ESABNYSEGeneral Industrial Machinery & Equipment, NECUS GAAP · USD

ESAB Corp

ESAB Corp designs, manufactures and sells fabrication technology used in cutting, joining and welding applications. Its portfolio spans consumables, equipment, gas control products, robotics and digital solutions sold under brands such as ESAB to industrial customers in about 150 countries.

Ask about the company
Revenue2,843m USD
+3.7 %y/y
Operating profit (EBIT)412m USD
−7.9 %y/y
EBIT margin14.5%
−1.8 ppy/y
Net income227m USD
−14.4 %y/y
Free cash flow213m USD
−29.8 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01,0002,0003,000m USD2020: 1,950 m USD2020: EBIT 202 m USD20202021: 2,428 m USD2021: EBIT 306 m USD20212022: 2,593 m USD2022: EBIT 329 m USD20222023: 2,775 m USD2023: EBIT 404 m USD20232024: 2,741 m USD2024: EBIT 447 m USD20242025: 2,843 m USD2025: EBIT 412 m USD20252,843412
RevenueOperating profit (EBIT)
Ask Clarifo about ESAB Corp

Business

Share of revenue
Consumables45 %

Filler metals, welding wire, electrodes and other recurring-use products for joining and cutting.

Equipment30 %

Portable and industrial welding, cutting and fabrication machines sold through distributors and direct channels.

Gas control equipment10 %

Regulators, valves and related products used to manage shielding and process gases.

Robotics and automation8 %

Automated welding and cutting systems that improve throughput, quality and labor efficiency.

Digital solutions and services7 %

Software-enabled workflow tools, service offerings and productivity solutions tied to fabrication operations.

Products

Reported · share of revenue
65.8%34.2%FY2025100 %
  • Equipment Products65.8 %
  • Consumable Products34.2 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

ESAB sells to a broad industrial customer base that needs joining, cutting and fabrication capability in day-to-day production. Buyers include distributors, fabricators and end users across many sectors, with demand tied to maintenance, replacement, project work and productivity upgrades. The company’s mix of consumables and equipment makes it relevant both for recurring shop-floor usage and larger capital purchases.

Industrial distributors

Buy ESAB products for resale and local market coverage, helping the company reach fragmented end users efficiently.

Fabrication and metalworking customers

Purchase consumables, equipment and gas control products for welding, cutting and joining operations.

Automation and robotics buyers

Invest in welding and cutting robotics to raise productivity, consistency and labor efficiency.

Industrial maintenance and repair users

Buy recurring consumables and portable equipment for ongoing repair, replacement and field work.

Large multinational industrial accounts

Source across regions for standardized products, application support and supply reliability.

Strategy

ESAB is focused on organic growth through product expansion, customer-base expansion and a balanced mix of equipment and consumables. Management also expects acquisitions to remain part of the playbook, using integration capabilities and the EBXai operating system to improve execution and capture synergies. The strategy is designed to strengthen share in fragmented niches while reducing cyclicality through geographic and end-market diversity.

Organic growth in core fabrication nichesMedium term

Broader products and customer coverage support share gains in fragmented markets.

Acquisition-led expansionMedium term

M&A adds technology, geography and scale in adjacent markets.

Operational excellence through EBXaiShort term

Standardized processes and continuous improvement support margin and execution.

Geography

2025

ESAB operates globally through two reportable segments: Americas and EMEA & APAC. Management says the business serves customers in approximately 150 countries, with principal markets outside the United States in Europe, Asia Pacific, South America and the Middle East. The company’s international mix creates diversification benefits, but it also exposes results to currency swings, tariffs, trade restrictions and region-specific demand weakness such as Russia.

United States100 %

Risks

ESAB is exposed to cyclical demand in welding and cutting markets, especially in developed economies where replacement and project activity can slow. Its heavy international footprint adds FX, tariff, trade and geopolitical risk, while cybersecurity and supply-chain disruptions could interrupt production or customer service. Acquisitions also create integration and goodwill/intangible impairment risk if expected synergies or growth do not materialize.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →International operations and FX/tariff exposure1Russia exposure2Cyclical and mature welding markets3Cybersecurity and IT disruption4Acquisition integration and impairment risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. International operations and FX/tariff exposureImpact: HighLikelihood: High

    Most sales are outside the U.S., so currency moves and trade policy can affect revenue and margins.

    Exposure: Americas and EMEA & APAC

  2. Russia exposureImpact: HighLikelihood: High

    Management cited lower volumes in Russia as a drag on sales and core sales calculations exclude Russia.

    Exposure: EMEA & APAC

  3. Cyclical and mature welding marketsImpact: HighLikelihood: Medium

    Demand in developed markets depends on industrial activity, replacement cycles and project timing.

    Exposure: Equipment and consumables demand in developed markets

  4. Cybersecurity and IT disruptionImpact: HighLikelihood: Medium

    A breach could interrupt manufacturing, damage customer trust and create legal or remediation costs.

    Exposure: Global operations and third-party vendors

  5. Acquisition integration and impairment riskImpact: MediumLikelihood: Low

    Recent and future acquisitions must be integrated successfully or goodwill/intangibles may be impaired.

    Exposure: Purchased businesses and trade names

Ask Clarifo about ESAB Corp

Accounting

Judgemental items
Point-in-time revenue recognition

Most product revenue is recognized when control transfers on shipment, so logistics timing affects quarterly results.

Impact: Quarter-end shipment timing can move revenue between periods

Acquisition accounting and amortization

Recent acquisitions create acquired intangibles and amortization expense that affect reported margins.

Impact: Purchase accounting can depress GAAP earnings versus core performance

Goodwill and indefinite-lived intangible impairment

Acquired businesses and trade names must be tested if performance weakens or market assumptions change.

Impact: Potential non-cash impairment charges

Credit loss allowance

Trade receivables are subject to expected credit loss estimates in a diversified global customer base.

Impact: Allowance changes can affect operating results

Non-GAAP core sales and core EBITDA adjustments

Management excludes Russia and acquisition-related items to show underlying performance.

Impact: Important for trend analysis and segment comparability

Similar listed companies

Publicly listed companies with a comparable business focus.

SSAB AB

SSABBH · Steel

EPAM Systems, Inc.

EPAM · Services-Computer Programming Services

Ecolab Inc

ECL · Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics

Hiab Oyj

CGCBV · Farm & Heavy Construction Machinery

Espey Mfg. & Electronics Corp

ESP · Electronic Components, NEC

Eaco Corp

EACO · Wholesale-Electronic Parts & Equipment, NEC

Last updated: 24/09/2026

ESAB Corp (ESAB) Revenue, Earnings & Financials 2025 – Clarifo