ESAB
ESAB Corporation

ESAB CorporationESAB

Industrials · Metal Fabrication
82.83USD
+4.69%
Nov 08, 2026
ESAB overview ready
Global supplier of welding and cutting equipment to industrial manufacturers
ESAB Corporation develops, manufactures, and supplies consumable products and equipment used in cutting, joining, automated welding, and gas control, distributing through independent distributors and direct sales.
Primary theme is improving
Diversified Industrials is improving (+8.5pp vs SPY over 21 sessions; 16 of 24 members ahead of SPY).
An early price trend
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Unremarkable fundamentals
Market Nov 6Filing Oct 2Price action Nov 7Research Jul 17

Conviction Level

PriceAction8.9BusinessPerformance5.0BusinessQuality7.6Valuation6.4ThemeMomentum7.0Mixed — Revenue growth has accelerated across 4 consecutive quarters, rising from +7.5% to +13% year over year. Diluted EPS fell 36% year over year to $0.58. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+8.5pp
Theme return
+3.5%
Beating SPY
16 of 24
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

An early price trend
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$5.2B
Avg Volume (60D)
1.2M
60 sessions
Revenue Growth YoY
+3.7%
FY2025 vs FY2024
Gross Margin
+37.6%
Trailing twelve months
Operating Margin
+11.2%
Trailing twelve months
Free Cash Flow Yield
+3.5%
Distance from 200DMA
-10.0%
P/E
32.9x
EV / EBITDA
15.6x
EV / Sales
2.4x
Market metrics as of Nov 6, 2026
Financial results for the period ended Oct 2, 2026
Filed balance-sheet data as of Oct 2, 2026

Business Performance

Mixed

Revenue growth has accelerated across 4 consecutive quarters, rising from +7.5% to +13% year over year. Diluted EPS fell 36% year over year to $0.58.

Latest reported: Q3 FY2026, ended Oct 2
Revenue growthAccelerating
+13%
$825M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +7.5%
  2. +9.9%
  3. +13%
  4. +13%
Earnings growthDeclining
-36%
Diluted EPS $0.58 vs $0.90 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. -29%
  3. -54%
  4. -36%
Operating marginContracting
11.2%
-3.5 pp YoY · gross margin 39.3% (+2.3 pp)

Business Quality

7.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

All three valuation perspectives agree this company is fair.
ESAB Corporation has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

What changed

Company Research

Research coverage for this company is in progress.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Metal Fabrication
What they do

ESAB Corporation develops, manufactures, and supplies consumable products and equipment used in cutting, joining, automated welding, and gas control, distributing through independent distributors and direct sales.

How it earns

Transactional sales of consumables and equipment to industrial customers worldwide.

Products & services
Welding consumables
Cutting equipment
Automated welding systems
Gas control equipment
Customers & end markets
Industrial manufacturers
Fabrication shops
Construction companies
Energy sector firms
Market position

Established industrial compounder with a broad global presence and recognized product portfolio.

Demand drivers
Medium cyclicality

Demand tied to industrial and manufacturing activity which fluctuates with economic cycles.