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Forensic Analysis · Machinery & Fabricated Metal Products · as of Nov 9, 2026

Esab Corp (ESAB)

A forensic read on Esab Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
2.8
Distress distance
Clean
Earnings quality
1
Forensic signals
11.5%
ROE
3.7%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Esab Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.8, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

9.2%
FY2025
Return on invested capital. Return on invested capital is 9.2% in the latest fiscal year, against 9.1% in FY2023, having run between 9.1% and 11.3% across FY2023–FY2025 with no direction held. After-tax operating profit was $283M in FY2023 and $325M in FY2025, with operating income at 14.6% of revenue in FY2023, 16.3% in FY2024 and 14.5% in FY2025. The capital base behind it grew +14% across FY2023–FY2025, from $3.1B to $3.5B, and the return did not fall doing it, so the dollars added over that window earned at least the 9.1% the older base was already earning.

Key fundamentals

Latest Revenue$2.84B
Revenue Growth YoY+3.7%
Revenue CAGR (2yr)+1.2%
Net Margin8.0%
Free Cash Flow$213.3M
Return on Equity11.5%
Debt / Equity0.57x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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