ESAB vs IDEX
IDEX reported revenue of $3.5 billion in fiscal 2025, 1.2 times ESAB's $2.8 billion in fiscal 2025. ESAB's revenue grew 3.7% in its latest year, and IDEX's grew 5.8%. ESAB had an operating margin of 14.5%, against 20.2% at IDEX. Free cash flow was $213 million at ESAB and $617 million at IDEX.
Side by side
| ESAB | IDEX | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $2.8B | $3.5B |
| Revenue growth | 3.7% | 5.8% |
| Revenue growth a year, last 5 years | 7.8% | 8.0% |
| Gross margin | 36.9% | 44.5% |
| Operating margin | 14.5% | 20.2% |
| Net margin | 8.0% | 14.0% |
| Free cash flow | $213M | $617M |
| Free cash flow margin | 7.5% | 17.8% |
| Return on capital | 11.0% | 10.2% |
| Net debt to EBITDA | 2.1x | 1.4x |
| Dividends and buybacks | $22M | $460M |
| Change in diluted share count | 0.3% | −0.8% |
| Last close | $67.31 | $231.06 |
| P/E at the last close | 24.2× | 33.2× |
| Insider trades, last 12 months | sold $8.9 million | bought $101,646, sold $3.4 million |
| Piotroski F-score | 4 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
ESABIDEX
Operating margin
Percent of revenue
ESABIDEX
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
ESABIDEX