ESAB
ESAB Corporation
ESAB has lower modeled downside risk, despite its lower overall score.
RDW
Redwire Corporation
RDW has the edge over ESAB overall, supported by stronger modeled upside and stronger fundamentals.
ESAB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Weak |
ESAB's revenue is currently healthy, and its profitability and cash flow are stable, but its balance sheet is weak.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
ESAB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $82.55 | — |
| Cheap | 18x | $43.61 | -47% |
| Fair | 26x | $63.73 | -23% |
| Expensive | 29x | $71.57 | -13% |
| Current | 34x | $82.55 | — |
Historical ranges are pointers, not guarantees.
ESAB's PE is in its expensive range at 34x. If earnings grow as analysts expect, today's price would be 14x next year's earnings, in its cheap range.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
ESAB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ESAB, with profitability holding steady.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
RDW has the edge over ESAB on the outlook, with more favorable profitability expectations.
ESAB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.91 | +142% |
| Q3 2026 | $2.44 | -38% |
| Q2 2026 | $2.76 | -34% |
| Q1 2026 | $3.35 | -24% |
| Q4 2025 | $3.67 | -15% |
| Q3 2025 | $3.96 | -7.3% |
| Q2 2025 | $4.17 | +1.7% |
| Q1 2025 | $4.43 | +16% |
| Q4 2024 | $4.31 | +28% |
ESAB has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
ESAB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $824.5M | +13% |
| Q2 2026 | $807.6M | +13% |
| Q1 2026 | $745.6M | +9.9% |
| Q4 2025 | $721M | +7.5% |
| Q3 2025 | $727.8M | +8.1% |
| Q2 2025 | $715.6M | +1.2% |
| Q1 2025 | $678.1M | -1.7% |
| Q4 2024 | $670.8M | -2.7% |
ESAB's revenue has grown year over year for six quarters in a row: $825M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -3.5 points |
| Q2 2026 | 9.8% | -5.5 points |
| Q1 2026 | 12% | -4.1 points |
| Q4 2025 | 12% | -4.6 points |
| Q3 2025 | 15% | -1.1 points |
| Q2 2025 | 15% | -1.6 points |
| Q1 2025 | 16% | +0.2 points |
| Q4 2024 | 17% | +1.6 points |
ESAB has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over ESAB on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
ESAB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $54.4M | -23% |
| Q2 2026 | $15.7M | -58% |
| Q1 2026 | $33.2M | +18% |
| Q4 2025 | $77.4M | -24% |
| Q3 2025 | $70.3M | -22% |
| Q2 2025 | $37.4M | -49% |
| Q1 2025 | $28.1M | -24% |
| Q4 2024 | $102.2M | -0.9% |
ESAB has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
ESAB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +763K shares |
| 1 year | +1.9% | +1.2M shares |
| 3 years | +2.7% | +1.7M shares |
| 5 years | +4% | +2.4M shares |
ESAB has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
ESAB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.6x | High |
| Q2 2026 | 4.7x | High |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.6x | Healthy |
ESAB's net debt is about 4.6 years of its operating earnings (EBITDA), up from 2.2 years a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
ESAB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 47.4 | Neutral |
ESAB's weekly RSI is 50 (neutral) and its Stochastic is 47 (neutral).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
ESAB PE vs Industrials Sector
| Metric | ESAB | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 24x | 41% above |
| PE % | 97 | 68 | 29 pts above |
ESAB is trading at 34x earnings, a 41% premium to the Industrials sector's median of 24x.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
ESAB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $72.0 | 15% above |
| 20 week MA | $78.2 | 5.6% above |
| 50 week MA | $96.0 | 14% below |
| 100 week MA | $107.8 | 23% below |
| 200 week MA | $96.5 | 14% below |
ESAB has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
ESAB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $50.0 | $49.1 | -1.8% |
| 2023 | $49.1 | $86.6 | +76% |
| 2024 | $86.6 | $121.4 | +40% |
| 2025 | $121.4 | $114.2 | -5.9% |
| 2026 YTD | $114.2 | $82.6 | -28% |
ESAB has finished lower in two of the last four years. It's down 28% so far in 2026.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over ESAB on returns for 2026, with the stronger performance.