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Esab cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$54.4M in Q3 2026 · $181M over twelve months

Operating cash flow$72.7M
Capital spending−$18.3M
Free cash flow+$54.4M
Cash / net income1.8×
Cash conversion cycle92 days

Analysis

In Q3 2026, Esab generated $72.7M of operating cash flow and spent $18.3M on capital projects, leaving free cash flow of $54.4M.

Over the twelve months to Oct 2, 2026, operating cash flow was $250M; the largest uses were acquisitions ($1.5B), net borrowing (+) / repaid (−) ($69.6M), capital spending ($69.3M); besides operations, cash came from other financing ($1.4B), asset & business sales ($2.5M); the cash balance fell by $29.6M.

Operating cash flow was $72.7M against net income of $40.3M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$41.2M, stock-based pay +$8.1M, deferred taxes −$6.8M.

Its cash conversion cycle was 92 days (receivables 61 + inventory 105 − payables 73).

Free cash flow

Esab: free cash flow by quarterEsab: free cash flow by quarter$102MQ4 2024$28.1MQ1 2025$37.4MQ2 2025$70.3MQ3 2025$77.4MQ4 2025$33.2MQ1 2026$15.7MQ2 2026$54.4MQ3 2026
Operating cash flow less capital spending.
Esab: operating cash flow against capital spendingEsab: operating cash flow against capital spendingOperating cash flowCapital spending$127M$24.7MQ4 2024$35.4M$7.3MQ1 2025$46.6M$9.2MQ2 2025$81.5M$11.2MQ3 2025$97.1M$19.6MQ4 2025$46.9M$13.7MQ1 2026$33.4M$17.7MQ2 2026$72.7M$18.3MQ3 2026
Latest (Q3 2026): Operating cash flow $72.7M, Capital spending $18.3M.

Capital allocation, year by year

Esab: where the cash came from (up) and went (down), by fiscal yearEsab: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $251MFY2021: Net borrowing $673KFY2021: Asset sales $5.2MFY2021: Capital spending −$35.6MFY2021: Acquisitions −$4.9M$257MFY2021FY2022: Operating cash flow $214MFY2022: Net borrowing $1.2BFY2022: Asset sales $4.8MFY2022: Capital spending −$40.2MFY2022: Acquisitions −$149MFY2022: Dividends −$6.1M$1.4BFY2022FY2023: Operating cash flow $330MFY2023: Net borrowing −$776MFY2023: Asset sales $4.6MFY2023: Capital spending −$48.2MFY2023: Acquisitions −$18.7MFY2023: Dividends −$13.3M$335MFY2023FY2024: Operating cash flow $355MFY2024: Net borrowing −$840MFY2024: Asset sales $3.8MFY2024: Capital spending −$51.8MFY2024: Acquisitions −$154MFY2024: Dividends −$17.0M$359MFY2024FY2025: Operating cash flow $261MFY2025: Net borrowing −$252MFY2025: Asset sales $6.5MFY2025: Capital spending −$47.3MFY2025: Acquisitions −$438MFY2025: Dividends −$21.9M$267MFY2025
Over these 5 years operating cash flow totalled $1.4B; the largest uses were net borrowing ($1.9B) and acquisitions ($765M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$189M
Debt$2.3B
Net debt$2.1B
Due within a year$2.4M

Esab funds itself: free cash flow was $181M over the last twelve months, and $189M of cash and investments stands against $2.3B of debt ($2.4M due within a year, 78.2× covered by cash).

Esab: debt maturities by year (FY2025)Esab: debt maturities by year (FY2025)$2.4MYear 1$10.4MYear 2$10.4MYear 3$719MYear 4$501MYear 5
Principal due in each year as disclosed in the annual report, against $189M of cash and investments now.

Where the cash came from and went

Esab: sources (+) and uses (−) of cash, Q3 2026Esab: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)−$187MOther financing$116MOperating cash flow$72.7MCash drawn (+) / kept (−)$28.8MCapital spending−$18.3MDividends−$7.5MExchange rates−$3.8MPartners−$1.0MAsset & business sales$376K
Esab: sources (+) and uses (−) of cash, TTM to Q3 2026Esab: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$1.5BOther financing$1.4BOperating cash flow$250MNet borrowing (+) / repaid (−)−$69.6MCapital spending−$69.3MCash drawn (+) / kept (−)$29.6MDividends−$25.8MPartners−$3.3MAsset & business sales$2.5MExchange rates$1.9MOther investing−$1.4M

From profit to cash

Esab: net income to operating cash flow, Q3 2026Esab: net income to operating cash flow, Q3 2026Net income$40.3MDepreciation & amortization$41.2MStock-based pay$8.1MDeferred taxes−$6.8MGains on disposals−$21KReceivables−$5.9MInventory$4.2MPayables−$3.3MOther operating capital−$6.7MOperating cash flow$72.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026611057392
Q2 2026591007386
Q1 202659997583
Q4 202556956883
Q3 202557977184
Q2 202555947376
Q1 202554957475
Q4 202456957478

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$72.7M−$18.3M—−$7.5M−$187M$28.8M$54.4M
Q2 2026$33.4M−$17.7M—−$6.1M−$413M$787M$15.7M
Q1 2026$46.9M−$13.7M—−$6.1M$683M−$819M$33.2M
Q4 2025$97.1M−$19.6M$1.4M−$6.1M−$152M$32.4M$77.4M
Q3 2025$81.5M−$11.2M−$353M−$6.1M−$95.4M$40.0M$70.3M
Q2 2025$46.6M−$9.2M−$86.3M−$4.9M−$2.5M$33.1M$37.4M
Q1 2025$35.4M−$7.3M—−$4.9M−$2.5M−$42.0M$28.1M
Q4 2024$127M−$24.7M−$67.1M−$4.9M−$5.0M$4.3M$102M

Esab: income statement and cash flow

Esab, Q3 2026: revenue $825M (+13% year over year), operating margin 11.1%. The chart follows the revenue to costs, profit and cash.

Esab: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.