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ESAB vs Ouster: revenue, profit, margins and growth compared

ESAB brought in $2.8B of revenue in fiscal 2025, Ouster $169.4M in fiscal 2025. Revenue changed by +3.7% at ESAB and +52.5% at Ouster on the year before, so Ouster grew faster. ESAB kept 8.0% of its revenue as net profit, Ouster -35.6%. Free cash flow was $213.3M at ESAB and -$64.8M at Ouster.

Side by side, latest fiscal year

ESABOUST
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.8B$169.4M
Revenue growth+3.7%+52.5%
Net income$226.8M-$60.4M
Net margin8.0%-35.6%
Free cash flow$213.3M-$64.8M
Free cash flow margin7.5%-38.3%
Earnings per share (diluted)$3.67-$1.07
Cash$185.9M$67.4M
Debt$1.2Bn/a
Price to earnings19.6n/a
Market value$4.5B$3.2B
Dividend yield0.53%n/a
Rank by revenue in sector#186 of 451 · Industrials#363 of 451 · Industrials

Over the years

Revenue
ESAB FY2020: $2BESAB FY2022: $2.4BESAB FY2022: $2.6BESAB FY2023: $2.8BESAB FY2024: $2.7BESAB FY2025: $2.8BOUST FY2019: $11.4MOUST FY2020: $18.9MOUST FY2021: $33.6MOUST FY2022: $41MOUST FY2023: $83.3MOUST FY2024: $111.1MOUST FY2025: $169.4MFY19FY20FY21FY22FY23FY24FY25
ESAB $2.8BOUST $169.4M
Net income
ESAB FY2020: $157.4MESAB FY2022: $235.1MESAB FY2022: $223.7MESAB FY2023: $205.3MESAB FY2024: $264.8MESAB FY2025: $226.8MOUST FY2019: -$51.7MOUST FY2020: -$106.8MOUST FY2021: -$94MOUST FY2022: -$138.6MOUST FY2023: -$374.1MOUST FY2024: -$97MOUST FY2025: -$60.4MFY19FY20FY21FY22FY23FY24FY25
ESAB $226.8MOUST -$60.4M
Net margin
ESAB FY2020: 8.1%ESAB FY2022: 9.7%ESAB FY2022: 8.6%ESAB FY2023: 7.4%ESAB FY2024: 9.7%ESAB FY2025: 8.0%OUST FY2019: -452.7%OUST FY2020: -564.9%OUST FY2021: -279.9%OUST FY2022: -337.7%OUST FY2023: -449.2%OUST FY2024: -87.3%OUST FY2025: -35.6%FY19FY20FY21FY22FY23FY24FY25
ESAB 8.0%OUST -35.6%
Revenue growth
ESAB FY2022: +24.5%ESAB FY2022: +6.8%ESAB FY2023: +7.0%ESAB FY2024: -1.2%ESAB FY2025: +3.7%OUST FY2020: +65.6%OUST FY2021: +77.6%OUST FY2022: +22.2%OUST FY2023: +103.0%OUST FY2024: +33.4%OUST FY2025: +52.5%FY20FY21FY22FY23FY24FY25
ESAB +3.7%OUST +52.5%
Free cash flow
ESAB FY2020: $269MESAB FY2022: $215.2MESAB FY2022: $174.1MESAB FY2023: $282.3MESAB FY2024: $303.6MESAB FY2025: $213.3MOUST FY2019: -$47.7MOUST FY2020: -$45.6MOUST FY2021: -$75.3MOUST FY2022: -$116.1MOUST FY2023: -$140.9MOUST FY2024: -$37.5MOUST FY2025: -$64.8MFY19FY20FY21FY22FY23FY24FY25
ESAB $213.3MOUST -$64.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about ESAB and Ouster

Which is bigger by revenue, ESAB or Ouster?

ESAB is bigger by revenue: $2.8B in fiscal 2025, against $169.4M for Ouster in fiscal 2025.

Which keeps more of its revenue as profit, ESAB or Ouster?

ESAB had a net margin of 8.0% in fiscal 2025; Ouster had -35.6% in fiscal 2025.

Which grew revenue faster, ESAB or Ouster?

In their latest fiscal years revenue changed by +3.7% at ESAB and +52.5% at Ouster.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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