ESAB Corp
ESAB: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$64.00 | Fslpq | Zkvhkqmj |
ESAB Earnings: Strong Growth in Collaborative Robots and Gas Control
Narrow-moat ESAB finished 2023 in a strong fashion as its full-year sales of $2.62 billion and adjusted EPS of $4.64 both came in above our estimates of $2.61 billion and $4.35, respectively. After rolling our model forward one year, we’ve raised our fair value estimate to $90 from $83, which reflects our slightly more optimistic midcycle operating margin assumptions and time value of money.