ESAB Corp

ESAB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$97.00	Rjdcqk	Ylytcss

ESAB Finishes 2022 on a Strong Note; Raising Fair Value Estimate

Krzysztof Smalec

Mar 7, 2023

Narrow-moat-rated ESAB finished 2022 with a strong fourth quarter, as its full-year revenue of $2,593 million and adjusted EPS of $4.21 both came in above our estimates ($2,468 million and $4.09, respectively). After rolling our model forward one year, we've bumped our fair value estimate up to $65 from $64, mostly due to time value of money. We view the name as fairly valued, with the stock currently trading in 3-star territory.

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