ESAB vs. AAON
ESAB (ESAB Corp) and AAON (AAON, Inc.) are both stocks. Both are in the Industrials sector — ESAB in Metal Fabrication, AAON in Building Products & Equipment. Over the past 3 years, ESAB returned 17.77%/yr vs 29.45%/yr for AAON. At a 0.50 correlation, their price movements are largely independent.
Performance
ESAB vs. AAON - Performance Comparison
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Returns By Period
In the year-to-date period, ESAB achieves a -8.36% return, which is significantly lower than AAON's 78.92% return.
ESAB
- 1D
- -3.69%
- 1M
- 11.38%
- YTD
- -8.36%
- 6M
- -10.72%
- 1Y
- -11.23%
- 3Y*
- 17.77%
- 5Y*
- —
- 10Y*
- —
AAON
- 1D
- -0.41%
- 1M
- 1.23%
- YTD
- 78.92%
- 6M
- 81.71%
- 1Y
- 89.68%
- 3Y*
- 29.45%
- 5Y*
- 27.96%
- 10Y*
- 23.51%
ESAB vs. AAON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESAB ESAB Corp | -8.36% | -6.55% | 38.86% | 85.23% | -5.81% |
AAON AAON, Inc. | 78.92% | -34.91% | 59.88% | 47.86% | 36.29% |
Correlation
The correlation between ESAB and AAON is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.50 |
Fundamentals
ESAB:
$4.52
AAON:
$1.42
ESAB:
22.63
AAON:
95.74
ESAB:
1.07K
AAON:
3.83
ESAB:
1.61
AAON:
6.99
ESAB:
$2.91B
AAON:
$1.62B
ESAB:
$1.03B
AAON:
$424.33M
ESAB:
$456.09M
AAON:
$228.54M
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Return for Risk
ESAB vs. AAON — Risk / Return Rank
ESAB
AAON
ESAB vs. AAON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ESAB Corp (ESAB) and AAON, Inc. (AAON). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ESAB | AAON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.28 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 2.93 | -3.23 |
| Martin ratioReturn relative to average drawdown | -0.60 | 7.04 | -7.65 |
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Drawdowns
ESAB vs. AAON - Drawdown Comparison
The maximum ESAB drawdown since its inception was -41.08%, smaller than the maximum AAON drawdown of -76.03%. Use the drawdown chart below to compare losses from any high point for ESAB and AAON.
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Drawdown Indicators
| ESAB | AAON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.08% | -76.03% | +34.95% |
Max Drawdown (1Y)Largest decline over 1 year | -38.43% | -30.75% | -7.68% |
Max Drawdown (3Y)Largest decline over 3 years | -38.43% | -48.86% | +10.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.86% | — |
Current DrawdownCurrent decline from peak | -24.06% | -8.09% | -15.97% |
Average DrawdownAverage peak-to-trough decline | -11.35% | -19.25% | +7.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.71% | 12.77% | +5.94% |
Volatility
ESAB vs. AAON - Volatility Comparison
ESAB Corp (ESAB) and AAON, Inc. (AAON) have volatilities of 16.15% and 15.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESAB | AAON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.15% | 15.79% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 33.65% | 44.77% | -11.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.53% | 61.92% | -18.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.33% | 45.79% | -8.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.33% | 40.49% | -3.16% |
Dividends
ESAB vs. AAON - Dividend Comparison
ESAB's dividend yield for the trailing twelve months is around 0.39%, more than AAON's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAON AAON, Inc. | 0.29% | 0.52% | 0.27% | 0.43% | 0.57% | 0.48% | 0.57% | 0.65% | 0.91% | 0.71% | 0.73% | 0.95% |
ESAB ESAB Corp | 0.39% | 0.34% | 0.25% | 0.27% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ESAB vs. AAON - Financials Comparison
This section allows you to compare key financial metrics between ESAB Corp and AAON, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ESAB vs. AAON - Profitability Comparison
ESAB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ESAB Corp reported a gross profit of 275.11M and revenue of 745.60M. Therefore, the gross margin over that period was 36.9%.
AAON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported a gross profit of 124.97M and revenue of 496.94M. Therefore, the gross margin over that period was 25.2%.
ESAB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ESAB Corp reported an operating income of 90.48M and revenue of 745.60M, resulting in an operating margin of 12.1%.
AAON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported an operating income of 57.06M and revenue of 496.94M, resulting in an operating margin of 11.5%.
ESAB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ESAB Corp reported a net income of 47.64M and revenue of 745.60M, resulting in a net margin of 6.4%.
AAON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported a net income of 39.82M and revenue of 496.94M, resulting in a net margin of 8.0%.
Frequently Asked Questions
ESAB and AAON have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESAB has higher volatility (16.15%) compared to AAON (15.79%). In terms of maximum drawdown, ESAB dropped -41.08% vs AAON's -76.03%.
AAON currently has the higher Sharpe Ratio (1.46 vs -0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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