ATI Inc (ATI) is overvalued and ESAB Corp (ESAB) is slightly overvalued.
Both trade above our estimate of their intrinsic value. ESAB is the closer of the two: -13%, against -228% for ATI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.7% (average of 3 methods) values the shares at $56.85; the price of $186.56 is 228% above that value, and 74% of that value comes from beyond year five.
Leak Score 69/100 on 10 of 12 signals
Discounting its cash flows at 8.4% (average of 3 methods) values the shares at $60.32; the price of $68.44 is 13% above that value, and 78% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | ATI | ESAB |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $186.56 | $68.44 |
| Intrinsic value | $56.85 | $60.32 |
| Margin of safety | -228% | -13% |
| Leak Score | 69/100 (10/12) | 14/100 (3/12) |
| Market cap | $25.4B | $4.3B |
| Revenue growth, 5 years | 9.0% | 7.8% |
| Operating margin | 16.0% | 14.2% |
| Net margin | 10.1% | 5.7% |
| Return on equity | 26.3% | 8.6% |
| Debt to equity | 1.17 | 1.00 |
| P/E | 54.5x | 24.6x |
| Forward P/E | 29.8x | 10.7x |
| P/B | 13.5x | 1.8x |
| Dividend yield | — | 0.3% |