ESAB (ESAB) Stock Price

ESAB Price

NYSE·CLOSED
75.02USD+0.32 (+0.43 %)
Market closed

Over the last 6 years ESAB grew revenue by 4.0% annually, reaching 2.84 B USD. Earnings per share have grown at 7.2% per year over the last 5 years. For ESAB, the net margin of 8.0% is down versus 9.7% a few years ago. At today's price the dividend yield works out to roughly 0.51%. The payout ratio is around 10% of earnings. The dividend has grown at 36.3% per year over the past 3 years. The consensus 12-month price target for ESAB is 148.41 USD, about 97.8% above where the stock trades today. Of 17 analysts, 14 rate the stock a buy — an overall Buy consensus. The stock trades about 1% above its 52-week low.

ESAB stock price

Volume
Ex-Dividend
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of ESAB over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how ESAB stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing ESAB's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

ESAB Stock Price History
DateESAB Price
9/4/202675.02 USD
9/3/202674.70 USD
9/2/202673.97 USD
9/1/202674.04 USD
8/31/202675.38 USD
8/30/202675.83 USD
8/28/202676.60 USD
8/27/202679.48 USD
8/26/202682.23 USD
8/25/202680.46 USD
8/24/202679.24 USD
8/21/202681.40 USD
8/20/202678.58 USD
8/19/202678.85 USD
8/18/202680.56 USD
8/14/202684.81 USD
8/13/202685.12 USD
8/12/202686.23 USD
8/10/202686.48 USD
8/7/202691.86 USD
8/6/202694.51 USD
8/5/202693.36 USD
8/4/202693.21 USD
8/3/202691.04 USD
7/31/202686.53 USD
7/30/202685.59 USD
7/29/202685.38 USD
7/27/202687.31 USD
7/23/202683.67 USD
7/22/202684.03 USD
Access this data via the Eulerpool API

ESAB Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2023
2.77 B USD
404.17 M USD
205.29 M USD
Jan 1, 2024
2.74 B USD
447.45 M USD
264.84 M USD
Jan 1, 2025
2.84 B USD
491.80 M USD
226.77 M USD
Jan 1, 2026 (e)
3.06 B USD
563.65 M USD
331.14 M USD
Jan 1, 2027 (e)
3.34 B USD
673.81 M USD
391.89 M USD
Jan 1, 2028 (e)
3.48 B USD
716.31 M USD
444.80 M USD
Jan 1, 2029 (e)
3.62 B USD
824.56 M USD
526.36 M USD
Jan 1, 2030 (e)
3.78 B USD
927.24 M USD
598.60 M USD

ESAB Income Statement, Balance Sheet, Cash Flow Statement

Last updated Sep 7, 2026, 7:01 PM
 
REVENUEB USD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB USD
EBITM USD
EBIT MARGIN%
NET INCOMEM USD
NET INCOME GROWTH%
DIV.USD
DIV. GROWTH%
SHARESM
20192020202120222023202420252026e2027e2028e2029e2030e
2.251.952.432.592.772.742.843.063.343.483.623.78
-13.2224.516.806.98-1.233.727.649.224.223.854.59
35.4334.9734.4734.1336.5937.8535.5435.5435.5435.5435.5435.54
0.800.680.840.891.021.041.011.091.191.241.291.34
256.00202.00306.00329.00404.00447.00491.00563.00673.00716.00824.00927.00
11.3910.3612.6012.6914.5616.3117.2818.4020.1420.5622.7924.51
172.00157.00235.00223.00205.00264.00226.00331.00391.00444.00526.00598.00
-8.7249.68-5.11-8.0728.78-14.3946.4618.1313.5518.4713.69
0.200.230.300.380.440.530.63
15.0030.4326.6715.7920.4518.87
60.9460.0060.0360.0960.3060.5260.9460.9460.9460.9460.9460.94
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales ESAB generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue ESAB retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare ESAB's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares ESAB has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against ESAB's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

ESAB stock margins

The ESAB margin analysis displays the gross margin, EBIT margin, as well as the profit margin of ESAB. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for ESAB.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
34.51 %
12.61 %
9.68 %
Jan 1, 2022
34.14 %
12.69 %
8.63 %
Jan 1, 2023
36.61 %
14.57 %
7.40 %
Jan 1, 2024
37.85 %
16.33 %
9.66 %
Jan 1, 2025
35.54 %
17.30 %
7.98 %
Jan 1, 2026 (e)
35.54 %
18.42 %
10.82 %
Jan 1, 2027 (e)
35.54 %
20.16 %
11.73 %
Jan 1, 2028 (e)
35.54 %
20.57 %
12.77 %

ESAB Stock Revenue, EBIT, Earnings per Share

The ESAB earnings per share therefore indicates how much revenue ESAB has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
40.45 USD
5.10 USD
3.92 USD
Jan 1, 2022
43.16 USD
5.48 USD
3.72 USD
Jan 1, 2023
46.02 USD
6.70 USD
3.40 USD
Jan 1, 2024
45.29 USD
7.39 USD
4.38 USD
Jan 1, 2025
46.64 USD
8.07 USD
3.72 USD
Jan 1, 2026 (e)
50.39 USD
9.25 USD
5.45 USD
Jan 1, 2027 (e)
55.05 USD
11.06 USD
6.46 USD
Jan 1, 2028 (e)
57.36 USD
11.75 USD
7.33 USD

ESAB business model & stock analysis

ESAB Employees

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

ESAB Employees
Details
Date
ESAB Employees
Jan 1, 2022
- Employees
Jan 1, 2023
- Employees
Jan 1, 2024
- Employees
Jan 1, 2025
- Employees

ESAB Segments

ESAB Revenue by Segment (1/3)

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Details
Date
Equipment
Consumables
Jan 1, 2022
0.00 USD
0.00 USD
Jan 1, 2025
0.00 USD
0.00 USD

ESAB Revenue by Segment (2/3)

  • 3 Years

  • Max

EMEA and APAC Segment
EMEA & APAC
Details
Date
EMEA and APAC Segment
EMEA & APAC
Jan 1, 2022
0.00 USD
1.47 B USD
Jan 1, 2025
1.71 B USD
0.00 USD

ESAB Revenue by Segment (3/3)

  • 3 Years

  • Max

Americas Segment
Americas
Details
Date
Americas Segment
Americas
Jan 1, 2022
0.00 USD
1.13 B USD
Jan 1, 2025
1.13 B USD
0.00 USD

ESAB Revenue by Region

  • 3 Years

  • Max

United States
Czech Republic
Details
Date
United States
Czech Republic
Jan 1, 2022
583.00 M USD
0.00 USD
Jan 1, 2025
0.00 USD
579.30 M USD

ESAB Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

ESAB historical P/E ratio, EBIT multiple, and P/S ratio

ESAB annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

ESAB shares outstanding

The number of shares of ESAB was 60.94 M in 2025. This indicates how many shares ESAB is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
60.03 M Stocks
Jan 1, 2022
60.09 M Stocks
Jan 1, 2023
60.30 M Stocks
Jan 1, 2024
60.52 M Stocks
Jan 1, 2025
60.94 M Stocks
Jan 1, 2026 (e)
60.94 M Stocks
Jan 1, 2027 (e)
60.94 M Stocks
Jan 1, 2028 (e)
60.94 M Stocks

ESAB Dividend History

5 years of dividend payments · 3 consecutive increases

YearAnnual DividendYoY ChangePayments
20260.22USDYTD
Apr 2, 20260.10USD 0.0%1/2
Jul 2, 20260.12USD 20.0%2/2
20250.38USD 26.7%
Apr 4, 20250.08USD 0.0%1/4
Jul 3, 20250.10USD 25.0%2/4
Oct 3, 20250.10USD 0.0%3/4
Dec 31, 20250.10USD 0.0%4/4
20240.30USD 30.4%
20230.23USD 53.3%
20220.15USD

ESAB dividend history and estimates

In 2025, ESAB paid a dividend amounting to 0.38 USD. Dividend means that ESAB distributes a portion of its profits to its owners.
  • Max

Dividend
Dividend (Estimate)
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2022 (e)
0.15 USD
0.05 USD
Jan 1, 2023
0.23 USD
0.00 USD
Jan 1, 2024
0.30 USD
0.00 USD
Jan 1, 2025
0.38 USD
0.00 USD
Jan 1, 2026 (e)
0.22 USD
0.22 USD
Jan 1, 2027 (e)
0.00 USD
0.53 USD
Jan 1, 2028 (e)
0.00 USD
0.63 USD

ESAB dividend payout ratio

In 2025, ESAB had a payout ratio of 10.21%. The payout ratio indicates the percentage of the company's profits that ESAB distributes as dividends.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2021
7.94 %
Jan 1, 2022
4.03 %
Jan 1, 2023
6.76 %
Jan 1, 2024
6.86 %
Jan 1, 2025
10.21 %
Jan 1, 2026 (e)
8.07 %
Jan 1, 2027 (e)
8.18 %
Jan 1, 2028 (e)
8.65 %

Current ESAB forecasts and price targets in September 2026

Analyst Price Targets 2026
Δ MOM Price Target
1.04 %
Buy
82.35 % (14)
Hold
17.65 % (3)
Sell
0.00 % (0)
12M Price Target
148.41
Last Price
75.02
Currency
USD
12M Return Potential
97.83 %
LTM Return
0 %

ESAB Analyst Rating Actions

DateFirmActionRatingReliability
8/11/2026
Evercore ISI Group
Evercore ISI Group
MaintainedIn Line62
7/21/2026
Oppenheimer
Oppenheimer
MaintainedOutperform62
7/20/2026
Stifel
Stifel
MaintainedBuy56
7/7/2026
Roth Capital
Roth Capital
MaintainedBuy55
4/16/2026
DA Davidson
DA Davidson
MaintainedBuy55
4/10/2026
JP Morgan
JP Morgan
MaintainedOverweight59
4/8/2026
Stifel
Stifel
MaintainedBuy56
2/23/2026
Stifel
Stifel
MaintainedBuy56
2/23/2026
JP Morgan
JP Morgan
MaintainedOverweight59
2/3/2026
Roth Capital
Roth Capital
MaintainedBuy55

Eulerpool Reliability Score (0–100): measures how often a firm’s bullish or bearish calls were directionally correct three months later, blended with the average return following its calls. Every rating we record is stored permanently and scores update continuously; firms with fewer than 3 measured calls are not scored yet.

ESAB Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
8/6/20261.40USD-770.96 MUSD-2026 Q2
5/7/20261.36USD-733.30 MUSD-2026 Q1
3/10/20261.37USD-724.85 MUSD-2025 Q4
3/7/20241.06USD-668.00 MUSD-2023 Q4

EESG©

Eulerpool ESG Scorecard© for the ESAB stock

67/100
46
Environment
99
Social
55
Governance
E

Environment

20
Scope 1 - Direct Emissions26,000
Scope 2 - Indirect emissions from purchased energy88,000
Scope 3 - Indirect emissions within the value chain
Total CO₂ emissions114,000
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides
Palm Oil
Tobacco
Genetically modified organisms
Climate concept
Sustainable forestry
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees
Percentage of women in management
Percentage of Asian employees
Share of Asian management
Percentage of Hispanic/Latino employees
Hispano/Latino Management share
Percentage of Black employees
Black Management Share
Percentage of white employees
White Management Share
Adult content
Alcohol
Weapons
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

ESAB shareholder structure

% Name
13.43624%
T. ROWE PRICE INVESTMENT MANAGEMENT, INC.
T. ROWE PRICE INVESTMENT MANAGEMENT, INC.
10.96389%
PRICE T ROWE ASSOCIATES INC /MD/
PRICE T ROWE ASSOCIATES INC /MD/
8.53782%
BLACKROCK, INC.
BLACKROCK, INC.
4.27464%
VANGUARD CAPITAL MANAGEMENT LLC
VANGUARD CAPITAL MANAGEMENT LLC
4.10086%
VANGUARD PORTFOLIO MANAGEMENT LLC
VANGUARD PORTFOLIO MANAGEMENT LLC
2.86453%
STATE STREET CORP
STATE STREET CORP
...

ESAB Beneficial Ownership Filings (SEC 13D/G)

Free Float
93.3%
Float Shares
-
Shares Outstanding
-
StakeHolderFiling
13.20%
T. Rowe Price Investment Management, Inc.
T. Rowe Price Investment Management, Inc.
SEC ↗
10.90%
T. Rowe Price Associates, Inc.
T. Rowe Price Associates, Inc.
SEC ↗
10.40%
85-4328500
85-4328500
SEC ↗
9.60%
52-0556948
52-0556948
SEC ↗
9.22%
The Vanguard Group - 23-1945930
The Vanguard Group - 23-1945930
SEC ↗
7.40%
(1) BlackRock, Inc.
(1) BlackRock, Inc.
SEC ↗
7.10%
Mitchell P. Rales
Mitchell P. Rales
SEC ↗
5.40%
Rales
Rales
SEC ↗
5.01%
Vanguard Capital Management
Vanguard Capital Management
SEC ↗

ESAB Executives and Management Board

15 members · avg. age 59 · 33 % women

SK

Mr. Shyam Kambeyanda (54)

President, Chief Executive Officer, Director · since 2016

7.98 M USD

Management

KJ

Mr. Kevin Johnson (49)

Chief Financial Officer

3.22 M USD
OB

Mr. Olivier Biebuyck (54)

President, Fabrication Technology

2.14 M USD
MC

Ms. Michele Campion (48)

Chief Human Resources Officer

2.06 M USD
CJ

Mr. Curtis Jewell (43)

Senior Vice President, General Counsel, Corporate Secretary

1.73 M USD
EL

Ms. Eleanor Lukens (60)

President, Americas

1.66 M USD
VM

Mr. Vusa Mlingo (55)

Senior Vice President - Strategy and Business Development

Board of Directors

MR

Mr. Mitchell Rales (68)

Independent Non-Executive Chairman of the Board

350,000.00 USD
PA

Mr. Patrick Allender (78)

Independent Director

265,625.00 USD
RJ

Ms. Rhonda Jordan (67)

Independent Director

258,750.00 USD
RV

Mr. Rajiv Vinnakota (54)

Independent Director

258,750.00 USD
MC

Ms. Melissa Cummings (49)

Independent Director

243,750.00 USD
RL

Mr. Robert Lutz (67)

Independent Director

243,750.00 USD

Frequently asked questions about ESAB

Analysts currently set an average price target of 145.18 USD for the ESAB stock (median: 148.41 USD), implying +93.5 % versus the latest price. The consensus is based on 17 analyst ratings.

17 analysts currently rate the ESAB stock: 14 recommend buying, 3 holding and 0 selling. For 2026, analysts expect ESAB to generate revenue of 3.06 B USD and earnings per share of 5.43 USD.

Converted at the current exchange rate, the ESAB share trades at 64.60 EUR (75.02 USD).

The ESAB share (ESAB) is listed on 2 stock exchanges, including: NYSE (ESAB), Frankfurt (O03.F).

No history available for ESAB.

The expected revenue of ESAB is 3.06 B USD. This figure is based on current financial data and reflects the company's business performance.

The expected profit of ESAB is 331.14 M USD. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of ESAB is currently 13.81. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the ESAB stock.

The price-to-sales ratio (P/S) of ESAB is currently 1.49. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the ESAB stock.

The Eulerpool Quality Score for ESAB is 4/10.

The ISIN of ESAB is US29605J1060. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of ESAB is A3DG4P. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of ESAB is ESAB. The ticker symbol is used to trade ESAB shares on the stock exchange.

Over the past 12 months, ESAB paid a dividend of 0.38 USD . This corresponds to a dividend yield of about 0.51 %. For the coming 12 months, ESAB is expected to pay a dividend of 0.53 USD.

The current dividend yield of ESAB is 0.51 %.

ESAB pays a dividend, distributed in the months of , , , .

ESAB paid dividends every year for the past 4 years.

For the upcoming 12 months, dividends amounting to 0.53 USD are expected. This corresponds to a dividend yield of 0.70 %.

ESAB is assigned to the 'Industry' sector.

In the year 2025, ESAB distributed 0.3 USD as dividends.

The dividends of ESAB are distributed in USD.

All fundamentals and in-depth analysis of ESAB

Our stock analysis for ESAB stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of ESAB. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.