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Side-by-side financial comparison of AMERICAN FINANCIAL GROUP INC (AFG) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
AMERICAN FINANCIAL GROUP INC is the larger business by last-quarter revenue ($2.1B vs $1.6B, roughly 1.3× Bath & Body Works, Inc.). AMERICAN FINANCIAL GROUP INC runs the higher net margin — 14.5% vs 4.8%, a 9.7% gap on every dollar of revenue. On growth, Bath & Body Works, Inc. posted the faster year-over-year revenue change (-1.0% vs -4.0%). Over the past eight quarters, AMERICAN FINANCIAL GROUP INC's revenue compounded faster (4.0% CAGR vs -26.0%).
The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
AFG vs BBWI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.6B |
| Net Profit | $299.0M | $77.0M |
| Gross Margin | — | 41.3% |
| Operating Margin | 18.4% | 10.1% |
| Net Margin | 14.5% | 4.8% |
| Revenue YoY | -4.0% | -1.0% |
| Net Profit YoY | 17.3% | -27.4% |
| EPS (diluted) | $3.59 | $0.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.3B | $1.5B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.9B | $2.8B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.9B | $2.9B |
| Q4 25 | $299.0M | $77.0M | ||
| Q3 25 | $215.0M | $64.0M | ||
| Q2 25 | $174.0M | $105.0M | ||
| Q1 25 | $154.0M | $453.0M | ||
| Q4 24 | $255.0M | $106.0M | ||
| Q3 24 | $181.0M | $152.0M | ||
| Q2 24 | $209.0M | $87.0M | ||
| Q1 24 | $242.0M | $579.0M |
| Q4 25 | — | 41.3% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 45.4% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 45.9% |
| Q4 25 | 18.4% | 10.1% | ||
| Q3 25 | 11.5% | 10.1% | ||
| Q2 25 | 11.9% | 14.7% | ||
| Q1 25 | 10.6% | 24.3% | ||
| Q4 24 | 14.9% | 13.5% | ||
| Q3 24 | 9.7% | 12.0% | ||
| Q2 24 | 14.3% | 13.5% | ||
| Q1 24 | 15.9% | 23.9% |
| Q4 25 | 14.5% | 4.8% | ||
| Q3 25 | 9.2% | 4.1% | ||
| Q2 25 | 9.0% | 7.4% | ||
| Q1 25 | 8.3% | 16.3% | ||
| Q4 24 | 11.9% | 6.6% | ||
| Q3 24 | 7.6% | 10.0% | ||
| Q2 24 | 11.0% | 6.3% | ||
| Q1 24 | 12.7% | 19.9% |
| Q4 25 | $3.59 | $0.37 | ||
| Q3 25 | $2.58 | $0.30 | ||
| Q2 25 | $2.07 | $0.49 | ||
| Q1 25 | $1.84 | $2.06 | ||
| Q4 24 | $3.03 | $0.49 | ||
| Q3 24 | $2.16 | $0.68 | ||
| Q2 24 | $2.49 | $0.38 | ||
| Q1 24 | $2.89 | $2.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $236.0M |
| Total DebtLower is stronger | $1.8B | $3.9B |
| Stockholders' EquityBook value | $4.8B | $-1.6B |
| Total Assets | $32.6B | $5.0B |
| Debt / EquityLower = less leverage | 0.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $236.0M | ||
| Q3 25 | $1.8B | $364.0M | ||
| Q2 25 | $1.3B | $636.0M | ||
| Q1 25 | $1.3B | $674.0M | ||
| Q4 24 | $1.4B | $191.0M | ||
| Q3 24 | $1.3B | $514.0M | ||
| Q2 24 | $1.1B | $855.0M | ||
| Q1 24 | $1.1B | $1.1B |
| Q4 25 | $1.8B | $3.9B | ||
| Q3 25 | $1.8B | $3.9B | ||
| Q2 25 | $1.5B | $3.9B | ||
| Q1 25 | $1.5B | $3.9B | ||
| Q4 24 | $1.5B | $4.2B | ||
| Q3 24 | $1.5B | $4.2B | ||
| Q2 24 | $1.5B | $4.3B | ||
| Q1 24 | $1.5B | $4.4B |
| Q4 25 | $4.8B | $-1.6B | ||
| Q3 25 | $4.7B | $-1.5B | ||
| Q2 25 | $4.5B | $-1.5B | ||
| Q1 25 | $4.4B | $-1.4B | ||
| Q4 24 | $4.5B | $-1.7B | ||
| Q3 24 | $4.7B | $-1.7B | ||
| Q2 24 | $4.4B | $-1.7B | ||
| Q1 24 | $4.2B | $-1.6B |
| Q4 25 | $32.6B | $5.0B | ||
| Q3 25 | $33.8B | $4.8B | ||
| Q2 25 | $30.7B | $4.9B | ||
| Q1 25 | $30.3B | $4.9B | ||
| Q4 24 | $30.8B | $5.0B | ||
| Q3 24 | $32.6B | $4.9B | ||
| Q2 24 | $29.9B | $5.2B | ||
| Q1 24 | $30.0B | $5.5B |
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $784.0M | $80.0M |
| Free Cash FlowOCF − Capex | — | $-1.0M |
| FCF MarginFCF / Revenue | — | -0.1% |
| Capex IntensityCapex / Revenue | — | 5.1% |
| Cash ConversionOCF / Net Profit | 2.62× | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.0M | $80.0M | ||
| Q3 25 | $216.0M | $-43.0M | ||
| Q2 25 | $191.0M | $188.0M | ||
| Q1 25 | $342.0M | $955.0M | ||
| Q4 24 | $674.0M | $-99.0M | ||
| Q3 24 | $459.0M | $-46.0M | ||
| Q2 24 | $-88.0M | $76.0M | ||
| Q1 24 | $107.0M | $926.0M |
| Q4 25 | — | $-1.0M | ||
| Q3 25 | — | $-99.0M | ||
| Q2 25 | — | $151.0M | ||
| Q1 25 | — | $895.0M | ||
| Q4 24 | — | $-164.0M | ||
| Q3 24 | — | $-101.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | — | $878.0M |
| Q4 25 | — | -0.1% | ||
| Q3 25 | — | -6.4% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 32.1% | ||
| Q4 24 | — | -10.2% | ||
| Q3 24 | — | -6.6% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 30.2% |
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | 2.62× | 1.04× | ||
| Q3 25 | 1.00× | -0.67× | ||
| Q2 25 | 1.10× | 1.79× | ||
| Q1 25 | 2.22× | 2.11× | ||
| Q4 24 | 2.64× | -0.93× | ||
| Q3 24 | 2.54× | -0.30× | ||
| Q2 24 | -0.42× | 0.87× | ||
| Q1 24 | 0.44× | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
