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Side-by-side financial comparison of APA Corporation (APA) and Bausch Health Companies Inc. (BHC). Click either name above to swap in a different company.
Bausch Health Companies Inc. is the larger business by last-quarter revenue ($2.8B vs $2.2B, roughly 1.3× APA Corporation). APA Corporation runs the higher net margin — 15.0% vs -3.7%, a 18.7% gap on every dollar of revenue. On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs -24.3%). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs 1.4%).
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
Bausch Health Companies Inc. is a global, diversified American-Canadian pharmaceutical company. Its global corporate headquarters are located in Laval, Quebec, Canada, and its U.S. headquarters are in Bridgewater, New Jersey. It develops, manufactures and markets a range of pharmaceutical products in gastroenterology, hepatology, neurology, dermatology, dentistry, medical aesthetics, and international pharmaceuticals. Bausch Health manufactures and markets branded pharmaceuticals, generic ph...
APA vs BHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $2.8B |
| Net Profit | $331.0M | $-103.0M |
| Gross Margin | — | — |
| Operating Margin | 32.5% | 17.0% |
| Net Margin | 15.0% | -3.7% |
| Revenue YoY | -24.3% | 9.3% |
| Net Profit YoY | -22.1% | -205.1% |
| EPS (diluted) | $0.79 | $-0.30 |
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 | $2.2B | $2.8B | ||
| Q3 25 | $2.3B | $2.7B | ||
| Q2 25 | $2.3B | $2.5B | ||
| Q1 25 | $2.7B | $2.3B | ||
| Q4 24 | $2.9B | $2.6B | ||
| Q3 24 | $2.7B | $2.5B | ||
| Q2 24 | $2.8B | $2.4B | ||
| Q1 24 | $2.1B | $2.2B |
| Q4 25 | $331.0M | $-103.0M | ||
| Q3 25 | $205.0M | $179.0M | ||
| Q2 25 | $603.0M | $148.0M | ||
| Q1 25 | $418.0M | $-58.0M | ||
| Q4 24 | $425.0M | $98.0M | ||
| Q3 24 | $-223.0M | $-85.0M | ||
| Q2 24 | $541.0M | $10.0M | ||
| Q1 24 | $212.0M | $-64.0M |
| Q4 25 | 32.5% | 17.0% | ||
| Q3 25 | 33.7% | 23.1% | ||
| Q2 25 | 31.8% | 17.5% | ||
| Q1 25 | 31.9% | 12.2% | ||
| Q4 24 | 31.4% | 21.8% | ||
| Q3 24 | -5.2% | 12.7% | ||
| Q2 24 | 34.4% | 16.2% | ||
| Q1 24 | 32.2% | 13.1% |
| Q4 25 | 15.0% | -3.7% | ||
| Q3 25 | 9.0% | 6.7% | ||
| Q2 25 | 26.0% | 5.8% | ||
| Q1 25 | 15.4% | -2.6% | ||
| Q4 24 | 14.6% | 3.8% | ||
| Q3 24 | -8.1% | -3.4% | ||
| Q2 24 | 19.0% | 0.4% | ||
| Q1 24 | 9.9% | -3.0% |
| Q4 25 | $0.79 | $-0.30 | ||
| Q3 25 | $0.57 | $0.48 | ||
| Q2 25 | $1.67 | $0.40 | ||
| Q1 25 | $0.96 | $-0.16 | ||
| Q4 24 | $0.97 | $0.24 | ||
| Q3 24 | $-0.60 | $-0.23 | ||
| Q2 24 | $1.46 | $0.03 | ||
| Q1 24 | $0.44 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.0M | $1.3B |
| Total DebtLower is stronger | $4.3B | $20.8B |
| Stockholders' EquityBook value | $6.1B | $-554.0M |
| Total Assets | $17.8B | $26.4B |
| Debt / EquityLower = less leverage | 0.70× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $516.0M | $1.3B | ||
| Q3 25 | $475.0M | $1.3B | ||
| Q2 25 | $107.0M | $1.7B | ||
| Q1 25 | $67.0M | $1.1B | ||
| Q4 24 | $625.0M | $1.2B | ||
| Q3 24 | $64.0M | $719.0M | ||
| Q2 24 | $160.0M | $595.0M | ||
| Q1 24 | $102.0M | $733.0M |
| Q4 25 | $4.3B | $20.8B | ||
| Q3 25 | $4.3B | $21.0B | ||
| Q2 25 | $4.3B | $21.7B | ||
| Q1 25 | $5.2B | $21.5B | ||
| Q4 24 | $6.0B | $21.6B | ||
| Q3 24 | $6.4B | $21.5B | ||
| Q2 24 | $6.7B | $21.7B | ||
| Q1 24 | $5.2B | $22.1B |
| Q4 25 | $6.1B | $-554.0M | ||
| Q3 25 | $6.0B | $-565.0M | ||
| Q2 25 | $5.9B | $-764.0M | ||
| Q1 25 | $5.4B | $-1.2B | ||
| Q4 24 | $5.3B | $-1.3B | ||
| Q3 24 | $5.1B | $-1.2B | ||
| Q2 24 | $5.4B | $-1.2B | ||
| Q1 24 | $2.6B | $-1.1B |
| Q4 25 | $17.8B | $26.4B | ||
| Q3 25 | $17.7B | $26.8B | ||
| Q2 25 | $18.1B | $27.3B | ||
| Q1 25 | $18.5B | $26.4B | ||
| Q4 24 | $19.4B | $26.5B | ||
| Q3 24 | $19.4B | $26.5B | ||
| Q2 24 | $20.2B | $26.5B | ||
| Q1 24 | $15.0B | $26.9B |
| Q4 25 | 0.70× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 1.99× | — |
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 | $808.0M | $495.0M |
| Free Cash FlowOCF − Capex | — | $403.0M |
| FCF MarginFCF / Revenue | — | 14.4% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | 2.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $808.0M | $495.0M | ||
| Q3 25 | $1.5B | $405.0M | ||
| Q2 25 | $1.2B | $289.0M | ||
| Q1 25 | $1.1B | $211.0M | ||
| Q4 24 | $1.0B | $601.0M | ||
| Q3 24 | $1.3B | $405.0M | ||
| Q2 24 | $877.0M | $380.0M | ||
| Q1 24 | $368.0M | $211.0M |
| Q4 25 | — | $403.0M | ||
| Q3 25 | — | $314.0M | ||
| Q2 25 | — | $190.0M | ||
| Q1 25 | — | $96.0M | ||
| Q4 24 | — | $495.0M | ||
| Q3 24 | — | $334.0M | ||
| Q2 24 | — | $302.0M | ||
| Q1 24 | — | $129.0M |
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 13.3% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 6.0% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 3.8% |
| Q4 25 | 2.44× | — | ||
| Q3 25 | 7.12× | 2.26× | ||
| Q2 25 | 1.96× | 1.95× | ||
| Q1 25 | 2.62× | — | ||
| Q4 24 | 2.44× | 6.13× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.62× | 38.00× | ||
| Q1 24 | 1.74× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
BHC
| Bausch Lomb | $1.4B | 50% |
| Salix Segment | $693.0M | 25% |
| International Rx | $306.0M | 11% |
| Diversified Segment | $255.0M | 9% |
| Solta Medical Segment | $137.0M | 5% |
