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Side-by-side financial comparison of Avery Dennison (AVY) 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 $2.3B, roughly 1.2× Avery Dennison). Avery Dennison runs the higher net margin — 7.3% vs -3.7%, a 11.0% gap on every dollar of revenue. On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs 7.0%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $104.4M). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs 1.4%).
Avery Dennison Corporation is an American multinational manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. The company is a member of the Fortune 500 and is headquartered in Mentor, Ohio.
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...
AVY vs BHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $2.8B |
| Net Profit | $168.1M | $-103.0M |
| Gross Margin | 28.9% | — |
| Operating Margin | 10.7% | 17.0% |
| Net Margin | 7.3% | -3.7% |
| Revenue YoY | 7.0% | 9.3% |
| Net Profit YoY | 1.1% | -205.1% |
| EPS (diluted) | — | $-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.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $2.8B | ||
| Q3 25 | $2.2B | $2.7B | ||
| Q2 25 | $2.2B | $2.5B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.2B | $2.6B | ||
| Q3 24 | $2.2B | $2.5B | ||
| Q2 24 | $2.2B | $2.4B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $-103.0M | ||
| Q3 25 | $166.3M | $179.0M | ||
| Q2 25 | $189.0M | $148.0M | ||
| Q1 25 | $166.3M | $-58.0M | ||
| Q4 24 | $174.0M | $98.0M | ||
| Q3 24 | $181.7M | $-85.0M | ||
| Q2 24 | $176.8M | $10.0M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | — | ||
| Q3 25 | 28.7% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | 27.9% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.6% | — |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 17.0% | ||
| Q3 25 | 10.6% | 23.1% | ||
| Q2 25 | 11.5% | 17.5% | ||
| Q1 25 | 10.6% | 12.2% | ||
| Q4 24 | 11.0% | 21.8% | ||
| Q3 24 | 11.0% | 12.7% | ||
| Q2 24 | 10.7% | 16.2% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | -3.7% | ||
| Q3 25 | 7.5% | 6.7% | ||
| Q2 25 | 8.5% | 5.8% | ||
| Q1 25 | 7.7% | -2.6% | ||
| Q4 24 | 8.0% | 3.8% | ||
| Q3 24 | 8.3% | -3.4% | ||
| Q2 24 | 7.9% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $-0.30 | ||
| Q3 25 | $2.13 | $0.48 | ||
| Q2 25 | $2.41 | $0.40 | ||
| Q1 25 | $2.09 | $-0.16 | ||
| Q4 24 | $2.17 | $0.24 | ||
| Q3 24 | $2.25 | $-0.23 | ||
| Q2 24 | $2.18 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $255.1M | $1.3B |
| Total DebtLower is stronger | $3.2B | $20.8B |
| Stockholders' EquityBook value | $2.3B | $-554.0M |
| Total Assets | $9.0B | $26.4B |
| Debt / EquityLower = less leverage | 1.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $1.3B | ||
| Q3 25 | $536.3M | $1.3B | ||
| Q2 25 | $215.9M | $1.7B | ||
| Q1 25 | $195.9M | $1.1B | ||
| Q4 24 | $329.1M | $1.2B | ||
| Q3 24 | $212.7M | $719.0M | ||
| Q2 24 | $208.8M | $595.0M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $20.8B | ||
| Q3 25 | $3.2B | $21.0B | ||
| Q2 25 | $2.6B | $21.7B | ||
| Q1 25 | $2.6B | $21.5B | ||
| Q4 24 | $2.6B | $21.6B | ||
| Q3 24 | $2.0B | $21.5B | ||
| Q2 24 | $2.0B | $21.7B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $-554.0M | ||
| Q3 25 | $2.2B | $-565.0M | ||
| Q2 25 | $2.2B | $-764.0M | ||
| Q1 25 | $2.2B | $-1.2B | ||
| Q4 24 | $2.3B | $-1.3B | ||
| Q3 24 | $2.4B | $-1.2B | ||
| Q2 24 | $2.3B | $-1.2B |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $26.4B | ||
| Q3 25 | $8.9B | $26.8B | ||
| Q2 25 | $8.6B | $27.3B | ||
| Q1 25 | $8.4B | $26.4B | ||
| Q4 24 | $8.4B | $26.5B | ||
| Q3 24 | $8.5B | $26.5B | ||
| Q2 24 | $8.3B | $26.5B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 0.89× | — |
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 | — | $495.0M |
| Free Cash FlowOCF − Capex | $104.4M | $403.0M |
| FCF MarginFCF / Revenue | 4.5% | 14.4% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $495.0M | ||
| Q3 25 | $312.1M | $405.0M | ||
| Q2 25 | $208.8M | $289.0M | ||
| Q1 25 | $-16.3M | $211.0M | ||
| Q4 24 | $351.2M | $601.0M | ||
| Q3 24 | $270.1M | $405.0M | ||
| Q2 24 | $197.7M | $380.0M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $403.0M | ||
| Q3 25 | $276.2M | $314.0M | ||
| Q2 25 | $178.8M | $190.0M | ||
| Q1 25 | $-52.3M | $96.0M | ||
| Q4 24 | $281.7M | $495.0M | ||
| Q3 24 | $227.1M | $334.0M | ||
| Q2 24 | $150.2M | $302.0M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 14.4% | ||
| Q3 25 | 12.5% | 11.7% | ||
| Q2 25 | 8.1% | 7.5% | ||
| Q1 25 | -2.4% | 4.2% | ||
| Q4 24 | 12.9% | 19.3% | ||
| Q3 24 | 10.4% | 13.3% | ||
| Q2 24 | 6.7% | 12.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 3.3% | ||
| Q3 25 | 1.6% | 3.4% | ||
| Q2 25 | 1.4% | 3.9% | ||
| Q1 25 | 1.7% | 5.1% | ||
| Q4 24 | 3.2% | 4.1% | ||
| Q3 24 | 2.0% | 2.8% | ||
| Q2 24 | 2.1% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.88× | 2.26× | ||
| Q2 25 | 1.10× | 1.95× | ||
| Q1 25 | -0.10× | — | ||
| Q4 24 | 2.02× | 6.13× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.12× | 38.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVY
| Materials Group | $1.6B | 72% |
| Solutions Group | $649.2M | 28% |
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% |
