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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.4B, roughly 1.2× AMERICAN AXLE & MANUFACTURING HOLDINGS INC). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -5.4%, a 10.3% gap on every dollar of revenue. On growth, AMERICAN AXLE & MANUFACTURING HOLDINGS INC posted the faster year-over-year revenue change (0.2% vs -1.0%). AMERICAN AXLE & MANUFACTURING HOLDINGS INC produced more free cash flow last quarter ($54.7M vs $-1.0M). Over the past eight quarters, AMERICAN AXLE & MANUFACTURING HOLDINGS INC's revenue compounded faster (-7.2% CAGR vs -26.0%).
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
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.
AXL vs BBWI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $-75.3M | $77.0M |
| Gross Margin | 10.2% | 41.3% |
| Operating Margin | -2.4% | 10.1% |
| Net Margin | -5.4% | 4.8% |
| Revenue YoY | 0.2% | -1.0% |
| Net Profit YoY | -449.6% | -27.4% |
| EPS (diluted) | $-0.62 | $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 | $1.4B | $1.6B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.6B | $2.9B |
| Q4 25 | $-75.3M | $77.0M | ||
| Q3 25 | $9.2M | $64.0M | ||
| Q2 25 | $39.3M | $105.0M | ||
| Q1 25 | $7.1M | $453.0M | ||
| Q4 24 | $-13.7M | $106.0M | ||
| Q3 24 | $10.0M | $152.0M | ||
| Q2 24 | $18.2M | $87.0M | ||
| Q1 24 | $20.5M | $579.0M |
| Q4 25 | 10.2% | 41.3% | ||
| Q3 25 | 12.6% | 41.3% | ||
| Q2 25 | 13.1% | 45.4% | ||
| Q1 25 | 12.3% | 46.7% | ||
| Q4 24 | 11.2% | 43.5% | ||
| Q3 24 | 11.4% | 41.0% | ||
| Q2 24 | 13.3% | 43.8% | ||
| Q1 24 | 12.4% | 45.9% |
| Q4 25 | -2.4% | 10.1% | ||
| Q3 25 | 3.2% | 10.1% | ||
| Q2 25 | 3.6% | 14.7% | ||
| Q1 25 | 3.0% | 24.3% | ||
| Q4 24 | 2.6% | 13.5% | ||
| Q3 24 | 2.8% | 12.0% | ||
| Q2 24 | 5.3% | 13.5% | ||
| Q1 24 | 4.8% | 23.9% |
| Q4 25 | -5.4% | 4.8% | ||
| Q3 25 | 0.6% | 4.1% | ||
| Q2 25 | 2.6% | 7.4% | ||
| Q1 25 | 0.5% | 16.3% | ||
| Q4 24 | -1.0% | 6.6% | ||
| Q3 24 | 0.7% | 10.0% | ||
| Q2 24 | 1.1% | 6.3% | ||
| Q1 24 | 1.3% | 19.9% |
| Q4 25 | $-0.62 | $0.37 | ||
| Q3 25 | $0.07 | $0.30 | ||
| Q2 25 | $0.32 | $0.49 | ||
| Q1 25 | $0.06 | $2.06 | ||
| Q4 24 | $-0.11 | $0.49 | ||
| Q3 24 | $0.08 | $0.68 | ||
| Q2 24 | $0.15 | $0.38 | ||
| Q1 24 | $0.17 | $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 | $708.9M | $236.0M |
| Total DebtLower is stronger | $4.0B | $3.9B |
| Stockholders' EquityBook value | $640.0M | $-1.6B |
| Total Assets | $6.7B | $5.0B |
| Debt / EquityLower = less leverage | 6.31× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $708.9M | $236.0M | ||
| Q3 25 | $714.1M | $364.0M | ||
| Q2 25 | $586.5M | $636.0M | ||
| Q1 25 | $549.2M | $674.0M | ||
| Q4 24 | $552.9M | $191.0M | ||
| Q3 24 | $542.5M | $514.0M | ||
| Q2 24 | $519.9M | $855.0M | ||
| Q1 24 | $469.8M | $1.1B |
| Q4 25 | $4.0B | $3.9B | ||
| Q3 25 | $2.6B | $3.9B | ||
| Q2 25 | $2.6B | $3.9B | ||
| Q1 25 | $2.6B | $3.9B | ||
| Q4 24 | $2.6B | $4.2B | ||
| Q3 24 | $2.6B | $4.2B | ||
| Q2 24 | $2.7B | $4.3B | ||
| Q1 24 | $2.7B | $4.4B |
| Q4 25 | $640.0M | $-1.6B | ||
| Q3 25 | $718.4M | $-1.5B | ||
| Q2 25 | $673.0M | $-1.5B | ||
| Q1 25 | $596.3M | $-1.4B | ||
| Q4 24 | $562.8M | $-1.7B | ||
| Q3 24 | $616.3M | $-1.7B | ||
| Q2 24 | $609.6M | $-1.7B | ||
| Q1 24 | $621.4M | $-1.6B |
| Q4 25 | $6.7B | $5.0B | ||
| Q3 25 | $5.3B | $4.8B | ||
| Q2 25 | $5.3B | $4.9B | ||
| Q1 25 | $5.1B | $4.9B | ||
| Q4 24 | $5.1B | $5.0B | ||
| Q3 24 | $5.3B | $4.9B | ||
| Q2 24 | $5.3B | $5.2B | ||
| Q1 24 | $5.4B | $5.5B |
| Q4 25 | 6.31× | — | ||
| Q3 25 | 3.61× | — | ||
| Q2 25 | 3.86× | — | ||
| Q1 25 | 4.38× | — | ||
| Q4 24 | 4.58× | — | ||
| Q3 24 | 4.28× | — | ||
| Q2 24 | 4.42× | — | ||
| Q1 24 | 4.40× | — |
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 | $120.5M | $80.0M |
| Free Cash FlowOCF − Capex | $54.7M | $-1.0M |
| FCF MarginFCF / Revenue | 4.0% | -0.1% |
| Capex IntensityCapex / Revenue | 4.8% | 5.1% |
| Cash ConversionOCF / Net Profit | — | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | $155.1M | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.5M | $80.0M | ||
| Q3 25 | $143.3M | $-43.0M | ||
| Q2 25 | $91.9M | $188.0M | ||
| Q1 25 | $55.9M | $955.0M | ||
| Q4 24 | $151.2M | $-99.0M | ||
| Q3 24 | $143.6M | $-46.0M | ||
| Q2 24 | $142.8M | $76.0M | ||
| Q1 24 | $17.8M | $926.0M |
| Q4 25 | $54.7M | $-1.0M | ||
| Q3 25 | $79.2M | $-99.0M | ||
| Q2 25 | $34.6M | $151.0M | ||
| Q1 25 | $-13.4M | $895.0M | ||
| Q4 24 | $73.2M | $-164.0M | ||
| Q3 24 | $70.4M | $-101.0M | ||
| Q2 24 | $94.0M | $30.0M | ||
| Q1 24 | $-30.2M | $878.0M |
| Q4 25 | 4.0% | -0.1% | ||
| Q3 25 | 5.3% | -6.4% | ||
| Q2 25 | 2.3% | 10.6% | ||
| Q1 25 | -0.9% | 32.1% | ||
| Q4 24 | 5.3% | -10.2% | ||
| Q3 24 | 4.7% | -6.6% | ||
| Q2 24 | 5.8% | 2.2% | ||
| Q1 24 | -1.9% | 30.2% |
| Q4 25 | 4.8% | 5.1% | ||
| Q3 25 | 4.3% | 3.6% | ||
| Q2 25 | 3.7% | 2.6% | ||
| Q1 25 | 4.9% | 2.2% | ||
| Q4 24 | 5.6% | 4.0% | ||
| Q3 24 | 4.9% | 3.6% | ||
| Q2 24 | 3.0% | 3.3% | ||
| Q1 24 | 3.0% | 1.6% |
| Q4 25 | — | 1.04× | ||
| Q3 25 | 15.58× | -0.67× | ||
| Q2 25 | 2.34× | 1.79× | ||
| Q1 25 | 7.87× | 2.11× | ||
| Q4 24 | — | -0.93× | ||
| Q3 24 | 14.36× | -0.30× | ||
| Q2 24 | 7.85× | 0.87× | ||
| Q1 24 | 0.87× | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
