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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and F&G Annuities & Life, Inc. (FG). Click either name above to swap in a different company.
F&G Annuities & Life, Inc. is the larger business by last-quarter revenue ($1.8B vs $1.6B, roughly 1.1× Bath & Body Works, Inc.). F&G Annuities & Life, Inc. runs the higher net margin — 7.3% vs 4.8%, a 2.4% gap on every dollar of revenue. On growth, F&G Annuities & Life, Inc. posted the faster year-over-year revenue change (13.2% vs -1.0%). Over the past eight quarters, F&G Annuities & Life, Inc.'s revenue compounded faster (6.1% CAGR vs -26.0%).
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.
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
BBWI vs FG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.8B |
| Net Profit | $77.0M | $128.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 10.1% | — |
| Net Margin | 4.8% | 7.3% |
| Revenue YoY | -1.0% | 13.2% |
| Net Profit YoY | -27.4% | -60.9% |
| EPS (diluted) | $0.37 | $0.97 |
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 | $1.6B | $1.8B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $2.8B | $908.0M | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $2.9B | $1.6B |
| Q4 25 | $77.0M | $128.0M | ||
| Q3 25 | $64.0M | $118.0M | ||
| Q2 25 | $105.0M | $40.0M | ||
| Q1 25 | $453.0M | $-21.0M | ||
| Q4 24 | $106.0M | $327.0M | ||
| Q3 24 | $152.0M | $-6.0M | ||
| Q2 24 | $87.0M | $203.0M | ||
| Q1 24 | $579.0M | $115.0M |
| 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 | 10.1% | — | ||
| Q3 25 | 10.1% | — | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 23.9% | — |
| Q4 25 | 4.8% | 7.3% | ||
| Q3 25 | 4.1% | 7.0% | ||
| Q2 25 | 7.4% | 2.9% | ||
| Q1 25 | 16.3% | -2.3% | ||
| Q4 24 | 6.6% | 21.0% | ||
| Q3 24 | 10.0% | -0.4% | ||
| Q2 24 | 6.3% | 17.3% | ||
| Q1 24 | 19.9% | 7.3% |
| Q4 25 | $0.37 | $0.97 | ||
| Q3 25 | $0.30 | $0.85 | ||
| Q2 25 | $0.49 | $0.26 | ||
| Q1 25 | $2.06 | $-0.20 | ||
| Q4 24 | $0.49 | $2.53 | ||
| Q3 24 | $0.68 | $-0.08 | ||
| Q2 24 | $0.38 | $1.55 | ||
| Q1 24 | $2.54 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $236.0M | $1.5B |
| Total DebtLower is stronger | $3.9B | $2.2B |
| Stockholders' EquityBook value | $-1.6B | $4.8B |
| Total Assets | $5.0B | $98.4B |
| Debt / EquityLower = less leverage | — | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $1.5B | ||
| Q3 25 | $364.0M | $2.2B | ||
| Q2 25 | $636.0M | $1.9B | ||
| Q1 25 | $674.0M | $3.3B | ||
| Q4 24 | $191.0M | $2.3B | ||
| Q3 24 | $514.0M | $3.5B | ||
| Q2 24 | $855.0M | $3.5B | ||
| Q1 24 | $1.1B | $2.4B |
| Q4 25 | $3.9B | $2.2B | ||
| Q3 25 | $3.9B | $2.2B | ||
| Q2 25 | $3.9B | $2.2B | ||
| Q1 25 | $3.9B | $2.2B | ||
| Q4 24 | $4.2B | $2.2B | ||
| Q3 24 | $4.2B | $2.0B | ||
| Q2 24 | $4.3B | $2.0B | ||
| Q1 24 | $4.4B | $1.7B |
| Q4 25 | $-1.6B | $4.8B | ||
| Q3 25 | $-1.5B | $4.8B | ||
| Q2 25 | $-1.5B | $4.4B | ||
| Q1 25 | $-1.4B | $4.4B | ||
| Q4 24 | $-1.7B | $4.0B | ||
| Q3 24 | $-1.7B | $4.3B | ||
| Q2 24 | $-1.7B | $3.7B | ||
| Q1 24 | $-1.6B | $3.5B |
| Q4 25 | $5.0B | $98.4B | ||
| Q3 25 | $4.8B | $96.1B | ||
| Q2 25 | $4.9B | $91.8B | ||
| Q1 25 | $4.9B | $88.0B | ||
| Q4 24 | $5.0B | $85.0B | ||
| Q3 24 | $4.9B | $84.1B | ||
| Q2 24 | $5.2B | $78.5B | ||
| Q1 24 | $5.5B | $74.4B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.49× |
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 | $80.0M | $1.2B |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.1% | — |
| Capex IntensityCapex / Revenue | 5.1% | — |
| Cash ConversionOCF / Net Profit | 1.04× | 9.13× |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $1.2B | ||
| Q3 25 | $-43.0M | $937.0M | ||
| Q2 25 | $188.0M | $1.6B | ||
| Q1 25 | $955.0M | $956.0M | ||
| Q4 24 | $-99.0M | $1.3B | ||
| Q3 24 | $-46.0M | $2.1B | ||
| Q2 24 | $76.0M | $1.1B | ||
| Q1 24 | $926.0M | $1.5B |
| 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 | 1.04× | 9.13× | ||
| Q3 25 | -0.67× | 7.94× | ||
| Q2 25 | 1.79× | 40.50× | ||
| Q1 25 | 2.11× | — | ||
| Q4 24 | -0.93× | 4.04× | ||
| Q3 24 | -0.30× | — | ||
| Q2 24 | 0.87× | 5.20× | ||
| Q1 24 | 1.60× | 13.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
FG
Segment breakdown not available.
