vs
Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and FLOWERS FOODS INC (FLO). 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 $1.2B, roughly 1.3× FLOWERS FOODS INC). On growth, Bath & Body Works, Inc. posted the faster year-over-year revenue change (-1.0% vs -75.8%). Over the past eight quarters, FLOWERS FOODS INC's revenue compounded faster (-11.6% 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.
Flowers Foods, headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, rolls, snack cakes, pastries, and tortillas. As of February 2013, Flowers Foods had grown to be the "second-largest baking company in the United States."
BBWI vs FLO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $77.0M | — |
| Gross Margin | 41.3% | — |
| Operating Margin | 10.1% | — |
| Net Margin | 4.8% | — |
| Revenue YoY | -1.0% | -75.8% |
| Net Profit YoY | -27.4% | — |
| EPS (diluted) | $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 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $77.0M | $39.5M | ||
| Q3 25 | $64.0M | $58.4M | ||
| Q2 25 | $105.0M | $53.0M | ||
| Q1 25 | $453.0M | — | ||
| Q4 24 | $106.0M | $65.0M | ||
| Q3 24 | $152.0M | $67.0M | ||
| Q2 24 | $87.0M | $73.0M | ||
| Q1 24 | $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 | 10.1% | 5.4% | ||
| Q3 25 | 10.1% | 7.5% | ||
| Q2 25 | 14.7% | 5.5% | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 13.5% | 7.6% | ||
| Q3 24 | 12.0% | 7.8% | ||
| Q2 24 | 13.5% | 6.4% | ||
| Q1 24 | 23.9% | — |
| Q4 25 | 4.8% | 3.2% | ||
| Q3 25 | 4.1% | 4.7% | ||
| Q2 25 | 7.4% | 3.4% | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | 6.6% | 5.5% | ||
| Q3 24 | 10.0% | 5.5% | ||
| Q2 24 | 6.3% | 4.6% | ||
| Q1 24 | 19.9% | — |
| Q4 25 | $0.37 | $0.19 | ||
| Q3 25 | $0.30 | $0.28 | ||
| Q2 25 | $0.49 | $0.25 | ||
| Q1 25 | $2.06 | — | ||
| Q4 24 | $0.49 | $0.31 | ||
| Q3 24 | $0.68 | $0.32 | ||
| Q2 24 | $0.38 | $0.34 | ||
| Q1 24 | $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 | $236.0M | $12.1M |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $-1.6B | — |
| Total Assets | $5.0B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $16.7M | ||
| Q3 25 | $364.0M | $11.0M | ||
| Q2 25 | $636.0M | $7.3M | ||
| Q1 25 | $674.0M | — | ||
| Q4 24 | $191.0M | $15.0M | ||
| Q3 24 | $514.0M | $6.9M | ||
| Q2 24 | $855.0M | $15.8M | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.9B | $1.8B | ||
| Q3 25 | $3.9B | $1.7B | ||
| Q2 25 | $3.9B | $1.8B | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | $1.1B | ||
| Q3 24 | $4.2B | $1.1B | ||
| Q2 24 | $4.3B | $1.0B | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $-1.6B | $1.4B | ||
| Q3 25 | $-1.5B | $1.4B | ||
| Q2 25 | $-1.5B | $1.4B | ||
| Q1 25 | $-1.4B | — | ||
| Q4 24 | $-1.7B | $1.4B | ||
| Q3 24 | $-1.7B | $1.4B | ||
| Q2 24 | $-1.7B | $1.4B | ||
| Q1 24 | $-1.6B | — |
| Q4 25 | $5.0B | $4.3B | ||
| Q3 25 | $4.8B | $4.3B | ||
| Q2 25 | $4.9B | $4.3B | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | $3.4B | ||
| Q3 24 | $4.9B | $3.4B | ||
| Q2 24 | $5.2B | $3.4B | ||
| Q1 24 | $5.5B | — |
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.26× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | — |
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 | $125.4M |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.1% | — |
| Capex IntensityCapex / Revenue | 5.1% | — |
| Cash ConversionOCF / Net Profit | 1.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $54.4M | ||
| Q3 25 | $-43.0M | $130.8M | ||
| Q2 25 | $188.0M | $135.6M | ||
| Q1 25 | $955.0M | — | ||
| Q4 24 | $-99.0M | $113.9M | ||
| Q3 24 | $-46.0M | $63.3M | ||
| Q2 24 | $76.0M | $105.1M | ||
| Q1 24 | $926.0M | — |
| Q4 25 | $-1.0M | $30.4M | ||
| Q3 25 | $-99.0M | $100.0M | ||
| Q2 25 | $151.0M | $110.1M | ||
| Q1 25 | $895.0M | — | ||
| Q4 24 | $-164.0M | $88.6M | ||
| Q3 24 | $-101.0M | $35.4M | ||
| Q2 24 | $30.0M | $71.8M | ||
| Q1 24 | $878.0M | — |
| Q4 25 | -0.1% | 2.5% | ||
| Q3 25 | -6.4% | 8.0% | ||
| Q2 25 | 10.6% | 7.1% | ||
| Q1 25 | 32.1% | — | ||
| Q4 24 | -10.2% | 7.4% | ||
| Q3 24 | -6.6% | 2.9% | ||
| Q2 24 | 2.2% | 4.6% | ||
| Q1 24 | 30.2% | — |
| Q4 25 | 5.1% | 2.0% | ||
| Q3 25 | 3.6% | 2.5% | ||
| Q2 25 | 2.6% | 1.6% | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 4.0% | 2.1% | ||
| Q3 24 | 3.6% | 2.3% | ||
| Q2 24 | 3.3% | 2.1% | ||
| Q1 24 | 1.6% | — |
| Q4 25 | 1.04× | 1.38× | ||
| Q3 25 | -0.67× | 2.24× | ||
| Q2 25 | 1.79× | 2.56× | ||
| Q1 25 | 2.11× | — | ||
| Q4 24 | -0.93× | 1.75× | ||
| Q3 24 | -0.30× | 0.94× | ||
| Q2 24 | 0.87× | 1.44× | ||
| Q1 24 | 1.60× | — |
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% |
FLO
Segment breakdown not available.
