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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and Lineage, Inc. (LINE). 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× Lineage, Inc.). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -7.3%, a 12.1% gap on every dollar of revenue. On growth, Lineage, Inc. posted the faster year-over-year revenue change (3.1% vs -1.0%). Lineage, Inc. produced more free cash flow last quarter ($35.0M vs $-1.0M).
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.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
BBWI vs LINE — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.4B |
| Net Profit | $77.0M | $-100.0M |
| Gross Margin | 41.3% | 32.3% |
| Operating Margin | 10.1% | 2.5% |
| Net Margin | 4.8% | -7.3% |
| Revenue YoY | -1.0% | 3.1% |
| Net Profit YoY | -27.4% | 79.4% |
| EPS (diluted) | $0.37 | $-0.44 |
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 | — | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $2.9B | $1.3B |
| Q4 25 | $77.0M | — | ||
| Q3 25 | $64.0M | $-100.0M | ||
| Q2 25 | $105.0M | $-6.0M | ||
| Q1 25 | $453.0M | $0 | ||
| Q4 24 | $106.0M | $-71.0M | ||
| Q3 24 | $152.0M | $-485.0M | ||
| Q2 24 | $87.0M | $-68.0M | ||
| Q1 24 | $579.0M | $-40.0M |
| Q4 25 | 41.3% | — | ||
| Q3 25 | 41.3% | 32.3% | ||
| Q2 25 | 45.4% | 31.9% | ||
| Q1 25 | 46.7% | 32.2% | ||
| Q4 24 | 43.5% | 32.3% | ||
| Q3 24 | 41.0% | 32.8% | ||
| Q2 24 | 43.8% | 33.4% | ||
| Q1 24 | 45.9% | 33.4% |
| Q4 25 | 10.1% | — | ||
| Q3 25 | 10.1% | 2.5% | ||
| Q2 25 | 14.7% | 1.7% | ||
| Q1 25 | 24.3% | 4.3% | ||
| Q4 24 | 13.5% | -1.6% | ||
| Q3 24 | 12.0% | -38.6% | ||
| Q2 24 | 13.5% | 5.5% | ||
| Q1 24 | 23.9% | 7.6% |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.1% | -7.3% | ||
| Q2 25 | 7.4% | -0.4% | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | 6.6% | -5.3% | ||
| Q3 24 | 10.0% | -36.3% | ||
| Q2 24 | 6.3% | -5.1% | ||
| Q1 24 | 19.9% | -3.0% |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.30 | $-0.44 | ||
| Q2 25 | $0.49 | $-0.03 | ||
| Q1 25 | $2.06 | $0.01 | ||
| Q4 24 | $0.49 | $-0.52 | ||
| Q3 24 | $0.68 | $-2.44 | ||
| Q2 24 | $0.38 | $-0.46 | ||
| Q1 24 | $2.54 | $-0.28 |
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 | — |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $-1.6B | $8.4B |
| Total Assets | $5.0B | $19.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | — | ||
| Q3 25 | $364.0M | — | ||
| Q2 25 | $636.0M | — | ||
| Q1 25 | $674.0M | — | ||
| Q4 24 | $191.0M | $173.0M | ||
| Q3 24 | $514.0M | $409.0M | ||
| Q2 24 | $855.0M | $73.0M | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $-1.6B | — | ||
| Q3 25 | $-1.5B | $8.4B | ||
| Q2 25 | $-1.5B | $8.6B | ||
| Q1 25 | $-1.4B | $8.6B | ||
| Q4 24 | $-1.7B | $8.6B | ||
| Q3 24 | $-1.7B | $9.0B | ||
| Q2 24 | $-1.7B | $4.9B | ||
| Q1 24 | $-1.6B | $5.6B |
| Q4 25 | $5.0B | — | ||
| Q3 25 | $4.8B | $19.2B | ||
| Q2 25 | $4.9B | $19.4B | ||
| Q1 25 | $4.9B | $18.8B | ||
| Q4 24 | $5.0B | $18.7B | ||
| Q3 24 | $4.9B | $19.3B | ||
| Q2 24 | $5.2B | $18.8B | ||
| Q1 24 | $5.5B | — |
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 | $230.0M |
| Free Cash FlowOCF − Capex | $-1.0M | $35.0M |
| FCF MarginFCF / Revenue | -0.1% | 2.5% |
| Capex IntensityCapex / Revenue | 5.1% | 14.2% |
| 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 | — | ||
| Q3 25 | $-43.0M | $230.0M | ||
| Q2 25 | $188.0M | $258.0M | ||
| Q1 25 | $955.0M | $139.0M | ||
| Q4 24 | $-99.0M | — | ||
| Q3 24 | $-46.0M | $186.0M | ||
| Q2 24 | $76.0M | $155.0M | ||
| Q1 24 | $926.0M | $105.0M |
| Q4 25 | $-1.0M | — | ||
| Q3 25 | $-99.0M | $35.0M | ||
| Q2 25 | $151.0M | $95.0M | ||
| Q1 25 | $895.0M | $-12.0M | ||
| Q4 24 | $-164.0M | — | ||
| Q3 24 | $-101.0M | $33.0M | ||
| Q2 24 | $30.0M | $-31.0M | ||
| Q1 24 | $878.0M | $-42.0M |
| Q4 25 | -0.1% | — | ||
| Q3 25 | -6.4% | 2.5% | ||
| Q2 25 | 10.6% | 7.0% | ||
| Q1 25 | 32.1% | -0.9% | ||
| Q4 24 | -10.2% | — | ||
| Q3 24 | -6.6% | 2.5% | ||
| Q2 24 | 2.2% | -2.3% | ||
| Q1 24 | 30.2% | -3.2% |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 3.6% | 14.2% | ||
| Q2 25 | 2.6% | 12.1% | ||
| Q1 25 | 2.2% | 11.7% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 3.6% | 11.5% | ||
| Q2 24 | 3.3% | 13.9% | ||
| Q1 24 | 1.6% | 11.1% |
| Q4 25 | 1.04× | — | ||
| Q3 25 | -0.67× | — | ||
| Q2 25 | 1.79× | — | ||
| Q1 25 | 2.11× | — | ||
| Q4 24 | -0.93× | — | ||
| Q3 24 | -0.30× | — | ||
| Q2 24 | 0.87× | — | ||
| 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% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
