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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and CDW Corporation (CDW). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $2.8B, roughly 2.0× Bausch Health Companies Inc.). On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs 6.3%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $395.9M). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs 6.3%).
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...
CDW Corporation is an American multi-brand provider of information technology services, serving business, government, education, and healthcare sectors across the United States, the United Kingdom, and Canada. Headquartered in Vernon Hills, Illinois, CDW is a Fortune 500 and generated $21 billion in annual net sales in 2023.
BHC vs CDW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $5.5B |
| Net Profit | $-103.0M | — |
| Gross Margin | — | 22.8% |
| Operating Margin | 17.0% | 7.8% |
| Net Margin | -3.7% | — |
| Revenue YoY | 9.3% | 6.3% |
| Net Profit YoY | -205.1% | — |
| EPS (diluted) | $-0.30 | $2.13 |
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 | $2.8B | $5.5B | ||
| Q3 25 | $2.7B | $5.7B | ||
| Q2 25 | $2.5B | $6.0B | ||
| Q1 25 | $2.3B | $5.2B | ||
| Q4 24 | $2.6B | $5.2B | ||
| Q3 24 | $2.5B | $5.5B | ||
| Q2 24 | $2.4B | $5.4B | ||
| Q1 24 | $2.2B | $4.9B |
| Q4 25 | $-103.0M | — | ||
| Q3 25 | $179.0M | $291.0M | ||
| Q2 25 | $148.0M | $271.2M | ||
| Q1 25 | $-58.0M | $224.9M | ||
| Q4 24 | $98.0M | — | ||
| Q3 24 | $-85.0M | $316.4M | ||
| Q2 24 | $10.0M | $281.1M | ||
| Q1 24 | $-64.0M | $216.1M |
| Q4 25 | — | 22.8% | ||
| Q3 25 | — | 21.9% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 21.8% |
| Q4 25 | 17.0% | 7.8% | ||
| Q3 25 | 23.1% | 7.7% | ||
| Q2 25 | 17.5% | 7.0% | ||
| Q1 25 | 12.2% | 7.0% | ||
| Q4 24 | 21.8% | 7.9% | ||
| Q3 24 | 12.7% | 8.7% | ||
| Q2 24 | 16.2% | 8.0% | ||
| Q1 24 | 13.1% | 6.7% |
| Q4 25 | -3.7% | — | ||
| Q3 25 | 6.7% | 5.1% | ||
| Q2 25 | 5.8% | 4.5% | ||
| Q1 25 | -2.6% | 4.3% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -3.4% | 5.7% | ||
| Q2 24 | 0.4% | 5.2% | ||
| Q1 24 | -3.0% | 4.4% |
| Q4 25 | $-0.30 | $2.13 | ||
| Q3 25 | $0.48 | $2.21 | ||
| Q2 25 | $0.40 | $2.05 | ||
| Q1 25 | $-0.16 | $1.69 | ||
| Q4 24 | $0.24 | $1.97 | ||
| Q3 24 | $-0.23 | $2.34 | ||
| Q2 24 | $0.03 | $2.07 | ||
| Q1 24 | $-0.17 | $1.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $618.7M |
| Total DebtLower is stronger | $20.8B | — |
| Stockholders' EquityBook value | $-554.0M | $2.6B |
| Total Assets | $26.4B | $16.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $618.7M | ||
| Q3 25 | $1.3B | $452.9M | ||
| Q2 25 | $1.7B | $481.0M | ||
| Q1 25 | $1.1B | $688.1M | ||
| Q4 24 | $1.2B | $717.7M | ||
| Q3 24 | $719.0M | $1.2B | ||
| Q2 24 | $595.0M | $665.3M | ||
| Q1 24 | $733.0M | $803.8M |
| Q4 25 | $20.8B | — | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | — | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — | ||
| Q1 24 | $22.1B | — |
| Q4 25 | $-554.0M | $2.6B | ||
| Q3 25 | $-565.0M | $2.5B | ||
| Q2 25 | $-764.0M | $2.5B | ||
| Q1 25 | $-1.2B | $2.3B | ||
| Q4 24 | $-1.3B | $2.4B | ||
| Q3 24 | $-1.2B | $2.3B | ||
| Q2 24 | $-1.2B | $2.2B | ||
| Q1 24 | $-1.1B | $2.1B |
| Q4 25 | $26.4B | $16.0B | ||
| Q3 25 | $26.8B | $15.2B | ||
| Q2 25 | $27.3B | $15.3B | ||
| Q1 25 | $26.4B | $15.0B | ||
| Q4 24 | $26.5B | $14.7B | ||
| Q3 24 | $26.5B | $14.4B | ||
| Q2 24 | $26.5B | $13.6B | ||
| Q1 24 | $26.9B | $13.2B |
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 | $433.8M |
| Free Cash FlowOCF − Capex | $403.0M | $395.9M |
| FCF MarginFCF / Revenue | 14.4% | 7.2% |
| Capex IntensityCapex / Revenue | 3.3% | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $433.8M | ||
| Q3 25 | $405.0M | $328.3M | ||
| Q2 25 | $289.0M | $155.9M | ||
| Q1 25 | $211.0M | $287.2M | ||
| Q4 24 | $601.0M | $345.3M | ||
| Q3 24 | $405.0M | $342.1M | ||
| Q2 24 | $380.0M | $149.9M | ||
| Q1 24 | $211.0M | $440.0M |
| Q4 25 | $403.0M | $395.9M | ||
| Q3 25 | $314.0M | $298.5M | ||
| Q2 25 | $190.0M | $133.4M | ||
| Q1 25 | $96.0M | $260.3M | ||
| Q4 24 | $495.0M | $316.7M | ||
| Q3 24 | $334.0M | $308.5M | ||
| Q2 24 | $302.0M | $119.0M | ||
| Q1 24 | $129.0M | $410.5M |
| Q4 25 | 14.4% | 7.2% | ||
| Q3 25 | 11.7% | 5.2% | ||
| Q2 25 | 7.5% | 2.2% | ||
| Q1 25 | 4.2% | 5.0% | ||
| Q4 24 | 19.3% | 6.1% | ||
| Q3 24 | 13.3% | 5.6% | ||
| Q2 24 | 12.6% | 2.2% | ||
| Q1 24 | 6.0% | 8.4% |
| Q4 25 | 3.3% | 0.7% | ||
| Q3 25 | 3.4% | 0.5% | ||
| Q2 25 | 3.9% | 0.4% | ||
| Q1 25 | 5.1% | 0.5% | ||
| Q4 24 | 4.1% | 0.6% | ||
| Q3 24 | 2.8% | 0.6% | ||
| Q2 24 | 3.2% | 0.6% | ||
| Q1 24 | 3.8% | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | 2.26× | 1.13× | ||
| Q2 25 | 1.95× | 0.57× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | 1.08× | ||
| Q2 24 | 38.00× | 0.53× | ||
| Q1 24 | — | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
CDW
Segment breakdown not available.
