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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Cushman & Wakefield Ltd. (CWK). Click either name above to swap in a different company.
Cushman & Wakefield Ltd. is the larger business by last-quarter revenue ($2.9B vs $2.8B, roughly 1.0× Bausch Health Companies Inc.). Cushman & Wakefield Ltd. runs the higher net margin — -0.8% vs -3.7%, a 2.9% gap on every dollar of revenue. On growth, Cushman & Wakefield Ltd. posted the faster year-over-year revenue change (10.8% vs 9.3%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $234.3M). Over the past eight quarters, Cushman & Wakefield Ltd.'s revenue compounded faster (15.5% CAGR vs 14.0%).
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...
Cushman & Wakefield Inc. is an American global commercial real estate and property management services firm. The company's corporate headquarters is located in Chicago, Illinois. It is named after co-founders J. Clydesdale Cushman and Bernard Wakefield.
BHC vs CWK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $2.9B |
| Net Profit | $-103.0M | $-22.4M |
| Gross Margin | — | — |
| Operating Margin | 17.0% | 6.1% |
| Net Margin | -3.7% | -0.8% |
| Revenue YoY | 9.3% | 10.8% |
| Net Profit YoY | -205.1% | -119.8% |
| EPS (diluted) | $-0.30 | $-0.10 |
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 | $2.9B | ||
| Q3 25 | $2.7B | $2.6B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.3B | $2.3B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.5B | $2.3B | ||
| Q2 24 | $2.4B | $2.3B | ||
| Q1 24 | $2.2B | $2.2B |
| Q4 25 | $-103.0M | $-22.4M | ||
| Q3 25 | $179.0M | $51.4M | ||
| Q2 25 | $148.0M | $57.3M | ||
| Q1 25 | $-58.0M | $1.9M | ||
| Q4 24 | $98.0M | $112.9M | ||
| Q3 24 | $-85.0M | $33.7M | ||
| Q2 24 | $10.0M | $13.5M | ||
| Q1 24 | $-64.0M | $-28.8M |
| Q4 25 | 17.0% | 6.1% | ||
| Q3 25 | 23.1% | 4.1% | ||
| Q2 25 | 17.5% | 4.9% | ||
| Q1 25 | 12.2% | 2.0% | ||
| Q4 24 | 21.8% | 6.6% | ||
| Q3 24 | 12.7% | 3.2% | ||
| Q2 24 | 16.2% | 3.1% | ||
| Q1 24 | 13.1% | 0.9% |
| Q4 25 | -3.7% | -0.8% | ||
| Q3 25 | 6.7% | 2.0% | ||
| Q2 25 | 5.8% | 2.3% | ||
| Q1 25 | -2.6% | 0.1% | ||
| Q4 24 | 3.8% | 4.3% | ||
| Q3 24 | -3.4% | 1.4% | ||
| Q2 24 | 0.4% | 0.6% | ||
| Q1 24 | -3.0% | -1.3% |
| Q4 25 | $-0.30 | $-0.10 | ||
| Q3 25 | $0.48 | $0.22 | ||
| Q2 25 | $0.40 | $0.25 | ||
| Q1 25 | $-0.16 | $0.01 | ||
| Q4 24 | $0.24 | $0.49 | ||
| Q3 24 | $-0.23 | $0.14 | ||
| Q2 24 | $0.03 | $0.06 | ||
| Q1 24 | $-0.17 | $-0.13 |
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 | $784.2M |
| Total DebtLower is stronger | $20.8B | $2.7B |
| Stockholders' EquityBook value | $-554.0M | $2.0B |
| Total Assets | $26.4B | $7.7B |
| Debt / EquityLower = less leverage | — | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $784.2M | ||
| Q3 25 | $1.3B | $634.4M | ||
| Q2 25 | $1.7B | $618.2M | ||
| Q1 25 | $1.1B | $623.2M | ||
| Q4 24 | $1.2B | $793.3M | ||
| Q3 24 | $719.0M | $775.4M | ||
| Q2 24 | $595.0M | $567.3M | ||
| Q1 24 | $733.0M | $553.5M |
| Q4 25 | $20.8B | $2.7B | ||
| Q3 25 | $21.0B | $2.8B | ||
| Q2 25 | $21.7B | $3.0B | ||
| Q1 25 | $21.5B | $3.0B | ||
| Q4 24 | $21.6B | $3.0B | ||
| Q3 24 | $21.5B | $3.1B | ||
| Q2 24 | $21.7B | $3.1B | ||
| Q1 24 | $22.1B | $3.2B |
| Q4 25 | $-554.0M | $2.0B | ||
| Q3 25 | $-565.0M | $2.0B | ||
| Q2 25 | $-764.0M | $1.9B | ||
| Q1 25 | $-1.2B | $1.8B | ||
| Q4 24 | $-1.3B | $1.8B | ||
| Q3 24 | $-1.2B | $1.7B | ||
| Q2 24 | $-1.2B | $1.6B | ||
| Q1 24 | $-1.1B | $1.6B |
| Q4 25 | $26.4B | $7.7B | ||
| Q3 25 | $26.8B | $7.7B | ||
| Q2 25 | $27.3B | $7.6B | ||
| Q1 25 | $26.4B | $7.4B | ||
| Q4 24 | $26.5B | $7.5B | ||
| Q3 24 | $26.5B | $7.5B | ||
| Q2 24 | $26.5B | $7.3B | ||
| Q1 24 | $26.9B | $7.5B |
| Q4 25 | — | 1.40× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.96× |
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 | $257.3M |
| Free Cash FlowOCF − Capex | $403.0M | $234.3M |
| FCF MarginFCF / Revenue | 14.4% | 8.0% |
| Capex IntensityCapex / Revenue | 3.3% | 0.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $293.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $257.3M | ||
| Q3 25 | $405.0M | $235.5M | ||
| Q2 25 | $289.0M | $9.6M | ||
| Q1 25 | $211.0M | $-162.0M | ||
| Q4 24 | $601.0M | $115.2M | ||
| Q3 24 | $405.0M | $196.1M | ||
| Q2 24 | $380.0M | $21.8M | ||
| Q1 24 | $211.0M | $-125.1M |
| Q4 25 | $403.0M | $234.3M | ||
| Q3 25 | $314.0M | $225.0M | ||
| Q2 25 | $190.0M | $300.0K | ||
| Q1 25 | $96.0M | $-166.6M | ||
| Q4 24 | $495.0M | $105.9M | ||
| Q3 24 | $334.0M | $186.7M | ||
| Q2 24 | $302.0M | $10.0M | ||
| Q1 24 | $129.0M | $-135.6M |
| Q4 25 | 14.4% | 8.0% | ||
| Q3 25 | 11.7% | 8.6% | ||
| Q2 25 | 7.5% | 0.0% | ||
| Q1 25 | 4.2% | -7.3% | ||
| Q4 24 | 19.3% | 4.0% | ||
| Q3 24 | 13.3% | 8.0% | ||
| Q2 24 | 12.6% | 0.4% | ||
| Q1 24 | 6.0% | -6.2% |
| Q4 25 | 3.3% | 0.8% | ||
| Q3 25 | 3.4% | 0.4% | ||
| Q2 25 | 3.9% | 0.4% | ||
| Q1 25 | 5.1% | 0.2% | ||
| Q4 24 | 4.1% | 0.4% | ||
| Q3 24 | 2.8% | 0.4% | ||
| Q2 24 | 3.2% | 0.5% | ||
| Q1 24 | 3.8% | 0.5% |
| Q4 25 | — | — | ||
| Q3 25 | 2.26× | 4.58× | ||
| Q2 25 | 1.95× | 0.17× | ||
| Q1 25 | — | -85.26× | ||
| Q4 24 | 6.13× | 1.02× | ||
| Q3 24 | — | 5.82× | ||
| Q2 24 | 38.00× | 1.61× | ||
| Q1 24 | — | — |
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% |
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
