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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Flutter Entertainment plc (FLUT). Click either name above to swap in a different company.
Flutter Entertainment plc is the larger business by last-quarter revenue ($4.7B vs $2.8B, roughly 1.7× Bausch Health Companies Inc.). Flutter Entertainment plc runs the higher net margin — 0.2% vs -3.7%, a 3.9% gap on every dollar of revenue. On growth, Flutter Entertainment plc posted the faster year-over-year revenue change (24.9% vs 9.3%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $392.0M). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% 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...
Flutter Entertainment plc is an Irish-American multinational sports betting and gambling company. It is listed on the New York Stock Exchange and has a secondary listing on the London Stock Exchange. It owns brands such as Betfair, FanDuel, Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet. Flutter is the world's largest online betting company.
BHC vs FLUT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $4.7B |
| Net Profit | $-103.0M | $10.0M |
| Gross Margin | — | 44.5% |
| Operating Margin | 17.0% | 5.4% |
| Net Margin | -3.7% | 0.2% |
| Revenue YoY | 9.3% | 24.9% |
| Net Profit YoY | -205.1% | -93.6% |
| EPS (diluted) | $-0.30 | $0.00 |
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 | $4.7B | ||
| Q3 25 | $2.7B | $3.8B | ||
| Q2 25 | $2.5B | $4.2B | ||
| Q1 25 | $2.3B | $3.7B | ||
| Q4 24 | $2.6B | $3.8B | ||
| Q3 24 | $2.5B | $3.2B | ||
| Q2 24 | $2.4B | $3.6B | ||
| Q1 24 | $2.2B | $3.4B |
| Q4 25 | $-103.0M | $10.0M | ||
| Q3 25 | $179.0M | $-789.0M | ||
| Q2 25 | $148.0M | $37.0M | ||
| Q1 25 | $-58.0M | $335.0M | ||
| Q4 24 | $98.0M | $156.0M | ||
| Q3 24 | $-85.0M | $-114.0M | ||
| Q2 24 | $10.0M | $297.0M | ||
| Q1 24 | $-64.0M | $-177.0M |
| Q4 25 | — | 44.5% | ||
| Q3 25 | — | 42.9% | ||
| Q2 25 | — | 46.8% | ||
| Q1 25 | — | 46.6% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 46.1% | ||
| Q2 24 | — | 49.2% | ||
| Q1 24 | — | 47.2% |
| Q4 25 | 17.0% | 5.4% | ||
| Q3 25 | 23.1% | -22.0% | ||
| Q2 25 | 17.5% | 9.3% | ||
| Q1 25 | 12.2% | 6.1% | ||
| Q4 24 | 21.8% | 7.4% | ||
| Q3 24 | 12.7% | 3.0% | ||
| Q2 24 | 16.2% | 10.2% | ||
| Q1 24 | 13.1% | 3.7% |
| Q4 25 | -3.7% | 0.2% | ||
| Q3 25 | 6.7% | -20.8% | ||
| Q2 25 | 5.8% | 0.9% | ||
| Q1 25 | -2.6% | 9.1% | ||
| Q4 24 | 3.8% | 4.1% | ||
| Q3 24 | -3.4% | -3.5% | ||
| Q2 24 | 0.4% | 8.2% | ||
| Q1 24 | -3.0% | -5.2% |
| Q4 25 | $-0.30 | $0.00 | ||
| Q3 25 | $0.48 | $-3.91 | ||
| Q2 25 | $0.40 | $0.59 | ||
| Q1 25 | $-0.16 | $1.57 | ||
| Q4 24 | $0.24 | $0.47 | ||
| Q3 24 | $-0.23 | $-0.58 | ||
| Q2 24 | $0.03 | $1.45 | ||
| Q1 24 | $-0.17 | $-1.10 |
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 | $1.8B |
| Total DebtLower is stronger | $20.8B | $12.3B |
| Stockholders' EquityBook value | $-554.0M | $9.0B |
| Total Assets | $26.4B | $29.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $719.0M | $1.5B | ||
| Q2 24 | $595.0M | $1.5B | ||
| Q1 24 | $733.0M | $1.4B |
| Q4 25 | $20.8B | $12.3B | ||
| Q3 25 | $21.0B | $12.1B | ||
| Q2 25 | $21.7B | $10.0B | ||
| Q1 25 | $21.5B | $6.8B | ||
| Q4 24 | $21.6B | $6.7B | ||
| Q3 24 | $21.5B | $6.9B | ||
| Q2 24 | $21.7B | $6.8B | ||
| Q1 24 | $22.1B | $6.8B |
| Q4 25 | $-554.0M | $9.0B | ||
| Q3 25 | $-565.0M | $9.2B | ||
| Q2 25 | $-764.0M | $10.2B | ||
| Q1 25 | $-1.2B | $9.9B | ||
| Q4 24 | $-1.3B | $9.3B | ||
| Q3 24 | $-1.2B | $10.2B | ||
| Q2 24 | $-1.2B | $9.9B | ||
| Q1 24 | $-1.1B | $9.5B |
| Q4 25 | $26.4B | $29.3B | ||
| Q3 25 | $26.8B | $29.3B | ||
| Q2 25 | $27.3B | $29.9B | ||
| Q1 25 | $26.4B | $24.8B | ||
| Q4 24 | $26.5B | $24.5B | ||
| Q3 24 | $26.5B | $25.5B | ||
| Q2 24 | $26.5B | $24.3B | ||
| Q1 24 | $26.9B | $24.4B |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $428.0M |
| Free Cash FlowOCF − Capex | $403.0M | $392.0M |
| FCF MarginFCF / Revenue | 14.4% | 8.3% |
| Capex IntensityCapex / Revenue | 3.3% | 0.8% |
| Cash ConversionOCF / Net Profit | — | 42.80× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $428.0M | ||
| Q3 25 | $405.0M | $209.0M | ||
| Q2 25 | $289.0M | $359.0M | ||
| Q1 25 | $211.0M | $188.0M | ||
| Q4 24 | $601.0M | $652.0M | ||
| Q3 24 | $405.0M | $290.0M | ||
| Q2 24 | $380.0M | $323.0M | ||
| Q1 24 | $211.0M | $337.0M |
| Q4 25 | $403.0M | $392.0M | ||
| Q3 25 | $314.0M | $196.0M | ||
| Q2 25 | $190.0M | $322.0M | ||
| Q1 25 | $96.0M | $169.0M | ||
| Q4 24 | $495.0M | $595.0M | ||
| Q3 24 | $334.0M | $253.0M | ||
| Q2 24 | $302.0M | $295.0M | ||
| Q1 24 | $129.0M | $315.0M |
| Q4 25 | 14.4% | 8.3% | ||
| Q3 25 | 11.7% | 5.2% | ||
| Q2 25 | 7.5% | 7.7% | ||
| Q1 25 | 4.2% | 4.6% | ||
| Q4 24 | 19.3% | 15.7% | ||
| Q3 24 | 13.3% | 7.8% | ||
| Q2 24 | 12.6% | 8.2% | ||
| Q1 24 | 6.0% | 9.3% |
| Q4 25 | 3.3% | 0.8% | ||
| Q3 25 | 3.4% | 0.3% | ||
| Q2 25 | 3.9% | 0.9% | ||
| Q1 25 | 5.1% | 0.5% | ||
| Q4 24 | 4.1% | 1.5% | ||
| Q3 24 | 2.8% | 1.1% | ||
| Q2 24 | 3.2% | 0.8% | ||
| Q1 24 | 3.8% | 0.6% |
| Q4 25 | — | 42.80× | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 1.95× | 9.70× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | 6.13× | 4.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | 38.00× | 1.09× | ||
| 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% |
FLUT
| Other | $2.6B | 55% |
| Sports Book | $1.5B | 32% |
| Igaming | $586.0M | 12% |
| Service Other | $59.0M | 1% |
