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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and GRAPHIC PACKAGING HOLDING CO (GPK). Click either name above to swap in a different company.
Bausch Health Companies Inc. is the larger business by last-quarter revenue ($2.8B vs $2.1B, roughly 1.3× GRAPHIC PACKAGING HOLDING CO). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs -3.7%, a 7.1% gap on every dollar of revenue. On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs 0.2%). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs -3.5%).
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...
Graphic Packaging International is a Fortune 500 corporation based in Atlanta, Georgia, United States. It designs and manufactures packaging solutions for commercial products. GPI manufactures paperboard and folding cartons for a wide range of popular consumer goods, particularly beverages and packaged food. The company operates paperboard mills in Kalamazoo, Michigan; Macon, Georgia; Middletown, Ohio; Prosperity, South Carolina; Texarkana, Texas; and West Monroe, Louisiana, that use recycled...
BHC vs GPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $2.1B |
| Net Profit | $-103.0M | $71.0M |
| Gross Margin | — | 14.1% |
| Operating Margin | 17.0% | 7.4% |
| Net Margin | -3.7% | 3.4% |
| Revenue YoY | 9.3% | 0.2% |
| Net Profit YoY | -205.1% | -48.6% |
| EPS (diluted) | $-0.30 | $0.24 |
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 | $2.1B | ||
| Q3 25 | $2.7B | $2.2B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.3B | $2.1B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.4B | $2.2B | ||
| Q1 24 | $2.2B | $2.3B |
| Q4 25 | $-103.0M | $71.0M | ||
| Q3 25 | $179.0M | $142.0M | ||
| Q2 25 | $148.0M | $104.0M | ||
| Q1 25 | $-58.0M | $127.0M | ||
| Q4 24 | $98.0M | $138.0M | ||
| Q3 24 | $-85.0M | $165.0M | ||
| Q2 24 | $10.0M | $190.0M | ||
| Q1 24 | $-64.0M | $165.0M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.2% | ||
| Q1 24 | — | 23.0% |
| Q4 25 | 17.0% | 7.4% | ||
| Q3 25 | 23.1% | 10.7% | ||
| Q2 25 | 17.5% | 8.8% | ||
| Q1 25 | 12.2% | 10.5% | ||
| Q4 24 | 21.8% | 11.4% | ||
| Q3 24 | 12.7% | 12.6% | ||
| Q2 24 | 16.2% | 14.5% | ||
| Q1 24 | 13.1% | 12.4% |
| Q4 25 | -3.7% | 3.4% | ||
| Q3 25 | 6.7% | 6.5% | ||
| Q2 25 | 5.8% | 4.7% | ||
| Q1 25 | -2.6% | 6.0% | ||
| Q4 24 | 3.8% | 6.6% | ||
| Q3 24 | -3.4% | 7.5% | ||
| Q2 24 | 0.4% | 8.5% | ||
| Q1 24 | -3.0% | 7.3% |
| Q4 25 | $-0.30 | $0.24 | ||
| Q3 25 | $0.48 | $0.48 | ||
| Q2 25 | $0.40 | $0.34 | ||
| Q1 25 | $-0.16 | $0.42 | ||
| Q4 24 | $0.24 | $0.46 | ||
| Q3 24 | $-0.23 | $0.55 | ||
| Q2 24 | $0.03 | $0.62 | ||
| Q1 24 | $-0.17 | $0.53 |
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 | $261.0M |
| Total DebtLower is stronger | $20.8B | $5.0B |
| Stockholders' EquityBook value | $-554.0M | $3.3B |
| Total Assets | $26.4B | $11.8B |
| Debt / EquityLower = less leverage | — | 1.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $261.0M | ||
| Q3 25 | $1.3B | $120.0M | ||
| Q2 25 | $1.7B | $120.0M | ||
| Q1 25 | $1.1B | $129.0M | ||
| Q4 24 | $1.2B | $157.0M | ||
| Q3 24 | $719.0M | $126.0M | ||
| Q2 24 | $595.0M | $125.0M | ||
| Q1 24 | $733.0M | $136.0M |
| Q4 25 | $20.8B | $5.0B | ||
| Q3 25 | $21.0B | $5.5B | ||
| Q2 25 | $21.7B | $5.4B | ||
| Q1 25 | $21.5B | $5.7B | ||
| Q4 24 | $21.6B | $5.1B | ||
| Q3 24 | $21.5B | $5.4B | ||
| Q2 24 | $21.7B | $4.9B | ||
| Q1 24 | $22.1B | $4.9B |
| Q4 25 | $-554.0M | $3.3B | ||
| Q3 25 | $-565.0M | $3.3B | ||
| Q2 25 | $-764.0M | $3.2B | ||
| Q1 25 | $-1.2B | $3.2B | ||
| Q4 24 | $-1.3B | $3.0B | ||
| Q3 24 | $-1.2B | $3.0B | ||
| Q2 24 | $-1.2B | $2.8B | ||
| Q1 24 | $-1.1B | $2.9B |
| Q4 25 | $26.4B | $11.8B | ||
| Q3 25 | $26.8B | $11.9B | ||
| Q2 25 | $27.3B | $11.8B | ||
| Q1 25 | $26.4B | $11.5B | ||
| Q4 24 | $26.5B | $11.1B | ||
| Q3 24 | $26.5B | $11.2B | ||
| Q2 24 | $26.5B | $10.8B | ||
| Q1 24 | $26.9B | $11.3B |
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 1.67× | ||
| Q2 25 | — | 1.68× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 1.71× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.73× |
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 | $521.0M |
| Free Cash FlowOCF − Capex | $403.0M | — |
| FCF MarginFCF / Revenue | 14.4% | — |
| Capex IntensityCapex / Revenue | 3.3% | — |
| Cash ConversionOCF / Net Profit | — | 7.34× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $521.0M | ||
| Q3 25 | $405.0M | $227.0M | ||
| Q2 25 | $289.0M | $267.0M | ||
| Q1 25 | $211.0M | $-174.0M | ||
| Q4 24 | $601.0M | $489.0M | ||
| Q3 24 | $405.0M | $187.0M | ||
| Q2 24 | $380.0M | $161.0M | ||
| Q1 24 | $211.0M | $3.0M |
| Q4 25 | $403.0M | — | ||
| Q3 25 | $314.0M | — | ||
| Q2 25 | $190.0M | — | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $495.0M | — | ||
| Q3 24 | $334.0M | — | ||
| Q2 24 | $302.0M | — | ||
| Q1 24 | $129.0M | — |
| Q4 25 | 14.4% | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 7.5% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 6.0% | — |
| Q4 25 | 3.3% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.8% | — |
| Q4 25 | — | 7.34× | ||
| Q3 25 | 2.26× | 1.60× | ||
| Q2 25 | 1.95× | 2.57× | ||
| Q1 25 | — | -1.37× | ||
| Q4 24 | 6.13× | 3.54× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | 38.00× | 0.85× | ||
| Q1 24 | — | 0.02× |
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% |
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
