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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Jazz Pharmaceuticals plc (JAZZ). 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 $1.2B, roughly 2.3× Jazz Pharmaceuticals plc). Jazz Pharmaceuticals plc runs the higher net margin — 17.0% vs -3.7%, a 20.7% gap on every dollar of revenue. On growth, Jazz Pharmaceuticals plc posted the faster year-over-year revenue change (10.1% vs 9.3%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $345.8M). Over the past eight quarters, Jazz Pharmaceuticals plc's revenue compounded faster (15.2% 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...
Jazz Pharmaceuticals plc is a global biopharmaceutical company with a focus on oncology and neuroscience. It was founded in 2003 in California, United States and is now headquartered in Dublin, Ireland.
BHC vs JAZZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $1.2B |
| Net Profit | $-103.0M | $203.5M |
| Gross Margin | — | — |
| Operating Margin | 17.0% | 21.2% |
| Net Margin | -3.7% | 17.0% |
| Revenue YoY | 9.3% | 10.1% |
| Net Profit YoY | -205.1% | 6.5% |
| EPS (diluted) | $-0.30 | $3.34 |
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 | $1.2B | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $2.5B | $1.0B | ||
| Q1 25 | $2.3B | $897.8M | ||
| Q4 24 | $2.6B | $1.1B | ||
| Q3 24 | $2.5B | $1.1B | ||
| Q2 24 | $2.4B | $1.0B | ||
| Q1 24 | $2.2B | $902.0M |
| Q4 25 | $-103.0M | $203.5M | ||
| Q3 25 | $179.0M | $251.4M | ||
| Q2 25 | $148.0M | $-718.5M | ||
| Q1 25 | $-58.0M | $-92.5M | ||
| Q4 24 | $98.0M | $191.1M | ||
| Q3 24 | $-85.0M | $215.1M | ||
| Q2 24 | $10.0M | $168.6M | ||
| Q1 24 | $-64.0M | $-14.6M |
| Q4 25 | 17.0% | 21.2% | ||
| Q3 25 | 23.1% | 5.1% | ||
| Q2 25 | 17.5% | -65.6% | ||
| Q1 25 | 12.2% | -6.2% | ||
| Q4 24 | 21.8% | 17.5% | ||
| Q3 24 | 12.7% | 24.7% | ||
| Q2 24 | 16.2% | 19.5% | ||
| Q1 24 | 13.1% | 7.3% |
| Q4 25 | -3.7% | 17.0% | ||
| Q3 25 | 6.7% | 22.3% | ||
| Q2 25 | 5.8% | -68.7% | ||
| Q1 25 | -2.6% | -10.3% | ||
| Q4 24 | 3.8% | 17.6% | ||
| Q3 24 | -3.4% | 20.4% | ||
| Q2 24 | 0.4% | 16.5% | ||
| Q1 24 | -3.0% | -1.6% |
| Q4 25 | $-0.30 | $3.34 | ||
| Q3 25 | $0.48 | $4.08 | ||
| Q2 25 | $0.40 | $-11.74 | ||
| Q1 25 | $-0.16 | $-1.52 | ||
| Q4 24 | $0.24 | $2.97 | ||
| Q3 24 | $-0.23 | $3.42 | ||
| Q2 24 | $0.03 | $2.49 | ||
| Q1 24 | $-0.17 | $-0.23 |
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 | $1.4B |
| Total DebtLower is stronger | $20.8B | $5.4B |
| Stockholders' EquityBook value | $-554.0M | $4.3B |
| Total Assets | $26.4B | $11.7B |
| Debt / EquityLower = less leverage | — | 1.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $719.0M | $2.2B | ||
| Q2 24 | $595.0M | $1.4B | ||
| Q1 24 | $733.0M | $1.4B |
| Q4 25 | $20.8B | $5.4B | ||
| Q3 25 | $21.0B | $5.4B | ||
| Q2 25 | $21.7B | $5.4B | ||
| Q1 25 | $21.5B | $5.4B | ||
| Q4 24 | $21.6B | $6.1B | ||
| Q3 24 | $21.5B | $6.1B | ||
| Q2 24 | $21.7B | $5.7B | ||
| Q1 24 | $22.1B | $5.7B |
| Q4 25 | $-554.0M | $4.3B | ||
| Q3 25 | $-565.0M | $4.0B | ||
| Q2 25 | $-764.0M | $3.7B | ||
| Q1 25 | $-1.2B | $4.2B | ||
| Q4 24 | $-1.3B | $4.1B | ||
| Q3 24 | $-1.2B | $4.2B | ||
| Q2 24 | $-1.2B | $3.8B | ||
| Q1 24 | $-1.1B | $3.7B |
| Q4 25 | $26.4B | $11.7B | ||
| Q3 25 | $26.8B | $11.4B | ||
| Q2 25 | $27.3B | $10.9B | ||
| Q1 25 | $26.4B | $11.5B | ||
| Q4 24 | $26.5B | $12.0B | ||
| Q3 24 | $26.5B | $12.3B | ||
| Q2 24 | $26.5B | $11.4B | ||
| Q1 24 | $26.9B | $11.3B |
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.45× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | 1.47× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 1.54× |
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 | $362.5M |
| Free Cash FlowOCF − Capex | $403.0M | $345.8M |
| FCF MarginFCF / Revenue | 14.4% | 28.9% |
| Capex IntensityCapex / Revenue | 3.3% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $362.5M | ||
| Q3 25 | $405.0M | $474.6M | ||
| Q2 25 | $289.0M | $88.9M | ||
| Q1 25 | $211.0M | $429.8M | ||
| Q4 24 | $601.0M | $398.6M | ||
| Q3 24 | $405.0M | $398.7M | ||
| Q2 24 | $380.0M | $331.4M | ||
| Q1 24 | $211.0M | $267.2M |
| Q4 25 | $403.0M | $345.8M | ||
| Q3 25 | $314.0M | $459.4M | ||
| Q2 25 | $190.0M | $75.9M | ||
| Q1 25 | $96.0M | $415.9M | ||
| Q4 24 | $495.0M | $385.3M | ||
| Q3 24 | $334.0M | $388.0M | ||
| Q2 24 | $302.0M | $324.3M | ||
| Q1 24 | $129.0M | $260.3M |
| Q4 25 | 14.4% | 28.9% | ||
| Q3 25 | 11.7% | 40.8% | ||
| Q2 25 | 7.5% | 7.3% | ||
| Q1 25 | 4.2% | 46.3% | ||
| Q4 24 | 19.3% | 35.4% | ||
| Q3 24 | 13.3% | 36.8% | ||
| Q2 24 | 12.6% | 31.7% | ||
| Q1 24 | 6.0% | 28.9% |
| Q4 25 | 3.3% | 1.4% | ||
| Q3 25 | 3.4% | 1.3% | ||
| Q2 25 | 3.9% | 1.2% | ||
| Q1 25 | 5.1% | 1.5% | ||
| Q4 24 | 4.1% | 1.2% | ||
| Q3 24 | 2.8% | 1.0% | ||
| Q2 24 | 3.2% | 0.7% | ||
| Q1 24 | 3.8% | 0.8% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | 2.26× | 1.89× | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.13× | 2.09× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | 38.00× | 1.97× | ||
| 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% |
JAZZ
| Xywav | $465.5M | 39% |
| Total Oncology | $337.8M | 28% |
| Rylaze Enrylaze | $108.2M | 9% |
| Zepzelca | $90.4M | 8% |
| Product And Services Royalties And Contract Revenue | $65.5M | 5% |
| High Sodium AG Oxybate Product Royalty Revenue | $55.7M | 5% |
| Xyrem | $37.8M | 3% |
| Vyxeos | $34.7M | 3% |
| Ziihera | $8.5M | 1% |
| Other Products | $2.8M | 0% |
| Sativex | $1.5M | 0% |
