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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and KeyCorp (KEY). 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 $2.0B, roughly 1.4× KeyCorp). KeyCorp runs the higher net margin — 25.4% vs -3.7%, a 29.1% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 9.3%). KeyCorp produced more free cash flow last quarter ($2.1B vs $403.0M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% 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...
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
BHC vs KEY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $2.0B |
| Net Profit | $-103.0M | $510.0M |
| Gross Margin | — | — |
| Operating Margin | 17.0% | 32.3% |
| Net Margin | -3.7% | 25.4% |
| Revenue YoY | 9.3% | 131.8% |
| Net Profit YoY | -205.1% | 309.0% |
| EPS (diluted) | $-0.30 | $0.43 |
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 | $2.0B | ||
| Q3 25 | $2.7B | $1.9B | ||
| Q2 25 | $2.5B | $1.8B | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $2.6B | $865.0M | ||
| Q3 24 | $2.5B | $695.0M | ||
| Q2 24 | $2.4B | $1.5B | ||
| Q1 24 | $2.2B | $1.5B |
| Q4 25 | $-103.0M | $510.0M | ||
| Q3 25 | $179.0M | $489.0M | ||
| Q2 25 | $148.0M | $425.0M | ||
| Q1 25 | $-58.0M | $405.0M | ||
| Q4 24 | $98.0M | $-244.0M | ||
| Q3 24 | $-85.0M | $-410.0M | ||
| Q2 24 | $10.0M | $274.0M | ||
| Q1 24 | $-64.0M | $219.0M |
| Q4 25 | 17.0% | 32.3% | ||
| Q3 25 | 23.1% | 31.8% | ||
| Q2 25 | 17.5% | 29.3% | ||
| Q1 25 | 12.2% | 29.0% | ||
| Q4 24 | 21.8% | -92.6% | ||
| Q3 24 | 12.7% | -72.8% | ||
| Q2 24 | 16.2% | 22.0% | ||
| Q1 24 | 13.1% | 18.1% |
| Q4 25 | -3.7% | 25.4% | ||
| Q3 25 | 6.7% | 25.8% | ||
| Q2 25 | 5.8% | 23.1% | ||
| Q1 25 | -2.6% | 22.8% | ||
| Q4 24 | 3.8% | -54.7% | ||
| Q3 24 | -3.4% | -59.0% | ||
| Q2 24 | 0.4% | 18.0% | ||
| Q1 24 | -3.0% | 14.3% |
| Q4 25 | $-0.30 | $0.43 | ||
| Q3 25 | $0.48 | $0.41 | ||
| Q2 25 | $0.40 | $0.35 | ||
| Q1 25 | $-0.16 | $0.33 | ||
| Q4 24 | $0.24 | $-0.30 | ||
| Q3 24 | $-0.23 | $-0.47 | ||
| Q2 24 | $0.03 | $0.25 | ||
| Q1 24 | $-0.17 | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | $20.8B | $9.9B |
| Stockholders' EquityBook value | $-554.0M | $20.4B |
| Total Assets | $26.4B | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $10.2B | ||
| Q3 25 | $1.3B | $13.3B | ||
| Q2 25 | $1.7B | $11.6B | ||
| Q1 25 | $1.1B | $15.3B | ||
| Q4 24 | $1.2B | $17.5B | ||
| Q3 24 | $719.0M | $22.8B | ||
| Q2 24 | $595.0M | $15.5B | ||
| Q1 24 | $733.0M | $13.2B |
| Q4 25 | $20.8B | $9.9B | ||
| Q3 25 | $21.0B | $10.9B | ||
| Q2 25 | $21.7B | $12.1B | ||
| Q1 25 | $21.5B | $12.4B | ||
| Q4 24 | $21.6B | $12.1B | ||
| Q3 24 | $21.5B | $15.7B | ||
| Q2 24 | $21.7B | $16.9B | ||
| Q1 24 | $22.1B | $20.8B |
| Q4 25 | $-554.0M | $20.4B | ||
| Q3 25 | $-565.0M | $20.1B | ||
| Q2 25 | $-764.0M | $19.5B | ||
| Q1 25 | $-1.2B | $19.0B | ||
| Q4 24 | $-1.3B | $18.2B | ||
| Q3 24 | $-1.2B | $16.9B | ||
| Q2 24 | $-1.2B | $14.8B | ||
| Q1 24 | $-1.1B | $14.5B |
| Q4 25 | $26.4B | $184.4B | ||
| Q3 25 | $26.8B | $187.4B | ||
| Q2 25 | $27.3B | $185.5B | ||
| Q1 25 | $26.4B | $188.7B | ||
| Q4 24 | $26.5B | $187.2B | ||
| Q3 24 | $26.5B | $189.8B | ||
| Q2 24 | $26.5B | $187.4B | ||
| Q1 24 | $26.9B | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | $403.0M | $2.1B |
| FCF MarginFCF / Revenue | 14.4% | 104.8% |
| Capex IntensityCapex / Revenue | 3.3% | 5.3% |
| Cash ConversionOCF / Net Profit | — | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $2.2B | ||
| Q3 25 | $405.0M | $396.0M | ||
| Q2 25 | $289.0M | $1.2B | ||
| Q1 25 | $211.0M | $-140.0M | ||
| Q4 24 | $601.0M | $664.0M | ||
| Q3 24 | $405.0M | $-1.2B | ||
| Q2 24 | $380.0M | $-217.0M | ||
| Q1 24 | $211.0M | $359.0M |
| Q4 25 | $403.0M | $2.1B | ||
| Q3 25 | $314.0M | $367.0M | ||
| Q2 25 | $190.0M | $1.2B | ||
| Q1 25 | $96.0M | $-150.0M | ||
| Q4 24 | $495.0M | $599.0M | ||
| Q3 24 | $334.0M | $-1.2B | ||
| Q2 24 | $302.0M | $-230.0M | ||
| Q1 24 | $129.0M | $347.0M |
| Q4 25 | 14.4% | 104.8% | ||
| Q3 25 | 11.7% | 19.4% | ||
| Q2 25 | 7.5% | 65.8% | ||
| Q1 25 | 4.2% | -8.5% | ||
| Q4 24 | 19.3% | 69.2% | ||
| Q3 24 | 13.3% | -175.8% | ||
| Q2 24 | 12.6% | -15.1% | ||
| Q1 24 | 6.0% | 22.6% |
| Q4 25 | 3.3% | 5.3% | ||
| Q3 25 | 3.4% | 1.5% | ||
| Q2 25 | 3.9% | 1.3% | ||
| Q1 25 | 5.1% | 0.6% | ||
| Q4 24 | 4.1% | 7.5% | ||
| Q3 24 | 2.8% | 2.4% | ||
| Q2 24 | 3.2% | 0.9% | ||
| Q1 24 | 3.8% | 0.8% |
| Q4 25 | — | 4.33× | ||
| Q3 25 | 2.26× | 0.81× | ||
| Q2 25 | 1.95× | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 38.00× | -0.79× | ||
| Q1 24 | — | 1.64× |
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% |
KEY
Segment breakdown not available.
