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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Organon & Co. (OGN). 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 $1.5B, roughly 1.9× Organon & Co.). Bausch Health Companies Inc. runs the higher net margin — -3.7% vs -13.6%, a 9.9% gap on every dollar of revenue. On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs -5.3%). Bausch Health Companies Inc. produced more free cash flow last quarter ($403.0M vs $96.0M). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs -3.6%).
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...
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
BHC vs OGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $1.5B |
| Net Profit | $-103.0M | $-205.0M |
| Gross Margin | — | 49.2% |
| Operating Margin | 17.0% | -9.8% |
| Net Margin | -3.7% | -13.6% |
| Revenue YoY | 9.3% | -5.3% |
| Net Profit YoY | -205.1% | -288.1% |
| EPS (diluted) | $-0.30 | $-0.78 |
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 | $1.5B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.6B | $1.6B | ||
| Q3 24 | $2.5B | $1.6B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.2B | $1.6B |
| Q4 25 | $-103.0M | $-205.0M | ||
| Q3 25 | $179.0M | $160.0M | ||
| Q2 25 | $148.0M | $145.0M | ||
| Q1 25 | $-58.0M | $87.0M | ||
| Q4 24 | $98.0M | $109.0M | ||
| Q3 24 | $-85.0M | $359.0M | ||
| Q2 24 | $10.0M | $195.0M | ||
| Q1 24 | $-64.0M | $201.0M |
| Q4 25 | — | 49.2% | ||
| Q3 25 | — | 53.5% | ||
| Q2 25 | — | 54.8% | ||
| Q1 25 | — | 55.6% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 58.3% | ||
| Q2 24 | — | 58.4% | ||
| Q1 24 | — | 59.0% |
| Q4 25 | 17.0% | -9.8% | ||
| Q3 25 | 23.1% | 15.2% | ||
| Q2 25 | 17.5% | 14.4% | ||
| Q1 25 | 12.2% | 6.7% | ||
| Q4 24 | 21.8% | 8.1% | ||
| Q3 24 | 12.7% | 13.1% | ||
| Q2 24 | 16.2% | 14.6% | ||
| Q1 24 | 13.1% | 14.5% |
| Q4 25 | -3.7% | -13.6% | ||
| Q3 25 | 6.7% | 10.0% | ||
| Q2 25 | 5.8% | 9.1% | ||
| Q1 25 | -2.6% | 5.8% | ||
| Q4 24 | 3.8% | 6.8% | ||
| Q3 24 | -3.4% | 22.7% | ||
| Q2 24 | 0.4% | 12.1% | ||
| Q1 24 | -3.0% | 12.4% |
| Q4 25 | $-0.30 | $-0.78 | ||
| Q3 25 | $0.48 | $0.61 | ||
| Q2 25 | $0.40 | $0.56 | ||
| Q1 25 | $-0.16 | $0.33 | ||
| Q4 24 | $0.24 | $0.42 | ||
| Q3 24 | $-0.23 | $1.38 | ||
| Q2 24 | $0.03 | $0.75 | ||
| Q1 24 | $-0.17 | $0.78 |
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 | $574.0M |
| Total DebtLower is stronger | $20.8B | $8.6B |
| Stockholders' EquityBook value | $-554.0M | $752.0M |
| Total Assets | $26.4B | $12.9B |
| Debt / EquityLower = less leverage | — | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $574.0M | ||
| Q3 25 | $1.3B | $672.0M | ||
| Q2 25 | $1.7B | $599.0M | ||
| Q1 25 | $1.1B | $547.0M | ||
| Q4 24 | $1.2B | $675.0M | ||
| Q3 24 | $719.0M | $763.0M | ||
| Q2 24 | $595.0M | $704.0M | ||
| Q1 24 | $733.0M | $575.0M |
| Q4 25 | $20.8B | $8.6B | ||
| Q3 25 | $21.0B | $8.8B | ||
| Q2 25 | $21.7B | $8.9B | ||
| Q1 25 | $21.5B | $9.0B | ||
| Q4 24 | $21.6B | $8.9B | ||
| Q3 24 | $21.5B | $8.7B | ||
| Q2 24 | $21.7B | $8.7B | ||
| Q1 24 | $22.1B | $8.7B |
| Q4 25 | $-554.0M | $752.0M | ||
| Q3 25 | $-565.0M | $906.0M | ||
| Q2 25 | $-764.0M | $733.0M | ||
| Q1 25 | $-1.2B | $542.0M | ||
| Q4 24 | $-1.3B | $472.0M | ||
| Q3 24 | $-1.2B | $493.0M | ||
| Q2 24 | $-1.2B | $144.0M | ||
| Q1 24 | $-1.1B | $48.0M |
| Q4 25 | $26.4B | $12.9B | ||
| Q3 25 | $26.8B | $13.6B | ||
| Q2 25 | $27.3B | $13.5B | ||
| Q1 25 | $26.4B | $13.2B | ||
| Q4 24 | $26.5B | $13.1B | ||
| Q3 24 | $26.5B | $12.8B | ||
| Q2 24 | $26.5B | $12.2B | ||
| Q1 24 | $26.9B | $11.9B |
| Q4 25 | — | 11.49× | ||
| Q3 25 | — | 9.74× | ||
| Q2 25 | — | 12.14× | ||
| Q1 25 | — | 16.52× | ||
| Q4 24 | — | 18.81× | ||
| Q3 24 | — | 17.75× | ||
| Q2 24 | — | 60.11× | ||
| Q1 24 | — | 181.54× |
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 | $141.0M |
| Free Cash FlowOCF − Capex | $403.0M | $96.0M |
| FCF MarginFCF / Revenue | 14.4% | 6.4% |
| Capex IntensityCapex / Revenue | 3.3% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $141.0M | ||
| Q3 25 | $405.0M | $264.0M | ||
| Q2 25 | $289.0M | $220.0M | ||
| Q1 25 | $211.0M | $75.0M | ||
| Q4 24 | $601.0M | $390.0M | ||
| Q3 24 | $405.0M | $141.0M | ||
| Q2 24 | $380.0M | $332.0M | ||
| Q1 24 | $211.0M | $76.0M |
| Q4 25 | $403.0M | $96.0M | ||
| Q3 25 | $314.0M | $218.0M | ||
| Q2 25 | $190.0M | $181.0M | ||
| Q1 25 | $96.0M | $43.0M | ||
| Q4 24 | $495.0M | $335.0M | ||
| Q3 24 | $334.0M | $99.0M | ||
| Q2 24 | $302.0M | $300.0M | ||
| Q1 24 | $129.0M | $30.0M |
| Q4 25 | 14.4% | 6.4% | ||
| Q3 25 | 11.7% | 13.6% | ||
| Q2 25 | 7.5% | 11.4% | ||
| Q1 25 | 4.2% | 2.8% | ||
| Q4 24 | 19.3% | 21.0% | ||
| Q3 24 | 13.3% | 6.3% | ||
| Q2 24 | 12.6% | 18.7% | ||
| Q1 24 | 6.0% | 1.8% |
| Q4 25 | 3.3% | 3.0% | ||
| Q3 25 | 3.4% | 2.9% | ||
| Q2 25 | 3.9% | 2.4% | ||
| Q1 25 | 5.1% | 2.1% | ||
| Q4 24 | 4.1% | 3.5% | ||
| Q3 24 | 2.8% | 2.7% | ||
| Q2 24 | 3.2% | 2.0% | ||
| Q1 24 | 3.8% | 2.8% |
| Q4 25 | — | — | ||
| Q3 25 | 2.26× | 1.65× | ||
| Q2 25 | 1.95× | 1.52× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | 6.13× | 3.58× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | 38.00× | 1.70× | ||
| Q1 24 | — | 0.38× |
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% |
OGN
Segment breakdown not available.
