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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Tapestry, Inc. (TPR). 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 $2.5B, roughly 1.1× Tapestry, Inc.). Tapestry, Inc. runs the higher net margin — 22.4% vs -3.7%, a 26.1% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs 9.3%). Tapestry, Inc. produced more free cash flow last quarter ($1.0B vs $403.0M). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% 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...
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
BHC vs TPR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $2.5B |
| Net Profit | $-103.0M | $561.3M |
| Gross Margin | — | 75.5% |
| Operating Margin | 17.0% | 28.6% |
| Net Margin | -3.7% | 22.4% |
| Revenue YoY | 9.3% | 14.0% |
| Net Profit YoY | -205.1% | 80.8% |
| EPS (diluted) | $-0.30 | $2.68 |
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 | $2.5B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.5B | $1.7B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.6B | $2.2B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.2B | $1.5B |
| Q4 25 | $-103.0M | $561.3M | ||
| Q3 25 | $179.0M | $274.8M | ||
| Q2 25 | $148.0M | $-517.1M | ||
| Q1 25 | $-58.0M | $203.3M | ||
| Q4 24 | $98.0M | $310.4M | ||
| Q3 24 | $-85.0M | $186.6M | ||
| Q2 24 | $10.0M | $159.3M | ||
| Q1 24 | $-64.0M | $139.4M |
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 74.7% |
| Q4 25 | 17.0% | 28.6% | ||
| Q3 25 | 23.1% | 19.3% | ||
| Q2 25 | 17.5% | -33.9% | ||
| Q1 25 | 12.2% | 16.0% | ||
| Q4 24 | 21.8% | 22.4% | ||
| Q3 24 | 12.7% | 16.7% | ||
| Q2 24 | 16.2% | 14.8% | ||
| Q1 24 | 13.1% | 13.8% |
| Q4 25 | -3.7% | 22.4% | ||
| Q3 25 | 6.7% | 16.1% | ||
| Q2 25 | 5.8% | -30.0% | ||
| Q1 25 | -2.6% | 12.8% | ||
| Q4 24 | 3.8% | 14.1% | ||
| Q3 24 | -3.4% | 12.4% | ||
| Q2 24 | 0.4% | 10.0% | ||
| Q1 24 | -3.0% | 9.4% |
| Q4 25 | $-0.30 | $2.68 | ||
| Q3 25 | $0.48 | $1.28 | ||
| Q2 25 | $0.40 | $-2.30 | ||
| Q1 25 | $-0.16 | $0.95 | ||
| Q4 24 | $0.24 | $1.38 | ||
| Q3 24 | $-0.23 | $0.79 | ||
| Q2 24 | $0.03 | $0.67 | ||
| Q1 24 | $-0.17 | $0.60 |
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 | $1.1B |
| Total DebtLower is stronger | $20.8B | $2.4B |
| Stockholders' EquityBook value | $-554.0M | $551.2M |
| Total Assets | $26.4B | $6.5B |
| Debt / EquityLower = less leverage | — | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.3B | $743.2M | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $719.0M | $7.3B | ||
| Q2 24 | $595.0M | $7.2B | ||
| Q1 24 | $733.0M | $7.4B |
| Q4 25 | $20.8B | $2.4B | ||
| Q3 25 | $21.0B | $2.4B | ||
| Q2 25 | $21.7B | $2.4B | ||
| Q1 25 | $21.5B | $2.4B | ||
| Q4 24 | $21.6B | $2.4B | ||
| Q3 24 | $21.5B | $7.0B | ||
| Q2 24 | $21.7B | $6.9B | ||
| Q1 24 | $22.1B | $7.7B |
| Q4 25 | $-554.0M | $551.2M | ||
| Q3 25 | $-565.0M | $399.5M | ||
| Q2 25 | $-764.0M | $857.8M | ||
| Q1 25 | $-1.2B | $1.5B | ||
| Q4 24 | $-1.3B | $1.3B | ||
| Q3 24 | $-1.2B | $3.0B | ||
| Q2 24 | $-1.2B | $2.9B | ||
| Q1 24 | $-1.1B | $2.8B |
| Q4 25 | $26.4B | $6.5B | ||
| Q3 25 | $26.8B | $6.4B | ||
| Q2 25 | $27.3B | $6.6B | ||
| Q1 25 | $26.4B | $7.3B | ||
| Q4 24 | $26.5B | $7.3B | ||
| Q3 24 | $26.5B | $13.7B | ||
| Q2 24 | $26.5B | $13.4B | ||
| Q1 24 | $26.9B | $13.7B |
| Q4 25 | — | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $403.0M | $1.0B |
| FCF MarginFCF / Revenue | 14.4% | 41.5% |
| Capex IntensityCapex / Revenue | 3.3% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | $1.1B | ||
| Q3 25 | $405.0M | $112.6M | ||
| Q2 25 | $289.0M | $446.8M | ||
| Q1 25 | $211.0M | $144.3M | ||
| Q4 24 | $601.0M | $506.0M | ||
| Q3 24 | $405.0M | $119.5M | ||
| Q2 24 | $380.0M | $256.0M | ||
| Q1 24 | $211.0M | $97.8M |
| Q4 25 | $403.0M | $1.0B | ||
| Q3 25 | $314.0M | $80.2M | ||
| Q2 25 | $190.0M | $411.5M | ||
| Q1 25 | $96.0M | $113.4M | ||
| Q4 24 | $495.0M | $475.1M | ||
| Q3 24 | $334.0M | $93.9M | ||
| Q2 24 | $302.0M | $209.8M | ||
| Q1 24 | $129.0M | $78.8M |
| Q4 25 | 14.4% | 41.5% | ||
| Q3 25 | 11.7% | 4.7% | ||
| Q2 25 | 7.5% | 23.9% | ||
| Q1 25 | 4.2% | 7.2% | ||
| Q4 24 | 19.3% | 21.6% | ||
| Q3 24 | 13.3% | 6.2% | ||
| Q2 24 | 12.6% | 13.2% | ||
| Q1 24 | 6.0% | 5.3% |
| Q4 25 | 3.3% | 1.7% | ||
| Q3 25 | 3.4% | 1.9% | ||
| Q2 25 | 3.9% | 2.0% | ||
| Q1 25 | 5.1% | 2.0% | ||
| Q4 24 | 4.1% | 1.4% | ||
| Q3 24 | 2.8% | 1.7% | ||
| Q2 24 | 3.2% | 2.9% | ||
| Q1 24 | 3.8% | 1.3% |
| Q4 25 | — | 1.93× | ||
| Q3 25 | 2.26× | 0.41× | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 6.13× | 1.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 38.00× | 1.61× | ||
| Q1 24 | — | 0.70× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
