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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and Viking Holdings Ltd (VIK). Click either name above to swap in a different company.
Viking Holdings Ltd is the larger business by last-quarter revenue ($4.0B vs $2.8B, roughly 1.4× Bausch Health Companies Inc.). Viking Holdings Ltd runs the higher net margin — 12.9% vs -3.7%, a 16.6% gap on every dollar of revenue.
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...
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
BHC vs VIK — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $4.0B |
| Net Profit | $-103.0M | $514.0M |
| Gross Margin | — | 73.4% |
| Operating Margin | 17.0% | 15.2% |
| Net Margin | -3.7% | 12.9% |
| Revenue YoY | 9.3% | — |
| Net Profit YoY | -205.1% | 35.4% |
| EPS (diluted) | $-0.30 | $1.15 |
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 | — | ||
| Q3 25 | $2.7B | $4.0B | ||
| Q2 25 | $2.5B | $2.3B | ||
| Q1 25 | $2.3B | $718.2M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.5B | $3.6B | ||
| Q2 24 | $2.4B | $2.1B | ||
| Q1 24 | $2.2B | — |
| Q4 25 | $-103.0M | — | ||
| Q3 25 | $179.0M | $514.0M | ||
| Q2 25 | $148.0M | $439.2M | ||
| Q1 25 | $-58.0M | $-105.5M | ||
| Q4 24 | $98.0M | — | ||
| Q3 24 | $-85.0M | $379.7M | ||
| Q2 24 | $10.0M | $159.8M | ||
| Q1 24 | $-64.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 73.4% | ||
| Q2 25 | — | 55.7% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.7% | ||
| Q2 24 | — | 57.8% | ||
| Q1 24 | — | — |
| Q4 25 | 17.0% | — | ||
| Q3 25 | 23.1% | 15.2% | ||
| Q2 25 | 17.5% | 23.7% | ||
| Q1 25 | 12.2% | -1.3% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 12.7% | 13.6% | ||
| Q2 24 | 16.2% | 20.5% | ||
| Q1 24 | 13.1% | — |
| Q4 25 | -3.7% | — | ||
| Q3 25 | 6.7% | 12.9% | ||
| Q2 25 | 5.8% | 19.1% | ||
| Q1 25 | -2.6% | -14.7% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -3.4% | 10.6% | ||
| Q2 24 | 0.4% | 7.7% | ||
| Q1 24 | -3.0% | — |
| Q4 25 | $-0.30 | — | ||
| Q3 25 | $0.48 | $1.15 | ||
| Q2 25 | $0.40 | $0.99 | ||
| Q1 25 | $-0.16 | $-0.24 | ||
| Q4 24 | $0.24 | — | ||
| Q3 24 | $-0.23 | $0.87 | ||
| Q2 24 | $0.03 | $0.38 | ||
| Q1 24 | $-0.17 | — |
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 | $3.0B |
| Total DebtLower is stronger | $20.8B | — |
| Stockholders' EquityBook value | $-554.0M | $803.5M |
| Total Assets | $26.4B | $11.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $3.0B | ||
| Q2 25 | $1.7B | $2.6B | ||
| Q1 25 | $1.1B | $2.8B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $719.0M | $2.4B | ||
| Q2 24 | $595.0M | $1.8B | ||
| Q1 24 | $733.0M | — |
| Q4 25 | $20.8B | — | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | — | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — | ||
| Q1 24 | $22.1B | — |
| Q4 25 | $-554.0M | — | ||
| Q3 25 | $-565.0M | $803.5M | ||
| Q2 25 | $-764.0M | $278.3M | ||
| Q1 25 | $-1.2B | $-267.5M | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | $-1.2B | $-688.9M | ||
| Q2 24 | $-1.2B | $-1.1B | ||
| Q1 24 | $-1.1B | — |
| Q4 25 | $26.4B | — | ||
| Q3 25 | $26.8B | $11.5B | ||
| Q2 25 | $27.3B | $11.1B | ||
| Q1 25 | $26.4B | $10.7B | ||
| Q4 24 | $26.5B | — | ||
| Q3 24 | $26.5B | — | ||
| Q2 24 | $26.5B | — | ||
| Q1 24 | $26.9B | — |
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 | $663.9M |
| Free Cash FlowOCF − Capex | $403.0M | — |
| FCF MarginFCF / Revenue | 14.4% | — |
| Capex IntensityCapex / Revenue | 3.3% | — |
| Cash ConversionOCF / Net Profit | — | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $495.0M | — | ||
| Q3 25 | $405.0M | $663.9M | ||
| Q2 25 | $289.0M | $470.7M | ||
| Q1 25 | $211.0M | $587.9M | ||
| Q4 24 | $601.0M | — | ||
| Q3 24 | $405.0M | $828.7M | ||
| Q2 24 | $380.0M | $419.8M | ||
| Q1 24 | $211.0M | — |
| 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 | — | — | ||
| Q3 25 | 2.26× | 1.29× | ||
| Q2 25 | 1.95× | 1.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | 38.00× | 2.63× | ||
| 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% |
VIK
Segment breakdown not available.
