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Side-by-side financial comparison of Bausch Health Companies Inc. (BHC) and WATSCO INC (WSO). 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 1.8× WATSCO INC). WATSCO INC runs the higher net margin — 6.1% vs -3.7%, a 9.7% gap on every dollar of revenue. On growth, Bausch Health Companies Inc. posted the faster year-over-year revenue change (9.3% vs 0.1%). Over the past eight quarters, Bausch Health Companies Inc.'s revenue compounded faster (14.0% CAGR vs -15.3%).
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...
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
BHC vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $1.5B |
| Net Profit | $-103.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | 17.0% | 7.2% |
| Net Margin | -3.7% | 6.1% |
| Revenue YoY | 9.3% | 0.1% |
| Net Profit YoY | -205.1% | -1.7% |
| EPS (diluted) | $-0.30 | — |
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.
| Q1 26 | — | $1.5B | ||
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.4B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $-103.0M | $71.7M | ||
| Q3 25 | $179.0M | $161.6M | ||
| Q2 25 | $148.0M | $183.6M | ||
| Q1 25 | $-58.0M | $80.1M | ||
| Q4 24 | $98.0M | $96.8M | ||
| Q3 24 | $-85.0M | $171.0M | ||
| Q2 24 | $10.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | — | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 17.0% | 6.4% | ||
| Q3 25 | 23.1% | 11.4% | ||
| Q2 25 | 17.5% | 13.2% | ||
| Q1 25 | 12.2% | 7.3% | ||
| Q4 24 | 21.8% | 7.8% | ||
| Q3 24 | 12.7% | 11.6% | ||
| Q2 24 | 16.2% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | -3.7% | 4.5% | ||
| Q3 25 | 6.7% | 7.8% | ||
| Q2 25 | 5.8% | 8.9% | ||
| Q1 25 | -2.6% | 5.2% | ||
| Q4 24 | 3.8% | 5.5% | ||
| Q3 24 | -3.4% | 7.9% | ||
| Q2 24 | 0.4% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.30 | $1.82 | ||
| Q3 25 | $0.48 | $3.98 | ||
| Q2 25 | $0.40 | $4.52 | ||
| Q1 25 | $-0.16 | $1.93 | ||
| Q4 24 | $0.24 | $2.42 | ||
| Q3 24 | $-0.23 | $4.22 | ||
| Q2 24 | $0.03 | $4.49 |
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 | $392.7M |
| Total DebtLower is stronger | $20.8B | — |
| Stockholders' EquityBook value | $-554.0M | $3.2B |
| Total Assets | $26.4B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $1.3B | $733.3M | ||
| Q3 25 | $1.3B | $524.3M | ||
| Q2 25 | $1.7B | $293.0M | ||
| Q1 25 | $1.1B | $431.8M | ||
| Q4 24 | $1.2B | $781.9M | ||
| Q3 24 | $719.0M | $550.0M | ||
| Q2 24 | $595.0M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $20.8B | $361.6M | ||
| Q3 25 | $21.0B | $340.8M | ||
| Q2 25 | $21.7B | $338.7M | ||
| Q1 25 | $21.5B | $346.4M | ||
| Q4 24 | $21.6B | $337.2M | ||
| Q3 24 | $21.5B | $321.0M | ||
| Q2 24 | $21.7B | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $-554.0M | $2.8B | ||
| Q3 25 | $-565.0M | $2.8B | ||
| Q2 25 | $-764.0M | $2.8B | ||
| Q1 25 | $-1.2B | $2.7B | ||
| Q4 24 | $-1.3B | $2.7B | ||
| Q3 24 | $-1.2B | $2.7B | ||
| Q2 24 | $-1.2B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $26.4B | $4.4B | ||
| Q3 25 | $26.8B | $4.6B | ||
| Q2 25 | $27.3B | $4.7B | ||
| Q1 25 | $26.4B | $4.5B | ||
| Q4 24 | $26.5B | $4.5B | ||
| Q3 24 | $26.5B | $4.5B | ||
| Q2 24 | $26.5B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× |
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 | — |
| Free Cash FlowOCF − Capex | $403.0M | — |
| FCF MarginFCF / Revenue | 14.4% | — |
| Capex IntensityCapex / Revenue | 3.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $495.0M | $399.8M | ||
| Q3 25 | $405.0M | $354.9M | ||
| Q2 25 | $289.0M | $-7.4M | ||
| Q1 25 | $211.0M | $-177.6M | ||
| Q4 24 | $601.0M | $378.9M | ||
| Q3 24 | $405.0M | $232.8M | ||
| Q2 24 | $380.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $403.0M | $388.5M | ||
| Q3 25 | $314.0M | $346.1M | ||
| Q2 25 | $190.0M | $-14.3M | ||
| Q1 25 | $96.0M | $-185.2M | ||
| Q4 24 | $495.0M | $370.9M | ||
| Q3 24 | $334.0M | $223.0M | ||
| Q2 24 | $302.0M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | 24.6% | ||
| Q3 25 | 11.7% | 16.7% | ||
| Q2 25 | 7.5% | -0.7% | ||
| Q1 25 | 4.2% | -12.1% | ||
| Q4 24 | 19.3% | 21.1% | ||
| Q3 24 | 13.3% | 10.3% | ||
| Q2 24 | 12.6% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 0.7% | ||
| Q3 25 | 3.4% | 0.4% | ||
| Q2 25 | 3.9% | 0.3% | ||
| Q1 25 | 5.1% | 0.5% | ||
| Q4 24 | 4.1% | 0.5% | ||
| Q3 24 | 2.8% | 0.5% | ||
| Q2 24 | 3.2% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | 2.26× | 2.20× | ||
| Q2 25 | 1.95× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | 6.13× | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | 38.00× | 0.32× |
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% |
WSO
Segment breakdown not available.
