Bausch Health Companies vs Jazz Pharmaceuticals
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The short version
- Bausch Health Companies is the larger business, with $10.3B of revenue in fiscal 2025 against $4.3B for Jazz Pharmaceuticals, about 2.4 times as much.
- Bausch Health Companies grew revenue faster (6.7%, against 4.9%).
- Bausch Health Companies kept more of each dollar of sales as operating profit (17.7% operating margin, against −10.1%).
- Jazz Pharmaceuticals turned more of its sales into free cash flow (30.4% FCF margin, against 9.8%).
- Bausch Health Companies earned a higher return on the capital invested in it (4.5%, against −4.2%).
| Latest fiscal year | BHC · FY25 | JAZZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $14.9B |
| Revenue | $10.3B | $4.3B |
| Free cash flow | $1.0B | $1.3B |
| Net income | $157M | −$356M |
| Growth | ||
| Revenue growth | 6.7% | 4.9% |
| 5-year growth | 5.0% | 12.5% |
| Share count change | 1.9% | −7.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 17.7% | −10.1% |
| Net margin | 1.5% | −8.4% |
| FCF margin | 9.8% | 30.4% |
| Return on capital | 4.5% | −4.2% |
| Return on equity | — | −8.5% |
| Balance sheet | ||
| Net debt | $19.5B | $4.0B |
| Net debt / EBITDA | 6.5x | — |
| Dividends and buybacks | $0.0M | $125M |
| Valuation & quality | ||
| P/E | — | 14.6x |
| Piotroski F-score | 7 | 4 |
FY16
BHC $9.7B
JAZZ $1.5B
FY17
BHC $8.7B
JAZZ $1.6B
FY18
BHC $8.4B
JAZZ $1.9B
FY19
BHC $8.6B
JAZZ $2.2B
FY20
BHC $8.0B
JAZZ $2.4B
FY21
BHC $8.4B
JAZZ $3.1B
FY22
BHC $8.1B
JAZZ $3.7B
FY23
BHC $8.8B
JAZZ $3.8B
FY24
BHC $9.6B
JAZZ $4.1B
FY25
BHC $10.3B
JAZZ $4.3B
BHC
JAZZ
FY16
BHC −5.9%
JAZZ 39.8%
FY17
BHC 1.2%
JAZZ 32.7%
FY18
BHC −28.5%
JAZZ 32.5%
FY19
BHC −2.4%
JAZZ 24.6%
FY20
BHC 8.4%
JAZZ 16.0%
FY21
BHC 5.3%
JAZZ 5.5%
FY22
BHC 5.6%
JAZZ −1.8%
FY23
BHC 11.0%
JAZZ 15.1%
FY24
BHC 16.1%
JAZZ 17.6%
FY25
BHC 17.7%
JAZZ −10.1%
BHC
JAZZ
FY16
BHC $1.9B
JAZZ $583M
FY17
BHC $2.1B
JAZZ $664M
FY18
BHC $1.3B
JAZZ $779M
FY19
BHC $1.2B
JAZZ $736M
FY20
BHC $809M
JAZZ $885M
FY21
BHC $1.2B
JAZZ $751M
FY22
BHC −$946M
JAZZ $1.2B
FY23
BHC $817M
JAZZ $1.1B
FY24
BHC $1.3B
JAZZ $1.4B
FY25
BHC $1.0B
JAZZ $1.3B
BHC
JAZZ
FY16
BHC −1.3%
JAZZ 16.7%
FY17
BHC 0.3%
JAZZ —
FY18
BHC −6.6%
JAZZ —
FY19
BHC −0.6%
JAZZ 13.1%
FY20
BHC 2.2%
JAZZ 7.6%
FY21
BHC 1.6%
JAZZ 1.9%
FY22
BHC 1.7%
JAZZ −0.6%
FY23
BHC 3.6%
JAZZ 7.3%
FY24
BHC 3.7%
JAZZ 9.1%
FY25
BHC 4.5%
JAZZ −4.2%
BHC
JAZZ
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.