Bausch Health Companies vs Teva Pharmaceuticals
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The short version
- Teva Pharmaceuticals is the larger business, with $17.3B of revenue in fiscal 2025 against $10.3B for Bausch Health Companies, about 1.7 times as much.
- Bausch Health Companies grew revenue faster (6.7%, against 4.3%).
- Bausch Health Companies kept more of each dollar of sales as operating profit (17.7% operating margin, against 12.5%).
- Bausch Health Companies turned more of its sales into free cash flow (9.8% FCF margin, against 6.7%).
- Teva Pharmaceuticals earned a higher return on the capital invested in it (10.5%, against 4.5%).
| Latest fiscal year | BHC · FY25 | TEVA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $45.9B |
| Revenue | $10.3B | $17.3B |
| Free cash flow | $1.0B | $1.1B |
| Net income | $157M | $1.4B |
| Growth | ||
| Revenue growth | 6.7% | 4.3% |
| 5-year growth | 5.0% | 0.7% |
| Share count change | 1.9% | 2.8% |
| Profitability | ||
| Gross margin | — | 51.8% |
| Operating margin | 17.7% | 12.5% |
| Net margin | 1.5% | 8.2% |
| FCF margin | 9.8% | 6.7% |
| Return on capital | 4.5% | 10.5% |
| Return on equity | — | 21.2% |
| Balance sheet | ||
| Net debt | $19.5B | $13.3B |
| Net debt / EBITDA | 6.5x | 4.2x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | 65.7x |
| Piotroski F-score | 7 | 8 |
Revenue
FY16
BHC $9.7B
TEVA $21.9B
FY17
BHC $8.7B
TEVA $21.9B
FY18
BHC $8.4B
TEVA $18.3B
FY19
BHC $8.6B
TEVA $16.9B
FY20
BHC $8.0B
TEVA $16.7B
FY21
BHC $8.4B
TEVA $15.9B
FY22
BHC $8.1B
TEVA $14.9B
FY23
BHC $8.8B
TEVA $15.8B
FY24
BHC $9.6B
TEVA $16.5B
FY25
BHC $10.3B
TEVA $17.3B
BHC
TEVA
Operating margin
FY16
BHC −5.9%
TEVA 9.8%
FY17
BHC 1.2%
TEVA −80.0%
FY18
BHC −28.5%
TEVA −9.0%
FY19
BHC −2.4%
TEVA −2.6%
FY20
BHC 8.4%
TEVA −21.4%
FY21
BHC 5.3%
TEVA 10.8%
FY22
BHC 5.6%
TEVA −14.7%
FY23
BHC 11.0%
TEVA 2.7%
FY24
BHC 16.1%
TEVA −1.8%
FY25
BHC 17.7%
TEVA 12.5%
BHC
TEVA
Free cash flow
FY16
BHC $1.9B
TEVA $3.0B
FY17
BHC $2.1B
TEVA $1.4B
FY18
BHC $1.3B
TEVA $1.8B
FY19
BHC $1.2B
TEVA $223M
FY20
BHC $809M
TEVA $638M
FY21
BHC $1.2B
TEVA $236M
FY22
BHC −$946M
TEVA $1.0B
FY23
BHC $817M
TEVA $842M
FY24
BHC $1.3B
TEVA $749M
FY25
BHC $1.0B
TEVA $1.1B
BHC
TEVA
Return on capital
FY16
BHC −1.3%
TEVA 2.1%
FY17
BHC 0.3%
TEVA −23.0%
FY18
BHC −6.6%
TEVA −2.8%
FY19
BHC −0.6%
TEVA −0.8%
FY20
BHC 2.2%
TEVA −7.5%
FY21
BHC 1.6%
TEVA 3.5%
FY22
BHC 1.7%
TEVA −5.9%
FY23
BHC 3.6%
TEVA 1.3%
FY24
BHC 3.7%
TEVA −1.1%
FY25
BHC 4.5%
TEVA 10.5%
BHC
TEVA
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.