Bausch Health Companies vs Zoetis
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KIRA’s take AI analyst
I put Bausch Health Companies and Zoetis side by side, using each one’s latest annual report. Here is what stands out:
- Bausch Health Companies is the larger business, with $10.3B of revenue in fiscal 2025 against $9.5B for Zoetis.
- Bausch Health Companies grew revenue faster (6.7%, against 2.3%).
- Zoetis turned more of its sales into free cash flow (24.1% FCF margin, against 9.8%).
- Zoetis earned a higher return on the capital invested in it (29.3%, against 4.5%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Bausch Health Companies
BHC
1/8
Revenue growth
Zoetis
ZTS
7/8
5-year growthNet marginFCF marginReturn on capitalPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BHC FY25 | ZTS FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $33.8B |
| Revenue | $10.3B | $9.5B |
| Free cash flow | $1.0B | $2.3B |
| Net income | $157M | $2.7B |
| Growth | ||
| Revenue growth | 6.7% | 2.3% |
| 5-year growth | 5.0% | 7.2% |
| Share count change | 1.9% | −2.4% |
| Profitability | ||
| Gross margin | — | 71.8% |
| Operating margin | 17.7% | — |
| Net margin | 1.5% | 28.2% |
| FCF margin | 9.8% | 24.1% |
| Return on capital | 4.5% | 29.3% |
| Return on equity | — | 66.0% |
| Balance sheet | ||
| Net debt | $19.5B | $6.7B |
| Net debt / EBITDA | 6.5x | 1.7x |
| Dividends and buybacks | $0.0M | $4.1B |
| Valuation & quality | ||
| P/E | — | 13.3x |
| Piotroski F-score | 7 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.