Bausch Health Companies vs Elanco
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KIRA’s take AI analyst
I put Bausch Health Companies and Elanco 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 $4.7B for Elanco, about 2.2 times as much.
- Bausch Health Companies turned more of its sales into free cash flow (9.8% FCF margin, against 6.0%).
- Bausch Health Companies earned a higher return on the capital invested in it (4.5%, against −0.1%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Bausch Health Companies
BHC
5/8
Revenue growthNet marginFCF marginReturn on capitalPiotroski F-score
Elanco
ELAN
3/8
5-year growthNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BHC FY25 | ELAN FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $11.6B |
| Revenue | $10.3B | $4.7B |
| Free cash flow | $1.0B | $284M |
| Net income | $157M | −$232M |
| Growth | ||
| Revenue growth | 6.7% | 6.2% |
| 5-year growth | 5.0% | 7.6% |
| Share count change | 1.9% | −0.2% |
| Profitability | ||
| Gross margin | — | 55.0% |
| Operating margin | 17.7% | — |
| Net margin | 1.5% | −4.9% |
| FCF margin | 9.8% | 6.0% |
| Return on capital | 4.5% | −0.1% |
| Return on equity | — | −3.7% |
| Balance sheet | ||
| Net debt | $19.5B | $3.5B |
| Net debt / EBITDA | 6.5x | 5.2x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 7 | 6 |
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.