Bausch Health Companies vs Viatris
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KIRA’s take AI analyst
I put Bausch Health Companies and Viatris side by side, using each one’s latest annual report. Here is what stands out:
- Viatris is the larger business, with $14.3B of revenue in fiscal 2025 against $10.3B for Bausch Health Companies.
- Bausch Health Companies grew revenue faster (6.7%, against −3.0%).
- Bausch Health Companies kept more of each dollar of sales as operating profit (17.7% operating margin, against −18.6%).
- Viatris turned more of its sales into free cash flow (13.6% FCF margin, against 9.8%).
- Bausch Health Companies earned a higher return on the capital invested in it (4.5%, against −7.1%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Bausch Health Companies
BHC
7/9
Revenue growth5-year growthOperating marginNet marginReturn on capitalPiotroski F-scoreNet debt / EBITDA
Viatris
VTRS
2/9
FCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | BHC FY25 | VTRS FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $21.3B |
| Revenue | $10.3B | $14.3B |
| Free cash flow | $1.0B | $1.9B |
| Net income | $157M | −$3.5B |
| Growth | ||
| Revenue growth | 6.7% | −3.0% |
| 5-year growth | 5.0% | 3.7% |
| Share count change | 1.9% | −1.9% |
| Profitability | ||
| Gross margin | — | 35.1% |
| Operating margin | 17.7% | −18.6% |
| Net margin | 1.5% | −24.6% |
| FCF margin | 9.8% | 13.6% |
| Return on capital | 4.5% | −7.1% |
| Return on equity | — | −21.1% |
| Balance sheet | ||
| Net debt | $19.5B | $13.1B |
| Net debt / EBITDA | 6.5x | 96.5x |
| Dividends and buybacks | $0.0M | $501M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 7 | 4 |
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.