A Business at a Glance
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Bausch Health Companies Inc.
BHC
$2.3B
Mkt Cap
$6.07
-1.46%
Bausch Health Companies Inc. (“we”, “us”, “our”, the “Company” or “Bausch Health”) is a global, diversified specialty pharmaceutical and medical device company that develops, manufactures and markets, primarily in the therapeutic areas of gastroenterology (“GI”), hepatology, neurology and dermatology, a broad range of branded, generic and branded generic pharmaceuticals, over-the-counter (“OTC”) products and aesthetic medical devices and, through our approximately 88% ownership of Bausch + Lomb Corporation (“Bausch + Lomb” or “B+L”), branded, and branded generic pharmaceuticals, OTC products and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment) in the therapeutic areas of eye health. The Company’s products are marketed directly or indirectly in approximately 90 countries. Our portfolio of products falls into five reportable segments: (i) Salix, (ii) International, (iii) Solta Medical, (iv) Diversified and (v) Bausch + Lomb.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 10.9B | 10.3B | 9.6B | 8.8B | 8.1B | 8.4B |
| Net Income | -1.1B | 157M | -46M | -592M | -225M | -948M |
| EPS | $-2.94 | $0.42 | $-0.13 | $-1.62 | $-0.62 | $-2.64 |
| Free Cash Flow | 1.4B | 1.0B | 1.3B | 817M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 8.2B | 10.4B | 9.7B | 8.7B | 8.4B | 8.6B | 8.0B | 8.4B | 8.1B | 8.8B | 9.6B | 10.3B | 10.9B |
| Gross Margin | 73.5% | 75.8% | 73.4% | 71.3% | 44.3% | 70.6% | 65.3% | 59.8% | 72.4% | 65.4% | 70.0% | 70.6% | N/A |
| R&D | 246M | 334M | 421M | 361M | 413M | 471M | 452M | 465M | 529M | 604M | 616M | 629M | 663M |
| SG&A | 2.0B | 2.7B | 2.8B | 2.6B | 2.5B | 2.6B | 2.4B | 2.6B | 2.6B | 2.9B | 3.3B | 3.4B | 3.4B |
| EBIT | 2.0B | 1.5B | -566M | 99M | -2.4B | -203M | 676M | 450M | 454M | 963M | 1.5B | 1.8B | 883M |
| Op. Margin | 24.4% | 14.6% | -5.9% | 1.1% | -28.4% | -2.4% | 8.4% | 5.3% | 5.6% | 11.0% | 16.1% | 17.7% | 8.1% |
| Net Income | 881M | -292M | -2.4B | 2.4B | -4.1B | -1.8B | -560M | -948M | -225M | -592M | -46M | 157M | -1.1B |
| Net Margin | 10.7% | -2.8% | -24.9% | 27.6% | -49.5% | -20.8% | -7.0% | -11.2% | -2.8% | -6.8% | -0.5% | 1.5% | -10.1% |
| Non-Recurring | 636M | 357M | 1.2B | 943M | 2.3B | 62M | 137M | 471M | 829M | 496M | 39M | 151M | 151M |
| Returns on Capital | |||||||||||||
| ROIC | 8.0% | 5.4% | -1.6% | 7.5% | -14.3% | -0.8% | 2.8% | 2.0% | 2.2% | 4.8% | 4.7% | 5.7% | 4.1% |
| ROE | 16.9% | -5.2% | -53.2% | 53.4% | -96.7% | -94.2% | -70.1% | -442.0% | 56.4% | 69.1% | 4.0% | -17.1% | 0.0% |
| ROA | 3.2% | -0.8% | -5.2% | 5.9% | -11.9% | -5.4% | -1.7% | -3.1% | -0.8% | -2.2% | -0.2% | 0.6% | -4.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.3B | 2.3B | 2.1B | 2.3B | 1.5B | 1.5B | 1.1B | 1.4B | -728M | 1.0B | 1.6B | 1.4B | 1.8B |
| Free Cash Flow | 2.0B | 2.0B | 1.9B | 2.1B | 1.3B | 1.2B | 809M | 1.2B | -946M | 817M | 1.3B | 1.0B | 1.4B |
| Owner Earnings | 1.3B | 933M | 726M | 773M | -108M | -242M | -775M | -522M | -2.8B | -1.2B | -697M | -1.2B | -821M |
| CapEx | 292M | 235M | 235M | 171M | 157M | 270M | 302M | 269M | 218M | 215M | 337M | 397M | 369M |
| Maint. CapEx | 978M | 1.2B | 1.2B | 1.4B | 1.5B | 1.6B | 1.8B | 1.8B | 1.9B | 2.1B | 2.1B | 2.4B | 2.4B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 978M | 1.2B | 1.2B | 1.4B | 1.5B | 1.6B | 1.8B | 1.8B | 1.9B | 2.1B | 2.1B | 2.4B | 2.4B |
| CapEx/OCF | 12.7% | 10.4% | 11.3% | 7.5% | 10.5% | 18.0% | 27.2% | 18.9% | N/A | 20.8% | 21.1% | 28.4% | 20.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 78M | 140M | 165M | 87M | 87M | 102M | 105M | 128M | 126M | 132M | 150M | 216M | 233M |
| Debt Repayment | 3.9B | 2.1B | 2.4B | 14.2B | 10.1B | 4.4B | 5.6B | 3.4B | 7.8B | 1.7B | 1.5B | 11.2B | 11.2B |
| Balance Sheet | |||||||||||||
| Net Debt | 14.8B | 30.5B | 29.3B | 24.7B | 23.6B | 22.9B | 23.6B | 22.3B | 20.4B | 21.6B | 20.6B | 19.7B | 18.9B |
| Cash & Equiv. | 323M | 597M | 542M | 720M | 721M | 3.2B | 605M | 582M | 564M | 947M | 1.2B | 1.3B | 1.8B |
| Long-Term Debt | 15.2B | 30.3B | 29.8B | 25.2B | 24.1B | 24.7B | 23.9B | 22.7B | 20.3B | 21.9B | 18.9B | 20.6B | 19.9B |
| Debt/Equity | 2.89 | 5.26 | 9.47 | 4.35 | 8.89 | 24.65 | 45.24 | -216.21 | -30.35 | -22.11 | -17.08 | -37.99 | 0.00 |
| Interest Coverage | 2.1 | 1.0 | -0.3 | 0.1 | -1.4 | -0.1 | 0.4 | 0.3 | 0.3 | 0.7 | 1.1 | 1.1 | 0.5 |
| Equity | 5.3B | 5.9B | 3.2B | 5.8B | 2.7B | 1.1B | 535M | -106M | -692M | -1.0B | -1.3B | -554M | -1.8B |
| Total Assets | 26.3B | 49.0B | 43.5B | 37.5B | 32.5B | 33.9B | 31.2B | 29.2B | 25.7B | 27.4B | 26.5B | 26.4B | 24.8B |
| Total Liabilities | 20.9B | 42.9B | 40.3B | 31.6B | 29.7B | 32.7B | 30.6B | 29.2B | 25.4B | 27.4B | 26.8B | 26.0B | 25.6B |
| Intangibles | 11.3B | 23.1B | 18.9B | 15.2B | 12.0B | 10.2B | 8.4B | 6.9B | 5.8B | 6.5B | 5.6B | 4.6B | 4.2B |
| Retained Earnings | -2.4B | -2.8B | -5.1B | -2.7B | -5.7B | -7.5B | -8.0B | -9.0B | -9.2B | -9.8B | -9.8B | -9.7B | -10.8B |
| Working Capital | 1.4B | 194M | 1.5B | 478M | 375M | 721M | 429M | 409M | 306M | 1.3B | -978M | 2.0B | 2.0B |
| Current Assets | 4.1B | 5.5B | 5.1B | 4.7B | 4.2B | 7.0B | 5.3B | 5.6B | 4.2B | 5.6B | 5.8B | 6.2B | 6.5B |
| Current Liabilities | 2.7B | 5.3B | 3.6B | 4.3B | 3.8B | 6.2B | 4.9B | 5.2B | 3.9B | 4.3B | 6.8B | 4.2B | 4.5B |
| Per Share Data | |||||||||||||
| EPS | 2.58 | -0.85 | -6.94 | 6.83 | -11.81 | -5.08 | -1.58 | -2.64 | -0.62 | -1.62 | -0.13 | 0.42 | -2.94 |
| Owner EPS | 3.68 | 2.72 | 2.09 | 2.20 | -0.31 | -0.69 | -2.19 | -1.45 | -7.64 | -3.24 | -1.97 | -3.32 | -2.20 |
| Book Value | 15.46 | 17.20 | 9.08 | 16.62 | 7.78 | 3.02 | 1.51 | -0.30 | -1.91 | -2.80 | -3.61 | -1.48 | -4.74 |
| Cash Flow/Share | 6.77 | 6.57 | 6.01 | 6.51 | 4.27 | 4.26 | 3.13 | 3.97 | -2.01 | 2.82 | 4.51 | 3.75 | 3.45 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 341.5M | 343.5M | 347.1M | 352.0M | 351.2M | 352.0M | 354.4M | 359.1M | 362.9M | 365.4M | 353.8M | 373.8M | 373.9M |
| Valuation | |||||||||||||
| P/E Ratio | 54.8 | N/A | N/A | 3.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 17.1 | -2.1 |
| P/FCF | 23.9 | 17.4 | 2.7 | 3.5 | 4.9 | 8.5 | 8.7 | 8.7 | N/A | 3.6 | 2.1 | 2.7 | 1.6 |
| EV/EBIT | 31.4 | 43.1 | N/A | 319.8 | N/A | N/A | 44.0 | 70.2 | 49.1 | 24.8 | 15.9 | 11.6 | 24.0 |
| Price/Book | 9.1 | 5.9 | 1.6 | 1.3 | 2.4 | 9.8 | 13.2 | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 5.4 | 6.1 | 1.3 | 1.9 | 2.9 | 4.5 | 4.2 | 7.5 | 4.0 | 2.6 | 2.6 | 2.4 | 0.2 |
| FCF Yield | 4.2% | 5.8% | 37.5% | 28.5% | 20.4% | 11.8% | 11.5% | 11.4% | -42.8% | 27.9% | 46.5% | 37.3% | 63.1% |
| Market Cap | 48.3B | 35.1B | 4.9B | 7.4B | 6.6B | 10.5B | 7.0B | 10.1B | 2.2B | 2.9B | 2.7B | 2.7B | 2.3B |
| Avg. Price | 129.17 | 186.66 | 37.20 | 14.16 | 21.52 | 24.04 | 19.44 | 28.55 | 13.30 | 7.81 | 7.78 | 6.44 | 6.07 |
| Year-End Price | 141.46 | 102.14 | 14.23 | 21.16 | 18.79 | 29.70 | 19.86 | 28.18 | 6.09 | 8.02 | 7.65 | 7.20 | 6.07 |
Bausch Health Companies Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 1.6x vs a median of 3.6x. The company's 5-year average ROIC is 3.9% with a gross margin of 67.6%. At current prices, the estimated annualized return to fair value is -2.6%.
Bausch Health Companies Inc. (BHC) has a 5-year average return on invested capital (ROIC) of 3.9%. This is below average and may indicate limited pricing power.
Bausch Health Companies Inc. (BHC) has a market capitalization of $2.3B. It is classified as a mid-cap stock.
Bausch Health Companies Inc. (BHC) does not currently pay a regular dividend.
Bausch Health Companies Inc. (BHC) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Bausch Health Companies Inc. (BHC) reported annual revenue of $10.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Bausch Health Companies Inc. (BHC) has a net profit margin of 1.5%. This is a modest margin.
Bausch Health Companies Inc. (BHC) generated $1.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
| -946M |
| 1.2B |
| ROIC | 4.1% | 5.7% | 4.7% | 4.8% | 2.2% | 2.0% |
|---|
| Gross Margin | - | 70.6% | 70.0% | 65.4% | 72.4% | 59.8% |
|---|
| Debt/Equity | 0.00 | -37.99 | -17.08 | -22.11 | -30.35 | -216.21 |
|---|
| Dividends/Share | $0.00 | - | - | - | - | - |
|---|
| Operating Income | 883M | 1.8B | 1.5B | 963M | 454M | 450M |
|---|
| Operating Margin | 8.1% | 17.7% | 16.1% | 11.0% | 5.6% | 5.3% |
|---|
| ROE | 0.0% | -17.1% | 4.0% | 69.1% | 56.4% | -442.0% |
|---|
| Shares Outstanding | 374M | 374M | 354M | 365M | 363M | 359M |
|---|
Bausch Health Companies Inc. (BHC) reported earnings per share (EPS) of $0.42 in its most recent fiscal year.
Bausch Health Companies Inc. (BHC) has a return on equity (ROE) of -17.1%. A negative ROE may indicate losses or negative equity.
Bausch Health Companies Inc. (BHC) has a 5-year average gross margin of 67.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for Bausch Health Companies Inc. (BHC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Bausch Health Companies Inc. (BHC) has a book value per share of $-1.48, based on its most recent annual SEC filing.