Bausch Health Companies IncBausch Health Companies Inc
Bausch Health Companies Inc

Bausch Health Companies Inc

BHC
Health Care·Pharmaceuticals

Bausch Health Cos., Inc. engages in the development, manufacture and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: Salix, International, Solta Medical, Diversified Products, and Bausch + Lomb. The Salix segment consists of sales in the U.S. of GI products. Sales of the Xifaxan product line. The International segment comprises of sales, except for sales of Bausch + Lomb products and Solta aesthetic medical devices, outside the U.S and Puerto Rico of branded pharmaceutical products, branded generic pharmaceutical and OTC products. The Solta Medical segment refers to global sales of Solta Medical aesthetic medical devices. The Diversified Products segment covers sales in the U.S. of pharmaceutical products in the areas of neurology and certain other therapeutic classes, generic products, ortho dermatologic, and dentistry products. The Bausch + Lomb segment are global sales of Bausch + Lomb vision care, surgical and ophthalmic pharmaceuticals products. The company was founded on March 29, 1994, and is headquartered in Laval, Canada.

Quebec; Canada
Market cap
$2.3BNo data
Revenue
$10.3B+6.7% YoY
Net income
$157M+441.3% YoY
Free cash flow
$1B−20.4% YoY

Market

Listed stock
BHCPriceNYSE
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Financial performance

Revenue
$10.3B+6.7% YoY
Operating income
$1.8B+17.3% YoY
Net income
$157M+441.3% YoY
Free cash flow
$1B−20.4% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $8.4B, 2022 $8.1B, 2023 $8.8B, 2024 $9.6B, 2025 $10.3B. Operating income: 2021 $450M, 2022 $454M, 2023 $963M, 2024 $1.5B, 2025 $1.8B. Net income: 2021 $-948M, 2022 $-225M, 2023 $-592M, 2024 $-46M, 2025 $157M. Free cash flow: 2021 $1.2B, 2022 $-946M, 2023 $817M, 2024 $1.3B, 2025 $1B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
6.7%−325 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $450M, 2022-12-31 $454M, 2023-12-31 $963M, 2024-12-31 $1.5B, 2025-12-31 $1.8B. Net income: 2021-12-31 $-948M, 2022-12-31 $-225M, 2023-12-31 $-592M, 2024-12-31 $-46M, 2025-12-31 $157M. Free cash flow: 2021-12-31 $1.2B, 2022-12-31 $-946M, 2023-12-31 $817M, 2024-12-31 $1.3B, 2025-12-31 $1B

Growth heatmap

2022202320242025CAGR
Revenue
-3.7%
+7.8%
+9.9%
+6.7%
+5.0%
Gross profit
No data
No data
No data
No data
No data
Operating income
+0.9%
+112.1%
+60.5%
+17.3%
+41.7%
Free cash flow
-181.8%
+186.4%
+54.2%
-20.4%
-3.5%

Earnings quality

Operating cash flow
$1.4B−12.3% YoY
Net income
$157M+441.3% YoY
Free cash flow
$1B−20.4% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 892%, 2024-12-31 -3472%, 2023-12-31 -174%, 2022-12-31 324%, 2021-12-31 -150%. Free cash flow: 2025-12-31 639%, 2024-12-31 -2739%, 2023-12-31 -138%, 2022-12-31 420%, 2021-12-31 -122%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data