Bausch + Lomb Corporation (BLCO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.16	$0.16	0.0%	—	$1.4B	—
Q1 26	$0.05	$0.08	+60.0%	—	$1.2B	—
Q4 25	$0.36	$0.32	-11.1%	—	$1.4B	—
Q3 25	$0.16	$0.18	+12.5%	—	$1.3B	—
Q2 25	$0.08	$0.07	-12.5%	—	$1.3B	—
Q1 25	$0.02	-$0.07	-450.0%	—	$1.1B	—
Q4 24	$0.23	$0.25	+8.7%	—	$1.3B	—
Q3 24	$0.16	$0.17	+6.3%	—	$1.2B	—
Q2 24	$0.12	$0.13	+8.3%	—	$1.2B	—
Q1 24	$0.07	$0.07	0.0%	—	$1.1B	—
Q4 23	$0.17	$0.24	+41.2%	—	$1.2B	—
Q3 23	$0.19	$0.22	+15.8%	—	$1B	—
Q2 23	$0.15	$0.18	+20.0%	—	$1B	—
Q1 23	$0.14	$0.1	-28.6%	—	$931M	—
Q4 22	$0.22	$0.23	+4.5%	—	$996M	—
Q3 22	$0.23	$0.31	+34.8%	—	$942M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.02	—	—	$5.1B	—
FY24	—	-$0.9	—	—	$4.8B	—
FY23	—	-$0.74	—	—	$4.1B	—
FY22	—	$0.02	—	—	$3.8B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.7B	$3.8B	$3.4B	$3.8B	$3.8B	$4.1B	$4.8B	$5.1B
YoY change	—	+3.08%	-9.69%	+10.3%	+0.08%	+10%	+15.6%	+6.47%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.7B	3.8B	3.4B	3.8B	3.8B	4.1B	4.8B	5.1B
Cost of revenue	1.3B	1.3B	1.3B	1.5B	1.5B	1.6B	1.9B	2B
Gross profit	2.4B	2.5B	2.1B	2.3B	2.2B	2.5B	2.9B	3.1B
Gross margin	64.2%	64.9%	62.3%	61%	59.7%	60.4%	60.9%	59.8%
Research & development	221M	289M	281M	276M	308M	324M	343M	371M
Selling, general & administrative	1.3B	1.4B	1.3B	1.4B	1.5B	1.7B	2.1B	2.2B
Operating expenses	1.5B	1.7B	1.5B	1.7B	1.8B	2.1B	2.4B	2.6B
Operating income	427M	432M	270M	341M	219M	204M	206M	188M
Operating margin	11.7%	11.4%	7.91%	9.06%	5.81%	4.92%	4.3%	3.69%
Non-operating income, net	-10M	-34M	17M	-23M	-6M	-102M	-56M	-96M
Pretax income	417M	399M	290M	318M	73M	-166M	-234M	-317M
Income tax	-302M	96M	307M	125M	58M	82M	71M	35M
Net income	719M	303M	-17M	193M	15M	-248M	-305M	-352M
Net margin	19.6%	8.02%	-0.5%	5.13%	0.4%	-5.98%	-6.37%	-6.9%
EBITDA	932M	939M	714M	757M	604M	601M	657M	621M
EPS	2.03	0.85	-0.05	0.52	0.02	-0.74	-0.9	-1.02
Diluted EPS	2.03	0.85	-0.05	0.52	0.02	-0.74	-0.9	-1.02

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	1.2B	1.1B	1.2B	1.2B	1.3B	1.1B	1.3B	1.3B	1.4B	1.2B	1.4B
Cost of revenue	392M	461M	424M	483M	464M	501M	482M	525M	510M	533M	483M	527M
Gross profit	615M	712M	675M	733M	732M	779M	655M	753M	771M	872M	761M	867M
Gross margin	61.1%	60.7%	61.4%	60.3%	61.2%	60.9%	57.6%	58.9%	60.2%	62.1%	61.2%	62.2%
Research & development	82M	80M	82M	84M	84M	93M	86M	96M	95M	94M	101M	114M
Selling, general & administrative	418M	483M	504M	535M	511M	532M	563M	579M	528M	564M	544M	588M
Operating expenses	500M	563M	586M	619M	595M	625M	649M	675M	623M	658M	645M	702M
Operating income	68M	69M	15M	40M	65M	86M	-61M	11M	80M	158M	59M	108M
Operating margin	6.75%	5.88%	1.36%	3.29%	5.43%	6.72%	-5.36%	0.86%	6.25%	11.2%	4.74%	7.75%
Non-operating income, net	-31M	-30M	-9M	-17M	-27M	-3M	-28M	-33M	15M	-50M	-30M	-30M
Pretax income	-35M	-57M	-90M	-76M	-58M	-10M	-180M	-147M	-3M	13M	-64M	-11M
Income tax	45M	-6M	73M	72M	-66M	-8M	31M	-89M	22M	71M	6M	-1M
Net income	-80M	-51M	-163M	-148M	8M	-2M	-211M	-58M	-25M	-58M	-70M	-10M
Net margin	-7.94%	-4.35%	-14.8%	-12.2%	0.67%	-0.16%	-18.6%	-4.54%	-1.95%	-4.13%	-5.63%	-0.72%
EBITDA	154M	188M	128M	150M	179M	197M	48M	120M	192M	260M	164M	209M
EPS	-0.24	-0.15	-0.48	-0.43	0.01	-0.01	-0.6	-0.18	-0.08	-0.16	-0.2	-0.04
Diluted EPS	-0.24	-0.15	-0.48	-0.43	0.01	-0.01	-0.6	-0.18	-0.08	-0.16	-0.2	-0.04

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.7B	3.2B	2.3B	2.8B	5.4B	6B	6.4B	6B	6.1B
Enterprise value	2.7B	3B	2B	2.7B	7.5B	10.2B	10.8B	10.7B	10.8B
Shares outstanding	350M	350M	350M	350M	350M	350.5M	351.8M	353.8M	353.8M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	3.78	10.5	—	14.6	361.9	—	—	—	-16.6
P/S	0.74	0.84	0.66	0.75	1.44	1.44	1.33	1.18	1.13
P/B	—	0.32	0.23	0.3	0.76	0.86	0.97	0.93	0.93
EV/EBITDA	2.92	3.19	2.82	3.52	12.4	17	16.5	17.3	13.3
EV/Sales	0.74	0.79	0.59	0.71	1.99	2.46	2.26	2.11	2.04
Earnings yield	26.4%	9.51%	—	6.87%	0.28%	—	—	—	-6.01%
FCF yield	24.4%	19.4%	11.7%	24.2%	3.13%	-3.31%	-0.93%	-1.09%	5.34%
PEG	—	—	—	—	—	—	—	—	0.21

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	64.2%	64.9%	62.3%	61%	59.7%	60.4%	60.9%	59.8%	62.2%
Operating margin	11.7%	11.4%	7.91%	9.06%	5.81%	4.92%	4.3%	3.69%	7.75%
Net margin	19.6%	8.02%	-0.5%	5.13%	0.4%	-5.98%	-6.37%	-6.9%	-3.21%
ROE	—	3.02%	-0.17%	2.05%	0.21%	-3.58%	-4.66%	-5.4%	-2.52%
ROA	—	2.64%	-0.15%	1.78%	0.13%	-1.84%	-2.26%	-2.51%	1.83%
ROIC	—	3.33%	0%	2.24%	0.49%	1.83%	1.87%	1.68%	3.62%
Return on tangible assets	—	-9.04%	0.53%	-6.71%	-0.76%	8.59%	11.9%	17.1%	8.47%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	1.64	1.82	1.49	1.65	1.74	1.6	1.55	1.55
Quick ratio	—	1.07	1.14	0.97	1.16	1.09	1.01	1.04	1.02
Debt / equity	—	—	—	0	0.34	0.66	0.73	0.78	0.79
Debt / assets	—	—	—	0	0.22	0.34	0.36	0.36	0.37
Net debt / EBITDA	—	—	—	-0.19	3.45	7.04	6.82	7.57	5.76
Interest coverage	—	—	—	—	1.5	0.41	0.41	0.25	0.83
Effective tax rate	0%	24.1%	100%	39.3%	79.5%	0%	0%	0%	0%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.5	10.8	9.75	10.8	10.8	11.8	13.6	14.4	15
EPS (basic)	2.03	0.85	-0.05	0.52	0.02	-0.74	-0.9	-1.02	-1.02
EPS (diluted)	2.03	0.85	-0.05	0.52	0.02	-0.74	-0.9	-1.02	-0.48
Book value per share	—	28.7	28.5	26.9	20.3	19.7	18.6	18.4	18.1
FCF per share	1.89	1.77	0.75	1.94	0.49	-0.56	-0.17	-0.19	0.38
Cash per share	—	0.55	0.68	0.5	1.01	0.94	0.87	1.08	1.03
Capex per share	0.29	0.51	0.72	0.55	0.5	0.52	0.83	—	—

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.76%	4.76%	7.42%	5.13%	4.64%	4.37%	6.07%	—	—
Capex / operating cash flow	13.8%	23.7%	53.8%	23.4%	51.6%	164.5%	606.3%	—	—
Payout ratio	—	—	—	—	—	—	—	—	0%

Yield

—

trailing twelve months

Frequency

Annual

Last dividend

$0.18

ex-dividend Jun 10, 2021

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 10, 2021	$0.18
Jun 4, 2020	$0.18
May 29, 2019	$0.53
Jun 8, 2017	$0.49
Jun 9, 2016	$0.47
Jun 8, 2015	$0.42
Jun 10, 2014	$0.35
Jun 10, 2013	$0.25

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	192M	238M	174M	354M	331M	305M	383M
Receivables	713M	645M	721M	724M	839M	1B	1.2B
Inventory	592M	616M	572M	628M	1B	1B	976M
Total current assets	1.7B	1.7B	1.6B	2.1B	2.7B	2.8B	3B
Property, plant & equipment	737M	880M	973M	1B	766M	853M	1B
Goodwill & intangibles	14.8B	14.5B	13.7B	13.1B	16.3B	16B	16.1B
Total assets	11.5B	11.3B	10.8B	11.1B	13.4B	13.5B	14B
Accounts payable	262M	178M	239M	370M	522M	389M	388M
Short-term debt	—	—	28M	25M	30M	40M	39M
Total current liabilities	1B	909M	1.1B	1.3B	1.6B	1.7B	1.9B
Long-term debt	—	—	—	2.4B	4.5B	4.7B	5B
Total liabilities	1.4B	1.3B	1.4B	4B	6.5B	6.9B	7.5B
Shareholders' equity	10B	10B	9.4B	7.1B	6.9B	6.5B	6.5B
Total debt	—	—	28M	2.4B	4.6B	4.8B	5.1B
Net debt	—	—	-146M	2.1B	4.2B	4.5B	4.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	355M	331M	315M	285M	329M	305M	202M	266M	310M	383M	268M	367M
Receivables	783M	839M	920M	986M	943M	1B	1B	1.1B	1.1B	1.2B	1.1B	1.2B
Inventory	754M	1B	1.1B	1.1B	1.1B	1B	1B	1.1B	1B	976M	977M	999M
Total current assets	2.5B	2.7B	2.7B	2.8B	2.8B	2.8B	2.7B	2.8B	2.9B	3B	2.8B	2.9B
Property, plant & equipment	—	766M	—	—	—	853M	—	—	—	1B	—	—
Goodwill & intangibles	16.4B	16.3B	16.1B	15.9B	15.9B	16B	16B	16.1B	16B	16.1B	15.9B	15.8B
Total assets	13.1B	13.4B	13.3B	13.3B	13.5B	13.5B	13.4B	13.8B	13.8B	14B	13.8B	13.9B
Accounts payable	364M	522M	426M	405M	455M	389M	427M	449M	395M	388M	407M	426M
Short-term debt	30M	30M	30M	30M	30M	40M	40M	28M	28M	39M	39M	43M
Total current liabilities	1.4B	1.6B	1.6B	1.7B	1.8B	1.7B	1.7B	1.8B	1.9B	1.9B	1.8B	1.9B
Long-term debt	4.4B	4.5B	4.6B	4.6B	4.6B	4.7B	4.8B	4.9B	4.9B	5B	5B	5.1B
Total liabilities	6.2B	6.5B	6.6B	6.7B	6.9B	6.9B	7B	7.3B	7.3B	7.5B	7.3B	7.4B
Shareholders' equity	6.9B	6.9B	6.7B	6.6B	6.7B	6.5B	6.4B	6.5B	6.5B	6.5B	6.5B	6.4B
Total debt	4.5B	4.6B	4.6B	4.6B	4.6B	4.8B	4.8B	5B	5B	5.1B	5.1B	5.1B
Net debt	4.1B	4.2B	4.3B	4.3B	4.3B	4.5B	4.6B	4.7B	4.6B	4.7B	4.8B	4.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	719M	303M	-17M	193M	15M	-248M	-305M	-352M
Depreciation & amortization	495M	469M	442M	415M	379M	382M	436M	421M
Stock-based compensation	43M	50M	50M	62M	62M	74M	92M	149M
Change in working capital	-35M	-34M	-99M	41M	-12M	-140M	-248M	-2M
Operating cash flow	732M	759M	470M	825M	339M	110M	48M	283M
Capital expenditure	-101M	-180M	-253M	-193M	-175M	-181M	-291M	—
Investing cash flow	-74M	-186M	-250M	-214M	-215M	-2.1B	-425M	-118M
Dividends paid	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—
Financing cash flow	-665M	-606M	-232M	-712M	81M	2.1B	178M	225M
Net change in cash	-7M	-33M	-12M	-101M	205M	66M	-199M	390M
Free cash flow	662M	619M	263M	680M	170M	-198M	-59M	-66M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-80M	-51M	-163M	-148M	8M	-2M	-211M	-58M	-25M	-58M	-70M	-10M
Depreciation & amortization	82M	116M	110M	110M	110M	106M	106M	107M	109M	99M	101M	102M
Stock-based compensation	16M	16M	19M	22M	24M	27M	28M	30M	27M	64M	34M	38M
Change in working capital	-16M	29M	-108M	-32M	104M	-212M	11M	49M	42M	-104M	-8M	6M
Operating cash flow	31M	138M	-76M	-15M	156M	-17M	-32M	26M	137M	136M	32M	153M
Capital expenditure	-33M	-84M	-67M	-72M	-60M	-92M	-110M	-89M	—	—	—	—
Investing cash flow	-1.9B	-135M	-63M	-74M	-103M	-185M	-122M	-90M	0	-112M	-35M	-16M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	1.8B	86M	12M	40M	-20M	146M	31M	90M	-12M	116M	-22M	34M
Net change in cash	-47M	89M	-127M	-49M	33M	-56M	-123M	26M	125M	140M	-25M	171M
Free cash flow	15M	-69M	-26M	-57M	94M	-70M	-135M	-54M	63M	60M	-68M	82M

Bausch + Lomb Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement