(BHC) Bausch Health Companies - Overview
Stock: Gastroenterology, Dermatology, Neurology, Ophthalmology, Aesthetics
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 56.1% |
| Relative Tail Risk | -13.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.02 |
| Alpha | -34.41 |
| Character TTM | |
|---|---|
| Beta | 0.902 |
| Beta Downside | 1.578 |
| Drawdowns 3y | |
|---|---|
| Max DD | 59.28% |
| CAGR/Max DD | -0.11 |
Description: BHC Bausch Health Companies January 14, 2026
Bausch Health Companies Inc. (NYSE:BHC) is a diversified specialty pharma and medical-device firm headquartered in Laval, Canada. It markets products across gastroenterology, hepatology, neurology, dermatology, generic and OTC drugs, aesthetic devices, and eye-care. The business is organized into five reporting segments: Salix (GI therapeutics), International (branded, generic, OTC, and aesthetic devices outside the U.S.), Solta Medical (aesthetic devices), Diversified (neurology, dermatology, generic, and dental products), and Bausch + Lomb (vision-care, ophthalmic surgery, and pharma). The company rebranded from Valeant Pharmaceuticals in July 2018.
According to the FY 2023 Form 10-K, BHC generated $2.5 billion in total revenue, with the Salix segment contributing roughly 30 % and Bausch + Lomb about 25 %. The firm carries a net debt of $5.2 billion, yielding a debt-to-EBITDA ratio near 4.0×-a level that exceeds the industry median of ~2.5× and may constrain cash-flow flexibility. Free cash flow turned positive in Q4 2023 after a multi-year deficit, driven by higher margins on specialty GI drugs and incremental sales of vision-care lenses, which benefit from an aging-population tailwind and rising myopia prevalence worldwide. However, the company’s exposure to generic pricing pressure and ongoing litigation risk adds downside uncertainty.
Given the mixed balance-sheet profile and sector dynamics-particularly strong growth in aesthetic procedures and vision-care demand-investors should closely monitor pipeline progress in the GI franchise and the execution of cost-containment initiatives. For a deeper quantitative view, the ValueRay platform offers a granular breakdown of BHC’s valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 362.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 0.25 > 1.0 |
| NWC/Revenue: 14.50% < 20% (prev 8.92%; Δ 5.58% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.51b > Net Income 362.0m |
| Net Debt (19.68b) to EBITDA (3.20b): 6.15 < 3 |
| Current Ratio: 1.30 > 1.5 & < 3 |
| Outstanding Shares: last quarter (375.5m) vs 12m ago 1.93% < -2% |
| Gross Margin: 70.67% > 18% (prev 0.71%; Δ 6996 % > 0.5%) |
| Asset Turnover: 37.61% > 50% (prev 35.70%; Δ 1.91% > 0%) |
| Interest Coverage Ratio: 1.28 > 6 (EBITDA TTM 3.20b / Interest Expense TTM 1.54b) |
Altman Z'' -0.34
| A: 0.05 (Total Current Assets 6.24b - Total Current Liabilities 4.79b) / Total Assets 26.80b |
| B: -0.36 (Retained Earnings -9.55b / Total Assets 26.80b) |
| C: 0.07 (EBIT TTM 1.98b / Avg Total Assets 26.67b) |
| D: -0.03 (Book Value of Equity -839.2m / Total Liabilities 26.44b) |
| Altman-Z'' Score: -0.34 = B |
Beneish M -2.98
| DSRI: 1.09 (Receivables 2.41b/2.09b, Revenue 10.03b/9.47b) |
| GMI: 1.00 (GM 70.67% / 70.87%) |
| AQI: 0.95 (AQ_t 0.69 / AQ_t-1 0.73) |
| SGI: 1.06 (Revenue 10.03b / 9.47b) |
| TATA: -0.04 (NI 362.0m - CFO 1.51b) / TA 26.80b) |
| Beneish M-Score: -2.98 (Cap -4..+1) = A |
What is the price of BHC shares?
Over the past week, the price has changed by +2.44%, over one month by -22.94%, over three months by -12.11% and over the past year by -10.09%.
Is BHC a buy, sell or hold?
- StrongBuy: 0
- Buy: 1
- Hold: 5
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the BHC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7.4 | 26.4% |
| Analysts Target Price | 7.4 | 26.4% |
| ValueRay Target Price | 5.6 | -4.3% |
BHC Fundamental Data Overview February 03, 2026
P/E Forward = 1.2958
P/S = 0.2123
P/B = 18.7773
P/EG = 0.6315
Revenue TTM = 10.03b USD
EBIT TTM = 1.98b USD
EBITDA TTM = 3.20b USD
Long Term Debt = 20.46b USD (from longTermDebt, last quarter)
Short Term Debt = 578.4m USD (from shortTermDebt, last quarter)
Debt = 21.02b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 19.68b USD (from netDebt column, last quarter)
Enterprise Value = 21.84b USD (2.13b + Debt 21.02b - CCE 1.31b)
Interest Coverage Ratio = 1.28 (Ebit TTM 1.98b / Interest Expense TTM 1.54b)
EV/FCF = 20.13x (Enterprise Value 21.84b / FCF TTM 1.08b)
FCF Yield = 4.97% (FCF TTM 1.08b / Enterprise Value 21.84b)
FCF Margin = 10.82% (FCF TTM 1.08b / Revenue TTM 10.03b)
Net Margin = 3.61% (Net Income TTM 362.0m / Revenue TTM 10.03b)
Gross Margin = 70.67% ((Revenue TTM 10.03b - Cost of Revenue TTM 2.94b) / Revenue TTM)
Gross Margin QoQ = 72.03% (prev 69.80%)
Tobins Q-Ratio = 0.82 (Enterprise Value 21.84b / Total Assets 26.80b)
Interest Expense / Debt = 1.96% (Interest Expense 412.0m / Debt 21.02b)
Taxrate = 16.97% (37.0m / 218.0m)
NOPAT = 1.64b (EBIT 1.98b * (1 - 16.97%))
Current Ratio = 1.30 (Total Current Assets 6.24b / Total Current Liabilities 4.79b)
Debt / Equity = -37.24 (negative equity) (Debt 21.02b / totalStockholderEquity, last quarter -564.4m)
Debt / EBITDA = 6.15 (Net Debt 19.68b / EBITDA 3.20b)
Debt / FCF = 18.14 (Net Debt 19.68b / FCF TTM 1.08b)
Total Stockholder Equity = -947.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.36% (Net Income 362.0m / Total Assets 26.80b)
RoE = -38.20% (negative equity) (Net Income TTM 362.0m / Total Stockholder Equity -947.6m)
RoCE = 10.14% (EBIT 1.98b / Capital Employed (Equity -947.6m + L.T.Debt 20.46b))
RoIC = 8.00% (NOPAT 1.64b / Invested Capital 20.53b)
WACC = 2.33% (E(2.13b)/V(23.15b) * Re(9.24%) + D(21.02b)/V(23.15b) * Rd(1.96%) * (1-Tc(0.17)))
Discount Rate = 9.24% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.39%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈1.05b ; Y1≈691.8m ; Y5≈315.6m
Fair Price DCF = N/A (negative equity: EV 10.06b - Net Debt 19.68b = -9.63b; debt exceeds intrinsic value)
EPS Correlation: -25.95 | EPS CAGR: -46.98% | SUE: -3.46 | # QB: 0
Revenue Correlation: 82.43 | Revenue CAGR: 5.47% | SUE: 1.07 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.72 | Chg30d=+0.017 | Revisions Net=+1 | Analysts=5
EPS next Year (2026-12-31): EPS=4.20 | Chg30d=+0.005 | Revisions Net=+1 | Growth EPS=+7.6% | Growth Revenue=+3.4%