What is Bausch + Lomb's operating income?

Bausch + Lomb's total operating income in 2025 was $113 million, based on the following breakdown: Total Gross Profit: $3.05 billion Total Operating Expenses: $2.94 billion

Bausch + Lomb (BLCO) Financials

$17.04 +0.06 (+0.34%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$17.04 +0.00 (+0.01%)

As of 08/14/2026 07:34 PM Eastern

Compare

Annual Income Statements for Bausch + Lomb

This table shows Bausch + Lomb's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-18	182	6.00	-260	-317	-360
Consolidated Net Income / (Loss)	-17	193	15	-248	-305	-352
Net Income / (Loss) Continuing Operations	-17	193	15	-248	-305	-352
Total Pre-Tax Income	290	318	73	-166	-234	-317
Total Operating Income	260	329	207	130	162	113
Total Gross Profit	2,127	2,298	2,249	2,504	2,919	3,051
Total Revenue	3,412	3,765	3,768	4,146	4,791	5,101
Operating Revenue	3,412	3,765	3,768	4,146	4,791	5,101
Total Cost of Revenue	1,285	1,467	1,519	1,642	1,872	2,050
Operating Cost of Revenue	1,285	1,467	1,519	1,642	1,872	2,050
Total Operating Expenses	1,867	1,969	2,042	2,374	2,757	2,938
Selling, General & Admin Expense	1,253	1,389	1,478	1,736	2,082	2,234
Research & Development Expense	253	271	307	324	343	371
Amortization Expense	323	292	244	240	288	258
Other Operating Expenses / (Income)	38	17	13	74	44	75
Total Other Income / (Expense), net	30	-11	-134	-296	-396	-430
Interest Expense	0.00	0.00	146	283	399	427
Interest & Investment Income	3.00	0.00	6.00	15	15	12
Other Income / (Expense), net	27	-11	6.00	-28	-12	-15
Income Tax Expense	307	125	58	82	71	35
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	11	9.00	12	12	8.00
Basic Earnings per Share	($0.05)	$0.52	$0.02	($0.74)	($0.90)	($1.02)
Weighted Average Basic Shares Outstanding	350M	350M	350M	350.50M	351.80M	353.80M
Diluted Earnings per Share	($0.05)	$0.52	$0.02	($0.74)	($0.90)	($1.02)
Weighted Average Diluted Shares Outstanding	350M	350M	350.20M	350.50M	351.80M	353.80M
Weighted Average Basic & Diluted Shares Outstanding	-	-	350.00M	350.99M	352.47M	354.32M

This table shows Bausch + Lomb's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-54	-167	-151	4.00	-3.00	-212	-62	-28	-58	-71	-14
Consolidated Net Income / (Loss)	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70	-10
Net Income / (Loss) Continuing Operations	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70	-10
Total Pre-Tax Income	-57	-90	-76	-58	-10	-180	-147	-3.00	13	-64	-11
Total Operating Income	49	6.00	26	43	87	-83	-11	95	112	33	83
Total Gross Profit	712	675	733	732	779	655	753	771	872	761	867
Total Revenue	1,173	1,099	1,216	1,196	1,280	1,137	1,278	1,281	1,405	1,244	1,394
Operating Revenue	1,173	1,099	1,216	1,196	1,280	1,137	1,278	1,281	1,405	1,244	1,394
Total Cost of Revenue	461	424	483	464	501	482	525	510	533	483	527
Operating Cost of Revenue	461	424	483	464	501	482	525	510	533	483	527
Total Operating Expenses	663	669	707	689	692	738	764	676	760	728	784
Selling, General & Admin Expense	483	504	535	511	532	563	579	528	564	544	588
Research & Development Expense	80	82	84	84	93	86	96	95	94	101	114
Amortization Expense	80	74	74	72	68	67	67	68	56	57	57
Other Operating Expenses / (Income)	20	9.00	14	22	-1.00	22	22	-15	46	26	25
Total Other Income / (Expense), net	-106	-96	-102	-101	-97	-97	-136	-98	-99	-97	-94
Interest Expense	99	99	102	100	98	94	137	98	98	98	93
Interest & Investment Income	3.00	3.00	3.00	4.00	5.00	3.00	3.00	3.00	3.00	4.00	4.00
Other Income / (Expense), net	-10	0.00	-3.00	-5.00	-4.00	-6.00	-2.00	-3.00	-4.00	-3.00	-5.00
Income Tax Expense	-6.00	73	72	-66	-8.00	31	-89	22	71	6.00	-1.00
Net Income / (Loss) Attributable to Noncontrolling Interest	3.00	4.00	3.00	4.00	1.00	1.00	4.00	3.00	-	1.00	4.00
Basic Earnings per Share	($0.15)	($0.48)	($0.43)	$0.01	-	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)	($0.04)
Weighted Average Basic Shares Outstanding	350.50M	351.10M	351.80M	351.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M	357.10M
Diluted Earnings per Share	($0.15)	($0.48)	($0.43)	$0.01	-	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)	($0.04)
Weighted Average Diluted Shares Outstanding	350.50M	351.10M	351.80M	353.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M	357.10M
Weighted Average Basic & Diluted Shares Outstanding	350.99M	351.48M	351.90M	352.16M	352.47M	353.40M	353.87M	354.19M	354.32M	356.54M	357.17M

This table details how cash moves in and out of Bausch + Lomb's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	46	-61	203	-46	-18	81
Net Cash From Operating Activities	522	873	345	-17	232	283
Net Cash From Continuing Operating Activities	522	873	345	-17	232	283
Net Income / (Loss) Continuing Operations	-17	193	15	-248	-305	-352
Consolidated Net Income / (Loss)	-17	193	15	-248	-305	-352
Depreciation Expense	442	415	379	382	436	421
Amortization Expense	0.00	0.00	8.00	53	102	80
Non-Cash Adjustments To Reconcile Net Income	59	121	52	91	105	175
Changes in Operating Assets and Liabilities, net	38	144	-109	-295	-106	-41
Net Cash From Investing Activities	-256	-214	-215	-2,109	-412	-455
Net Cash From Continuing Investing Activities	-256	-214	-215	-2,109	-412	-455
Purchase of Property, Plant & Equipment	-253	-193	-175	-181	-291	-349
Purchase of Investments	-6.00	-35	-62	-1,958	-150	-133
Divestitures	-	0.00	0.00	1.00	2.00	7.00
Sale and/or Maturity of Investments	9.00	14	22	29	27	20
Net Cash From Financing Activities	-232	-712	81	2,078	178	225
Net Cash From Continuing Financing Activities	-232	-712	81	2,078	178	225
Repayment of Debt	0.00	0.00	-16	-179	-431	-3,108
Payment of Dividends	-7.00	-10	-11	-9.00	-10	-9.00
Issuance of Debt	0.00	28	2,471	2,276	631	3,357
Other Financing Activities, net	-225	-730	-2,363	-10	-12	-15
Effect of Exchange Rate Changes	12	-8.00	-8.00	2.00	-16	28

This table details how cash moves in and out of Bausch + Lomb's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-26	-9.00	-23	48	-34	-101	57	60	65	-118	99
Net Cash From Operating Activities	15	41	15	154	22	-25	35	137	136	32	153
Net Cash From Continuing Operating Activities	15	41	15	154	22	-25	35	137	136	32	153
Net Income / (Loss) Continuing Operations	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70	-10
Consolidated Net Income / (Loss)	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70	-10
Depreciation Expense	116	110	110	110	106	106	107	109	99	101	102
Amortization Expense	28	25	25	26	26	27	25	24	4.00	3.00	4.00
Non-Cash Adjustments To Reconcile Net Income	23	14	18	18	46	44	49	20	71	54	57
Net Cash From Investing Activities	-135	-57	-74	-96	-185	-116	-90	-61	-188	-130	-87
Net Cash From Continuing Investing Activities	-135	-57	-74	-96	-185	-116	-90	-61	-188	-130	-87
Purchase of Property, Plant & Equipment	-84	-67	-72	-60	-92	-110	-89	-74	-76	-100	-71
Purchase of Investments	-53	-3.00	-4.00	-47	-96	-16	-2.00	-1.00	-114	-39	-20
Sale and/or Maturity of Investments	2.00	12	1.00	11	3.00	10	1.00	7.00	2.00	6.00	4.00
Net Cash From Financing Activities	86	12	40	-20	146	31	90	-12	116	-20	34
Net Cash From Continuing Financing Activities	86	12	40	-20	146	31	90	-12	116	-20	34
Repayment of Debt	-9.00	-58	-7.00	-9.00	-357	-10	-3,070	-9.00	-19	-2,805	-35
Issuance of Debt	96	75	50	-	506	50	3,171	-	136	2,802	84
Other Financing Activities, net	-1.00	-5.00	-3.00	-1.00	-3.00	-9.00	-2.00	-3.00	-1.00	-17	-8.00
Effect of Exchange Rate Changes	8.00	-5.00	-4.00	10	-17	9.00	22	-4.00	1.00	0.00	-1.00

This table presents Bausch + Lomb's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	10,823	11,144	13,442	13,469	14,022
Total Current Assets	1,635	2,137	2,742	2,788	2,977
Cash & Equivalents	174	354	331	305	383
Restricted Cash	3.00	26	3.00	11	14
Accounts Receivable	721	724	839	1,026	1,221
Inventories, net	572	628	1,028	1,036	976
Prepaid Expenses	165	405	541	410	383
Plant, Property, & Equipment, net	1,225	1,300	1,390	1,485	1,762
Total Noncurrent Assets	7,963	7,707	9,310	9,196	9,283
Goodwill	4,586	4,507	4,575	4,523	4,758
Intangible Assets	2,264	2,058	3,589	3,494	3,281
Noncurrent Deferred & Refundable Income Taxes	933	927	921	885	934
Other Noncurrent Operating Assets	180	215	225	294	310
Total Liabilities & Shareholders' Equity	10,823	11,144	13,442	13,469	14,022
Total Liabilities	1,421	4,043	6,522	6,925	7,503
Total Current Liabilities	1,099	1,296	1,579	1,738	1,920
Short-Term Debt	0.00	25	30	40	39
Accounts Payable	239	370	522	389	388
Accrued Expenses	860	901	1,027	1,309	1,493
Total Noncurrent Liabilities	322	2,747	4,943	5,187	5,583
Long-Term Debt	0.00	2,411	4,532	4,744	5,043
Noncurrent Deferred & Payable Income Tax Liabilities	24	7.00	14	13	19
Other Noncurrent Operating Liabilities	298	329	397	430	521
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,402	7,101	6,920	6,544	6,519
Total Preferred & Common Equity	9,329	7,033	6,850	6,473	6,448
Total Common Equity	9,329	7,033	6,850	6,473	6,448
Common Stock	0.00	8,285	8,349	8,429	8,563
Retained Earnings	0.00	6.00	-254	-571	-931
Accumulated Other Comprehensive Income / (Loss)	-1,035	-1,258	-1,245	-1,385	-1,184
Noncontrolling Interest	73	68	70	71	71

This table presents Bausch + Lomb's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	11,169	11,315	13,068	13,293	13,250	13,515	13,428	13,832	13,832	13,780	13,859
Total Current Assets	2,184	2,315	2,464	2,743	2,769	2,828	2,694	2,846	2,855	2,776	2,922
Cash & Equivalents	346	384	355	315	285	329	202	266	310	268	367
Restricted Cash	12	8.00	5.00	10	17	21	13	6.00	22	11	11
Accounts Receivable	714	791	783	920	986	943	1,007	1,084	1,089	1,106	1,160
Inventories, net	697	699	754	1,073	1,069	1,119	1,031	1,051	1,005	977	999
Prepaid Expenses	415	433	567	425	412	416	441	439	429	414	385
Plant, Property, & Equipment, net	1,296	1,294	1,284	1,397	1,430	1,481	1,581	1,680	1,711	1,794	1,799
Total Noncurrent Assets	7,689	7,706	9,320	9,153	9,051	9,206	9,153	9,306	9,266	9,210	9,138
Goodwill	4,522	4,540	4,526	4,547	4,538	4,581	4,567	4,667	4,657	4,737	4,723
Intangible Assets	2,031	2,021	3,662	3,515	3,437	3,384	3,427	3,361	3,328	3,226	3,169
Noncurrent Deferred & Refundable Income Taxes	923	938	920	860	827	931	864	973	978	945	952
Other Noncurrent Operating Assets	213	207	212	231	249	310	295	305	303	302	294
Total Liabilities & Shareholders' Equity	11,169	11,315	13,068	13,293	13,250	13,515	13,428	13,832	13,832	13,780	13,859
Total Liabilities	4,117	4,285	6,185	6,564	6,670	6,854	6,995	7,324	7,332	7,328	7,415
Total Current Liabilities	1,254	1,325	1,386	1,617	1,676	1,801	1,726	1,840	1,896	1,820	1,890
Short-Term Debt	25	25	30	30	30	30	40	28	28	39	43
Accounts Payable	389	348	364	426	405	455	427	449	395	407	426
Accrued Expenses	840	952	992	1,161	1,241	1,316	1,259	1,363	1,473	1,374	1,421
Total Noncurrent Liabilities	2,863	2,960	4,799	4,947	4,994	5,053	5,269	5,484	5,436	5,508	5,525
Long-Term Debt	2,508	2,604	4,435	4,554	4,602	4,599	4,789	4,931	4,922	5,031	5,072
Noncurrent Deferred & Payable Income Tax Liabilities	14	14	11	14	14	12	13	14	14	19	18
Other Noncurrent Operating Liabilities	341	342	353	379	378	442	467	539	500	458	435
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,052	7,030	6,883	6,729	6,580	6,661	6,433	6,508	6,500	6,452	6,444
Total Preferred & Common Equity	6,983	6,958	6,817	6,659	6,504	6,589	6,361	6,440	6,429	6,379	6,376
Total Common Equity	6,983	6,958	6,817	6,659	6,504	6,589	6,361	6,440	6,429	6,379	6,376
Common Stock	8,305	8,321	8,334	8,363	8,382	8,405	8,448	8,476	8,500	8,580	8,610
Retained Earnings	-84	-116	-200	-421	-572	-568	-783	-845	-873	-1,002	-1,016
Accumulated Other Comprehensive Income / (Loss)	-1,238	-1,247	-1,317	-1,283	-1,306	-1,248	-1,304	-1,191	-1,198	-1,199	-1,218
Noncontrolling Interest	69	72	66	70	76	72	72	68	71	73	68

This table displays calculated financial ratios and metrics derived from Bausch + Lomb's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	10.35%	0.08%	10.03%	15.56%	6.47%
EBITDA Growth	0.00%	0.55%	-18.14%	-10.50%	28.12%	-12.94%
EBIT Growth	0.00%	10.80%	-33.02%	-52.11%	47.06%	-34.67%
NOPAT Growth	0.00%	1,410.09%	-78.70%	113.95%	24.62%	-30.25%
Net Income Growth	0.00%	1,235.29%	-92.23%	-1,753.33%	-22.98%	-15.41%
EPS Growth	0.00%	1,140.00%	-96.15%	-3,800.00%	-21.62%	-13.33%
Operating Cash Flow Growth	0.00%	67.24%	-60.48%	-104.93%	1,464.71%	21.98%
Free Cash Flow Firm Growth	0.00%	0.00%	101.22%	-1,818.92%	113.13%	-145.27%
Invested Capital Growth	0.00%	0.00%	-0.74%	21.74%	-1.22%	1.74%
Revenue Q/Q Growth	0.00%	0.00%	-0.13%	4.46%	2.28%	2.51%
EBITDA Q/Q Growth	0.00%	0.00%	-7.41%	9.15%	4.88%	-0.66%
EBIT Q/Q Growth	0.00%	0.00%	-17.12%	-2.86%	41.51%	34.25%
NOPAT Q/Q Growth	0.00%	0.00%	-59.98%	-1.52%	30.65%	28.41%
Net Income Q/Q Growth	0.00%	0.00%	-78.26%	-25.89%	13.84%	-18.92%
EPS Q/Q Growth	0.00%	0.00%	-87.50%	-25.42%	14.29%	-18.60%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-0.86%	-113.39%	3.11%	67.46%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	3.04%	85.01%	3.01%
Invested Capital Q/Q Growth	0.00%	0.00%	2.47%	1.46%	0.66%	0.77%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	62.34%	61.04%	59.69%	60.40%	60.93%	59.81%
EBITDA Margin	21.37%	19.47%	15.92%	12.95%	14.36%	11.74%
Operating Margin	7.62%	8.74%	5.49%	3.14%	3.38%	2.22%
EBIT Margin	8.41%	8.45%	5.65%	2.46%	3.13%	1.92%
Profit (Net Income) Margin	-0.50%	5.13%	0.40%	-5.98%	-6.37%	-6.90%
Tax Burden Percent	-5.86%	60.69%	20.55%	149.40%	130.34%	111.04%
Interest Burden Percent	101.05%	100.00%	34.27%	-162.75%	-156.00%	-323.47%
Effective Tax Rate	105.86%	39.31%	79.45%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	4.33%	0.46%	0.90%	1.02%	0.71%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	11.87%	-2.47%	-9.89%	-8.60%	-8.71%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.22%	-0.28%	-4.43%	-5.55%	-6.10%
Return on Equity (ROE)	0.00%	4.11%	0.18%	-3.54%	-4.53%	-5.39%
Cash Return on Invested Capital (CROIC)	0.00%	-195.67%	1.20%	-18.71%	2.25%	-1.02%
Operating Return on Assets (OROA)	0.00%	2.94%	1.94%	0.83%	1.11%	0.71%
Return on Assets (ROA)	0.00%	1.78%	0.14%	-2.02%	-2.27%	-2.56%
Return on Common Equity (ROCE)	0.00%	4.07%	0.18%	-3.50%	-4.48%	-5.33%
Return on Equity Simple (ROE_SIMPLE)	0.00%	2.07%	0.21%	-3.62%	-4.71%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	200	43	91	113	79
NOPAT Margin	-0.45%	5.30%	1.13%	2.19%	2.37%	1.55%
Net Nonoperating Expense Percent (NNEP)	0.00%	-7.54%	2.93%	10.79%	9.62%	9.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-	0.45%	0.79%	1.00%	0.68%
Cost of Revenue to Revenue	37.66%	38.96%	40.31%	39.60%	39.07%	40.19%
SG&A Expenses to Revenue	36.72%	36.89%	39.23%	41.87%	43.46%	43.80%
R&D to Revenue	7.42%	7.20%	8.15%	7.81%	7.16%	7.27%
Operating Expenses to Revenue	54.72%	52.30%	54.19%	57.26%	57.55%	57.60%
Earnings before Interest and Taxes (EBIT)	287	318	213	102	150	98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	729	733	600	537	688	599
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.07	0.77	0.87	0.98	0.94
Price to Tangible Book Value (P/TBV)	0.00	0.25	11.60	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.18	0.17	1.44	1.44	1.33	1.19
Price to Earnings (P/E)	0.00	3.46	904.75	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	28.89%	0.11%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.06	0.82	0.92	0.99	0.96
Enterprise Value to Revenue (EV/Rev)	0.00	0.14	2.00	2.48	2.27	2.12
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.72	12.59	19.15	15.84	18.04
Enterprise Value to EBIT (EV/EBIT)	0.00	1.65	35.46	100.82	72.66	110.26
Enterprise Value to NOPAT (EV/NOPAT)	0.00	2.63	177.56	113.01	96.11	136.61
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.60	21.89	0.00	46.98	38.18
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	68.33	0.00	43.70	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.34	0.66	0.73	0.78
Long-Term Debt to Equity	0.00	0.00	0.34	0.65	0.72	0.77
Financial Leverage	0.00	-0.02	0.11	0.45	0.65	0.70
Leverage Ratio	0.00	1.15	1.33	1.75	2.00	2.10
Compound Leverage Factor	0.00	1.15	0.46	-2.85	-3.12	-6.81
Debt to Total Capital	0.00%	0.00%	25.54%	39.73%	42.23%	43.81%
Short-Term Debt to Total Capital	0.00%	0.00%	0.26%	0.26%	0.35%	0.34%
Long-Term Debt to Total Capital	0.00%	0.00%	25.28%	39.47%	41.88%	43.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.78%	0.71%	0.61%	0.63%	0.61%
Common Equity to Total Capital	0.00%	99.22%	73.74%	59.66%	57.14%	55.58%
Debt to EBITDA	0.00	0.00	4.06	8.50	6.95	8.48
Net Debt to EBITDA	0.00	0.00	3.43	7.87	6.49	7.82
Long-Term Debt to EBITDA	0.00	0.00	4.02	8.44	6.90	8.42
Debt to NOPAT	0.00	0.00	57.27	50.13	42.19	64.25
Net Debt to NOPAT	0.00	0.00	48.34	46.46	39.40	59.23
Long-Term Debt to NOPAT	0.00	0.00	56.68	49.80	41.83	63.75
Altman Z-Score	0.00	0.77	1.30	0.96	0.98	0.87
Noncontrolling Interest Sharing Ratio	0.00%	0.78%	0.85%	0.98%	1.05%	1.09%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	1.49	1.65	1.74	1.60	1.55
Quick Ratio	0.00	0.81	0.83	0.74	0.77	0.84
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-9,025	111	-1,900	249	-113
Operating Cash Flow to CapEx	206.32%	452.33%	197.14%	-9.39%	79.73%	81.09%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.76	-6.71	0.63	-0.26
Operating Cash Flow to Interest Expense	0.00	0.00	2.36	-0.06	0.58	0.66
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	1.16	-0.70	-0.15	-0.15
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.35	0.34	0.34	0.36	0.37
Accounts Receivable Turnover	0.00	5.22	5.22	5.31	5.14	4.54
Inventory Turnover	0.00	2.56	2.53	1.98	1.81	2.04
Fixed Asset Turnover	0.00	3.07	2.98	3.08	3.33	3.14
Accounts Payable Turnover	0.00	6.14	4.99	3.68	4.11	5.28
Days Sales Outstanding (DSO)	0.00	69.90	69.99	68.80	71.04	80.39
Days Inventory Outstanding (DIO)	0.00	142.32	144.17	184.06	201.22	179.12
Days Payable Outstanding (DPO)	0.00	59.46	73.17	99.14	88.81	69.17
Cash Conversion Cycle (CCC)	0.00	152.75	140.99	153.72	183.45	190.34
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	9,225	9,157	11,148	11,012	11,204
Invested Capital Turnover	0.00	0.82	0.41	0.41	0.43	0.46
Increase / (Decrease) in Invested Capital	0.00	9,225	-68	1,991	-136	192
Enterprise Value (EV)	0.00	526	7,553	10,284	10,899	10,806
Market Capitalization	630	630	5,429	5,986	6,360	6,050
Book Value per Share	$0.00	$26.65	$20.09	$19.52	$18.38	$18.20
Tangible Book Value per Share	$0.00	$7.08	$1.34	($3.75)	($4.38)	($4.49)
Total Capital	0.00	9,402	9,537	11,482	11,328	11,601
Total Debt	0.00	0.00	2,436	4,562	4,784	5,082
Total Long-Term Debt	0.00	0.00	2,411	4,532	4,744	5,043
Net Debt	0.00	-177	2,056	4,228	4,468	4,685
Capital Expenditures (CapEx)	253	193	175	181	291	349
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	359	486	859	774	699
Debt-free Net Working Capital (DFNWC)	0.00	536	866	1,193	1,090	1,096
Net Working Capital (NWC)	0.00	536	841	1,163	1,050	1,057
Net Nonoperating Expense (NNE)	1.76	6.68	28	339	418	431
Net Nonoperating Obligations (NNO)	0.00	-177	2,056	4,228	4,468	4,685
Total Depreciation and Amortization (D&A)	442	415	387	435	538	501
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	9.54%	12.90%	20.72%	16.16%	13.70%
Debt-free Net Working Capital to Revenue	0.00%	14.24%	22.98%	28.77%	22.75%	21.49%
Net Working Capital to Revenue	0.00%	14.24%	22.32%	28.05%	21.92%	20.72%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.02	($0.74)	($0.90)	($1.02)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	350M	350.50M	351.80M	353.80M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.02	($0.74)	($0.90)	($1.02)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	350.20M	350.50M	351.80M	353.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	350.00M	350.99M	352.47M	354.32M
Normalized Net Operating Profit after Tax (NOPAT)	182	200	145	91	113	79
Normalized NOPAT Margin	5.33%	5.30%	3.85%	2.19%	2.37%	1.55%
Pre Tax Income Margin	8.50%	8.45%	1.94%	-4.00%	-4.88%	-6.21%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	1.46	0.36	0.38	0.23
NOPAT to Interest Expense	0.00	0.00	0.29	0.32	0.28	0.19
EBIT Less CapEx to Interest Expense	0.00	0.00	0.26	-0.28	-0.35	-0.59
NOPAT Less CapEx to Interest Expense	0.00	0.00	-0.91	-0.32	-0.45	-0.63
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	-41.18%	5.18%	73.33%	-3.63%	-3.28%	-2.56%
Augmented Payout Ratio	-41.18%	5.18%	73.33%	-3.63%	-3.28%	-2.56%

This table displays calculated financial ratios and metrics derived from Bausch + Lomb's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	354,318,198.00	356,536,358.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	354,318,198.00	356,536,358.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.20	-0.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.77%	18.05%	17.49%	18.77%	9.12%	3.46%	5.10%	7.11%	9.77%	9.41%	9.08%
EBITDA Growth	32.61%	63.95%	21.54%	26.09%	17.49%	-68.79%	-24.68%	29.31%	-1.86%	204.55%	54.62%
EBIT Growth	-7.14%	175.00%	-32.35%	2.70%	112.82%	-1,583.33%	-156.52%	142.11%	30.12%	133.71%	700.00%
NOPAT Growth	-3.92%	400.00%	-39.53%	7.50%	77.55%	-1,483.33%	-142.31%	120.93%	-920.51%	139.76%	854.55%
Net Income Growth	0.00%	-85.23%	-410.34%	110.00%	96.08%	-29.45%	60.81%	-412.50%	-2,800.00%	66.82%	82.76%
EPS Growth	0.00%	-84.62%	-377.78%	104.17%	0.00%	-25.00%	58.14%	-900.00%	0.00%	66.67%	77.78%
Operating Cash Flow Growth	-90.57%	173.21%	162.50%	220.83%	46.67%	-160.98%	133.33%	-11.04%	518.18%	228.00%	337.14%
Free Cash Flow Firm Growth	-1,986.89%	-10,081.82%	-502.00%	103.86%	110.06%	93.33%	81.99%	-242.77%	-451.29%	-47.65%	124.63%
Invested Capital Growth	21.74%	19.09%	17.73%	-0.44%	-1.22%	0.54%	2.61%	1.63%	1.74%	1.77%	-0.13%
Revenue Q/Q Growth	16.48%	-6.31%	10.65%	-1.64%	7.02%	-11.17%	12.40%	0.23%	9.68%	-11.46%	12.06%
EBITDA Q/Q Growth	32.61%	-22.95%	12.06%	10.13%	23.56%	-79.53%	170.45%	89.08%	-6.22%	-36.49%	37.31%
EBIT Q/Q Growth	5.41%	-84.62%	283.33%	65.22%	118.42%	-207.23%	85.39%	807.69%	17.39%	-72.22%	160.00%
NOPAT Q/Q Growth	22.50%	-87.76%	333.33%	65.38%	102.33%	-195.40%	86.75%	963.64%	-851.42%	104.62%	151.52%
Net Income Q/Q Growth	36.25%	-219.61%	9.20%	105.41%	-125.00%	-10,450.00%	72.51%	56.90%	-132.00%	-20.69%	85.71%
EPS Q/Q Growth	37.50%	-220.00%	10.42%	102.33%	0.00%	0.00%	70.00%	55.56%	-100.00%	-25.00%	80.00%
Operating Cash Flow Q/Q Growth	-68.75%	173.33%	-63.41%	926.67%	-85.71%	-213.64%	240.00%	291.43%	-0.73%	-76.47%	378.13%
Free Cash Flow Firm Q/Q Growth	3.33%	10.22%	7.51%	104.81%	152.11%	-159.47%	-149.96%	61.91%	-520.35%	75.00%	141.70%
Invested Capital Q/Q Growth	1.46%	-1.44%	-0.71%	0.28%	0.66%	0.32%	1.34%	-0.69%	0.77%	0.35%	-0.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	60.70%	61.42%	60.28%	61.20%	60.86%	57.61%	58.92%	60.19%	62.06%	61.17%	62.20%
EBITDA Margin	15.60%	12.83%	12.99%	14.55%	16.80%	3.87%	9.31%	17.56%	15.02%	10.77%	13.20%
Operating Margin	4.18%	0.55%	2.14%	3.60%	6.80%	-7.30%	-0.86%	7.42%	7.97%	2.65%	5.95%
EBIT Margin	3.32%	0.55%	1.89%	3.18%	6.48%	-7.83%	-1.02%	7.18%	7.69%	2.41%	5.60%
Profit (Net Income) Margin	-4.35%	-14.83%	-12.17%	0.67%	-0.16%	-18.56%	-4.54%	-1.95%	-4.13%	-5.63%	-0.72%
Tax Burden Percent	89.47%	181.11%	194.74%	-13.79%	20.00%	117.22%	39.46%	833.33%	-446.15%	109.38%	90.91%
Interest Burden Percent	-146.15%	-1,500.00%	-330.43%	-152.63%	-12.05%	202.25%	1,130.77%	-3.26%	12.04%	-213.33%	-14.10%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	546.15%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.19%	0.16%	0.67%	1.08%	2.06%	-2.24%	-0.27%	2.34%	-16.33%	0.87%	1.98%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.52%	-5.03%	-4.39%	0.55%	0.61%	-5.69%	-1.38%	0.29%	-6.68%	-1.11%	0.54%
Return on Net Nonoperating Assets (RNNOA)	-0.68%	-2.35%	-2.12%	0.34%	0.39%	-3.83%	-0.95%	0.19%	-4.68%	-0.81%	0.39%
Return on Equity (ROE)	0.51%	-2.19%	-1.45%	1.41%	2.45%	-6.07%	-1.22%	2.54%	-21.01%	0.06%	2.37%
Cash Return on Invested Capital (CROIC)	-18.71%	-16.47%	-15.45%	1.23%	2.25%	-0.07%	-2.35%	-1.06%	-1.02%	-0.32%	2.15%
Operating Return on Assets (OROA)	1.12%	0.19%	0.69%	1.12%	2.31%	-2.83%	-0.37%	2.61%	2.85%	0.92%	2.15%
Return on Assets (ROA)	-1.47%	-5.23%	-4.45%	0.24%	-0.06%	-6.71%	-1.64%	-0.71%	-1.53%	-2.15%	-0.28%
Return on Common Equity (ROCE)	0.51%	-2.17%	-1.44%	1.40%	2.43%	-6.01%	-1.21%	2.51%	-20.79%	0.06%	2.35%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-4.85%	-6.80%	-5.37%	0.00%	-5.55%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	34	4.20	18	30	61	-58	-7.70	67	-500	23	58
NOPAT Margin	2.92%	0.38%	1.50%	2.52%	4.76%	-5.11%	-0.60%	5.19%	-35.57%	1.86%	4.17%
Net Nonoperating Expense Percent (NNEP)	2.71%	5.20%	5.06%	0.53%	1.45%	3.45%	1.12%	2.06%	-9.65%	1.98%	1.45%
Return On Investment Capital (ROIC_SIMPLE)	0.30%	-	-	-	0.54%	-0.52%	-0.07%	0.58%	-4.31%	0.20%	0.50%
Cost of Revenue to Revenue	39.30%	38.58%	39.72%	38.80%	39.14%	42.39%	41.08%	39.81%	37.94%	38.83%	37.80%
SG&A Expenses to Revenue	41.18%	45.86%	44.00%	42.73%	41.56%	49.52%	45.31%	41.22%	40.14%	43.73%	42.18%
R&D to Revenue	6.82%	7.46%	6.91%	7.02%	7.27%	7.56%	7.51%	7.42%	6.69%	8.12%	8.18%
Operating Expenses to Revenue	56.52%	60.87%	58.14%	57.61%	54.06%	64.91%	59.78%	52.77%	54.09%	58.52%	56.24%
Earnings before Interest and Taxes (EBIT)	39	6.00	23	38	83	-89	-13	92	108	30	78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	183	141	158	174	215	44	119	225	211	134	184
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.87	0.91	0.78	1.03	0.98	0.80	0.71	0.83	0.94	0.88	0.93
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.44	1.41	1.14	1.45	1.33	1.06	0.94	1.07	1.19	1.08	1.11
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.92	0.95	0.87	1.02	0.99	0.89	0.84	0.90	0.96	0.93	0.96
Enterprise Value to Revenue (EV/Rev)	2.48	2.41	2.12	2.38	2.27	2.03	1.91	2.01	2.12	2.02	2.01
Enterprise Value to EBITDA (EV/EBITDA)	19.15	17.57	15.34	16.98	15.84	16.58	16.94	16.62	18.04	15.24	14.20
Enterprise Value to EBIT (EV/EBIT)	100.82	89.64	90.57	105.09	72.66	178.12	492.25	137.28	110.26	48.38	34.77
Enterprise Value to NOPAT (EV/NOPAT)	113.01	107.65	112.27	128.33	96.11	191.72	371.14	162.69	136.61	65.49	47.37
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	129.99	79.91	49.51	46.98	59.02	50.28	59.30	38.18	30.88	23.38
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	82.63	43.70	0.00	0.00	0.00	0.00	0.00	44.60
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.68	0.70	0.69	0.73	0.75	0.76	0.76	0.78	0.79	0.79
Long-Term Debt to Equity	0.65	0.68	0.70	0.69	0.72	0.74	0.76	0.76	0.77	0.78	0.79
Financial Leverage	0.45	0.47	0.48	0.62	0.65	0.67	0.69	0.68	0.70	0.73	0.73
Leverage Ratio	1.75	1.78	1.80	1.96	2.00	2.03	2.07	2.08	2.10	2.11	2.14
Compound Leverage Factor	-2.56	-26.63	-5.96	-3.00	-0.24	4.11	23.40	-0.07	0.25	-4.50	-0.30
Debt to Total Capital	39.73%	40.52%	41.31%	41.00%	42.23%	42.88%	43.25%	43.23%	43.81%	44.00%	44.25%
Short-Term Debt to Total Capital	0.26%	0.27%	0.27%	0.27%	0.35%	0.36%	0.24%	0.24%	0.34%	0.34%	0.37%
Long-Term Debt to Total Capital	39.47%	40.25%	41.05%	40.74%	41.88%	42.52%	43.00%	42.99%	43.47%	43.66%	43.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.61%	0.62%	0.68%	0.64%	0.63%	0.64%	0.59%	0.62%	0.61%	0.63%	0.59%
Common Equity to Total Capital	59.66%	58.86%	58.01%	58.36%	57.14%	56.48%	56.16%	56.15%	55.58%	55.36%	55.16%
Debt to EBITDA	8.50	7.74	7.47	7.06	6.95	8.17	8.98	8.21	8.48	7.36	6.78
Net Debt to EBITDA	7.87	7.19	6.98	6.52	6.49	7.81	8.49	7.66	7.82	6.95	6.28
Long-Term Debt to EBITDA	8.44	7.69	7.42	7.01	6.90	8.10	8.93	8.16	8.42	7.30	6.73
Debt to NOPAT	50.13	47.45	54.69	53.33	42.19	94.50	196.79	80.36	64.25	31.63	22.62
Net Debt to NOPAT	46.46	44.09	51.12	49.30	39.40	90.29	185.99	74.97	59.23	29.89	20.95
Long-Term Debt to NOPAT	49.80	47.14	54.33	52.98	41.83	93.72	195.67	79.90	63.75	31.38	22.43
Altman Z-Score	0.95	0.94	0.84	0.98	0.96	0.78	0.73	0.81	0.87	0.83	0.87
Noncontrolling Interest Sharing Ratio	0.98%	1.01%	1.09%	1.02%	1.05%	1.08%	1.10%	1.09%	1.09%	1.13%	1.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.70	1.65	1.57	1.60	1.56	1.55	1.51	1.55	1.53	1.55
Quick Ratio	0.74	0.76	0.76	0.71	0.77	0.70	0.73	0.74	0.84	0.75	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,957	-1,757	-1,625	78	197	-117	-293	-112	-692	-173	72
Operating Cash Flow to CapEx	17.86%	61.19%	20.83%	256.67%	23.91%	-22.73%	39.33%	185.14%	178.95%	32.00%	215.49%
Free Cash Flow to Firm to Interest Expense	-19.76	-17.75	-15.93	0.78	2.01	-1.25	-2.14	-1.14	-7.06	-1.76	0.78
Operating Cash Flow to Interest Expense	0.15	0.41	0.15	1.54	0.22	-0.27	0.26	1.40	1.39	0.33	1.65
Operating Cash Flow Less CapEx to Interest Expense	-0.70	-0.26	-0.56	0.94	-0.71	-1.44	-0.39	0.64	0.61	-0.69	0.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.35	0.37	0.35	0.36	0.36	0.36	0.36	0.37	0.38	0.38
Accounts Receivable Turnover	5.31	5.28	5.06	5.43	5.14	5.01	4.73	4.90	4.54	4.93	4.75
Inventory Turnover	1.98	1.91	1.99	1.96	1.81	1.83	1.86	1.90	2.04	2.04	2.00
Fixed Asset Turnover	3.08	3.20	3.30	3.39	3.33	3.24	3.15	3.12	3.14	3.09	3.06
Accounts Payable Turnover	3.68	4.16	4.67	4.47	4.11	4.53	4.62	4.75	5.28	4.92	4.69
Days Sales Outstanding (DSO)	68.80	69.12	72.15	67.25	71.04	72.83	77.24	74.53	80.39	74.04	76.92
Days Inventory Outstanding (DIO)	184.06	190.69	183.33	186.58	201.22	198.95	196.20	192.09	179.12	178.67	182.23
Days Payable Outstanding (DPO)	99.14	87.80	78.08	81.59	88.81	80.66	79.03	76.87	69.17	74.21	77.78
Cash Conversion Cycle (CCC)	153.72	172.01	177.40	172.25	183.45	191.12	194.40	189.74	190.34	178.51	181.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,148	10,988	10,910	10,940	11,012	11,047	11,195	11,118	11,204	11,243	11,181
Invested Capital Turnover	0.41	0.43	0.45	0.43	0.43	0.44	0.44	0.45	0.46	0.47	0.48
Increase / (Decrease) in Invested Capital	1,991	1,761	1,643	-48	-136	59	285	178	192	196	-14
Enterprise Value (EV)	10,284	10,399	9,510	11,139	10,899	9,797	9,353	10,022	10,806	10,498	10,709
Market Capitalization	5,986	6,070	5,104	6,788	6,360	5,111	4,598	5,333	6,050	5,634	5,904
Book Value per Share	$19.52	$18.97	$18.50	$18.72	$18.38	$18.05	$18.22	$18.17	$18.20	$18.00	$17.88
Tangible Book Value per Share	($3.75)	($4.00)	($4.19)	($3.91)	($4.38)	($4.63)	($4.49)	($4.40)	($4.49)	($4.47)	($4.25)
Total Capital	11,482	11,313	11,212	11,290	11,328	11,262	11,467	11,450	11,601	11,522	11,559
Total Debt	4,562	4,584	4,632	4,629	4,784	4,829	4,959	4,950	5,082	5,070	5,115
Total Long-Term Debt	4,532	4,554	4,602	4,599	4,744	4,789	4,931	4,922	5,043	5,031	5,072
Net Debt	4,228	4,259	4,330	4,279	4,468	4,614	4,687	4,618	4,685	4,791	4,737
Capital Expenditures (CapEx)	84	67	72	60	92	110	89	74	76	100	71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	859	831	821	707	774	793	762	655	699	716	697
Debt-free Net Working Capital (DFNWC)	1,193	1,156	1,123	1,057	1,090	1,008	1,034	987	1,096	995	1,075
Net Working Capital (NWC)	1,163	1,126	1,093	1,027	1,050	968	1,006	959	1,057	956	1,032
Net Nonoperating Expense (NNE)	85	167	166	22	63	153	50	92	-442	93	68
Net Nonoperating Obligations (NNO)	4,228	4,259	4,330	4,279	4,468	4,614	4,687	4,618	4,685	4,791	4,737
Total Depreciation and Amortization (D&A)	144	135	135	136	132	133	132	133	103	104	106
Debt-free, Cash-free Net Working Capital to Revenue	20.72%	19.26%	18.26%	15.09%	16.16%	16.42%	15.58%	13.16%	13.70%	13.75%	13.09%
Debt-free Net Working Capital to Revenue	28.77%	26.80%	24.98%	22.57%	22.75%	20.87%	21.14%	19.84%	21.49%	19.11%	20.19%
Net Working Capital to Revenue	28.05%	26.10%	24.32%	21.93%	21.92%	20.05%	20.57%	19.27%	20.72%	18.36%	19.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.15)	($0.48)	($0.43)	$0.01	$0.00	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)	($0.04)
Adjusted Weighted Average Basic Shares Outstanding	350.50M	351.10M	351.80M	351.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M	357.10M
Adjusted Diluted Earnings per Share	($0.15)	($0.48)	($0.43)	$0.01	$0.00	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	350.50M	351.10M	351.80M	353.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M	357.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	350.99M	351.48M	351.90M	352.16M	352.47M	353.40M	353.87M	354.19M	354.32M	356.54M	357.17M
Normalized Net Operating Profit after Tax (NOPAT)	34	4.20	18	30	61	-58	-7.70	67	78	23	58
Normalized NOPAT Margin	2.92%	0.38%	1.50%	2.52%	4.76%	-5.11%	-0.60%	5.19%	5.58%	1.86%	4.17%
Pre Tax Income Margin	-4.86%	-8.19%	-6.25%	-4.85%	-0.78%	-15.83%	-11.50%	-0.23%	0.93%	-5.14%	-0.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.39	0.06	0.23	0.38	0.85	-0.95	-0.09	0.94	1.10	0.31	0.84
NOPAT to Interest Expense	0.35	0.04	0.18	0.30	0.62	-0.62	-0.06	0.68	-5.10	0.24	0.62
EBIT Less CapEx to Interest Expense	-0.45	-0.62	-0.48	-0.22	-0.09	-2.12	-0.74	0.18	0.33	-0.71	0.08
NOPAT Less CapEx to Interest Expense	-0.50	-0.63	-0.53	-0.30	-0.32	-1.79	-0.71	-0.08	-5.87	-0.78	-0.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-3.63%	0.00%	0.00%	-2.82%	-3.28%	0.00%	-7.22%	-3.04%	-2.56%	0.00%	-4.29%
Augmented Payout Ratio	-3.63%	0.00%	0.00%	-2.82%	-3.28%	0.00%	-7.22%	-3.04%	-2.56%	0.00%	-4.29%

Financials Breakdown Chart

Key Financial Trends

Bausch + Lomb (NYSE: BLCO) showed a mixed start to 2026, with revenue growth in the latest quarter but continued net losses and a highly leveraged balance sheet. The biggest positives are improving operating performance and solid operating cash flow, while the biggest concerns remain heavy interest expense, weak profitability, and substantial debt.

Q1 2026 revenue rose to $1.244 billion, up from $1.141 billion in Q1 2025, showing healthy top-line growth year over year.
Gross profit improved to $761 million in Q1 2026 from $655 million a year earlier, suggesting better scale and/or pricing mix.
Operating cash flow was positive at $32 million in Q1 2026, even though the company posted a net loss.
Cash and equivalents increased to $268 million at March 31, 2026, from $202 million at March 31, 2025, providing a larger liquidity buffer.
Operating income improved sharply year over year in Q1 2026 to $33 million, compared with an operating loss of $83 million in Q1 2025.
The company has also shown meaningful revenue growth over the last year across several quarters, with Q4 2025 revenue at $1.405 billion versus $1.28 billion in Q4 2024.
Capital spending remains significant, with Q1 2026 property, plant and equipment purchases of $100 million, which may support future growth but also consumes cash.
Working capital remains sizable, including $977 million of inventory and $1.106 billion of receivables in Q1 2026.
Shares outstanding have remained relatively stable around the mid-350 million range, so dilution has not been the main issue recently.
BLCO still posted a net loss of $70 million in Q1 2026, or -$0.20 per share.
Interest expense was $98 million in Q1 2026, far exceeding operating income and keeping earnings under pressure.
The company ended Q1 2026 with about $5.03 billion of long-term debt, plus $39 million of short-term debt, leaving it heavily leveraged.
Total liabilities of $7.328 billion remain very high relative to equity, which can limit flexibility if operating results weaken.
Quarterly profitability has been volatile: after a brief profit in Q3 2024, BLCO returned to losses in most subsequent quarters, including Q2 2025 and Q1 2026.
Over the last four years, retained earnings have stayed negative, underscoring the company’s history of cumulative losses.

Bottom line: Bausch + Lomb appears to be improving on the operating side, but the investment story is still dominated by debt service and inconsistent profitability. For retail investors, the key question is whether revenue growth and operating leverage can continue to improve fast enough to offset the company’s heavy interest burden.

08/15/26 12:20 PM ETAI Generated. May Contain Errors.

Bausch + Lomb Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Bausch + Lomb's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Bausch + Lomb's net income appears to be on an upward trend, with a most recent value of -$352 million in 2025, rising from -$17 million in 2020. The previous period was -$305 million in 2024. See where experts think Bausch + Lomb is headed by visiting Bausch + Lomb's forecast page.

Bausch + Lomb's total operating income in 2025 was $113 million, based on the following breakdown:

Total Gross Profit: $3.05 billion
Total Operating Expenses: $2.94 billion

Over the last 5 years, Bausch + Lomb's total revenue changed from $3.41 billion in 2020 to $5.10 billion in 2025, a change of 49.5%.

Bausch + Lomb's total liabilities were at $7.50 billion at the end of 2025, a 8.3% increase from 2024, and a 428.0% increase since 2021.

In the past 4 years, Bausch + Lomb's cash and equivalents has ranged from $174 million in 2021 to $383 million in 2025, and is currently $383 million as of their latest financial filing in 2025.

Over the last 5 years, Bausch + Lomb's book value per share changed from 0.00 in 2020 to 18.20 in 2025, a change of 1,820.5%.

Related Companies

Financial statements for NYSE:BLCO last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Bausch + Lomb (BLCO) Financials

Financials Breakdown Chart

Key Financial Trends

Bausch + Lomb Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Bausch + Lomb (BLCO) Financials

Annual Income Statements for Bausch + Lomb

Quarterly Income Statements for Bausch + Lomb

Annual Cash Flow Statements for Bausch + Lomb

Quarterly Cash Flow Statements for Bausch + Lomb

Annual Balance Sheets for Bausch + Lomb

Quarterly Balance Sheets for Bausch + Lomb

Annual Metrics And Ratios for Bausch + Lomb

Quarterly Metrics And Ratios for Bausch + Lomb

Financials Breakdown Chart

Key Financial Trends

Bausch + Lomb Financials - Frequently Asked Questions

When does Bausch + Lomb's financial year end?

How has Bausch + Lomb's net income changed over the last 5 years?

What is Bausch + Lomb's operating income?

How has Bausch + Lomb's revenue changed over the last 5 years?

How much debt does Bausch + Lomb have?

How much cash does Bausch + Lomb have?

How has Bausch + Lomb's book value per share changed over the last 5 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools