Bausch + Lomb (BLCO) Financials

$16.02 +0.02 (+0.13%)

Closing price 03:59 PM Eastern

Extended Trading

$16.00 -0.03 (-0.16%)

As of 05:31 PM Eastern

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	-84	-54	-167	-151	4.00	-3.00	-212	-62	-28	-58	-71
Consolidated Net Income / (Loss)	-80	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70
Net Income / (Loss) Continuing Operations	-80	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70
Total Pre-Tax Income	-35	-57	-90	-76	-58	-10	-180	-147	-3.00	13	-64
Total Operating Income	40	49	6.00	26	43	87	-83	-11	95	112	33
Total Gross Profit	615	712	675	733	732	779	655	753	771	872	761
Total Revenue	1,007	1,173	1,099	1,216	1,196	1,280	1,137	1,278	1,281	1,405	1,244
Operating Revenue	1,007	1,173	1,099	1,216	1,196	1,280	1,137	1,278	1,281	1,405	1,244
Total Cost of Revenue	392	461	424	483	464	501	482	525	510	533	483
Operating Cost of Revenue	392	461	424	483	464	501	482	525	510	533	483
Total Operating Expenses	575	663	669	707	689	692	738	764	676	760	728
Selling, General & Admin Expense	418	483	504	535	511	532	563	579	528	564	544
Research & Development Expense	82	80	82	84	84	93	86	96	95	94	101
Amortization Expense	47	80	74	74	72	68	67	67	68	56	57
Other Operating Expenses / (Income)	28	20	9.00	14	22	-1.00	22	22	-15	46	26
Total Other Income / (Expense), net	-75	-106	-96	-102	-101	-97	-97	-136	-98	-99	-97
Interest Expense	76	99	99	102	100	98	94	137	98	98	98
Interest & Investment Income	4.00	3.00	3.00	3.00	4.00	5.00	3.00	3.00	3.00	3.00	4.00
Other Income / (Expense), net	-3.00	-10	0.00	-3.00	-5.00	-4.00	-6.00	-2.00	-3.00	-4.00	-3.00
Income Tax Expense	45	-6.00	73	72	-66	-8.00	31	-89	22	71	6.00
Net Income / (Loss) Attributable to Noncontrolling Interest	4.00	3.00	4.00	3.00	4.00	1.00	1.00	4.00	3.00	-	1.00
Basic Earnings per Share	($0.24)	($0.15)	($0.48)	($0.43)	$0.01	-	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)
Weighted Average Basic Shares Outstanding	350.80M	350.50M	351.10M	351.80M	351.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M
Diluted Earnings per Share	($0.24)	($0.15)	($0.48)	($0.43)	$0.01	-	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)
Weighted Average Diluted Shares Outstanding	350.80M	350.50M	351.10M	351.80M	353.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M
Weighted Average Basic & Diluted Shares Outstanding	350.86M	350.99M	351.48M	351.90M	352.16M	352.47M	353.40M	353.87M	354.19M	354.32M	356.54M

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Change in Cash & Equivalents	-32	-26	-9.00	-23	48	-34	-101	57	60	65	-118
Net Cash From Operating Activities	48	15	41	15	154	22	-25	35	137	136	32
Net Cash From Continuing Operating Activities	48	15	41	15	154	22	-25	35	137	136	32
Net Income / (Loss) Continuing Operations	-80	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70
Consolidated Net Income / (Loss)	-80	-51	-163	-148	8.00	-2.00	-211	-58	-25	-58	-70
Depreciation Expense	82	116	110	110	110	106	106	107	109	99	101
Amortization Expense	19	28	25	25	26	26	27	25	24	4.00	3.00
Non-Cash Adjustments To Reconcile Net Income	17	23	14	18	18	46	44	49	20	71	54
Changes in Operating Assets and Liabilities, net	10	-101	55	10	-8.00	-154	9.00	-88	9.00	20	-56
Net Cash From Investing Activities	-1,882	-135	-57	-74	-96	-185	-116	-90	-61	-188	-130
Net Cash From Continuing Investing Activities	-1,882	-135	-57	-74	-96	-185	-116	-90	-61	-188	-130
Purchase of Property, Plant & Equipment	-33	-84	-67	-72	-60	-92	-110	-89	-74	-76	-100
Purchase of Investments	-1,860	-53	-3.00	-4.00	-47	-96	-16	-2.00	-1.00	-114	-39
Divestitures	-	-	1.00	1.00	-	-	0.00	-	7.00	-	3.00
Sale and/or Maturity of Investments	11	2.00	12	1.00	11	3.00	10	1.00	7.00	2.00	6.00
Net Cash From Financing Activities	1,811	86	12	40	-20	146	31	90	-12	116	-20
Net Cash From Continuing Financing Activities	1,811	86	12	40	-20	146	31	90	-12	116	-20
Repayment of Debt	-157	-9.00	-58	-7.00	-9.00	-357	-10	-3,070	-9.00	-19	-2,805
Issuance of Debt	1,980	96	75	50	-	506	50	3,171	-	136	2,802
Other Financing Activities, net	-3.00	-1.00	-5.00	-3.00	-1.00	-3.00	-9.00	-2.00	-3.00	-1.00	-17
Effect of Exchange Rate Changes	-9.00	8.00	-5.00	-4.00	10	-17	9.00	22	-4.00	1.00	0.00

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	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
Total Assets	10,696	11,169	11,315	13,068	13,293	13,250	13,515	13,428	13,832	13,832	13,780
Total Current Assets	1,859	2,184	2,315	2,464	2,743	2,769	2,828	2,694	2,846	2,855	2,776
Cash & Equivalents	287	346	384	355	315	285	329	202	266	310	268
Restricted Cash	10	12	8.00	5.00	10	17	21	13	6.00	22	11
Accounts Receivable	685	714	791	783	920	986	943	1,007	1,084	1,089	1,106
Inventories, net	605	697	699	754	1,073	1,069	1,119	1,031	1,051	1,005	977
Prepaid Expenses	272	415	433	567	425	412	416	441	439	429	414
Plant, Property, & Equipment, net	1,222	1,296	1,294	1,284	1,397	1,430	1,481	1,581	1,680	1,711	1,794
Total Noncurrent Assets	7,615	7,689	7,706	9,320	9,153	9,051	9,206	9,153	9,306	9,266	9,210
Goodwill	4,415	4,522	4,540	4,526	4,547	4,538	4,581	4,567	4,667	4,657	4,737
Intangible Assets	2,068	2,031	2,021	3,662	3,515	3,437	3,384	3,427	3,361	3,328	3,226
Noncurrent Deferred & Refundable Income Taxes	904	923	938	920	860	827	931	864	973	978	945
Other Noncurrent Operating Assets	228	213	207	212	231	249	310	295	305	303	302
Total Liabilities & Shareholders' Equity	10,696	11,169	11,315	13,068	13,293	13,250	13,515	13,428	13,832	13,832	13,780
Total Liabilities	3,901	4,117	4,285	6,185	6,564	6,670	6,854	6,995	7,324	7,332	7,328
Total Current Liabilities	1,199	1,254	1,325	1,386	1,617	1,676	1,801	1,726	1,840	1,896	1,820
Short-Term Debt	25	25	25	30	30	30	30	40	28	28	39
Accounts Payable	295	389	348	364	426	405	455	427	449	395	407
Accrued Expenses	879	840	952	992	1,161	1,241	1,316	1,259	1,363	1,473	1,374
Total Noncurrent Liabilities	2,702	2,863	2,960	4,799	4,947	4,994	5,053	5,269	5,484	5,436	5,508
Long-Term Debt	2,413	2,508	2,604	4,435	4,554	4,602	4,599	4,789	4,931	4,922	5,031
Noncurrent Deferred & Payable Income Tax Liabilities	10	14	14	11	14	14	12	13	14	14	19
Other Noncurrent Operating Liabilities	279	341	342	353	379	378	442	467	539	500	458
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	6,795	7,052	7,030	6,883	6,729	6,580	6,661	6,433	6,508	6,500	6,452
Total Preferred & Common Equity	6,729	6,983	6,958	6,817	6,659	6,504	6,589	6,361	6,440	6,429	6,379
Total Common Equity	6,729	6,983	6,958	6,817	6,659	6,504	6,589	6,361	6,440	6,429	6,379
Common Stock	8,108	8,305	8,321	8,334	8,363	8,382	8,405	8,448	8,476	8,500	8,580
Retained Earnings	7.00	-84	-116	-200	-421	-572	-568	-783	-845	-873	-1,002
Accumulated Other Comprehensive Income / (Loss)	-1,386	-1,238	-1,247	-1,317	-1,283	-1,306	-1,248	-1,304	-1,191	-1,198	-1,199
Noncontrolling Interest	66	69	72	66	70	76	72	72	68	71	73

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	354,318,198.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	354,318,198.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.20
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.90%	17.77%	18.05%	17.49%	18.77%	9.12%	3.46%	5.10%	7.11%	9.77%	9.41%
EBITDA Growth	-6.76%	32.61%	63.95%	21.54%	26.09%	17.49%	-68.79%	-24.68%	29.31%	-1.86%	204.55%
EBIT Growth	-28.85%	-7.14%	175.00%	-32.35%	2.70%	112.82%	-1,583.33%	-156.52%	142.11%	30.12%	133.71%
NOPAT Growth	177.10%	-3.92%	400.00%	-39.53%	7.50%	77.55%	-1,483.33%	-142.31%	120.93%	-920.51%	139.76%
Net Income Growth	-433.33%	0.00%	-85.23%	-410.34%	110.00%	96.08%	-29.45%	60.81%	-412.50%	-2,800.00%	66.82%
EPS Growth	-380.00%	0.00%	-84.62%	-377.78%	104.17%	0.00%	-25.00%	58.14%	-900.00%	0.00%	66.67%
Operating Cash Flow Growth	77.78%	-90.57%	173.21%	162.50%	220.83%	46.67%	-160.98%	133.33%	-11.04%	518.18%	228.00%
Free Cash Flow Firm Growth	77.44%	-1,986.89%	-10,081.82%	-502.00%	103.86%	110.06%	93.33%	81.99%	-242.77%	-451.29%	-47.65%
Invested Capital Growth	22.96%	21.74%	19.09%	17.73%	-0.44%	-1.22%	0.54%	2.61%	1.63%	1.74%	1.77%
Revenue Q/Q Growth	-2.71%	16.48%	-6.31%	10.65%	-1.64%	7.02%	-11.17%	12.40%	0.23%	9.68%	-11.46%
EBITDA Q/Q Growth	6.15%	32.61%	-22.95%	12.06%	10.13%	23.56%	-79.53%	170.45%	89.08%	-6.22%	-36.49%
EBIT Q/Q Growth	8.82%	5.41%	-84.62%	283.33%	65.22%	118.42%	-207.23%	85.39%	807.69%	17.39%	-72.22%
NOPAT Q/Q Growth	-6.98%	22.50%	-87.76%	333.33%	65.38%	102.33%	-195.40%	86.75%	963.64%	-851.42%	104.62%
Net Income Q/Q Growth	-175.86%	36.25%	-219.61%	9.20%	105.41%	-125.00%	-10,450.00%	72.51%	56.90%	-132.00%	-20.69%
EPS Q/Q Growth	-166.67%	37.50%	-220.00%	10.42%	102.33%	0.00%	0.00%	70.00%	55.56%	-100.00%	-25.00%
Operating Cash Flow Q/Q Growth	300.00%	-68.75%	173.33%	-63.41%	926.67%	-85.71%	-213.64%	240.00%	291.43%	-0.73%	-76.47%
Free Cash Flow Firm Q/Q Growth	-649.91%	3.33%	10.22%	7.51%	104.81%	152.11%	-159.47%	-149.96%	61.91%	-520.35%	75.00%
Invested Capital Q/Q Growth	18.57%	1.46%	-1.44%	-0.71%	0.28%	0.66%	0.32%	1.34%	-0.69%	0.77%	0.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.07%	60.70%	61.42%	60.28%	61.20%	60.86%	57.61%	58.92%	60.19%	62.06%	61.17%
EBITDA Margin	13.70%	15.60%	12.83%	12.99%	14.55%	16.80%	3.87%	9.31%	17.56%	15.02%	10.77%
Operating Margin	3.97%	4.18%	0.55%	2.14%	3.60%	6.80%	-7.30%	-0.86%	7.42%	7.97%	2.65%
EBIT Margin	3.67%	3.32%	0.55%	1.89%	3.18%	6.48%	-7.83%	-1.02%	7.18%	7.69%	2.41%
Profit (Net Income) Margin	-7.94%	-4.35%	-14.83%	-12.17%	0.67%	-0.16%	-18.56%	-4.54%	-1.95%	-4.13%	-5.63%
Tax Burden Percent	228.57%	89.47%	181.11%	194.74%	-13.79%	20.00%	117.22%	39.46%	833.33%	-446.15%	109.38%
Interest Burden Percent	-94.59%	-146.15%	-1,500.00%	-330.43%	-152.63%	-12.05%	202.25%	1,130.77%	-3.26%	12.04%	-213.33%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	546.15%	0.00%
Return on Invested Capital (ROIC)	1.11%	1.19%	0.16%	0.67%	1.08%	2.06%	-2.24%	-0.27%	2.34%	-16.33%	0.87%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.35%	-1.52%	-5.03%	-4.39%	0.55%	0.61%	-5.69%	-1.38%	0.29%	-6.68%	-1.11%
Return on Net Nonoperating Assets (RNNOA)	-1.07%	-0.68%	-2.35%	-2.12%	0.34%	0.39%	-3.83%	-0.95%	0.19%	-4.68%	-0.81%
Return on Equity (ROE)	0.03%	0.51%	-2.19%	-1.45%	1.41%	2.45%	-6.07%	-1.22%	2.54%	-21.01%	0.06%
Cash Return on Invested Capital (CROIC)	-19.67%	-18.71%	-16.47%	-15.45%	1.23%	2.25%	-0.07%	-2.35%	-1.06%	-1.02%	-0.32%
Operating Return on Assets (OROA)	1.23%	1.12%	0.19%	0.69%	1.12%	2.31%	-2.83%	-0.37%	2.61%	2.85%	0.92%
Return on Assets (ROA)	-2.65%	-1.47%	-5.23%	-4.45%	0.24%	-0.06%	-6.71%	-1.64%	-0.71%	-1.53%	-2.15%
Return on Common Equity (ROCE)	0.03%	0.51%	-2.17%	-1.44%	1.40%	2.43%	-6.01%	-1.21%	2.51%	-20.79%	0.06%
Return on Equity Simple (ROE_SIMPLE)	-2.89%	0.00%	-4.85%	-6.80%	-5.37%	0.00%	-5.55%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	28	34	4.20	18	30	61	-58	-7.70	67	-500	23
NOPAT Margin	2.78%	2.92%	0.38%	1.50%	2.52%	4.76%	-5.11%	-0.60%	5.19%	-35.57%	1.86%
Net Nonoperating Expense Percent (NNEP)	3.46%	2.71%	5.20%	5.06%	0.53%	1.45%	3.45%	1.12%	2.06%	-9.65%	1.98%
Return On Investment Capital (ROIC_SIMPLE)	-	0.30%	-	-	-	0.54%	-0.52%	-0.07%	0.58%	-4.31%	0.20%
Cost of Revenue to Revenue	38.93%	39.30%	38.58%	39.72%	38.80%	39.14%	42.39%	41.08%	39.81%	37.94%	38.83%
SG&A Expenses to Revenue	41.51%	41.18%	45.86%	44.00%	42.73%	41.56%	49.52%	45.31%	41.22%	40.14%	43.73%
R&D to Revenue	8.14%	6.82%	7.46%	6.91%	7.02%	7.27%	7.56%	7.51%	7.42%	6.69%	8.12%
Operating Expenses to Revenue	57.10%	56.52%	60.87%	58.14%	57.61%	54.06%	64.91%	59.78%	52.77%	54.09%	58.52%
Earnings before Interest and Taxes (EBIT)	37	39	6.00	23	38	83	-89	-13	92	108	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	138	183	141	158	174	215	44	119	225	211	134
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.87	0.87	0.91	0.78	1.03	0.98	0.80	0.71	0.83	0.94	0.88
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)	1.50	1.44	1.41	1.14	1.45	1.33	1.06	0.94	1.07	1.19	1.08
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	0.92	0.95	0.87	1.02	0.99	0.89	0.84	0.90	0.96	0.93
Enterprise Value to Revenue (EV/Rev)	2.55	2.48	2.41	2.12	2.38	2.27	2.03	1.91	2.01	2.12	2.02
Enterprise Value to EBITDA (EV/EBITDA)	20.56	19.15	17.57	15.34	16.98	15.84	16.58	16.94	16.62	18.04	15.24
Enterprise Value to EBIT (EV/EBIT)	96.34	100.82	89.64	90.57	105.09	72.66	178.12	492.25	137.28	110.26	48.38
Enterprise Value to NOPAT (EV/NOPAT)	109.47	113.01	107.65	112.27	128.33	96.11	191.72	371.14	162.69	136.61	65.49
Enterprise Value to Operating Cash Flow (EV/OCF)	79.65	0.00	129.99	79.91	49.51	46.98	59.02	50.28	59.30	38.18	30.88
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	82.63	43.70	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.65	0.66	0.68	0.70	0.69	0.73	0.75	0.76	0.76	0.78	0.79
Long-Term Debt to Equity	0.64	0.65	0.68	0.70	0.69	0.72	0.74	0.76	0.76	0.77	0.78
Financial Leverage	0.46	0.45	0.47	0.48	0.62	0.65	0.67	0.69	0.68	0.70	0.73
Leverage Ratio	1.74	1.75	1.78	1.80	1.96	2.00	2.03	2.07	2.08	2.10	2.11
Compound Leverage Factor	-1.64	-2.56	-26.63	-5.96	-3.00	-0.24	4.11	23.40	-0.07	0.25	-4.50
Debt to Total Capital	39.35%	39.73%	40.52%	41.31%	41.00%	42.23%	42.88%	43.25%	43.23%	43.81%	44.00%
Short-Term Debt to Total Capital	0.26%	0.26%	0.27%	0.27%	0.27%	0.35%	0.36%	0.24%	0.24%	0.34%	0.34%
Long-Term Debt to Total Capital	39.08%	39.47%	40.25%	41.05%	40.74%	41.88%	42.52%	43.00%	42.99%	43.47%	43.66%
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	0.58%	0.61%	0.62%	0.68%	0.64%	0.63%	0.64%	0.59%	0.62%	0.61%	0.63%
Common Equity to Total Capital	60.07%	59.66%	58.86%	58.01%	58.36%	57.14%	56.48%	56.16%	56.15%	55.58%	55.36%
Debt to EBITDA	9.08	8.50	7.74	7.47	7.06	6.95	8.17	8.98	8.21	8.48	7.36
Net Debt to EBITDA	8.34	7.87	7.19	6.98	6.52	6.49	7.81	8.49	7.66	7.82	6.95
Long-Term Debt to EBITDA	9.01	8.44	7.69	7.42	7.01	6.90	8.10	8.93	8.16	8.42	7.30
Debt to NOPAT	48.32	50.13	47.45	54.69	53.33	42.19	94.50	196.79	80.36	64.25	31.63
Net Debt to NOPAT	44.43	46.46	44.09	51.12	49.30	39.40	90.29	185.99	74.97	59.23	29.89
Long-Term Debt to NOPAT	48.00	49.80	47.14	54.33	52.98	41.83	93.72	195.67	79.90	63.75	31.38
Altman Z-Score	0.97	0.95	0.94	0.84	0.98	0.96	0.78	0.73	0.81	0.87	0.83
Noncontrolling Interest Sharing Ratio	0.97%	0.98%	1.01%	1.09%	1.02%	1.05%	1.08%	1.10%	1.09%	1.09%	1.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.74	1.70	1.65	1.57	1.60	1.56	1.55	1.51	1.55	1.53
Quick Ratio	0.82	0.74	0.76	0.76	0.71	0.77	0.70	0.73	0.74	0.84	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,024	-1,957	-1,757	-1,625	78	197	-117	-293	-112	-692	-173
Operating Cash Flow to CapEx	145.45%	17.86%	61.19%	20.83%	256.67%	23.91%	-22.73%	39.33%	185.14%	178.95%	32.00%
Free Cash Flow to Firm to Interest Expense	-26.63	-19.76	-17.75	-15.93	0.78	2.01	-1.25	-2.14	-1.14	-7.06	-1.76
Operating Cash Flow to Interest Expense	0.63	0.15	0.41	0.15	1.54	0.22	-0.27	0.26	1.40	1.39	0.33
Operating Cash Flow Less CapEx to Interest Expense	0.20	-0.70	-0.26	-0.56	0.94	-0.71	-1.44	-0.39	0.64	0.61	-0.69
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.34	0.35	0.37	0.35	0.36	0.36	0.36	0.36	0.37	0.38
Accounts Receivable Turnover	5.41	5.31	5.28	5.06	5.43	5.14	5.01	4.73	4.90	4.54	4.93
Inventory Turnover	2.36	1.98	1.91	1.99	1.96	1.81	1.83	1.86	1.90	2.04	2.04
Fixed Asset Turnover	3.17	3.08	3.20	3.30	3.39	3.33	3.24	3.15	3.12	3.14	3.09
Accounts Payable Turnover	4.86	3.68	4.16	4.67	4.47	4.11	4.53	4.62	4.75	5.28	4.92
Days Sales Outstanding (DSO)	67.50	68.80	69.12	72.15	67.25	71.04	72.83	77.24	74.53	80.39	74.04
Days Inventory Outstanding (DIO)	154.91	184.06	190.69	183.33	186.58	201.22	198.95	196.20	192.09	179.12	178.67
Days Payable Outstanding (DPO)	75.12	99.14	87.80	78.08	81.59	88.81	80.66	79.03	76.87	69.17	74.21
Cash Conversion Cycle (CCC)	147.29	153.72	172.01	177.40	172.25	183.45	191.12	194.40	189.74	190.34	178.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,988	11,148	10,988	10,910	10,940	11,012	11,047	11,195	11,118	11,204	11,243
Invested Capital Turnover	0.40	0.41	0.43	0.45	0.43	0.43	0.44	0.44	0.45	0.46	0.47
Increase / (Decrease) in Invested Capital	2,052	1,991	1,761	1,643	-48	-136	59	285	178	192	196
Enterprise Value (EV)	10,115	10,284	10,399	9,510	11,139	10,899	9,797	9,353	10,022	10,806	10,498
Market Capitalization	5,944	5,986	6,070	5,104	6,788	6,360	5,111	4,598	5,333	6,050	5,634
Book Value per Share	$19.44	$19.52	$18.97	$18.50	$18.72	$18.38	$18.05	$18.22	$18.17	$18.20	$18.00
Tangible Book Value per Share	($3.91)	($3.75)	($4.00)	($4.19)	($3.91)	($4.38)	($4.63)	($4.49)	($4.40)	($4.49)	($4.47)
Total Capital	11,348	11,482	11,313	11,212	11,290	11,328	11,262	11,467	11,450	11,601	11,522
Total Debt	4,465	4,562	4,584	4,632	4,629	4,784	4,829	4,959	4,950	5,082	5,070
Total Long-Term Debt	4,435	4,532	4,554	4,602	4,599	4,744	4,789	4,931	4,922	5,043	5,031
Net Debt	4,105	4,228	4,259	4,330	4,279	4,468	4,614	4,687	4,618	4,685	4,791
Capital Expenditures (CapEx)	33	84	67	72	60	92	110	89	74	76	100
Debt-free, Cash-free Net Working Capital (DFCFNWC)	748	859	831	821	707	774	793	762	655	699	716
Debt-free Net Working Capital (DFNWC)	1,108	1,193	1,156	1,123	1,057	1,090	1,008	1,034	987	1,096	995
Net Working Capital (NWC)	1,078	1,163	1,126	1,093	1,027	1,050	968	1,006	959	1,057	956
Net Nonoperating Expense (NNE)	108	85	167	166	22	63	153	50	92	-442	93
Net Nonoperating Obligations (NNO)	4,105	4,228	4,259	4,330	4,279	4,468	4,614	4,687	4,618	4,685	4,791
Total Depreciation and Amortization (D&A)	101	144	135	135	136	132	133	132	133	103	104
Debt-free, Cash-free Net Working Capital to Revenue	18.85%	20.72%	19.26%	18.26%	15.09%	16.16%	16.42%	15.58%	13.16%	13.70%	13.75%
Debt-free Net Working Capital to Revenue	27.92%	28.77%	26.80%	24.98%	22.57%	22.75%	20.87%	21.14%	19.84%	21.49%	19.11%
Net Working Capital to Revenue	27.16%	28.05%	26.10%	24.32%	21.93%	21.92%	20.05%	20.57%	19.27%	20.72%	18.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.24)	($0.15)	($0.48)	($0.43)	$0.01	$0.00	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)
Adjusted Weighted Average Basic Shares Outstanding	350.80M	350.50M	351.10M	351.80M	351.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M
Adjusted Diluted Earnings per Share	($0.24)	($0.15)	($0.48)	($0.43)	$0.01	$0.00	($0.60)	($0.18)	($0.08)	($0.16)	($0.20)
Adjusted Weighted Average Diluted Shares Outstanding	350.80M	350.50M	351.10M	351.80M	353.90M	351.80M	352.80M	353.70M	354.20M	353.80M	355.20M
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	350.86M	350.99M	351.48M	351.90M	352.16M	352.47M	353.40M	353.87M	354.19M	354.32M	356.54M
Normalized Net Operating Profit after Tax (NOPAT)	28	34	4.20	18	30	61	-58	-7.70	67	78	23
Normalized NOPAT Margin	2.78%	2.92%	0.38%	1.50%	2.52%	4.76%	-5.11%	-0.60%	5.19%	5.58%	1.86%
Pre Tax Income Margin	-3.48%	-4.86%	-8.19%	-6.25%	-4.85%	-0.78%	-15.83%	-11.50%	-0.23%	0.93%	-5.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.49	0.39	0.06	0.23	0.38	0.85	-0.95	-0.09	0.94	1.10	0.31
NOPAT to Interest Expense	0.37	0.35	0.04	0.18	0.30	0.62	-0.62	-0.06	0.68	-5.10	0.24
EBIT Less CapEx to Interest Expense	0.05	-0.45	-0.62	-0.48	-0.22	-0.09	-2.12	-0.74	0.18	0.33	-0.71
NOPAT Less CapEx to Interest Expense	-0.07	-0.50	-0.63	-0.53	-0.30	-0.32	-1.79	-0.71	-0.08	-5.87	-0.78
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-4.57%	-3.63%	0.00%	0.00%	-2.82%	-3.28%	0.00%	-7.22%	-3.04%	-2.56%	0.00%
Augmented Payout Ratio	-4.57%	-3.63%	0.00%	0.00%	-2.82%	-3.28%	0.00%	-7.22%	-3.04%	-2.56%	0.00%

Financials Breakdown Chart

Key Financial Trends

Bausch + Lomb (NYSE: BLCO) has shown a mix of improving top-line results and ongoing profitability challenges over the last four years. The latest Q4 2025 data indicate stronger quarterly revenue and margins, but continued net losses driven by high interest expense and sizable investing cash outflows. The company maintains a large long‑term debt load, a solid equity base, and cash flow that has improved in the second half of 2025, supported by financing activity. Below is a concise, investor-focused trend view based on quarterly figures from 2022 through 2025.

Q4 2025 Operating Revenue rose to 1.405 billion, up from Q4 2024’s 1.28 billion, representing roughly 10% year‑over‑year growth and signaling improving demand.
Total Gross Profit in Q4 2025 was 872 million on 1.405 billion in revenue, yielding a gross margin in the low 60% range (about 62%), indicating solid profitability on product sales.
In 2025’s Q3 and Q4, Net Cash From Continuing Operating Activities was strongly positive (about 137 million in Q3 and 136 million in Q4), reflecting improved cash generation from core operations in the second half of the year.
Q4 2025 Net Change in Cash & Equivalents was a positive 65 million, consistent with the positive operating cash flow trend in the latter half of 2025 and indicating liquidity stability.

Long‑term debt remained very large (roughly 4.9–5.3 billion across 2025), providing a stable but heavy financing burden and contributing to high interest expenses.
R&D expense stayed near 90–100 million per quarter and SG&A around 5–6 hundred million, indicating ongoing investment in product development and marketing without dramatic swings—this is typical for a medical device portfolio but remains a cost headwind.
Total assets generally hovered around 13.8–13.9 billion with total equity around 6.4–6.6 billion across 2025, suggesting a relatively stable capital structure despite ongoing losses.

Net income remained negative in all 2025 quarters (e.g., -211 million in Q1, -58 million in Q2, -25 million in Q3, and -58 million in Q4), underscoring persistent profitability challenges even as revenue grows.
Interest expense was consistently high (around 98–102 million per quarter) and, along with tax expense, amplified after‑tax losses, limiting margin expansion beyond gross profitability.
Per‑share results were negative for most quarters (for example, Basic EPS ranged from about -0.16 to -0.60 in 2025), signaling ongoing dilution or accumulated losses for shareholders.
Net cash from investing activities was markedly negative in several quarters (e.g., Q4 2025 investing outflow of about 188 million), reflecting ongoing capital expenditure and asset acquisitions that reduce near‑term liquidity.

05/06/26 07:52 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Bausch + Lomb's Financials

When does Bausch + Lomb's financial year end?

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.

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

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.

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

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

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%.

How much debt does Bausch + Lomb have?

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.

How much cash does Bausch + Lomb have?

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.

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

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 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Bausch + Lomb (BLCO) Financials

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Bausch + Lomb (BLCO) Financials

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