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Bausch + Lomb Corporation Financials

BLCO
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Bausch + Lomb Corporation (BLCO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 34 / 100
Financial Profile 34/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
27

Bausch + Lomb Corporation has an operating margin of 2.2%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 27/100, suggesting thin profitability after operating expenses. This is down from 3.4% the prior year.

Growth
44

Bausch + Lomb Corporation's revenue grew 6.5% year-over-year to $5.1B, a solid pace of expansion. This earns a growth score of 44/100.

Leverage
86

Bausch + Lomb Corporation carries a low D/E ratio of 0.78, meaning only $0.78 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
27

Bausch + Lomb Corporation's current ratio of 1.55 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.

Cash Flow
22

While Bausch + Lomb Corporation generated $283.0M in operating cash flow, capex of $349.0M consumed most of it, leaving -$66.0M in free cash flow. This results in a low score of 22/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Bausch + Lomb Corporation generates a -5.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -4.9% the prior year.

Altman Z-Score Distress
0.86

Bausch + Lomb Corporation scores 0.86, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($5.9B) relative to total liabilities ($7.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Weak
3/9

Bausch + Lomb Corporation passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed
-0.79x

For every $1 of reported earnings, Bausch + Lomb Corporation generates $-0.79 in operating cash flow ($283.0M OCF vs -$360.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
0.3x

Bausch + Lomb Corporation earns $0.3 in operating income for every $1 of interest expense ($113.0M vs $421.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$5.1B
YoY+6.5%
5Y CAGR+8.4%

Bausch + Lomb Corporation generated $5.1B in revenue in fiscal year 2025. This represents an increase of 6.5% from the prior year.

EBITDA
$534.0M
YoY-10.7%
5Y CAGR-5.3%

Bausch + Lomb Corporation's EBITDA was $534.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.7% from the prior year.

Net Income
-$360.0M
YoY-13.6%

Bausch + Lomb Corporation reported -$360.0M in net income in fiscal year 2025. This represents a decrease of 13.6% from the prior year.

EPS (Diluted)
$-1.02
YoY-13.3%

Bausch + Lomb Corporation earned $-1.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 13.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$66.0M
YoY-11.9%

Bausch + Lomb Corporation generated -$66.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 11.9% from the prior year.

Cash & Debt
$383.0M
YoY+25.6%
5Y CAGR+10.0%

Bausch + Lomb Corporation held $383.0M in cash against $5.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
354M
YoY+0.5%

Bausch + Lomb Corporation had 354M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
2.2%
YoY-1.2pp
5Y CAGR-5.4pp

Bausch + Lomb Corporation's operating margin was 2.2% in fiscal year 2025, reflecting core business profitability. This is down 1.2 percentage points from the prior year.

Net Margin
-7.1%
YoY-0.4pp
5Y CAGR-6.5pp

Bausch + Lomb Corporation's net profit margin was -7.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity
-5.6%
YoY-0.7pp
5Y CAGR-5.4pp

Bausch + Lomb Corporation's ROE was -5.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$371.0M
YoY+8.2%
5Y CAGR+8.0%

Bausch + Lomb Corporation invested $371.0M in research and development in fiscal year 2025. This represents an increase of 8.2% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$349.0M
YoY+19.9%
5Y CAGR+6.6%

Bausch + Lomb Corporation invested $349.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 19.9% from the prior year.

BLCO Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.4B+9.7% $1.3B+0.2% $1.3B+12.4% $1.1B-11.2% $1.3B+7.0% $1.2B-1.6% $1.2B+10.6% $1.1B
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses $94.0M-1.1% $95.0M-1.0% $96.0M+11.6% $86.0M-7.5% $93.0M+10.7% $84.0M0.0% $84.0M+2.4% $82.0M
SG&A Expenses $564.0M+6.8% $528.0M-8.8% $579.0M+2.8% $563.0M+5.8% $532.0M+4.1% $511.0M-4.5% $535.0M+6.2% $504.0M
Operating Income $112.0M+17.9% $95.0M+963.6% -$11.0M+86.7% -$83.0M-195.4% $87.0M+102.3% $43.0M+65.4% $26.0M+333.3% $6.0M
Interest Expense $98.0M-3.0% $101.0M-21.1% $128.0M+36.2% $94.0M-4.1% $98.0M-2.0% $100.0M-2.0% $102.0M+3.0% $99.0M
Income Tax $71.0M+222.7% $22.0M+124.7% -$89.0M-387.1% $31.0M+487.5% -$8.0M+87.9% -$66.0M-191.7% $72.0M-1.4% $73.0M
Net Income -$58.0M-107.1% -$28.0M+54.8% -$62.0M+70.8% -$212.0M-6966.7% -$3.0M-175.0% $4.0M+102.6% -$151.0M+9.6% -$167.0M
EPS (Diluted) N/A $-0.08+55.6% $-0.18+70.0% $-0.60 N/A $0.01+102.3% $-0.43+10.4% $-0.48

BLCO Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $14.0B+1.4% $13.8B0.0% $13.8B+3.0% $13.4B-0.3% $13.5B-0.3% $13.5B+2.0% $13.3B-0.3% $13.3B
Current Assets $3.0B+4.3% $2.9B+0.3% $2.8B+5.6% $2.7B-3.4% $2.8B-1.4% $2.8B+2.1% $2.8B+0.9% $2.7B
Cash & Equivalents $383.0M+23.5% $310.0M+16.5% $266.0M+31.7% $202.0M-33.8% $305.0M-7.3% $329.0M+15.4% $285.0M-9.5% $315.0M
Inventory $976.0M-2.9% $1.0B-4.4% $1.1B+1.9% $1.0B-0.5% $1.0B-7.4% $1.1B+4.7% $1.1B-0.4% $1.1B
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $4.8B+2.2% $4.7B-0.2% $4.7B+2.2% $4.6B+1.0% $4.5B-1.3% $4.6B+0.9% $4.5B-0.2% $4.5B
Total Liabilities $7.5B+2.3% $7.3B+0.1% $7.3B+4.7% $7.0B+1.0% $6.9B+1.0% $6.9B+2.8% $6.7B+1.6% $6.6B
Current Liabilities $1.9B+1.3% $1.9B+3.0% $1.8B+6.6% $1.7B-0.7% $1.7B-3.5% $1.8B+7.5% $1.7B+3.6% $1.6B
Long-Term Debt $5.0B+2.0% $4.9B-0.2% $4.9B+3.0% $4.8B+0.9% $4.7B+3.2% $4.6B-0.1% $4.6B+1.1% $4.6B
Total Equity $6.4B+0.3% $6.4B-0.2% $6.4B+1.2% $6.4B-1.7% $6.5B-1.8% $6.6B+1.3% $6.5B-2.3% $6.7B
Retained Earnings -$931.0M-6.6% -$873.0M-3.3% -$845.0M-7.9% -$783.0M-37.1% -$571.0M-0.5% -$568.0M+0.7% -$572.0M-35.9% -$421.0M

BLCO Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $136.0M-0.7% $137.0M+291.4% $35.0M+240.0% -$25.0M-213.6% $22.0M-85.7% $154.0M+926.7% $15.0M-63.4% $41.0M
Capital Expenditures $76.0M+2.7% $74.0M-16.9% $89.0M-19.1% $110.0M+19.6% $92.0M+53.3% $60.0M-16.7% $72.0M+7.5% $67.0M
Free Cash Flow $60.0M-4.8% $63.0M+216.7% -$54.0M+60.0% -$135.0M-92.9% -$70.0M-174.5% $94.0M+264.9% -$57.0M-119.2% -$26.0M
Investing Cash Flow -$188.0M-208.2% -$61.0M+32.2% -$90.0M+22.4% -$116.0M+37.3% -$185.0M-92.7% -$96.0M-29.7% -$74.0M-29.8% -$57.0M
Financing Cash Flow $116.0M+1066.7% -$12.0M-113.3% $90.0M+190.3% $31.0M-78.8% $146.0M+830.0% -$20.0M-150.0% $40.0M+233.3% $12.0M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

BLCO Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 8.0%+0.5pp 7.4%+8.3pp -0.9%+6.4pp -7.3%-14.1pp 6.8%+3.2pp 3.6%+1.5pp 2.1%+1.6pp 0.5%
Net Margin -4.1%-1.9pp -2.2%+2.7pp -4.9%+13.8pp -18.6%-18.4pp -0.2%-0.6pp 0.3%+12.8pp -12.4%+2.8pp -15.2%
Return on Equity -0.9%-0.5pp -0.4%+0.5pp -1.0%+2.4pp -3.3%-3.3pp -0.1%-0.1pp 0.1%+2.4pp -2.3%+0.2pp -2.5%
Return on Assets -0.4%-0.2pp -0.2%+0.2pp -0.4%+1.1pp -1.6%-1.6pp -0.0%-0.1pp 0.0%+1.2pp -1.1%+0.1pp -1.3%
Current Ratio 1.55+0.0 1.51-0.0 1.55-0.0 1.56-0.0 1.60+0.0 1.57-0.1 1.65-0.0 1.70
Debt-to-Equity 0.78+0.0 0.770.0 0.77+0.0 0.75+0.0 0.73+0.0 0.700.0 0.71+0.0 0.68
FCF Margin 4.3%-0.6pp 4.9%+9.2pp -4.2%+7.6pp -11.9%-6.4pp -5.5%-13.3pp 7.9%+12.6pp -4.7%-2.3pp -2.4%

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Frequently Asked Questions

Bausch + Lomb Corporation (BLCO) reported $5.1B in total revenue for fiscal year 2025. This represents a 6.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Bausch + Lomb Corporation (BLCO) revenue grew by 6.5% year-over-year, from $4.8B to $5.1B in fiscal year 2025.

No, Bausch + Lomb Corporation (BLCO) reported a net income of -$360.0M in fiscal year 2025, with a net profit margin of -7.1%.

Bausch + Lomb Corporation (BLCO) reported diluted earnings per share of $-1.02 for fiscal year 2025. This represents a -13.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bausch + Lomb Corporation (BLCO) had EBITDA of $534.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Bausch + Lomb Corporation (BLCO) had $383.0M in cash and equivalents against $5.0B in long-term debt.

Bausch + Lomb Corporation (BLCO) had an operating margin of 2.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Bausch + Lomb Corporation (BLCO) had a net profit margin of -7.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Bausch + Lomb Corporation (BLCO) has a return on equity of -5.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Bausch + Lomb Corporation (BLCO) generated -$66.0M in free cash flow during fiscal year 2025. This represents a -11.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Bausch + Lomb Corporation (BLCO) generated $283.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Bausch + Lomb Corporation (BLCO) had $14.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Bausch + Lomb Corporation (BLCO) invested $349.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Bausch + Lomb Corporation (BLCO) invested $371.0M in research and development during fiscal year 2025.

Bausch + Lomb Corporation (BLCO) had 354M shares outstanding as of fiscal year 2025.

Bausch + Lomb Corporation (BLCO) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.

Bausch + Lomb Corporation (BLCO) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Bausch + Lomb Corporation (BLCO) had a return on assets of -2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Bausch + Lomb Corporation (BLCO) has an Altman Z-Score of 0.86, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Bausch + Lomb Corporation (BLCO) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Bausch + Lomb Corporation (BLCO) has an earnings quality ratio of -0.79x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Bausch + Lomb Corporation (BLCO) has an interest coverage ratio of 0.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Bausch + Lomb Corporation (BLCO) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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