Bausch Health Companies Inc. (BHC) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Drug Manufacturers - Specialty & Generic
EV/EBITDA
↓
6.28
↓-42% vs avg
5yr avg: 10.80
30Y Low4.2·High69.1
P/FCF
↓
1.78
↓-59% vs avg
5yr avg: 4.37
30Y Low2.4·High85.9
P/B Ratio
↓
4.75
↓-39% vs avg
5yr avg: 7.83
30Y Low1.1·High23.5
ROE
↑
588.2%
↓+487% vs avg
5yr avg: -152.0%
30Y Low-332%·High88%
Debt/EBITDA
↓
6.14
↓-34% vs avg
5yr avg: 9.30
30Y Low0.1·High25.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BHC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Bausch Health Companies Inc. trades at 11.1x earnings, 31% below its 5-year average of 16.2x, sitting at the 13th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 50%. On a free-cash-flow basis, the stock trades at 1.8x P/FCF, 59% below the 5-year average of 4.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $2.6B | $3.0B | $2.9B | $2.3B | $9.9B | $7.4B | $10.5B | $6.5B | $7.3B | $5.0B |
| Enterprise Value | $21.7B | $22.5B | $23.6B | $24.4B | $22.5B | $32.0B | $30.7B | $33.2B | $30.0B | $32.0B | $34.3B |
| P/E Ratio → | 11.09 | 16.16 | — | — | — | — | — | — | — | 2.42 | — |
| P/S Ratio | 0.17 | 0.25 | 0.31 | 0.33 | 0.28 | 1.17 | 0.92 | 1.22 | 0.77 | 0.84 | 0.52 |
| P/B Ratio | 4.75 | 6.93 | — | — | 8.74 | — | 12.20 | 9.27 | 2.30 | 1.23 | 1.55 |
| P/FCF | 1.78 | 2.60 | 2.35 | 3.85 | — | 8.67 | 9.21 | 8.61 | 5.10 | 3.74 | 2.81 |
| P/OCF | 1.27 | 1.86 | 1.86 | 2.84 | — | 6.95 | 6.65 | 7.02 | 4.31 | 3.19 | 2.42 |
P/E links to full P/E history page with 30-year chart
BHC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Bausch Health Companies Inc.'s enterprise value stands at 6.3x EBITDA, 42% below its 5-year average of 10.8x. The Healthcare sector median is 14.2x, placing the stock at a 56% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.15 | 2.45 | 2.78 | 2.77 | 3.79 | 3.83 | 3.86 | 3.59 | 3.67 | 3.55 |
| EV / EBITDA | 6.28 | 6.51 | 8.39 | 10.94 | 12.16 | 15.97 | 12.28 | 17.73 | 69.07 | 10.82 | 14.93 |
| EV / EBIT | 9.75 | 10.12 | 12.65 | 15.03 | 15.15 | 18.72 | 23.38 | 24.73 | 60.09 | 57.72 | 28.50 |
| EV / FCF | — | 22.42 | 18.74 | 32.06 | — | 27.98 | 38.28 | 27.14 | 23.73 | 16.39 | 19.12 |
BHC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Bausch Health Companies Inc. earns an operating margin of 21.3%. Operating margins have expanded from 11.0% to 21.3% over the past 3 years, signaling improving operational efficiency. Return on equity of 588.2% is exceptionally high, though this is partly amplified by negative book value driven by aggressive share buybacks. ROIC of 8.2% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.9% | 60.9% | 71.1% | 70.8% | 70.9% | 71.6% | 72.0% | 72.7% | 71.9% | 70.8% | 73.4% |
| Operating Margin | 21.3% | 21.3% | 16.1% | 11.0% | 5.6% | 5.3% | 8.4% | -2.4% | -28.4% | 1.2% | -5.9% |
| Net Profit Margin | 1.5% | 1.5% | -0.5% | -6.8% | -2.8% | -11.2% | -7.0% | -20.7% | -49.5% | 27.6% | -24.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 588.2% | 588.2% | — | -665.2% | -199.1% | -332.0% | -64.2% | -90.3% | -94.7% | 52.2% | -51.9% |
| ROA | 0.6% | 0.6% | -0.2% | -2.2% | -0.8% | -3.1% | -1.7% | -5.8% | -12.8% | 5.9% | -5.2% |
| ROIC | 8.2% | 8.2% | 5.6% | 3.5% | 1.6% | 1.5% | 2.1% | -0.6% | -6.3% | 0.2% | -1.2% |
| ROCE | 10.6% | 10.6% | 7.2% | 4.3% | 2.0% | 1.8% | 2.5% | -0.8% | -8.4% | 0.3% | -1.4% |
BHC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Bausch Health Companies Inc. carries a Debt/EBITDA ratio of 6.1x, which is highly leveraged (91% above the sector average of 3.2x). Net debt stands at $19.9B ($21.2B total debt minus $1.3B cash). Interest coverage of just 1.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 56.36 | 56.36 | — | — | 79.87 | — | 39.55 | 22.79 | 8.63 | 4.28 | 9.16 |
| Debt / EBITDA | 6.14 | 6.14 | 7.76 | 10.05 | 11.24 | 11.32 | 9.57 | 13.83 | 55.87 | 8.60 | 12.98 |
| Net Debt / Equity | — | 52.84 | — | — | 77.70 | — | 38.55 | 19.94 | 8.38 | 4.16 | 8.99 |
| Net Debt / EBITDA | 5.76 | 5.76 | 7.34 | 9.63 | 10.93 | 11.02 | 9.32 | 12.10 | 54.22 | 8.35 | 12.74 |
| Debt / FCF | — | 19.83 | 16.38 | 28.21 | — | 19.31 | 29.08 | 18.52 | 18.63 | 12.65 | 16.32 |
| Interest Coverage | 1.35 | 1.35 | 1.35 | 1.22 | 1.01 | 1.20 | 0.86 | 0.83 | 0.30 | 0.30 | 0.66 |
BHC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.47x means Bausch Health Companies Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.08x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.30x to 1.47x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.47 | 1.47 | 0.86 | 1.30 | 1.08 | 1.08 | 1.09 | 1.12 | 0.19 | 1.11 | 1.41 |
| Quick Ratio | 1.08 | 1.08 | 0.62 | 0.94 | 0.80 | 0.89 | 0.86 | 0.94 | -0.06 | 0.87 | 1.11 |
| Cash Ratio | 0.32 | 0.32 | 0.17 | 0.22 | 0.14 | 0.11 | 0.12 | 0.52 | 0.19 | 0.17 | 0.15 |
| Asset Turnover | — | 0.40 | 0.36 | 0.32 | 0.32 | 0.29 | 0.26 | 0.25 | 0.31 | 0.23 | 0.22 |
| Inventory Turnover | 2.51 | 2.51 | 1.74 | 1.66 | 2.17 | 2.41 | 2.06 | 2.12 | 2.52 | 2.43 | 2.43 |
| Days Sales Outstanding | — | 82.00 | 81.15 | 83.28 | 80.42 | 76.82 | 71.71 | 78.04 | 81.23 | 89.12 | 94.97 |
BHC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Bausch Health Companies Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 9.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.0% | 6.2% | — | — | — | — | — | — | — | 41.3% | — |
| FCF Yield | 56.3% | 38.5% | 42.5% | 26.0% | — | 11.5% | 10.9% | 11.6% | 19.6% | 26.7% | 35.6% |
| Buyback Yield | 0.0% | 0.0% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.2% | 0.1% | 0.2% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.2% | 0.1% | 0.2% |
| Shares Outstanding | — | $375M | $368M | $365M | $362M | $359M | $355M | $352M | $350M | $352M | $347M |
Peer Comparison
Compare BHC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BHCYou | $2B | 11.1 | 6.3 | 1.8 | 60.9% | 21.3% | 588.2% | 8.2% | 6.1 |
 PBH | $2B | 12.0 | 9.4 | 8.8 | 52.8% | 28.4% | 10.2% | 8.2% | 3.1 |
 PRGO | $1B | -1.0 | 7.1 | 9.8 | 35.1% | 8.1% | -39.3% | 3.7% | 5.8 |
 BLCO | $5B | -14.6 | 16.9 | — | 54.8% | 3.7% | -5.5% | 1.2% | 8.8 |
 COO | $13B | 35.2 | 14.0 | 29.6 | 60.7% | 16.7% | 4.6% | 4.8% | 2.5 |
 ABT | $154B | 11.6 | 16.1 | 24.2 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 ALCO | $299M | -2.1 | — | 20.5 | -436.2% | -462.7% | -80.9% | -61.1% | — |
 NVS | $281B | 20.5 | 13.7 | 15.9 | 75.0% | 31.2% | 31.0% | 18.8% | 1.7 |
 EW | $50B | 47.7 | 26.8 | 37.7 | 78.1% | 27.0% | 10.5% | 15.5% | 0.4 |
 MCK | $90B | 19.6 | 13.2 | 15.8 | 3.6% | 1.6% | — | 254.1% | 1.2 |
 CAH | $52B | 34.4 | 18.8 | 28.2 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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BHC — Frequently Asked Questions
Quick answers to the most common questions about buying BHC stock.
What is Bausch Health Companies Inc.'s P/E ratio?
Bausch Health Companies Inc.'s current P/E ratio is 11.1x. The historical average is 25.5x. This places it at the 13th percentile of its historical range.
What is Bausch Health Companies Inc.'s EV/EBITDA?
Bausch Health Companies Inc.'s current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.6x.
What is Bausch Health Companies Inc.'s ROE?
Bausch Health Companies Inc.'s return on equity (ROE) is 588.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -17.6%.
Is BHC stock overvalued?
Based on historical data, Bausch Health Companies Inc. is trading at a P/E of 11.1x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Bausch Health Companies Inc.'s profit margins?
Bausch Health Companies Inc. has 60.9% gross margin and 21.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Bausch Health Companies Inc. have?
Bausch Health Companies Inc.'s Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.