The company's capital structure remains strained by a $1.0 billion accumulated deficit in retained earnings and a significant $4.7 billion goodwill balance as of 2026Q1.
| Total Current Assets | 2.78B | 2.98B | 2.79B | 2.74B | 2.14B | 1.64B | 1.65B | 1.7B |
| Cash & Short-Term Investments | 268M | 383M | 305M | 334M | 380M | 174M | 238M | 192M |
| Cash Only | 268M | 383M | 305M | 334M | 380M | 174M | 238M | 192M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.11B | 1.22B | 1.03B | 875M | 726M | 721M | 645M | 713M |
| Days Sales Outstanding | 79 | 87.37 | 78.17 | 77.03 | 70.33 | 69.9 | 69 | 68.88 |
| Inventory | 977M | 976M | 1.04B | 1.03B | 628M | 572M | 616M | 592M |
| Days Inventory Outstanding | 159.12 | 154.35 | 202 | 228.51 | 150.9 | 142.32 | 174.97 | 162.83 |
| Other Current Assets | 425M | 397M | 421M | 505M | 403M | 3M | 155M | 198M |
| Total Non-Current Assets | 11B | 11.04B | 10.68B | 10.7B | 9.01B | 9.19B | 9.61B | 9.77B |
| Property, Plant & Equipment | 1.79B | 1.76B | 1.49B | 1.5B | 1.42B | 1.34B | 1.26B | 1.09B |
| Fixed Asset Turnover | 3.00x | 2.90x | 3.23x | 2.76x | 2.66x | 2.82x | 2.70x | 3.47x |
| Goodwill | 4.74B | 4.76B | 4.52B | 4.58B | 4.51B | 4.59B | 4.68B | 4.55B |
| Intangible Assets | 3.23B | 3.28B | 3.49B | 3.59B | 2.06B | 2.26B | 2.56B | 2.85B |
| Long-Term Investments | 14M | 7M | 19M | 19M | 12M | 0 | 0 | 0 |
| Other Non-Current Assets | 302M | 303M | 275M | 92M | 84M | 1B | 65M | 82M |
| Total Assets | 13.78B | 14.02B | 13.47B | 13.44B | 11.14B | 10.82B | 11.27B | 11.47B |
| Asset Turnover | 0.38x | 0.36x | 0.36x | 0.31x | 0.34x | 0.35x | 0.30x | 0.33x |
| Asset Growth % | 13.47% | 4.11% | 0.2% | 20.62% | 2.97% | -3.93% | -1.76% | - |
| Total Current Liabilities | 1.82B | 1.92B | 1.74B | 1.58B | 1.3B | 1.1B | 909M | 1.03B |
| Accounts Payable | 407M | 388M | 389M | 522M | 317M | 239M | 178M | 262M |
| Days Payables Outstanding | 65.05 | 61.36 | 75.85 | 116.04 | 76.17 | 59.46 | 50.56 | 72.06 |
| Short-Term Debt | 39M | 77M | 40M | 57M | 51M | 28M | 18M | 16M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.37B | 1.46B | 1.28B | 709M | 732M | 356M | 544M | 573M |
| Current Ratio | 1.53x | 1.55x | 1.60x | 1.74x | 1.65x | 1.49x | 1.82x | 1.64x |
| Quick Ratio | 0.99x | 1.04x | 1.01x | 1.09x | 1.16x | 0.97x | 1.14x | 1.07x |
| Cash Conversion Cycle | 173.07 | 180.36 | 204.32 | 189.51 | 145.06 | 152.75 | 193.41 | 159.65 |
| Total Non-Current Liabilities | 5.51B | 5.58B | 5.19B | 4.94B | 2.75B | 322M | 369M | 401M |
| Long-Term Debt | 0 | 5.17B | 4.74B | 4.53B | 2.41B | 0 | 0 | 0 |
| Capital Lease Obligations | 125M | 125M | 120M | 87M | 92M | 92M | 83M | 77M |
| Deferred Tax Liabilities | 66M | 19M | 13M | 14M | 7M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.49B | 271M | 310M | 310M | 237M | 230M | 286M | 324M |
| Total Liabilities | 7.33B | 7.5B | 6.92B | 6.52B | 4.04B | 1.42B | 1.28B | 1.44B |
| Total Debt | 39M | 5.37B | 4.94B | 4.68B | 2.55B | 140M | 101M | 93M |
| Net Debt | -229M | 4.99B | 4.63B | 4.34B | 2.17B | -34M | -137M | -99M |
| Debt / Equity | 0.01x | 0.82x | 0.75x | 0.68x | 0.36x | 0.01x | 0.01x | 0.01x |
| Debt / EBITDA | 0.05x | 8.82x | 8.25x | 9.13x | 4.36x | 0.19x | 0.14x | 0.11x |
| Net Debt / EBITDA | -0.32x | 8.19x | 7.74x | 8.48x | 3.71x | -0.05x | -0.20x | -0.11x |
| Interest Coverage | 0.71x | 0.44x | 0.41x | 0.41x | 1.50x | - | - | - |
| Total Equity | 6.45B | 6.52B | 6.54B | 6.92B | 7.1B | 9.4B | 9.99B | 10.03B |
| Equity Growth % | -3.6% | -0.38% | -5.43% | -2.55% | -24.47% | -5.87% | -0.44% | - |
| Book Value per Share | 18.16 | 18.43 | 18.60 | 19.74 | 20.29 | 26.86 | 28.54 | 28.66 |
| Total Shareholders' Equity | 6.38B | 6.45B | 6.47B | 6.85B | 7.03B | 9.33B | 9.92B | 9.96B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 10.36B | 10.81B | 11.01B |
| Retained Earnings | -1B | -931M | -571M | -254M | 6M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.2B | -1.18B | -1.39B | -1.25B | -1.26B | -1.03B | -889M | -1.05B |
| Minority Interest | 73M | 71M | 71M | 70M | 68M | 73M | 70M | 73M |
Persistent Net Margin Deficit
According to the provided quarterly balance sheet data, Bausch + Lomb's equity base has remained stagnant at approximately $6.4 billion since 2025Q1, while the accumulation of retained earnings losses, which reached -$1.0 billion in 2026Q1, suggests a weakening trajectory for long-term shareholder value creation.
The lack of growth in equity despite ongoing operational activity indicates that the company is struggling to retain earnings, likely due to the combination of interest expenses and integration costs. Investors should monitor whether this stagnation in equity reflects a structural inability to generate organic growth or merely the temporary impact of its post-separation transformation.
As reported in financial statements, the company's debt-to-equity ratio spiked to 0.82 in 2025Q4 before a significant reduction in 2026Q1, suggesting that management is actively managing its debt load, though the historical volatility in leverage warrants close scrutiny regarding future refinancing capabilities.
The sharp reduction in debt from $5.4 billion in 2025Q4 to $39 million in 2026Q1 appears anomalous and requires further investigation into whether this represents a debt-for-equity swap or a significant capital restructuring event. Such rapid shifts in the capital structure may imply underlying liquidity pressures that could impact the company's ability to fund future R&D initiatives.
Based on the company's reported figures, goodwill accounts for approximately $4.7 billion of the $13.8 billion total asset base as of 2026Q1, highlighting a heavy reliance on intangible assets that may be susceptible to future impairment charges if growth targets are not met.
The high concentration of goodwill relative to total assets suggests that the company's valuation is heavily tied to past acquisitions rather than tangible infrastructure. This composition may expose the balance sheet to significant volatility should the performance of acquired assets, such as the dry eye franchise, fail to meet internal expectations.
Data from the last ten quarters reveals that the current ratio has fluctuated between 1.51 and 1.74, indicating that while Bausch + Lomb maintains a sufficient short-term liquidity buffer, its cash position of $268 million in 2026Q1 remains modest relative to its operational scale.
The current ratio suggests that the company is capable of meeting its short-term obligations, yet the lack of consistent cash flow generation makes this liquidity buffer appear somewhat fragile. Investors should monitor whether the company's cash reserves are sufficient to support ongoing R&D and potential debt service requirements without further dilutive financing.
Quick answers to the most common questions about buying BLCO stock.
As of 2025, Bausch + Lomb Corporation (BLCO) had total assets of $14.02B including $2.98B in current assets.
Bausch + Lomb Corporation (BLCO) carries total debt of $5.37B, offset by $383.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Bausch + Lomb Corporation (BLCO) has total shareholders' equity (book value) of $6.45B ($18.43 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Bausch + Lomb Corporation (BLCO) reported a current ratio of 1.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.