Bausch Health Companies (TSE:BHC)
NYSE:BHC
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Bausch Health Companies
(NYSE:BHC)
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Rating:52Neutral
Price Target:
C$7.50
▼(-7.29% Downside)
Action:Reiterated
Date:05/04/26
The score is held back primarily by high leverage and negative equity (financial risk) alongside inconsistent bottom-line results. Offsetting this are solid recent operating/cash-flow execution and reaffirmed guidance from the latest earnings call, while technicals are neutral and valuation metrics are not supportive due to a negative P/E and no dividend yield.
Positive Factors
Consistent Revenue & EBITDA Growth
A multi-quarter streak of revenue and adjusted EBITDA growth demonstrates durable commercial execution across brands and geographies. Sustained top-line and operating-profit expansion points to stable demand, effective go-to-market strategy, and reduced single-product concentration risk over the next 2–6 months.
Negative Factors
Very High Leverage & Negative Equity
A structurally weak balance sheet with ~$20–22B of debt and persistent negative equity limits financial flexibility and increases vulnerability to earnings shocks. High leverage raises refinancing, covenant and rating risks, and amplifies downside in a cyclical or reimbursement‑driven revenue setback over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue & EBITDA Growth
A multi-quarter streak of revenue and adjusted EBITDA growth demonstrates durable commercial execution across brands and geographies. Sustained top-line and operating-profit expansion points to stable demand, effective go-to-market strategy, and reduced single-product concentration risk over the next 2–6 months.
Read all positive factors
Bausch Health Companies (BHC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.79B
Dividend YieldN/A
Average Volume (3M)367.76K
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue Growth7.58%
EPS Growth-2878.47%
CountryCA
Employees20,700
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-3.21
Shares Outstanding373,475,650
10 Day Avg. Volume439,770
30 Day Avg. Volume367,761
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)-4.65
Price to Sales (P/S)0.25
P/FCF Ratio2.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$10.55Price Target Upside30.36% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)5.9
Revenue Forecast (FY)C$14.62B
Bausch Health Companies Business Overview & Revenue Model
Company Description
Bausch Health Companies Inc., together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, an...
How the Company Makes Money
BHC makes money primarily by selling pharmaceutical and medical products across its business segments through wholesale distributors, pharmacies, hospitals, clinics, and other healthcare providers. Revenue is largely generated from: (1) prescripti...
Bausch Health Companies Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial execution with broad revenue and adjusted EBITDA growth across the company (notably Salix and Solta), improved margins, healthy cash flow and net debt reduction. Management reaffirmed guidance and highlighted strategic R&D progress (larsucosterol Phase III) and AI-driven commercial/R&D productivity gains. Offsetting risks include a decline in the Diversified segment, Canadian branded generic pressure, acquisition-related inventory costs at Solta, litigation-related cash outflows and policy/tariff and potential exclusivity risks for Xifaxan that could affect future cash flow. On balance, the positive operational momentum, sizable organic and reported growth, margin expansion and strong cash generation outweigh the headwinds described.Positive Updates
Consistent Top-Line and EBITDA Growth
Bausch Health (excluding Bausch & Lomb) reported revenue of $1.280 billion, up 14% reported and 9% organic year-over-year, and adjusted EBITDA of $673 million, up 17% year-over-year. The company has now delivered 12 consecutive quarters of year-over-year growth in both revenue and adjusted EBITDA for the Bausch Health segment (ex-B&L).
Negative Updates
Diversified Segment Revenue Decline
Diversified segment revenues were $185 million, down 10% reported year-over-year, largely driven by weakness in the neuroscience business and lower volumes (partially offset by favorable pricing).
Read all updates
Q1-2026 Updates
Positive
Negative
Consistent Top-Line and EBITDA Growth
Bausch Health (excluding Bausch & Lomb) reported revenue of $1.280 billion, up 14% reported and 9% organic year-over-year, and adjusted EBITDA of $673 million, up 17% year-over-year. The company has now delivered 12 consecutive quarters of year-over-year growth in both revenue and adjusted EBITDA for the Bausch Health segment (ex-B&L).
Read all positive updates
Company Guidance
Bausch Health (excluding Bausch & Lomb) reaffirmed full‑year 2026 guidance of revenue $5.250–$5.400 billion (midpoint $5.325 billion, ~3% YOY at the midpoint), adjusted EBITDA $2.875–$2.950 billion (midpoint $2.9125 billion, ~4% YOY at the midpoint) and adjusted operating cash flow $1.200–$1.275 billion (midpoint $1.2375 billion, ~4% YOY at the midpoint); the guidance is stated at current FX rates, includes the anticipated impact of new pharma tariffs expected to be effective September 29, 2026, and is effective as of the call (the company does not undertake an obligation to update it).Bausch Health Companies Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
18
Very Negative
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.76B | 10.45B | 9.63B | 8.76B | 8.12B | 8.43B |
| Gross Profit | 6.65B | 6.36B | 6.84B | 6.20B | 5.76B | 6.04B |
| EBITDA | 5.26B | 3.45B | 2.82B | 2.20B | 2.88B | 3.26B |
| Net Income | -1.19B | 159.75M | -46.00M | -592.00M | -212.00M | -937.00M |
Balance Sheet | ||||||
| Total Assets | 24.50B | 26.32B | 26.52B | 27.35B | 25.69B | 29.20B |
| Cash, Cash Equivalents and Short-Term Investments | 1.30B | 1.32B | 1.18B | 947.00M | 564.00M | 582.00M |
| Total Debt | 20.80B | 21.21B | 21.62B | 22.39B | 20.77B | 22.65B |
| Total Liabilities | 25.58B | 25.94B | 26.84B | 27.43B | 25.43B | 29.24B |
| Stockholders Equity | -2.06B | -552.99M | -1.28B | -1.02B | -692.00M | -106.00M |
Cash Flow | ||||||
| Free Cash Flow | 988.53M | 974.77M | 1.26B | 760.00M | -996.00M | 1.14B |
| Operating Cash Flow | 1.42B | 1.38B | 1.60B | 1.03B | -728.00M | 1.43B |
| Investing Cash Flow | -608.71M | -605.42M | -454.00M | -2.15B | -303.00M | 409.00M |
| Financing Cash Flow | -692.65M | -709.20M | -868.00M | 1.48B | -474.00M | -1.51B |
Bausch Health Companies Technical Analysis
Negative
8.09
Price Trends
7.45
Negative
8.13
Negative
8.73
Negative
Market Momentum
-0.06
Positive
43.42
Neutral
27.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BHC, the sentiment is Negative. The current price of 8.09 is above the 20-day moving average (MA) of 7.61, above the 50-day MA of 7.45, and below the 200-day MA of 8.73, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 43.42 is Neutral, neither overbought nor oversold. The STOCH value of 27.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BHC.
Bausch Health Companies Risk Analysis
Bausch Health Companies disclosed 58 risk factors in its most recent earnings report. Bausch Health Companies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bausch Health Companies Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | C$427.76M | 13.68 | 25.69% | ― | 27.57% | 226.76% | |
69 Neutral | C$801.92M | 13.85 | 0.73% | ― | 36.93% | -47.43% | |
69 Neutral | C$1.38B | 17.74 | -0.19% | ― | 27.16% | -103.47% | |
55 Neutral | C$145.11M | -10.87 | -16.54% | ― | -2.35% | 42.42% | |
55 Neutral | C$882.46M | -124.88 | -10.93% | 3.56% | 6.89% | -3468.85% | |
52 Neutral | C$2.79B | ― | 120.75% | ― | 7.58% | -2878.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.