Bausch Health Companies Inc. (BHC) intrinsic value & 10-year financials
Bausch Health Companies Inc. (BHC) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 0.7% a year to $10.3B, with an average return on invested capital of 0.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $6.30
- Market cap
- $2.4B
- Revenue (FY2025)
- $10.3B
- Revenue growth (10-yr CAGR)
- 0.7%
- ROIC (10-yr avg)
- 0.8%
- Free cash flow (FY2025)
- $1.0B
BHC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.3B | $157.0M | $0.42 | $1.0B | 17.7% | 4.7% |
| FY2024 | $9.6B | -$46.0M | -$0.13 | $1.3B | 16.1% | 3.9% |
| FY2023 | $8.8B | -$592.0M | -$1.62 | $817.0M | 11.0% | 4.8% |
| FY2022 | $8.1B | -$225.0M | -$0.62 | -$946.0M | 5.6% | 2.2% |
| FY2021 | $8.4B | -$948.0M | -$2.64 | $1.2B | 5.3% | 1.8% |
| FY2020 | $8.0B | -$560.0M | -$1.58 | $809.0M | 8.4% | 1.7% |
| FY2019 | $8.6B | -$1.8B | -$5.08 | $1.2B | -2.4% | -0.8% |
| FY2018 | $8.4B | -$4.1B | -$11.81 | $1.3B | -28.4% | -8.4% |
| FY2017 | $8.7B | $2.4B | $6.83 | $2.1B | 1.2% | 0.2% |
| FY2016 | $9.7B | -$2.4B | -$6.94 | $1.9B | -5.9% | -1.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Bausch Health Companies Inc. has demonstrated mature, steady growth, with revenue compounding at 0.7% annually over the past decade.
Bausch Health Companies Inc. has historically struggled to out-earn its cost of capital, averaging just 0.8% ROIC.
Bausch Health Companies Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Bausch Health Companies Inc. is modeled at -29.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-18.25 per share.