Latest Ratios: P/E Ratio -16.8x · EV/EBITDA 18.2x · ROE -5.5%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.1B | $6.0B | $6.4B | $6.0B | $5.4B | — | — | — |
| Enterprise Value | $11.1B | $11.0B | $11.0B | $10.3B | $7.6B | — | — | — |
| P/E Ratio → | -16.76 | — | — | — | 361.54 | — | — | — |
| P/S Ratio | 1.20 | 1.18 | 1.33 | 1.44 | 1.44 | — | — | — |
| P/B Ratio | 0.93 | 0.93 | 0.97 | 0.86 | 0.76 | — | — | — |
| P/FCF | — | — | — | — | 31.93 | — | — | — |
| P/OCF | 21.54 | 21.35 | 27.39 | — | 15.73 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.16 | 2.29 | 2.49 | 2.02 | — | — | — |
| EV / EBITDA | 18.20 | 18.11 | 18.37 | 20.16 | 12.97 | — | — | — |
| EV / EBIT | 58.96 | 58.67 | 66.57 | 88.22 | 34.71 | — | — | — |
| EV / FCF | — | — | — | — | 44.72 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.8% | 54.8% | 60.9% | 60.4% | 59.7% | 61.0% | 62.3% | 64.9% |
| Operating Margin | 3.7% | 3.7% | 3.4% | 3.1% | 5.5% | 8.7% | 7.6% | 10.5% |
| Net Profit Margin | -7.1% | -7.1% | -6.6% | -6.3% | 0.2% | 4.8% | -0.5% | 7.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -5.5% | -5.5% | -4.7% | -3.7% | 0.1% | 1.9% | -0.2% | 3.0% |
| ROA | -2.6% | -2.6% | -2.4% | -2.1% | 0.1% | 1.6% | -0.2% | 2.6% |
| ROIC | 1.2% | 1.2% | 1.1% | 0.9% | 1.7% | 2.6% | 2.0% | 3.0% |
| ROCE | 1.6% | 1.6% | 1.4% | 1.2% | 2.1% | 3.3% | 2.5% | 3.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.82 | 0.82 | 0.75 | 0.68 | 0.36 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | 8.82 | 8.82 | 8.25 | 9.13 | 4.36 | 0.19 | 0.14 | 0.11 |
| Net Debt / Equity | — | 0.76 | 0.71 | 0.63 | 0.31 | -0.00 | -0.01 | -0.01 |
| Net Debt / EBITDA | 8.19 | 8.19 | 7.74 | 8.48 | 3.71 | -0.05 | -0.20 | -0.11 |
| Debt / FCF | — | — | — | — | 12.79 | -0.05 | -0.52 | -0.16 |
| Interest Coverage | 0.44 | 0.44 | 0.41 | 0.41 | 1.50 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.55 | 1.55 | 1.60 | 1.74 | 1.65 | 1.49 | 1.82 | 1.64 |
| Quick Ratio | 1.04 | 1.04 | 1.01 | 1.09 | 1.16 | 0.97 | 1.14 | 1.07 |
| Cash Ratio | 0.20 | 0.20 | 0.18 | 0.21 | 0.29 | 0.16 | 0.26 | 0.19 |
| Asset Turnover | — | 0.36 | 0.36 | 0.31 | 0.34 | 0.35 | 0.30 | 0.33 |
| Inventory Turnover | 2.36 | 2.36 | 1.81 | 1.60 | 2.42 | 2.56 | 2.09 | 2.24 |
| Days Sales Outstanding | — | 87.37 | 78.17 | 77.03 | 70.33 | 69.90 | 69.00 | 68.88 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 0.3% | — | — | — |
| FCF Yield | — | — | — | — | 3.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $354M | $352M | $351M | $350M | $350M | $350M | $350M |
Persistent Net Margin Deficit
According to current market data, BLCO trades at a forward P/E of 20.25, which appears to bake in significant recovery expectations that remain unsupported by the company's recent negative net margin performance of -5.7% as reported in the most recent quarterly financial filings.
The negative trailing P/E ratio highlights the disconnect between current market pricing and the company's inability to consistently generate bottom-line profitability. Investors should monitor whether the forward multiple is overly optimistic, as it assumes a rapid transition to positive earnings that may be hindered by ongoing integration costs and interest burdens.
As reported in financial statements, BLCO's ROIC has struggled to maintain positive territory, hovering near 0.5% in 2026Q1, which suggests that the company is failing to generate returns on invested capital that exceed its likely cost of capital compared to historical industry benchmarks.
The persistent inability to drive meaningful returns on capital indicates that the company's asset base, heavily weighted toward intangibles, is not yet contributing to value creation. This trend warrants further investigation into whether the current capital allocation strategy is effectively prioritizing high-margin growth or merely sustaining a bloated asset structure.
Based on reported figures, the company's cash conversion cycle has remained elevated at 181 days in 2026Q1, reflecting significant inefficiencies in inventory management and collection cycles when compared to the more streamlined operational profiles of its primary medical device and pharmaceutical peers.
The high days inventory outstanding, which reached 163 days in the most recent quarter, suggests that the company may be carrying excess stock or struggling with product turnover in its surgical and consumer segments. This inefficiency ties up critical liquidity and limits the company's ability to self-fund its R&D and expansion initiatives.
According to recent quarterly data, the interest coverage ratio has fluctuated wildly, dropping to 0.59 in 2026Q1, which suggests that the company's ability to comfortably service its debt obligations is increasingly precarious in the current interest rate environment compared to its own historical performance.
The volatility in interest coverage, combined with a debt-to-EBITDA ratio that has seen significant spikes, indicates that the company's balance sheet is sensitive to operational downturns. Investors should monitor whether management can stabilize cash flows to ensure that debt service does not become a structural constraint on future growth.
The P/E ratio is frequently misapplied to BLCO, as it obscures the massive impact of non-cash intangible asset amortization and one-time separation costs that distort GAAP earnings, making EV/EBITDA a more reliable metric for assessing the company's true operational earning power.
Relying on P/E ratios in this context ignores the significant gap between reported net income and actual cash generation, which is common in companies undergoing complex spin-offs. Analysts should instead focus on EV/EBITDA to normalize for capital structure and non-cash charges, providing a clearer view of the underlying business performance.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying BLCO stock.
Bausch + Lomb Corporation's current P/E ratio is -16.8x. This places it at the 50th percentile of its historical range.
Bausch + Lomb Corporation's current EV/EBITDA is 18.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.4x.
Bausch + Lomb Corporation's return on equity (ROE) is -5.5%. The historical average is -1.3%.
Based on historical data, Bausch + Lomb Corporation is trading at a P/E of -16.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bausch + Lomb Corporation has 54.8% gross margin and 3.7% operating margin.
Bausch + Lomb Corporation's Debt/EBITDA ratio is 8.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.