Bausch + Lomb Corporation

BLCO

Medical - Instruments & Supplies · Healthcare

Price

$16.26

-0.55 (-3.27%)

Market Cap

$5.80B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+1.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 350.0M (2021) → 353.8M (2025)

Bausch + Lomb makes products that help people see better. Its main products include contact lenses, lens care solutions, and eye health medicines and surgical equipment used by eye doctors and hospitals. The company is one of the largest eye health businesses in the world, with a history stretching back over 170 years.

Bausch + Lomb earns money by selling its products directly to consumers through stores and online, and to eye care professionals and hospitals. It operates in over 100 countries, with significant sales in North America, Europe, and Asia. The company's long brand history and wide product portfolio give it some competitive staying power, but it carries a heavy debt load inherited from its former parent company, Bausch Health, which remains a meaningful financial risk as the business works to grow revenue and improve its thin operating margins.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+66.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$371M/ year

↑ Rising (+8% vs prior year)

7.3% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

87.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~12 months

$268M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

Bausch + Lomb Corporation is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

56.6%

Premium pricing power — 56.6% gross margin

Operating Margin

4.7%

Thin — 4.7% operating margin

ROCE

0.9%

Weak — 0.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+7.8%

Steady sales growth (7.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

0.1%

Thin free cash flow (0.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

0.71x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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