Bausch + Lomb Corporation (BLCO) Stock

Bausch + Lomb Corporation (BLCO) is a Healthcare stock trading at $18.01 (as of 2026-09-02), with a market capitalization of $6.43B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Bausch + Lomb Corporation operates as an eye health company worldwide. It operates through three segments: Vision Care/Consumer Health Care, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care/Consumer Health Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, and dry eye. The Ophthalmic Pharmaceuticals segment offers proprietary and generic pharmaceutical products for post-operative treatments, as well as for the treatment of eye conditions, such as glaucoma, ocular hypertension, and retinal diseases; and contact lenses for therapeutic use. The Surgical segment provides tools and technologies for the treatment of cataracts, and vitreous and retinal eye conditions; and intraocular lenses and delivery systems, phacoemulsification equipment, and other surgical instruments and devices. The company was founded in 1853 and is headquartered in Vaughan, Canada.

Understand Bausch + Lomb Corporation: how it makes money

Bausch + Lomb sells contact lenses, eye drops, vitamins, dry-eye drugs, and intraocular lenses to eye care doctors and consumers. Most revenue is recurring consumables, with a smaller but faster-growing pharma slice and surgical procedures rounding out the mix.

Contact lens volume (51% of revenue) provides the cash engine, but at 6% operating margin the company is essentially trading high-volume disposables for just enough profit to fund its smaller pharma and surgical lines.

Revenue by segment (latest quarter)
Vision Care$0.7B
Pharmaceuticals$0.3B
Surgical$0.2B

Business quality (Weak): The 6% operating margin and negative 3% ROE place Bausch + Lomb in the weak tier. Growth is present across all segments, but the company has not yet proven it can convert top-line gains into durable shareholder returns.

Bull case

  • Pharma segment accelerating: Pharmaceuticals revenue grew 14.2% YoY to $300M, roughly double the pace of total company growth. This is the fastest-growing piece of the business and keeps the growth narrative intact even if the lens plant slows.
  • Consumables anchor recurring revenue: Vision Care generated $710M, equal to 51% of total revenue, growing 8.4% YoY. Contact lenses are repeat purchases that give the company a predictable, volume-driven base less exposed to one-off surgical procedure cycles.

Bear case

  • Margins too thin to compound: Operating margin sits at just 6% on $1.4B of quarterly revenue. Even with 9% top-line growth, the profit pool the company builds on is narrow, making it hard to outgrow cost structure and free up meaningful cash for reinvestment or buybacks.
  • Shareholder equity still eroding: ROE is negative at 3%, signaling the company is still destroying book value per share. Accumulated losses or restructuring costs have not yet been offset by the current sales recovery, so the equity story lags the revenue story.
Valuation — source: SEC EDGAR (first-party)
Price$18.01
Market Cap$6.43B
EV / EBITDA15.0
Price / Book1.00
Price / Sales1.21
FCF Yield-1.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$5.10B
Net Margin-7.1%
Revenue Growth (YoY)9.1%
EPS Growth (YoY)-77.8%
FCF Growth (YoY)-251.9%
Financial Health — source: SEC EDGAR
Altman Z-Score0.90 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)29.8
Company
SectorHealthcare
IndustryMedical Equipment
CEOBrenton L. Saunders
Employees13,500
CountryCA
IPO Date2022-05-06

Related Companies (Medical Equipment; 8 comparable device makers)

  • The Cooper Companies, Inc. (COO)
  • Baxter International Inc. (BAX)
  • National Vision Holdings, Inc. (EYE)
  • AptarGroup, Inc. (ATR)
  • Agilent Technologies, Inc. (A)
  • ResMed Inc. (RMD)
  • Mettler-Toledo International Inc. (MTD)
  • West Pharmaceutical Services, Inc. (WST)
BLCO earnings history · BLCO institutional & insider holders · BLCO KPIs & operating metrics · BLCO financials · BLCO investor presentations & press releases · BLCO SEC filings · BLCO peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.