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Specialty pharmaceutical company selling gastrointestinal, dermatology, neurology and international generics products.
Specialty pharmaceutical company selling gastrointestinal, dermatology, neurology and international generics products.
Revenue comes mainly from branded prescription drugs and medical devices, where patents and regulatory exclusivity allow firm pricing, plus the eye-care business Bausch + Lomb, which it listed in 2022 while keeping control. Heavy debt left from the Valeant-era acquisition spree means a large share of cash flow goes to servicing and refinancing it.
Moat: narrow (IP / patents, distribution). Xifaxan and other branded drugs have patent/exclusivity protection and established prescriber relationships.
Headquarters: Laval, Canada · Employees: 20,300
Size Bausch Health Companies (BHC.TO) is a Canada Health Care company (Pharmaceuticals: Other) with a market value of $3.09B, the 155th largest of 420 Canada companies the cockpit tracks. Shares closed at C$11.56 on 6 Nov 2026.
Performance Over six months the shares gained 47.8%, against -2.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +7.1%); the operating margin is 27.2% (peer median 15.5%).
Valuation It trades at 1.9× forward earnings against a peer median of 18.3× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$15.4B | C$14.3B | C$13.2B | C$11.8B | C$10.6B |
| Revenue growth | — | +9% | +12% | +12% | — |
| Gross profit | C$9.91B | C$8.74B | C$7.90B | C$6.91B | C$5.92B |
| EBITDA | C$5.79B | C$4.74B | C$4.28B | C$3.87B | C$3.63B |
| Net income | -C$1.14B | C$219M | -C$63.0M | -C$799M | -C$293M |
| Free cash flow | C$2.58B | C$1.34B | C$1.72B | C$1.05B | -C$1.32B |
| Capital expenditure | C$530M | C$569M | C$466M | C$367M | C$349M |
| Total debt | C$29.4B | C$28.9B | C$31.4B | C$29.8B | C$28.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bausch Health Companies BHC.TO | $3.09B | +48% | +10% | 27% | 1.9× | -14.5% |
| Bausch + Lomb BLCO.TO | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% |
| Organon & OGN | $3.64B | +4% | -3% | 20% | 4.0× | -4.5% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
| Galderma GALD.SW | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% |
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BHC.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +31.5% | +1.7% | 2nd highest of 21 |
| 6-month return | +47.8% | -2.5% | 3rd highest of 21 |
| Distance from 52-week high | -8.6% | -19.5% | 5th highest of 21 |
| Revenue growth (TTM) | +10.1% | +7.1% | 10th highest of 21 |
| Operating margin | 27.2% | 15.5% | 5th highest of 21 |
| Forward P/E | 1.9× | 18.3× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -14.5% | 0.9% | least demanding of 20 |
| Growth delivered (Del g) | +5.9% | +5.9% | 10th lowest of 20 |
| Hurdle (Req g minus delivered) | -20.4 pp | -7.3 pp | 3rd least demanding of 20 |
| ROIC minus cost of capital | +6.5 pp | +2.7 pp | 9th highest of 21 |
| EV / EBITDA | 5.5× | 18.2× | cheapest of 9 |
| Net debt / EBITDA | 4.5× | 0.0× | most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bausch Health Companies BHC.TO | Canada | $3.09B | +48% | +10% | 27% | 1.9× | -14.5% | +5.9% |
| Guangdong Zhongsheng Pharmaceutical 002317.SZ | China | $3.13B | +35% | -14% | 9% | 80.3× | 34.7% | +5.9% |
| Jilin Aodong Pharmaceutical 000623.SZ | China | $3.02B | -9% | -4% | -13% | n/a | 5.2% | +1.0% |
| By-health 300146.SZ | China | $2.61B | -1% | +10% | 11% | 25.0× | 5.1% | +0.6% |
| China Resources Double-Crane Pharmaceutical 600062.SS | China | $2.50B | -10% | -1% | 13% | 9.8× | -8.3% | +5.3% |
| Shijiazhuang Yiling Pharmaceutical 002603.SZ | China | $4.02B | -6% | +32% | 21% | 18.1× | -3.2% | -2.2% |
| China Resources Jiangzhong Pharmaceutical 600750.SS | China | $2.19B | -3% | -10% | 24% | 15.7× | -2.5% | +11.6% |
| Granules India GRANULES.NS | India | $2.10B | +8% | +22% | 17% | 24.9× | 23.5% | +10.6% |
| Health and Happiness (H&H) International 1112.HK | Hong Kong | $2.05B | +70% | +24% | 16% | 12.6× | -3.0% | +4.4% |
| China Meheco 600056.SS | China | $2.00B | -14% | +2% | 3% | n/a | -0.8% | -2.1% |
| Dong-E-E-Jiao 000423.SZ | China | $4.80B | -8% | +8% | 29% | 17.1× | -4.6% | +14.5% |
| Porton Pharma Solutions 300363.SZ | China | $1.92B | +14% | +6% | -2% | n/a | 5.3% | +10.4% |
| Tibet Cheezheng Tibetan Medicine 002287.SZ | China | $1.66B | -15% | -7% | 28% | n/a | -1.1% | +10.4% |
| Zhejiang Medicine 600216.SS | China | $1.61B | -23% | -6% | 7% | 11.3× | -6.7% | +3.9% |
| Bora Pharmaceuticals 6472.TW | Taiwan | $1.55B | -2% | -6% | 15% | 14.2× | 4.5% | +60.2% |
| Guilin Sanjin Pharmaceutical 002275.SZ | China | $1.53B | +27% | -3% | 24% | 18.6× | -2.2% | +5.5% |
| Sudeep Pharma SUDEEPPHRM.NS | India | $1.41B | +75% | +27% | 33% | 67.7× | n/a | n/a |
| Jamieson Wellness JWEL.TO | Canada | $1.35B | +35% | +15% | 15% | 21.2× | 11.0% | +15.3% |
| Cronos CRON.TO | Canada | $1.34B | +45% | +36% | -2% | 15.6× | 2.1% | +26.7% |
| Pharma Mar PHM.MC | Spain | $1.30B | -33% | +32% | 19% | 37.7× | 11.4% | -3.9% |
| BioGaia BIOG-B.ST | Sweden | $1.26B | -7% | +13% | 28% | 30.1× | 0.9% | +15.5% |