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Bausch Health Earnings Yield (Joel Greenblatt) %

: 3.05% (As of Mar. 2022)
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Bausch Health's Enterprise Value for the quarter that ended in Mar. 2022 was $30,250 Mil. Bausch Health's EBIT for the trailing twelve months (TTM) ended in Mar. 2022 was $905 Mil. Bausch Health's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2022 was 3.05%.

The historical rank and industry rank for Bausch Health's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

BHC' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -8.95   Med: 0.37   Max: 3.89
Current: 3.79

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Bausch Health was 3.89%. The lowest was -8.95%. And the median was 0.37%.

BHC's Earnings Yield (Joel Greenblatt) % is ranked better than
56.4% of 1117 companies
in the Drug Manufacturers industry
Industry Median: 2.49 vs BHC: 3.79

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Bausch Health's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2022 was 24.20%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Bausch Health Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Bausch Health's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bausch Health Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.31 -8.16 -0.68 1.95 1.26

Bausch Health Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.52 -0.19 0.11 1.26 3.05

Competitive Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Bausch Health's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Bausch Health Earnings Yield (Joel Greenblatt) % Distribution

For the Drug Manufacturers industry and Healthcare sector, Bausch Health's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Bausch Health's Earnings Yield (Joel Greenblatt) % falls into.



Bausch Health Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Bausch Healths Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=402/32067.19966
=1.25 %

Bausch Health's EBIT for the trailing twelve months (TTM) ended in Mar. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $905 Mil.



Bausch Health  (NYSE:BHC) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Bausch Health Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Bausch Health's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Bausch Health Business Description

Bausch Health logo
Address
2150 Saint Elzear Boulvard West, Laval, QC, CAN, H7L 4A8
Bausch Health Companies Inc develop, manufacture and market, primarily in the therapeutic areas of eye-health, gastroenterology and dermatology, a broad range of branded pharmaceuticals, generic and branded generic pharmaceuticals, over-the-counter products and medical devices, which are marketed directly or indirectly in approximately 100 countries. The company's business segments are Bausch + Lomb, Salix, International Rx, Ortho Dermatologics and Diversified Products with maximum revenue from Bausch + Lomb segment.
Executives
Carson Seana officer: EVP, General Counsel 400 SOMERSET CORPORATE BLVD BRIDGEWATER NJ 08807
Vadaketh Tom George officer: EVP, Chief Financial Officer 1727 JOCKEYS WAY YARDLEY PA 19067
Mulligan Richard director C/O ICAHN CAPITAL LP 767 FIFTH AVENUE, SUITE 4700 NEW YORK NY 10153
Munsch Frederick officer: SVP, Controller and CAO 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Gordon Joseph F officer: Pres&Co-Head Bausch&Lomb/Int'l 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Ackermann Christina officer: EVP AND GENERAL COUNSEL C/O BLCO 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Spurr Robert director, officer: U.S. President-Pharma Business C/O BAUSCH HEALTH COMPANIES INC. 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Eldessouky Sam officer: EVP & Chief Financial Officer C/O BAUSCH HEALTH COMPANIES INC. 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Miller Steven D director 16690 COLLINS AVENUE PH SUNNY ISLE BEACH FL 33160
Icahn Brett director C/O ICAHN ENTERPRISES L.P. 16690 COLLINS AVE., PH SUNNY ISLES FL 33160
Paulson John director 1133 AVENUE OF THE AMERICAS 33RD FLOOR NEW YORK NY 10036
Valueact Holdings Ii, L.p. director, other: See Remarks ONE LETTERMAN DRIVE BUILDING D, FOURTH FLOOR SAN FRANCISCO CA 94129
Von Eschenbach Andrew C. director BAUSCH HEALTH COMPANIES INC. 400 SOMERSET CORPORATE BLVD. BRIDGEWATER NJ 08807
Mckenna Mark C. officer: President, Salix 400 SOMERSET CORPORATE BOULEVARD BRIDGEWATER NJ 08807
Humphries William D. officer: EVP, COMPANY GROUP CHAIRMAN C/O STRATA SKIN SCIENCES, INC. 5 WALNUT GROVE DRIVE SUITE 140 HORSHAM PA 19044

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