Bausch HealthTSX:BHC +4.11%64 Piotroski F-Score is 5 as of Jun. 25, 2026, which is at its 10-year median of 5.00. GuruFocus rates TSX:BHC with a GF Score™ of 64/100 and a GF Value™ of C$11.06 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 981 Drug Manufacturers companies, Bausch Health ranks better than 61.26% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bausch Health has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Bausch Health's Piotroski F-Score or its related term are showing as below:
TSX:BHC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 7
Current: 5
During the past 13 years, the highest Piotroski F-Score of Bausch Health was 7. The lowest was 2. And the median was 5.
Bausch Health (TSX:BHC) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Bausch Health Piotroski F-Score Related Terms
Bausch Health Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Bausch Health's Piotroski F-Score 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.
For the Drug Manufacturers - Specialty & Generic subindustry, Bausch Health's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Bausch Health's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Bausch Health's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 202.286 + 247.629 + -154.504 + -1952.356 = C$-1,657 Mil. Cash Flow from Operations was 395.005 + 560.277 + 682.853 + 315.56 = C$1,954 Mil. Revenue was 3458.004 + 3708.895 + 3857.082 + 3462.928 = C$14,487 Mil. Gross Profit was 2413.769 + 2671.345 + 2756.241 + 2450.392 = C$10,292 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(37929.988 + 37267.169 + 37108.322 + 36371.897 + 33611.256) / 5 = C$36457.7264 Mil. Total Assets at the begining of this year (Mar25) was C$37,930 Mil. Long-Term Debt & Capital Lease Obligation was C$27,296 Mil. Total Current Assets was C$8,202 Mil. Total Current Liabilities was C$6,215 Mil.
Net Income was 13.705 + -115.141 + 132.497 + -83.265 = C$-52 Mil.
Revenue was 3293.311 + 3400.046 + 3645.807 + 3243.02 = C$13,582 Mil. Gross Profit was 2307.922 + 2457.244 + 2610.05 + 2236.665 = C$9,612 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(36429.437 + 36311.397 + 35951.084 + 37787.318 + 37929.988) / 5 = C$36881.8448 Mil. Total Assets at the begining of last year (Mar24) was C$36,429 Mil. Long-Term Debt & Capital Lease Obligation was C$30,475 Mil. Total Current Assets was C$8,229 Mil. Total Current Liabilities was C$6,110 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Bausch Health's current Net Income (TTM) was -1,657.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Bausch Health's return on assets of this year was -0.0436843. Bausch Health's return on assets of last year was -0.00143302.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Bausch Health's gearing of this year was 0.7487011. Bausch Health's gearing of last year was 0.82628505.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Bausch Health's current ratio of this year was 1.3196468. Bausch Health's current ratio of last year was 1.34680439.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Bausch Health's number of shares in issue this year was 372.8. Bausch Health's number of shares in issue last year was 369.6.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Bausch Health's gross margin of this year was 0.71041704. Bausch Health's gross margin of last year was 0.70768302.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Bausch Health's asset turnover of this year was 0.38193814. Bausch Health's asset turnover of last year was 0.37283541.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
0
+
1
+
0
+
1
+
1
+
0
+
0
+
1
+
1
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Bausch Health has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Bausch Health (TSX:BHC) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bausch Health and its competitors. This is near median its historical median of 5.00. Over the past decade, Bausch Health's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Bausch Health ranks #380 out of 981 companies in the Drug Manufacturers industry, placing it in the top 38.7%.
Is Bausch Health's Piotroski F-Score too high?
Bausch Health's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Drug Manufacturers industry median Piotroski F-Score is 5.00. Bausch Health's value of 5 is 0% at this industry median. Based on the distribution chart, Bausch Health ranks #380 out of 981 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Bausch Health has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bausch Health's Piotroski F-Score compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Bausch Health ranks #380 out of 981 companies for Piotroski F-Score. This puts Bausch Health in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Bausch Health's value of 5 is 0% at this benchmark. Historically, Bausch Health's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Bausch Health has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Drug Manufacturers company?
The median Piotroski F-Score among Drug Manufacturers companies is 5.00, based on 981 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bausch Health's current Piotroski F-Score of 5 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Bausch Health and its competitors. For the Drug Manufacturers industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bausch Health's current Piotroski F-Score is 5, which is near median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bausch Health stock overvalued right now?
Based on GuruFocus' analysis, Bausch Health (TSX:BHC) is currently considered Possible Value Trap. The stock's GF Value™ is C$11.06, compared to a current price of C$7.10 — trading 35.8% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Drug Manufacturers industry median of 5.00. Bausch Health's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Bausch Health (TSX:BHC), the current Piotroski F-Score is 5 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Bausch Health (TSX:BHC) Overvalued in 2026?
Based on GuruFocus' analysis, Bausch Health stock appears to be undervalued.
The current stock price of C$7.10 is trading 35.8% below its estimated GF Value™ of C$11.06.
GuruFocus considers Bausch Health to be Possible Value Trap.
Key valuation signals for TSX:BHC:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: C$11.06 vs. price of C$7.10 (35.8% below fair value)
Industry Position: 0% at the Drug Manufacturers median (#380 of 981)
No single metric tells the full story. See the TSX:BHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bausch Health Companies Inc is a world-wide specialty pharmaceutical, consumer health, and medical device company with a focus on branded products for the gastroenterology, hepatology, neurology and dermatology markets. The company reports revenue in five segments: Salix; International; Solta Medical; Diversified Products and Bausch + Lomb. It generates maximum of its revenue from the Bausch + Lomb segment.
64GF Score
Get the complete analysis for TSX:BHC
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSX:BHC has been successfully added to your 
