Stock fact sheet · data as of
Bausch Health Companies Inc. (BHC): fair value, margin of safety and Wheel Score
Ticker symbol BHC · Healthcare · Drug Manufacturers - Specialty & Generic · Canada · Speculative
Is BHC undervalued?
BHC has a margin of safety of 94%: the stock closed at 8.34 on 5 Nov 2026 against a GLS average fair value of 145.40. 2 of the 2 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
The average is built from just 2 models (DCF, 10 Cap) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files BHC under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for BHC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 174.19 | +1989% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 116.61 | +1298% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -52.89 | -734% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 8.50 | +2% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Bausch Health Companies Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.8/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 0.8%, ROE -28.4%, ROA 0.6% - with debt at -38.35 times equity and a free-cash-flow yield of 58.5%.
Bausch Health Companies Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Product 99%, Product and Service, Other 1% (quarter Q3 FY2026).
Institutional ownership scores 8/10, insider activity 9/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 0.8% |
|---|---|---|---|
| GLS Moat | 4.8 / 10 | ROE | -28.4% |
| Debt / equity | -38.35 | ROA | 0.6% |
| Free-cash-flow yield | 58.5% | Payout ratio | 0% |
| Institutions | 8 / 10 | Insiders · Congress | 9 · 5 / 10 |
Wheel Score 53: Fair
A Wheel Score of 53 keeps Bausch Health Companies Inc. under 70, the mark only a stock that passes all 9 Wheel Trade Filters can reach: it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 5, can repay its debt - 14.8 years to repay its debt (over 3). The parts: value strong, premium strong, moat fair, health good, red flags strong, option trading good, stability fair.
Implied volatility is 58% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 46,148 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 3.5M shares a day on a market cap of $3.1B, with a beta of 0.37 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Fails | 14.8 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 94% below fair value | |
| Premium | Strong | implied volatility 58% | |
| Moat | Fair | moat 4.8/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Good | 1,424 contracts a day, 46,148 open interest | |
| Stability | Fair | beta 0.37, $3.1B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for BHC in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Drug Manufacturers - Specialty & Generic
The 12 companies below are the closest to Bausch Health Companies Inc. by market cap within the Drug Manufacturers - Specialty & Generic industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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| ALVO Alvotech | 4.67 | - | - | 14No options | $1.7B |
| ANIP ANI Pharmaceuticals, Inc. | 71.65 | 251.58 | +72% | 49Weak | $1.6B |
| SUPN Supernus, Inc. | 28.21 | 87.23 | +68% | 48Weak | $1.6B |
| PAHC Phibro Animal Health Corporation | 39.43 | 47.35 | +17% | 43Weak | $1.6B |
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| PCRX Pacira BioSciences, Inc. | 36.40 | 43.35 | +16% | 29Weak | $1.5B |
| ETON Eton Pharmaceuticals, Inc. | 50.72 | 15.29 | -232% | 26Weak | $1.4B |
| AMRX Amneal Pharmaceuticals, Inc. | 19.95 | 10.56 | -89% | 35Weak | $6.9B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about BHC
Is BHC undervalued right now?
By the GLS models, yes: at 8.34 the stock is 94% below the average fair value of 145.40 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of BHC and what does it mean?
BHC scores 53 out of 100 (Fair) - it fails Wheel Trade Filters 2, 5. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for BHC?
145.40 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Bausch Health Companies Inc. report earnings next?
No upcoming earnings date is recorded for BHC in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does BHC have listed options, and how liquid are they?
Yes. The nightly snapshot found 148 listed contracts with 46,148 open interest across all expiries and implied volatility of 58% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.