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Bausch & Lomb cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$178M in Q3 2026 · $252M over twelve months

Operating cash flow$233M
Capital spending−$55.0M
Free cash flow+$178M
Cash / net income6.7×

Analysis

In Q3 2026, Bausch & Lomb generated $233M of operating cash flow and spent $55.0M on capital projects, leaving free cash flow of $178M. That is $115M more than in Q3 2025 ($63.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $554M; the largest uses were capital spending ($302M), other investing ($179M), taxes on employees’ shares ($29.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($146M), asset & business sales ($3.0M); the cash balance rose by $183M.

Operating cash flow was $233M against net income of $35.0M — 6.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$102M, payables +$60.0M, stock-based pay +$37.0M.

Free cash flow

Bausch & Lomb: free cash flow by quarterBausch & Lomb: free cash flow by quarter−$70.0MQ4 2024−$135MQ1 2025−$54.0MQ2 2025$63.0MQ3 2025$60.0MQ4 2025−$68.0MQ1 2026$82.0MQ2 2026$178MQ3 2026
Operating cash flow less capital spending.
Bausch & Lomb: operating cash flow against capital spendingBausch & Lomb: operating cash flow against capital spendingOperating cash flowCapital spending$22.0M$92.0MQ4 2024−$25.0M$110MQ1 2025$35.0M$89.0MQ2 2025$137M$74.0MQ3 2025$136M$76.0MQ4 2025$32.0M$100MQ1 2026$153M$71.0MQ2 2026$233M$55.0MQ3 2026
Latest (Q3 2026): Operating cash flow $233M, Capital spending $55.0M.

Capital allocation, year by year

Bausch & Lomb: where the cash came from (up) and went (down), by fiscal yearBausch & Lomb: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingFY2021: Operating cash flow $873MFY2021: Capital spending −$193M$873MFY2021FY2022: Operating cash flow $345MFY2022: Net borrowing $2.4BFY2022: Capital spending −$175M$2.8BFY2022FY2023: Operating cash flow −$17.0MFY2023: Net borrowing $2.1BFY2023: Asset sales $1.0MFY2023: Capital spending −$181M$2.1BFY2023FY2024: Operating cash flow $232MFY2024: Net borrowing $201MFY2024: Asset sales $2.0MFY2024: Capital spending −$291M$435MFY2024FY2025: Operating cash flow $283MFY2025: Net borrowing $261MFY2025: Asset sales $7.0MFY2025: Capital spending −$349M$551MFY2025
Over these 5 years operating cash flow totalled $1.7B; the largest uses were capital spending ($1.2B) and operating cash flow ($17.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$513M
Debt$5.0B
Net debt$4.5B
Due within a year$29.0M

Bausch & Lomb funds itself: free cash flow was $252M over the last twelve months, and $513M of cash and investments stands against $5.0B of debt ($29.0M due within a year, 17.7× covered by cash).

Bausch & Lomb: debt maturities by year (FY2025)Bausch & Lomb: debt maturities by year (FY2025)$29.0MYear 1$28.0MYear 2$1.9BYear 3$23.0MYear 4$123MYear 5$3.0BAfter year 5
Principal due in each year as disclosed in the annual report, against $513M of cash and investments now.

Where the cash came from and went

Bausch & Lomb: sources (+) and uses (−) of cash, Q3 2026Bausch & Lomb: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$233MCash drawn (+) / kept (−)−$137MCapital spending−$55.0MOther investing−$18.0MNet borrowing (+) / repaid (−)−$17.0MPartners−$3.0MTaxes on employees’ shares−$1.0MExchange rates−$1.0MOther financing−$1.0M
Bausch & Lomb: sources (+) and uses (−) of cash, TTM to Q3 2026Bausch & Lomb: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$554MCapital spending−$302MCash drawn (+) / kept (−)−$183MOther investing−$179MNet borrowing (+) / repaid (−)$146MTaxes on employees’ shares−$29.0MPartners−$10.0MAsset & business sales$3.0MExchange rates−$1.0MOther financing$1.0M

From profit to cash

Bausch & Lomb: net income to operating cash flow, Q3 2026Bausch & Lomb: net income to operating cash flow, Q3 2026Net income$35.0MDepreciation & amortization$102MStock-based pay$37.0MImpairments$4.0MOther non-cash−$3.0MReceivables$9.0MInventory−$7.0MPayables$60.0MPrepaid and other assets−$25.0MOperating cash flow$233M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$233M−$55.0M−$17.0M—−$137M$178M
Q2 2026$153M−$71.0M$49.0M—−$99.0M$82.0M
Q1 2026$32.0M−$100M−$3.0M$2.0M$118M−$68.0M
Q4 2025$136M−$76.0M$117M—−$65.0M$60.0M
Q3 2025$137M−$74.0M−$7.0M—−$60.0M$63.0M
Q2 2025$35.0M−$89.0M$111M—−$57.0M−$54.0M
Q1 2025−$25.0M−$110M$40.0M—$101M−$135M
Q4 2024$22.0M−$92.0M$149M—$34.0M−$70.0M

Bausch & Lomb: income statement and cash flow

Bausch & Lomb, Q3 2026: revenue $1.4B (+7% year over year), operating margin 11.3%. The chart follows the revenue to costs, profit and cash.

Bausch & Lomb: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.