Bristol Myers Squibb (BMY)

Health Care · $126B market cap · SEC CIK 0000014272

Next reports on Feb 3, 2027, after the close, with analysts expecting $1.50 in earnings per share.

52-week range $45.27 to $68.64. 9% below its 52-week high and 39% above its low.

The case for BMY

• Earns 44% back on shareholder equity.
• Generated $12.8B of free cash flow in FY2025, 27% of revenue.
• Free cash flow of 10.2% of its market value a year: a lot of cash for the price.
• Earnings per share up 52.4%.
• Pays a 4.6% dividend while you wait.
• Reasonably priced for its growth: 13.6× earnings, where 3% a year of growth plus a 4.6% dividend would justify about 19×.

The case against

• Weakest against its peers: revenue growth of +4.2% is slower than 84% of Health Care companies.
• Its weakest area is growth (49/100): revenue +4.2%, EPS +52.4%, +2.5% a year over five years.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Health Care companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 59 Health Care companies.

The financials

The financials, five years deep

Pulled from Bristol Myers Squibb's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Bristol Myers Squibb says it does

Bristol-Myers Squibb Company ("we", the "Company", "Bristol Myers Squibb", or "BMS") was incorporated under the laws of the State of Delaware in August 1933 under the name Bristol-Myers Company, as successor to a New York business started in 1887. In 1989, Bristol-Myers Company changed its name to Bristol-Myers Squibb Company as a result of a merger. We operate in a single segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines that help patients prevail over serious diseases. Our principal strategy is to combine the resources, scale and capability of a large pharmaceutical company with the speed, agility and focus on innovation typically found in the biotech industry. Our focus as a biopharmaceutical company is on discovering, developing and delivering transformational medicines for patients facing serious diseases in areas where we believe that we have an…

Risk factors BMY lists in its 10-K

• Increased pricing pressure and other restrictions in the U.S. and abroad continue to negatively affect our revenues and profit margins
• “Item 1. Business—Pricing, Price Constraints and Market Access.”
• We are also unable to predict if and when any changes to laws or regulatory policies will occur and how they will affect our business and particularly our pipeline of new products
• We could lose market exclusivity of a product earlier than expected
• There is no assurance that a particular product will enjoy market exclusivity for the full time period that appears in the estimates disclosed in this 2025 Form 10-K or that we assume when we provide our financial guidance
• We face intense competition from other biopharmaceutical companies and manufacturers and expect to see increasing market penetration of lower-priced generic products
• We could experience difficulties, delays and disruptions in our supply chain as well as in the manufacturing, distribution and sale of our products
• Litigation claiming infringement of intellectual property may adversely affect our future revenues and operating earnings
• Legal matters could negatively affect our business
• We are subject to a variety of U.S. and international laws and regulations
• brand and reputation, reduced demand for our products, inability to attract and retain employee talent or other negative impacts on our business and operations
• Changes to tax regulations could negatively impact our earnings
• The failure of third parties to meet their contractual, regulatory and other obligations could adversely affect our business
• Product labeling changes for our marketed products could result in a negative impact on revenues and profit margins
• The illegal distribution and sale by third parties of counterfeit or unregistered versions of our products or stolen products could have a negative impact on our revenues, earnings, reputation and business
• Use of social media platforms can present risks and challenges
• We depend on several key products for most of our revenues, cash flows and earnings
• Third-party royalties represent a significant percentage of our pretax income and operating cash flow
• imposed on us that could have a material adverse effect on our competitive position, cash flows, results of operations, financial condition or reputation
• Failure to attract and retain a highly qualified workforce or to maintain our workplace culture could affect our ability to successfully develop and commercialize products
• We have significant indebtedness that could have negative consequences
• Adverse changes in U.S. and global economic and political conditions could adversely affect our operations and profitability
• There can be no guarantee that we will pay dividends or repurchase stock

Filings

Other Health Care companies