Bristol-Myers Squibb CompanyBMY
NYSE•Healthcare•Drug Manufacturers - General
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience, and other areas. The company's products include Opdivo for various anti-cancer indications; Opdivo Qvantig, a subcutaneous PD-1 inhibitor for solid tumorsr; Orencia for active rheumatoid arthritis and psoriatic arthritis; Yervoy for the treatment of patients with unresectable or metastatic melanoma; Reblozyl to treat anemia; Breyanzi for the treatment of patients with relapsed or refractory large B-cell lymphoma; Opdualag for the treatment of unresectable or metastatic melanoma; and Camzyos to treat symptomatic obstructive HCM to improve functional capacity and symptom. It also offers Zeposia to treat relapsing forms of multiple sclerosis; Abecma for the treatment of patients with relapsed or refractory multiple myeloma; Sotyktu for the treatment of moderate-to-severe plaque psoriasis; Krazati for the treatment of adult patients with KRASG12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC); and Cobenfy to treat schizophrenia. In addition, it offers Eliquis for a reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation and for the treatment of DVT/PE; Revlimid, an oral immunomodulatory drug to treat multiple myeloma; Pomalyst/Imnovid for multiple myeloma; Sprycel for Philadelphia chromosome-positive chronic myeloid leukemia; and Abraxane for the treatment of breast cancer. Further, it provides Augtyro for the treatment of locally advanced or metastatic ROS1-positive NSCLC; and NSCLC and pancreatic cancer. It sells products to wholesalers, distributors, specialty pharmacies, and to a lesser extent, retailers, hospitals, clinics, and government agencies. The company was formerly known as Bristol-Myers Company. The company was founded in 1887 and is headquartered in Princeton, New Jersey.
Bristol-Myers Squibb Company (BMY) reported trailing twelve months revenue of $48.48B as of March 2026, a 1.8% increase year-over-year. Quarterly revenue reached $11.49B, reflecting continued top-line momentum.
Bristol-Myers Squibb Company generated $7.28B in TTM net income, with quarterly EBITDA of $4.40B. The operating margin contracted from 38.6% to 33.1%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (33.1%) and net margin (23.3%) indicates moderate non-operating costs. Net margin has improved from 21.9% a year ago, signaling stronger bottom-line efficiency.
BMY trades at a P/E of 16.7x (in line with broad market averages) and a P/S of 2.5x. The price-to-book ratio of 6.1x indicates a significant premium over book value.
The company generated $757.00M in free cash flow over the trailing twelve months, a 55.3% decrease year-over-year, indicating cash generation ability. The balance sheet shows $86.48B in total assets with $42.15B in long-term debt against $20.10B in stockholders equity for a debt-to-equity ratio of 2.1, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~33.1%, suggesting durable pricing power and cost discipline.
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 6 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~34.1% — no sign of cost or pricing stress.
FCF covers net income by 8.7x on average — earnings are well-supported by cash generation.
D/E ratio of 2.1 is elevated. Monitor for further debt accumulation.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation