Education
About Us
Working with TipRanks
Follow Us
Bristol-Myers Squibb (BMY)
NYSE:BMY
Top Page
Bristol-Myers Squibb
(NYSE:BMY)60Neutral
Positive Factors
Growth Catalysts
Momentum is building for the company's growth business with a strong launch from Cobenfy and outperformance from Camzyos, Reblozyl, and Breyanzi.
Product Launch
Promising early launch feedback for Cobenfy indicates strong access in Medicaid and Medicare, with progress in commercial areas leading to better-than-expected usage.
Negative Factors
Clinical Trial Results
Opdualag for the adjuvant treatment of patients with resected stage III-IV melanoma did not meet its primary endpoint of recurrence-free survival.
Generic Competition
Increased pressure on Revlimid due to deteriorating Medicare access and a rise in generic competition could impact financial performance.
Bristol-Myers Squibb (BMY) vs. S&P 500 (SPY)
Market Cap
$120.62B
Dividend Yield4.04%
Average Volume (3M)12.00M
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue Growth7.32%
EPS Growth-214.24%
CountryUS
Employees34,100
SectorHealthcare
Sector Strength74
IndustryPharmaceuticals
Share Statistics
EPS (TTM)-4.43
Shares Outstanding2,029,312,000
10 Day Avg. Volume12,414,845
30 Day Avg. Volume11,997,007
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.52
Price to Cash Flow (P/CF)6.80
P/FCF Ratio7.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$60.58Price Target Upside1.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
Bristol-Myers Squibb Business Overview & Revenue Model
Company DescriptionFounded in 1933, New York-based Bristol-Myers Squibb Co. is a global pharmaceutical company, which engages in the development, licensing, manufacturing, distribution, and sale of biopharmaceutical products in several therapeutic areas. These include cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders.
How the Company Makes MoneyBristol-Myers Squibb makes money primarily through the sale of prescription medications. The company's revenue model is based on the development and commercialization of proprietary drugs that address unmet medical needs. Key revenue streams include sales from leading drugs such as Opdivo, a cancer immunotherapy; Eliquis, an anticoagulant; and Revlimid, used in treating multiple myeloma. BMY also engages in strategic partnerships and collaborations with other pharmaceutical companies and research institutions to enhance its drug pipeline and expand its market reach. Additionally, the company invests in research and development to continuously innovate and bring new therapies to market, which contributes to its long-term revenue growth.
Bristol-Myers Squibb Financial Statement Overview
Summary
Bristol-Myers Squibb's financial health is stable with strong revenue growth and operational efficiency. Despite a significant net loss affecting profitability, the company maintains solid cash flow performance, though increased leverage poses long-term risks.Income Statement
Bristol-Myers Squibb's revenue has shown consistent growth with a 7.32% increase from 2023 to 2024. However, the company reported a significant net loss in 2024, causing a negative net profit margin. The EBIT margin improved to 59.48% in 2024, reflecting strong operational efficiency despite the net loss.70
Positive
Balance Sheet
The company's debt-to-equity ratio increased to 3.04 in 2024, indicating higher leverage, which could pose financial risks. Return on Equity became negative due to the net loss, but the equity ratio stands at 17.64%, suggesting moderate equity financing compared to total assets.65
Positive
Cash Flow
The operating cash flow improved to $15.19 billion in 2024, supporting strong cash generation capabilities. Free cash flow increased by 10.21% from 2023 to 2024, indicating robust cash flow management. The operating cash flow to net income ratio is strong, highlighting effective cash conversion despite the net loss.75
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 48.30B | 45.01B | 46.16B | 46.38B | 42.52B | Gross Profit |
| 36.35B | 34.31B | 36.02B | 36.45B | 30.75B | EBIT |
| 0.00 | 17.24B | 10.33B | 10.16B | 5.13B | EBITDA |
| 3.17B | 19.42B | 19.23B | 20.19B | 5.04B | Net Income Common Stockholders |
| -8.95B | 8.03B | 6.33B | 6.99B | -8.99B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 10.86B | 12.28B | 9.12B | 13.98B | 14.55B | Total Assets |
| 92.60B | 95.16B | 96.82B | 109.31B | 118.48B | Total Debt |
| 51.20B | 41.46B | 40.72B | 45.60B | 51.67B | Net Debt |
| 40.85B | 30.00B | 31.59B | 31.62B | 37.13B | Total Liabilities |
| 76.22B | 65.67B | 65.70B | 73.31B | 80.60B | Stockholders Equity |
| 16.34B | 29.43B | 31.06B | 35.95B | 37.82B |
| Cash Flow | Free Cash Flow | |||
| 13.94B | 12.65B | 11.95B | 15.23B | 13.30B | Operating Cash Flow |
| 15.19B | 13.86B | 13.07B | 16.21B | 14.05B | Investing Cash Flow |
| -21.35B | -2.29B | -1.06B | -538.00M | -10.86B | Financing Cash Flow |
| 5.13B | -9.42B | -16.96B | -16.22B | -1.15B |
Bristol-Myers Squibb Technical Analysis
Positive
59.44
Price Trends
57.19
Positive
56.23
Positive
50.36
Positive
Market Momentum
0.50
Negative
59.71
Neutral
90.86
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BMY, the sentiment is Positive. The current price of 59.44 is above the 20-day moving average (MA) of 57.14, above the 50-day MA of 57.19, and above the 200-day MA of 50.36, indicating a bullish trend. The MACD of 0.50 indicates Negative momentum. The RSI at 59.71 is Neutral, neither overbought nor oversold. The STOCH value of 90.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BMY.
Bristol-Myers Squibb Risk Analysis
Bristol-Myers Squibb disclosed 23 risk factors in its most recent earnings report. Bristol-Myers Squibb reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bristol-Myers Squibb Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $398.27B | 28.57 | 19.68% | 2.96% | -4.51% | 3.69% | |
75 Outperform | $167.71B | 41.29 | 69.59% | 2.94% | 18.64% | -39.39% | |
71 Outperform | $235.30B | 13.83 | 36.96% | 3.35% | 6.85% | 4577.79% | |
71 Outperform | $366.77B | 86.92 | 128.66% | 2.97% | 3.71% | -12.14% | |
69 Neutral | $145.93B | 18.28 | 8.68% | 6.44% | 8.77% | 272.80% | |
60 Neutral | $120.62B | ― | -54.78% | 4.04% | 7.32% | -214.24% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% |
* Healthcare Sector Average
Performance Comparison
BMY
Bristol-Myers Squibb
59.44
10.09
20.45%
AMGN
Amgen
312.19
43.72
16.28%
JNJ
Johnson & Johnson
165.42
10.42
6.72%
MRK
Merck & Company
92.56
-27.01
-22.59%
PFE
Pfizer
25.75
1.21
4.93%
ABBV
AbbVie
207.76
34.90
20.19%
Bristol-Myers Squibb Earnings Call Summary
Earnings Call Date: Feb 6, 2025 | % Change Since: -0.45% | Next Earnings Date: Apr 24, 2025
Earnings Call Sentiment Positive
The earnings call reflects a generally positive sentiment with strong growth in the company's key growth portfolio and significant achievements in commercial and R&D milestones. However, challenges remain in the legacy portfolio and impacts from Medicare Part D redesign. The company's strategic focus on operational excellence and financial discipline, along with accelerated R&D productivity, supports a positive outlook.Highlights
Strong Fourth Quarter and Full Year Performance
Closed 2024 with strong fourth quarter performance, reflecting another quarter of double-digit percentage increase for the growth portfolio. Full year growth portfolio delivered double-digit revenue growth led by BREYANZI, Krazati, Reblozyl, and Opdivo.
Commercial and R&D Milestones
Reestablished presence in neuroscience with the U.S. approval and launch of Cobenfy, the first novel mechanism for schizophrenia treatment in decades. U.S. approval of Opdivo Quvantic in late December to extend immuno-oncology reach.
Operational Excellence and Financial Discipline
Achieved most of the targeted $1.5 billion in savings, with significant reallocation towards high potential growth opportunities. Identified an additional $2 billion in savings to be realized by the end of 2027.
Accelerated R&D Productivity
Completed enrollment in the ODYSSEY study 6 months earlier than expected. Advanced timelines for clinical data readouts, including Cobenfy's ADEPT 2 study in Alzheimer's disease psychosis.
Promising Data and Pipeline
Multiple important registrational catalysts expected in 2025, including Milvexian in acute coronary syndrome and secondary stroke prevention, and Arlocell GPRC5D CAR-T in multiple myeloma.
Lowlights
Challenges with Legacy Portfolio
Higher sales of certain legacy brands were offset by the expected impact of increased generic volumes across products like Revlimid, ABRAXANE, SPRYCEL, and POMALYST.
Gross Margin Decline
Fourth quarter gross margin declined about 240 basis points, driven primarily by product mix.
Part D Redesign Impacts
Medicare Part D redesign to temper Eliquis growth in Q1 due to 10% manufacturer responsibility in initial coverage phase.
Cendakimab Development Halted
Decision made not to commercialize cendakimab based on current data and competitive position.
Company Guidance
During the Bristol-Myers Squibb fourth quarter 2024 earnings call, the company outlined its guidance for 2025, emphasizing a projected revenue of approximately $45.5 billion. Non-GAAP earnings per share are expected to range from $6.55 to $6.85, reflecting the expanded savings program. The company aims to achieve $1 billion of the additional $2 billion in savings by the end of 2025, contributing to its goal of becoming a leaner, more efficient organization. The call highlighted strong performance in 2024, with a 9% increase in fourth-quarter sales, driven by a 23% rise in growth portfolio sales, led by key brands like Reblozyl and Opdivo. Bristol-Myers Squibb also noted significant progress in R&D productivity, achieving milestones ahead of schedule, and plans to continue investing in high-potential growth opportunities.Bristol-Myers Squibb Corporate Events
Product-Related AnnouncementsBusiness Operations and StrategyFinancial Disclosures
Bristol-Myers Squibb Reports Strong Q4 2024 Financial Results
Positive
Feb 6, 2025
On February 6, 2025, Bristol-Myers Squibb announced its financial results for the fourth quarter and full year of 2024, highlighting a revenue increase to $12.3 billion for the fourth quarter, driven by its Growth Portfolio and increased demand for Eliquis. The company also reported achieving significant clinical and regulatory milestones, including the U.S. approval of Opdivo Qvantig and the launch of Cobenfy for schizophrenia treatment, positioning these developments as new growth drivers. The company aims for additional cost savings through its strategic productivity initiative, projecting $2 billion in savings by 2027.
Product-Related AnnouncementsM&A TransactionsBusiness Operations and Strategy
Bristol-Myers Squibb Unveils Strategic Growth Plan
Positive
Jan 13, 2025
Bristol-Myers Squibb presented a strategic plan at the J.P. Morgan Healthcare Conference, highlighting its commitment to achieving sustained top-tier growth by the end of the decade. The company outlined its focus on key growth brands, advancement of its late-stage pipeline assets, and operational excellence. The launch of Cobenfy for schizophrenia and expansion in key therapeutic areas such as neuroscience and immuno-oncology are crucial components of its growth strategy. The company has also bolstered its financial position through strategic acquisitions and productivity programs, positioning itself for future success and delivering compelling returns to shareholders.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.