Want to see BMY full AI Analyst Report?
Top Page
Bristol-Myers Squibb
(NYSE:BMY)
Select Model
Select Model
Rating:74Outperform
Price Target:
$73.00
â–²(26.87% Upside)
Action:Reiterated
Date:07/31/26
The score is driven by strong current cash generation and profitability, reinforced by a positive earnings update with raised 2026 guidance and broad growth-portfolio momentum. Supporting factors include a favorable technical trend (price above major moving averages) and a solid dividend yield. The main risks holding the score back are elevated leverage and pipeline/timing uncertainties alongside continued legacy portfolio erosion.
Positive Factors
Cash generation
Consistent, large free cash flow and high conversion versus reported earnings provide durable funding for debt reduction, shareholder returns, and sustained investment in launches. This cash buffer improves resilience through product cycles and funds late‑stage programs without relying on external financing.
Negative Factors
Elevated leverage
Meaningful leverage reduces financial flexibility and amplifies risk if growth slows or launches are delayed. Even with improving trends and strong ROE, higher indebtedness constrains capital allocation, increases vulnerability to adverse shocks, and limits the firm’s optionality for M&A or large additional R&D spend.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent, large free cash flow and high conversion versus reported earnings provide durable funding for debt reduction, shareholder returns, and sustained investment in launches. This cash buffer improves resilience through product cycles and funds late‑stage programs without relying on external financing.
Read all positive factors
Bristol-Myers Squibb Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes revenue from different business segments, highlighting which areas drive growth and profitability, and indicating how well the company diversifies its income streams.
Analyzes revenue from different business segments, highlighting which areas drive growth and profitability, and indicating how well the company diversifies its income streams.
Data provided by:
The Fly
The FlyBristol-Myers Squibb (BMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$133.41B
Dividend Yield3.84%
Average Volume (3M)11.67M
Price to Earnings (P/E)14.4
Beta (1Y)0.30
Revenue Growth3.13%
EPS Growth83.17%
CountryUS
Employees32,500
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)4.54
Shares Outstanding2,042,714,600
10 Day Avg. Volume10,541,143
30 Day Avg. Volume11,673,598
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)5.96
Price to Sales (P/S)2.28
P/FCF Ratio8.57
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$66.30Price Target Upside15.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering21
EPS Forecast (FY)6.88
Revenue Forecast (FY)$49.39B
Bristol-Myers Squibb Business Overview & Revenue Model
Company Description
Bristol-Myers Squibb Company operates as a global biopharmaceutical entity, actively involved in the research, development, licensing, production, and worldwide commercialization of its medicinal portfolio. The company's therapeutic areas span hem...
How the Company Makes Money
BMS primarily makes money by selling patented, branded prescription drugs. Revenue is generated when its medicines are purchased by wholesalers, specialty distributors, hospitals/clinics, pharmacies, and other healthcare channels, with end-demand ...
Bristol-Myers Squibb Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive commercial and pipeline narrative: solid top-line growth (+5% revenue, growth portfolio +14%), multiple high-growth products (several >20% and one >80%), raised full-year guidance, strong cash generation and balance sheet, and meaningful pipeline and regulatory milestones (multiple PDUFAs, pivotal readouts upcoming). Key risks include timing delays for event-driven trials (milvexian and parts of the ADEPT program), legacy portfolio pressure from generics, an Opdivo revenue decline, and the need for improved Cobenfy dosing optimization. On balance, the highlights—strong current commercial execution, upgraded guidance, and significant pipeline/launch potential—outweigh the operational and timing challenges described.Positive Updates
Revenue Growth and Top-Line Results
Total revenue increased 5% year-over-year to approximately $13.0 billion in Q2 2026, driven by a 14% rise in the growth portfolio to $7.6 billion, which now represents nearly 60% of total revenue.
Negative Updates
Event-Driven Delays — Milvexian (AFib)
Milvexian atrial fibrillation trial timing shifted from late 2026 to first quarter 2027 due to slower-than-expected accrual of primary events; study remains blinded and monitored by an independent DMC but readout timing pushed out.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Top-Line Results
Total revenue increased 5% year-over-year to approximately $13.0 billion in Q2 2026, driven by a 14% rise in the growth portfolio to $7.6 billion, which now represents nearly 60% of total revenue.
Read all positive updates
Company Guidance
Management said they are raising full‑year 2026 revenue and adjusted diluted EPS guidance based on strong H1 momentum, incorporating an expected Eliquis revenue increase of 20–25% for 2026 and a less pronounced total legacy‑portfolio decline of −4% to −6%; they are maintaining projections for gross margin, other income/(expense) and the tax rate while modestly increasing operating‑expense guidance to fund accelerated prelaunch activity for iberdomide, mezigdomide and pumitamig. For context, Q2 revenue was ~ $13.0B (up 5% YoY) with the growth portfolio up 14% to $7.6B (≈60% of total); Eliquis was ~$4.5B (up 21%), Qvantig $261M (annualizing >$1B), Reblozyl +29%, Breyanzi +41%, Camzyos +59% to $416M, Opdivo ~$2.5B (−4%), Cobenfy $63M (+81%); Q2 gross margin was 71.4%, operating expenses $4.1B, adjusted diluted EPS $2.04, cash & marketable securities ~$11.5B, operating cash flow ~$3.4B and $1.2B of debt paid down in the quarter.Bristol-Myers Squibb Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
54
Neutral
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.19B | 48.20B | 48.30B | 45.01B | 46.16B | 46.38B |
| Gross Profit | 34.51B | 34.26B | 27.43B | 25.36B | 26.49B | 26.76B |
| EBITDA | 16.67B | 15.23B | 3.17B | 19.37B | 19.22B | 20.12B |
| Net Income | 9.28B | 7.05B | -8.95B | 8.03B | 6.33B | 6.99B |
Balance Sheet | ||||||
| Total Assets | 87.63B | 90.04B | 92.60B | 95.16B | 96.82B | 109.31B |
| Cash, Cash Equivalents and Short-Term Investments | 11.07B | 10.67B | 10.86B | 12.28B | 9.25B | 17.22B |
| Total Debt | 43.12B | 47.14B | 51.20B | 41.46B | 40.72B | 45.60B |
| Total Liabilities | 65.31B | 71.53B | 76.22B | 65.67B | 65.70B | 73.31B |
| Stockholders Equity | 22.32B | 18.47B | 16.34B | 29.43B | 31.06B | 35.95B |
Cash Flow | ||||||
| Free Cash Flow | 11.44B | 12.85B | 13.94B | 12.65B | 11.95B | 15.23B |
| Operating Cash Flow | 12.78B | 14.16B | 15.19B | 13.86B | 13.07B | 16.21B |
| Investing Cash Flow | -4.91B | -4.13B | -21.35B | -2.29B | -1.06B | -538.00M |
| Financing Cash Flow | -11.71B | -10.35B | 5.13B | -9.42B | -16.96B | -16.22B |
Bristol-Myers Squibb Technical Analysis
Positive
57.54
Price Trends
58.28
Positive
57.93
Positive
55.00
Positive
Market Momentum
1.97
Negative
61.80
Neutral
45.05
Neutral
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 57.54 is below the 20-day moving average (MA) of 61.89, below the 50-day MA of 58.28, and above the 200-day MA of 55.00, indicating a bullish trend. The MACD of 1.97 indicates Negative momentum. The RSI at 61.80 is Neutral, neither overbought nor oversold. The STOCH value of 45.05 is Neutral, 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $207.87B | 26.60 | 89.32% | 2.61% | 9.94% | 31.14% | |
74 Outperform | $133.41B | 14.39 | 46.75% | 4.33% | 3.13% | 83.17% | |
72 Outperform | $104.29B | 16.10 | 28.35% | 3.50% | 8.82% | 48.32% | |
70 Outperform | $161.66B | 17.55 | -16.30% | 2.49% | 3.83% | 55.01% | |
69 Neutral | $321.57B | 36.58 | 17.93% | 2.56% | 2.70% | -48.28% | |
66 Neutral | $142.54B | 19.09 | 4.89% | 7.01% | 1.36% | -5.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BMY
Bristol-Myers Squibb
64.15
20.87
48.21%
AMGN
Amgen
404.85
128.46
46.48%
GILD
Gilead Sciences
130.86
23.38
21.75%
GSK
GlaxoSmithKline
52.17
15.93
43.97%
MRK
Merck & Company
128.37
50.60
65.06%
PFE
Pfizer
26.20
3.56
15.71%
Bristol-Myers Squibb Corporate Events
Business Operations and StrategyFinancial Disclosures
Bristol Myers Squibb Raises 2026 Revenue Outlook
Positive
Jul 30, 2026
On July 30, 2026, Bristol Myers Squibb reported second-quarter 2026 results, highlighting a 6% year-on-year increase in total revenues to $13.0 billion and a 15% rise in Growth Portfolio sales to $7.6 billion, driven by Opdivo Qvantig, Reblozyl, C...
Executive/Board ChangesShareholder Meetings
Bristol-Myers Squibb Shareholders Approve Board and Compensation
Positive
May 8, 2026
At Bristol-Myers Squibb’s Annual Meeting held on May 5, 2026, shareholders elected all 11 board nominees to serve as directors until the 2027 Annual Meeting, reinforcing continuity in the company’s governance and strategic oversight. I...
Business Operations and StrategyFinancial Disclosures
Bristol Myers Squibb Posts Q1 2026 Results, Reaffirms Outlook
Positive
Apr 30, 2026
On April 30, 2026, Bristol Myers Squibb reported first-quarter 2026 results showing total revenue of $11.5 billion, up 3% year on year (1% excluding currency), driven by a 12% rise in its Growth Portfolio to $6.2 billion, while its Legacy Portfoli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.