Bristol-Myers Squibb (BMY) AI Stock Analysis

• Market Cap: $110.32B
• Dividend Yield: 4.84%
• Average Volume (3M): 14.68M
• Price to Earnings (P/E): 18.3
• Beta (1Y): 0.23
• Revenue Growth: 1.26%
• EPS Growth: N/A
• Country: US
• Employees: 34,100
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - General
• EPS (TTM): 1.63
• Shares Outstanding: 2,035,753,000
• 10 Day Avg. Volume: 15,678,716
• 30 Day Avg. Volume: 14,678,387
• PEG Ratio: 0.06
• Price to Book (P/B): 7.02
• Price to Sales (P/S): 2.37
• P/FCF Ratio: 8.22
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 2.63
• Enterprise Value/Gross Profit: 4.00
• Enterprise Value/Ebitda: 8.49
• 1Y Price Target: $53.93
• Price Target Upside: -0.48% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 20
• EPS Forecast (FY): 6.52
• Revenue Forecast (FY): $47.92B

• Rating: 78 Outperform
• Price Target: $59.00 ▲(8.88% Upside)

Bristol-Myers Squibb's strong earnings call and technical indicators are the most significant factors driving the score. The company's robust growth portfolio and strategic initiatives, coupled with fair valuation and solid financial performance, position it well for future growth. However, high debt levels and challenges in new product adoption present risks that need to be managed.

Positive Factors

Revenue Growth

The 17% YoY increase in sales from the growth portfolio indicates strong market demand and effective product positioning, supporting sustained revenue growth.

Strategic Acquisitions

Acquisitions and partnerships enhance BMY's cell therapy and RNA technology capabilities, strengthening its competitive position in innovative therapies.

Cost Management

Effective cost management, with significant savings, enhances profitability and allows for reinvestment in growth initiatives, supporting long-term financial health.

Negative Factors

High Debt Levels

Significant leverage poses financial risk, potentially limiting flexibility and increasing vulnerability to interest rate changes, impacting long-term stability.

Challenges in New Product Adoption

Difficulties in gaining market share for new products like Cobenfy could hinder revenue growth and market expansion efforts in competitive segments.

Legacy Portfolio Decline

Declining legacy portfolio sales could negatively impact overall revenue, necessitating successful new product launches to offset losses.

Bristol-Myers Squibb Business Overview & Revenue Model

Company Description

Bristol-Myers Squibb (BMY) is a global biopharmaceutical company that specializes in the discovery, development, and delivery of innovative medicines for serious diseases. The company operates predominantly in the oncology, immunology, and cardiovascular sectors, offering a robust portfolio of drugs, including well-known products like Opdivo, Eliquis, and Orencia. BMY focuses on addressing unmet medical needs through its cutting-edge research and development efforts, thereby enhancing patient outcomes across various therapeutic areas.

How the Company Makes Money

Bristol-Myers Squibb generates revenue primarily through the sale of its pharmaceutical products, which include prescription medications and biologics. The company benefits from a diverse portfolio of blockbuster drugs, which contribute significantly to its earnings. Key revenue streams consist of sales from oncology products like Opdivo and Yervoy, as well as from its cardiovascular drug Eliquis. Additionally, BMY engages in strategic partnerships and collaborations, including licensing agreements and co-development deals with other pharmaceutical companies, which can provide additional revenue sources through milestone payments and royalties. The company's strong focus on research and development, along with a robust pipeline of new therapies, further positions it to capitalize on future market opportunities and sustain its revenue growth.

Bristol-Myers Squibb Financial Statement Overview

Summary

Bristol-Myers Squibb demonstrates strong profitability with improving margins and positive free cash flow growth. However, the high debt levels present a potential risk, requiring careful management to maintain financial stability.

Income Statement

Bristol-Myers Squibb shows a strong gross profit margin of 61.7% in TTM, indicating effective cost management. The net profit margin improved significantly to 10.6% from a negative margin in 2024, showcasing a turnaround in profitability. Revenue growth is modest at 0.7% in TTM, but the EBIT and EBITDA margins are healthy at 17.9% and 31.6%, respectively, reflecting operational efficiency.

Balance Sheet

The company has a high debt-to-equity ratio of 2.92 in TTM, indicating significant leverage, which could pose financial risk. However, the return on equity is strong at 29.6%, suggesting effective use of equity to generate profits. The equity ratio is not calculated, but the high leverage remains a concern.

Cash Flow

Operating cash flow is robust, with a coverage ratio of 0.58 in TTM, although slightly lower than previous years. Free cash flow growth is positive at 5%, and the free cash flow to net income ratio is high at 91.7%, indicating strong cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	48.03B	48.30B	45.01B	46.16B	46.38B	42.52B
Gross Profit	31.62B	27.43B	25.36B	26.49B	26.76B	21.70B
EBITDA	14.90B	3.17B	19.37B	19.22B	20.12B	4.93B
Net Income	6.04B	-8.95B	8.03B	6.33B	6.99B	-8.99B
Balance Sheet
Total Assets	96.89B	92.60B	95.16B	96.82B	109.31B	118.48B
Cash, Cash Equivalents and Short-Term Investments	16.50B	10.86B	12.28B	9.25B	17.22B	16.45B
Total Debt	51.04B	51.20B	41.46B	40.72B	45.60B	51.67B
Total Liabilities	78.29B	76.22B	65.67B	65.70B	73.31B	80.60B
Stockholders Equity	18.55B	16.34B	29.43B	31.06B	35.95B	37.82B
Cash Flow
Free Cash Flow	15.30B	13.94B	12.65B	11.95B	15.23B	13.30B
Operating Cash Flow	16.62B	15.19B	13.86B	13.07B	16.21B	14.05B
Investing Cash Flow	-2.87B	-21.35B	-2.29B	-1.06B	-538.00M	-10.86B
Financing Cash Flow	-5.96B	5.13B	-9.42B	-16.96B	-16.22B	-1.15B

Bristol-Myers Squibb Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 54.19
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 54.19 is above the 20-day moving average (MA) of 51.04, above the 50-day MA of 47.61, and above the 200-day MA of 47.97, indicating a bullish trend. The MACD of 1.82 indicates Negative momentum. The RSI at 69.70 is Neutral, neither overbought nor oversold. The STOCH value of 74.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BMY.

Bristol-Myers Squibb Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MRK	80 Outperform	$250.91B	13.37	39.51%	3.24%	1.59%	58.02%
BMY	78 Outperform	$110.32B	18.30	33.84%	4.84%	1.26%	―
GILD	78 Outperform	$154.20B	19.25	40.53%	2.54%	2.76%	6407.19%
AMGN	77 Outperform	$176.29B	25.31	81.71%	3.00%	11.03%	65.22%
GSK	77 Outperform	$98.34B	13.67	35.62%	3.43%	5.97%	128.66%
PFE	74 Outperform	$143.22B	14.68	10.59%	6.65%	4.44%	128.96%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Bristol-Myers Squibb Corporate Events

Bristol-Myers Squibb Adjusts Tender Offer Terms

On November 17, 2025, Bristol-Myers Squibb announced the early participation results and amendments to its cash tender offers to purchase outstanding notes. The company adjusted the maximum purchase amounts for its Pool 1 and Pool 2 Notes and confirmed that all validly tendered notes before the deadline will be accepted without proration, except for the 2033 Notes, which will be prorated. The early settlement is set for November 20, 2025, and no further tenders will be accepted after the early deadline, as the maximum thresholds have been met.

Bristol-Myers Squibb Completes €5 Billion Note Offering

On November 10, 2025, BMS Ireland Capital Funding, a subsidiary of Bristol-Myers Squibb, completed a public offering of €5 billion in senior unsecured notes with varying maturities and interest rates. The proceeds, along with $3 billion in cash, will be used for a tender offer to purchase outstanding notes and for general corporate purposes, potentially impacting the company’s financial strategy and market positioning.

Bristol-Myers Squibb Launches $7 Billion Tender Offer

On November 3, 2025, Bristol-Myers Squibb announced the commencement of cash tender offers to purchase certain outstanding notes for up to $7 billion. This strategic financial maneuver aims to optimize the company’s debt profile, potentially enhancing its financial flexibility and market positioning.

Bristol-Myers Squibb Reports Q3 2025 Financial Results

On October 30, 2025, Bristol-Myers Squibb announced its financial results for the third quarter of 2025, reporting a 3% increase in total revenues to $12.2 billion, driven by an 18% rise in its Growth Portfolio revenues. The company raised its 2025 revenue guidance to $47.5 billion to $48.0 billion and updated its non-GAAP EPS range to $6.40 to $6.60, reflecting strong business execution and pipeline advancements.