Bristol-Myers Squibb (BMY) AI Stock Analysis

• Market Cap: $113.80B
• Dividend Yield: 4.84%
• Average Volume (3M): 14.44M
• Price to Earnings (P/E): 18.9
• Beta (1Y): 0.25
• 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: 10,435,745
• 30 Day Avg. Volume: 14,444,716
• 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: 1.11
• Enterprise Value/Revenue: 2.63
• Enterprise Value/Gross Profit: 4.00
• Enterprise Value/Ebitda: 8.49
• 1Y Price Target: $55.86
• Price Target Upside: -0.08% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 20
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: $62.00 ▲(10.91% Upside)

The score is driven primarily by strong operating profitability and cash generation alongside improving net margins, tempered by high leverage. Technicals are constructive with the stock trading above key moving averages and positive MACD. Valuation is reasonable with an above-average dividend yield, and the latest earnings call was supportive due to raised revenue guidance and strong growth-portfolio momentum despite adoption and policy-related uncertainties.

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 Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis. It also provides Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia; Yervoy for the treatment of patients with unresectable or metastatic melanoma; Abraxane, a protein-bound chemotherapy product; Reblozyl for the treatment of anemia in adult patients with beta thalassemia; and Empliciti for the treatment of multiple myeloma. In addition, the company offers Zeposia to treat relapsing forms of multiple sclerosis; Breyanzi, a CD19-directed genetically modified autologous T cell immunotherapy for the treatment of adult patients with relapsed or refractory large B-cell lymphoma; Inrebic, an oral kinase inhibitor indicated for the treatment of adult patients with myelofibrosis; and Onureg for the treatment of adult patients with AML. It sells products to wholesalers, distributors, pharmacies, 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 New York, New York.

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: 55.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 55.9 is above the 20-day moving average (MA) of 53.72, above the 50-day MA of 49.93, and above the 200-day MA of 47.19, indicating a bullish trend. The MACD of 1.57 indicates Negative momentum. The RSI at 68.31 is Neutral, neither overbought nor oversold. The STOCH value of 85.06 is Negative, 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	$274.34B	14.62	39.51%	3.12%	1.59%	58.02%
GILD	78 Outperform	$149.71B	18.76	40.53%	2.52%	2.76%	6407.19%
AMGN	77 Outperform	$177.76B	25.21	81.71%	3.00%	11.03%	65.22%
GSK	77 Outperform	$102.19B	14.17	35.62%	3.41%	5.97%	128.66%
PFE	74 Outperform	$144.87B	14.85	10.59%	6.65%	4.44%	128.96%
BMY	73 Outperform	$113.80B	18.86	33.84%	4.84%	1.26%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Bristol-Myers Squibb Corporate Events

Bristol Myers Squibb Showcases Growth Strategy at JPM Conference

On January 12, 2026, Bristol Myers Squibb used its appearance at the 44th Annual J.P. Morgan Healthcare Conference to highlight that it has been “built for growth,” emphasizing a 17% year-on-year increase in Growth Portfolio sales for the first nine months of 2025, four assets already annualizing above $1 billion in revenue, stronger operating cash flow, and productivity initiatives including scaled use of AI to generate cost savings for reinvestment. The company detailed a broad late-stage pipeline with multiple potential multi-billion-dollar assets across cardiovascular, immunology, oncology and neuroscience, outlined significant registrational and pivotal trial readouts expected from 2026 through 2028, and projected more than 10 potential new product launches by 2030, underscoring a strategic focus on sustaining industry-leading long-term growth and reinforcing its competitive position in key therapeutic areas.

The most recent analyst rating on (BMY) stock is a Hold with a $47.00 price target. To see the full list of analyst forecasts on Bristol-Myers Squibb stock, see the BMY Stock Forecast page.

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.

The most recent analyst rating on (BMY) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on Bristol-Myers Squibb stock, see the BMY Stock Forecast page.

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.

The most recent analyst rating on (BMY) stock is a Buy with a $62.00 price target. To see the full list of analyst forecasts on Bristol-Myers Squibb stock, see the BMY Stock Forecast page.

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.

The most recent analyst rating on (BMY) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on Bristol-Myers Squibb stock, see the BMY Stock Forecast page.

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.

The most recent analyst rating on (BMY) stock is a Buy with a $64.00 price target. To see the full list of analyst forecasts on Bristol-Myers Squibb stock, see the BMY Stock Forecast page.