Bristol-Myers Squibb Company (BMY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.6	$2.04	+27.5%	—	—	—
Q4 26	$1.42	$1.58	+11.3%	—	—	—
Q3 26	$1.2	$1.26	+5.0%	—	—	—
Q2 26	$1.52	$1.63	+7.2%	—	—	—
Q1 26	$1.1	$1.46	+32.7%	—	—	—
Q4 25	$1.5	$1.8	+20.0%	—	—	—
Q3 25	$1.47	$1.67	+13.6%	—	—	—
Q2 25	$1.5	$1.8	+20.0%	—	—	—
Q1 25	$1.63	$2.07	+27.0%	—	—	—
Q4 24	-$4.42	-$4.4	+0.5%	—	—	—
Q3 24	$1.58	$1.7	+7.6%	—	—	—
Q2 24	$1.77	$2	+13.0%	—	—	—
Q1 24	$1.99	$1.75	-12.1%	—	—	—
Q4 23	$1.97	$2.05	+4.1%	—	—	—
Q3 23	$1.73	$1.82	+5.2%	—	—	—
Q2 23	$1.83	$1.99	+8.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.47	—	—	$48.2B	—
FY24	—	-$4.41	—	—	$48.3B	—
FY23	—	$3.88	—	—	$45B	—
FY22	—	$2.97	—	—	$46.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$19.4B	$20.8B	$22.6B	$26.1B	$42.5B	$46.4B	$46.2B	$45B	$48.3B	$48.2B
YoY change	+17.3%	+6.94%	+8.59%	+15.9%	+62.6%	+9.09%	-0.49%	-2.5%	+7.32%	-0.22%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	19.4B	20.8B	22.6B	26.1B	42.5B	46.4B	46.2B	45B	48.3B	48.2B
Cost of revenue	5B	6B	6.5B	8.1B	11.8B	9.9B	10.1B	10.7B	14B	13.9B
Gross profit	14.5B	14.8B	16.1B	18.1B	30.7B	36.4B	36B	34.3B	34.3B	34.3B
Gross margin	74.4%	71.1%	71.3%	69.1%	72.3%	78.6%	78%	76.2%	71.1%	71.1%
Research & development	5B	6.5B	6.3B	6.1B	11.1B	10.2B	9.5B	9.3B	11.2B	10B
Selling, general & administrative	5B	4.8B	4.6B	4.9B	7.7B	7.7B	7.8B	7.8B	8.4B	7.3B
Operating expenses	10.1B	11.5B	11B	11.3B	19.3B	17.9B	17.3B	17.1B	19.6B	17.2B
Operating income	4.5B	3.4B	5.1B	5.9B	2.2B	8.5B	9.1B	8.2B	5.9B	13.7B
Operating margin	23%	16.6%	22.7%	22.6%	5.12%	18.4%	19.7%	18.2%	12.2%	28.5%
Non-operating income, net	1.6B	1.9B	1B	-282M	-7.6B	895M	-159M	1.4B	-12.3B	-2.5B
Pretax income	5.9B	5.1B	6B	5B	-6.9B	8.1B	7.7B	8.4B	-8.4B	9.3B
Income tax	1.4B	4.2B	1B	1.5B	2.1B	1.1B	1.4B	400M	554M	2.3B
Net income	4.5B	975M	4.9B	3.5B	-9B	7B	6.3B	8B	-8.9B	7.1B
Net margin	23.2%	4.69%	21.9%	13.2%	-21.2%	15.1%	13.7%	17.9%	-18.5%	14.6%
EBITDA	6B	5.7B	7.1B	7.5B	14.3B	20.4B	20.6B	19.3B	17.2B	19.9B
EPS	2.67	0.61	3.01	2.02	-3.99	3.15	2.97	3.88	-4.41	3.47
Diluted EPS	2.65	0.61	3.01	2.01	-3.99	3.12	2.95	3.86	-4.41	3.46

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	11B	11.5B	11.9B	12.2B	11.9B	12.3B	11.2B	12.3B	12.2B	12.5B	11.5B	13B
Cost of revenue	2.5B	2.7B	2.9B	3.3B	3B	4.8B	3B	3.4B	3.4B	4.1B	3.4B	3.7B
Gross profit	8.5B	8.7B	8.9B	8.9B	8.9B	7.5B	8.2B	8.9B	8.8B	8.4B	8.1B	9.2B
Gross margin	77.1%	76.1%	75.3%	73.2%	75.1%	61%	72.9%	72.5%	71.9%	67.2%	70.2%	71.3%
Research & development	2.2B	2.5B	2.7B	2.9B	2.4B	3.2B	2.3B	2.6B	2.5B	2.6B	2.6B	3B
Selling, general & administrative	2B	2.1B	2.4B	1.9B	2B	2.1B	1.6B	1.7B	1.8B	2.2B	1.6B	1.8B
Operating expenses	4.2B	4.6B	5.1B	4.8B	4.4B	5.3B	3.8B	4.3B	4.3B	4.8B	4.3B	4.8B
Operating income	2B	1.9B	1.5B	1.7B	2.2B	510M	3.5B	3.8B	3.6B	2.8B	3.4B	4B
Operating margin	17.9%	16.6%	12.8%	13.9%	18.3%	4.13%	31.2%	30.8%	29.8%	22.5%	29.3%	31%
Non-operating income, net	458M	87M	-12.6B	116M	9M	161M	-33M	-1.5B	-44M	-909M	284M	467M
Pretax income	2.1B	1.7B	-11.5B	1.3B	1.7B	175M	3B	1.8B	3.1B	1.5B	3.2B	4.1B
Income tax	203M	-88M	392M	-398M	461M	99M	509M	460M	919M	384M	561M	770M
Net income	1.9B	1.8B	-11.9B	1.7B	1.2B	76M	2.5B	1.3B	2.2B	1.1B	2.7B	3.3B
Net margin	17.6%	15.4%	-100.4%	13.8%	10.2%	0.62%	22%	10.7%	18%	8.68%	23.3%	25.6%
EBITDA	5B	4.1B	4.4B	4.7B	5.1B	2.8B	5B	5.3B	5.2B	4.5B	4.1B	4.8B
EPS	0.94	0.87	-5.89	0.83	0.6	0.04	1.21	0.64	1.08	0.53	1.31	1.62
Diluted EPS	0.93	0.87	-5.89	0.83	0.6	0.04	1.2	0.64	1.08	0.53	1.31	1.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	97.7B	100.8B	84.9B	109.4B	—	138.5B	153.3B	106.2B	114.6B	109.7B	130.5B
Enterprise value	98B	102B	83.5B	141.6B	—	166.9B	184.7B	135.3B	155B	146.2B	162.4B
Shares outstanding	1.7B	1.6B	1.6B	1.7B	2.3B	2.2B	2.1B	2.1B	2B	2B	2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.7	103.4	17.2	31.6	—	19.7	24.2	13.2	—	15.6	14
P/S	5.03	4.85	3.76	4.19	—	2.99	3.32	2.36	2.37	2.28	2.64
P/B	5.97	8.51	6.01	2.12	—	3.85	4.92	3.6	7	5.93	5.81
EV/EBITDA	16.4	17.8	11.7	19	—	8.19	8.98	7	9.03	7.33	8.58
EV/Sales	5.05	4.91	3.7	5.42	—	3.6	4	3.01	3.21	3.03	3.3
Earnings yield	4.62%	0.97%	5.83%	3.16%	—	5.07%	4.14%	7.57%	—	6.43%	7.16%
FCF yield	1.89%	4.19%	7.2%	6.74%	—	11%	7.8%	11.9%	12.2%	11.7%	6.22%
PEG	—	—	—	—	—	—	—	—	—	—	0.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	74.4%	71.1%	71.3%	69.1%	72.3%	78.6%	78%	76.2%	71.1%	71.1%	71.3%
Operating margin	23%	16.6%	22.7%	22.6%	5.12%	18.4%	19.7%	18.2%	12.2%	28.5%	34.4%
Net margin	23.2%	4.69%	21.9%	13.2%	-21.2%	15.1%	13.7%	17.9%	-18.5%	14.6%	18.9%
ROE	27.6%	8.23%	35%	6.69%	-23.7%	19.5%	20.4%	27.3%	-54.5%	38.1%	46.6%
ROA	13.4%	2.91%	14.1%	2.66%	-7.59%	6.42%	6.55%	8.45%	-9.65%	7.84%	10.7%
ROIC	20.4%	5.04%	33.3%	4.9%	2.98%	11.5%	12%	13.3%	10.4%	18.9%	19.1%
Return on tangible assets	26.2%	5.6%	25.1%	-8.05%	30.5%	-40.7%	-34.9%	-374.1%	-475.4%	90.2%	104.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.55	1.55	1.66	1.6	1.58	1.52	1.25	1.43	1.25	1.26	1.53
Quick ratio	1.41	1.43	1.55	1.37	1.47	1.43	1.14	1.31	1.15	1.14	1.38
Debt / equity	0.41	0.67	0.52	0.92	1.36	1.27	1.31	1.41	3.12	2.55	2.02
Debt / assets	0.2	0.24	0.21	0.37	0.44	0.42	0.42	0.44	0.55	0.52	0.51
Net debt / EBITDA	0.06	0.2	-0.2	4.31	2.47	1.39	1.53	1.51	2.35	1.83	1.83
Interest coverage	36.4	27.2	33.6	8.58	-3.84	7.07	7.26	8.24	-3.3	5.93	7.88
Effective tax rate	23.8%	81%	17.1%	30.5%	0%	13.4%	17.7%	4.74%	0%	24.4%	22.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.6	12.6	13.8	15.3	18.8	20.9	21.7	21.8	23.8	23.7	24.1
EPS (basic)	2.67	0.61	3.01	2.02	-3.99	3.15	2.97	3.88	-4.41	3.47	3.47
EPS (diluted)	2.65	0.61	3.01	2.01	-3.99	3.12	2.95	3.86	-4.41	3.46	4.54
Book value per share	9.78	7.2	8.65	30.3	16.8	16.2	14.6	14.3	8.08	9.1	10.9
FCF per share	1.1	2.57	3.74	4.32	5.89	6.86	5.61	6.11	6.88	6.32	5.59
Cash per share	3.8	4.14	5.36	9.03	7.29	7.75	4.34	5.94	5.36	5.25	5.42
Capex per share	—	—	—	—	—	—	—	—	—	0.64	0.66

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	2.72%	2.73%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	9.26%	10.5%
Payout ratio	56.5%	264.3%	52.8%	77.4%	-45.3%	62.7%	73%	59%	-54.4%	71.5%	55.3%
Dividend yield	2.61%	2.56%	3.08%	2.45%	—	3.17%	3.02%	4.47%	4.24%	4.6%	3.94%

Yield

3.94%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.63

ex-dividend Jul 2, 2026

Payout ratio

55%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.63
Apr 2, 2026	$0.63
Jan 2, 2026	$0.63

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$11B	$11.5B	$11.9B	$12.2B	$11.9B	$12.3B	$11.2B	$12.3B	$12.2B	$12.5B	$11.5B	$13B
YoY change	-2.25%	+0.62%	+4.66%	+8.69%	+8.44%	+7.54%	-5.6%	+0.56%	+2.77%	+1.3%	+2.57%	+5.74%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	6.3B	6.8B	8.8B	15.4B	16.4B	17.2B	9.3B	12.3B	10.9B	10.7B
Receivables	3.8B	4.3B	4.6B	6.5B	7.2B	8B	8.2B	8.9B	9B	9.6B
Inventory	1.2B	1.2B	1.2B	4.3B	2.1B	2.1B	2.3B	2.7B	2.6B	2.7B
Total current assets	13.7B	14.9B	17.7B	29.4B	30.2B	33.3B	27.3B	31.8B	29.8B	29.4B
Property, plant & equipment	50M	153M	-204M	620M	1B	1.1B	1.6B	1.5B	1.8B	1.9B
Goodwill & intangibles	16.5B	16.1B	15.3B	172.9B	148B	126.6B	115B	97.3B	90.7B	82.2B
Total assets	33.7B	33.6B	35B	129.9B	118.5B	109.3B	96.8B	95.2B	92.6B	90B
Accounts payable	1.7B	2.2B	1.9B	2.4B	2.7B	2.9B	3B	3.3B	3.6B	3.6B
Short-term debt	992M	987M	1.7B	3.5B	2.5B	5.1B	4.4B	3.3B	2.2B	2.5B
Total current liabilities	8.8B	9.6B	10.7B	18.3B	19.1B	21.9B	21.9B	22.3B	23.8B	23.4B
Long-term debt	5.7B	7B	5.6B	44.1B	49.2B	40.5B	36.3B	38.2B	49B	44.7B
Total liabilities	17.4B	21.7B	20.9B	78.2B	80.6B	73.3B	65.7B	65.7B	76.2B	71.5B
Shareholders' equity	16.3B	11.8B	14.1B	51.7B	37.9B	36B	31.1B	29.5B	16.4B	18.5B
Total debt	6.7B	8B	7.3B	47.5B	51.7B	45.6B	40.7B	41.5B	51.2B	47.1B
Net debt	2.5B	2.5B	438M	35.2B	37.1B	31.6B	31.6B	30B	40.9B	36.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	7.7B	12.3B	9.7B	6.7B	8.1B	10.9B	11.8B	13.6B	16.5B	10.7B	10.5B	11.1B
Receivables	8.4B	8.9B	8.8B	9.7B	9.3B	9B	9.1B	9.7B	9.6B	9.6B	7.9B	9.1B
Inventory	2.4B	2.7B	3B	3.1B	3.3B	2.6B	2.7B	2.7B	2.8B	2.7B	2.8B	2.7B
Total current assets	27.6B	31.8B	28.7B	26.9B	28.1B	29.8B	30.8B	33.2B	35.6B	29.4B	27.2B	28.6B
Property, plant & equipment	1.6B	1.5B	1.6B	1.5B	1.8B	1.8B	1.8B	1.8B	1.8B	1.9B	1.7B	1.3B
Goodwill & intangibles	101B	97.3B	109.8B	103.1B	98.2B	90.7B	89.1B	86.9B	84.9B	82.2B	80.5B	78.7B
Total assets	91.3B	95.2B	99B	94.6B	93.7B	92.6B	92.4B	94.7B	96.9B	90B	86.5B	87.6B
Accounts payable	2.8B	3.3B	3.5B	3.8B	3.5B	3.6B	4B	5.4B	4.3B	3.6B	4.2B	4.2B
Short-term debt	5.6B	3.3B	6.4B	3.7B	1.2B	2.2B	3.7B	4.9B	4.7B	2.5B	2.5B	1.2B
Total current liabilities	23.5B	22.3B	25.8B	23.3B	22.6B	23.8B	24.1B	27.5B	28.1B	23.4B	19.2B	18.7B
Long-term debt	33.6B	38.2B	51B	50.3B	50.2B	49B	47.5B	46B	46.3B	44.7B	43.9B	43.8B
Total liabilities	62.2B	65.7B	82.5B	77.6B	76.5B	76.2B	75B	77.2B	78.3B	71.5B	66.4B	65.3B
Shareholders' equity	29.1B	29.5B	16.5B	17.1B	17.2B	16.4B	17.4B	17.5B	18.6B	18.5B	20.1B	22.3B
Total debt	39.3B	41.5B	57.4B	54B	51.4B	51.2B	51.2B	50.9B	51B	47.1B	46.4B	45.1B
Net debt	31.8B	30B	48.1B	47.7B	43.5B	40.9B	40.4B	38.3B	35.3B	36.9B	36.9B	36.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	4.5B	975M	4.9B	3.5B	-9B	7B	6.3B	8B	-8.9B	7.1B
Depreciation & amortization	382M	789M	637M	1.7B	10.4B	10.7B	10.3B	9.8B	9.6B	4B
Stock-based compensation	205M	199M	221M	441M	779M	583M	457M	518M	507M	553M
Change in working capital	-699M	-1B	14M	2.3B	3.3B	-198M	-806M	-1.3B	2.1B	-451M
Operating cash flow	4.2B	1.5B	5.8B	7.5B	15.9B	17.5B	14.6B	14.9B	14.6B	14.2B
Capital expenditure	—	—	—	—	—	—	—	—	—	-1.3B
Investing cash flow	2.7B	989M	-1B	-9.1B	-10.1B	435M	56M	-1.1B	-20.1B	-4.1B
Dividends paid	-2.5B	-2.6B	-2.6B	-2.7B	-4.1B	-4.4B	-4.6B	-4.7B	-4.9B	-5B
Share repurchases	-231M	-2.5B	-320M	-7.3B	-1.5B	-6.3B	-8B	-5.2B	0	0
Financing cash flow	-2.5B	-4.1B	-3.5B	7.6B	-1.2B	-16.2B	-17.9B	-9.4B	2.2B	-10.2B
Net change in cash	4.4B	-1.6B	1.2B	6B	4.7B	1.7B	-3.3B	4.4B	-3.2B	-196M
Free cash flow	1.8B	4.2B	6.1B	7.4B	13.3B	15.2B	11.9B	12.7B	13.9B	12.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.9B	1.8B	-11.9B	1.7B	1.2B	76M	2.5B	1.3B	2.2B	1.1B	2.7B	3.3B
Depreciation & amortization	2.4B	2.5B	2.5B	2.6B	2.6B	1.9B	1B	1B	1B	977M	594M	594M
Stock-based compensation	132M	127M	133M	125M	129M	120M	144M	137M	139M	133M	146M	135M
Change in working capital	703M	-189M	-712M	-428M	2.1B	1.2B	-1.9B	636M	2.2B	-1.3B	-3B	-102M
Operating cash flow	5.2B	3.5B	2.3B	3.8B	6.1B	2.4B	2.1B	3.9B	6.3B	2B	1.1B	3.4B
Capital expenditure	—	—	—	—	—	—	—	-361M	-320M	-370M	-347M	-305M
Investing cash flow	-68M	-1B	-19.3B	-1.1B	105M	182M	-239M	-473M	-1.7B	-1.5B	-131M	-1.6B
Dividends paid	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.2B	-1.3B	-1.3B	-1.3B	-1.3B	-1.3B	-1.3B
Share repurchases	-4B	0	0	0	0	0	—	—	—	—	—	—
Financing cash flow	-5.2B	942M	14.7B	-6.7B	-4.1B	-1.6B	-890M	-1.8B	-1.5B	-6B	-1.5B	-2.6B
Net change in cash	-43M	3.4B	-2.3B	-4B	2.1B	1B	985M	1.6B	3.1B	-5.5B	-489M	-858M
Free cash flow	4.4B	3.9B	2.5B	2.1B	5.3B	4.1B	1.7B	3.6B	6B	1.6B	757M	3.1B

Date	Ratio
Aug 7, 2001	1000000:951777
Mar 1, 1999	2:1
Mar 3, 1997	2:1
Jun 10, 1987	2:1
May 27, 1983	2:1
May 31, 1977	2:1

Bristol-Myers Squibb Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history