Bristol-Myers Squibb Company (BMY)

NYSE: BMY · USD

$60.5

-1.05 (-1.7%)· Recorded snapshot

영어 원본으로 대체KO

번역하는 동안 영어 원본을 표시 중

이 리포트는 아직 번역되지 않았습니다. 번역 대기열이 따라잡으면 몇 분 후에 새로고침하세요.

StockMarketAgent Research · Analyzed 2026-09-25

Our latest published analysis: BMY rated Sell

Bristol-Myers Squibb Company's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$42.5 / share

Potential value

$52.7 / share

Upside to FV

-31.4%

from $60.5

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$125.6B
Revenue (ttm)	49.2B
Net income (ttm)	9.3B
EPS (ttm)	$4.54
Shares out	2B
P/E (trailing)	13.3x
P/E (forward)	9.4x
Dividend	$2.52 (4.16%)
Volume	5,399,402
Beta	0.18

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 49.2B
Net income (ttm): 9.3B
EPS (ttm): $4.54
P/E (trailing): 13.3x
P/E (forward): 9.4x
Market cap: $125.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$46.39B	$46.16B	$45.01B	$48.30B	$48.19B	+1.0%
Gross profit	$26.76B	$26.49B	$25.36B	$27.43B	$34.26B	+6.4%
Operating income	$9.43B	$8.95B	$9.61B	$-6.43B	$11.22B	+4.4%
Net income	$6.99B	$6.33B	$8.03B	$-8.95B	$7.05B	+0.2%
EPS (diluted)	$3.12	$2.95	$3.86	$-4.41	$3.46	+2.6%
EBITDA	$20.12B	$19.22B	$19.37B	$3.17B	$15.23B	-6.7%
R&D	$10.20B	$9.51B	$9.30B	$11.16B	$9.95B	-0.6%
SG&A	$7.69B	$7.81B	$7.77B	$8.41B	$7.27B	-1.4%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
BA	The Boeing Company	132.2B	18.0x	1.4x	-0.8%	+8.6%	-25.2%	매도
CHTR	Charter Communications, Inc.	17.2B	2.7x	0.3x	8.5%	+1.7%	-57.3%	적극 매수
CLX	The Clorox Company	10.5B	18.1x	1.6x	14.9%	-1.8%	-20.9%	매수
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	매도
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	비중 축소
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	비중 축소

Base and Bull scenarios

Base50%

Price target

$42.47

-31.4% from spot

The Base scenario represents the central projection with an assessed probability of 50.0%, establishing Fair value at $42.47, which represents an expected return of -31.4% relative to the share price of $61.94. This projection reflects steady commercial adoption across the growth portfolio alongside anticipated top-line contraction in FY2027 following European patent expirations on Eliquis. Operating margins compress moderately as loss of exclusivity impacts pricing, while robust operating cash flows continue to cover scheduled debt maturities and the dividend. Disconfirmation would occur if top-line revenue contracts faster than guided step-down levels or if pipeline programs encounter unexpected clinical or regulatory delays.

Eliquis experiences guided European revenue step down followed by gradual generic erosion
Commercial growth portfolio expands at steady pace to partially cushion revenue decline
Operating margins moderate as loss of exclusivity impacts pricing
Operating cash flows cover scheduled debt maturities while limiting discretionary capital return

Bull20%

Price target

$52.68

-14.9% from spot

Under the Bull scenario, which carries an assessed probability of 20.0%, intrinsic value reaches Potential value of $52.68, representing an upside return of -14.9% from the share price of $61.94. This path requires rapid commercial scaling across newly commercialized specialty biopharmaceuticals alongside positive pivotal Phase Three trial readouts for late-stage therapies such as milvexian. Full-year revenue performance must show immediate volume expansion that more than offsets generic erosion, while international commercial execution stabilizes realization. Disconfirmation would occur if clinical development schedules experience delays in patient enrollment or if competitive specialty therapies limit commercial penetration.

Accelerated commercial adoption of newly launched specialty biopharmaceuticals
Milestone Phase Three readouts for late-stage pipeline therapies proceed without delay
Operating margins stabilize near historical highs with disciplined operational spending
Balance sheet deleveraging accelerates as cash flow covers debt maturities

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($42.47). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	0.0%	0.5%	1.0%	1.5%	2.0%
5.4%	$47.4	$48.9	$50.7	$53.1	$56.1
6.4%	$43.7	$44.7	$45.9	$47.4	$49.1
7.4%	$41.0	$41.7	$42.5	$43.4	$44.6
8.4%	$38.7	$39.3	$39.8	$40.5	$41.3
9.4%	$36.9	$37.3	$37.8	$38.2	$38.8

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E9.4

P25 n/aP50 n/aP75 n/a

Trailing P/E13.5

P25 n/aP50 n/aP75 n/a

ROE46.6

P25 n/aP50 n/aP75 n/a

ROIC21.7

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All BMY indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000014272
Company name	Bristol-Myers Squibb Company
Country	United States
Country code	US
CUSIP number	110122108
Earnings date	2026-10-29
Earnings time	bmo
Employees	32,500
Employees change	-1,600
Employees growth	-4.69%
Enterprise value	$157.2B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1887
In index	SP500
Industry	Drug Manufacturers - General
Is primary listing	Yes
Is SPAC	No
ISIN number	US1101221083
Last 10-K release date	2026-02-11
Last earnings date	2026-07-30
Last refreshed	2026-10-28
Last stock split date	1999-03-01
Last stock split type	Forward
Market cap	$123.6B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$60.50
Price currency	USD
Sector	Healthcare
SIC code	2834
Stock price date	2026-10-28
Symbol	BMY
Tags	pharmaceuticals
U.S. state	New Jersey
Website	https://www.bms.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	9.29x
Average P/E ratio (10Y)	38.47x
Average P/E ratio (3Y)	16.21x
Average P/E ratio (5Y)	18.92x
Earnings yield	7.51%
EV/Earnings	16.96x
EV/EBIT	10.07x
EV/EBITDA	8.31x
EV/FCF	13.76x
EV/Sales	3.2x
FCF / EV yield	7.27%
FCF yield	9.24%
Forward EV/Sales	3.21x
Forward P/E	9.98x
Forward P/S	2.52x
Graham number	33.41653
Graham upside	-44.87%
Industry forward P/E	18.59x
Industry P/E	36.43x
Lynch fair value	$23.81
Lynch upside	-60.71%
P/(FCF - SBC) ratio	11.37x
P/(OCF - SBC) ratio	10.12x
P/B ratio	5.63x
P/E ratio	13.32x
P/FCF ratio	10.82x
P/OCF ratio	9.69x
P/S ratio	2.52x
Price/EBITDA ratio	6.54x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	31.79%
EBITDA margin	38.49%
Effective tax rate	22.12%
FCF margin	23.26%
Gross margin	71.66%
Operating margin	31.79%
Pretax margin	24.21%
Profit margin	18.87%
Profit per employee	$285,600
Profitable quarters	9
Profitable years	1
Revenue per employee	$1.5M
ROA	10.72%
ROA (5Y)	6.51%
ROCE	22.67%
ROE	46.6%
ROE (5Y)	13.18%
ROIC	21.68%
ROIC (5Y)	14.63%
SBC / revenue	1.12%
Tax / revenue	5.36%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	82.74%
EPS growth (Q)	153.13%
EPS growth (QoQ)	23.66%
EPS growth 10Y	10.27%
EPS growth 3Y	6.51%
EPS growth quarters	4
EPS growth years	1
FCF growth	-21.53%
FCF growth (Q)	-13.16%
FCF growth (QoQ)	307.93%
FCF growth 3Y	2.19%
FCF growth 5Y	-0.43%
Gross profit growth	-0.04%
Gross profit growth (Q)	3.92%
Gross profit growth 3Y	0.16%
Gross profit growth 5Y	-0.04%
Net income growth	83.84%
Net income growth (Q)	153.21%
Net income growth (QoQ)	23.91%
Net income growth 3Y	5.24%
Net income growth quarters	4
Net income growth years	1
OCF growth	-19.62%
OCF growth (Q)	-13.38%
OCF growth (QoQ)	207.34%
OCF growth 10Y	25.24%
OCF growth 3Y	2.56%
OCF growth 5Y	0.44%
Operating income growth	23.89%
Operating income growth (Q)	8.06%
Operating income growth 3Y	21.58%
Operating income growth 5Y	13.64%
Revenue growth	3.11%
Revenue growth (Q)	5.74%
Revenue growth (QoQ)	12.92%
Revenue growth 10Y	10.81%
Revenue growth 3Y	2.87%
Revenue growth 5Y	2.08%
Revenue growth quarters	5
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.3B
Depreciation and amortization	$3.3B
EBIT	$15.6B
EBITDA	$18.9B
EPS	$4.54
FCF per share	$5.60
Financing cash flow	$-11.7B
Free cash flow	$11.4B
Free cash flow minus SBC	$10.9B
Gross profit	$35.2B
Income taxes	$2.6B
Investing cash flow	$-4.9B
Net borrowing	$-6.5B
Net cash flow	$-3.9B
Net income	$9.3B
Operating cash flow minus SBC	$12.2B
Operating income	$15.6B
Revenue	$49.2B
Stock-based compensation	$553M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.59
Book value per share	$10.92
Debt / EBITDA	2.34
Debt / equity	2.02
Debt / FCF	3.94
Goodwill	$21.7B
Interest coverage	9.07
Long-term assets	$59.1B
Long-term liabilities	$46.7B
Net cash (debt)	$-33.6B
Net cash / market cap	-27.13%
Net debt / EBITDA	1.77
Net debt / equity	1.5
Net debt / FCF	2.94
Piotroski F-Score	7
Property, plant and equipment	$9.3B
Shareholders' equity	$22.3B
Tangible book value	$-16.8B
Tangible book value per share	$-8.23
Total assets	$87.6B
Total cash	$11.1B
Total debt	$45.1B
Total liabilities	$65.3B
WACC	4.66%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.54
Current assets	$28.6B
Current liabilities	$18.7B
Current ratio	1.53
Inventory turnover	5.09
Net working capital	$87M
Quick ratio	1.29
Working capital	$9.9B
Working capital turnover	6.3

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.47%
Dividend growth	1.61%
Dividend growth (10Y)	5.19%
Dividend growth (3Y)	3.39%
Dividend growth (5Y)	5.15%
Dividend growth years	19
Dividend payment date	2026-11-02
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$2.52
Dividend yield	4.16%
Ex-dividend date	2026-10-02
FCF payout ratio	45%
Last dividend	$0.63
Payout ratio	55.47%
Shareholder yield	3.69%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	16.53%
10Y return CAGR	5.22%
10Y total return	66.31%
150-day SMA	$60.31
15Y price change	83.54%
15Y return CAGR	7.7%
15Y total return	204.2%
1D price change	-1.71%
1M price change	-3.67%
1M total return	-2.68%
1W price change	-1.83%
1W total return	-1.83%
1Y price change	39.55%
1Y return CAGR	45.8%
1Y total return	45.76%
20-day SMA	$60.15
200-day SMA	$59.89
20Y price change	145.24%
20Y return CAGR	8.6%
20Y total return	420.48%
3M price change	-3.21%
3M total return	-2.21%
3Y price change	18.68%
3Y return CAGR	10.98%
3Y total return	36.7%
50-day SMA	$62.98
50-day SMA vs 200-day SMA	50over200
52-week high	$68.64
52-week high date	2026-08-19
52-week low	$42.52
52-week low date	2025-10-29
5Y price change	7.19%
5Y return CAGR	5.68%
5Y total return	31.84%
6M price change	4.79%
6M total return	7.08%
All-time high	$81.44
All-time high date	2022-12-01
All-time low	$0.96
All-time low date	1974-10-04
Average true range (ATR)	$1.67
Average volume	11.9M
Beta (1Y)	0.05
Beta (2Y)	0.2
Beta (5Y)	0.18
Change from 52-week high	-11.86%
Change from 52-week low	42.29%
Change from all-time high	-25.65%
Change from all-time low	6,227.06%
Change from open	-0.02%
Day's gap	-1.69%
Dollar volume	$326.7M
High price	$61.25
Low price	$60.40
Monthly RSI	54.44
Open price	$60.51
Position in 52-week range	11.76%
Premarket change	-0.68%
Premarket close	$61.55
Premarket price	$61.13
Premarket volume	18.7K
Previous close	$61.55
Price vs 150-day SMA	0.4%
Price vs 20-day SMA	0.66%
Price vs 200-day SMA	1.1%
Price vs 50-day SMA	-3.86%
Relative volume	0.45
RSI	47.5
Sharpe ratio	1.33
Sharpe ratio (3Y)	0.26
Sharpe ratio (5Y)	0.16
Sortino ratio	2.41
Sortino ratio (3Y)	0.59
Sortino ratio (5Y)	0.48
Volume	5.4M
Weekly RSI	49.43
YTD price change	12.25%
YTD total return	17.25%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	2B
Float percentage	99.85%
Shares change (QoQ)	0.05%
Shares change (YoY)	0.47%
Shares held by insiders	0.05%
Shares held by institutions	83.01%
Shares outstanding	2B
Short % of float	2.25%
Short % of shares	2.24%
Short ratio	4 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	182

Deeper analysis on BMY

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this BMY report

What is the latest published BMY stock rating?

Bristol-Myers Squibb Company is shown with Sell in the latest published report, analyzed 2026-09-25. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full BMY analysis?

The full latest published report, analyzed 2026-09-25, lives at /stocks/BMY/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for BMY?

The latest published report analyzed 2026-09-25 gives BMY a fair value of USD 42 and a potential value of USD 53. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the BMY page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-25). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellBMY · Fair value $42.5-31.4%

Read full analysis →

Bristol-Myers Squibb Company (BMY)

Our latest published analysis: BMY rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · BMY

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All BMY indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on BMY

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	4.5
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	5.0
Competitive Moat	6.5
Earnings Quality	9.0
Capital Efficiency	7.5