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Bristol-Myers Squibb (BMY)
NYSE:BMY
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Bristol-Myers Squibb
(NYSE:BMY)
Rating:63Neutral
Price Target:―
Positive Factors
Financial Performance
Cobenfy TRx increased 3.2%, reaching 1,783 TRx, tracking ahead of what is needed to beat consensus estimates for 2Q25.
Revenue Expectations
2Q25 revenue for Cobenfy is expected to reach $33.0M, a 22% increase compared to consensus.
Negative Factors
Estimate Variability
Potential inventory stocking and gross to net assumptions introduce additional variability to estimates.
New Product Launches
New launch products are expected to ramp at a slower pace.
Sector Issues
BMY shares have pulled back significantly due to recent sector-wide issues including tariffs, FDA challenges, and drug pricing risks.
Bristol-Myers Squibb (BMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$95.71B
Dividend Yield5.19%
Average Volume (3M)17.19M
Price to Earnings (P/E)17.7
Beta (1Y)0.19
Revenue Growth4.62%
EPS GrowthN/A
CountryUS
Employees34,100
SectorHealthcare
Sector Strength42
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)1.80
Shares Outstanding2,035,080,800
10 Day Avg. Volume17,737,781
30 Day Avg. Volume17,185,942
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)5.43
Price to Sales (P/S)0.00
P/FCF Ratio7.22
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue0.71
Enterprise Value/Gross Profit4.29
Enterprise Value/Ebitda4.57
Forecast
1Y Price Target
$55.87Price Target Upside19.25% Upside
Rating ConsensusHold
Number of Analyst Covering20
Bristol-Myers Squibb Business Overview & Revenue Model
Company DescriptionBristol-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 MoneyBristol-Myers Squibb makes money primarily through the sale of prescription medications. The company's revenue model is based on the development and commercialization of proprietary drugs that address unmet medical needs. Key revenue streams include sales from leading drugs such as Opdivo, a cancer immunotherapy; Eliquis, an anticoagulant; and Revlimid, used in treating multiple myeloma. BMY also engages in strategic partnerships and collaborations with other pharmaceutical companies and research institutions to enhance its drug pipeline and expand its market reach. Additionally, the company invests in research and development to continuously innovate and bring new therapies to market, which contributes to its long-term revenue growth.
Bristol-Myers Squibb Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes income from different business units, highlighting which areas drive growth and profitability, and indicating strategic focus and market demand.
Analyzes income from different business units, highlighting which areas drive growth and profitability, and indicating strategic focus and market demand.
Data provided by:
Main Street Data
Main Street DataBristol-Myers Squibb Financial Statement Overview
Summary
Bristol-Myers Squibb demonstrates resilient financial performance with strengths in cash flow generation and gross profitability. However, net income variability and increased leverage pose potential risks. Continued focus on stabilizing earnings and managing liabilities will be crucial for sustained financial health.Income Statement
The income statement reveals a stable performance with gross profit margins consistently strong around 70%. However, the net profit margin has fluctuated significantly, with a notable loss in 2024. Revenue growth has been stable, with a slight decline in recent periods. The EBIT and EBITDA margins are solid for the TTM, reflecting efficient cost management despite earlier fluctuations.72
Positive
Balance Sheet
The balance sheet shows a moderate debt-to-equity ratio, indicating a balanced approach to leveraging. The equity ratio has decreased over time, suggesting an increase in liabilities relative to assets. Return on equity has varied, impacted by fluctuating net income, with a recent improvement in profitability contributing positively.65
Positive
Cash Flow
Cash flow analysis is favorable, with strong and improving free cash flow, highlighting efficient cash generation. The operating cash flow to net income ratio indicates robust cash conversion efficiency, although historical net income volatility presents some risk. Free cash flow growth is positive, supporting a strong cash position.75
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 47.64B | 48.30B | 45.01B | 46.16B | 46.38B | 42.52B | Gross Profit |
| 31.43B | 34.33B | 34.31B | 36.02B | 36.45B | 30.75B | EBIT |
| 8.79B | 5.89B | 17.24B | 10.33B | 10.16B | 5.13B | EBITDA |
| 16.18B | 3.22B | 19.42B | 19.23B | 20.19B | 5.04B | Net Income Common Stockholders |
| 5.42B | -8.95B | 8.03B | 6.33B | 6.99B | -8.99B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 11.78B | 10.86B | 12.28B | 9.12B | 13.98B | 14.55B | Total Assets |
| 92.43B | 92.60B | 95.16B | 96.82B | 109.31B | 118.48B | Total Debt |
| 51.24B | 51.20B | 41.46B | 40.72B | 45.60B | 51.67B | Net Debt |
| 40.36B | 40.85B | 30.00B | 31.59B | 31.62B | 37.13B | Total Liabilities |
| 74.98B | 76.22B | 65.67B | 65.70B | 73.31B | 80.60B | Stockholders Equity |
| 17.39B | 16.34B | 29.43B | 31.06B | 35.95B | 37.82B |
| Cash Flow | Free Cash Flow | ||||
| 13.09B | 13.94B | 12.65B | 11.95B | 15.23B | 13.30B | Operating Cash Flow |
| 14.31B | 15.19B | 13.86B | 13.07B | 16.21B | 14.05B | Investing Cash Flow |
| -2.23B | -21.35B | -2.29B | -1.06B | -538.00M | -10.86B | Financing Cash Flow |
| -10.51B | 5.13B | -9.42B | -16.96B | -16.22B | -1.15B |
Bristol-Myers Squibb Technical Analysis
Negative
46.85
Price Trends
52.07
Negative
54.61
Negative
53.26
Negative
Market Momentum
-1.33
Negative
42.27
Neutral
67.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BMY, the sentiment is Negative. The current price of 46.85 is below the 20-day moving average (MA) of 47.70, below the 50-day MA of 52.07, and below the 200-day MA of 53.26, indicating a bearish trend. The MACD of -1.33 indicates Negative momentum. The RSI at 42.27 is Neutral, neither overbought nor oversold. The STOCH value of 67.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $195.79B | 11.35 | 39.31% | 4.06% | 4.40% | 654.93% | |
71 Outperform | $132.78B | 22.44 | 32.51% | 2.90% | 4.63% | 1144.01% | |
71 Outperform | $128.65B | 21.85 | 7.34% | 2.81% | -4.57% | 2.96% | |
66 Neutral | $133.72B | 17.05 | 8.62% | 7.33% | 13.38% | ― | |
63 Neutral | $95.71B | 17.66 | 31.99% | 5.19% | 4.62% | ― | |
63 Neutral | $77.45B | 19.97 | 22.26% | 3.97% | 4.17% | -29.96% | |
53 Neutral | $5.14B | 3.03 | -43.89% | 2.83% | 16.75% | -0.06% |
* Healthcare Sector Average
Performance Comparison
BMY
Bristol-Myers Squibb
46.85
7.54
19.18%
GILD
Gilead Sciences
107.37
44.07
69.62%
GSK
GlaxoSmithKline
38.66
-4.60
-10.63%
MRK
Merck & Company
77.58
-48.18
-38.31%
PFE
Pfizer
23.32
-3.75
-13.85%
SNY
Sanofi
51.98
4.94
10.50%
Bristol-Myers Squibb Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q1-2025)
| % Change Since: -3.46%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Neutral
The earnings call showed strong financial performance and successful product launches, which were slightly overshadowed by disappointing clinical trial results and challenges related to the regulatory environment and Medicare Part D redesign.Q1-2025 Updates
Positive Updates
Strong Q1 Financial Performance
Total company revenues were approximately $11.2 billion, reflecting strong demand across the growth portfolio. Global sales of the growth portfolio increased approximately 18%.
Successful Product Launches
Cobenfi and OpdivoCuvanti are off to strong starts. Cobenfi sales were approximately $27 million, tracking ahead of all branded schizophrenia launch benchmarks.
Pipeline Advancements
Opdivo plus Yervoy received FDA and EMA approvals for first-line liver cancer. Breyanzi approved in the EU for follicular lymphoma. Camzyos received a favorable label update in the US.
Increased Financial Guidance
Full-year revenue guidance increased to a range of $45.8 billion to $46.8 billion, with non-GAAP EPS guidance raised to between $6.70 and $7.
Cost Management and Operational Efficiency
Operating expenses were more than $500 million lower compared to the same period last year. The company expects to realize approximately $2 billion in annual cost savings by the end of 2027.
Negative Updates
Disappointing Clinical Trial Results
The Camzyos Odyssey study in non-obstructive HCM and the Cobenfi Arise study in adjunctive schizophrenia did not meet their primary endpoints.
Impact of Medicare Part D Redesign
Global sales of Eliquis were down 3% in the quarter, mainly due to the impact of Medicare Part D redesign.
Challenges with Tariffs and Regulatory Environment
Uncertainty regarding tariffs and restructuring at the FDA and HHS creates a challenging operating climate.
Company Guidance
During the Bristol-Myers Squibb Company First Quarter 2025 Earnings Conference Call, the company provided updated guidance reflecting a strong performance in the first quarter. Total revenues for the quarter were approximately $11.2 billion, with a growth portfolio sales increase of about 18%, driven by key products such as the IO portfolio, Breyanzi, Reblozyl, and Camzyos. The company revised its full-year revenue guidance to a range of $45.8 billion to $46.8 billion, also increasing its non-GAAP EPS guidance to between $6.70 and $7. The gross margin guidance remained at approximately 72%, while operating expenses for the year are expected to be around $16 billion. The company also expects to realize $2 billion in annual cost savings by the end of 2027, with $1 billion in savings anticipated by the end of this year. Despite some setbacks in clinical trials, the company remains confident in its growth trajectory and continues to focus on strategic capital allocation, including business development opportunities.Bristol-Myers Squibb Corporate Events
Executive/Board ChangesShareholder Meetings
Bristol-Myers Squibb Holds Annual Shareholder Meeting 2025
Neutral
May 7, 2025
On May 6, 2025, Bristol-Myers Squibb held its Annual Meeting, where shareholders elected 11 directors to serve until the 2026 meeting. Key decisions included the approval of executive compensation and the ratification of Deloitte & Touche LLP as the independent accounting firm for 2025. However, shareholder proposals on Corporate Financial Sustainability and ceasing DEI efforts were not approved.
Business Operations and StrategyFinancial Disclosures
Bristol-Myers Squibb Q1 2025 Financial Results Announced
Neutral
Apr 24, 2025
On April 24, 2025, Bristol Myers Squibb announced its financial results for the first quarter of 2025, reporting total revenues of $11.2 billion, a decrease of 6% compared to the previous year. Despite the decline in total revenues, the company’s Growth Portfolio showed significant progress with a 16% increase in revenues, driven by strong performances from products like Opdivo, Breyanzi, Reblozyl, and Camzyos. The company raised its 2025 revenue guidance to a range of $45.8 billion to $46.8 billion, reflecting confidence in its strategic initiatives and pipeline progress.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.