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BMY

Bristol-Myers Squibb Company

BMY

Bristol-Myers Squibb Company • NYSE
$49.20 ▼ -0.10% (-0.05)
Market Cap $100.16 B
52w High $63.33
52w Low $42.52
Dividend Yield 2.48%
P/E 16.57
Volume 5.73M
Outstanding Shares 2.04B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $12.222B ▼ $5.148B ▲ $2.201B ▲ 18.009% ▲ $1.08 ▲ $4.587B ▲
Q2-2025 $12.269B ▲ $3.953B ▲ $1.31B ▼ 10.677% ▼ $0.64 ▼ $3.287B ▼
Q1-2025 $11.201B ▼ $3.819B ▼ $2.456B ▲ 21.927% ▲ $1.21 ▲ $4.477B ▲
Q4-2024 $12.342B ▲ $4.893B ▲ $72M ▼ 0.583% ▼ $0.035 ▼ $2.551B ▼
Q3-2024 $11.892B $4.329B $1.211B 10.183% $0.6 $4.773B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.502B ▲ $96.889B ▲ $78.289B ▲ $18.552B ▲
Q2-2025 $13.603B ▲ $94.676B ▲ $77.187B ▲ $17.435B ▲
Q1-2025 $11.782B ▲ $92.427B ▼ $74.979B ▼ $17.389B ▲
Q4-2024 $10.859B ▲ $92.603B ▼ $76.215B ▼ $16.335B ▼
Q3-2024 $8.094B $93.67B $76.47B $17.142B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.195B ▲ $6.311B ▲ $-1.702B ▼ $-1.49B ▲ $3.115B ▲ $5.991B ▲
Q2-2025 $1.313B ▼ $3.917B ▲ $-473M ▲ $-1.836B ▼ $1.736B ▲ $3.556B ▲
Q1-2025 $2.462B ▲ $1.954B ▼ $-499M ▼ $-993M ▲ $528M ▼ $1.694B ▼
Q4-2024 $76M ▼ $4.439B ▼ $-196M ▲ $-1.642B ▲ $2.454B ▲ $4.061B ▼
Q3-2024 $1.215B $5.591B $-219M $-3.852B $1.597B $5.267B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Abecma
Abecma
 $100.00M ▲$100.00M ▲$90.00M ▼$140.00M ▲
Abraxane
Abraxane
 $170.00M ▲$100.00M ▼$100.00M ▲$70.00M ▼
Breyanzi
Breyanzi
 $260.00M ▲$260.00M ▲$340.00M ▲$360.00M ▲
Camzyos
Camzyos
 $220.00M ▲$160.00M ▼$260.00M ▲$300.00M ▲
Cobenfy
Cobenfy
 $0 ▲$30.00M ▲$40.00M ▲$40.00M ▲
Eliquis
Eliquis
 $3.19Bn ▲$3.56Bn ▲$3.68Bn ▲$3.75Bn ▲
Krazati
Krazati
 $40.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲
Opdivo
Opdivo
 $2.48Bn ▲$2.27Bn ▼$2.56Bn ▲$2.53Bn ▼
Opdivo Ovantig
Opdivo Ovantig
 $0 ▲$10.00M ▲$30.00M ▲$70.00M ▲
Opdualag
Opdualag
 $250.00M ▲$250.00M ▲$280.00M ▲$300.00M ▲
Orencia
Orencia
 $1.00Bn ▲$770.00M ▼$960.00M ▲$960.00M ▲
Other Growth Brands
Other Growth Brands
 $510.00M ▲$400.00M ▼$470.00M ▲$510.00M ▲
Other Legacy Brands
Other Legacy Brands
 $250.00M ▲$200.00M ▼$220.00M ▲$180.00M ▼
PomalystImnovid
PomalystImnovid
 $820.00M ▲$660.00M ▼$710.00M ▲$680.00M ▼
Reblozyl
Reblozyl
 $550.00M ▲$480.00M ▼$570.00M ▲$610.00M ▲
Revlimid
Revlimid
 $1.34Bn ▲$940.00M ▼$840.00M ▼$570.00M ▼
Sotyktu
Sotyktu
 $80.00M ▲$60.00M ▼$70.00M ▲$80.00M ▲
Sprycel
Sprycel
 $200.00M ▲$170.00M ▼$120.00M ▼$120.00M ▲
Yervoy
Yervoy
 $680.00M ▲$620.00M ▼$730.00M ▲$740.00M ▲
Zeposia
Zeposia
 $160.00M ▲$110.00M ▼$150.00M ▲$160.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has inched higher over the last five years, showing a business that is more stable than fast-growing. The company’s core operations still generate solid profit, as seen in healthy operating earnings. However, the bottom line has been very volatile, swinging between sizeable profits and sizeable losses. The recent loss appears driven more by one‑off or accounting charges than by a collapse in the underlying business, but it still highlights how dependent a large pharma company is on product mix, patent cycles, and deal-related costs. Overall, the income statement shows a strong engine under the hood, but with meaningful noise in reported net income.

Balance Sheet

Balance Sheet The balance sheet shows a large, asset‑heavy company with meaningful financial flexibility but also notable leverage. Total assets have slowly drifted down from their peak after major acquisitions, suggesting some normalization of the portfolio. Cash on hand is sizeable and has stayed relatively steady, giving the firm room to invest and manage downturns. Debt, however, is high and has crept up again recently, while shareholders’ equity has fallen, partly reflecting recent losses and prior deal activity. The result is a more leveraged capital structure than a few years ago, which is manageable for a big pharma company but still a point to watch if business conditions worsen or interest rates stay elevated.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has remained consistently strong year after year, even when reported earnings were weak or negative. Investment in physical assets is modest for a business of this size, so most of the cash generated is available after capital spending. Free cash flow has therefore been robust and stable, supporting ongoing R&D, debt service, and shareholder returns. In short, the cash flow statement paints a healthier and more stable picture of the business than the income statement alone, though it still ultimately depends on maintaining a strong drug portfolio as patents roll off.

Competitive Edge

Competitive Edge Bristol-Myers Squibb holds a powerful position in high‑value disease areas such as cancer, cardiovascular disease, and blood disorders. It benefits from a portfolio that includes leading cancer immunotherapies, top‑tier blood thinners, and cell therapies, supported by a global commercial footprint and deep relationships with physicians and regulators. Its size provides scale advantages in development, manufacturing, and marketing. At the same time, competition is fierce: other large drug makers are aggressively targeting the same therapeutic areas, and biosimilars and generics are chipping away once patents expire. The upcoming wave of patent expirations for several flagship drugs is a central strategic threat, and how successfully new products ramp up will largely determine whether its competitive edge holds or erodes.

Innovation and R&D

Innovation and R&D Innovation is the core of Bristol-Myers Squibb’s strategy and arguably its biggest long‑term asset. The company is a leader in immuno-oncology and cell therapy, with multiple cutting‑edge cancer treatments already on the market and more in the pipeline. It has broadened into areas like radiopharmaceuticals and neuroscience and is using advanced tools such as artificial intelligence and novel drug‑design platforms to speed discovery. Management has been very active in acquisitions and partnerships to fill pipeline gaps and bring in next‑generation technologies, especially as older blockbusters approach patent expiry. The main risks are execution and clinical uncertainty: late‑stage trials can fail, regulators can push back, and new launches may not fully replace lost revenue. Still, the breadth and ambition of the R&D and deal activity show a company leaning hard into innovation rather than defending the status quo.

Summary

Bristol-Myers Squibb today looks like a mature, cash‑rich pharmaceutical company navigating a difficult but not unusual industry transition. Its revenue base is large and relatively steady, and underlying operations are profitable, but reported earnings have become choppy due to charges and the shifting product portfolio. The balance sheet carries meaningful debt yet is supported by strong and steady cash flows. Competitively, it remains a heavyweight in several key disease areas, but faces a serious patent cliff and intense rivalry from other global drug makers and generics. The company’s answer is heavy investment in innovation—both internal R&D and external deals—to build the next wave of cancer, cardiovascular, and specialty medicines. Future performance will hinge on how quickly and successfully this new generation of products can scale to offset aging blockbusters and support the current level of financial strength.

NEWS

November 26, 2025 · 6:59 AM UTC

Bristol Myers Squibb to Participate in Citi's 2025 Global Healthcare Conference

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November 24, 2025 · 5:00 PM UTC

Bristol Myers Squibb Receives Approval from the European Commission to Expand Use of CAR T Cell Therapy Breyanzi for Relapsed or Refractory Mantle Cell Lymphoma

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November 24, 2025 · 6:59 AM UTC

Bristol Myers Squibb to Host Hematology-Focused Investor Event

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November 18, 2025 · 2:25 PM UTC

Bristol Myers Squibb Announces Accepted Amounts and Pricing Terms of its Tender Offers

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November 17, 2025 · 10:33 PM UTC

Bristol Myers Squibb Announces Early Participation Results, Amendment and Early Settlement of Tender Offers

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