FirmAtlas

Company handbook · BMY · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

BMY · CIK 14272 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026

BRISTOL-MYERS SQUIBB COMPANY

$59.75 −0.82 (−1.35%)

Close, Oct 16, 2026 · 52-week $43–69

↗ bms.com

Last fiscal year

BRISTOL-MYERS SQUIBB COMPANY reported revenue of $48.2B for the year ended Dec 31, 2025 (FY25), down 0.2% from FY24. Net income was $7.1B, operating cash flow $14.2B and free cash flow $12.8B. Source: 10-K filed Feb 11, 2026.

Market cap

$121.8B

P/E

13.1

EV/EBITDA

7.5x

P/B

5.5

Div yield

4.22%

ROIC

22.9%

Revenue 1Y

−0.2%/yr

EPS 1Y

n/m

Shares 1Y

+0.6%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOChris Boerner

HQPrinceton, NJ

AuditorDeloitte & Touche LLP

Employees32,500

Year endsDecember

Compounded growth & averages

10Y

TTM

Share price

1.8%

0.5%

1.5%

37.7%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$38.2B deployed

Capex $2.6B 6.7%

Acquisitions $25.8B 67.4%

Dividends $9.9B 25.9%

Operating cash flow over the period: $29.3B. Total debt changed by −$4.4B. R&D of $21.1B is already inside operating costs.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Jul 30, 2026 Quarterly results 8-K May 8, 2026 Shareholder vote results 8-K Apr 30, 2026 Quarterly results 8-K Feb 5, 2026 Quarterly results 8-K Jan 12, 2026 Other announcement 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

48,300

48,194−0.2%

49,186

YoY

−0.2%

Operating income

14,759

17,040+15.5%

—

Operating margin

30.6%

35.4%+4.8 pp

—

EBITDA

24,359

21,051−13.6%

—

EBITDA margin

50.4%

43.7%−6.8 pp

—

Interest expense

1,947

1,891−2.9%

—

Interest coverage

12.51x

11.13x−1.38x

—

Net income

(8,948)

7,054n/m

9,282

YoY

n/m

Net margin

−18.5%

14.6%+33.2 pp

—

EPS (diluted, $)

−4.41

3.46n/m

4.54

YoY

n/m

Balance sheet

FY24 FY25

TTM

Total assets

92,603

90,038−2.8%

87,634

Cash & short-term investments

10,347

10,218−1.2%

—

Accounts receivable

9,012

9,592+6.4%

—

Inventory

2,557

2,690+5.2%

—

Net PP&E

7,136

7,543+5.7%

—

Other assets

63,551

59,995−5.6%

—

Total liabilities

76,268

71,565−6.2%

65,315

Accounts payable

3,602

3,575−0.7%

—

Total debt

51,477

47,088−8.5%

43,888

Other liabilities

21,189

20,902−1.4%

—

Shareholders’ equity

16,335

18,473+13.1%

22,319

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

15,190

14,156−6.8%

12,782

Net income

(8,933)

7,055n/m

—

Depreciation & amortization

9,600

4,011−58.2%

—

Stock-based compensation

507

553+9.1%

—

Working capital & other

14,016

2,537−81.9%

—

Cash from investing

(21,352)

(4,132)n/m

—

Capex

(1,248)

(1,311)n/m

—

Acquisitions

(21,821)

(3,944)n/m

—

Investments bought

(769)

(2,000)n/m

—

Investments sold / matured

1,122

1,975+76.0%

—

Other investing

1,364

1,148−15.8%

—

Cash from financing

5,127

(10,348)−301.8%

—

Debt raised

12,883

5,740−55.4%

—

Debt repaid

(2,873)

(10,940)n/m

—

Dividends

(4,863)

(5,045)n/m

—

Buybacks

0n/m

—

Other financing

(20)

(103)n/m

—

Net change in cash

(1,172)

(129)n/m

—

Free cash flow (OCF − capex)

13,942

12,845−7.9%

11,440

Where the cash went

FY24 FY25

TTM

Operating cash flow

15,190

14,156−6.8%

12,782

Reinvested in the business

23,069

5,255−77.2%

—

% of operating cash flow

151.9%

37.1%

Capex

1,248

1,311+5.0%

1,342

Acquisitions

21,821

3,944−81.9%

—

R&D (memo, already in costs)

11,159

9,951−10.8%

—

Free cash flow

13,942

12,845−7.9%

11,440

YoY

−7.9%

Returned to shareholders

4,863

5,045+3.7%

—

% of free cash flow

34.9%

39.3%

Dividends

4,863

5,045+3.7%

—

Buybacks

0n/m

—

Change in total debt

—

(4,389)

—

Cash left over

—

(533)

—

FCF conversion (FCF ÷ net income)

—

182.1%

—

Owner earnings

—

9,014

—

Owner earnings margin

—

18.7%

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

25.7%

22.9%−2.8 pp

—

ROIC (operating)

97.7%

82.2%−15.5 pp

—

Net debt / EBITDA

1.69x

1.75x+0.06x

—

Debt / equity

3.15x

2.55x−0.60x

—

Cash conversion cycle (days)

66+6 d

—

ROE

−54.8%

38.2%+93.0 pp

—

ROA

−9.7%

7.8%+17.5 pp

—

ROCE

21.4%

25.6%+4.1 pp

—

NOPAT

14,759

12,890−12.7%

—

Invested capital (operating)

15,103

16,250+7.6%

—

Invested capital (all)

57,465

55,343−3.7%

—

Reinvestment rate

—

8.9%

—

Debtor days

73+5 d

—

Inventory days

20+1 d

—

Days payable

27−0 d

—

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

12,222

12,502

11,489

12,973

vs year-ago quarter

Gross profit

8,787

8,406

8,068

9,247

Gross margin

71.9%

67.2%

70.2%

71.3%

Net income

2,201

1,087

2,677

3,317

vs year-ago quarter

Net margin

18.0%

8.7%

23.3%

25.6%

EPS (diluted, $)

1.08

0.53

1.31

1.62

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

96,889

90,038

86,476

87,634

Cash & equivalents

15,726

10,218

9,583

8,722

Total debt

53,226

47,088

46,448

43,888

Shareholders’ equity

18,552

18,473

20,068

22,319

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

6,311

1,974

1,104

3,393

Capex

320

370

347

305

Free cash flow

5,991

1,604

757

3,088

vs year-ago quarter