Bristol Myers Squibb Co

Health Care
Biotechnology: Pharmaceutical Preparations
www.bms.com

Earnings Score
Safety Score

Market Cap $119.35B
PE -16
Debt $50.63B
Cash $7.89B
EV $162.08B
FCF $13.80B

Earnings

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Sales & Net Margins

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Earnings	-$7.26B
ROE	-42%
FCF	$13.80B
Equity	$17.20B
Growth Stability	-290%
PE	-16.44
PEG	-1.49
PB	6.94
P/FCF	8.65
P/S	2.52
Price/Cash	0.07
Debt/Equity	2.94
Debt/FCF	3.67
Net Margins	-25%
Gross Margins	75%
Earnings CAGR	6%
Sales Growth YoY	8%
Sales Growth QoQ	-3%
Sales CAGR	15%
FCF CAGR	37%
Equity CAGR	10%
Earnings Stability	0.1
Earnings Growth YoY	-37%
Earnings Growth QoQ	-28%
Earnings CAGR 5Y	11%

Sales CAGR 5Y	8%
FCF CAGR 5Y	4%
Equity CAGR 5Y	-19%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	-5%
Equity CAGR 3Y	-24%
Market Cap	$119.35B
Revenue	$47.44B
Dividend Yield	4%
Payout Ratio	-66%
Assets	$93.67B
Total Debt	$50.63B
Cash	$7.89B
Shares Outstanding	2.03B
EV	162.08B
Earnings Score	7%
Safety Score	49%
Working Capital	5.44B
Current Ratio	1.24
Gross Profit	$35.53B
Shares Growth 3y	-3%
Equity Growth QoQ	1%
Equity Growth YoY	-41%

Assets & ROA

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Stockholders Equity & ROE

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Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development. Unlike some of its more diversified peers, Bristol has exited several nonpharmaceutical businesses to focus on branded specialty drugs, which tend to support strong pricing power.

SEC Filings

Direct access to Bristol Myers Squibb Co (BMY) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Bristol Myers Squibb Co compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Bristol Myers Squibb Co compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 6%

Stability 10%

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Bristol Myers Squibb Co Discounted Cash Flow

Fully customizable DCF calculator online for Bristol Myers Squibb Co.

Years

Calculation mode

= $1.8T

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$14B	$19B	$26B	$35B	$49B	$66B	$91B	$125B	$170B	$233B	$320B	$3.2T
DCF		$17B	$21B	$27B	$33B	$41B	$51B	$64B	$80B	$99B	$123B	$1.2T
Value	$1.8T

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	13%	9%	23%	5%	22%	13%	-21%	15%	14%	18%	-25%
ROA	-	7%	18%	16%	18%	4%	-5%	7%	8%	9%	-
ROE	-	11%	27%	8%	35%	7%	-24%	19%	20%	27%	-42%

Bad Net Margins (-25.08%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	6.61	4.1	1.89	1.72	6.84	3.96	3.24	3.62	3.37	3.67
Debt over Equity	0.52	0.46	0.41	0.67	0.61	0.96	1.39	1.37	1.39	1.45	2.94
Growth Stability	-	-	-	36%	100%	100%	-290%	-	100%	100%	-290%

Neutral Debt/FCF ratio (3.67)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Bad Debt/Equity ratio (2.94)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-290%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	4%	17%	7%	9%	16%	63%	9%	-0%	-2%	8%
Earnings YoY growth	-	-22%	185%	-78%	405%	-30%	-362%	-178%	-10%	27%	11%
Equity YoY growth	-	-4%	13%	-28%	19%	266%	-27%	-5%	-14%	-5%	-19%
FCF YoY growth	-	-61%	62%	158%	18%	45%	84%	15%	-22%	6%	4%