Bristol Myers Squibb (BMY) financials
NYSE · Healthcare · Drug Manufacturers - General · 32,500 employees · CEO Christopher Boerner
- Price
- $62.48 +1.78%
- Market cap
- $128B
- Enterprise value
- $163B
- Last report
- Q3 '26 filed 2026-10-29
- Next report
- 2027-02-04 EPS est. $1.52
Revenue (TTM)$50B+4.2% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)26.1%+2.3 pp vs a year agoOperating income $13B
Net income (TTM)$9.24B+53.1% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$9.29B-39.3% vs a year agoCapex $1.37B
Diluted EPS (TTM)$4.51+52.6% vs a year agoSum of the last 4 quarters
Net cash-$32.2B+6.7% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $128B EV $163B
- Revenue
- $50B Trailing 12 months
- Revenue growth
- +4% FY2026 consensus
- Profit margin
- 18.5% Net income / revenue, TTM
- P/E
- 13.8× Forward 9.7× (FY2026)
- P/S
- 2.6× Price / sales, TTM
- EV / EBITDA
- 10.8× TTM
- Free cash flow
- $9.29B Trailing 12 months
- Net income
- $9.24B Trailing 12 months
- Revenue estimate
- $50.1B FY2026 consensus
- Earnings
- 2027-02-04 Revenue est. $12.7B
- Dividend
- $2.52 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 2.7%, EPS beat by 22.7%Revenue $13.1B vs $12.7B expected (+2.7%); EPS $1.35 vs $1.10 (+22.7%).
- Revenue growth accelerating: 6.9% year on yearQ3 '26 revenue $13.1B, against an average of 3.1% over the four quarters before.
- Operating margin 26.1% (TTM), +2.3 pp on a year agoOperating income grew 14.2% while revenue grew 4.2%.
- 15.1% of pre-tax profit is eaten by non-operating lossesPre-tax income $11.3B vs operating income $13B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 2.7% of revenue (a year ago 2.7%)$1.37B invested in the last 4 quarters (+3.6% on a year earlier). Free cash flow $9.29B = 100.5% of net income.
- Returned $5.22B to shareholders = 56.2% of free cash flowBuybacks $98M (a year earlier $0), dividends $5.12B, stock-based pay $552M (TTM).
- Diluted share count up 0.7% in a year2.05B diluted shares in Q3 '26, 2.04B a year earlier.
- Net debt $32.2BCash + short-term investments $12.6B, debt incl. leases $44.8B; a year ago net debt $34.5B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $13.1B | $12.2B | +6.9% |
| Gross margin | 68.3% | 71.9% | -3.6 pp |
| Operating income | $2.84B | $3.64B | -21.9% |
| Operating margin | 21.8% | 29.8% | -8.0 pp |
| Net income | $2.16B | $2.2B | -1.8% |
| Diluted EPS | $1.05 | $1.08 | -2.8% |
| Operating cash flow | $4.18B | $6.31B | -33.8% |
| Capex | $344M | $320M | +7.5% |
| Free cash flow | $3.84B | $5.99B | -36.0% |
| R&D | $2.37B | $2.53B | -6.4% |
| Stock-based compensation | $138M | $139M | -0.7% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $13.1B | $12.7B | +2.7% |
| EPS (as estimated) | $1.35 | $1.10 | +22.7% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Eliquis | $4.69B | +25.2% | 35.9% | $16.8B | +18.1% | |
| Opdivo | $2.37B | -6.2% | 18.2% | $9.7B | -1.4% | |
| Revlimid | $303M | -47.3% | 2.3% | $1.68B | -54.5% | |
| Orencia | $983M | +2.0% | 7.5% | $3.84B | +3.9% | |
| Pomalyst/Imnovid | $130M | -80.7% | 1.0% | $1.54B | -46.3% | |
| Yervoy | $793M | +7.3% | 6.1% | $3.02B | +9.3% | |
| Reblozyl | $750M | +22.0% | 5.7% | $2.71B | +22.6% | |
| Other Growth Brands | $731M | +42.2% | 5.6% | $2.5B | +31.8% | |
| Sprycel | $73M | -38.7% | 0.6% | $313M | -48.9% | |
| Breyanzi | $526M | +46.5% | 4.0% | $1.81B | +47.5% | |
| Camzyos | $420M | +41.9% | 3.2% | $1.5B | +60.2% | |
| Opdualag | $367M | +22.7% | 2.8% | $1.36B | +25.0% | |
| Opdivo Ovantig | $334M | +398.5% | 2.6% | $890M | – | |
| Abraxane | $65M | -12.2% | 0.5% | $254M | -44.5% | |
| Other Legacy Brands | $154M | -13.0% | 1.2% | $679M | -20.0% | |
| Zeposia | $168M | +4.3% | 1.3% | $614M | +6.6% | |
| Abecma | – | – | – | – | – | |
| Sotyktu | $100M | +25.0% | 0.8% | $342M | +18.8% | |
| Cobenfy | $57M | +32.6% | 0.4% | $226M | – | |
| Krazati | $58M | +9.4% | 0.4% | $219M | +16.5% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $9.07B | +8.9% | 95.7% | $34.4B | +3.3% | |
| Other Region | $403M | +39.0% | 4.3% | $1.29B | +14.1% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $10.7B
- Capex
- -$1.37B
- Buybacks
- -$98M
- Dividends
- -$5.12B
- Acquisitions
- -$2.7B
- Net debt issued
- -$6.26B
- Stock-based compensation
- $552M
- Free cash flow
- $9.29B
- Returned to shareholders / FCF
- 56.2%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 13.8× | 18.2× 4 of 5 years | 13.2× – 24.2× |
| EV / EBITDA | 10.8× | 16.8× | 7.0× – 49.1× |
| EV / Sales | 3.3× | 3.4× | 3.0× – 4.0× |
| Price / FCF | 13.8× | 9.4× | 8.2× – 12.8× |
| Price / Book | 5.5× | 5.1× | 3.6× – 7.0× |
| FCF yield | 7.3% | 10.9% | 7.8% – 12.2% |
| Return on invested capital | 14.9% | 10.2% | 8.0% – 15.0% |
| Return on equity | 43.9% | 10.1% | -54.8% – 38.2% |
Analysts
Consensus target $66.08 (+5.8%)
range $41.00 – $78.00 · rating Hold
Strong buy0
Buy19
Hold21
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $50.1B | +3.9% | $6.42 | +86.1% | 9.7× | 16 |
| FY2027 | $48.7B | -2.7% | $6.65 | +3.6% | 9.4× | 15 |
| FY2028 | $40.6B | -16.6% | $5.33 | -20.0% | 11.7× | 8 |
| FY2029 | $37.4B | -8.0% | $4.86 | -8.7% | 12.9× | 5 |
| FY2030 | $37.1B | -0.6% | $4.92 | +1.3% | 12.7× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 326 figures Bristol-Myers Squibb Company tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivable, after Allowance for Credit Loss, Noncurrent | $15M2025-12-31 | $452M | -96.7% | $15M | $452M | -96.7% |
| Accounts and Other Receivables, Net, Current | $1.45B | – | – | – | – | – |
| Accounts Payable, Current | $4.63B | $4.29B | +7.9% | $3.58B | $3.6B | -0.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $9.19B | $9.62B | -4.5% | $9.59B | $9.01B | +6.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $60M | $52M | +15.4% | $58M | $45M | +28.9% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $10B | $10.7B | -5.9% | $11.4B | $9.96B | +14.2% |
| Accrued Income Taxes, Current | $727M | $1.02B | -28.9% | $979M | $1.51B | -35.3% |
| Accrued Income Taxes, Noncurrent | $900M | $1.74B | -48.2% | $1.41B | $1.49B | -5.6% |
| Accrued Liabilities | $64M | $60M | +6.7% | $61M | $66M | -7.6% |
| Accrued Royalties, Current | $565M | $513M | +10.1% | $537M | $477M | +12.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $5.69B | $5.2B | +9.5% | $5.29B | $4.95B | +7.0% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $559M | $626M | -10.7% | $566M | $648M | -12.7% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$837M | -$872M | +4.0% | -$997M | -$968M | -3.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.28B | -$1.51B | +15.3% | -$1.52B | -$1.24B | -23.1% |
| Additional Paid in Capital | $46.7B | $46.3B | +0.9% | $46.4B | $46B | +0.8% |
| Amortization of Intangible Assets | $491M | $867M | -43.4% | $3.5B | $9B | -61.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 21M | -100.0% | 0 | 38M | -100.0% |
| AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | $120M | -$18M | +766.7% | $37M | $376M | -90.2% |
| AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | -$6M | $3M | -300.0% | $3M | $2M | +50.0% |
| Assets | $88.8B | $96.9B | -8.4% | $90B | $92.6B | -2.8% |
| Assets for Plan Benefits, Defined Benefit Plan | $335M | $281M | +19.2% | $330M | $234M | +41.0% |
| Assets, Current | $29.8B | $35.6B | -16.5% | $29.4B | $29.8B | -1.3% |
| Buildings and Improvements, Gross | $7.97B | $7.12B | +11.9% | $7.27B | $6.58B | +10.5% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $0 | $0 | – | $351M | $0 | – |
| Business Combination, Integration Related Costs | $10M | $36M | -72.2% | $147M | $284M | -48.2% |
| Cash and Cash Equivalents, at Carrying Value | $9.57B | $15.7B | -39.1% | $10.2B | $10.3B | -1.3% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $7M | -$26M | +126.9% | $72M | $186M | -61.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.57B | $15.7B | -39.1% | $10.2B | $10.3B | -1.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $852M | $3.12B | -72.6% | -$129M | -$1.17B | +89.0% |
| Common Stock, Dividends, Per Share, Declared | $0.63 | $0.62 | +1.6% | $2.49 | $2.42 | +2.9% |
| Common Stock, Par or Stated Value Per Share | $0.102025-12-31 | $0.10 | 0.0% | $0.10 | $0.10 | 0.0% |
| Common Stock, Shares Authorized | 4.5B2025-12-31 | 4.5B | 0.0% | 4.5B | 4.5B | 0.0% |
| Common Stock, Shares, Issued | 2.9B2025-12-31 | 2.9B | 0.0% | 2.9B | 2.9B | 0.0% |
| Common Stock, Value, Outstanding | $292M | $292M | 0.0% | $292M | $292M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | -$6M | +100.0% | $2M | $15M | -86.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.17B | $2.24B | -3.2% | $6.77B | -$8.64B | +178.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $2.17B | $2.24B | -2.9% | $6.77B | -$8.63B | +178.5% |
| Construction in Progress, Gross | $1.48B | $1.46B | +1.9% | $1.62B | $1.53B | +6.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $85M | $224M | -62.1% | $192M | $385M | -50.1% |
| Contract with Customer, Performance Obligation Satisfied in Previous Period | $469M | $318M | +47.5% | $1.3B | $797M | +63.1% |
| Contractual Obligation | – | – | – | $6.4B2021-06-30 | – | – |
| Cost of Goods and Services Sold | $4.15B | $3.44B | +20.7% | $13.9B | $14B | -0.2% |
| Costs and Expenses | $10.5B | $9.11B | +15.6% | $38.9B | $56.7B | -31.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.7B | $1.28B | +32.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.54B | $1.36B | +12.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.24B | $2.64B | +22.5% |
| Debt Instrument, Face Amount | $42.4B | $48.2B | -12.1% | $44.3B | $48.9B | -9.4% |
| Debt Instrument, Fair Value Disclosure | $36B | $45.8B | -21.4% | $41.5B | $45.3B | -8.4% |
| Debt Instrument, Unamortized Discount | $330M | $367M | -10.1% | $347M | $390M | -11.0% |
| Debt Instrument, Unamortized Premium | $725M | $787M | -7.9% | $751M | $823M | -8.7% |
| Debt Securities, Available-for-sale, Current | $3.01B | $776M | +287.5% | $464M | $513M | -9.6% |
| Debt Securities, Available-for-sale, Noncurrent | $378M | $406M | -6.9% | $396M | $320M | +23.8% |
| Debt, Current | $1.03B | $4.51B | -77.2% | $2.26B | $2.05B | +10.5% |
| DebtInstrumentRepaidPrincipal | $0 | – | – | – | – | – |
| Deferred Compensation Liability, Classified, Noncurrent | $514M | $487M | +5.5% | $487M | $456M | +6.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$1.11B | -$2.19B | +49.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $142M | $96M | +47.9% |
| Deferred Income Tax Assets, Net | $5.88B | $4.96B | +18.6% | $5.38B | $4.24B | +27.0% |
| Deferred Income Tax Expense (Benefit) | -$510M | -$359M | -42.1% | -$965M | -$2.09B | +53.8% |
| Deferred Income Tax Liabilities, Net | $228M | $225M | +1.3% | $222M | $369M | -39.8% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01