BMY

MKT CAP:$120B

Bristol-Myers Squibb Company

Market Cap

$120B

Healthcare·Drug Manufacturers - General·🇺🇸 United States·NYSE

Healthcare·Drug Mfg.·🇺🇸·NYSE

Stock Price

$58.70+$5.23 (+9.79%)

Apr 24, 2026

Company Details

Bristol-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 diseas...

CEO

Christopher S. Boerner

IPO Date

Jun 1, 1972

Website

www.bms.com

Key Metrics TTM

Revenue

$48.2B

+1.6% YoY

Net Income

$7.1B

EPS (Diluted)

$3.45

Free Cash Flow

$12.8B

Revenue / Share

$23.61

Gross Margin

67.6%

Operating Margin

26.3%

Net Margin

14.6%

FCF Margin

26.7%

P/S

2.5x

P/E

17.0x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 11, 2026

$48.2B-0.2%EPS $3.45

Q4 2025

Feb 11, 2026

$12.5BEPS $0.53

Q3 2025

Oct 30, 2025

$12.2B+2.8%EPS $1.08

Q2 2025

Jul 31, 2025

$12.3B+0.6%EPS $0.64

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$11.6B	$6.8B	$1.7B
Q4 21	$12.0B	$7.2B	$2.2B
Q1 22	$11.6B	$6.8B	$2.7B
Q3 22	$11.2B	$6.4B	$2.2B
Q4 22	$11.4B	$6.5B	$1.7B
Q1 23	$11.3B	$6.5B	$2.5B
Q2 23	$11.2B	$6.1B	$1.9B
Q3 23	$11.0B	$6.2B	$2.1B
Q4 23	$11.5B	$6.5B	$2.0B
Q1 24	$11.9B	$6.6B	$1.5B
Q2 24	$12.2B	$6.8B	$2.6B
Q3 24	$11.9B	$6.6B	$2.3B
Q1 25	$11.2B	$7.3B	$3.5B
Q2 25	$12.3B	$8.1B	$4.1B
Q3 25	$12.2B	$8.8B	$3.6B
Q4 25	$12.5B	$8.4B	$1.4B

Valuation

Quarter	P/S	P/E
Q3 21	3.0x	—
Q4 21	2.9x	—
Q1 22	3.4x	21.7x
Q3 22	3.2x	21.9x
Q4 22	3.2x	20.5x
Q1 23	3.2x	20.3x
Q2 23	2.9x	16.6x
Q3 23	2.6x	14.2x
Q4 23	2.3x	13.1x
Q1 24	2.4x	—
Q2 24	1.8x	—
Q3 24	2.2x	—
Q1 25	2.6x	—
Q2 25	2.0x	14.2x
Q3 25	1.9x	12.5x
Q4 25	2.3x	15.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$5.3B	$5.0B
Q4 21	$4.1B	$3.7B
Q1 22	$3.8B	$3.6B
Q3 22	$3.7B	$3.4B
Q4 22	$3.3B	$3.0B
Q1 23	$3.0B	$2.7B
Q2 23	$1.9B	$1.6B
Q3 23	$4.8B	$4.4B
Q4 23	$4.3B	$3.9B
Q1 24	$2.8B	$2.5B
Q2 24	$2.3B	$2.1B
Q3 24	$5.6B	$5.3B
Q1 25	$2.0B	$1.7B
Q2 25	$3.9B	$3.6B
Q3 25	$6.3B	$6.0B
Q4 25	$2.0B	$1.6B

Capital Expenditures

Quarter	CapEx
Q3 21	$270M
Q4 21	$320M
Q1 22	$253M
Q3 22	$247M
Q4 22	$346M
Q1 23	$278M
Q2 23	$259M
Q3 23	$342M
Q4 23	$330M
Q1 24	$284M
Q2 24	$262M
Q3 24	$324M
Q1 25	$260M
Q2 25	$361M
Q3 25	$320M
Q4 25	$370M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+46.3%	+36.6%
Q4 21	+13.7%	+6.3%
Q1 22	+5.2%	-13.5%
Q3 22	+1.3%	+1.3%
Q4 22	-1.9%	-2.0%
Q1 23	-5.4%	-8.9%
Q2 23	-3.6%	+3.9%
Q3 23	-2.2%	-1.4%
Q4 23	+0.6%	-1.7%
Q1 24	+4.7%	+16.3%
Q2 24	+8.7%	+3.6%
Q3 24	+8.4%	+8.4%
Q1 25	-2.4%	-19.4%
Q2 25	+3.4%	-21.1%
Q3 25	+0.2%	-10.8%
Q4 25	+5.1%	+15.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$142M	1.2%
Q4 21	$133M	1.1%
Q1 22	$107M	0.9%
Q3 22	$115M	1.0%
Q4 22	$119M	1.0%
Q1 23	$122M	1.1%
Q2 23	$137M	1.2%
Q3 23	$132M	1.2%
Q4 23	$127M	1.1%
Q1 24	$133M	1.1%
Q2 24	$125M	1.0%
Q3 24	$129M	1.1%
Q1 25	$144M	1.3%
Q2 25	$137M	1.1%
Q3 25	$139M	1.1%
Q4 25	$133M	1.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 21	$3.3B	—	—	$1.8B
Q4 21	$2.6B	—	—	$2.4B
Q1 22	$2.2B	—	—	$1.8B
Q3 22	$2.4B	—	—	$1.9B
Q4 22	$2.5B	—	—	$2.3B
Q1 23	$2.3B	—	—	$1.8B
Q2 23	$2.3B	—	—	$1.9B
Q3 23	$2.2B	—	—	$1.9B
Q4 23	$2.5B	$664M	$1.4B	—
Q1 24	$2.7B	—	$2.4B	—
Q2 24	$2.3B	—	—	$1.9B
Q3 24	$2.4B	—	$2.0B	—
Q1 25	$2.2B	—	$1.6B	—
Q2 25	$2.3B	—	—	$1.7B
Q3 25	$2.5B	—	—	$1.8B
Q4 25	$2.6B	$2.2B	—	—

Revenue Segments

Quarter	Abecma	Abraxane	Breyanzi	Eliquis	Mature Products And All Other	Opdivo	Orencia	Pomalyst/Imnovid	Reblozyl	Revlimid	Sprycel	Yervoy	Zeposia	Opdualag	Camzyos	Sotyktu	Krazati	Other Growth Brands	Other Legacy Brands	Cobenfy	Opdivo Ovantig
Q3 21	$71M	$266M	$30M	$2.4B	$339M	$1.9B	$870M	$851M	$160M	$3.3B	$551M	$515M	$40M	—	—	—	—	—	—	—	—
Q4 21	$69M	$305M	$40M	$2.7B	$903M	$2.0B	$864M	$854M	$151M	$3.3B	$555M	$545M	$48M	—	—	—	—	—	—	—	—
Q1 22	$67M	$214M	$44M	$3.2B	$462M	$1.9B	$792M	$826M	$156M	$2.8B	$483M	$515M	$36M	$6M	—	—	—	—	—	—	—
Q3 22	$107M	$177M	$44M	$2.7B	$441M	$2.0B	$883M	$886M	$190M	$2.4B	$560M	$523M	$69M	$84M	$5M	$1M	—	—	—	—	—
Q4 22	$125M	$179M	$55M	$2.7B	$411M	$2.2B	$913M	$877M	$199M	$2.3B	$578M	$568M	$79M	$104M	$16M	$7M	—	—	—	—	—
Q1 23	$147M	$239M	$71M	$3.4B	$467M	$2.2B	$764M	$832M	$206M	$1.8B	$429M	$508M	$78M	$117M	$29M	$16M	—	—	—	—	—
Q2 23	$132M	$258M	$100M	$3.2B	$472M	$2.1B	$927M	$847M	$234M	$1.5B	$458M	$585M	$100M	$154M	$46M	$25M	—	—	—	—	—
Q3 23	$93M	$260M	$92M	$2.7B	$476M	$2.3B	$925M	$872M	$248M	$1.4B	$517M	$579M	$123M	$166M	$68M	$66M	—	—	—	—	—
Q4 23	$100M	$247M	$101M	$2.9B	—	$2.4B	$985M	$890M	$320M	$1.4B	$526M	$566M	$133M	$190M	$88M	$63M	—	—	—	—	—
Q1 24	$82M	$217M	$107M	$3.7B	—	$2.1B	$798M	$865M	$354M	$1.7B	$374M	$583M	$110M	$206M	$84M	$44M	$21M	$319M	$228M	—	—
Q2 24	$95M	$231M	$153M	$3.4B	—	$2.4B	$948M	$959M	$425M	$1.4B	$424M	$630M	$151M	$235M	$139M	$53M	$32M	$341M	$222M	—	—
Q3 24	$124M	$253M	$224M	$3.0B	—	$2.4B	$936M	$898M	$447M	$1.4B	$290M	$642M	$147M	$233M	$156M	$66M	$34M	$433M	$225M	—	—
Q1 25	$103M	$105M	$263M	$3.6B	—	$2.3B	$770M	$658M	$478M	$936M	$175M	$624M	$107M	$252M	$159M	$55M	$48M	$403M	$199M	$27M	$9M
Q2 25	$87M	$105M	$344M	$3.7B	—	$2.6B	$963M	$708M	$568M	$838M	$120M	$728M	$150M	$284M	$260M	$70M	$48M	$470M	$223M	$35M	$30M
Q3 25	$137M	$74M	$359M	$3.7B	—	$2.5B	$964M	$675M	$615M	$575M	$119M	$739M	$161M	$299M	$296M	$80M	$53M	$514M	$177M	$43M	$67M
Q4 25	$100M	$84M	$392M	$3.5B	—	$2.7B	$1.0B	$692M	$666M	$602M	$79M	$809M	$159M	$350M	$353M	$86M	$56M	$537M	$199M	$50M	$132M

Revenue by Geography

Quarter	Europe	Other Region	Rest Of World	United States
Q3 21	$2.7B	$276M	$1.4B	$7.3B
Q4 21	$2.8B	$221M	$1.5B	$7.5B
Q1 22	$2.4B	$227M	$1.3B	$7.7B
Q3 22	—	$215M	$3.1B	$7.9B
Q4 22	$3.3B	$200M	—	$7.9B
Q1 23	—	$155M	$3.1B	$8.0B
Q2 23	—	$175M	$3.2B	$7.9B
Q3 23	—	$185M	$3.2B	$7.6B
Q4 23	—	$184M	$3.3B	$8.0B
Q1 24	—	$199M	$3.2B	$8.5B
Q2 24	—	$176M	$3.2B	$8.8B
Q3 24	—	$271M	$3.4B	$8.2B
Q1 25	—	$218M	$3.1B	$7.9B
Q2 25	—	$270M	$3.5B	$8.5B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$12.4B	$2.8B	$15.2B
Q2 22	$10.8B	$2.5B	$13.3B
Q3 22	$7.7B	$1.3B	$9.0B
Q4 22	$9.1B	$130M	$9.3B
Q1 23	$9.0B	$274M	$9.3B
Q2 23	$8.4B	$358M	$8.7B
Q3 23	$7.5B	$171M	$7.7B
Q4 23	$11.5B	$816M	$12.3B
Q1 24	$9.3B	$340M	$9.7B
Q2 24	$6.3B	$360M	$6.7B
Q3 24	$7.9B	$204M	$8.1B
Q4 24	$10.3B	$513M	$10.9B
Q1 25	$10.9B	$907M	$11.8B
Q2 25	$12.6B	$1.0B	$13.6B
Q3 25	$15.7B	$776M	$16.5B
Q4 25	$10.2B	$464M	$10.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	2.24B	-1.0%	+16.9%
Q4 21	2.22B	-1.1%	-3.1%
Q1 22	2.16B	-2.5%	-3.9%
Q3 22	2.15B	-0.7%	-5.2%
Q4 22	2.12B	-1.1%	-5.3%
Q1 23	2.11B	-0.5%	-4.8%
Q2 23	2.10B	-0.5%	-2.9%
Q3 23	2.06B	-1.8%	-3.9%
Q4 23	2.03B	-1.5%	-4.3%
Q1 24	2.02B	-0.5%	-4.3%
Q2 24	2.03B	+0.3%	-3.5%
Q3 24	2.03B	+0.1%	-1.6%
Q1 25	2.04B	+0.3%	+0.2%
Q2 25	2.04B	+0.0%	+0.7%
Q3 25	2.04B	-0.0%	+0.4%
Q4 25	2.04B	+0.1%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$384.3K	30K
Q4 21	$372.2K	32K
Q1 22	$361.7K	32K
Q3 22	$348.4K	32K
Q4 22	$332.5K	34K
Q1 23	$330.5K	34K
Q2 23	$327.3K	34K
Q3 23	$319.7K	34K
Q4 23	$336.6K	34K
Q1 24	$347.9K	34K
Q2 24	$357.8K	34K
Q3 24	$348.7K	34K
Q1 25	$328.5K	34K
Q2 25	$359.8K	34K
Q3 25	$358.4K	34K
Q4 25	$384.7K	33K

Revenue / Employee