BMY Q4 2025 Earnings Report — Bristol-Myers Squibb Company Revenue & Financial Results | Market Cap Arena

Bristol-Myers Squibb CompanyBMY

Q4 2025 Earnings

Reported February 11, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2025	Q3 2025	Q4 2024	QoQ Change	YoY Change
Revenue	$12.5B	$12.2B	—	2.3%	—
Op. Income	$1.4B	$3.6B	—	-61.0%	—
Gross Margin	67.2%	71.9%	—	-4.7pp	—
Net Margin	8.7%	18.0%	—	-9.3pp	—
EPS (Diluted)	$0.53	$1.08	—	-50.9%	—
Free Cash Flow	$1.6B	$6.0B	—	-73.2%	—

Revenue Flow

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$4.1B
GROSS PROFIT	$8.4B
R&D Expenses	$2.6B
Selling & Marketing	$0
General & Administrative	$2.2B
SG&A Expenses	$2.2B
Other Expenses	$2.2B
Operating Expenses	$7.0B
Cost & Expenses	$11.1B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	$51M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$384M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$826M
EBIT	$1.4B
EBITDA	$2.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$12.5B
Cost of Revenue	$4.1B
GROSS PROFIT	$8.4B
R&D Expenses	$2.6B
Selling & Marketing	$0
General & Administrative	$2.2B
SG&A Expenses	$2.2B
Other Expenses	$2.2B
Operating Expenses	$7.0B
Cost & Expenses	$11.1B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	$51M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$384M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$826M
EBIT	$1.4B
EBITDA	$2.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$977M
Stock-Based Compensation	$133M
Deferred Income Tax	-$392M
Other Non-Cash Items	$1.8B
Change in Working Capital	-$1.7B
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$370M
Acquisitions (Net)	-$1.4B
Purchases of Investments	-$78M
Sales/Maturities of Investments	$418M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.5B
Net Debt Issuance	-$4.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$1.3B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$6.0B
FREE CASH FLOW	$1.6B
Net Change in Cash	-$5.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$10.2B
Short-Term Investments	$464M
Net Receivables	$14.5B
Inventory	$2.7B
Other Current Assets	$1.5B
TOTAL CURRENT ASSETS	$29.4B
PP&E (Net)	$9.1B
Goodwill	$21.8B
Intangible Assets	$19.4B
Long-Term Investments	$2.5B
Tax Assets	$5.4B
Other Non-Current Assets	$2.5B
TOTAL NON-CURRENT ASSETS	$60.6B
TOTAL ASSETS	$90.0B
Account Payables	$3.6B
Short-Term Debt	$2.3B
Deferred Revenue	$0
Other Current Liabilities	$14.6B
TOTAL CURRENT LIABILITIES	$23.4B
Long-Term Debt	$42.9B
Deferred Revenue NC	$169M
Deferred Tax Liabilities	$222M
Other Non-Current Liabilities	$3.0B
TOTAL NON-CURRENT LIABILITIES	$48.1B
TOTAL LIABILITIES	$71.5B
Common Stock	$292M
Additional Paid-In Capital	$46.4B
Retained Earnings	$16.9B
Treasury Stock	-$43.6B
Accum. Other Comp. Income	-$1.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$18.5B
Minority Interest	$33M
TOTAL EQUITY	$18.5B
TOTAL LIABILITIES & EQUITY	$90.0B
Total Debt	$47.1B
Net Debt	$36.9B