Health Care · Pharmaceuticals · US stock · price as of 16 Oct 2026
Key indicators
Price
$59.75
52-week range
$40.71 – $67.94
Market cap
$122.4B
P/E (trailing)
13.2×
EV / EBITDA
9.2×
Free-cash-flow yield
9.3%
Dividend yield
4.2%
Revenue (last 12 months)
$49.2B
Revenue growth (3y a year)
1.4%
Operating margin
27.7%
Return on invested capital
19.3%
Net debt / EBITDA
2.0×
Fair value
Blended fair value$66.99 range $62 – $73
Versus priceFair+12% to fair value
Peer multiples
$50.40
Fundamentals-adjusted multiple
$51.71
10-year DCF (market-scaled)
$98.84
Earnings power value (floor, not blended)
$14.93
Model uncertainty
High
X-Ray Score
59/ 100 · High confidence · ahead of 68% of sector peers
Valuation82
Growth33
Profitability58
Financial health57
Dividends55
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Bristol Myers Squibb is a biopharmaceutical company that researches, develops and sells prescription medicines. Its portfolio focuses on cancer, immune disorders, heart disease and blood conditions. The company earns money by selling branded drugs to wholesalers, hospitals and pharmacies, and by collaborating with other drug makers. Sales are shaped by patent protection, so the loss of exclusivity on a major medicine can reduce revenue, and new drug approvals matter to its outlook.
Over the latest twelve months the company reported revenue of $49.2 billion, and annual revenue rose by 1.4% on average across three years. Profitability at the operating level stands at 27.7%, and return on invested capital came to 19%. The company carries net debt of 2.0 times its EBITDA. A dividend is paid, with a yield of 4.2%.
StocksXray gives Bristol Myers Squibb Co an X-Ray Score of 59 out of 100 (high confidence), ahead of 68% of the S&P 500 stocks in its sector. Its strongest lens is valuation (82) and its weakest is growth (33).
Our fair value blend is $66.99 (range $61.63 to $72.62). At $59.75 the stock trades 11% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Bristol Myers Squibb Co (BMY)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$50.69
$60.31
$44.55
$51.59
$51.64
$59.75
Market cap
$113.8B
$129.4B
$92.6B
$104.6B
$105.3B
$122.4B
P/E
16.2×
20.4×
11.5×
–
14.9×
13.2×
EV / revenue
3.2×
3.5×
2.7×
3.0×
2.9×
3.2×
EV / EBITDA
7.3×
8.5×
6.4×
45.8×
9.3×
9.2×
Price / free cash flow
7.5×
10.8×
7.3×
7.5×
8.2×
10.7×
Free-cash-flow yield
13.4%
9.2%
13.7%
13.3%
12.2%
9.3%
Price / book
3.2×
4.2×
3.1×
6.4×
5.7×
5.5×
Dividend yield
3.97%
3.63%
5.19%
4.69%
4.82%
4.22%
Fundamentals checklist ● 6 Good · ● 9 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.0%Average
Free-cash-flow yield9.3%Good
Risk models
Altman Z score2.9×Average
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)5.5%Average
Free-cash-flow growth (3y)2.4%Average
Revenue growth (3y)1.4%Bad
Growth consistency90%Average
Balance sheet
Current ratio1.5×Average
Net debt / EBITDA2.0×Average
Interest cover7.9×Average
Valuation
Fair value vs price1.1×Average
EBIT / EV yield8.8%Good
Profitability
Return on invested capital19.3%Good
Operating margin27.7%Good
Gross profitability39.4%Good
XStocksXray
Bristol Myers Squibb Co (BMY)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
46,385
46,159
45,006
48,300
48,194
49,186
Gross profit
36,445
36,022
34,313
34,332
34,258
34,507
Operating income
9,432
8,945
9,606
-6,432
11,219
13,640
Net income
6,994
6,327
8,025
-8,948
7,054
9,282
Diluted EPS ($)
3.12
2.95
3.86
-4.41
3.46
4.54
Free cash flow
15,234
11,948
12,651
13,942
12,845
11,440
Gross margin
78.6%
78.0%
76.2%
71.1%
71.1%
70.2%
Operating margin
20.3%
19.4%
21.3%
−13.3%
23.3%
27.7%
Net margin
15.1%
13.7%
17.8%
−18.5%
14.6%
18.9%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
109,314
96,820
95,159
92,603
90,038
87,634
Cash
13,979
9,123
11,464
10,346
10,209
8,722
Total debt
49,317
43,217
42,645
51,477
47,088
43,888
Equity
35,946
31,061
29,430
16,335
18,473
22,319
Dividend per share ($)
2.01
2.19
2.31
2.42
2.49
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.