Bristol-Myers Squibb Company
- Open
- 66.25
- Day high
- 67.20
- Day low
- 65.91
- Prev close
- 66.58
- Volume
- 11.6M
- Mkt cap
- $136.5B
- P/E (TTM)
- 14.7
- EPS (TTM)
- $4.54
- P/B
- 6.1
- P/S
- 2.8
- Yield
- 3.76%
- Per share
- $2.51
- ▼Insiders net selling -$34K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Bristol-Myers Squibb Company (BMY) is a Healthcare company listed on NYSE. The stock is up 40% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering BMY.
Bristol-Myers Squibb Company (BMY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BMY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $1.59 | $2.04 | +28.1% | $13.0B | +10.2% |
| Apr 30, 2026 | $1.42 | $1.58 | +11.3% | $11.5B | +5.0% |
| Feb 5, 2026 | $1.23 | $1.26 | +2.4% | $12.5B | +1.7% |
| Oct 30, 2025 | $1.52 | $1.63 | +7.2% | $12.2B | +3.0% |
| Jul 31, 2025 | $1.09 | $1.46 | +33.9% | $12.3B | +6.6% |
| Apr 24, 2025 | $1.49 | $1.80 | +20.8% | $11.2B | +3.7% |
| Feb 6, 2025 | $1.47 | $1.67 | +13.6% | $12.3B | +6.4% |
| Oct 31, 2024 | $1.49 | $1.80 | +20.8% | $11.9B | +5.6% |
| Jul 26, 2024 | $1.62 | $2.07 | +27.8% | $12.2B | +5.9% |
| Apr 25, 2024 | $-4.41 | $-4.40 | +0.2% | $11.9B | +3.5% |
| Feb 2, 2024 | $1.53 | $1.70 | +11.4% | $11.5B | +2.6% |
| Oct 26, 2023 | $1.76 | $2.00 | +13.4% | $11.0B | +0.1% |
BMY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Holzer Phil Mofficer: SVP and Controller | Sell | 500 | $67.50 |
| Aug 4, 2026 | Massacesi Cristianofficer: EVP,Chief Med Offr,Head of Dev | Option | 51,172 | — |
| Aug 4, 2026 | Gallman Cariofficer: EVP, General Counsel | Tax | 543 | $65.31 |
| Aug 4, 2026 | Massacesi Cristianofficer: EVP,Chief Med Offr,Head of Dev | Tax | 26,175 | $65.31 |
| Aug 4, 2026 | Gallman Cariofficer: EVP, General Counsel | Option | 1,061 | — |
| Jul 2, 2026 | McMullen Michael R.director | Grant | 607 | — |
| Jul 2, 2026 | Rice Derica Wdirector | Grant | 673 | — |
| Jul 2, 2026 | Arduini Peter Jdirector | Grant | 607 | — |
| Jul 2, 2026 | YALE PHYLLIS Rdirector | Grant | 607 | — |
| Jul 2, 2026 | Samuels Theodore R. IIdirector | Grant | 889 | — |
| Jun 16, 2026 | Haller Julia Adirector | Option | 20,460 | $53.76 |
| Jun 5, 2026 | Short Bartie Wendyofficer: EVP, Corporate Affairs | Option | 8,040 | — |
| Jun 5, 2026 | Short Bartie Wendyofficer: EVP, Corporate Affairs | Tax | 3,876 | $54.72 |
| May 5, 2026 | Lenkowsky Adamofficer: EVP, Chief Commercial Officer | Tax | 599 | $58.22 |
| May 5, 2026 | Lenkowsky Adamofficer: EVP, Chief Commercial Officer | Option | 1,373 | — |
Source: BMY SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full BMY insider & 13F page →Bristol-Myers Squibb Company company profile
Overview
Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company founded in 1887 and headquartered in New York. The company was formed through the merger of Bristol-Myers Company and Squibb Corporation, with Bristol-Myers Company tracing its origins to the Clinton Pharmaceutical Company established by William McLaren Bristol and John Ripley Myers. Today, Bristol-Myers Squibb stands as one of the world's leading pharmaceutical companies, focusing on discovering, developing, and commercializing innovative medicines for serious diseases including cancer, cardiovascular conditions, immunological disorders, and neurological conditions.
Business
Bristol-Myers Squibb operates in the global pharmaceutical industry, specifically in the development and commercialization of biopharmaceutical products - medicines derived from biological sources or created using biotechnology processes. The company's business spans multiple therapeutic areas, each addressing different medical conditions and patient populations. The company's operations are organized around several key therapeutic segments. Oncology represents the largest segment, focusing on cancer treatments and generating approximately 40-45% of total revenues. Key products include Opdivo (nivolumab), an immunotherapy drug that helps the immune system fight cancer, and Yervoy (ipilimumab), another immunotherapy treatment. Cardiovascular medicine accounts for roughly 25-30% of revenues, dominated by Eliquis (apixaban), an oral anticoagulant that prevents blood clots and reduces stroke risk in patients with atrial fibrillation. Hematology products, representing about 15-20% of revenues, include treatments for blood cancers and disorders. Notable products include Revlimid (lenalidomide) for multiple myeloma treatment, Reblozyl for anemia associated with blood disorders, and advanced cell therapies like Breyanzi and Abecma - genetically modified T-cell treatments that reprogram a patient's immune cells to fight cancer. The Immunology segment, contributing approximately 5-10% of revenues, includes treatments for autoimmune conditions like Orencia for rheumatoid arthritis and Sotyktu for psoriasis. The company's newest therapeutic area is Neuroscience, launched with Cobenfy (KarXT), the first novel treatment for schizophrenia approved in decades. This represents Bristol-Myers Squibb's entry into treating mental health conditions through innovative mechanisms that target muscarinic receptors rather than traditional dopamine pathways.
Revenue model
Bristol-Myers Squibb generates revenue primarily through direct product sales to healthcare systems, with customers including wholesalers, distributors, pharmacies, hospitals, clinics, and government agencies. The company operates under a traditional pharmaceutical business model where it invests heavily in research and development to create proprietary medicines, then commercializes these products during their patent protection period. The company's revenue streams come from selling patented medications at premium prices, typically ranging from hundreds to thousands of dollars per treatment cycle depending on the therapy's complexity and medical value. For example, cancer immunotherapies like Opdivo can cost tens of thousands of dollars annually per patient, while oral medications like Eliquis generate revenue through high-volume prescriptions at lower per-unit prices but with broad patient populations. Several factors significantly impact Bristol-Myers Squibb's profitability and margins. Patent expiration represents the most critical threat, as generic competition can reduce branded drug revenues by 80-90% within months of patent loss. The company faces ongoing patent cliffs, particularly with legacy products like Revlimid. Regulatory pricing pressures increasingly affect margins, especially through government initiatives like the U.S. Inflation Reduction Act, which allows Medicare to negotiate drug prices for the first time. Competition from biosimilars and new entrants can erode market share even before patent expiration, while healthcare reimbursement policies influence patient access and pricing power. Manufacturing and supply chain costs, particularly for complex biologics and cell therapies, significantly impact gross margins. Conversely, successful new product launches, expanded indications for existing drugs, and international market penetration can drive margin expansion and revenue growth.
Competitive moat
Bristol-Myers Squibb possesses a moderate to strong competitive moat built primarily on its extensive patent portfolio, regulatory expertise, and specialized manufacturing capabilities. The company's strongest moat exists in complex therapeutic areas like oncology immunotherapy and cell therapy, where high regulatory barriers, significant clinical development costs, and specialized manufacturing requirements create substantial entry barriers. The company's intellectual property portfolio provides temporary but valuable protection, with key patents on major products extending exclusivity periods. Its deep expertise in conducting large-scale clinical trials and navigating complex regulatory pathways represents a significant competitive advantage, as does its established relationships with healthcare providers and payers globally. However, Bristol-Myers Squibb's moat faces several challenges. The pharmaceutical industry's fundamental characteristic is that patent expiration eventually eliminates exclusivity, requiring constant innovation to maintain competitive positioning. The company's moat is weakening in some areas due to increasing competition from biosimilars, growing regulatory pricing pressures, and the emergence of new therapeutic modalities from both established competitors and innovative biotechnology companies. The company's position in cell therapy and advanced biologics represents its strongest moat area, as these treatments require specialized manufacturing facilities, complex quality control systems, and extensive clinical expertise that few competitors can replicate quickly. However, in more traditional small-molecule drugs, the moat is relatively narrow and primarily dependent on patent protection and brand recognition among healthcare providers.
Risks & safety
Bristol-Myers Squibb demonstrates a moderate margin of safety with some financial strengths offset by structural industry challenges and elevated debt levels. • Liquidity and Cash Position: Strong cash position of $10.9 billion as of Q1 2025, with positive operating cash flow of approximately $15.2 billion annually, providing substantial financial flexibility • Debt and Solvency: High debt-to-equity ratio of 2.95, reflecting significant leverage from recent acquisitions, but manageable given strong cash generation capabilities; current ratio of 1.28 indicates adequate short-term liquidity • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 12.6 and EV/EBITDA of 9.1, suggesting the stock is not overvalued relative to earnings; however, negative net income in 2024 (-$8.9 billion) due to large acquisition-related charges raises concerns about underlying profitability • Other Considerations: Patent cliff risks with legacy products, ongoing pricing pressures from healthcare policy changes, and substantial R&D investment requirements that may not generate returns create ongoing financial uncertainties
Recent development
Over the past several years, Bristol-Myers Squibb has undergone significant strategic transformation focused on building a diversified growth portfolio while managing patent cliff challenges. The company's most notable strategic move was the $14 billion acquisition of Karuna Therapeutics in 2024, bringing Cobenfy (KarXT) - the first novel schizophrenia treatment in decades - into its portfolio and establishing a new neuroscience therapeutic area. The company has aggressively expanded its oncology pipeline through multiple acquisitions, including Mirati Therapeutics for oncology assets, RayzeBio for radiopharmaceutical capabilities, and SystImmune for bispecific antibody-drug conjugates. These acquisitions represent a strategic shift toward next-generation cancer treatments and novel therapeutic modalities. Bristol-Myers Squibb has successfully launched several first-in-class medicines, including Opdualag (combination immunotherapy), Camzyos (cardiac myosin inhibitor), and Sotyktu (oral immunology treatment). The company has also advanced its cell therapy portfolio with Breyanzi showing strong growth and expanded indications. To fund these growth investments while managing patent cliff pressures, the company initiated a comprehensive cost reduction program targeting $2 billion in annual savings by 2027, with $1 billion expected by 2025. This program focuses on organizational efficiency and operational excellence while preserving R&D investment levels. The company has also strengthened its pipeline with seven new Phase III studies for Cobenfy across multiple psychiatric conditions and advanced multiple late-stage programs in cardiovascular, oncology, and immunology.
BMY company profile · for informational purposes only — not investment advice.
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