BMY
Bristol-Myers Squibb Company
BMY's fundamentals are strong and it looks cheap: trading at 14x earnings, below its usual 18x. Analysts expect strong earnings growth.
BMY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Stable |
BMY's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
BMY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.7x | $62.32 | — |
| Cheap | 14x | $65.37 | +4.9% |
| Current | 14x | $62.32 | — |
| Fair | 18x | $83.24 | +34% |
| Expensive | 25x | $114 | +83% |
Historical ranges are pointers, not guarantees.
BMY's PE is in its cheap range at 14x. If earnings grow as analysts expect, today's price would be 9.7x next year's earnings.
BMY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect BMY's earnings to grow and its profitability to improve, with its revenue holding steady.
BMY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.45 | +43% |
| Q3 2026 | $4.52 | +52% |
| Q2 2026 | $4.55 | +83% |
| Q1 2026 | $3.57 | +33% |
| Q4 2025 | $3.46 | +$7.87 |
| Q3 2025 | $2.97 | +$6.56 |
| Q2 2025 | $2.49 | +$5.75 |
| Q1 2025 | $2.68 | +$5.78 |
| Q4 2024 | -$4.41 | -214% |
BMY earned $4.52 per share over the past year, up 52% from the year before.
BMY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.1B | +6.9% |
| Q2 2026 | $13B | +5.7% |
| Q1 2026 | $11.5B | +2.6% |
| Q4 2025 | $12.5B | +1.3% |
| Q3 2025 | $12.2B | +2.8% |
| Q2 2025 | $12.3B | +0.6% |
| Q1 2025 | $11.2B | -5.6% |
| Q4 2024 | $12.3B | +7.5% |
BMY's revenue has grown year over year for six quarters in a row: $13.1B last quarter, up 6.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -6.1 points |
| Q2 2026 | 32% | +17 points |
| Q1 2026 | 28% | +1.7 points |
| Q4 2025 | 12% | +10 points |
| Q3 2025 | 25% | +11 points |
| Q2 2025 | 14% | +3.9 points |
| Q1 2025 | 27% | +124 points |
| Q4 2024 | 1.4% | -13 points |
BMY's operating margin was 19% last quarter, down 6.1 points from the same quarter a year ago.
BMY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.8B | -36% |
| Q2 2026 | $3.1B | -13% |
| Q1 2026 | $757M | -55% |
| Q4 2025 | $1.6B | -61% |
| Q3 2025 | $6B | +14% |
| Q2 2025 | $3.6B | +72% |
| Q1 2025 | $1.7B | -34% |
| Q4 2024 | $4.1B | +3.5% |
BMY's free cash flow has been positive every quarter for seven years: $9.3B over the past year, down 39% from the year before.
BMY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +5M shares |
| 1 year | +0.7% | +14M shares |
| 3 years | -0.5% | -11M shares |
| 5 years | -8.5% | -190M shares |
| Available history | -9.1% | -205M shares |
BMY has 2.1B diluted shares, up 0.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $4B |
| Q2 2023 | $905M |
| Q1 2023 | $250M |
BMY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.4x | Moderate |
| Q2 2026 | 2.3x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 2.6x | Moderate |
| Q3 2025 | 2.6x | Moderate |
| Q2 2025 | 2.8x | Moderate |
| Q1 2025 | 2.7x | Moderate |
| Q4 2024 | 32.2x | High |
BMY's net debt is about 2.4 years of its operating earnings (EBITDA), down from 2.6 years a year ago.
BMY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.7 | Neutral |
| Stochastic | 49.4 | Neutral |
BMY's weekly RSI is 54 (neutral) and its Stochastic is 49 (neutral).
BMY PE vs Healthcare Sector
| Metric | BMY | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 26x | 47% below |
| PE % | 12 | 29 | 17 pts below |
BMY is trading at 14x earnings, a 47% discount to the Healthcare sector's median of 26x.
BMY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.4 | 1.5% above |
| 20 week MA | $62.5 | 0.4% below |
| 50 week MA | $59.4 | 4.9% above |
| 100 week MA | $54.9 | 13% above |
| 200 week MA | $55.4 | 13% above |
BMY's trend is mixed: it's above four of its five weekly moving averages, and 13% above its 200-week average.
BMY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.1 | $61.2 | -4.7% |
| 2021 | $61.2 | $62.1 | +1.5% |
| 2022 | $62.1 | $72.9 | +17% |
| 2023 | $72.9 | $51.3 | -30% |
| 2024 | $51.3 | $57.7 | +12% |
| 2025 | $57.7 | $54.6 | -5.3% |
| 2026 YTD | $54.6 | $62.3 | +14% |
BMY has finished lower in three of the last six years. It's up 14% so far in 2026.