BMY
Bristol-Myers Squibb Company
BMY has the edge over NVO overall, supported by stronger fundamentals and stronger valuation.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
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.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is 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 has the edge over NVO in the historical PE scenario, which offers more potential upside but is not a forecast.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
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.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
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.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over BMY on earnings, with more consistent year-over-year improvement.
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.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO has the edge over BMY on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO has the edge over BMY on profitability, with a higher operating margin.
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.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO has the edge over BMY on cash flow, with more consistent year-over-year improvement.
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 |
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has the edge over BMY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
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.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO has the edge over BMY on leverage, with a lower net debt burden relative to earnings.
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).
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (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.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO has the edge over BMY on valuation relative to its sector.
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 has the edge over NVO on trend strength, trading above more of its moving averages.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below 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 the edge over NVO on returns for 2026, with the stronger performance.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.