Bristol-Myers Squibb Company Ce (CELG-RI) 10-Year Financial Performance & Capital Metrics

CELG-RI •

HealthcareLarge PharmaLarge diversified branded pharma

AboutBristol Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers small molecules, products produced from biological processes called biologics, and chimeric antigen receptor (CAR-T) cell therapies. The company was founded in August 1933 and is headquartered in Princeton, NJ.Show more

Revenue $48.3B +7.3%
EBITDA $19.26B +7.3%
Net Income -$8.95B -211.5%
EPS (Diluted) -4.41 -214.2%
Gross Margin 56.79% -25.5%
EBITDA Margin 39.87%
Operating Margin 20% +9.8%
Net Margin -18.53% -203.9%
ROE -39.01% -247.3%
ROIC 12.41% +23.4%
Debt/Equity 3.12 +122.2%
Interest Coverage 4.96 -29.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 28.9% free cash flow margin
✓Momentum leader: RS Rating 97 (top 3%)
✓Strong 5Y sales CAGR of 13.1%
✓Share count reduced 2.5% through buybacks
✓Trading at only 0.0x book value

✗Weaknesses

✗High debt to equity ratio of 3.1x
✗Weak 3Y average ROE of 2.1%
✗Thin 5Y average net margin of 1.4%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.77%

5Y13.06%

3Y1.36%

TTM1.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM183.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM182.32%

ROCE

10Y Avg12.79%

5Y Avg9.43%

3Y Avg11.98%

Latest13.63%

Peer Comparison

Large diversified branded pharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LLYEli Lilly and Company	941.74B	1052.20	89.85	32%	30.99%	77.2%	0.04%	2.36
AZNAstraZeneca PLC	323.16B	208.45	63.75	8.63%	17.41%	20.99%	3.64%	0.61
JNJJohnson & Johnson	598.69B	248.43	42.91	4.3%	27.26%	31.69%	3.31%	0.51
CELG-RIBristol-Myers Squibb Company Ce		0.10	-0.02	7.32%	12.57%	32.47%		3.12
BMYBristol-Myers Squibb Company	127.01B	62.37	-14.14	7.32%	12.57%	32.47%	10.98%	3.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	16.56B	19.43B	20.78B	22.56B	26.14B	42.52B	46.38B	46.16B	45.01B	48.3B
Revenue Growth %	4.29%	17.31%	6.94%	8.59%	15.89%	62.62%	9.1%	-0.49%	-2.5%	7.32%
Cost of Goods Sold+	3.91B	4.95B	6.07B	6.55B	8.08B	11.77B	9.94B	10.14B	10.69B	20.87B
COGS % of Revenue	23.61%	25.46%	29.2%	29.02%	30.9%	27.69%	21.43%	21.96%	23.76%	43.2%
Gross Profit+	12.65B	14.48B	14.71B	16.01B	18.07B	30.75B	36.45B	36.02B	34.31B	27.43B
Gross Margin %	76.39%	74.54%	70.8%	70.98%	69.1%	72.31%	78.57%	78.04%	76.24%	56.79%
Gross Profit Growth %	5.89%	14.47%	1.58%	8.86%	12.82%	70.17%	18.54%	-1.16%	-4.74%	-20.05%
Operating Expenses+	10.92B	9.94B	11.26B	10.9B	12.15B	28.57B	27.91B	26.92B	26.12B	17.77B
OpEx % of Revenue	65.95%	51.18%	54.2%	48.3%	46.49%	67.19%	60.17%	58.32%	58.03%	36.8%
Selling, General & Admin	5B	5B	4.85B	4.55B	4.87B	7.66B	7.69B	7.81B	7.77B	7.87B
SG&A % of Revenue	30.2%	25.75%	23.34%	20.17%	18.63%	18.02%	16.58%	16.93%	17.27%	16.28%
Research & Development	5.92B	4.94B	6.41B	6.34B	6.15B	11.14B	10.2B	9.51B	9.3B	11.16B
R&D % of Revenue	35.75%	25.43%	30.86%	28.12%	23.52%	26.21%	21.98%	20.6%	20.66%	23.1%
Other Operating Expenses	0	0	0	0	1.14B	9.76B	10.02B	9.6B	9.05B	-1.25B
Operating Income+	1.73B	4.54B	3.45B	5.12B	5.91B	2.18B	8.54B	9.1B	8.2B	9.66B
Operating Margin %	10.45%	23.36%	16.61%	22.69%	22.62%	5.12%	18.4%	19.72%	18.21%	20%
Operating Income Growth %	0.93%	162.37%	-23.99%	48.35%	15.53%	-63.18%	292.15%	6.64%	-9.98%	17.85%
EBITDA+	2.11B	5.17B	4.32B	5.82B	7.66B	12.56B	19.22B	19.38B	17.95B	19.26B
EBITDA Margin %	12.72%	26.59%	20.8%	25.8%	29.29%	29.53%	41.44%	41.99%	39.89%	39.87%
EBITDA Growth %	-3.44%	145.25%	-16.32%	34.68%	31.58%	63.95%	53.09%	0.82%	-7.35%	7.26%
D&A (Non-Cash Add-back)	376M	626M	872M	703M	1.75B	10.38B	10.69B	10.28B	9.76B	9.6B
EBIT	2.26B	6.08B	5.33B	6.15B	5.63B	-5.45B	9.43B	8.95B	9.61B	-6.43B
Net Interest Income+	-184M	-167M	-196M	-183M	-656M	-1.42B	-1.33B	-1.23B	-1.17B	-1.95B
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	184M	167M	196M	183M	656M	1.42B	1.33B	1.23B	1.17B	1.95B
Other Income/Expense	347M	1.45B	-108M	-426M	-938M	-9.05B	-439M	-1.39B	245M	-18.04B
Pretax Income+	2.17B	5.92B	5.13B	6.01B	4.97B	-6.87B	8.1B	7.71B	8.44B	-8.38B
Pretax Margin %	13.09%	30.45%	24.7%	26.64%	19.03%	-16.16%	17.46%	16.71%	18.75%	-17.35%
Income Tax+	477M	1.41B	4.16B	1.03B	1.51B	2.12B	1.08B	1.37B	400M	554M
Effective Tax Rate %	74.94%	75.35%	19.63%	82.4%	69.13%	131.2%	86.37%	82.03%	95.08%	106.79%
Net Income+	1.62B	4.46B	1.01B	4.95B	3.44B	-9.02B	6.99B	6.33B	8.03B	-8.95B
Net Margin %	9.81%	22.94%	4.85%	21.95%	13.15%	-21.2%	15.08%	13.71%	17.83%	-18.53%
Net Income Growth %	-18.96%	174.45%	-77.41%	391.76%	-30.55%	-362.14%	177.58%	-9.54%	26.84%	-211.5%
Net Income (Continuing)	1.63B	4.51B	975M	4.95B	3.46B	-8.99B	7.01B	6.34B	8.04B	-8.93B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	158M	170M	106M	96M	100M	60M	60M	57M	55M	53M
EPS (Diluted)+	0.97	2.65	0.61	3.03	2.01	-3.98	3.12	2.95	3.86	-4.41
EPS Growth %	-19.17%	173.2%	-76.98%	396.72%	-33.66%	-298.01%	178.39%	-5.45%	30.85%	-214.25%
EPS (Basic)	0.97	2.67	0.61	3.03	2.02	-3.98	3.15	2.97	3.88	-4.41
Diluted Shares Outstanding	1.68B	1.68B	1.65B	1.64B	1.71B	2.26B	2.25B	2.15B	2.08B	2.03B
Basic Shares Outstanding	1.67B	1.67B	1.65B	1.63B	1.71B	2.26B	2.22B	2.13B	2.07B	2.03B
Dividend Payout Ratio	152.52%	57.15%	255.91%	52.77%	77.9%	-	62.85%	73.24%	59.12%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.41B	13.7B	14.85B	8.88B	29.35B	30.19B	33.26B	27.27B	31.77B	29.78B
Cash & Short-Term Investments	2.38B	4.24B	6.81B	8.88B	12.35B	16.54B	17.22B	9.25B	12.28B	10.86B
Cash Only	2.38B	4.24B	5.42B	6.91B	12.35B	14.63B	13.98B	9.12B	11.46B	10.35B
Short-Term Investments	0	0	1.39B	1.97B	0	1.9B	3.24B	130M	816M	513M
Accounts Receivable	4.3B	5.54B	6.3B	5.75B	7.68B	10.3B	12.52B	13.94B	15.26B	11.13B
Days Sales Outstanding	94.75	104.14	110.68	92.98	107.29	88.42	98.49	110.21	123.79	84.12
Inventory	1.22B	1.24B	1.17B	1.2B	4.29B	2.07B	2.1B	2.34B	2.66B	2.56B
Days Inventory Outstanding	114.01	91.58	70.16	66.62	193.98	64.3	76.93	84.22	90.87	44.72
Other Current Assets	0	0	0	1.12B	5.03B	1.28B	1.43B	1.74B	1.56B	1.94B
Total Non-Current Assets+	21.33B	20B	18.7B	1.77B	100.59B	88.29B	76.05B	69.55B	63.39B	62.82B
Property, Plant & Equipment	4.41B	4.98B	5B	5.03B	6.25B	6.75B	6.97B	7.47B	8.04B	8.36B
Fixed Asset Turnover	3.75x	3.90x	4.15x	4.49x	4.18x	6.30x	6.66x	6.18x	5.60x	5.78x
Goodwill	6.88B	6.88B	6.86B	6.54B	22.49B	20.55B	20.5B	21.15B	21.17B	21.72B
Intangible Assets	1.42B	1.39B	1.21B	1.09B	63.97B	53.24B	42.77B	36.35B	27.07B	23.31B
Long-Term Investments	4.66B	2.72B	2.48B	1.77B	767M	4.85B	2.71B	2.19B	2.5B	2.51B
Other Non-Current Assets	1.12B	1.05B	1.53B	-14.03B	6.6B	1.75B	1.66B	1.04B	1.84B	2.69B
Total Assets+	31.75B	33.71B	33.55B	10.66B	129.94B	118.48B	109.31B	96.82B	95.16B	92.6B
Asset Turnover	0.52x	0.58x	0.62x	2.12x	0.20x	0.36x	0.42x	0.48x	0.47x	0.52x
Asset Growth %	-5.93%	6.17%	-0.46%	-68.23%	1119.1%	-8.82%	-7.74%	-11.43%	-1.72%	-2.69%
Total Current Liabilities+	8.02B	8.84B	9.56B	1.7B	18.3B	19.08B	21.87B	21.89B	22.26B	23.77B
Accounts Payable	1.56B	1.66B	2.25B	1.89B	2.44B	2.71B	2.95B	3.04B	3.26B	3.6B
Days Payables Outstanding	146.13	122.8	135.27	105.48	110.48	84.11	108.29	109.46	111.24	63
Short-Term Debt	139M	992M	987M	1.7B	3.35B	2.5B	4.95B	4.26B	3.12B	2.05B
Deferred Revenue (Current)	1B	762M	83M	172M	4.49B	0	3.69B	1.34B	4.22B	0
Other Current Liabilities	3.79B	4.41B	5.11B	5.61B	-79M	11.8B	174M	2.87B	456M	15.17B
Current Ratio	1.30x	1.55x	1.55x	5.22x	1.60x	1.58x	1.52x	1.25x	1.43x	1.25x
Quick Ratio	1.15x	1.41x	1.43x	4.51x	1.37x	1.47x	1.43x	1.14x	1.31x	1.15x
Cash Conversion Cycle	62.63	72.93	45.58	54.12	190.79	68.61	67.13	84.97	103.41	65.85
Total Non-Current Liabilities+	9.31B	8.52B	12.14B	5.65B	59.94B	61.52B	51.44B	43.81B	43.41B	52.44B
Long-Term Debt	6.55B	5.72B	6.97B	5.65B	43.39B	48.34B	39.6B	35.06B	36.65B	47.6B
Capital Lease Obligations	0	0	0	0	672M	833M	874M	1.26B	1.53B	1.37B
Deferred Tax Liabilities	1.69B	0	0	-4.56B	6.45B	5.41B	4.5B	2.17B	338M	369M
Other Non-Current Liabilities	2.17B	2.26B	4.71B	4.09B	9.01B	6.59B	6.13B	5.05B	4.59B	2.87B
Total Liabilities	17.32B	17.36B	21.7B	7.35B	78.25B	80.6B	73.31B	65.7B	65.67B	76.22B
Total Debt+	6.69B	6.71B	7.96B	7.35B	47.54B	51.67B	45.6B	40.72B	41.46B	51.2B
Net Debt	4.3B	2.47B	2.54B	438M	35.19B	37.04B	31.62B	31.59B	30B	40.85B
Debt / Equity	0.46x	0.41x	0.67x	0.52x	0.92x	1.36x	1.27x	1.31x	1.41x	3.12x
Debt / EBITDA	3.18x	1.30x	1.84x	1.26x	6.21x	4.12x	2.37x	2.10x	2.31x	2.66x
Net Debt / EBITDA	2.04x	0.48x	0.59x	0.08x	4.59x	2.95x	1.64x	1.63x	1.67x	2.12x
Interest Coverage	9.40x	27.18x	17.60x	27.97x	9.01x	1.53x	6.40x	7.39x	7.03x	4.96x
Total Equity+	14.42B	16.35B	11.85B	14.13B	51.7B	37.88B	36.01B	31.12B	29.48B	16.39B
Equity Growth %	-3.73%	13.33%	-27.53%	19.25%	265.95%	-26.72%	-4.95%	-13.58%	-5.25%	-44.42%
Book Value per Share	8.59	9.73	7.17	8.63	30.20	16.78	16.04	14.50	14.19	8.08
Total Shareholders' Equity	14.27B	16.18B	11.74B	14.03B	51.6B	37.82B	35.95B	31.06B	29.43B	16.34B
Common Stock	221M	221M	221M	221M	292M	292M	292M	292M	292M	292M
Retained Earnings	31.61B	33.51B	31.16B	34.06B	34.47B	21.28B	23.82B	25.5B	28.77B	14.91B
Treasury Stock	-16.56B	-16.78B	-19.25B	-19.57B	-25.36B	-26.24B	-31.26B	-38.62B	-43.77B	-43.66B
Accumulated OCI	-2.47B	-2.5B	-2.29B	-2.76B	-1.52B	-1.84B	-1.27B	-1.28B	-1.55B	-1.24B
Minority Interest	158M	170M	106M	96M	100M	60M	60M	57M	55M	53M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.83B	2.85B	5.28B	5.94B	8.07B	14.05B	16.21B	13.07B	13.86B	15.19B
Operating CF Margin %	11.06%	14.67%	25.39%	26.33%	30.85%	33.05%	34.94%	28.31%	30.8%	31.45%
Operating CF Growth %	-41.8%	55.57%	85.09%	12.61%	35.81%	74.19%	15.34%	-19.38%	6.08%	9.6%
Net Income	1.63B	4.51B	975M	4.95B	3.46B	-8.99B	7.01B	6.34B	8.04B	-8.93B
Depreciation & Amortization	376M	382M	789M	637M	1.75B	10.38B	10.69B	10.28B	9.76B	9.6B
Stock-Based Compensation	235M	205M	199M	221M	441M	779M	583M	457M	518M	507M
Deferred Taxes	-347M	-204M	1.01B	86M	-924M	983M	-1.39B	-2.74B	-3.29B	-2.09B
Other Non-Cash Items	965M	-680M	714M	-127M	279M	9.92B	570M	955M	744M	15.29B
Working Capital Changes	-1.03B	-1.36B	1.59B	176M	3.06B	983M	-1.25B	-2.23B	-1.91B	810M
Change in Receivables	-942M	-803M	-431M	-267M	1.66B	-2.95B	-2.12B	-663M	-995M	264M
Change in Inventory	97M	-152M	-29M	-216M	463M	2.67B	13M	-69M	-751M	-486M
Change in Payables	-919M	104M	320M	-59M	229M	188M	245M	109M	198M	184M
Cash from Investing+	-1.57B	1.48B	-66M	-874M	-9.77B	-10.86B	-538M	-1.06B	-2.29B	-21.35B
Capital Expenditures	-820M	-1.22B	-1.05B	-951M	-836M	-753M	-973M	-1.12B	-1.21B	-1.25B
CapEx % of Revenue	4.95%	6.25%	5.08%	4.22%	3.2%	1.77%	2.1%	2.42%	2.69%	2.58%
Acquisitions	-403M	975M	14M	3M	-8.78B	-12.21B	-862M	-2.98B	-260M	-21.82B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	359M	3.05B	1.72B	1.32B	0	0	0	0	0	1.1B
Cash from Financing+	-3.35B	-2.44B	-4.08B	-3.54B	7.62B	-1.15B	-16.22B	-16.96B	-9.42B	5.13B
Debt Issued (Net)	-689M	110M	991M	-548M	17.65B	3.93B	-6.18B	-5.31B	456M	10.1B
Equity Issued (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-2.48B	-2.55B	-2.58B	-2.61B	-2.68B	-4.08B	-4.4B	-4.63B	-4.74B	-4.86B
Share Repurchases	819M	-231M	-2.47B	-320M	-7.3B	-1.55B	-6.29B	-8B	-5.16B	0
Other Financing	-451M	42M	-22M	-54M	-53M	542M	641M	984M	27M	-106M
Net Change in Cash	-3.19B	1.85B	1.18B	1.49B	5.91B	2.15B	-657M	-4.99B	2.19B	-1.17B
Free Cash Flow+	1.01B	1.64B	4.22B	4.99B	7.23B	13.3B	15.23B	11.95B	12.65B	13.94B
FCF Margin %	6.11%	8.42%	20.31%	22.11%	27.66%	31.28%	32.84%	25.88%	28.11%	28.87%
FCF Growth %	-61.4%	61.56%	158.1%	18.22%	44.94%	83.92%	14.55%	-21.57%	5.88%	10.2%
FCF per Share	0.60	0.97	2.55	3.05	4.22	5.89	6.79	5.57	6.09	6.88
FCF Conversion (FCF/Net Income)	1.13x	0.64x	5.24x	1.20x	2.35x	-1.56x	2.32x	2.07x	1.73x	-1.70x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.04%	28.97%	7.14%	38.13%	10.45%	-20.13%	18.93%	18.85%	26.48%	-39.01%
Return on Invested Capital (ROIC)	7.21%	18.13%	15.58%	26.52%	8.74%	2.02%	8.98%	10.48%	10.06%	12.41%
Gross Margin	76.39%	74.54%	70.8%	70.98%	69.1%	72.31%	78.57%	78.04%	76.24%	56.79%
Net Margin	9.81%	22.94%	4.85%	21.95%	13.15%	-21.2%	15.08%	13.71%	17.83%	-18.53%
Debt / Equity	0.46x	0.41x	0.67x	0.52x	0.92x	1.36x	1.27x	1.31x	1.41x	3.12x
Interest Coverage	9.40x	27.18x	17.60x	27.97x	9.01x	1.53x	6.40x	7.39x	7.03x	4.96x
FCF Conversion	1.13x	0.64x	5.24x	1.20x	2.35x	-1.56x	2.32x	2.07x	1.73x	-1.70x
Revenue Growth	4.29%	17.31%	6.94%	8.59%	15.89%	62.62%	9.1%	-0.49%	-2.5%	7.32%

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Bristol-Myers Squibb Company Ce (CELG-RI) 10-Year Financial Performance & Capital Metrics

CELG-RI •

HealthcareLarge PharmaLarge diversified branded pharma

Revenue $48.3B +7.3%
EBITDA $19.26B +7.3%
Net Income -$8.95B -211.5%
EPS (Diluted) -4.41 -214.2%
Gross Margin 56.79% -25.5%
EBITDA Margin 39.87%
Operating Margin 20% +9.8%
Net Margin -18.53% -203.9%
ROE -39.01% -247.3%
ROIC 12.41% +23.4%
Debt/Equity 3.12 +122.2%
Interest Coverage 4.96 -29.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 28.9% free cash flow margin
✓Momentum leader: RS Rating 97 (top 3%)
✓Strong 5Y sales CAGR of 13.1%
✓Share count reduced 2.5% through buybacks
✓Trading at only 0.0x book value

✗Weaknesses

✗High debt to equity ratio of 3.1x
✗Weak 3Y average ROE of 2.1%
✗Thin 5Y average net margin of 1.4%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.77%

5Y13.06%

3Y1.36%

TTM1.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM183.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM182.32%

ROCE

10Y Avg12.79%

5Y Avg9.43%

3Y Avg11.98%

Latest13.63%

Peer Comparison

Large diversified branded pharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LLYEli Lilly and Company	941.74B	1052.20	89.85	32%	30.99%	77.2%	0.04%	2.36
AZNAstraZeneca PLC	323.16B	208.45	63.75	8.63%	17.41%	20.99%	3.64%	0.61
JNJJohnson & Johnson	598.69B	248.43	42.91	4.3%	27.26%	31.69%	3.31%	0.51
CELG-RIBristol-Myers Squibb Company Ce		0.10	-0.02	7.32%	12.57%	32.47%		3.12
BMYBristol-Myers Squibb Company	127.01B	62.37	-14.14	7.32%	12.57%	32.47%	10.98%	3.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	16.56B	19.43B	20.78B	22.56B	26.14B	42.52B	46.38B	46.16B	45.01B	48.3B
Revenue Growth %	4.29%	17.31%	6.94%	8.59%	15.89%	62.62%	9.1%	-0.49%	-2.5%	7.32%
Cost of Goods Sold+	3.91B	4.95B	6.07B	6.55B	8.08B	11.77B	9.94B	10.14B	10.69B	20.87B
COGS % of Revenue	23.61%	25.46%	29.2%	29.02%	30.9%	27.69%	21.43%	21.96%	23.76%	43.2%
Gross Profit+	12.65B	14.48B	14.71B	16.01B	18.07B	30.75B	36.45B	36.02B	34.31B	27.43B
Gross Margin %	76.39%	74.54%	70.8%	70.98%	69.1%	72.31%	78.57%	78.04%	76.24%	56.79%
Gross Profit Growth %	5.89%	14.47%	1.58%	8.86%	12.82%	70.17%	18.54%	-1.16%	-4.74%	-20.05%
Operating Expenses+	10.92B	9.94B	11.26B	10.9B	12.15B	28.57B	27.91B	26.92B	26.12B	17.77B
OpEx % of Revenue	65.95%	51.18%	54.2%	48.3%	46.49%	67.19%	60.17%	58.32%	58.03%	36.8%
Selling, General & Admin	5B	5B	4.85B	4.55B	4.87B	7.66B	7.69B	7.81B	7.77B	7.87B
SG&A % of Revenue	30.2%	25.75%	23.34%	20.17%	18.63%	18.02%	16.58%	16.93%	17.27%	16.28%
Research & Development	5.92B	4.94B	6.41B	6.34B	6.15B	11.14B	10.2B	9.51B	9.3B	11.16B
R&D % of Revenue	35.75%	25.43%	30.86%	28.12%	23.52%	26.21%	21.98%	20.6%	20.66%	23.1%
Other Operating Expenses	0	0	0	0	1.14B	9.76B	10.02B	9.6B	9.05B	-1.25B
Operating Income+	1.73B	4.54B	3.45B	5.12B	5.91B	2.18B	8.54B	9.1B	8.2B	9.66B
Operating Margin %	10.45%	23.36%	16.61%	22.69%	22.62%	5.12%	18.4%	19.72%	18.21%	20%
Operating Income Growth %	0.93%	162.37%	-23.99%	48.35%	15.53%	-63.18%	292.15%	6.64%	-9.98%	17.85%
EBITDA+	2.11B	5.17B	4.32B	5.82B	7.66B	12.56B	19.22B	19.38B	17.95B	19.26B
EBITDA Margin %	12.72%	26.59%	20.8%	25.8%	29.29%	29.53%	41.44%	41.99%	39.89%	39.87%
EBITDA Growth %	-3.44%	145.25%	-16.32%	34.68%	31.58%	63.95%	53.09%	0.82%	-7.35%	7.26%
D&A (Non-Cash Add-back)	376M	626M	872M	703M	1.75B	10.38B	10.69B	10.28B	9.76B	9.6B
EBIT	2.26B	6.08B	5.33B	6.15B	5.63B	-5.45B	9.43B	8.95B	9.61B	-6.43B
Net Interest Income+	-184M	-167M	-196M	-183M	-656M	-1.42B	-1.33B	-1.23B	-1.17B	-1.95B
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	184M	167M	196M	183M	656M	1.42B	1.33B	1.23B	1.17B	1.95B
Other Income/Expense	347M	1.45B	-108M	-426M	-938M	-9.05B	-439M	-1.39B	245M	-18.04B
Pretax Income+	2.17B	5.92B	5.13B	6.01B	4.97B	-6.87B	8.1B	7.71B	8.44B	-8.38B
Pretax Margin %	13.09%	30.45%	24.7%	26.64%	19.03%	-16.16%	17.46%	16.71%	18.75%	-17.35%
Income Tax+	477M	1.41B	4.16B	1.03B	1.51B	2.12B	1.08B	1.37B	400M	554M
Effective Tax Rate %	74.94%	75.35%	19.63%	82.4%	69.13%	131.2%	86.37%	82.03%	95.08%	106.79%
Net Income+	1.62B	4.46B	1.01B	4.95B	3.44B	-9.02B	6.99B	6.33B	8.03B	-8.95B
Net Margin %	9.81%	22.94%	4.85%	21.95%	13.15%	-21.2%	15.08%	13.71%	17.83%	-18.53%
Net Income Growth %	-18.96%	174.45%	-77.41%	391.76%	-30.55%	-362.14%	177.58%	-9.54%	26.84%	-211.5%
Net Income (Continuing)	1.63B	4.51B	975M	4.95B	3.46B	-8.99B	7.01B	6.34B	8.04B	-8.93B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	158M	170M	106M	96M	100M	60M	60M	57M	55M	53M
EPS (Diluted)+	0.97	2.65	0.61	3.03	2.01	-3.98	3.12	2.95	3.86	-4.41
EPS Growth %	-19.17%	173.2%	-76.98%	396.72%	-33.66%	-298.01%	178.39%	-5.45%	30.85%	-214.25%
EPS (Basic)	0.97	2.67	0.61	3.03	2.02	-3.98	3.15	2.97	3.88	-4.41
Diluted Shares Outstanding	1.68B	1.68B	1.65B	1.64B	1.71B	2.26B	2.25B	2.15B	2.08B	2.03B
Basic Shares Outstanding	1.67B	1.67B	1.65B	1.63B	1.71B	2.26B	2.22B	2.13B	2.07B	2.03B
Dividend Payout Ratio	152.52%	57.15%	255.91%	52.77%	77.9%	-	62.85%	73.24%	59.12%	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.41B	13.7B	14.85B	8.88B	29.35B	30.19B	33.26B	27.27B	31.77B	29.78B
Cash & Short-Term Investments	2.38B	4.24B	6.81B	8.88B	12.35B	16.54B	17.22B	9.25B	12.28B	10.86B
Cash Only	2.38B	4.24B	5.42B	6.91B	12.35B	14.63B	13.98B	9.12B	11.46B	10.35B
Short-Term Investments	0	0	1.39B	1.97B	0	1.9B	3.24B	130M	816M	513M
Accounts Receivable	4.3B	5.54B	6.3B	5.75B	7.68B	10.3B	12.52B	13.94B	15.26B	11.13B
Days Sales Outstanding	94.75	104.14	110.68	92.98	107.29	88.42	98.49	110.21	123.79	84.12
Inventory	1.22B	1.24B	1.17B	1.2B	4.29B	2.07B	2.1B	2.34B	2.66B	2.56B
Days Inventory Outstanding	114.01	91.58	70.16	66.62	193.98	64.3	76.93	84.22	90.87	44.72
Other Current Assets	0	0	0	1.12B	5.03B	1.28B	1.43B	1.74B	1.56B	1.94B
Total Non-Current Assets+	21.33B	20B	18.7B	1.77B	100.59B	88.29B	76.05B	69.55B	63.39B	62.82B
Property, Plant & Equipment	4.41B	4.98B	5B	5.03B	6.25B	6.75B	6.97B	7.47B	8.04B	8.36B
Fixed Asset Turnover	3.75x	3.90x	4.15x	4.49x	4.18x	6.30x	6.66x	6.18x	5.60x	5.78x
Goodwill	6.88B	6.88B	6.86B	6.54B	22.49B	20.55B	20.5B	21.15B	21.17B	21.72B
Intangible Assets	1.42B	1.39B	1.21B	1.09B	63.97B	53.24B	42.77B	36.35B	27.07B	23.31B
Long-Term Investments	4.66B	2.72B	2.48B	1.77B	767M	4.85B	2.71B	2.19B	2.5B	2.51B
Other Non-Current Assets	1.12B	1.05B	1.53B	-14.03B	6.6B	1.75B	1.66B	1.04B	1.84B	2.69B
Total Assets+	31.75B	33.71B	33.55B	10.66B	129.94B	118.48B	109.31B	96.82B	95.16B	92.6B
Asset Turnover	0.52x	0.58x	0.62x	2.12x	0.20x	0.36x	0.42x	0.48x	0.47x	0.52x
Asset Growth %	-5.93%	6.17%	-0.46%	-68.23%	1119.1%	-8.82%	-7.74%	-11.43%	-1.72%	-2.69%
Total Current Liabilities+	8.02B	8.84B	9.56B	1.7B	18.3B	19.08B	21.87B	21.89B	22.26B	23.77B
Accounts Payable	1.56B	1.66B	2.25B	1.89B	2.44B	2.71B	2.95B	3.04B	3.26B	3.6B
Days Payables Outstanding	146.13	122.8	135.27	105.48	110.48	84.11	108.29	109.46	111.24	63
Short-Term Debt	139M	992M	987M	1.7B	3.35B	2.5B	4.95B	4.26B	3.12B	2.05B
Deferred Revenue (Current)	1B	762M	83M	172M	4.49B	0	3.69B	1.34B	4.22B	0
Other Current Liabilities	3.79B	4.41B	5.11B	5.61B	-79M	11.8B	174M	2.87B	456M	15.17B
Current Ratio	1.30x	1.55x	1.55x	5.22x	1.60x	1.58x	1.52x	1.25x	1.43x	1.25x
Quick Ratio	1.15x	1.41x	1.43x	4.51x	1.37x	1.47x	1.43x	1.14x	1.31x	1.15x
Cash Conversion Cycle	62.63	72.93	45.58	54.12	190.79	68.61	67.13	84.97	103.41	65.85
Total Non-Current Liabilities+	9.31B	8.52B	12.14B	5.65B	59.94B	61.52B	51.44B	43.81B	43.41B	52.44B
Long-Term Debt	6.55B	5.72B	6.97B	5.65B	43.39B	48.34B	39.6B	35.06B	36.65B	47.6B
Capital Lease Obligations	0	0	0	0	672M	833M	874M	1.26B	1.53B	1.37B
Deferred Tax Liabilities	1.69B	0	0	-4.56B	6.45B	5.41B	4.5B	2.17B	338M	369M
Other Non-Current Liabilities	2.17B	2.26B	4.71B	4.09B	9.01B	6.59B	6.13B	5.05B	4.59B	2.87B
Total Liabilities	17.32B	17.36B	21.7B	7.35B	78.25B	80.6B	73.31B	65.7B	65.67B	76.22B
Total Debt+	6.69B	6.71B	7.96B	7.35B	47.54B	51.67B	45.6B	40.72B	41.46B	51.2B
Net Debt	4.3B	2.47B	2.54B	438M	35.19B	37.04B	31.62B	31.59B	30B	40.85B
Debt / Equity	0.46x	0.41x	0.67x	0.52x	0.92x	1.36x	1.27x	1.31x	1.41x	3.12x
Debt / EBITDA	3.18x	1.30x	1.84x	1.26x	6.21x	4.12x	2.37x	2.10x	2.31x	2.66x
Net Debt / EBITDA	2.04x	0.48x	0.59x	0.08x	4.59x	2.95x	1.64x	1.63x	1.67x	2.12x
Interest Coverage	9.40x	27.18x	17.60x	27.97x	9.01x	1.53x	6.40x	7.39x	7.03x	4.96x
Total Equity+	14.42B	16.35B	11.85B	14.13B	51.7B	37.88B	36.01B	31.12B	29.48B	16.39B
Equity Growth %	-3.73%	13.33%	-27.53%	19.25%	265.95%	-26.72%	-4.95%	-13.58%	-5.25%	-44.42%
Book Value per Share	8.59	9.73	7.17	8.63	30.20	16.78	16.04	14.50	14.19	8.08
Total Shareholders' Equity	14.27B	16.18B	11.74B	14.03B	51.6B	37.82B	35.95B	31.06B	29.43B	16.34B
Common Stock	221M	221M	221M	221M	292M	292M	292M	292M	292M	292M
Retained Earnings	31.61B	33.51B	31.16B	34.06B	34.47B	21.28B	23.82B	25.5B	28.77B	14.91B
Treasury Stock	-16.56B	-16.78B	-19.25B	-19.57B	-25.36B	-26.24B	-31.26B	-38.62B	-43.77B	-43.66B
Accumulated OCI	-2.47B	-2.5B	-2.29B	-2.76B	-1.52B	-1.84B	-1.27B	-1.28B	-1.55B	-1.24B
Minority Interest	158M	170M	106M	96M	100M	60M	60M	57M	55M	53M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.83B	2.85B	5.28B	5.94B	8.07B	14.05B	16.21B	13.07B	13.86B	15.19B
Operating CF Margin %	11.06%	14.67%	25.39%	26.33%	30.85%	33.05%	34.94%	28.31%	30.8%	31.45%
Operating CF Growth %	-41.8%	55.57%	85.09%	12.61%	35.81%	74.19%	15.34%	-19.38%	6.08%	9.6%
Net Income	1.63B	4.51B	975M	4.95B	3.46B	-8.99B	7.01B	6.34B	8.04B	-8.93B
Depreciation & Amortization	376M	382M	789M	637M	1.75B	10.38B	10.69B	10.28B	9.76B	9.6B
Stock-Based Compensation	235M	205M	199M	221M	441M	779M	583M	457M	518M	507M
Deferred Taxes	-347M	-204M	1.01B	86M	-924M	983M	-1.39B	-2.74B	-3.29B	-2.09B
Other Non-Cash Items	965M	-680M	714M	-127M	279M	9.92B	570M	955M	744M	15.29B
Working Capital Changes	-1.03B	-1.36B	1.59B	176M	3.06B	983M	-1.25B	-2.23B	-1.91B	810M
Change in Receivables	-942M	-803M	-431M	-267M	1.66B	-2.95B	-2.12B	-663M	-995M	264M
Change in Inventory	97M	-152M	-29M	-216M	463M	2.67B	13M	-69M	-751M	-486M
Change in Payables	-919M	104M	320M	-59M	229M	188M	245M	109M	198M	184M
Cash from Investing+	-1.57B	1.48B	-66M	-874M	-9.77B	-10.86B	-538M	-1.06B	-2.29B	-21.35B
Capital Expenditures	-820M	-1.22B	-1.05B	-951M	-836M	-753M	-973M	-1.12B	-1.21B	-1.25B
CapEx % of Revenue	4.95%	6.25%	5.08%	4.22%	3.2%	1.77%	2.1%	2.42%	2.69%	2.58%
Acquisitions	-403M	975M	14M	3M	-8.78B	-12.21B	-862M	-2.98B	-260M	-21.82B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	359M	3.05B	1.72B	1.32B	0	0	0	0	0	1.1B
Cash from Financing+	-3.35B	-2.44B	-4.08B	-3.54B	7.62B	-1.15B	-16.22B	-16.96B	-9.42B	5.13B
Debt Issued (Net)	-689M	110M	991M	-548M	17.65B	3.93B	-6.18B	-5.31B	456M	10.1B
Equity Issued (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-2.48B	-2.55B	-2.58B	-2.61B	-2.68B	-4.08B	-4.4B	-4.63B	-4.74B	-4.86B
Share Repurchases	819M	-231M	-2.47B	-320M	-7.3B	-1.55B	-6.29B	-8B	-5.16B	0
Other Financing	-451M	42M	-22M	-54M	-53M	542M	641M	984M	27M	-106M
Net Change in Cash	-3.19B	1.85B	1.18B	1.49B	5.91B	2.15B	-657M	-4.99B	2.19B	-1.17B
Free Cash Flow+	1.01B	1.64B	4.22B	4.99B	7.23B	13.3B	15.23B	11.95B	12.65B	13.94B
FCF Margin %	6.11%	8.42%	20.31%	22.11%	27.66%	31.28%	32.84%	25.88%	28.11%	28.87%
FCF Growth %	-61.4%	61.56%	158.1%	18.22%	44.94%	83.92%	14.55%	-21.57%	5.88%	10.2%
FCF per Share	0.60	0.97	2.55	3.05	4.22	5.89	6.79	5.57	6.09	6.88
FCF Conversion (FCF/Net Income)	1.13x	0.64x	5.24x	1.20x	2.35x	-1.56x	2.32x	2.07x	1.73x	-1.70x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.04%	28.97%	7.14%	38.13%	10.45%	-20.13%	18.93%	18.85%	26.48%	-39.01%
Return on Invested Capital (ROIC)	7.21%	18.13%	15.58%	26.52%	8.74%	2.02%	8.98%	10.48%	10.06%	12.41%
Gross Margin	76.39%	74.54%	70.8%	70.98%	69.1%	72.31%	78.57%	78.04%	76.24%	56.79%
Net Margin	9.81%	22.94%	4.85%	21.95%	13.15%	-21.2%	15.08%	13.71%	17.83%	-18.53%
Debt / Equity	0.46x	0.41x	0.67x	0.52x	0.92x	1.36x	1.27x	1.31x	1.41x	3.12x
Interest Coverage	9.40x	27.18x	17.60x	27.97x	9.01x	1.53x	6.40x	7.39x	7.03x	4.96x
FCF Conversion	1.13x	0.64x	5.24x	1.20x	2.35x	-1.56x	2.32x	2.07x	1.73x	-1.70x
Revenue Growth	4.29%	17.31%	6.94%	8.59%	15.89%	62.62%	9.1%	-0.49%	-2.5%	7.32%

Bristol-Myers Squibb Company Ce (CELG-RI) 10-Year Financial Performance & Capital Metrics

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Revenue CAGR

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Peer Comparison

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Bristol-Myers Squibb Company Ce (CELG-RI) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CELG-RI vs Peers

vs LLY

vs JNJ

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