Bristol-Myers Squibb Company (BMY) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Drug Manufacturers - General
EV/EBITDA
↑
9.20
+8% vs avg
5yr avg: 8.49
30Y Low6.8·High28.0
P/FCF
↓
8.99
-5% vs avg
5yr avg: 9.47
30Y Low8.2·High89.9
P/B Ratio
↑
6.24
↑+23% vs avg
5yr avg: 5.08
30Y Low2.1·High17.1
ROE
↑
40.4%
↓+208% vs avg
5yr avg: 13.1%
30Y Low-39%·High79%
Debt/EBITDA
↑
2.85
+17% vs avg
5yr avg: 2.42
30Y Low0.2·High5.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BMY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Bristol-Myers Squibb Company trades at 16.4x earnings, 11% below its 5-year average of 18.3x, sitting at the 25th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.2x, the stock trades at a discount of 26%. On a free-cash-flow basis, the stock trades at 9.0x P/FCF, 5% below the 5-year average of 9.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $115.4B | $110.1B | $114.6B | $106.6B | $154.4B | $140.0B | $140.1B | $109.9B | $85.1B | $101.2B | $98.2B |
| Enterprise Value | $152.4B | $147.0B | $155.5B | $136.6B | $186.0B | $171.6B | $177.2B | $145.1B | $85.5B | $103.8B | $100.7B |
| P/E Ratio → | 16.39 | 15.63 | — | 13.29 | 24.39 | 19.98 | — | 31.94 | 17.16 | 100.46 | 22.05 |
| P/S Ratio | 2.40 | 2.28 | 2.37 | 2.37 | 3.35 | 3.02 | 3.29 | 4.20 | 3.77 | 4.87 | 5.05 |
| P/B Ratio | 6.24 | 5.95 | 7.00 | 3.62 | 4.96 | 3.89 | 3.70 | 2.13 | 6.02 | 8.55 | 6.01 |
| P/FCF | 8.99 | 8.57 | 8.22 | 8.43 | 12.92 | 9.19 | 10.53 | 14.90 | 13.92 | 23.99 | 53.27 |
| P/OCF | 8.15 | 7.78 | 7.55 | 7.69 | 11.82 | 8.64 | 9.97 | 13.39 | 12.04 | 19.19 | 32.11 |
P/E links to full P/E history page with 30-year chart
BMY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Bristol-Myers Squibb Company's enterprise value stands at 9.2x EBITDA, 8% above its 5-year average of 8.5x. The Healthcare sector median is 14.1x, placing the stock at a 35% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.05 | 3.22 | 3.04 | 4.03 | 3.70 | 4.17 | 5.55 | 3.79 | 4.99 | 5.18 |
| EV / EBITDA | 9.20 | 8.88 | 8.07 | 7.49 | 9.52 | 8.48 | 11.91 | 17.73 | 12.16 | 17.22 | 18.10 |
| EV / EBIT | 12.00 | 13.76 | — | 14.22 | 20.79 | 18.19 | — | 25.77 | 13.90 | 19.48 | 16.55 |
| EV / FCF | — | 11.45 | 11.15 | 10.80 | 15.57 | 11.26 | 13.32 | 19.68 | 13.99 | 24.59 | 54.61 |
BMY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Bristol-Myers Squibb Company earns an operating margin of 26.3%. Operating margins have expanded from 18.8% to 26.3% over the past 3 years, signaling improving operational efficiency. Return on equity of 40.4% is exceptionally high. ROIC of 16.9% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.6% | 67.6% | 56.8% | 56.3% | 57.4% | 57.7% | 51.0% | 66.0% | 71.3% | 72.0% | 74.6% |
| Operating Margin | 26.3% | 26.3% | 20.0% | 18.8% | 20.1% | 20.6% | 10.6% | 24.6% | 28.3% | 25.2% | 26.7% |
| Net Profit Margin | 14.6% | 14.6% | -18.5% | 17.8% | 13.7% | 15.1% | -21.2% | 13.2% | 21.8% | 4.8% | 22.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 40.4% | 40.4% | -39.0% | 26.5% | 18.9% | 18.9% | -20.1% | 10.4% | 37.9% | 7.1% | 29.0% |
| ROA | 7.7% | 7.7% | -9.5% | 8.4% | 6.1% | 6.1% | -7.2% | 4.2% | 14.4% | 3.0% | 13.6% |
| ROIC | 16.9% | 16.9% | 12.4% | 10.4% | 10.7% | 10.0% | 4.2% | 9.5% | 33.1% | 23.7% | 20.7% |
| ROCE | 18.7% | 18.7% | 13.6% | 11.5% | 11.4% | 10.2% | 4.3% | 9.5% | 26.5% | 21.4% | 21.3% |
BMY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Bristol-Myers Squibb Company carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (9% below the sector average of 3.1x). Net debt stands at $36.9B ($47.1B total debt minus $10.2B cash). Interest coverage of 7.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.55 | 2.55 | 3.12 | 1.41 | 1.31 | 1.27 | 1.36 | 0.92 | 0.52 | 0.67 | 0.41 |
| Debt / EBITDA | 2.85 | 2.85 | 2.66 | 2.27 | 2.08 | 2.25 | 3.47 | 5.81 | 1.05 | 1.32 | 1.21 |
| Net Debt / Equity | — | 2.00 | 2.49 | 1.02 | 1.02 | 0.88 | 0.98 | 0.68 | 0.03 | 0.21 | 0.15 |
| Net Debt / EBITDA | 2.23 | 2.23 | 2.12 | 1.65 | 1.62 | 1.56 | 2.50 | 4.30 | 0.06 | 0.42 | 0.44 |
| Debt / FCF | — | 2.88 | 2.93 | 2.37 | 2.64 | 2.08 | 2.79 | 4.77 | 0.07 | 0.60 | 1.34 |
| Interest Coverage | 7.08 | 7.08 | -3.30 | 8.24 | 7.26 | 7.07 | -3.84 | 8.58 | 33.61 | 27.18 | 36.42 |
BMY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.26x means Bristol-Myers Squibb Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.43x to 1.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.25 | 1.43 | 1.25 | 1.52 | 1.58 | 1.60 | 1.66 | 1.55 | 1.55 |
| Quick Ratio | 1.14 | 1.14 | 1.15 | 1.31 | 1.14 | 1.43 | 1.47 | 1.37 | 1.55 | 1.43 | 1.41 |
| Cash Ratio | 0.46 | 0.46 | 0.46 | 0.55 | 0.42 | 0.79 | 0.86 | 0.84 | 0.82 | 0.71 | 0.72 |
| Asset Turnover | — | 0.54 | 0.52 | 0.47 | 0.48 | 0.42 | 0.36 | 0.20 | 0.64 | 0.62 | 0.58 |
| Inventory Turnover | 5.80 | 5.80 | 8.16 | 7.38 | 8.41 | 9.37 | 10.04 | 2.07 | 5.43 | 4.99 | 3.97 |
| Days Sales Outstanding | — | 110.01 | 109.00 | 123.79 | 110.21 | 98.49 | 90.60 | 107.29 | 92.98 | 110.68 | 104.14 |
BMY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Bristol-Myers Squibb Company returns 4.4% to shareholders annually primarily through dividends. The payout ratio of 71.5% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 6.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.4% | 4.6% | 4.2% | 4.4% | 3.0% | 3.1% | 2.9% | 2.4% | 3.1% | 2.5% | 2.6% |
| Payout Ratio | 71.5% | 71.5% | — | 59.1% | 73.2% | 62.9% | — | 77.9% | 53.1% | 255.9% | 57.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 6.4% | — | 7.5% | 4.1% | 5.0% | — | 3.1% | 5.8% | 1.0% | 4.5% |
| FCF Yield | 11.1% | 11.7% | 12.2% | 11.9% | 7.7% | 10.9% | 9.5% | 6.7% | 7.2% | 4.2% | 1.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 4.8% | 5.2% | 4.5% | 1.1% | 6.6% | 0.4% | 2.4% | 0.2% |
| Total Shareholder Yield | 4.4% | 4.6% | 4.2% | 9.3% | 8.2% | 7.6% | 4.0% | 9.1% | 3.4% | 5.0% | 2.8% |
| Shares Outstanding | — | $2.0B | $2.0B | $2.1B | $2.1B | $2.2B | $2.3B | $1.7B | $1.6B | $1.7B | $1.7B |
Peer Comparison
Compare BMY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BMYYou | $115B | 16.4 | 9.2 | 9.0 | 67.6% | 26.3% | 40.4% | 16.9% | 2.8 |
 PFE | $151B | 19.5 | 10.7 | 16.6 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 MRK | $280B | 15.6 | 10.8 | 22.7 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 ABBV | $363B | 86.5 | 15.1 | 20.4 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 LLY | $933B | 43.0 | 31.0 | 104.0 | 83.8% | 45.6% | 101.2% | 41.8% | 1.4 |
 JNJ | $541B | 38.8 | 18.8 | 27.3 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 AZN | $287B | 28.3 | 16.0 | 24.4 | 81.9% | 23.4% | 22.9% | 14.9% | 1.5 |
 GSK | $102B | 6.7 | 8.4 | 12.8 | 72.4% | 25.5% | 39.4% | 22.1% | 1.7 |
 GILD | $170B | 358.7 | 42.1 | 16.5 | 78.3% | 5.8% | 2.3% | 3.2% | 6.0 |
 REGN | $75B | 17.4 | 18.1 | 18.4 | 85.4% | 24.9% | 14.9% | 8.9% | 0.7 |
 SNY | $106B | 18.4 | 10.9 | 10.1 | 72.3% | 13.6% | 10.4% | 5.5% | 2.3 |
| Healthcare Median | — | 22.2 | 14.1 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonBMY — Frequently Asked Questions
Quick answers to the most common questions about buying BMY stock.
What is Bristol-Myers Squibb Company's P/E ratio?
Bristol-Myers Squibb Company's current P/E ratio is 16.4x. The historical average is 27.6x. This places it at the 25th percentile of its historical range.
What is Bristol-Myers Squibb Company's EV/EBITDA?
Bristol-Myers Squibb Company's current EV/EBITDA is 9.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.2x.
What is Bristol-Myers Squibb Company's ROE?
Bristol-Myers Squibb Company's return on equity (ROE) is 40.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 26.4%.
Is BMY stock overvalued?
Based on historical data, Bristol-Myers Squibb Company is trading at a P/E of 16.4x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Bristol-Myers Squibb Company's dividend yield?
Bristol-Myers Squibb Company's current dividend yield is 4.37% with a payout ratio of 71.5%.
What are Bristol-Myers Squibb Company's profit margins?
Bristol-Myers Squibb Company has 67.6% gross margin and 26.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Bristol-Myers Squibb Company have?
Bristol-Myers Squibb Company's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.