Bristol-Myers Squibb Company (BMY) Key Metrics
BMY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $122.05B
- Enterprise value
- $156.04B
- P/E (TTM)
- 13.2 10-yr median 21.0
- Forward P/E
- 9.4
- PEG ratio
- 17.03
- Price / sales
- 2.5 10-yr median 3.3
- Price / book
- 5.6 10-yr median 5.5
- EV / EBITDA
- 9.4 10-yr median 13.8
- Dividend yield
- 4.22% $2.52 a year
- Beta
- 0.18
BMY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBMY valuation Price multiples at each fiscal year-end price.
BMY returns How much profit the business earns on the capital it uses.
BMY per-share figures Results divided by the shares outstanding at year-end.
BMY financial health Debt, liquidity and how easily interest is covered.
BMY efficiency & capital use Working capital cycle and where the cash goes.
BMY valuation history
BMY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BMY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BMY cash returned to shareholders
BMY price vs earnings per share
BMY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $110.09B | $114.65B | $106.62B | $154.40B | $139.98B | $140.06B | $109.89B | $85.09B | $101.23B | $98.18B |
| Enterprise value | $146.56B | $154.99B | $135.81B | $185.87B | $168.35B | $175.29B | $142.04B | $83.68B | $102.38B | $98.54B |
| P/E ratio | 15.6 | — | 13.3 | 24.4 | 20.0 | — | 32.0 | 17.3 | 100.5 | 22.0 |
| Price / sales | 2.3 | 2.4 | 2.4 | 3.3 | 3.0 | 3.3 | 4.2 | 3.8 | 4.9 | 5.1 |
| Price / book | 6.0 | 7.0 | 3.6 | 5.0 | 3.9 | 3.7 | 2.1 | 6.1 | 8.6 | 6.1 |
| Price / free cash flow | 8.6 | 8.2 | 8.4 | 12.9 | 9.2 | 10.5 | 15.2 | 13.9 | 24.0 | 53.3 |
| Price / operating cash flow | 7.8 | 7.5 | 7.7 | 11.8 | 8.6 | 10.0 | 13.6 | 12.0 | 19.2 | 32.1 |
| EV / sales | 3.0 | 3.2 | 3.0 | 4.0 | 3.6 | 4.1 | 5.4 | 3.7 | 4.9 | 5.1 |
| EV / EBITDA | 9.6 | 48.9 | 7.0 | 9.7 | 8.4 | 35.6 | 19.3 | 12.3 | 16.7 | 15.2 |
| EV / free cash flow | 11.4 | 11.1 | 10.7 | 15.6 | 11.1 | 13.2 | 19.6 | 13.7 | 24.3 | 53.5 |
| Earnings yield | 6.4% | −7.8% | 7.5% | 4.1% | 5.0% | −6.4% | 3.1% | 5.8% | 1.0% | 4.5% |
| Free cash flow yield | 11.7% | 12.2% | 11.9% | 7.7% | 10.9% | 9.5% | 6.6% | 7.2% | 4.2% | 1.9% |
| Dividend yield | 4.6% | 4.2% | 4.4% | 3.0% | 3.1% | 2.9% | 2.4% | 3.1% | 2.5% | 2.6% |
| Shareholder yield (dividends + buybacks) | 4.6% | 4.2% | 9.3% | 8.2% | 7.6% | 4.0% | 9.1% | 3.4% | 5.0% | 2.8% |
| Share price at fiscal year-end | $53.94 | $56.56 | $51.31 | $71.95 | $62.35 | $62.03 | $64.19 | $51.98 | $61.28 | $58.44 |
| Per share | ||||||||||
| Revenue per share | $23.61 | $23.83 | $21.66 | $21.51 | $20.66 | $18.83 | $15.27 | $13.78 | $12.58 | $11.56 |
| Earnings per share | $3.46 | −$4.41 | $3.86 | $2.95 | $3.12 | −$3.98 | $2.01 | $3.01 | $0.61 | $2.65 |
| Operating cash flow per share | $6.94 | $7.49 | $6.67 | $6.09 | $7.22 | $6.22 | $4.71 | $4.32 | $3.19 | $1.82 |
| Free cash flow per share | $6.29 | $6.88 | $6.09 | $5.57 | $6.79 | $5.89 | $4.22 | $3.74 | $2.55 | $1.10 |
| Cash per share | $5.23 | $5.36 | $5.91 | $4.31 | $7.67 | $7.29 | $8.99 | $5.35 | $4.12 | $3.78 |
| Book value per share | $9.05 | $8.06 | $14.16 | $14.47 | $16.01 | $16.75 | $30.14 | $8.57 | $7.11 | $9.63 |
| Tangible book value per share | −$10.97 | −$14.32 | −$9.25 | −$12.32 | −$12.17 | −$16.02 | −$20.36 | $3.91 | $2.22 | $4.71 |
| Dividends per share | $2.47 | $2.40 | $2.28 | $2.16 | $1.96 | $1.80 | $1.56 | $1.60 | $1.56 | $1.52 |
| Capex per share | $0.64 | $0.62 | $0.58 | $0.52 | $0.43 | $0.33 | $0.49 | $0.58 | $0.64 | $0.72 |
| Debt per share | $23.10 | $25.26 | $19.95 | $18.97 | $20.31 | $22.88 | $27.77 | $4.49 | $4.82 | $3.99 |
| Shares outstanding | 2.04B | 2.03B | 2.08B | 2.15B | 2.25B | 2.26B | 1.71B | 1.64B | 1.65B | 1.68B |
| Change in shares outstanding | +0.7% | −2.5% | −3.2% | −4.4% | −0.6% | +31.9% | +4.6% | −0.9% | −1.7% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 40.5% | −39.1% | 26.5% | 18.9% | 19.0% | −20.1% | 10.5% | 38.2% | 7.2% | 29.3% |
| Return on invested capital (ROIC) | 18.6% | 8.1% | 12.9% | 11.8% | 12.0% | 4.5% | 9.3% | 41.6% | 17.8% | 23.8% |
| Return on assets (ROA) | 7.7% | −9.5% | 8.4% | 6.1% | 6.1% | −7.2% | 4.2% | 14.4% | 3.0% | 13.6% |
| Return on tangible assets | 14.3% | −18.9% | 17.3% | 16.1% | 15.2% | −20.2% | 7.9% | 18.0% | 4.0% | 17.5% |
| Free cash flow margin | 26.7% | 28.9% | 28.1% | 25.9% | 32.8% | 31.3% | 27.7% | 27.1% | 20.3% | 9.5% |
| Income quality (OCF / net income) | 2.01 | — | 1.73 | 2.07 | 2.32 | — | 2.35 | 1.44 | 5.24 | 0.69 |
| Financial health | ||||||||||
| Total debt | $47.14B | $51.20B | $41.46B | $40.72B | $45.60B | $51.67B | $47.54B | $7.35B | $7.96B | $6.71B |
| Cash & short-term investments | $10.67B | $10.86B | $12.28B | $9.25B | $17.22B | $16.45B | $15.39B | $8.76B | $6.81B | $6.35B |
| Net debt | $36.47B | $40.34B | $29.18B | $31.46B | $28.38B | $35.22B | $32.15B | −$1.41B | $1.15B | $358.0M |
| Debt / equity | 2.55 | 3.13 | 1.41 | 1.31 | 1.27 | 1.37 | 0.92 | 0.52 | 0.68 | 0.41 |
| Debt / assets | 0.52 | 0.55 | 0.44 | 0.42 | 0.42 | 0.44 | 0.37 | 0.21 | 0.24 | 0.20 |
| Net debt / EBITDA | 2.39 | 12.73 | 1.51 | 1.64 | 1.41 | 7.15 | 4.36 | −0.21 | 0.19 | 0.06 |
| Current ratio | 1.26 | 1.25 | 1.43 | 1.25 | 1.52 | 1.58 | 1.60 | 1.66 | 1.55 | 1.55 |
| Quick ratio | 1.14 | 1.15 | 1.31 | 1.14 | 1.43 | 1.47 | 1.37 | 1.55 | 1.43 | 1.41 |
| Interest coverage | 7.3 | 3.0 | 7.0 | 7.4 | 7.2 | 3.2 | 9.8 | 34.9 | 26.7 | 31.0 |
| Working capital | $5.97B | $6.01B | $9.51B | $5.38B | $11.39B | $11.11B | $11.05B | $7.06B | $5.29B | $4.86B |
| Invested capital | $54.94B | $56.68B | $58.61B | $62.52B | $64.32B | $73.05B | $83.74B | $12.62B | $12.89B | $16.54B |
| Tangible asset value | −$22.35B | −$28.97B | −$19.17B | −$26.39B | −$27.27B | −$36.11B | −$34.76B | $6.50B | $3.77B | $8.09B |
| Net current asset value | −$42.14B | −$46.44B | −$33.90B | −$38.43B | −$40.05B | −$50.41B | −$48.89B | −$3.14B | −$6.85B | −$3.66B |
| Graham number | $26.53 | — | $35.08 | $30.99 | $33.50 | — | $36.91 | $24.08 | $9.87 | $23.97 |
| Graham net-net per share | −$23.82 | −$26.28 | −$19.55 | −$20.89 | −$20.34 | −$24.44 | −$32.09 | −$4.39 | −$5.80 | −$3.71 |
| Capital allocation | ||||||||||
| Dividends paid | $5.04B | $4.86B | $4.74B | $4.63B | $4.40B | $4.08B | $2.68B | $2.61B | $2.58B | $2.55B |
| Share buybacks (net) | $0 | $0 | $5.16B | $8.00B | $6.29B | $1.55B | $7.30B | $320.0M | $2.47B | $231.0M |
| Dividend payout ratio | 71.5% | — | 59.1% | 73.2% | 62.9% | — | 77.9% | 53.1% | 255.9% | 57.1% |
| Dividends + buybacks / free cash flow | 39.3% | 34.9% | 78.2% | 105.7% | 70.1% | 42.3% | 138.0% | 48.0% | 119.6% | 150.7% |
| Capex / revenue | 2.7% | 2.6% | 2.7% | 2.4% | 2.1% | 1.8% | 3.2% | 4.2% | 5.1% | 6.3% |
| Capex / operating cash flow | 9.3% | 8.2% | 8.7% | 8.6% | 6.0% | 5.4% | 10.4% | 13.5% | 20.0% | 39.7% |
| Capex / depreciation | 0.33 | 0.13 | 0.12 | 0.11 | 0.09 | 0.07 | 0.48 | 1.49 | 1.34 | 3.18 |
| Stock-based compensation / revenue | 1.1% | 1.0% | 1.2% | 1.0% | 1.3% | 1.8% | 1.7% | 1.0% | 1.0% | 1.1% |
| R&D / revenue | 20.6% | 23.1% | 20.7% | 20.6% | 20.6% | 22.5% | 22.8% | 22.7% | 23.9% | 22.7% |
| SG&A / revenue | 15.0% | 16.3% | 17.1% | 33.9% | 16.6% | 18.0% | 18.6% | 20.2% | 23.3% | 25.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 109.6 | 112.2 | 118.4 | 104.6 | 90.8 | 78.3 | 93.8 | 97.5 | 104.0 | 92.5 |
| Days of inventory on hand | 68.7 | 68.2 | 85.4 | 79.8 | 38.8 | 55.8 | 112.6 | 66.4 | 75.5 | 91.1 |
| Days payables outstanding | 94.0 | 89.6 | 107.5 | 107.8 | 52.7 | 45.2 | 89.0 | 116.5 | 122.7 | 119.5 |
| Cash conversion cycle (days) | 84.3 | 90.7 | 96.3 | 76.6 | 76.9 | 88.9 | 117.4 | 47.4 | 56.8 | 64.1 |
| Receivables turnover | 3.33 | 3.25 | 3.08 | 3.49 | 4.02 | 4.66 | 3.89 | 3.75 | 3.51 | 3.95 |
| Payables turnover | 3.88 | 4.07 | 3.40 | 3.39 | 6.93 | 8.07 | 4.10 | 3.13 | 2.97 | 3.05 |
| Inventory turnover | 5.31 | 5.35 | 4.28 | 4.57 | 9.41 | 6.54 | 3.24 | 5.49 | 4.83 | 4.01 |
| Asset turnover | 0.53 | 0.51 | 0.47 | 0.45 | 0.41 | 0.34 | 0.32 | 0.66 | 0.62 | 0.59 |
| Average receivables | $14.47B | $14.84B | $14.60B | $13.23B | $11.54B | $9.12B | $6.72B | $6.02B | $5.92B | $4.92B |
| Average payables | $3.59B | $3.43B | $3.15B | $2.99B | $2.83B | $2.58B | $2.17B | $2.07B | $1.96B | $1.61B |
| Average inventory | $2.62B | $2.61B | $2.50B | $2.22B | $2.08B | $3.18B | $2.74B | $1.18B | $1.20B | $1.23B |
| Intangibles / total assets | 45.4% | 49.0% | 51.1% | 59.4% | 57.9% | 62.5% | 66.5% | 21.8% | 24.1% | 24.5% |
Computed from BMY's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BMY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Bristol Myers Squibb traded at 15.6 times earnings, against a 10-year median of 21.0. Based on the latest twelve months, the trailing P/E is 13.2 and the forward P/E is 9.4. Bristol Myers Squibb earned a return on equity of 40.5% and a return on invested capital of 18.6% in fiscal 2025. It ended the year with $47.1 billion of debt and $10.7 billion in cash and short-term investments, net debt of $36.5 billion. It returned $5.0 billion to shareholders: $5.0 billion in dividends and $0 in share buybacks, 39% of free cash flow. The share count rose 21.5% from 1.68B to 2.04B over 9 years.
See the BMY income statement, the BMY chart for price history, or the BMY stock overview for the latest quote and news.
BMY key metrics FAQ
What is Bristol Myers Squibb's P/E ratio?
Bristol Myers Squibb's trailing P/E ratio is 13.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.4. At the end of fiscal 2025 it was 15.6, compared with a 10-year median of 21.0.
What is Bristol Myers Squibb's EV/EBITDA?
Bristol Myers Squibb's enterprise value was 9.6 times EBITDA at the end of fiscal 2025 (enterprise value $146.6 billion, EBITDA $15.2 billion); the current EV/EBITDA is 9.4.
What is Bristol Myers Squibb's return on equity?
Bristol Myers Squibb's return on equity (ROE) was 40.5% in fiscal 2025: net income of $7.1 billion on average shareholders' equity of $17.4 billion.
What is Bristol Myers Squibb's ROIC?
Bristol Myers Squibb's return on invested capital was 18.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Bristol Myers Squibb have?
Bristol Myers Squibb had total debt of $47.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.55 and $36.5 billion of net debt (2.39 times EBITDA).
What is Bristol Myers Squibb's dividend yield?
Bristol Myers Squibb's forward dividend yield is 4.22%. Bristol Myers Squibb paid $5.0 billion in dividends in fiscal 2025 ($2.47 per share), a payout ratio of 71.5%.
What is Bristol Myers Squibb's free cash flow yield?
Bristol Myers Squibb generated $12.8 billion of free cash flow in fiscal 2025, a free cash flow yield of 11.7% on its market value at year-end ($110.1 billion).
What is Bristol Myers Squibb's current ratio?
Bristol Myers Squibb's current ratio was 1.26 at the end of fiscal 2025: current assets were 1.26 times current liabilities.