# Bristol-Myers Squibb Co. (BMY) — Stock CV

Bristol-Myers Squibb Co. is a $121B healthcare company. Revenue grew 3.1% over the last year, it keeps 19¢ of every dollar of sales as profit, and its net debt equals ~3.0 years of free cash flow. It trades at 13.0× earnings — near the lowest of its own history.

> Bristol Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development.

## Identity

- **Ticker**: BMY
- **Sector**: Healthcare
- **Industry**: Drug Manufacturers - General
- **Headquarters**: PRINCETON, NJ
- **Employees**: 32 500
- **Website**: https://www.bms.com
- **Market cap**: $121B
- **Last price**: $59.14
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $49.2B
- **Net income**: $9.28B
- **Free cash flow**: $11.4B
- **Net debt**: $34.4B
- **P/E**: 13.0
- **Revenue growth (YoY)**: 3.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 90 |
| Growth | 37 |
| Profitability | 82 |
| Health | 59 |
| Quality | 95 |
| Moat | 63 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +3.1% YoY
- [x] Profitable — $9.28B TTM
- [x] Profit growing — +5.5% YoY
- [x] Generates cash — $11.4B TTM
- [x] Debt under control — ~3.0y of cash flow to repay
- [x] Established company — $121B market cap
- [x] Not printing shares — -9.8% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [x] Financially stable — Altman Z 2.2 — grey
- [x] Pays a dividend — yield 6.28%
- [x] Valuation not extreme — P/E 13.0

## Experience (career milestones)

- **FY2023** — Best year on record: $8.03B net income
- **FY2018** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $4.46B net income
- **FY2016** — Revenue already above $10B: $19.4B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2007** — This was part of a business strategy launched in 2007 to transform the company from a large, diversified…
- **2005** — Penicillin production at the East Syracuse plant ended in 2005
- **1989** — Bristol-Myers and Squibb merged and became Bristol-Myers Squibb
- **1945** — And entered the civilian antibiotics market
- **1943** — Bristol-Myers acquired Cheplin Biological Laboratories, a producer of acidophilus milk in East Syracuse,…
- **1901** — The company introduced its first nationally recognized product Sal Hepatica, a laxative mineral…
- **1895** — The company officially became E.R
- **1887** — Hamilton College graduates William McLaren Bristol and John Ripley Myers purchased the Clinton…
- **1858** — The Squibb corporation was founded in 1858 by Edward Robinson Squibb in Brooklyn, New York after resigning from his…

## Strengths

- High gross margin (71.7%)
- Strong cash conversion — FCF is 23.3% of revenue
- Interest covered 9.5× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $46.4B | $6.99B | $15.2B |
| FY2022 | $46.2B | $6.33B | $11.9B |
| FY2023 | $45.0B | $8.03B | $12.7B |
| FY2024 | $48.3B | -$8.95B | $13.9B |
| FY2025 | $48.2B | $7.05B | $12.8B |

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Source: https://stockcv.com/BMY — derived from company filings; may be delayed or incomplete. Information, not investment advice.