Bristol-Myers Squibb Company

NYSE:BMY Stock Report

Market Cap: US$117.1b

Bristol-Myers Squibb Valuation

Is BMY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BMY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BMY ($57.76) is trading below our estimate of fair value ($182.86)

Significantly Below Fair Value: BMY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BMY?

Key metric: As BMY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BMY. This is calculated by dividing BMY's market cap by their current revenue.
What is BMY's PS Ratio?
PS Ratio2.5x
SalesUS$47.44b
Market CapUS$117.15b

Price to Sales Ratio vs Peers

How does BMY's PS Ratio compare to its peers?

The above table shows the PS ratio for BMY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.7x
ZTS Zoetis
8.1x5.8%US$74.3b
PFE Pfizer
2.6x0.3%US$151.5b
MRK Merck
4x5.0%US$251.6b
JNJ Johnson & Johnson
4x3.3%US$351.2b
BMY Bristol-Myers Squibb
2.5x-2.9%US$117.1b

Price-To-Sales vs Peers: BMY is good value based on its Price-To-Sales Ratio (2.5x) compared to the peer average (4.7x).

Price to Sales Ratio vs Industry

How does BMY's PS Ratio compare vs other companies in the US Pharmaceuticals Industry?

68 CompaniesPrice / SalesEstimated GrowthMarket Cap
OGN Organon
0.6x0.02%US$3.79b
PRGO Perrigo
0.8x3.4%US$3.50b
BHC Bausch Health Companies
0.3x1.5%US$2.77b
PAHC Phibro Animal Health
0.8x12.5%US$876.50m
BMY 2.5xIndustry Avg. 3.0xNo. of Companies68PS03.67.210.814.418+
68 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BMY is good value based on its Price-To-Sales Ratio (2.5x) compared to the US Pharmaceuticals industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is BMY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BMY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.5x
Fair PS Ratio6.6x

Price-To-Sales vs Fair Ratio: BMY is good value based on its Price-To-Sales Ratio (2.5x) compared to the estimated Fair Price-To-Sales Ratio (6.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BMY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$57.76
US$60.91
+5.5%
12.1%US$73.00US$39.00n/a21
Dec ’25US$59.22
US$60.43
+2.1%
12.0%US$73.00US$39.00n/a21
Nov ’25US$54.32
US$54.51
+0.3%
12.4%US$64.00US$36.00n/a22
Oct ’25US$52.90
US$53.86
+1.8%
14.7%US$75.00US$37.00n/a21
Sep ’25US$49.95
US$53.34
+6.8%
14.9%US$75.00US$37.00n/a21
Aug ’25US$48.17
US$52.01
+8.0%
16.2%US$75.00US$37.00n/a22
Jul ’25US$41.30
US$53.19
+28.8%
16.7%US$75.00US$37.00n/a22
Jun ’25US$41.09
US$53.19
+29.5%
16.7%US$75.00US$37.00n/a22
May ’25US$44.21
US$53.54
+21.1%
15.8%US$75.00US$37.00n/a23
Apr ’25US$52.99
US$56.50
+6.6%
13.3%US$75.00US$41.00n/a23
Mar ’25US$50.89
US$56.70
+11.4%
15.8%US$85.00US$41.00n/a22
Feb ’25US$48.67
US$60.66
+24.6%
16.7%US$85.00US$42.00n/a23
Jan ’25US$51.31
US$61.92
+20.7%
16.5%US$85.00US$42.00n/a23
Dec ’24US$50.10
US$64.13
+28.0%
17.0%US$90.00US$50.00US$59.2224
Nov ’24US$51.28
US$65.60
+27.9%
16.0%US$90.00US$50.00US$54.3223
Oct ’24US$58.04
US$72.47
+24.9%
13.0%US$90.00US$55.00US$52.9023
Sep ’24US$62.02
US$72.83
+17.4%
13.4%US$90.00US$56.00US$49.9524
Aug ’24US$61.53
US$73.21
+19.0%
13.6%US$92.00US$56.00US$48.1724
Jul ’24US$63.95
US$78.64
+23.0%
12.4%US$92.00US$59.00US$41.3022
Jun ’24US$64.68
US$79.05
+22.2%
12.4%US$92.00US$59.00US$41.0921
May ’24US$68.40
US$78.74
+15.1%
11.8%US$92.00US$59.00US$44.2121
Apr ’24US$69.31
US$80.00
+15.4%
11.4%US$95.00US$62.00US$52.9921
Mar ’24US$69.36
US$81.47
+17.5%
10.9%US$95.00US$62.00US$50.8919
Feb ’24US$71.23
US$81.10
+13.9%
11.0%US$95.00US$60.00US$48.6719
Jan ’24US$71.95
US$79.73
+10.8%
10.9%US$92.00US$60.00US$51.3119
Dec ’23US$80.88
US$79.26
-2.0%
10.4%US$90.00US$60.00US$50.1019

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 04:06
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bristol-Myers Squibb Company is covered by 51 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ToungArgus Research Company
Ishan MajumdarBaptista Research
Charles ButlerBarclays