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Bristol-Myers Squibb

NYSE:BMY
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BMY
NYSE
$102B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The last earnings update was 58 days ago. More info.


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BMY Share Price and Events
Price Volatility
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5yr Volatility vs Market
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Value

 Is Bristol-Myers Squibb undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bristol-Myers Squibb to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bristol-Myers Squibb.

NYSE:BMY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BMY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.758 (1 + (1- 21%) (7.27%))
0.801
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.801 * 7.05%)
8.6%

Discounted Cash Flow Calculation for NYSE:BMY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bristol-Myers Squibb is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:BMY DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 5,531.94 6,719.05 7,476.50 7,850.00 8,385.39
Source Analyst x7 Analyst x6 Analyst x2 Analyst x2 Est @ 6.82%
Present Value
Discounted (@ 8.6%)
5,093.99 5,697.29 5,837.67 5,644.06 5,551.70
Present value of next 5 years cash flows $27,824.71
NYSE:BMY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $8,385.39 × (1 + 2.95%) ÷ (8.6% – 2.95%)
$152,862.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $152,862.09 ÷ (1 + 8.6%)5
$101,205.07
NYSE:BMY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $27,824.71 + $101,205.07
$129,029.79
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $129,029.79 / 1,631.88
$79.07
NYSE:BMY Discount to Share Price
Calculation Result
Value per share (USD) From above. $79.07
Current discount Discount to share price of $62.25
= -1 x ($62.25 - $79.07) / $79.07
21.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bristol-Myers Squibb is available for.
Intrinsic value
21%
Share price is $62.25 vs Future cash flow value of $79.07
Current Discount Checks
For Bristol-Myers Squibb to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bristol-Myers Squibb's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bristol-Myers Squibb's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bristol-Myers Squibb's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bristol-Myers Squibb's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BMY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $0.23
NYSE:BMY Share Price ** NYSE (2018-09-21) in USD $62.25
United States of America Pharmaceuticals Industry PE Ratio Median Figure of 26 Publicly-Listed Pharmaceuticals Companies 27.61x
United States of America Market PE Ratio Median Figure of 3,049 Publicly-Listed Companies 20.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bristol-Myers Squibb.

NYSE:BMY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BMY Share Price ÷ EPS (both in USD)

= 62.25 ÷ 0.23

270.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bristol-Myers Squibb is overvalued based on earnings compared to the US Pharmaceuticals industry average.
  • Bristol-Myers Squibb is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Bristol-Myers Squibb's expected growth come at a high price?
Raw Data
NYSE:BMY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 270.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
19.4%per year
United States of America Pharmaceuticals Industry PEG Ratio Median Figure of 21 Publicly-Listed Pharmaceuticals Companies 1x
United States of America Market PEG Ratio Median Figure of 2,046 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

NYSE:BMY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 270.69x ÷ 19.4%

13.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bristol-Myers Squibb is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bristol-Myers Squibb's assets?
Raw Data
NYSE:BMY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $7.55
NYSE:BMY Share Price * NYSE (2018-09-21) in USD $62.25
United States of America Pharmaceuticals Industry PB Ratio Median Figure of 166 Publicly-Listed Pharmaceuticals Companies 3.62x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 2.02x
NYSE:BMY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BMY Share Price ÷ Book Value per Share (both in USD)

= 62.25 ÷ 7.55

8.25x

* Primary Listing of Bristol-Myers Squibb.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bristol-Myers Squibb is overvalued based on assets compared to the US Pharmaceuticals industry average.
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Value checks
We assess Bristol-Myers Squibb's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Bristol-Myers Squibb has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Bristol-Myers Squibb expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bristol-Myers Squibb expected to grow at an attractive rate?
  • Bristol-Myers Squibb's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Bristol-Myers Squibb's earnings growth is expected to exceed the United States of America market average.
  • Bristol-Myers Squibb's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BMY Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BMY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 19.4%
NYSE:BMY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 5.2%
United States of America Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 20.4%
United States of America Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 16.6%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BMY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BMY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 27,271 8,523 8,457 8
2021-12-31 26,194 7,980 7,697 9
2020-12-31 24,847 7,695 7,018 12
2019-12-31 23,590 6,511 6,166 14
2018-12-31 22,302 5,676 4,715 14
NYSE:BMY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 21,600 5,062 376
2018-03-31 21,040 5,589 919
2017-12-31 20,776 5,275 1,007
2017-09-30 20,570 5,601 4,229
2017-06-30 20,238 5,292 4,586
2017-03-31 19,965 4,147 4,836
2016-12-31 19,427 3,058 4,457
2016-09-30 18,471 2,226 3,366
2016-06-30 17,618 1,346 2,870
2016-03-31 16,910 978 1,574
2015-12-31 16,560 2,105 1,565
2015-09-30 16,531 1,793 1,775

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bristol-Myers Squibb's earnings are expected to grow by 19.4% yearly, however this is not considered high growth (20% yearly).
  • Bristol-Myers Squibb's revenue is expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BMY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Bristol-Myers Squibb Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BMY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 4.86 5.19 4.52 2.00
2021-12-31 4.28 4.53 4.03 2.00
2020-12-31 3.99 4.58 3.61 4.00
2019-12-31 3.62 4.24 3.06 7.00
2018-12-31 2.80 2.96 2.48 7.00
NYSE:BMY Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 0.23
2018-03-31 0.56
2017-12-31 0.61
2017-09-30 2.56
2017-06-30 2.76
2017-03-31 2.90
2016-12-31 2.67
2016-09-30 2.02
2016-06-30 1.72
2016-03-31 0.94
2015-12-31 0.94
2015-09-30 1.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Bristol-Myers Squibb is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
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Future performance checks
We assess Bristol-Myers Squibb's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bristol-Myers Squibb has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Bristol-Myers Squibb performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bristol-Myers Squibb's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bristol-Myers Squibb's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Bristol-Myers Squibb's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bristol-Myers Squibb's 1-year earnings growth is negative, it can't be compared to the US Pharmaceuticals industry average.
Earnings and Revenue History
Bristol-Myers Squibb's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bristol-Myers Squibb Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BMY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 21,600.00 376.00 4,524.00 5,038.00
2018-03-31 21,040.00 919.00 4,580.00 4,887.00
2017-12-31 20,776.00 1,007.00 4,686.00 4,823.00
2017-09-30 20,570.00 4,229.00 4,880.00 4,679.00
2017-06-30 20,238.00 4,586.00 4,877.00 4,589.00
2017-03-31 19,965.00 4,836.00 4,928.00 4,513.00
2016-12-31 19,427.00 4,457.00 4,911.00 4,405.00
2016-09-30 18,471.00 3,366.00 4,947.00 4,366.00
2016-06-30 17,618.00 2,870.00 4,977.00 4,310.00
2016-03-31 16,910.00 1,574.00 4,871.00 4,181.00
2015-12-31 16,560.00 1,565.00 4,831.00 4,037.00
2015-09-30 16,531.00 1,775.00 4,697.00 4,001.00
2015-06-30 16,383.00 1,790.00 4,625.00 3,896.00
2015-03-31 16,109.00 2,253.00 4,628.00 3,869.00
2014-12-31 15,879.00 2,004.00 4,717.00 3,913.00
2014-09-30 16,062.00 2,717.00 4,666.00 3,715.00
2014-06-30 16,206.00 2,688.00 4,734.00 3,690.00
2014-03-31 16,365.00 2,891.00 4,858.00 3,683.00
2013-12-31 16,385.00 2,563.00 4,923.00 3,715.00
2013-09-30 16,135.00 2,762.00 4,964.00 3,791.00
2013-06-30 15,806.00 1,360.00 4,962.00 3,801.00
2013-03-31 16,201.00 1,468.00 4,926.00 3,767.00
2012-12-31 17,621.00 1,959.00 4,932.00 3,688.00
2012-09-30 18,884.00 1,884.00 5,070.00 3,679.00
2012-06-30 20,493.00 3,561.00 5,121.00 3,667.00
2012-03-31 21,484.00 3,817.00 5,181.00 3,623.00
2011-12-31 21,244.00 3,701.00 5,131.00 3,604.00
2011-09-30 20,901.00 3,333.00 4,903.00 3,536.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bristol-Myers Squibb has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bristol-Myers Squibb used its assets less efficiently than the US Pharmaceuticals industry average last year based on Return on Assets.
  • Bristol-Myers Squibb has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bristol-Myers Squibb's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bristol-Myers Squibb has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Bristol-Myers Squibb's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bristol-Myers Squibb's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bristol-Myers Squibb is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bristol-Myers Squibb's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bristol-Myers Squibb's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bristol-Myers Squibb Company Filings, last reported 2 months ago.

NYSE:BMY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 12,418.00 7,387.00 6,075.00
2018-03-31 12,906.00 7,700.00 6,770.00
2017-12-31 11,847.00 7,962.00 6,812.00
2017-09-30 14,914.00 8,443.00 7,122.00
2017-06-30 14,821.00 8,217.00 6,505.00
2017-03-31 14,535.00 8,439.00 6,109.00
2016-12-31 16,347.00 6,708.00 6,350.00
2016-09-30 15,781.00 6,826.00 5,560.00
2016-06-30 15,078.00 6,736.00 4,651.00
2016-03-31 14,551.00 6,755.00 4,307.00
2015-12-31 14,424.00 6,697.00 4,270.00
2015-09-30 15,273.00 7,283.00 5,413.00
2015-06-30 15,291.00 7,370.00 5,476.00
2015-03-31 15,689.00 7,492.00 7,607.00
2014-12-31 14,983.00 7,835.00 7,435.00
2014-09-30 15,201.00 7,678.00 7,221.00
2014-06-30 15,379.00 7,740.00 7,175.00
2014-03-31 15,531.00 7,660.00 7,059.00
2013-12-31 15,236.00 8,394.00 4,525.00
2013-09-30 14,714.00 7,222.00 2,747.00
2013-06-30 14,373.00 7,224.00 2,799.00
2013-03-31 13,699.00 7,894.00 2,533.00
2012-12-31 13,638.00 7,394.00 2,829.00
2012-09-30 13,900.00 7,359.00 2,930.00
2012-06-30 15,812.00 5,445.00 5,037.00
2012-03-31 16,246.00 5,415.00 5,029.00
2011-12-31 15,867.00 5,491.00 8,733.00
2011-09-30 16,436.00 5,619.00 8,193.00
  • Bristol-Myers Squibb's level of debt (59.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (50.2% vs 59.5% today).
  • Debt is well covered by operating cash flow (68.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 235.1x coverage).
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Financial health checks
We assess Bristol-Myers Squibb's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bristol-Myers Squibb has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Bristol-Myers Squibb's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.57%
Current annual income from Bristol-Myers Squibb dividends. Estimated to be 2.68% next year.
If you bought $2,000 of Bristol-Myers Squibb shares you are expected to receive $51 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bristol-Myers Squibb's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.26%).
  • Bristol-Myers Squibb's dividend is below the markets top 25% of dividend payers in United States of America (3.3%).
Upcoming dividend payment

Purchase Bristol-Myers Squibb on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BMY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
United States of America Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1973 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.7%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.3%
United States of America Top 25% Dividend Yield 75th Percentile 3.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BMY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.79 3.00
2021-12-31 1.77 4.00
2020-12-31 1.66 10.00
2019-12-31 1.65 12.00
2018-12-31 1.62 12.00
NYSE:BMY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-09-12 1.600 2.616
2018-06-14 1.600 2.763
2018-03-01 1.600 2.829
2017-12-07 1.600 2.531
2017-09-13 1.560 2.486
2017-06-13 1.560 2.744
2017-03-02 1.560 2.847
2016-12-08 1.560 2.840
2016-08-03 1.520 2.741
2016-06-07 1.520 2.056
2016-03-03 1.520 2.233
2015-12-08 1.520 2.362
2015-09-17 1.480 2.302
2015-06-16 1.480 2.309
2015-03-02 1.480 2.251
2014-12-09 1.480 2.451
2014-09-16 1.440 2.646
2014-06-17 1.440 2.911
2014-03-03 1.440 2.848
2013-12-19 1.440 2.726
2013-09-17 1.400 2.804
2013-06-19 1.400 3.206
2013-03-07 1.400 3.327
2012-12-04 1.400 4.026
2012-09-18 1.360 4.112
2012-06-26 1.360 4.033
2012-03-06 1.360 4.062
2011-12-06 1.360 4.095
2011-09-20 1.320 4.160
2011-06-22 1.320 4.582
2011-03-01 1.320 4.810
2010-12-14 1.320 5.095
2010-09-07 1.280 4.795
2010-06-09 1.280 4.996
2010-03-02 1.280 5.139
2009-12-21 1.280 5.163
2009-09-09 1.240 5.313
2009-06-10 1.240 5.915
2009-03-03 1.240 6.169
2008-12-18 1.240 5.679
2008-09-23 1.240 6.221

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Bristol-Myers Squibb's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Bristol-Myers Squibb's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bristol-Myers Squibb afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bristol-Myers Squibb has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Bristol-Myers Squibb's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Giovanni Caforio, image provided by Google.
Giovanni Caforio
COMPENSATION $18,687,120
AGE 53
TENURE AS CEO 3.3 years
CEO Bio

Dr. Giovanni Caforio, M.D. serves as the Chief Executive Officer at Bristol-Myers Squibb Belgium NV/SA. Dr. Caforio has been the Chief Executive Officer of Bristol-Myers Squibb Farmacêutica Portuguesa, SA since May 05, 2015 and serves as its Director. Dr. Caforio serves as the Chief Executive Officer of Bristol-Myers Squibb Australia Pty Ltd. Dr. Caforio serves as Chief Operating Officer at Medarex, Inc. He has responsibility for leading a fully integrated worldwide commercial organization and Medarex-wide functions of Enterprise Services and Global Manufacturing & Supply. He has been the Chief Executive Officer of Bristol-Myers Squibb Company since May 05, 2015 and its Chairman since May 02, 2017. He served as Chief Operating Officer of Bristol-Myers Squibb Company from June 09, 2014 to May 05, 2015 and also served as its Chief Commercial Officer and Executive Vice President from November 13, 2013 to 2014. Dr. Caforio leads the Bristol-Myers Squibb Company's pharmaceutical business in the U.S. He served as Chief Commercial Officer at Medarex, Inc. Dr. Caforio served as the President of U.S. Pharmaceuticals at Bristol-Myers Squibb Company from October 2011 to November 2013. He served as Senior Vice President of U.S. Oncology, Worldwide Pharmaceuticals at Bristol-Myers Squibb Company from January 2007 to March 2009. He served as Senior Vice President of Global and U S Oncology at Bristol-Myers Squibb Company until October 2011 He served as Senior Vice President of Global Commercialization, Oncology and Immunology at Bristol-Myers Squibb from January 2011 to October 2011 and its Senior Vice President of Oncology, U.S. and Global Commercialization from March 2009 to May 2010, where he helped re-establish Bristol-Myers Squibb as a leader in Oncology, including the launch of YERVOY™, the Bristol-Myers Squibb's innovative immuno-oncology medicine for metastatic melanoma. As a leader, his focus is on developing talented leaders with the diverse experiences and competencies needed for the continued success of the Bristol-Myers Squibb Company. He joined Bristol-Myers Squibb in 2000 as Vice President and General Manager of Italy, in the Worldwide Medicines Group. In 2001, he assumed added responsibility for Greece and Israel and then all of South East Europe in 2003. From May 2004 to January 2007, he served as Senior Vice President of European Marketing and Brand Commercialization of Bristol-Myers Squibb. Since 2007, he served as Senior Vice President of U.S. Oncology of Bristol-Myers Squibb. Prior to joining Bristol-Myers Squibb, he spent 12 years with Abbott Laboratories in a number of leadership positions. He has been a Director of Bristol-Myers Squibb Company since June 09, 2014. He served as a Director of Capital Health System, Inc. until June 17, 2016. Dr. Caforio is a member of the Board of Trustees of the Pharmaceutical Research and Manufacturers of America (PhRMA). He serves as a Member of Executive Committee at National Pharmaceutical Council. Dr. Caforio holds an M.D. from the University of Rome.

CEO Compensation
  • Giovanni's compensation has been consistent with company performance over the past year.
  • Giovanni's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Bristol-Myers Squibb management team in years:

3.3
Average Tenure
57
Average Age
  • The tenure for the Bristol-Myers Squibb management team is about average.
Management Team

Giovanni Caforio

TITLE
Chairman of the Board & CEO
COMPENSATION
$19M
AGE
53
TENURE
3.3 yrs

Charlie Bancroft

TITLE
Executive VP of Global Business Operations & CFO
COMPENSATION
$9M
AGE
58
TENURE
8.4 yrs

Tom Lynch

TITLE
Executive VP of R&D & Chief Scientific Officer
COMPENSATION
$9M
AGE
57
TENURE
1.5 yrs

Sandy Leung

TITLE
Executive VP & General Counsel
COMPENSATION
$7M
AGE
57
TENURE
11.6 yrs

Joseph Caldarella

TITLE
Senior VP
AGE
62

Paul von Autenried

TITLE
Senior VP & Chief Information Officer
AGE
56
TENURE
11.7 yrs

John Elicker

TITLE
Senior Vice President of Corporate Affairs & Investor Relations
AGE
58
TENURE
1.7 yrs

Ann Judge

TITLE
Senior VP & Chief Human Resources Officer
AGE
52
TENURE
2.3 yrs

Lou Schmukler

TITLE
Senior VP and President of Global Product Development & Supply
AGE
62
TENURE
1.7 yrs

Jitendra Tyagi

TITLE
Head of US Drug Makers - India
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Bristol-Myers Squibb board of directors in years:

2.1
Average Tenure
60.5
Average Age
  • The average tenure for the Bristol-Myers Squibb board of directors is less than 3 years, this suggests a new board.
Board of Directors

Giovanni Caforio

TITLE
Chairman of the Board & CEO
COMPENSATION
$19M
AGE
53
TENURE
1.8 yrs

Vicki Sato

TITLE
Lead Independent Director
COMPENSATION
$365K
AGE
69
TENURE
1.3 yrs

Mike Grobstein

TITLE
Independent Director
COMPENSATION
$340K
AGE
75
TENURE
11.5 yrs

Bob Bertolini

TITLE
Independent Director
COMPENSATION
$277K
AGE
57
TENURE
1.6 yrs

Karen Vousden

TITLE
Director
AGE
60
TENURE
0.7 yrs

Alan Lacy

TITLE
Independent Director
COMPENSATION
$333K
AGE
64
TENURE
10.7 yrs

Jerry Storch

TITLE
Independent Director
COMPENSATION
$300K
AGE
61
TENURE
6.7 yrs

Dinesh Paliwal

TITLE
Independent Director
COMPENSATION
$293K
AGE
60
TENURE
5.2 yrs

Pete Arduini

TITLE
Independent Director
COMPENSATION
$311K
AGE
53
TENURE
2.4 yrs

Matt Emmens

TITLE
Independent Director
COMPENSATION
$296K
AGE
66
TENURE
1.6 yrs
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Bristol-Myers Squibb's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bristol-Myers Squibb has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Will Bristol-Myers Squibb Company (NYSE:BMY) Continue To Underperform Its Industry?

Bristol-Myers Squibb Company (NYSE:BMY) delivered a less impressive 3.25% ROE over the past year, compared to the 13.05% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into BMY's past performance. … View our latest analysis for Bristol-Myers Squibb

Simply Wall St -

What Are Analysts Saying About Bristol-Myers Squibb Company's (NYSE:BMY) Future Margins?

Bristol-Myers Squibb Company (NYSE:BMY) to … earnings growth of 19.62% annualised … it's necessary to take a moment

Simply Wall St -

Should You Worry About Bristol-Myers Squibb Company's (NYSE:BMY) CEO Salary Level?

Leading Bristol-Myers Squibb Company (NYSE:BMY) as the CEO, Giovanni Caforio took the company to a valuation of US$92.94b. … Recognizing whether CEO incentives are aligned with shareholders is a crucial part of investing. … Incentives can be in the form of compensation, which should always be structured in a way that promotes value-creation to shareholders.

Simply Wall St -

Interested In Bristol-Myers Squibb Company (NYSE:BMY)’s Upcoming US$0.40 Dividend? You Have 2 Days Left

Check out our latest analysis for Bristol-Myers Squibb … 5 questions to ask before buying a dividend stock … When researching a dividend stock, I always follow the following screening criteria:

Simply Wall St -

What You Must Know About Bristol-Myers Squibb Company's (NYSE:BMY) Financial Strength

Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Bristol-Myers Squibb Company (NYSE:BMY) a safer option. … This article will examine Bristol-Myers Squibb’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

Spotlight On Bristol-Myers Squibb Company's (NYSE:BMY) Fundamentals

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been able to sustain great financial health over the past

Simply Wall St -

Investors Are Undervaluing Bristol-Myers Squibb Company (NYSE:BMY) By 27.41%

Today, I will calculate the stock's intrinsic value. … by taking the expected future cash flows and discounting them to their present value. … If you are reading this and its not June 2018 then I highly recommend you check out the latest calculation for Bristol-Myers Squibb by following the link below.

Simply Wall St -

Bristol-Myers Squibb Company (NYSE:BMY): Are Forecast Margins sustainable?

To get a preliminary understanding, this article will interpret Bristol-Myers Squibb's margin performance so investors can evaluate the revenue and cost drivers behind future earnings projections and understand how they may impact on returns compared to the industry. … Margin Calculation for BMY Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 919.00 Million ÷ 21.04 Billion = 4.37% Bristol-Myers Squibb's margin has contracted in the past five years, as a result of postive average revenue growth of 0.12% and decline in net income of -0.35% on average, which suggests that a smaller percentage of revenue falls to the bottom line despite the fact revenue has increased over the previous 5 years. … But as a result of improved cost efficiency, net income growth is expected to exceed revenue growth, which is causing the expectation for margins to expand.

Simply Wall St -

Is Bristol-Myers Squibb Company (NYSE:BMY) A Great Dividend Stock?

In the past 10 years Bristol-Myers Squibb Company (NYSE:BMY) has returned an average of 4.00% per year to investors in the form of dividend payouts. … See our latest analysis for Bristol-Myers Squibb 5 checks you should use to assess a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is its annual yield among the top 25% of dividend-paying companies? … In terms of its peers, Bristol-Myers Squibb generates a yield of 3.06%, which is on the low-side for Pharmaceuticals stocks.Next Steps: Keeping in mind the dividend characteristics above, Bristol-Myers Squibb is definitely worth considering for investors looking to build a dedicated income portfolio.

Simply Wall St -

When Should You Buy Bristol-Myers Squibb Company (NYSE:BMY)?

Great news for investors – Bristol-Myers Squibb is still trading at a fairly cheap price. … Bristol-Myers Squibb’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … With a positive outlook on the horizon, it seems like this growth has not yet been fully factored into the share price.

Simply Wall St -

Company Info

Map
Description

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection. Its products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in atrial fibrillation and the prevention and treatment of venous thromboembolic disorders; Orencia, a biological product that targets adult patients with active rheumatoid arthritis and prostate-specific antigen; and Sprycel, a tyrosine kinase inhibitor for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia. The company’s products also comprise Yervoy, a monoclonal antibody for the treatment of adults and pediatric patients with unresectable or metastatic melanoma; Empliciti, a human monoclonal antibody for the treatment of multiple myeloma; Baraclude, a potent and selective inhibitor of the hepatitis B virus; Sustiva, a non-nucleoside reverse transcriptase inhibitor for HIV and bulk efavirenz; Reyataz, a protease inhibitor for the treatment of HIV and combination therapy Evotaz; Daklinza, an oral small molecule NS5A replication complex inhibitor for the treatment of hepatitis C virus (HCV); and Sunvepra, an oral small molecule for the treatment of HCV. It sells products to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. Bristol-Myers Squibb Company has a research partnership with Sirenas; and a collaboration agreement with Nektar Therapeutics, Illumina, Inc., Janssen Pharmaceuticals, Inc., and Advantagene, Inc., as well as Tsinghua University. The company was formerly known as Bristol-Myers Company and changed its name to Bristol-Myers Squibb Company in 1989. Bristol-Myers Squibb Company was founded in 1887 and is headquartered in New York, New York.

Details
Name: Bristol-Myers Squibb Company
BMY
Exchange: NYSE
Founded: 1887
$101,584,337,585
1,631,876,909
Website: http://www.bms.com
Address: Bristol-Myers Squibb Company
345 Park Avenue,
New York,
New York, 10154,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BMY Common Stock New York Stock Exchange US USD 02. Jan 1968
DB BRM Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA BRM Common Stock XETRA Trading Platform DE EUR 02. Jan 1968
LSE 0R1F Common Stock London Stock Exchange GB USD 02. Jan 1968
SWX BMY Common Stock SIX Swiss Exchange CH CHF 02. Jan 1968
BMV BMY * Common Stock Bolsa Mexicana de Valores MX MXN 02. Jan 1968
BOVESPA BMYB34 BDR EA REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
BASE BMY CEDEAR EACH REP 1 COM USD0.10 Buenos Aires Stock Exchange AR ARS 18. Mar 2009
Number of employees
Current staff
Staff numbers
23,700
Bristol-Myers Squibb employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/09/22 21:02
End of day share price update: 2018/09/21 00:00
Last estimates confirmation: 2018/09/14
Last earnings filing: 2018/07/26
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.