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BRISTOL MYERS SQUIBB COBMY

Sector
Healthcare
Industry
Pharmaceutical Preparations
Exchange
NYSE

Stock Price $BMY

Latest filings

You are here#14 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K169

BMY filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 169 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Deal closed8-K · Nov ’19Nov ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $48.19B
YoY changeLargest recent move+62.6%in FY20Latest −0.2%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All BMY Financial Metrics62 metrics

Income Statement16

Balance Sheet27

Cash Flow14

Per Share5

02—Overview

BRISTOL MYERS SQUIBB CO Financial Overview 2021–2025

Updated Jul 10, 2026

Bristol Myers Squibb endured a brutal profitability swing, with earnings per share plunging to $-4.41 in FY2024 before rebounding to a positive $3.46a in FY2025. This stark recovery underscores a fundamental transition period as the biopharmaceutical giant aggressively manages the loss of exclusivity on established blockbuster drugs while funding its next generation of oncology and immunology therapies.

Despite heavy patent-cliff headwinds and continuous portfolio restructuring, baseline profitability has shown underlying resilience. Over the broader timeframe, earnings per share grew from $3.12 in FY2021 to $3.46b in FY2025. To support this pipeline transition and optimize its capital structure, the company executed a sweeping $7 billion cash tender offer in Q4 2025 to buy back outstanding notes. This massive debt restructuring was primarily funded by a new €5.00 billion public offering of senior unsecured notes, locking in interest rates between 2.973% and 4.581% across maturities stretching from 2030 to 2055.

The market's reaction to this portfolio overhaul and capital reallocation remains measured. At the close of FY2025, the stock traded at $53.94c, commanding a price-to-earnings multiple of 15.6x. This valuation reflects a continuous balance between the successful integration of recent acquisitions and the ongoing pressure to replace aging revenue streams with newly launched therapeutic assets.

Recent Developments (Q4 2025 and Q1 2026)

During Q1 2026, Bristol Myers Squibb focused heavily on pipeline expansion and licensing agreements to offset impending patent cliffs. In early May 2026, shareholders elected all 11 director nominees to serve until the 2027 Annual Meeting and approved a new 2026 stock award and incentive plan, signaling strong confidence in the executive team. A shareholder proposal to establish an independent board chairperson was concurrently rejected.

Bulls argue the company's aggressive research and development investments will successfully yield next-generation blockbuster therapies. Bears counter that ongoing pricing constraints and fierce industry competition could severely limit the commercial success of these crucial assets. As of the April 30, 2026 reporting date, the stock traded at $60.59d, carrying a valuation of 17.5x trailing earnings.

What to watch: clinical milestones for ongoing research programs; potential strategic acquisitions to bolster the broader therapeutic portfolio

03—Filings

Recent SEC Filings

  1. 8-KBRISTOL MYERS SQUIBB CO 8-K Report, Financial Results (Jul 30, 2026)Bristol Myers Squibb reported second-quarter 2026 results that beat the company's trajectory and raised full-year guidance. Total revenues rose 6% (5% ex-FX) to $13.0 billion, led by the Growth Portfolio, which grew 15% (14% ex-FX) to $7.6 billion on strength in Opdivo Qvantig, Reblozyl, Camzyos, Breyanzi and Opdualag. The Legacy Portfolio declined 4% to $5.4 billion, with Eliquis demand growth (up 22%) offsetting generic erosion from Revlimid, Pomalyst and others. Eliquis is now a key bright spot, with management guiding to 20%-25% worldwide growth for 2026. Profitability was mixed. GAAP EPS was $1.62 versus $0.64 a year ago, helped by the absence of last year's $1.5 billion acquired IPR&D charge and lower acquired-intangible amortization. Non-GAAP EPS was $2.04, up 40%. Gross margin slipped about 120 basis points on both bases due to product mix, and R&D rose 15% on a GAAP basis, driven by a priority review voucher purchase and higher IPR&D impairments. Net debt narrowed to about $31.7 billion from $34.0 billion at year-end 2025. Management raised 2026 guidance: revenue to roughly $49.0-$50.0 billion (from $46.0-$47.5 billion), non-GAAP diluted EPS to $6.75-$7.00 (from $6.05-$6.35), and operating expenses to about $16.5 billion. Gross margin, other expense and tax rate guidance were unchanged. Investors should note that guidance excludes future acquired IPR&D charges and licensing income, and that the 8-K's own forward-looking statements flag pricing pressure, generic competition and pipeline risk.
  2. 8-KBRISTOL MYERS SQUIBB CO 8-K Report, Shareholder Vote Results (May 8, 2026)Bristol Myers Squibb Company (BMY) held its Annual Meeting of Shareholders on May 5, 2026, as detailed in this 8-K filing. The meeting saw decisive votes on key corporate governance and executive matters. All 11 director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board's leadership and strategy. Furthermore, shareholders provided advisory approval for the compensation of named executive officers and ratified the company's 2026 stock award and incentive plan, signaling support for the company's incentive structures. Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2026 received overwhelming ratification. However, a shareholder proposal advocating for an independent board chairperson was not approved, suggesting that the current governance structure, where the roles may be combined or held by a non-independent director, remains favored by the majority of shareholders at this time. Overall, the results reflect robust shareholder support for BMY's management, operational plans, and existing governance framework.
  3. 8-KBRISTOL MYERS SQUIBB CO 8-K Report, Financial Results (Apr 30, 2026)Bristol Myers Squibb reported first-quarter 2026 results on April 30, 2026. Total revenues rose 3% (+1% ex-FX) to $11.5 billion, driven by the Growth Portfolio, which grew 12% (+9% ex-FX) to $6.2 billion on Camzyos, Breyanzi and Reblozyl. The Legacy Portfolio fell 6% (8% ex-FX) to $5.3 billion, as Eliquis demand gains (+16%) were more than offset by generic erosion from Revlimid, Pomalyst and Sprycel. GAAP EPS was $1.31 (up 9%), while non-GAAP EPS fell 12% to $1.58, largely because royalty income on diabetes products expired at the end of 2025 and the non-GAAP effective tax rate rose to 18.3% from 15.1%. Non-GAAP gross margin compressed about 280 bps to 70.3%, reflecting product mix. GAAP results were helped by a $410 million IPRD impairment charge in R&D, which was excluded from non-GAAP figures. Management reaffirmed full-year 2026 guidance of $46.0–$47.5 billion in revenue and non-GAAP EPS of $6.05–$6.35, and said both are trending toward the upper end of the ranges. Eliquis worldwide revenue is still guided to grow 10–15% in 2026, and the Legacy Portfolio is expected to decline 12–16%. The quarter also included regulatory and data milestones: Sotyktu received FDA approval for psoriatic arthritis, Opdivo was approved for Hodgkin lymphoma, and the company reported positive Phase 3 data for mezigdomide and Camzyos in adolescents. Net debt was $33.6 billion at quarter-end, down from $34.0 billion at year-end 2025, and about $5 billion of share repurchase authorization remained. Investors will be watching the 2026 pipeline readouts and the delivery of the remaining $2 billion in cost savings by the end of 2027.
  4. 8-KBRISTOL MYERS SQUIBB CO 8-K Report, Financial Results (Feb 5, 2026)Bristol Myers Squibb reported fourth-quarter and full-year 2025 results on February 5, 2026. Q4 total revenue rose 1% to $12.5 billion (flat ex-FX), with the Growth Portfolio up 16% to $7.4 billion, offset by a 15% decline in the Legacy Portfolio to $5.1 billion as Revlimid and Pomalyst generic erosion continued. Full-year revenue was $48.2 billion, essentially flat reported and down 1% ex-FX, while the Growth Portfolio grew 17% to $26.4 billion, led by Breyanzi, Camzyos, Reblozyl, Opdivo, and the immuno-oncology franchise. Eliquis demand grew, but this was more than offset by Legacy erosion and higher U.S. government channel rebates. Profitability was distorted by Acquired IPRD charges and licensing income. GAAP EPS was $0.53 for Q4 and $3.46 for the year, versus non-GAAP EPS of $1.26 and $6.15, respectively. Both measures include a net $(0.60) per-share hit in Q4 and $(1.40) for the year from IPRD charges, primarily the Orbital Therapeutics acquisition. Non-GAAP operating expenses fell as the strategic productivity initiative took hold, and amortization of acquired intangibles dropped sharply as Revlimid amortization rolls off. Net debt improved to $34.0 billion from $38.5 billion, and management says it achieved its targeted ~$10 billion debt paydown ahead of schedule. For 2026, BMS guided to revenue of approximately $46.0 to $47.5 billion, implying a Legacy decline of roughly 12% to 16%, and non-GAAP EPS of $6.05 to $6.35. Worldwide Eliquis revenue is expected to grow 10% to 15%. The company also raised its quarterly dividend 1.6% to $0.63 per share, its 17th consecutive annual increase. Management emphasized that 2026 is data-heavy, with several pivotal readouts expected in the second half, including milvexian AF and stroke trials, Cobenfy Alzheimer's psychosis trials, and mezigdomide and iberdomide in multiple myeloma.
  5. 8-KBRISTOL MYERS SQUIBB CO 8-K Report, Regulation FD Disclosure (Jan 12, 2026)Bristol Myers Squibb (BMY) furnished an investor presentation under Item 7.01 (Regulation FD) on January 12, 2026, timed to the 44th Annual J.P. Morgan Healthcare Conference, where CEO Christopher Boerner presented under the theme "Built for Growth." The filing contains no new financial results, guidance changes, or material transactions; it is a strategic update. The central message is management's goal of building a financially strong company with industry-leading sustainable growth into the 2030s, supported by a 2025 record of 17% growth in its Growth Portfolio (nine months ended 9/30/25 vs. prior year), four Growth Portfolio assets each annualizing over $1 billion based on Q3 2025 revenue, and completed business development deals. The presentation's main investor catalysts are its pipeline timeline. Management expects a dense slate of registrational readouts in 2026, including milvexian in atrial fibrillation (LIBREXIA-AF) and secondary stroke prevention, admilparant in IPF, iberdomide progression-free survival in RRMM, mezigdomide in RRMM, arlo-cel in 4L+ multiple myeloma, and RYZ101 in GEP-NETs. Management also highlighted a target of roughly 10+ new product launch opportunities by 2030, and capital allocation priorities of reinvesting in the business (R&D, AI) and returning capital, citing about $14.5B in dividends and about $8B in share repurchases over the past three years, plus 94 consecutive years of dividend payments. Investors should treat the presentation as forward-looking management commentary rather than audited results. It carries standard safe-harbor language flagging risks including drug pricing and most-favored-nation policy, patent exclusivity, clinical and regulatory timing, and legal proceedings. Pipeline timelines and multi-billion-dollar potential estimates are subject to trial outcomes and regulatory approval, so the key forward test is whether the 2026 readouts deliver on schedule.
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04—See also

Related Companies

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