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Bristol-Myers Squibb Co BMY

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Stock XNYS Rating as of
$50.45 +5.18 (11.44%)
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Company Report

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Bristol-Myers Earnings: Revlimid Drives Strong Results and Several New Drugs Post Solid Gains

Damien Conover

We are holding steady to our $63 Bristol-Myers fair value estimate following second-quarter results that ran above our expectations. However, with most of the outperformance stemming from cancer drug Revlimid, we don’t expect the impact to last long as generic pressures will likely increase over the next 12 months. We believe the market is undervaluing Bristol’s new products that are showing increasing potential and should help reinforce the firm’s wide moat.

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Price vs Fair Value

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BMY is trading at a 697% premium.
Price
$50.45
Fair Value
$95.00
Uncertainty
Medium
1-Star Price
$75.78
5-Star Price
$88.10
Economic Moat
Jyqlk
Capital Allocation
Wgmhtnxpt

Bulls Say, Bears Say

Bulls

Bristol is launching several new cancer and immunology drugs that can have high sales trajectories, given the high unmet medical need.

Bears

The acquisition of Celgene brought generic competition for cancer drug Revlimid in 2022, setting up a major growth obstacle over several years, given the planned staggered generic entry.

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News

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Trading Information

Previous Close Price
$45.27
Day Range
$47.73–50.61
52-Week Range
$39.35–63.41
Bid/Ask
$50.14 / $50.23
Market Cap
$102.27 Bil
Volume/Avg
36.6 Mil / 15.9 Mil

Key Statistics

Price/Earnings (Normalized)
6.58
Price/Sales
2.21
Dividend Yield (Trailing)
4.70%
Dividend Yield (Forward)
4.76%
Total Yield
8.61%

Company Profile

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. Bristol derives close to 70% of total sales from the U.S., showing a higher dependence on the U.S. market than most of its peer group.
Sector
Healthcare
Industry
Drug Manufacturers - General
Stock Style Box
Large Value
Total Number of Employees
34,100
Website
https://www.bms.com

Competitors

Valuation

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Metric
BMY
LLY
MRK
Price/Earnings (Normalized)
 6.5886.0557.72
Price/Book Value
 6.0156.557.86
Price/Sales
 2.2120.235.19
Price/Cash Flow
 6.7784.0818.27
Price/Earnings
BMY
LLY
MRK

Financial Strength

Metric
BMY
LLY
MRK
Quick Ratio
 0.940.680.68
Current Ratio
 1.161.351.25
Interest Coverage
 −3.1614.113.97
Quick Ratio
BMY
LLY
MRK

Profitability

Metric
BMY
LLY
MRK
Return on Assets (Normalized)
 5.65%11.20%5.22%
Return on Equity (Normalized)
 21.60%57.69%13.56%
Return on Invested Capital (Normalized)
 9.24%20.65%8.29%
Return on Assets
BMY
LLY
MRK
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Drug Manufacturers - General Industry Comparables

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1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Eli Lilly and Co
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SgbwffysPyrjm$386.7 Bil
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ABBV
QynxjwncYrm$327.0 Bil
 Merck & Co Inc
MRK
MqnwydgbtJpfcp$317.3 Bil
 Roche Holding AG ADR
RHHBY
MvzygvwnDmmhn$261.9 Bil
 AstraZeneca PLC ADR
AZN
MkcydpqxjFpsm$242.7 Bil
 Novartis AG ADR
NVS
FcdbrgcjdZghz$224.0 Bil
 Amgen Inc
AMGN
GvlhpgzyrcFkp$179.6 Bil
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PFE
YhrsbyhwBgfz$174.4 Bil
 Sanofi SA ADR
SNY
ZmcpvgrrMjxr$132.4 Bil

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