Financial statement analysis and common stock valuation

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Measures how efficiently Bristol-Myers Squibb Co. generates revenues from its investments in fixed or total assets.

• Long-term Activity Ratios (Summary)
• Net Fixed Asset Turnover
• Total Asset Turnover
• Equity Turnover

Enterprise Value to FCFF (EV/FCFF)

Free cash flow to the firm is the cash flow available to the Bristol-Myers Squibb Co. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made.

• Free Cash Flow to The Firm (FCFF)
• Interest Paid, Net of Tax
• EV to FCFF Ratio, Current
• EV to FCFF Ratio, Historical

Analysis of Solvency Ratios
Quarterly Data

Examines Bristol-Myers Squibb Co. capital structure in terms of the mix of its financing sources and the ability of the firm to satisfy its longer-term debt and investment obligations.

• Solvency Ratios (Summary)
• Debt to Equity
• Debt to Capital
• Debt to Assets
• Financial Leverage

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

An approach to decomposing Bristol-Myers Squibb Co. return on equity, return on assets, and net profit margin ratio as the product of other financial ratios.

• Two-Component Disaggregation of ROE
• Three-Component Disaggregation of ROE
• Two-Component Disaggregation of ROA

Balance Sheet: Assets

The assets reports major classes and amounts of resources owned or controlled by Bristol-Myers Squibb Co..

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Evaluates revenues and output generated by the Bristol-Myers Squibb Co. assets. Operating performance ratios describe the relationship between the Bristol-Myers Squibb Co. level of operations and the assets needed to sustain operating activities.

• Short-term Activity Ratios (Summary)
• Inventory Turnover
• Payables Turnover
• Working Capital Turnover
• Average Inventory Processing Period
• Average Payables Payment Period

Enterprise Value to EBITDA (EV/EBITDA)

To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.

• Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
• EV to EBITDA Ratio, Current
• EV to EBITDA Ratio, Historical

Analysis of Profitability Ratios
Quarterly Data

Measures the income of Bristol-Myers Squibb Co. relative to its revenues and invested capital.

• Profitability Ratios (Summary)
• Gross Profit Margin
• Operating Profit Margin
• Net Profit Margin
• Return on Equity (ROE)
• Return on Assets (ROA)

Analysis of Profitability Ratios

Measures the income of Bristol-Myers Squibb Co. relative to its revenues and invested capital.

• Profitability Ratios (Summary)
• Gross Profit Margin
• Operating Profit Margin
• Net Profit Margin
• Return on Equity (ROE)
• Return on Assets (ROA)

Price to FCFE (P/FCFE)

Free cash flow to equity is the cash flow available to Bristol-Myers Squibb Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.

• Free Cash Flow to Equity (FCFE)
• P to FCFE Ratio, Current
• P to FCFE Ratio, Historical

Analysis of Liquidity Ratios
Quarterly Data

Measures the adequacy of a Bristol-Myers Squibb Co. cash resources to meet its near-term cash obligations.

• Liquidity Ratios (Summary)
• Current Ratio
• Quick Ratio
• Cash Ratio

Common-Size Income Statement
Quarterly Data

Income statement components (revenues and expenses) shown as percentage of total sales.