Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Bristol-Myers Squibb Co., liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.43 | 1.25 | 1.52 | 1.58 | 1.60 | |
| Quick ratio | 1.04 | 0.87 | 1.20 | 1.28 | 1.26 | |
| Cash ratio | 0.55 | 0.42 | 0.78 | 0.83 | 0.84 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Bristol-Myers Squibb Co. current ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Bristol-Myers Squibb Co. quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Bristol-Myers Squibb Co. cash ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Current Ratio
Bristol-Myers Squibb Co., current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 31,770) | 27,273) | 33,262) | 30,192) | 29,354) | |
| Current liabilities | 22,262) | 21,890) | 21,868) | 19,080) | 18,304) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.43 | 1.25 | 1.52 | 1.58 | 1.60 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 0.96 | 0.79 | 0.84 | — | |
| Amgen Inc. | 1.65 | 1.41 | 1.59 | 1.81 | — | |
| Danaher Corp. | 1.68 | 1.89 | 1.43 | 1.86 | — | |
| Eli Lilly & Co. | 0.94 | 1.05 | 1.23 | 1.40 | — | |
| Gilead Sciences Inc. | 1.43 | 1.29 | 1.27 | 1.40 | 3.10 | |
| Johnson & Johnson | 1.16 | 0.99 | 1.35 | 1.21 | — | |
| Merck & Co. Inc. | 1.25 | 1.47 | 1.27 | 1.02 | 1.24 | |
| Pfizer Inc. | 0.91 | 1.22 | 1.40 | 1.35 | 0.88 | |
| Regeneron Pharmaceuticals Inc. | 5.69 | 5.06 | 3.56 | 3.63 | — | |
| Thermo Fisher Scientific Inc. | 1.75 | 1.48 | 1.50 | 2.13 | — | |
| Vertex Pharmaceuticals Inc. | 3.99 | 4.83 | 4.46 | 4.33 | 3.61 | |
| Current Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.27 | 1.30 | 1.36 | 1.37 | — | |
| Current Ratio, Industry | ||||||
| Health Care | 1.13 | 1.15 | 1.21 | 1.20 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 31,770 ÷ 22,262 = 1.43
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Bristol-Myers Squibb Co. current ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Quick Ratio
Bristol-Myers Squibb Co., quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 11,464) | 9,123) | 13,979) | 14,546) | 12,346) | |
| Marketable debt securities | 816) | 130) | 2,987) | 1,285) | 3,047) | |
| Receivables | 10,921) | 9,886) | 9,369) | 8,501) | 7,685) | |
| Total quick assets | 23,201) | 19,139) | 26,335) | 24,332) | 23,078) | |
| Current liabilities | 22,262) | 21,890) | 21,868) | 19,080) | 18,304) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.04 | 0.87 | 1.20 | 1.28 | 1.26 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.63 | 0.69 | 0.56 | 0.60 | — | |
| Amgen Inc. | 0.99 | 0.95 | 1.06 | 1.30 | — | |
| Danaher Corp. | 1.18 | 1.30 | 0.89 | 1.36 | — | |
| Eli Lilly & Co. | 0.52 | 0.63 | 0.80 | 0.85 | — | |
| Gilead Sciences Inc. | 1.06 | 0.99 | 0.95 | 1.08 | 2.86 | |
| Johnson & Johnson | 0.82 | 0.71 | 1.04 | 0.91 | — | |
| Merck & Co. Inc. | 0.68 | 0.93 | 0.73 | 0.58 | 0.78 | |
| Pfizer Inc. | 0.50 | 0.80 | 1.00 | 0.78 | 0.50 | |
| Regeneron Pharmaceuticals Inc. | 4.82 | 4.16 | 2.98 | 2.86 | — | |
| Thermo Fisher Scientific Inc. | 1.27 | 1.06 | 1.00 | 1.63 | — | |
| Vertex Pharmaceuticals Inc. | 3.60 | 4.46 | 4.04 | 4.02 | 3.33 | |
| Quick Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.85 | 0.91 | 0.98 | 0.98 | — | |
| Quick Ratio, Industry | ||||||
| Health Care | 0.82 | 0.86 | 0.89 | 0.89 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 23,201 ÷ 22,262 = 1.04
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Bristol-Myers Squibb Co. quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Cash Ratio
Bristol-Myers Squibb Co., cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 11,464) | 9,123) | 13,979) | 14,546) | 12,346) | |
| Marketable debt securities | 816) | 130) | 2,987) | 1,285) | 3,047) | |
| Total cash assets | 12,280) | 9,253) | 16,966) | 15,831) | 15,393) | |
| Current liabilities | 22,262) | 21,890) | 21,868) | 19,080) | 18,304) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.55 | 0.42 | 0.78 | 0.83 | 0.84 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.34 | 0.31 | 0.28 | 0.30 | — | |
| Amgen Inc. | 0.60 | 0.59 | 0.66 | 0.91 | — | |
| Danaher Corp. | 0.71 | 0.71 | 0.32 | 0.82 | — | |
| Eli Lilly & Co. | 0.11 | 0.13 | 0.26 | 0.29 | — | |
| Gilead Sciences Inc. | 0.64 | 0.57 | 0.56 | 0.65 | 2.50 | |
| Johnson & Johnson | 0.50 | 0.42 | 0.70 | 0.59 | — | |
| Merck & Co. Inc. | 0.28 | 0.54 | 0.34 | 0.30 | 0.47 | |
| Pfizer Inc. | 0.27 | 0.54 | 0.73 | 0.47 | 0.26 | |
| Regeneron Pharmaceuticals Inc. | 3.17 | 2.46 | 1.45 | 1.33 | — | |
| Thermo Fisher Scientific Inc. | 0.58 | 0.50 | 0.33 | 1.00 | — | |
| Vertex Pharmaceuticals Inc. | 3.16 | 3.93 | 3.51 | 3.55 | 2.85 | |
| Cash Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.47 | 0.52 | 0.58 | 0.59 | — | |
| Cash Ratio, Industry | ||||||
| Health Care | 0.42 | 0.47 | 0.50 | 0.51 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 12,280 ÷ 22,262 = 0.55
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Bristol-Myers Squibb Co. cash ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |