Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

Price to FCFE (P/FCFE) 

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Bristol-Myers Squibb Co., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net earnings (loss) attributable to BMS (8,948) 8,025 6,327 6,994 (9,015)
Noncontrolling interest 15 15 18 20 20
Net noncash charges 23,313 7,734 8,950 10,446 22,064
Changes in operating assets and liabilities 810 (1,914) (2,229) (1,253) 983
Net cash provided by operating activities 15,190 13,860 13,066 16,207 14,052
Capital expenditures (1,248) (1,209) (1,118) (973) (753)
Proceeds from issuance of short-term debt obligations 2,987
Repayments of short-term debt obligations (3,000)
Other short-term financing obligations, net 99 (120) 194 (160) (267)
Proceeds from issuance of long-term debt 12,883 4,455 5,926 6,945
Repayment of long-term debt (2,873) (3,879) (11,431) (6,022) (2,750)
Free cash flow to equity (FCFE) 24,038 13,107 6,637 9,052 17,227

Based on: 10-K (reporting date: 2024-12-31), 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).

Item Description The company
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. Bristol-Myers Squibb Co. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

Bristol-Myers Squibb Co., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 2,029,312,023
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 24,038
FCFE per share 11.85
Current share price (P) 60.02
Valuation Ratio
P/FCFE 5.07
Benchmarks
P/FCFE, Competitors1
AbbVie Inc. 14.45
Amgen Inc. 26.88
Danaher Corp. 40.42
Eli Lilly & Co. 61.60
Gilead Sciences Inc. 11.80
Johnson & Johnson 13.19
Merck & Co. Inc. 11.05
Pfizer Inc. 53.39
Regeneron Pharmaceuticals Inc. 18.91
Thermo Fisher Scientific Inc. 38.34
Vertex Pharmaceuticals Inc.
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 19.86
P/FCFE, Industry
Health Care 18.31

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Bristol-Myers Squibb Co., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 2,029,312,023 2,022,193,411 2,098,775,978 2,179,712,820 2,240,475,153
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 24,038 13,107 6,637 9,052 17,227
FCFE per share3 11.85 6.48 3.16 4.15 7.69
Share price1, 4 56.15 48.71 72.25 67.14 60.00
Valuation Ratio
P/FCFE5 4.74 7.52 22.85 16.17 7.80
Benchmarks
P/FCFE, Competitors6
AbbVie Inc. 13.57 17.37 22.66 18.76 13.16
Amgen Inc. 25.50 4.71 8.32 13.52 11.06
Danaher Corp. 40.83 53.08 32.04 20.75 44.62
Eli Lilly & Co. 64.93 75.06 60.51 35.17 36.62
Gilead Sciences Inc. 12.07 12.81 15.22 12.70 5.98
Johnson & Johnson 12.67 24.31 16.73 23.28 15.60
Merck & Co. Inc. 11.32 24.48 22.40 18.72 17.85
Pfizer Inc. 55.28 3.82 10.56 8.88
Regeneron Pharmaceuticals Inc. 21.27 26.52 19.29 10.35 13.30
Thermo Fisher Scientific Inc. 41.23 31.16 27.98 13.44 18.58
Vertex Pharmaceuticals Inc. 33.45 19.91 26.08 18.46
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 19.99 16.91 19.28 16.49 17.09
P/FCFE, Industry
Health Care 18.23 16.85 18.12 17.81 17.23

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 24,038,000,000 ÷ 2,029,312,023 = 11.85

4 Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 56.15 ÷ 11.85 = 4.74

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Bristol-Myers Squibb Co. P/FCFE ratio decreased from 2022 to 2023 and from 2023 to 2024.