Analysis of Inventory
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Debt to Equity since 2005
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Inventory Disclosure
Bristol-Myers Squibb Co., balance sheet: inventory
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work in process | |||||||||||
| Raw and packaging materials | |||||||||||
| Inventories |
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).
The analysis of the inventory-related financial data over the five-year period reveals several notable trends. Total inventories experienced a decline from 2020 through 2022, decreasing from 3,154 million USD in 2020 to 2,823 million USD in 2022. This reduction was primarily driven by declines in finished goods inventory, which dropped sharply from 932 million USD in 2020 to 509 million USD in 2022, and a moderate reduction in work in process from 2,015 million USD in 2020 to 1,850 million USD in 2022. Raw and packaging materials, however, showed an upward trend during the same period, increasing from 207 million USD in 2020 to 464 million USD in 2022.
Beginning in 2023 and extending into 2024, inventories and their components generally reversed the earlier downward trend, growing significantly. Inventories rose to 3,568 million USD in 2023 and continued increasing to 4,126 million USD in 2024. Finished goods inventory displayed the most substantial recovery, more than doubling from the 2022 low of 509 million USD to 1,257 million USD by the end of 2024. Work in process also increased steadily during this period, reaching 2,549 million USD in 2024. Raw and packaging materials, after peaking at 475 million USD in 2023, declined somewhat to 320 million USD in 2024.
Overall, the data suggest a strategic adjustment or operational shift occurring post-2022, resulting in higher inventory levels, particularly in finished goods and work in process categories. The growth in finished goods inventory may indicate increased production output or a buildup in anticipation of higher sales demand. The fluctuation in raw and packaging materials, rising initially but then decreasing in the final year, could reflect adjustments in procurement or supply chain management to optimize inventory holding. The trends highlight a dynamic inventory management environment responding to varying operational or market conditions over the analyzed timeframe.