Stock Analysis on Net
Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

Common-Size Balance Sheet: Assets 
Quarterly Data

Bristol-Myers Squibb Co., common-size consolidated balance sheet: assets (quarterly data)

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Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 11.07 11.34 16.23 13.31 11.77 11.17 8.42 6.65 9.42 12.05 8.23 8.96 9.54 9.42 7.88 10.71 12.00 12.79 12.21 9.95 9.77
Marketable debt securities 1.05 0.52 0.80 1.06 0.98 0.55 0.22 0.38 0.34 0.86 0.19 0.38 0.29 0.13 1.32 2.47 2.52 2.73 1.91 1.76 1.73
Receivables 10.83 12.68 11.79 12.06 11.69 11.61 11.77 12.07 10.55 11.48 11.29 10.82 10.66 10.21 9.79 9.02 8.26 8.57 8.34 8.14 7.70
Inventories 3.19 2.99 2.85 2.89 2.88 2.76 3.56 3.25 3.01 2.80 2.67 2.53 2.76 2.42 2.11 2.13 2.04 1.92 1.95 1.93 1.74
Other current assets 5.32 5.12 5.11 5.77 5.99 6.07 6.00 6.06 5.62 6.21 7.90 7.35 5.47 5.99 6.19 5.74 4.40 4.42 3.94 4.55 3.17
Current assets 31.46% 32.64% 36.77% 35.09% 33.31% 32.16% 29.97% 28.41% 28.95% 33.39% 30.28% 30.03% 28.73% 28.17% 27.29% 30.08% 29.23% 30.43% 28.35% 26.32% 24.11%
Property, plant and equipment 8.86 8.38 7.58 7.79 7.80 7.71 7.37 7.23 6.82 6.98 7.10 6.80 6.66 6.46 6.15 5.95 5.87 5.53 5.29 5.23 5.13
Goodwill 25.14 24.16 22.44 23.00 23.52 23.45 23.22 22.96 21.95 22.25 23.17 22.64 22.45 21.84 21.50 20.37 19.90 18.76 18.50 18.53 18.25
Other intangible assets 21.10 21.22 21.12 22.58 24.33 25.17 28.79 31.09 33.08 28.45 31.72 33.48 35.61 37.04 38.88 37.56 38.92 38.90 40.52 43.38 45.20
Deferred income taxes 5.99 5.97 5.12 4.91 4.32 4.57 3.85 3.51 2.75 2.91 1.66 1.68 1.40 1.39 1.35 1.33 1.38 1.32 0.62 0.59 0.71
Marketable debt securities 0.42 0.44 0.42 0.37 0.37 0.35 0.35 0.38 0.37 0.38 0.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.13 0.26
Other non-current assets 7.04 7.19 6.54 6.27 6.35 6.59 6.45 6.41 6.08 5.64 5.71 5.37 5.16 5.10 4.83 4.71 4.70 5.06 6.68 5.83 6.35
Non-current assets 68.54% 67.36% 63.23% 64.91% 66.69% 67.84% 70.03% 71.59% 71.05% 66.61% 69.72% 69.97% 71.27% 71.83% 72.71% 69.92% 70.77% 69.57% 71.65% 73.68% 75.89%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

A systemic shift in asset composition is observed over the analyzed period, characterized by a gradual increase in the proportion of current assets relative to non-current assets. Current assets rose from 24.11% of total assets in March 2021 to 31.46% by March 2026, indicating an increase in short-term liquidity and a reduction in the relative weight of long-term holdings.

Liquidity and Working Capital Trends
Cash and cash equivalents exhibit significant volatility, fluctuating between a low of 6.65% in June 2024 and a peak of 16.23% in September 2025. Despite this volatility, the overall trend indicates a higher average cash position toward the end of the period compared to the beginning. Receivables demonstrate a consistent upward trajectory, increasing from 7.70% in March 2021 to 10.83% in March 2026, suggesting a growing proportion of capital tied up in outstanding customer payments. Inventories also show a steady rise, nearly doubling from 1.74% to 3.19% over the timeframe.
Intangible Asset Recomposition
The most substantial change in the balance sheet is the decline in other intangible assets, which plummeted from 45.20% in March 2021 to 21.10% in March 2026. This sharp decrease is partially offset by a steady increase in goodwill, which rose from 18.25% to 25.14%. This pattern typically reflects the amortization of acquired intangible assets over time alongside the addition of new goodwill from strategic acquisitions.
Fixed Assets and Long-Term Obligations
Property, plant, and equipment (PPE) show a continuous increase as a percentage of total assets, moving from 5.13% in March 2021 to 8.86% in March 2026, indicating expanded investment in physical infrastructure. Simultaneously, deferred income taxes have increased significantly, rising from 0.71% to 5.99%, reflecting changes in the company's long-term tax positioning.
Overall Asset Structure Shift
Non-current assets, which dominated the balance sheet at 75.89% in March 2021, declined to 68.54% by March 2026. The contraction is driven primarily by the reduction in amortizable intangible assets, while the increase in current assets and PPE suggests a shift toward a more liquid and physically asset-heavy balance sheet structure.

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