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Bristol-Myers Squibb Co. (NYSE:BMY)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Bristol-Myers Squibb Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2026 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
Short-term debt obligations 1.17 2.67 2.51 4.65 4.98 3.85 2.21 1.15 3.73 6.25 3.28 5.99 3.23 2.92 4.40 2.17 4.94 7.30 4.53 4.57 2.40 1.58
Accounts payable 4.74 4.90 3.97 4.43 5.73 4.33 3.89 3.70 3.96 3.57 3.42 3.08 3.28 3.39 3.14 2.64 2.87 2.86 2.70 2.43 3.26 2.64
Other current liabilities 15.38 14.59 19.53 19.96 18.36 17.87 19.57 19.31 16.89 16.25 16.69 16.64 15.04 13.94 15.07 14.46 13.03 11.99 12.78 12.35 11.49 11.19
Current liabilities 21.29% 22.15% 26.01% 29.04% 29.08% 26.04% 25.67% 24.17% 24.58% 26.07% 23.39% 25.71% 21.55% 20.24% 22.61% 19.28% 20.84% 22.15% 20.00% 19.35% 17.14% 15.41%
Deferred income taxes 0.25 0.24 0.25 0.23 0.26 0.30 0.40 0.46 0.49 0.45 0.36 0.44 0.80 1.66 2.24 2.93 3.02 3.70 4.12 4.47 4.45 4.66
Long-term debt, excluding current portion 48.03 48.74 47.59 45.90 46.97 49.94 51.41 51.96 51.62 49.97 38.52 35.21 37.07 37.21 36.21 37.65 36.97 36.35 36.23 35.78 38.36 39.58
Other non-current liabilities 4.95 5.61 5.60 5.63 5.22 4.84 4.83 5.05 5.28 6.80 6.75 6.80 6.31 7.07 6.81 6.81 6.62 7.09 6.71 6.78 6.77 6.84
Non-current liabilities 53.24% 54.60% 53.44% 51.76% 52.45% 55.08% 56.63% 57.47% 57.38% 57.22% 45.62% 42.45% 44.19% 45.94% 45.25% 47.39% 46.61% 47.14% 47.06% 47.03% 49.58% 51.08%
Total liabilities 74.53% 76.75% 79.45% 80.80% 81.53% 81.12% 82.30% 81.64% 81.97% 83.29% 69.02% 68.16% 65.74% 66.18% 67.86% 66.66% 67.46% 69.29% 67.06% 66.38% 66.72% 66.49%
Preferred stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock 0.33 0.34 0.32 0.30 0.31 0.32 0.32 0.31 0.31 0.29 0.31 0.32 0.31 0.31 0.30 0.30 0.29 0.28 0.27 0.26 0.26 0.26
Capital in excess of par value of stock 53.07 53.63 51.52 47.75 48.73 49.78 49.70 49.00 48.35 46.10 48.01 49.14 48.45 47.88 46.65 45.78 44.22 42.47 40.58 39.94 39.77 39.00
Accumulated other comprehensive loss -1.47 -1.58 -1.69 -1.56 -1.64 -1.54 -1.34 -1.57 -1.54 -1.41 -1.62 -1.41 -1.48 -1.45 -1.32 -0.86 -0.99 -1.19 -1.16 -1.28 -1.37 -1.37
Retained earnings 23.18 21.15 18.77 17.64 17.06 17.43 16.10 17.18 17.01 15.79 30.23 30.92 29.36 28.18 26.34 25.13 24.13 23.24 21.79 20.40 20.01 19.75
Cost of treasury stock -49.64 -50.32 -48.40 -44.99 -46.04 -47.17 -47.14 -46.63 -46.16 -44.12 -45.99 -47.20 -42.44 -41.16 -39.89 -37.08 -35.17 -34.15 -28.60 -25.77 -25.45 -24.19
Total BMS shareholders’ equity 25.47% 23.21% 20.52% 19.15% 18.42% 18.81% 17.64% 18.30% 17.98% 16.65% 30.93% 31.77% 34.20% 33.75% 32.08% 33.27% 32.48% 30.65% 32.88% 33.56% 33.22% 33.45%
Noncontrolling interest 0.00 0.04 0.04 0.05 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.07 0.06 0.07 0.06 0.06 0.06 0.06 0.05 0.06 0.06 0.06
Total equity 25.47% 23.25% 20.55% 19.20% 18.47% 18.88% 17.70% 18.36% 18.03% 16.71% 30.98% 31.84% 34.26% 33.82% 32.14% 33.34% 32.54% 30.71% 32.94% 33.62% 33.28% 33.51%
Total liabilities and equity 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% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 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).

The capital structure exhibits a significant shift in leverage and equity composition, particularly beginning in the first quarter of 2024. Throughout 2021 to 2023, the company maintained a relatively stable balance between liabilities and equity, with total liabilities fluctuating between 65% and 69%. However, a sharp transition occurs in March 2024, where total liabilities increase to 83.29%, while total equity drops to 16.71%. Although a gradual recovery in equity is observed through June 2026, the overall leverage remains higher than the 2021-2023 baseline.

Liability Composition and Debt Trends
A substantial increase in long-term debt is observed, rising from approximately 38.52% in December 2023 to a peak of 51.96% in September 2024. This expansion in long-term borrowing is the primary driver behind the increased total liabilities. Current liabilities also show an upward trajectory, growing from 15.41% in March 2021 to a peak of 29.08% in June 2024, before moderating to 21.29% by June 2026. Notably, deferred income taxes experienced a precipitous decline, falling from 4.66% in early 2021 to negligible levels below 0.30% from 2024 onwards.
Equity Dynamics and Shareholder Value
Total equity experienced a sharp contraction in the first quarter of 2024, falling from 30.98% in December 2023 to 16.71%. This decline is closely linked to a significant increase in the cost of treasury stock, which expanded from -24.19% in March 2021 to a low of -50.32% in December 2025, suggesting an aggressive share repurchase strategy. Retained earnings showed a steady climb from 19.75% in March 2021 to 30.92% in September 2023, followed by a sharp drop to 15.79% in March 2024, and a subsequent gradual recovery to 23.18% by June 2026.
Capital Contributions and Other Components
Capital in excess of par value demonstrates a consistent upward trend for much of the period, increasing from 39.00% in March 2021 to 53.07% by June 2026. This indicates a growth in contributed capital relative to the total balance sheet. Other non-current liabilities remained relatively stable throughout the analysis period, fluctuating within a narrow range between 4.83% and 7.09%.

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