Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Bristol-Myers Squibb Co., P/S, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

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


The price-to-sales (P/S) ratio for the period examined exhibits considerable fluctuation. Initially, the ratio demonstrates an increase from 2006 to 2007, followed by a decline in 2008. Subsequent years show a period of relative stability before a notable increase beginning in 2012, peaking in 2014, and then decreasing again.

Initial Period (2006-2008)
The P/S ratio increased from 2.34 in 2006 to 3.07 in 2007, indicating investors were willing to pay more for each dollar of sales. However, this trend reversed in 2008, with the ratio falling to 2.30. This suggests a potential shift in investor sentiment or a reassessment of the company’s growth prospects.
Stability and Growth (2009-2014)
From 2009 through 2011, the P/S ratio remained relatively stable, fluctuating between 1.96 and 2.27. A significant increase is then observed from 2012 to 2014, rising from 2.63 to a peak of 6.28. This period likely reflects positive market perception, potentially driven by strong performance or anticipated future growth. The increase in share price outpaced the growth in sales per share during this timeframe.
Recent Fluctuations (2015-2026)
Following the 2014 peak, the P/S ratio experienced a decline to 4.72 in 2017. It then showed some recovery, but remained below the 2014 high. From 2019 to 2021, the ratio fluctuated, with a notable spike to 5.52 in 2020, followed by a decrease to 3.16 in both 2021 and 2022. The most recent years, 2023 through 2026, show a continued downward trend, reaching 2.53 in 2026. This suggests a potential cooling of investor enthusiasm or concerns regarding future sales growth relative to the share price. The sales per share has generally increased over this period, but the share price has not kept pace, resulting in the lower P/S ratio.

Overall, the P/S ratio demonstrates a cyclical pattern with periods of growth, stability, and decline. The most recent trend indicates a decreasing ratio, which warrants further investigation into the underlying factors affecting both share price and sales performance.


Comparison to Competitors

Bristol-Myers Squibb Co., P/S, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Bristol-Myers Squibb Co., P/S, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Health Care)