Stock Analysis on Net
Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

Bristol-Myers Squibb Co., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net earnings (loss) attributable to BMS1 ÷ Total BMS shareholders’ equity1
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 31, 2014 = 100 × ÷
Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷
Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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), 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$ in millions

The financial data reveals substantial fluctuations in net earnings attributable to Bristol-Myers Squibb Co. over the analyzed period. Initially, the company experienced relatively stable earnings ranging between $1,500 million and $3,000 million from 2005 through 2007. A significant increase is observed in 2008 and 2009, with earnings more than doubling to over $10,000 million in 2009. However, earnings declined sharply after 2009, with considerable volatility marked by swings between profits and losses in subsequent years. Notably, net earnings turned negative in 2020 and again in 2024, indicating periods of considerable financial challenge.

Total shareholders’ equity demonstrated a general upward trend from 2005 through 2015, increasing from approximately $11,200 million to over $16,000 million. From 2016 onward, there was a marked rise peaking dramatically at over $51,000 million in 2019. Thereafter, equity declined steadily from 2020 through 2024, dropping to approximately $16,300 million. This pattern suggests a period of aggressive equity growth followed by a significant contraction in recent years.

The return on equity (ROE) data aligns closely with the observed earnings volatility. ROE was robust in the early years, peaking at 71.49% in 2009, corresponding to the peak in net earnings for that year. Subsequent years show a pronounced decline and variability, with ROE dropping as low as 6.66% in 2019 and turning negative to -23.84% in 2020, consistent with the net losses reported. Although ROE recovered somewhat in 2021 to over 27%, it again experienced a sharp decline to a negative -54.78% in 2024, reflecting the company’s fluctuating profitability relative to shareholders’ equity.

Overall, the company’s financial performance over this period was characterized by periods of strong profitability and equity growth, interrupted by sharp downturns in earnings and equity values in recent years. Such volatility is reflected in the corresponding fluctuations of ROE, underscoring challenges in sustaining consistent returns on shareholders' investments.

Net Earnings Trends
Marked by initial stability, a significant peak in 2009, followed by volatility with alternating profits and losses, and net losses in 2020 and 2024.
Total Shareholders’ Equity Trends
General upward trend until 2015; rapid increase peaking in 2019; notable decline from 2020 through 2024.
Return on Equity Trends
High ROE peaking in 2009, followed by declines and volatility; negative ROE in 2020 and 2024 reflecting losses; recovery attempts in intermittent years.
Overall Financial Insights
Periods of strong growth and profitability interrupted by significant market or operational challenges resulting in earnings volatility and equity contractions.

Comparison to Competitors

Bristol-Myers Squibb Co., ROE, long-term trends, comparison to competitors

Microsoft Excel
Bristol-Myers Squibb Co. AbbVie Inc. Amgen Inc. Danaher Corp. Eli Lilly & Co. Gilead Sciences Inc. Johnson & Johnson Merck & Co. Inc. Pfizer Inc. Regeneron Pharmaceuticals Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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), 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., ROE, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Bristol-Myers Squibb Co. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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), 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)

Bristol-Myers Squibb Co., ROE, long-term trends, comparison to industry (health care)

Microsoft Excel
Bristol-Myers Squibb Co. Health Care
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
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Dec 31, 2012
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Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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), 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).