Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel LibreOffice Calc

Current Valuation Ratios

Bristol-Myers Squibb Co., current price multiples

Microsoft Excel LibreOffice Calc
Bristol-Myers Squibb Co. Abbott Laboratories Anthem Inc. Becton, Dickinson & Co. CVS Health Corp. Danaher Corp. Edwards Lifesciences Corp. HCA Healthcare Inc. Intuitive Surgical Inc. Medtronic PLC Stryker Corp. UnitedHealth Group Inc. Health Care Equipment & Services Health Care
Selected Financial Data
Current share price (P) $64.93
No. shares of common stock outstanding 2,219,644,935
 
Earnings per share (EPS) $-4.06
Operating profit per share $-4.14
Sales per share $19.16
Book value per share (BVPS) $17.04
Valuation Ratios (Price Multiples)
Price to sales (P/S) 3.39 6.55 0.91 3.68 0.52 9.41 16.83 1.55 25.22 4.85 7.01 1.73 2.15 3.32
Price to book value (P/BV) 3.81 6.91 3.31 3.15 2.02 5.27 16.14 139.74 11.30 2.84 7.69 6.74 4.87 6.32

Based on: 10-K (reporting date: 2020-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Bristol-Myers Squibb Co., historical price multiples

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Price to earnings (P/E) 41.99 16.81 103.55 20.56
Price to operating profit (P/OP) 24.42 16.16 28.87 19.79
Price to sales (P/S) 3.16 5.52 3.67 5.02 4.72
Price to book value (P/BV) 3.55 2.80 5.89 8.88 5.66

Based on: 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).

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Bristol-Myers Squibb Co. P/S ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Bristol-Myers Squibb Co. P/BV ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

Price to Earnings (P/E)

Bristol-Myers Squibb Co., historical P/E calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
No. shares of common stock outstanding1 2,240,475,153 2,257,510,796 1,632,675,877 1,632,582,502 1,672,715,340
Selected Financial Data (US$)
Net earnings (loss) attributable to BMS (in millions) (9,015) 3,439  4,920  1,007  4,457 
Earnings per share (EPS)2 -4.02 1.52 3.01 0.62 2.66
Share price1, 3 60.00 63.97 50.65 63.87 54.78
Valuation Ratio
P/E ratio4 41.99 16.81 103.55 20.56
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 48.49 41.83 56.47 220.29 55.16
Anthem Inc. 15.87 15.96 21.45 15.44 17.48
Becton, Dickinson & Co. 86.01 65.09 408.36 49.63 36.65
CVS Health Corp. 12.88 14.15 10.69 14.91
Danaher Corp. 44.49 38.34 29.77 27.25 23.02
Edwards Lifesciences Corp. 66.48 46.05 51.14 48.16 33.48
HCA Healthcare Inc. 16.06 14.30 12.84 15.92 11.00
Intuitive Surgical Inc. 87.47 48.72 53.03 70.95 37.16
Medtronic PLC 26.30 28.78 37.80 29.96 33.17
Stryker Corp. 57.72 39.24 18.96 54.36 27.92
UnitedHealth Group Inc. 20.54 20.48 21.09 20.77 21.73
P/E Ratio, Sector
Health Care Equipment & Services 38.06 26.82 29.27 27.92 23.23
P/E Ratio, Industry
Health Care 32.78 22.47 25.66 30.91 21.33

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 2020 Calculation
EPS = Net earnings (loss) attributable to BMS ÷ No. shares of common stock outstanding
= -9,015,000,000 ÷ 2,240,475,153 = -4.02

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

4 2020 Calculation
P/E ratio = Share price ÷ EPS
= 60.00 ÷ -4.02 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

Bristol-Myers Squibb Co., historical P/OP calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
No. shares of common stock outstanding1 2,240,475,153 2,257,510,796 1,632,675,877 1,632,582,502 1,672,715,340
Selected Financial Data (US$)
Operating income (loss) (in millions) (9,185) 5,913  5,118  3,612  4,630 
Operating profit per share2 -4.10 2.62 3.13 2.21 2.77
Share price1, 3 60.00 63.97 50.65 63.87 54.78
Valuation Ratio
P/OP ratio4 24.42 16.16 28.87 19.79
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 40.69 34.03 36.64 60.88 24.25
Anthem Inc. 12.10 13.55 15.87 14.81 9.36
Becton, Dickinson & Co. 44.46 40.02 43.37 34.59 25.02
CVS Health Corp. 6.65 7.83 18.65 7.44 7.65
Danaher Corp. 36.91 34.47 23.18 22.48 21.37
Edwards Lifesciences Corp. 60.98 42.04 49.37 25.66 25.38
HCA Healthcare Inc. 8.31 6.93 6.88 5.82 5.11
Intuitive Surgical Inc. 88.37 48.89 49.87 44.40 28.93
Medtronic PLC 26.29 21.26 17.64 22.64 22.18
Stryker Corp. 41.52 30.13 26.55 24.21 21.23
UnitedHealth Group Inc. 14.12 14.40 14.58 14.42 11.79
P/OP Ratio, Sector
Health Care Equipment & Services 24.53 18.40 18.84 17.72 14.11
P/OP Ratio, Industry
Health Care 23.35 18.19 18.66 17.23 14.59

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 2020 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= -9,185,000,000 ÷ 2,240,475,153 = -4.10

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

4 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 60.00 ÷ -4.10 =

5 Click competitor name to see calculations.


Price to Sales (P/S)

Bristol-Myers Squibb Co., historical P/S calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
No. shares of common stock outstanding1 2,240,475,153 2,257,510,796 1,632,675,877 1,632,582,502 1,672,715,340
Selected Financial Data (US$)
Revenues (in millions) 42,518  26,145  22,561  20,776  19,427 
Sales per share2 18.98 11.58 13.82 12.73 11.61
Share price1, 3 60.00 63.97 50.65 63.87 54.78
Valuation Ratio
P/S ratio4 3.16 5.52 3.67 5.02 4.72
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 6.30 4.83 4.37 3.84 3.70
Anthem Inc. 0.60 0.74 0.88 0.67 0.51
Becton, Dickinson & Co. 3.85 4.07 4.06 4.23 2.87
CVS Health Corp. 0.35 0.37 0.39 0.38 0.45
Danaher Corp. 7.01 6.29 3.97 3.70 3.48
Edwards Lifesciences Corp. 12.48 11.09 9.92 8.18 6.43
HCA Healthcare Inc. 1.17 0.98 1.04 0.81 0.77
Intuitive Surgical Inc. 21.29 15.01 16.06 14.97 10.11
Medtronic PLC 4.36 4.36 3.92 4.06 4.07
Stryker Corp. 6.43 5.49 4.95 4.46 4.06
UnitedHealth Group Inc. 1.24 1.18 1.12 1.10 0.83
P/S Ratio, Sector
Health Care Equipment & Services 1.71 1.65 1.58 1.50 1.29
P/S Ratio, Industry
Health Care 2.71 2.54 2.52 2.47 2.26

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 2020 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= 42,518,000,000 ÷ 2,240,475,153 = 18.98

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

4 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 60.00 ÷ 18.98 = 3.16

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Bristol-Myers Squibb Co. P/S ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.

Price to Book Value (P/BV)

Bristol-Myers Squibb Co., historical P/BV calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
No. shares of common stock outstanding1 2,240,475,153 2,257,510,796 1,632,675,877 1,632,582,502 1,672,715,340
Selected Financial Data (US$)
Total Bristol-Myers Squibb Company shareholders’ equity (in millions) 37,822  51,598  14,031  11,741  16,177 
Book value per share (BVPS)2 16.88 22.86 8.59 7.19 9.67
Share price1, 3 60.00 63.97 50.65 63.87 54.78
Valuation Ratio
P/BV ratio4 3.55 2.80 5.89 8.88 5.66
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 6.65 4.96 4.38 3.40 3.76
Anthem Inc. 2.19 2.42 2.82 2.24 1.72
Becton, Dickinson & Co. 2.78 3.34 3.09 3.95 4.69
CVS Health Corp. 1.33 1.47 1.29 1.88 2.15
Danaher Corp. 3.93 3.72 2.80 2.58 2.56
Edwards Lifesciences Corp. 11.97 11.62 11.76 9.51 7.28
HCA Healthcare Inc. 105.40
Intuitive Surgical Inc. 9.53 8.13 8.96 9.91 4.73
Medtronic PLC 2.48 2.66 2.31 2.40 2.25
Stryker Corp. 7.05 6.38 5.74 5.56 4.82
UnitedHealth Group Inc. 4.83 4.92 4.89 4.59 3.98
P/BV Ratio, Sector
Health Care Equipment & Services 3.89 3.66 3.67 3.78 3.39
P/BV Ratio, Industry
Health Care 5.16 4.90 4.86 4.52 4.09

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 2020 Calculation
BVPS = Total Bristol-Myers Squibb Company shareholders’ equity ÷ No. shares of common stock outstanding
= 37,822,000,000 ÷ 2,240,475,153 = 16.88

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

4 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 60.00 ÷ 16.88 = 3.55

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Bristol-Myers Squibb Co. P/BV ratio decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.