Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Current Valuation Ratios
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. | Pharmaceuticals, Biotechnology & Life Sciences | Health Care | ||||
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Selected Financial Data | |||||||||||||||||
Current share price (P) | |||||||||||||||||
No. shares of common stock outstanding | |||||||||||||||||
Earnings per share (EPS) | |||||||||||||||||
Operating profit per share | |||||||||||||||||
Sales per share | |||||||||||||||||
Book value per share (BVPS) | |||||||||||||||||
Valuation Ratios (Price Multiples) | |||||||||||||||||
Price to sales (P/S) | |||||||||||||||||
Price to book value (P/BV) |
Based on: 10-K (reporting date: 2024-12-31).
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)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Price to earnings (P/E) | ||||||
Price to operating profit (P/OP) | ||||||
Price to sales (P/S) | ||||||
Price to book value (P/BV) |
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).
The financial ratios over the analyzed periods depict notable fluctuations, reflecting changes in market valuation relative to earnings, profits, sales, and book value.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows an increasing trend from 20.92 in 2021 to 23.97 in 2022, indicating that the market valued the company's earnings higher in 2022 compared to 2021. Subsequently, there is a marked decline to 12.27 in 2023, suggesting either an increase in earnings or a decrease in stock price relative to earnings. The data for 2020 and 2024 is missing, limiting full trend analysis over all years.
- Price to Operating Profit (P/OP) Ratio
- This ratio decreases steadily from 19.84 in 2021 to 18.29 in 2022, and further to 13.53 in 2023. This downward trend suggests improving operating profitability relative to the market price or a declining market price relative to operating profit over the period, indicating better value for shareholders in terms of operating profit.
- Price to Sales (P/S) Ratio
- The P/S ratio remains stable at 3.16 from 2020 to 2021, slightly increasing to 3.29 in 2022, followed by a significant decrease to 2.19 in 2023. A modest recovery to 2.36 occurs in 2024. The initial increase implies heightened market valuation relative to revenues, whereas the subsequent drop reflects reduced market expectations or improved sales revenue relative to price.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio increases from 3.55 in 2020 to a peak of 4.88 in 2022, indicating growing market valuation over the company's net asset value during this period. However, it declines sharply to 3.35 in 2023 before rising substantially to 6.98 in 2024. The significant increase in 2024 suggests heightened investor confidence or a change in book value dynamics, potentially reflecting asset revaluation or market repricing.
Overall, the data indicates a general fluctuation in market valuation multiples, with a notable decrease in valuation ratios in 2023 followed by recovery or increase in some ratios by 2024. The decline in P/E and P/OP in 2023 could reflect improved profitability or market adjustment, whereas the recovery of P/BV in 2024 suggests renewed investor optimism or changes in the company's asset base.
Price to Earnings (P/E)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | ||||||
Selected Financial Data (US$) | ||||||
Net earnings (loss) attributable to BMS (in millions) | ||||||
Earnings per share (EPS)2 | ||||||
Share price1, 3 | ||||||
Valuation Ratio | ||||||
P/E ratio4 | ||||||
Benchmarks | ||||||
P/E Ratio, Competitors5 | ||||||
AbbVie Inc. | ||||||
Amgen Inc. | ||||||
Danaher Corp. | ||||||
Eli Lilly & Co. | ||||||
Gilead Sciences Inc. | ||||||
Johnson & Johnson | ||||||
Merck & Co. Inc. | ||||||
Pfizer Inc. | ||||||
Regeneron Pharmaceuticals Inc. | ||||||
Thermo Fisher Scientific Inc. | ||||||
Vertex Pharmaceuticals Inc. | ||||||
P/E Ratio, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | ||||||
P/E Ratio, Industry | ||||||
Health Care |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
EPS = Net earnings (loss) attributable to BMS ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a general upward trend from 60 US$ at the end of 2020 to a peak of 72.25 US$ by the end of 2022. However, this was followed by a notable decline to 48.71 US$ in 2023, before slightly rebounding to 56.15 US$ in 2024. This pattern indicates some volatility, with the price falling significantly after 2022 but not returning to its previous lows by 2024.
- Earnings per Share (EPS)
- EPS showed substantial fluctuations over the five-year period. Beginning with a negative value of -4.02 US$ in 2020, it rose sharply to positive territory at 3.21 US$ in 2021. EPS remained relatively stable through 2022 and 2023, at 3.01 US$ and 3.97 US$ respectively, indicating consistent profitability in this interval. In contrast, the figure reverted sharply to a negative -4.41 US$ in 2024, demonstrating a significant downturn in earnings during the latest period.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio data is partially available. It stood at 20.92 in 2021 and increased slightly to 23.97 in 2022, corresponding to the EPS turning positive. The ratio then dropped considerably to 12.27 in 2023, coinciding with a lower share price and increased earnings per share. The absence of P/E data for 2020 and 2024 suggests either negative or undefined values, likely due to negative EPS in those years.
Price to Operating Profit (P/OP)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | ||||||
Selected Financial Data (US$) | ||||||
Operating income (loss) (in millions) | ||||||
Operating profit per share2 | ||||||
Share price1, 3 | ||||||
Valuation Ratio | ||||||
P/OP ratio4 | ||||||
Benchmarks | ||||||
P/OP Ratio, Competitors5 | ||||||
AbbVie Inc. | ||||||
Amgen Inc. | ||||||
Danaher Corp. | ||||||
Eli Lilly & Co. | ||||||
Gilead Sciences Inc. | ||||||
Johnson & Johnson | ||||||
Merck & Co. Inc. | ||||||
Pfizer Inc. | ||||||
Regeneron Pharmaceuticals Inc. | ||||||
Thermo Fisher Scientific Inc. | ||||||
Vertex Pharmaceuticals Inc. | ||||||
P/OP Ratio, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | ||||||
P/OP Ratio, Industry | ||||||
Health Care |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price showed a generally upward trend from 2020 through 2022, increasing from 60 US$ in 2020 to a peak of 72.25 US$ in 2022. However, this was followed by a marked decline in 2023 to 48.71 US$, before partially recovering to 56.15 US$ in 2024. The fluctuation suggests volatility in market perception and valuation during this period.
- Operating Profit Per Share
- Operating profit per share demonstrated considerable variability and some instability over the years. It started with a negative value of -4.1 US$ in 2020, shifted to a positive trend in 2021 and 2022 with values of 3.38 US$ and 3.95 US$ respectively, and remained positive but slightly decreased to 3.6 US$ in 2023. However, in 2024, the figure dramatically dropped back to negative territory at -3.69 US$, signaling a significant deterioration in operating profitability.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio was not available for 2020 and 2024 but showed a declining trend from 19.84 in 2021 to 18.29 in 2022, and further down to 13.53 in 2023. This reduction indicates that the share price relative to operating profit per share was decreasing, which could reflect changing investor expectations or adjustments in company valuation metrics in light of operational performance.
Price to Sales (P/S)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | ||||||
Selected Financial Data (US$) | ||||||
Revenues (in millions) | ||||||
Sales per share2 | ||||||
Share price1, 3 | ||||||
Valuation Ratio | ||||||
P/S ratio4 | ||||||
Benchmarks | ||||||
P/S Ratio, Competitors5 | ||||||
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. | ||||||
P/S Ratio, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | ||||||
P/S Ratio, Industry | ||||||
Health Care |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price experienced an upward trend from 60 US$ in 2020 to a peak of 72.25 US$ in 2022. However, it declined sharply in 2023 to 48.71 US$ and showed a moderate recovery in 2024 to 56.15 US$.
- Sales per Share
- Sales per share demonstrated a consistent year-over-year increase throughout the observed period, rising from 18.98 US$ in 2020 to 23.8 US$ in 2024. This indicates steady growth in revenue generated per share.
- Price-to-Sales (P/S) Ratio
- The P/S ratio remained relatively stable around 3.16 from 2020 to 2021 and slightly increased to 3.29 in 2022. Subsequently, it declined noticeably to 2.19 in 2023 and rebounded slightly to 2.36 in 2024. This trend suggests that the market valuation relative to sales contracted significantly in 2023 with partial recovery thereafter.
Price to Book Value (P/BV)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | ||||||
Selected Financial Data (US$) | ||||||
Total BMS shareholders’ equity (in millions) | ||||||
Book value per share (BVPS)2 | ||||||
Share price1, 3 | ||||||
Valuation Ratio | ||||||
P/BV ratio4 | ||||||
Benchmarks | ||||||
P/BV Ratio, Competitors5 | ||||||
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. | ||||||
P/BV Ratio, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | ||||||
P/BV Ratio, Industry | ||||||
Health Care |
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
BVPS = Total BMS shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited an initial upward trend from US$60 in 2020 to a peak of US$72.25 in 2022. This was followed by a substantial decline to US$48.71 in 2023. In 2024, the price partially recovered to US$56.15, remaining below the 2022 high but above the 2023 low.
- Book Value Per Share (BVPS)
- Book value per share demonstrated a continuous downward trend over the analyzed period. Starting at US$16.88 in 2020, it showed modest decreases in the initial years, reaching US$14.55 by 2023. The decline became more pronounced in 2024, with BVPS dropping sharply to US$8.05, representing a significant reduction in the company's net asset value per share.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio initially increased from 3.55 in 2020 to 4.88 in 2022, indicating investors were willing to pay a higher premium over book value, possibly reflecting positive market sentiment or growth expectations. In 2023, the ratio fell to 3.35, in line with the decrease in share price. However, in 2024, the ratio surged sharply to 6.98, the highest in the period observed. This spike occurred despite a partial recovery in share price but was primarily driven by the steep decline in book value per share, suggesting increased market valuation relative to the company’s net assets.