Bristol Myers Squibb Co. (0R1F) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Bristol Myers Squibb Co. $90.10, price $61.05, upside +47.6%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $36.76 – $70.24 · fair‑value band $63.07 – $154.36 · the $61.05 price screens below the $90.10 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience.
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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience. The company's products include Opdivo for various anti-cancer indications; Opdivo Qvantig, a subcutaneous PD-1 inhibitor for solid tumorsr; Orencia for active rheumatoid arthritis and psoriatic arthritis; Yervoy for the treatment of unresectable or metastatic melanoma; Reblozyl to treat anemia; Breyanzi for the treatment of relapsed or refractory large B-cell lymphoma; Opdualag for the treatment of unresectable or metastatic melanoma; and Camzyos to treat symptomatic obstructive HCM. It also offers Zeposia to treat relapsing forms of multiple sclerosis; Abecma for the treatment of patients with relapsed or refractory multiple myeloma; Sotyktu for the treatment of moderate-to-severe plaque psoriasis; Krazati for the treatment of KRASG12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC); and Cobenfy to treat schizophrenia. In addition, it offers Eliquis for a reduction in risk of stroke/systemic embolism and for the treatment of DVT/PE; Revlimid, an oral immunomodulatory drug to treat multiple myeloma; Pomalyst/Imnovid for multiple myeloma; Sprycel for Philadelphia chromosome-positive chronic myeloid leukemia; and Abraxane for the treatment of breast cancer. Further, it provides Augtyro for the treatment of locally advanced or metastatic ROS1-positive NSCLC; and NSCLC and pancreatic cancer. It sells products to wholesalers, distributors, specialty pharmacies, retailers, hospitals, clinics, and government agencies. Bristol-Myers Squibb Company has a strategic collaboration with Arcus Biosciences, Inc. to develop a novel treatment regimen that delivers tumor control in kidney cancer. The company was formerly known as Bristol-Myers Company. The company was founded in 1887 and is headquartered in Princeton, New Jersey.
Stock analysis
Bristol Myers Squibb Co. (0R1F) currently trades at $61.05, while our model-based Fair Value estimate is $90.10, implying the stock looks roughly 32.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $112.40 per share, and 16 of the 25 models we run sit above the $61.05 price.
Bear case: the Asset-Based group reads lowest at $12.08, and 9 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: $63.07 (bear) to $154.36 (bull), the price of $61.05 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bristol Myers Squibb Co. reported revenue of $45.0B in FY2023 versus $26.1B in FY2019, a compound +14.5%/yr. Reported net income was $8.0B in FY2023, compounding +23.6%/yr from FY2019.
Key figures
Market cap $127B · P/E ratio 0.3 · P/S ratio 0.05 · EPS (TTM) $2.82 · Dividend yield 4.1% · Net margin 17.8% · Return on equity 46.6% · Return on assets (EBIT) 6.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −1% fair-value upside, at 48%, 0R1F screens cheaper than that median.
Fair Value models
Bear $63.07Fair Value $90.10Bull $154.36
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+18.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.0%
Dividend (yield on the price)4.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.0% vs 12.4%, steady
Profit margin 2018 to 2023 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 19%
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +1.4% a year for the price and −1.7% for the forecasts.
Compare Bristol Myers Squibb Co. with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - General · 73 stocks
Beats the industry median on 8/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+47.6% · Top 25%
Profitability
Return on equity (TTM)46.6% · Top 25%
Return on assets10.7% · Top 25%
Net margin (TTM)18.9% · Top 25%
Operating margin (TTM)34.4% · Top 25%
Growth and dividend
Revenue growth5.7% · Below median
Dividend yield (TTM)4.1% · Top 25%
Balance sheet
Debt / equity1.64× · Highest 25%
Valuation Multiplesvs Drug Manufacturers - General median · lower = cheaper
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Is Bristol Myers Squibb Co. (0R1F) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $90.10 versus a price of $61.05, about +48% upside (undervalued).
What is the fair value of 0R1F?
Our model-based fair value for Bristol Myers Squibb Co. is $90.10 (as of Sep 24, 2026), built from audited fundamentals. The current price: $61.05.
What is the quality score of 0R1F?
Bristol Myers Squibb Co. has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bristol Myers Squibb Co. (0R1F)?
Our model-based price target is the fair value of $90.10 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario $63.07, optimistic scenario $154.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Bristol Myers Squibb Co. stock forecast for 2026?
Our models put fair value at $90.10, about +48% upside versus a price of $61.05 (undervalued). Cautious scenario $63.07, optimistic scenario $154.36. The calculation is refreshed regularly with new filings.
What is the revenue of Bristol Myers Squibb Co. (0R1F)?
Bristol Myers Squibb Co. reported trailing-twelve-month revenue of about $49.2B (latest available figure, as of Sep 24, 2026).
Does Bristol Myers Squibb Co. pay a dividend?
Bristol Myers Squibb Co. currently shows a dividend yield of about 4.11% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Bristol Myers Squibb Co. (0R1F)?
For today's price to be fair in a discounted-cash-flow model, Bristol Myers Squibb Co. would have to grow free cash flow by +3.8 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0R1F use?
Our models discount Bristol Myers Squibb Co. at 9.0 %: a base by market capitalisation (unknown), damped by beta 0.23, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bristol Myers Squibb Co. that is +3.8 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Bristol Myers Squibb Co. (0R1F) delivered so far?
Over the past 5 years revenue at Bristol Myers Squibb Co. grew +14.8 % a year. The price currently implies +3.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bristol Myers Squibb Co. (0R1F) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into Bristol Myers Squibb Co. (+3.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bristol Myers Squibb Co. (0R1F)?
The free-cash-flow yield on the price is 7.53 %: that much free cash flow Bristol Myers Squibb Co. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bristol Myers Squibb Co. (0R1F)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bristol Myers Squibb Co. it is $90.10 per share (as of Sep 24, 2026), against a price of $61.05. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Bristol Myers Squibb Co. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0R1F trades below its calculated fair value: price $61.05, fair value $90.10, a gap of about +48% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0R1F?
No. The price is what the market pays today ($61.05); the fair value is what the company's own numbers justify ($90.10). For Bristol Myers Squibb Co. the two are $29.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bristol Myers Squibb Co. worth?
The market values Bristol Myers Squibb Co. at about $127B (market capitalisation, as of Sep 24, 2026). Per share that is $61.05; our models calculate a fair value of $90.10 per share.
What do the bullish and bearish scenarios say about 0R1F?
Our models span a range for Bristol Myers Squibb Co.: cautious scenario $63.07, base $90.10, optimistic $154.36 per share (as of Sep 24, 2026, price $61.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0R1F?
Bristol Myers Squibb Co. trades at a price-to-earnings ratio of 0.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $90.10 is built from several models across several years.
How solid is the balance sheet of Bristol Myers Squibb Co. (0R1F)?
Balance-sheet figures for Bristol Myers Squibb Co. (as of Sep 24, 2026): return on equity 46.6%, debt of 1.64 per unit of equity. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is 0R1F from its 52-week high?
Bristol Myers Squibb Co. trades at $61.05, about 10% below its 52-week high of $68.10 and 45% above the low of $42.10 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $90.10 is for.
Which stocks are comparable to Bristol Myers Squibb Co.?
From the same area (Healthcare) we also value Eli Lilly and Company, Johnson & Johnson,, AbbVie Inc, Roche Holding, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bristol Myers Squibb Co. stock attractive at the current price?
The data as of Sep 24, 2026: price $61.05, calculated fair value $90.10 (+48%), Quality Score 75/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0R1F calculated?
We run Bristol Myers Squibb Co. through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $90.10, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Bristol Myers Squibb Co. currently trades 32 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bristol Myers Squibb Co. (0R1F)?
The closing price on Oct 2, 2026 was $61.05. Our model-based fair value is $90.10, about +48% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bristol Myers Squibb Co. right now?
The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($63.07). The market is more pessimistic than our downside scenario. A fairly wide model range ($63.07 to $154.36) leaves room in how you read the outcome.
Where does the earnings growth of Bristol Myers Squibb Co. (0R1F) come from?
Earnings per share at Bristol Myers Squibb Co. grew +10.9 % a year from 2012 to 2023. Broken into its drivers: revenue per share +8.8 %, EBIT margin −1.1 %, tax rate −0.1 %, residual (interest, one-offs) +3.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bristol Myers Squibb Co.
How large is the market capitalisation of Bristol Myers Squibb Co. (0R1F)?
The market capitalisation of Bristol Myers Squibb Co. is $127B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bristol Myers Squibb Co. (0R1F)?
The price-to-sales ratio of Bristol Myers Squibb Co. is 0.05 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bristol Myers Squibb Co. (0R1F)?
Earnings per share at Bristol Myers Squibb Co. are $2.82 (price ÷ EPS = P/E 0.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bristol Myers Squibb Co. (0R1F)?
The dividend yield of Bristol Myers Squibb Co. is 4.1% (payout 88.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bristol Myers Squibb Co. (0R1F)?
The net margin of Bristol Myers Squibb Co. is 17.8% (fiscal year 2023). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bristol Myers Squibb Co. (0R1F)?
The return on equity (ROE) of Bristol Myers Squibb Co. is 46.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bristol Myers Squibb Co. (0R1F)?
On an EBIT basis the return on assets of Bristol Myers Squibb Co. is 6.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bristol Myers Squibb Co. (0R1F)?
The operating margin of Bristol Myers Squibb Co. is 34.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bristol Myers Squibb Co. (0R1F)?
Revenue at Bristol Myers Squibb Co. is growing +5.7% versus a year earlier (3y avg +1.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bristol Myers Squibb Co. (0R1F)?
Earnings per share at Bristol Myers Squibb Co. are growing +153% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bristol Myers Squibb Co. (0R1F) carry?
The net debt of Bristol Myers Squibb Co. is $29.9B (fiscal year 2023, ≈ 2.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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