Bristol-Myers Squibb Company (BMY) Fair Value & Analysis

Healthcare · US · Market cap $124B

A strong business, screening 18% undervalued on our models.

What matters now

• A fairly wide model range ($49.70 to $94.98) leaves room in how you read the outcome.
• Our model range runs from $49.70 (bear) to $94.98 (bull), base $75.98. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 82/100 (high quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $35.96 – $68.71 · fair‑value band $49.70 – $94.98 · the $64.15 price screens below the $75.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Bristol-Myers Squibb Company (BMY) currently trades at $64.15, while our model-based Fair Value estimate is $75.98, implying the stock looks roughly 18.4% undervalued today. We read business quality at 82/100 (high quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Bristol-Myers Squibb Company generated revenue of $48.5B at a net margin of 15.0%. Revenue grew 2.6% year over year. It earns a return on equity of 38.7%. Net debt stands at $36.9B. Fundamentals as of Jul 17, 2026

Our scenario range runs from $49.70 (bear case) to $94.98 (bull case); at $64.15, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 55% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -25% fair-value upside, at 18%, BMY screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models ($66.22) versus Asset-Based ($6.06). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bristol-Myers Squibb Company reported revenue of $48.2B in FY2025 versus $46.4B in FY2021, a compound +1.0%/yr. Reported net income was $7.1B in FY2025, compounding +0.2%/yr from FY2021.

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Peer Group

Drug Manufacturers - General · 75 stocks

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.

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.