Published
{
"ticker": "BMY",
"cik": "0000014272",
"company": "Bristol-Myers Squibb Company",
"business_type": "pharmaceutical",
"schema_template": "standard (revenue / cost of products sold / gross profit / pre-tax earnings / net earnings), extended with the revenue disaggregation by product and region that the company reports",
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"FY2025 10-K consolidated statements of cash flows": "Dollars in millions",
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"Q2 2026 10-Q consolidated statements of cash flows": "Dollars in millions (unaudited)",
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"net_cash_provided_by_used_in_financing_activities": -11709000000,
"dividends_paid": -5095000000,
"free_cash_flow": 11440000000
}
},
"notes": [
"Sources. Every figure comes from one of two filings: Bristol-Myers Squibb's FY2025 Form 10-K for the year ended December 31, 2025 (accession 0000014272-26-000004, filed February 11, 2026) and its Form 10-Q for the quarter ended June 30, 2026 (accession 0000014272-26-000020, filed July 30, 2026). Each period below names the filing it was taken from.",
"Periods these filings present, and therefore the periods reported here. The 10-K's statements of earnings and of cash flows print three years (2025, 2024 and 2023); its balance sheet prints two dates (December 31, 2025 and December 31, 2024), so FY2023 carries an income statement and a cash flow statement but no balance sheet. The 10-Q's statement of earnings prints four columns: the three months and the six months ended June 30, 2026 and the same two periods a year earlier. The three-month columns are the two quarterly entries; the six-month columns are the year-to-date views. The 10-Q's balance sheet prints June 30, 2026 and December 31, 2025 \u2014 the June 30, 2026 balance sheet sits with the Q2 2026 quarter and the December 31, 2025 one is the FY2025 annual balance sheet, so it is not repeated.",
"Business and reporting template. Bristol-Myers Squibb is a global biopharmaceutical company and states in both filings that it operates in a single segment, with the chief executive officer using consolidated net earnings to allocate resources. The standard income statement, balance sheet and cash flow template therefore fits it, and it is extended with the revenue disaggregation by product and by region that the company itself publishes, because individual brands drive a pharmaceutical company's revenue.",
"Gross profit is calculated here, not printed by the company: total revenues less cost of products sold. The statements of earnings carry a footnote stating that cost of products sold excludes amortization of acquired intangible assets, which the company reports on its own line further down. Gross profit as stated here is therefore before that amortization.",
"Total debt is calculated here as short-term debt obligations plus long-term debt, the two debt captions the balance sheet prints. Free cash flow is calculated as net cash provided by operating activities less capital expenditures. Neither is a measure the company reports.",
"No three-month cash flow figures. The 10-Q presents its statement of cash flows for the six months ended June 30, 2026 and 2025 only \u2014 it prints no three-month column \u2014 and the second-quarter earnings release furnished the same day (accession 0000014272-26-000018) presents no cash flow statement either. Cash flow is therefore reported in the six-month and trailing-twelve-month views, and the two quarterly entries carry none.",
"The trailing-twelve-months view covers July 1, 2025 through June 30, 2026 and is derived: FY2025 plus the six months ended June 30, 2026, less the six months ended June 30, 2025. It is arithmetic on columns the two filings print, not a period the company reports. Diluted earnings per share and a diluted share count are left out of that view because no weighted-average share count for that twelve-month window is published.",
"Rounding. Both filings state that amounts may not sum due to rounding and that percentages are calculated from unrounded figures. A few subtotals consequently differ by $1 million from the sum of their parts as printed: at December 31, 2025 total liabilities of $71,533 million plus total equity of $18,506 million come to $90,039 million against total assets of $90,038 million; for the six months ended June 30, 2026, revenues of $24,462 million less expenses of $17,137 million come to $7,325 million against printed pre-tax earnings of $7,326 million. Figures are reported as printed rather than forced to add up.",
"FY2024's pre-tax loss of $8,379 million and net loss attributable to the company of $8,948 million reflect $13,373 million of acquired in-process research and development expense and $8,872 million of amortization of acquired intangible assets that year, against $3,721 million and $3,317 million respectively in FY2025.",
"Line-item naming. Beginning in 2025 the company renamed the income statement caption \"Marketing, Selling and Administrative\" to \"Selling, General and Administrative\", stating in the 10-K's accounting policies note that the definition did not change. The note describes a change of caption only, not a restatement of any figure.",
"Revenue by product: the two filings print slightly different line sets. Abecma is a separate line in the 10-K's product table, where it is a Growth Portfolio product included within Total Growth Portfolio, and is included within \"Other Growth products\" in the 10-Q's, so it appears on the annual periods only. The \"Other revenue\" line in the product table, which the 10-Q describes as revenue hedging activities in 2026, appears on the 2026 periods only. In both filings the product and region tables are the company's own disaggregation of the same total revenues, and individual lines can differ from their subtotal by $1 million on the rounding described above.",
"Cash dividends declared per common share come from the equity notes: $2.49 in 2025, $2.42 in 2024 and $2.31 in 2023 from the 10-K, and $0.63 for each of the first and second quarters of 2026 and $0.62 for each of the first and second quarters of 2025 from the 10-Q. Dividends paid in the cash flow statement are a separate, cash-basis figure.",
"No adjustments were needed. The company reports in U.S. dollars, so no currency translation was applied; it is a domestic filer rather than an American depositary receipt issuer, so no per-share ratio conversion applies; and it has had no stock split, so per-share figures are comparable across every period here.",
"All amounts in this record are in actual dollars. Both filings state their dollar tables in millions and their share counts in millions, and those scales have been applied; per-share amounts are in dollars per share as printed."
],
"uncertainties": [
"No cash flow figures are reported for the second quarter of 2026 or the second quarter of 2025 on their own. The 10-Q's statement of cash flows covers the six months only, and no three-month cash flow column is published anywhere in the filing or in the second-quarter earnings release, so a quarterly operating cash flow, capital expenditure or free cash flow figure could not be sourced rather than guessed at.",
"No first-quarter entries. The 10-Q prints three-month columns for the second quarter only, so the first quarter of 2026 and of 2025 are not presented as income statement columns and are not reported here.",
"Gross profit, total debt and free cash flow are calculated from printed lines rather than reported by the company, as described in the notes. Readers comparing these against the company's own commentary should note in particular that gross profit here is struck before amortization of acquired intangible assets.",
"The trailing-twelve-months view is derived arithmetic, not a reported period, and it inherits the filings' rounding: its pre-tax earnings of $11,910 million are the sum of the reported columns, while its revenues less its expenses come to $11,909 million.",
"In the 10-Q's revenue-by-region table for the three months ended June 30, 2025, the United States, International and Other lines as printed total $12,270 million against printed total revenues of $12,269 million. Both are reported as printed.",
"The 10-Q's management discussion also presents non-GAAP earnings measures that add back specified items \u2014 $4,172 million of non-GAAP net earnings and $2.04 of non-GAAP diluted earnings per share for the second quarter of 2026, against $3,317 million and $1.62 on a reported basis. Only the reported figures the financial statements present are carried in this record."
],
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Revenue",
"format": "usd",
"value": 12973000000,
"text": "$12.97 billion",
"exact": "$12,973,000,000",
"compact": "$12.97B",
"abs": "$12.97 billion",
"prior_value": 12269000000,
"prior": "$12.27 billion",
"priorabs": "$12.27 billion",
"yoy": "up 5.7%",
"source": {
"array": "quarterly",
"field": "income_statement.total_revenues",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
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"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
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"gap_days": 365
}
},
{
"label": "Net earnings",
"format": "usd",
"value": 3317000000,
"text": "$3.32 billion",
"exact": "$3,317,000,000",
"compact": "$3.32B",
"abs": "$3.32 billion",
"prior_value": 1310000000,
"prior": "$1.31 billion",
"priorabs": "$1.31 billion",
"yoy": "up 153.2%",
"source": {
"array": "quarterly",
"field": "income_statement.net_earnings_attributable_to_bms",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000014272-26-000020",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000014272-26-000020",
"gap_days": 365
}
},
{
"label": "Diluted EPS",
"format": "eps",
"value": 1.62,
"text": "$1.62",
"exact": "$1.62",
"compact": "$1.62",
"abs": "$1.62",
"prior_value": 0.64,
"prior": "$0.64",
"priorabs": "$0.64",
"yoy": "up 153.1%",
"source": {
"array": "quarterly",
"field": "income_statement.diluted_eps",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000014272-26-000020",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000014272-26-000020",
"gap_days": 365
}
},
{
"label": "Growth Portfolio revenue",
"format": "usd",
"value": 7560000000,
"text": "$7.56 billion",
"exact": "$7,560,000,000",
"compact": "$7.56B",
"abs": "$7.56 billion",
"prior_value": 6596000000,
"prior": "$6.60 billion",
"priorabs": "$6.60 billion",
"yoy": "up 14.6%",
"source": {
"array": "quarterly",
"field": "revenue_by_product.total_growth_portfolio",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000014272-26-000020",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000014272-26-000020",
"gap_days": 365
}
},
{
"label": "Eliquis revenue",
"format": "usd",
"value": 4481000000,
"text": "$4.48 billion",
"exact": "$4,481,000,000",
"compact": "$4.48B",
"abs": "$4.48 billion",
"prior_value": 3680000000,
"prior": "$3.68 billion",
"priorabs": "$3.68 billion",
"yoy": "up 21.8%",
"source": {
"array": "quarterly",
"field": "revenue_by_product.eliquis",
"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000014272-26-000020",
"prior_index": 1,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000014272-26-000020",
"gap_days": 365
}
}
],
"summary": "Bristol-Myers Squibb reported $12.97 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026, up 5.7% from a year earlier, and net earnings attributable to the company of $3.32 billion, up 153.2%. Diluted earnings per share were $1.62 against $0.64 a year earlier, though most of that earnings increase came from expenses that did not repeat rather than from the top line: Bristol-Myers Squibb recorded no acquired in-process research and development charge in the quarter, against a large one a year earlier, and amortization of acquired intangible assets fell sharply. Growth Portfolio revenue reached $7.56 billion, up 14.6%, while Eliquis, the company's largest single product and the only separately reported brand in its shrinking Legacy Portfolio to grow, contributed $4.48 billion, up 21.8%, on higher demand and higher realized U.S. net selling prices after a list price reduction cut rebates. Alongside the results, Bristol-Myers Squibb raised its full-year 2026 revenue and non-GAAP earnings per share guidance.",
"qa": [
{
"q": "How much revenue did Bristol-Myers Squibb report in Q2 FY2026?",
"a": "Bristol-Myers Squibb reported $12.97 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026. That is up 5.7% from $12.27 billion in the same quarter a year earlier."
},
{
"q": "What was Bristol-Myers Squibb's earnings per share in Q2 FY2026?",
"a": "Bristol-Myers Squibb reported diluted earnings per share of $1.62 for Q2 FY2026, against $0.64 in the same quarter a year earlier, on net earnings attributable to the company of $3.32 billion."
},
{
"q": "Why did Bristol-Myers Squibb's net income rise in Q2 FY2026?",
"a": "Net earnings attributable to Bristol-Myers Squibb were $3.32 billion in Q2 FY2026 against $1.31 billion a year earlier, but the increase came mainly from charges that did not repeat. The company recorded no acquired in-process research and development charge in the quarter, against a large one a year earlier, and amortization of acquired intangible assets fell sharply, which cut total expenses even as revenue grew."
},
{
"q": "How much Eliquis revenue did Bristol-Myers Squibb report in Q2 FY2026?",
"a": "Eliquis generated $4.48 billion of revenue for Bristol-Myers Squibb in Q2 FY2026, up 21.8% from $3.68 billion a year earlier. Eliquis sits in Bristol-Myers Squibb's Legacy Portfolio and remains its largest single product, while the whole Growth Portfolio generated $7.56 billion in the same quarter."
}
]
},
"company_details": {
"Name": "Bristol Myers Squibb Co",
"Ticker": "BMY",
"CIK": "0000014272",
"Exchange": "NYSE",
"State": "New Jersey",
"Incorporation": "Delaware",
"SIC": "2834",
"Office": "Life Sciences",
"Industry": "Pharmaceutical Preparations"
},
"next_filing": {
"predicted_date": "2026-10-29",
"predicted_type": "10-Q"
},
"fiscal_period": {
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"form": "10-Q",
"accession": "0000014272-26-000020",
"fiscal_year_end": "1231",
"source": "facts"
},
"source_filings": [
{
"role": "annual",
"current": false,
"form": "10-K",
"fiscal_year": 2025,
"fiscal_period": "FY",
"tag": "FY25",
"period_end": "2025-12-31",
"filed": "2026-02-11",
"accession": "0000014272-26-000004",
"url": "https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/0000014272-26-000004-index.htm",
"source": "reported"
},
{
"role": "quarterly",
"current": true,
"form": "10-Q",
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"filed": "2026-07-30",
"accession": "0000014272-26-000020",
"url": "https://www.sec.gov/Archives/edgar/data/14272/000001427226000020/0000014272-26-000020-index.htm",
"source": "facts"
}
]
}