BRISTOL-MYERS SQUIBB Reports Fourth Quarter Fiscal Year 2022 Financial Results on February 2 2023
March 7, 2023
Earnings Overview
On February 2 2023, BRISTOL-MYERS SQUIBB ($NYSE:BMY) released their fourth quarter financial report for the fiscal year that ended December 31 2022. The total revenue for this quarter was USD 2.0 billion, a decline of 14.8% when compared to the same period the year before. Net income for this quarter was USD 11.4 billion, representing a decrease of 4.8% from the same period in the prior year.
Transcripts Simplified
Bristol-Myers Squibb (BMS) reported strong fourth quarter and full year financial results for 2022, with global revenues of $645 million in the fourth quarter, up 87%, and over $2 billion for the full year, nearly doubling 2021 results. BMS’s new product portfolio saw nine new product approvals in the fourth quarter, with non-risk-adjusted revenue of $25 billion expected at the end of the decade. Opdivo sales reflect strong demand for new and core indications, with double-digit growth in the fourth quarter and the full year.
Eliquis also had a great year with global revenues increasing 6% and 14% for the fourth quarter and full year respectively. Lastly, Camzyos had sales of $16 million in the fourth quarter, and has made significant progress since its launch in May of 2022.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bristol-myers Squibb. More…
| Total Revenues | Net Income | Net Margin |
| 46.16k | 6.33k | 16.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bristol-myers Squibb. More…
| Operations | Investing | Financing |
| 13.82k | -538 | -16.22k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bristol-myers Squibb. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 98.2k | 65.46k | 15.37 |
Key Ratios Snapshot
Some of the financial key ratios for Bristol-myers Squibb are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.9% | 15.5% | 19.4% |
| FCF Margin | ROE | ROA |
| 27.6% | 17.1% | 5.7% |
Stock Price
The stock opened at $70.3 and closed at $72.8, up from the prior closing price of 71.2, representing a 2.2% increase. The company saw strength in some areas of its business such as pharmaceuticals and biologics, which saw revenue growth of 4% and 5% respectively. The company also benefited from its strong research and development pipeline, which saw revenue growth of 8%.
Overall, BRISTOL-MYERS SQUIBB reported solid fourth quarter financial results and investors seem to be pleased with the numbers. Its stock is up 2.2% from prior closing price, signaling that investors are optimistic about the company’s potential in the upcoming year. Live Quote…
Analysis
GoodWhale is here to analyze the financials of BRISTOL-MYERS SQUIBB. According to our Star Chart, BRISTOL-MYERS SQUIBB has strong performance in dividend, growth, and profitability, but is weak in assets. We classify this company as a ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. For investors seeking a combination of growth and a steady dividend, BRISTOL-MYERS SQUIBB is an attractive option. The company also has a high health score of 8/10 with regard to its cashflows and debt, which indicates that it is in a strong financial position with the ability to pay off debt and fund future operations. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($NYSE:MRK)
Merck & Co Inc is a global health care company that offers a wide range of products and services to customers in more than 140 countries. The company has a market cap of 236.25B as of 2022 and a Return on Equity of 28.84%. Merck & Co Inc is a diversified company that operates in four main business segments: Pharmaceuticals, Vaccines, Animal Health, and Consumer Care. The company’s products include prescription and over-the-counter medicines, vaccines, biologic therapies, and consumer and animal health products. Merck & Co Inc is one of the world’s largest pharmaceutical companies and is a leading provider of health care products and services.
– Amgen Inc ($NASDAQ:AMGN)
Amgen Inc is a large biotechnology company with a market cap of 132.76B as of 2022. The company has a strong return on equity of 460.37%. The company focuses on developing and delivering therapies for serious illnesses.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 312.88B as of 2022. Its return on equity is 45.88%. The company focuses on the discovery, development, manufacture, and sale of pharmaceutical products. It offers products in the areas of endocrinology, diabetes, oncology, immunology, neuroscience, and erectile dysfunction.
Summary
BRISTOL-MYERS SQUIBB reported their financial results for the fourth quarter of fiscal year 2022, revealing a 14.8% decrease in total revenue and a 4.8% drop in net income year-over-year. Investors must consider whether this is indicative of a long-term trend or an isolated instance. Analysts will need to assess the company’s performance on key metrics such as cash flow, debt levels, and return on investments to determine if BRISTOL-MYERS SQUIBB is a solid investment moving forward. Furthermore, new product development and strategic partnerships must be taken into account when assessing the future of the company.
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