Question 1

What is Bristol-Myers Squibb's EV/EBITDA ratio?

Accepted Answer

Bristol-Myers Squibb (BMY) EV/EBITDA ratio is 11.5× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Bristol-Myers Squibb?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Bristol-Myers Squibb specifically, the relevant sector benchmark is the current sector median of 14.2×.

Question 5

Is Bristol-Myers Squibb's EV/EBITDA ratio high or low?

Accepted Answer

Bristol-Myers Squibb's EV/EBITDA ratio of 11.5× is below its own 5-year average of 15.1× and below the sector median of 14.2×. That places the current reading at the 69th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Bristol-Myers Squibb's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Bristol-Myers Squibb (BMY) EV/EBITDA ratio has ranged from a low of 5.7× in 2009 to a high of 53.7× in 2013. The 5-year average is 15.1× and the 5-year median is 9.9×.

Question 7

What was Bristol-Myers Squibb's EV/EBITDA ratio in 2025?

Accepted Answer

Bristol-Myers Squibb (BMY) EV/EBITDA ratio at the end of 2025 was 10.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Bristol-Myers Squibb's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$110B	$14.5B	10.1×	-38.9×	Dec 31, 2025
2024	$115B	$3.17B	49.0×	+42.1×	Dec 31, 2024
2023	$104B	$19.4B	6.9×	-2.7×	Dec 31, 2023
2022	$152B	$19.2B	9.5×	+1.4×	Dec 31, 2022
2021	$134B	$20.1B	8.1×	-27.4×	Dec 31, 2021
2020	$140B	$4.93B	35.5×	+14.5×	Dec 31, 2020
2019	$123B	$7.38B	21.0×	+8.7×	Dec 31, 2019
2018	$84.8B	$6.79B	12.3×	-4.3×	Dec 31, 2018
2017	$100B	$6.12B	16.6×	+1.4×	Dec 31, 2017
2016	$97.7B	$6.46B	15.2×	-28.8×	Dec 31, 2016
2015	$113B	$2.64B	43.9×	+11.7×	Dec 31, 2015
2014	$98B	$3.05B	32.2×	+8.5×	Dec 31, 2014
2013	$87.6B	$3.85B	23.7×	+5.6×	Dec 31, 2013
2012	$53.6B	$3.2B	18.2×	+10.9×	Dec 31, 2012
2011	$59.6B	$7.82B	7.2×	+1.0×	Dec 31, 2011
2010	$45.2B	$6.96B	6.2×	-1.7×	Dec 31, 2010
2009	$49.5B	$5.98B	7.9×	+1.2×	Dec 31, 2009
2008	$46B	$6.64B	6.7×	-7.3×	Dec 31, 2008
2007	$52.4B	$4.02B	14.0×	-1.5×	Dec 31, 2007
2006	$51.7B	$3.55B	15.5×	+5.7×	Dec 31, 2006
2005	$44.9B	$4.88B	9.8×	-0.1×	Dec 31, 2005
2004	$49.8B	$5.36B	9.8×	-0.4×	Dec 31, 2004
2003	$55.5B	$5.74B	10.2×	-0.5×	Dec 31, 2003
2002	$50.5B	$5.03B	10.8×	—	Dec 31, 2002


Quest Diagnostics (DGX)	13.3×
Gilead Sciences (GILD)	13.2×
Becton, Dickinson and (BDX)	12.9×
Regeneron Pharmaceuticals (REGN)	12.9×
Medtronic (MDT)	12.9×
STERIS (STE)	12.8×
Pfizer (PFE)	12.5×
Align Technology (ALGN)	12.4×
IQVIA (IQV)	12.2×
GE HealthCare (GEHC)	12.0×
Henry Schein (HSIC)	11.9×
Zimmer Biomet Holdings (ZBH)	11.2×
AptarGroup (ATR)	11.1×
Viatris (VTRS)	11.0×
Biogen (BIIB)	10.8×
HCA Healthcare (HCA)	10.0×
Elevance Health (ELV)	9.7×
AstraZeneca (AZN)	8.7×
DaVita (DVA)	8.5×
Incyte (INCY)	7.9×
Cigna (CI)	7.6×
Novo Nordisk (NVO)	6.3×
Solventum (SOLV)	5.8×
Universal Health Services (UHS)	5.7×
Humana (HUM)	4.5×

EV/EBITDA for Bristol-Myers Squibb (BMY) 2002-2026

EV/EBITDA daily chart for Bristol-Myers Squibb (BMY)

Historical EV/EBITDA for Bristol-Myers Squibb (BMY) from 2002 to 2025

About EV/EBITDA at Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb EV/EBITDA by Year

Bristol-Myers Squibb EV/EBITDA 2025: 10.1×

Bristol-Myers Squibb EV/EBITDA 2024: 49.0×

Bristol-Myers Squibb EV/EBITDA 2023: 6.9×

Bristol-Myers Squibb EV/EBITDA 2022: 9.5×

Bristol-Myers Squibb EV/EBITDA 2021: 8.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Bristol-Myers Squibb (BMY) Key Financials