Question 1

What is Bristol-Myers Squibb's P/FCF ratio?

Accepted Answer

Bristol-Myers Squibb (BMY) P/FCF ratio is 9.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Bristol-Myers Squibb?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Bristol-Myers Squibb specifically, the relevant sector benchmark is the current sector median of 19.8×.

Question 5

Is Bristol-Myers Squibb's P/FCF ratio high or low?

Accepted Answer

Bristol-Myers Squibb's P/FCF ratio of 9.8× is above its own 5-year average of 9.6× and below the sector median of 19.8×. That places the current reading at the 57th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, Bristol-Myers Squibb (BMY) P/FCF ratio has ranged from a low of 6.0× in 2025 to a high of 2050.3× in 2016. The 5-year average is 9.6× and the 5-year median is 9.1×.

Question 7

What was Bristol-Myers Squibb's P/FCF ratio in 2025?

Accepted Answer

Bristol-Myers Squibb (BMY) P/FCF ratio at the end of 2025 was 8.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Bristol-Myers Squibb's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$110.09B	$12.85B	8.6×	+0.3×	Dec 31, 2025
2024	$114.76B	$13.94B	8.2×	+0.0×	Dec 31, 2024
2023	$104.01B	$12.65B	8.2×	-4.5×	Dec 31, 2023
2022	$151.67B	$11.95B	12.7×	+3.9×	Dec 31, 2022
2021	$134.24B	$15.23B	8.8×	-1.4×	Dec 31, 2021
2020	$139.69B	$13.61B	10.3×	-6.7×	Dec 31, 2020
2019	$122.90B	$7.23B	17.0×	-0.0×	Dec 31, 2019
2018	$84.83B	$4.99B	17.0×	-6.8×	Dec 31, 2018
2017	$100.25B	$4.22B	23.8×	-29.7×	Dec 31, 2017
2016	$97.71B	$1.83B	53.5×	-58.6×	Dec 31, 2016
2015	$113.44B	$1.01B	112.1×	+74.7×	Dec 31, 2015
2014	$97.99B	$2.62B	37.4×	+8.3×	Dec 31, 2014
2013	$87.59B	$3.01B	29.1×	+20.7×	Dec 31, 2013
2012	$53.58B	$6.39B	8.4×	-4.9×	Dec 31, 2012
2011	$59.59B	$4.47B	13.3×	+2.2×	Dec 31, 2011
2010	$45.20B	$4.07B	11.1×	-3.7×	Dec 31, 2010
2009	$49.46B	$3.33B	14.8×	-1.8×	Dec 31, 2009
2008	$46.03B	$2.77B	16.6×	-6.0×	Dec 31, 2008
2007	$52.40B	$2.31B	22.7×	-17.4×	Dec 31, 2007
2006	$51.67B	$1.29B	40.1×	-0.9×	Dec 31, 2006
2005	$44.93B	$1.10B	40.9×	+19.9×	Dec 31, 2005
2004	$49.83B	$2.37B	21.1×	-2.1×	Dec 31, 2004
2003	$55.48B	$2.40B	23.1×	—	Dec 31, 2003
2002	$50.49B	−$47.00M	—	—	Dec 31, 2002
2001	$98.79B	$4.38B	22.6×	—	Dec 31, 2001


AbbVie (ABBV)	18.5×
Align Technology (ALGN)	17.8×
McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Incyte (INCY)	12.9×
UnitedHealth Group (UNH)	12.5×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	10.7×
Biogen (BIIB)	10.3×
Elevance Health (ELV)	10.0×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Centene (CNC)	2.5×

P/FCF Ratio for Bristol-Myers Squibb (BMY)

P/FCF Ratio daily chart for Bristol-Myers Squibb (BMY)

Historical P/FCF Ratio for Bristol-Myers Squibb (BMY) from 2001 to 2025

About P/FCF Ratio at Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb P/FCF Ratio by Year

Bristol-Myers Squibb P/FCF Ratio 2025: 8.6×

Bristol-Myers Squibb P/FCF Ratio 2024: 8.2×

Bristol-Myers Squibb P/FCF Ratio 2023: 8.2×

Bristol-Myers Squibb P/FCF Ratio 2022: 12.7×

Bristol-Myers Squibb P/FCF Ratio 2021: 8.8×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Bristol-Myers Squibb (BMY) Key Financials

P/FCF Ratio daily chart for Bristol-Myers Squibb (BMY)

Historical P/FCF Ratio for Bristol-Myers Squibb (BMY) from 2001 to 2025

About P/FCF Ratio at Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb P/FCF Ratio by Year

Bristol-Myers Squibb P/FCF Ratio 2025: 8.6×

Bristol-Myers Squibb P/FCF Ratio 2024: 8.2×

Bristol-Myers Squibb P/FCF Ratio 2023: 8.2×

Bristol-Myers Squibb P/FCF Ratio 2022: 12.7×

Bristol-Myers Squibb P/FCF Ratio 2021: 8.8×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Bristol-Myers Squibb's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Bristol-Myers Squibb?

+Is Bristol-Myers Squibb's P/FCF ratio high or low?

+What is Bristol-Myers Squibb's historical P/FCF ratio range?

+What was Bristol-Myers Squibb's P/FCF ratio in 2025?

+Why does Bristol-Myers Squibb's P/FCF ratio change over time?

Bristol-Myers Squibb (BMY) Key Financials