Bristol-Myers Squibb (BMY) FY2011 results: revenue $21.2 billion, up 9.0% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $21.2 billion for fiscal 2011, the year ended 31 December 2011, up 9.0% on the year before. Net income was $3.7 billion, up 19.6%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2012.
Revenue
$21.2 billion
+9.0% on the year
FY2007FY2011
Operating margin
32.9%
31.2% a year earlier
FY2007FY2011
Net income
$3.7 billion
+19.6% on the year
FY2007FY2011
Diluted EPS
$2.16
+20.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
21,244
19,484
18,808
+9.0%
Cost of revenue
5,598
5,277
5,140
+6.1%
Gross profit
15,646
14,207
13,668
+10.1%
Gross margin
73.6%
72.9%
72.7%
Research and development
3,839
3,566
3,647
+7.7%
Selling, general and administrative
4,203
3,686
3,946
+14.0%
Operating income
6,981
6,071
5,602
+15.0%
Operating margin
32.9%
31.2%
29.8%
Interest expense
145
145
184
0.0%
Pre-tax income
6,981
6,071
5,602
+15.0%
Income tax
1,721
1,558
1,182
+10.5%
Effective tax rate
24.7%
25.7%
21.1%
Net income
3,709
3,102
10,612
+19.6%
Net margin
17.5%
15.9%
56.4%
Diluted EPS
$2.16
$1.79
$5.34
+20.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
4,840
4,491
4,065
+7.8%
Capital expenditure
367
424
730
-13.4%
Free cash flow
4,473
4,067
3,335
+10.0%
Free cash flow margin
21.1%
20.9%
17.7%
Cash from investing
-1,437
-3,812
-4,380
Cash from financing
-2,657
-3,343
-17.0
Depreciation and amortisation
628
607
299
+3.5%
Share-based compensation
161
193
183
-16.6%
Buybacks
1,221
576
n/a
+112.0%
Dividends paid
2,254
2,202
2,483
+2.4%
Dividend per share
$1.33
$1.29
$1.25
+3.1%
Diluted shares, weighted
1,717m
1,727m
1,978m
-0.6%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
15,956
15,713
14,843
+1.5%
Non-controlling interest
-89.0
-75.0
-58.0
Short-term borrowings
n/a
n/a
231
Debt
5,491
5,445
6,130
+0.8%
Other liabilities
11,612
9,993
9,862
+16.2%
Total liabilities and equity
32,970
31,076
31,008
+6.1%
Fixed assets
4,521
4,664
5,055
-3.1%
Goodwill
5,586
5,233
5,218
+6.7%
Intangible assets
3,124
3,370
2,865
-7.3%
Investments
5,866
4,949
2,200
+18.5%
Cash and equivalents
5,776
5,033
7,683
+14.8%
Receivables
2,250
1,985
1,897
+13.4%
Inventory
1,384
1,204
1,413
+15.0%
Other assets
4,463
4,638
4,677
-3.8%
Total assets
32,970
31,076
31,008
+6.1%
10-K for the year ended 31 December 2011, filed 17 February 2012: the filing.