Bristol-Myers Squibb (BMY) FY2017 results: revenue $20.8 billion, up 6.9% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $20.8 billion for fiscal 2017, the year ended 31 December 2017, up 6.9% on the year before. Net income was $1.0 billion, down 77.4%, and diluted earnings per share $0.61. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$20.8 billion
+6.9% on the year
FY2010FY2017
Operating margin
24.7%
30.4% a year earlier
FY2010FY2017
Net income
$1.0 billion
-77.4% on the year
FY2010FY2017
Diluted EPS
$0.61
-77.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
20,776
19,427
16,560
+6.9%
Cost of revenue
6,014
4,969
3,909
+21.0%
Gross profit
14,710
14,481
12,651
+1.6%
Gross margin
70.8%
74.5%
76.4%
Research and development
6,468
5,012
5,920
+29.1%
Selling, general and administrative
4,751
4,979
4,841
-4.6%
Operating income
5,131
5,915
2,077
-13.3%
Operating margin
24.7%
30.4%
12.5%
Interest expense
196
167
184
+17.4%
Pre-tax income
5,131
5,915
2,077
-13.3%
Income tax
4,156
1,408
446
+195.2%
Effective tax rate
81.0%
23.8%
21.5%
Net income
1,007
4,457
1,565
-77.4%
Net margin
4.8%
22.9%
9.5%
Diluted EPS
$0.61
$2.65
$0.93
-77.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,275
3,058
2,105
+72.5%
Capital expenditure
1,055
1,215
820
-13.2%
Free cash flow
4,220
1,843
1,285
+129.0%
Free cash flow margin
20.3%
9.5%
7.8%
Cash from investing
-66.0
1,480
-1,572
Cash from financing
-4,077
-2,653
-3,624
Depreciation and amortisation
789
382
376
+106.5%
Share-based compensation
199
205
235
-2.9%
Buybacks
2,469
231
n/a
+968.8%
Dividends paid
2,577
2,547
2,477
+1.2%
Dividend per share
$1.57
$1.53
$1.49
+2.6%
Diluted shares, weighted
1,652m
1,680m
1,679m
-1.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
11,741
16,177
14,266
-27.4%
Non-controlling interest
106
170
158
-37.6%
Debt
7,962
6,708
6,689
+18.7%
Other liabilities
13,742
10,652
10,635
+29.0%
Total liabilities and equity
33,551
33,707
31,748
-0.5%
Fixed assets
5,001
4,980
4,412
+0.4%
Goodwill
6,863
6,875
6,881
-0.2%
Intangible assets
1,210
1,385
1,419
-12.6%
Investments
3,871
4,832
6,545
-19.9%
Cash and equivalents
5,421
4,237
2,385
+27.9%
Receivables
4,347
3,774
2,948
+15.2%
Inventory
1,166
1,241
1,221
-6.0%
Other assets
5,672
6,383
5,937
-11.1%
Total assets
33,551
33,707
31,748
-0.5%
10-K for the year ended 31 December 2017, filed 25 February 2019: the filing.