Bristol-Myers Squibb (BMY) FY2019 results: revenue $26.1 billion, up 15.9% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $26.1 billion for fiscal 2019, the year ended 31 December 2019, up 15.9% on the year before. Net income was $3.4 billion, down 30.1%, and diluted earnings per share $2.01. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$26.1 billion
+15.9% on the year
FY2012FY2019
Operating margin
19.0%
26.5% a year earlier
FY2012FY2019
Net income
$3.4 billion
-30.1% on the year
FY2012FY2019
Diluted EPS
$2.01
-33.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
26,145
22,561
20,776
+15.9%
Cost of revenue
8,078
6,467
6,014
+24.9%
Gross profit
18,067
16,094
14,710
+12.3%
Gross margin
69.1%
71.3%
70.8%
Research and development
6,148
6,332
6,468
-2.9%
Selling, general and administrative
4,871
4,551
4,751
+7.0%
Operating income
4,975
5,968
5,131
-16.6%
Operating margin
19.0%
26.5%
24.7%
Interest expense
656
183
196
+258.5%
Pre-tax income
4,975
5,968
5,131
-16.6%
Income tax
1,515
1,021
4,156
+48.4%
Effective tax rate
30.5%
17.1%
81.0%
Net income
3,439
4,920
1,007
-30.1%
Net margin
13.2%
21.8%
4.8%
Diluted EPS
$2.01
$3.01
$0.61
-33.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
8,210
7,066
5,275
+16.2%
Capital expenditure
836
951
1,055
-12.1%
Free cash flow
7,374
6,115
4,220
+20.6%
Free cash flow margin
28.2%
27.1%
20.3%
Cash from investing
-9,913
-2,000
-66.0
Cash from financing
7,621
-3,535
-4,077
Depreciation and amortisation
1,746
637
789
+174.1%
Share-based compensation
441
221
199
+99.5%
Buybacks
7,300
320
2,469
+2,181.2%
Dividends paid
2,679
2,613
2,577
+2.5%
Dividend per share
$1.68
$1.61
$1.57
+4.3%
Diluted shares, weighted
1,712m
1,637m
1,652m
+4.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
51,598
14,031
11,741
+267.7%
Non-controlling interest
100
96.0
106
+4.2%
Debt
46,733
7,349
7,962
+535.9%
Operating lease liabilities
672
0.0
n/a
Other liabilities
30,841
13,510
13,742
+128.3%
Total liabilities and equity
129,944
34,986
33,551
+271.4%
Fixed assets
6,252
5,027
5,001
+24.4%
Goodwill
22,488
6,538
6,863
+244.0%
Intangible assets
63,969
1,091
1,210
+5,763.3%
Investments
3,814
3,623
3,871
+5.3%
Cash and equivalents
12,346
6,911
5,421
+78.6%
Receivables
6,476
4,636
4,347
+39.7%
Inventory
4,293
1,195
1,166
+259.2%
Other assets
10,306
5,965
5,672
+72.8%
Total assets
129,944
34,986
33,551
+271.4%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.