Bristol-Myers Squibb (BMY) FY2020 results: revenue $42.5 billion, up 62.6% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $42.5 billion for fiscal 2020, the year ended 31 December 2020, up 62.6% on the year before. Net income was -$9.0 billion, and diluted earnings per share $-3.99. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2021.
Revenue
$42.5 billion
+62.6% on the year
FY2013FY2020
Operating margin
-16.2%
19.0% a year earlier
FY2013FY2020
Net income
-$9.0 billion
FY2013FY2020
Diluted EPS
-$3.99
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
42,518
26,145
22,561
+62.6%
Cost of revenue
11,773
8,078
6,467
+45.7%
Gross profit
30,745
18,067
16,094
+70.2%
Gross margin
72.3%
69.1%
71.3%
Research and development
10,048
6,148
6,332
+63.4%
Selling, general and administrative
7,661
4,871
4,551
+57.3%
Operating income
-6,871
4,975
5,968
Operating margin
-16.2%
19.0%
26.5%
Interest expense
1,420
656
183
+116.5%
Pre-tax income
-6,871
4,975
5,968
Income tax
2,124
1,515
1,021
+40.2%
Effective tax rate
n/a
30.5%
17.1%
Net income
-9,015
3,439
4,920
Net margin
-21.2%
13.2%
21.8%
Diluted EPS
-$3.99
$2.01
$3.01
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
14,052
8,210
7,066
+71.2%
Capital expenditure
753
836
951
-9.9%
Free cash flow
13,299
7,374
6,115
+80.3%
Free cash flow margin
31.3%
28.2%
27.1%
Cash from investing
-10,859
-9,913
-2,000
Cash from financing
-1,151
7,621
-3,535
Depreciation and amortisation
10,380
1,746
637
+494.5%
Share-based compensation
779
441
221
+76.6%
Buybacks
1,546
7,300
320
-78.8%
Dividends paid
4,075
2,679
2,613
+52.1%
Dividend per share
$1.84
$1.68
$1.61
+9.5%
Diluted shares, weighted
2,258m
1,712m
1,637m
+31.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
37,822
51,598
14,031
-26.7%
Non-controlling interest
60.0
100
96.0
-40.0%
Debt
50,676
46,733
7,349
+8.4%
Operating lease liabilities
833
672
0.0
+24.0%
Other liabilities
29,090
30,841
13,510
-5.7%
Total liabilities and equity
118,481
129,944
34,986
-8.8%
Fixed assets
5,886
6,252
5,027
-5.9%
Goodwill
20,547
22,488
6,538
-8.6%
Intangible assets
53,243
63,969
1,091
-16.8%
Investments
1,718
3,814
3,623
-55.0%
Cash and equivalents
14,546
12,346
6,911
+17.8%
Receivables
7,219
6,476
4,636
+11.5%
Inventory
2,074
4,293
1,195
-51.7%
Other assets
13,248
10,306
5,965
+28.5%
Total assets
118,481
129,944
34,986
-8.8%
10-K for the year ended 31 December 2020, filed 10 February 2021: the filing.