TacticScaleWhat Bristol-Myers Squibb Does & How It Makes Money (BMY)
Updated October 2026 · reflects Bristol-Myers Squibb's latest reported financials
Global biopharma company making cancer, blood, immune, heart, and brain drugs. It earns revenue by selling branded prescription drugs to wholesalers, distributors, specialty pharmacies, retailers, hospitals, clinics, and government agencies.
How Bristol-Myers Squibb makes money
It earns revenue by selling branded prescription drugs to wholesalers, distributors, specialty pharmacies, retailers, hospitals, clinics, and government agencies. It also licenses products and works with partners such as Arcus Biosciences.
What Bristol-Myers Squibb does
Bristol-Myers Squibb is a large biopharmaceutical company founded in 1887 and headquartered in Princeton, New Jersey. It focuses on oncology, hematology, immunology, cardiovascular, and neuroscience. Its well-known products include the blood thinner Eliquis, the cancer immunotherapies Opdivo, Opdivo Qvantig, Yervoy, and Opdualag, the multiple myeloma drugs Revlimid and Pomalyst, and the CAR-T cell therapies Breyanzi and Abecma. Newer products include Camzyos for obstructive hypertrophic cardiomyopathy, Sotyktu for psoriasis, Krazati and Augtyro for specific types of lung cancer, and Cobenfy for schizophrenia. The company sells to wholesalers, specialty pharmacies, hospitals, and government agencies, and works with partners such as Arcus Biosciences on kidney cancer treatments.
Products & services
- Eliquis
- Opdivo
- Revlimid
- Reblozyl
- Camzyos
- Cobenfy
What is Bristol-Myers Squibb worth?
On an owner-earnings DCF, Bristol-Myers Squibb's most-likely value is about $112 versus a recent price near $59 (89% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$82) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $59 is below even the no-growth floor ($82); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -3.4%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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