Bristol-Myers Squibb Company (BMY)
Healthcare · Drug Manufacturers - General · Data as of 2026-10-22
Bottom line
BMY is trading near its usual valuation, near its historical resistance zone, and recent volume shows no clear direction. The picture is mixed, so it may be worth watching rather than acting on. Past patterns are not a guarantee of future results.
Valuation — Cheap-looking, with quality flags (Yellow)
BMY trades at 13× earnings, below its own 5-year average of 18× and below similar healthcare companies we track (28×, 53 peers). Historically this has been on the cheaper side for the stock. It also generates strong cash: a free-cash-flow yield of about 9%. One caution: revenue has been shrinking, so the low multiple may reflect a weakening business rather than a bargain. Its current multiple sits around the 14th percentile of its own last five years — toward the low end of its own range.
Quality check: revenue is shrinking, about 0% a year (3-year pace about 2%; analysts expect about -3% next year), while the multiple sits at the low end of its own history. That combination can mean the market is pricing a slower business rather than offering a bargain.
Price zones — Near its historical resistance zone (Red)
At $63.00, the stock is close to the upper end of its recent range. Over the past year BMY has traded between $42.52 and $68.64; its historical support zone sits near $59.79 and resistance near $63.26. It is above one of its moving averages and below the other — a mixed trend picture.
52-week range $42.52–$68.64 · 50-day average $63.26 · 200-day average $59.79
Money flow — No clear direction (Yellow)
Buying and selling volume in BMY have been fairly balanced recently, with no strong accumulation or distribution pattern. Volume on up days has been about 0.7× volume on down days over the last 30 sessions.
Dividends & company facts
BMY paid $2.52 a share in dividends over the past year — 4.0% of today's price — and has raised it in each of the last five years. It also bought back shares: $128 million in fiscal 2025, about 0.10% of its market value.
- Dividend yield (12 months)
- 4.0%
- Paid over 12 months
- $2.52 a share
- Payout ratio
- 54.9%
- Buybacks
- 0.1% (fiscal 2025)
- Shares, past year
- +0.5%
- Revenue, 12 months
- $49.2B
- Profit, 12 months
- $9.3B
- Employees
- 32,500
- CEO
- Christopher Boerner
- Headquarters
- Princeton, NJ
- Listed since
- 1972 · NYSE
About the company
Bristol-Myers Squibb Company operates as a global biopharmaceutical entity, actively involved in the research, development, licensing, production, and worldwide commercialization of its medicinal portfolio. The company's therapeutic areas span hematology, oncology, cardiovascular health, immunology, fibrotic conditions, neuroscience, and infectious diseases like COVID-19. Its significant pharmaceutical offerings include Revlimid, an oral immunomodulatory agent for multiple myeloma, and Eliquis, an oral anticoagulant crucial for reducing stroke risk and systemic embolism in non-valvular…
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一句话结论
BMY 估值接近其惯常水平，接近其历史阻力区，近期成交量没有明确方向。整体情况好坏参半，也许更适合先观察，而不是急于行动。过去的形态并不能保证未来的结果。
估值 — 看似便宜，但有质量警示
BMY 目前的市盈率为 13×，低于其自身 5 年平均的 18×，并且低于我们追踪的同类Healthcare公司（28×，53 家）。从历史来看，这属于该股较便宜的一侧。它同时产生充沛的现金：自由现金流收益率约为 9%。有一点需要留意：营收一直在萎缩，因此较低的估值倍数可能反映的是业务转弱，而非便宜。它当前的估值倍数大约位于自身过去五年分布的第 14 百分位——处于自身区间的偏低位置。
质量核对：营收正在萎缩，每年约 0%（3 年平均步伐约为 2%；分析师预期明年约为 -3%），而估值倍数正处于自身历史的低位。这样的组合可能意味着市场在为一个增长更慢的业务定价，而不是在给出便宜的价格。
价格区间 — 接近其历史阻力区
目前价格为 $63.00，接近其近期区间的上沿。过去一年 BMY 的价格在 $42.52 到 $68.64 之间波动；其历史支撑区在 $59.79 附近，阻力区在 $63.26 附近。它位于其中一条均线上方、另一条下方——趋势信号并不一致。
资金流向 — 方向不明确
BMY 近期的买卖成交量大致均衡，没有明显的吸筹或派发形态。过去 30 个交易日，上涨日的成交量约为下跌日的 0.7×。
股息与公司概况
BMY 过去一年每股派息 2.52 美元，相当于当前股价的 4.0%，过去五年每年都有上调。它也回购了股票：2025 财年回购 1.3亿美元，约占市值的 0.10%。
UnderTheLight 用直白的语言解释股票——估值、价格区间与资金流向。它只描述数据，不构成任何投资建议。
UnderTheLight explains stocks in plain English — valuation, price zones and money flow as traffic lights, recomputed nightly. It describes data; it is not investment advice and never recommends a trade.