)
Visual
test
Bristol-Myers Squibb Company
Bristol-Myers Squibb Company (BMY) investor relations material
Bristol-Myers Squibb Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Feb, 2026
Executive summary
Growth Portfolio revenues increased 16% year-over-year in Q4 2025 and 17% for the full year, nearly offsetting a $4B decline in the Legacy Portfolio, with strong contributions from new launches and established brands.
Key products Opdualag, Breyanzi, and Camzyos each exceeded $1B in annual sales; Reblozyl surpassed $2B.
Multiple clinical and regulatory milestones achieved, with several products now exceeding $1B in annual revenue.
Entered 2026 with solid momentum and a robust pipeline, expecting over 10 new medicines and 30+ launch opportunities by 2030.
Revenue mix continues to shift from legacy to growth products, reflecting successful portfolio transition.
Financial highlights
Q4 2025 total revenues were $12.5B; full-year 2025 revenues reached $48.2B, with Growth Portfolio revenue up 16% to $7.4B in Q4 and 17% to $26.4B for the year.
Opdivo Q4 revenue up 7% to nearly $2.7B; Reblozyl up 21%; Breyanzi up 47%; Camzyos up 57%.
Eliquis Q4 revenue grew 6% to nearly $3.5B, with U.S. revenue up 4%.
Non-GAAP gross margin for FY 2025 was 72.6%; Q4 non-GAAP EPS was $1.26, and FY 2025 non-GAAP EPS was $6.15.
Q4 cash flow from operations was $6.3B.
Outlook and guidance
2026 revenue guidance: $46B–$47.5B, reflecting growth portfolio strength and a 12%-16% decline in legacy portfolio revenue.
Eliquis projected to grow 10%-15% in 2026, with a $1.5B–$2B step-down expected in 2027 due to EU patent expirations and generic entry.
Adjusted diluted EPS guidance for 2026: $6.05–$6.35.
Gross margin expected at 69%-70% in 2026; operating expenses to decline to ~$16.3B.
Impact of 2026 pivotal readouts on growth?
What drives Eliquis's 2026 growth despite legacy decline?
Strategy for volatile IPRD charges and licensing income?
Eliquis 2026 growth drivers explain
Milvexian AFib: clinically meaningful delta?
Neuroscience BD: priority for new assets?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 6 FebMGY
Record production, strong free cash flow, and disciplined capital returns defined 2025. - 6 FebQNST
Record Q2 revenue, $50.2M net income, HomeBuddy acquisition, and AI drive growth. - 6 FebOPGN
Shareholders will vote on seven key proposals, including a new equity plan and company name change. - 6 FebCDP
2025 FFO/share up 5.8% with strong leasing; 2026 outlook positive amid record defense spending. - 6 FebVTR
2025 saw double-digit SHOP NOI and FFO growth, a raised dividend, and $2.5B in investments. - 6 FebREG
2025 delivered record NOI and FFO growth, with 2026 guidance projecting further gains. - 6 FebMNTS
All stock issuance proposals passed except the share increase, which was not approved. - 6 FebCPT
2025 beat guidance; 2026 sees lower FFO, Sun Belt focus, and major asset sales with share repurchases. - 6 FebKOG
Record growth, robust backlog, and a NOK 5.70 dividend proposal drive future expansion. - 6 FebTSBK
Net income rose 19.8% to $8.22M, with higher margins, strong capital, and a dividend increase.
Next Bristol-Myers Squibb Company earnings date
Q1 202630 Apr, 2026
Bristol-Myers Squibb Company
Next Bristol-Myers Squibb Company earnings date
Q1 202630 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Bristol-Myers Squibb Company is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. It offers pharmaceutical products to treat psychiatric; cardiovascular diseases consisting of cholesterol disorders, hypertension, and arrhythmias; diabetes; human immunodeficiency virus infection; hepatitis B and hepatitis C viruses; infectious diseases comprising bacterial infections, mycobacterium avium complex disease, malaria, fungal infections tuberculosis, and influenza A/B virus; cancer comprising lymphoma, leukemia, and other cancers; diseases relating to inflammatory response of the body; rheumatoid arthritis and osteoarthritis related inflammation; psoriasis; Crohn's disease. The company also provides over-the-counter products for the treatment of acne and cold sores.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage