Bristol-Myers Squibb Company
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $48.2 billion, essentially flat (about -0.2%) year-over-year |
| Net income (FY2025, GAAP) | $7.1 billion, versus a $8.9 billion net loss in FY2024 (which included large acquired IPR&D/intangible-asset impairment charges) |
| Diluted EPS (FY2025, GAAP) | $3.46, versus $(4.41) in FY2024 |
| Diluted EPS (FY2025, non-GAAP) | $6.15, versus $1.15 in FY2024 |
| R&D expense (FY2025, GAAP) | $10.0 billion, down from $11.2 billion in FY2024 and up from $9.3 billion in FY2023 |
| Growth Portfolio revenue (FY2025) | $26.4 billion, up 17% year-over-year, led by Reblozyl (+31%), Breyanzi (+82%) and Camzyos (+77%) |
| Legacy Portfolio revenue (FY2025) | $21.8 billion, down 15% year-over-year on continued generic/biosimilar erosion |
| Eliquis revenue (FY2025) | $14.4 billion, up 8% year-over-year |
| Revlimid revenue (FY2025) | $3.0 billion, down 49% year-over-year due to continued generic competition |
| Eliquis exclusivity / IRA pricing | US patent litigation has protected Eliquis market exclusivity to an estimated 2028, but the drug's Medicare 'maximum fair price' under the Inflation Reduction Act takes effect January 1, 2026, pressuring net pricing ahead of eventual generic entry |
| Pipeline milestone - Camzyos | Positive Phase 3 SCOUT-HCM topline results reported in 2025 for adolescents with hypertrophic cardiomyopathy |
| Pipeline milestone - Opdivo | FDA granted priority review for a nivolumab/relatlimab-based combination in classical Hodgkin lymphoma, with a PDUFA target action date of April 8, 2026 |
| Pipeline milestone - Breyanzi | Received new FDA approval in marginal zone lymphoma and European Commission approval in mantle cell lymphoma |
| FY2026 guidance | Company guides Legacy Portfolio revenue to decline approximately 12-16% and Eliquis revenue to grow approximately 10-15% for FY2026 |
Sources: Revenue-by-product, net income, EPS, and R&D figures for FY2025 and FY2024 are company-disclosed, from Bristol-Myers Squibb's Q4 & Full-Year 2025 earnings press release (SEC 8-K Exhibit 99.1, filed ~February 2026) and the FY2025 Form 10-K. FY2021-FY2024 total revenue figures are company-disclosed from BMS's respective Q4 earnings press releases filed with the SEC. The 'Other Products' pie slice aggregates roughly 15 smaller Growth and Legacy Portfolio brands (e.g., Zeposia, Abecma, Sotyktu, Krazati, Cobenfy, Sprycel, Abraxane, Opdivo Qvantig is included with Opdivo) that BMS reports individually but which are too small to show as standalone slices; it sums exactly with the named slices to the disclosed $48,194 million total revenue. A specific, credibly-sourced, current third-party market-share estimate for Eliquis (e.g., from IQVIA) could not be located, so no market-share widget is included rather than fabricating one. FY2025 employee headcount was not confidently located in the sources reviewed and is therefore omitted from the KPI table.