Filing Flows › Bristol Myers Squibb (BMY) › Q4 2025
Bristol Myers Squibb (BMY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 11, 2026
Bristol Myers Squibb (BMY) reported revenue of $12.5B for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +2% from the quarter before. Operating margin was 11.8%, net earnings $1.1B (8.7% of revenue).
Bristol Myers Squibb, Q4 2025: revenue $12.5B (+1% year over year), operating margin 11.8%, net earnings $1.1B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.5B | +2% | +1% |
| Operating profit | $1.5B | -53% | +740% |
| Net earnings | $1.1B | -51% | 14× |
| Operating cash flow | $2.0B | -69% | -56% |
| Free cash flow | $1.6B | -73% | -61% |
What changed
Revenue was $12.5B in Q4 2025, up 1% year over year and up 2% from the previous quarter. Legacy Portfolio was the largest line at 41% of revenue.
Operating profit was $1.5B, a 11.8% margin (up 10.3 points year over year). Of the extra revenue versus a year earlier, 809% reached operating profit, above the 1% margin then. Total costs fell 9% while revenue rose 1%. Net earnings were $1.1B, up 1410% year over year. The effective tax rate was 26.1%.
Operating cash flow was $2.0B (down 56% year over year), 182% of net earnings. Non-cash charges added back $1.0B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.37B left free cash flow of $1.6B.
Questions
What was Bristol Myers Squibb's revenue in the fourth quarter 2025?
Bristol Myers Squibb (BMY) reported revenue of $12.5B for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and +2% from the quarter before.
Was Bristol Myers Squibb profitable in the fourth quarter 2025?
Operating profit was $1.5B (11.8% of revenue) and net earnings $1.1B.