Bristol-Myers Squibb Company (BMY) analysis

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Health is the debt acquisitions left, not the balance sheet of a lab with no deal history. Quality separates Bristol's piece of Eliquis from Opdivo's margin, which competes. Growth follows whatever replaces what loses exclusivity, not the old portfolio. P/E is read against a year of a live patent, not against that year as normal. Shareholder return is the dividend, checked against cash. Do not call it a predictable dividend.

The P/E of a year before the patent lapses is not the earnings after. EV/EBITDA is read without treating the Eliquis sale as if it were all Bristol's. Do not use Merck's multiple as if Keytruda and Opdivo were the same book. A dash if BMY is missing.

Limits of this report

Not advice on Bristol-Myers. Vaultflake does not date the loss of exclusivity or treat the dividend as safe. Read the filings. A past dividend is not a right. The table is a snapshot, not a target price.

Questions from this report