AstraZeneca vs Bristol Myers Squibb
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The short version
- AstraZeneca is the larger business, with $58.7B of revenue in fiscal 2025 against $48.2B for Bristol Myers Squibb.
- AstraZeneca grew revenue faster (8.6%, against −0.2%).
- Bristol Myers Squibb turned more of its sales into free cash flow (26.7% FCF margin, against 20.0%).
- AstraZeneca earned a higher return on the capital invested in it (16.8%, against 15.2%).
| Latest fiscal year | AZN · FY25 | BMY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $267.9B | $125.9B |
| Revenue | $58.7B | $48.2B |
| Free cash flow | $11.8B | $12.8B |
| Net income | $10.2B | $7.1B |
| Growth | ||
| Revenue growth | 8.6% | −0.2% |
| 5-year growth | 17.2% | 2.5% |
| Share count change | −0.1% | 0.6% |
| Profitability | ||
| Gross margin | 81.9% | 71.1% |
| Operating margin | 23.4% | — |
| Net margin | 17.4% | 14.6% |
| FCF margin | 20.0% | 26.7% |
| Return on capital | 16.8% | 15.2% |
| Return on equity | 22.9% | 40.5% |
| Balance sheet | ||
| Net debt | $22.1B | $36.4B |
| Net debt / EBITDA | — | 2.4x |
| Dividends and buybacks | $5.5B | $5.0B |
| Valuation & quality | ||
| P/E | — | 13.5x |
| Piotroski F-score | 9 | 8 |
FY16
AZN $23.0B
BMY $19.4B
FY17
AZN $22.5B
BMY $20.8B
FY18
AZN $22.1B
BMY $22.6B
FY19
AZN $24.4B
BMY $26.1B
FY20
AZN $26.6B
BMY $42.5B
FY21
AZN $37.4B
BMY $46.4B
FY22
AZN $44.4B
BMY $46.2B
FY23
AZN $45.8B
BMY $45.0B
FY24
AZN $54.1B
BMY $48.3B
FY25
AZN $58.7B
BMY $48.2B
AZN
BMY
FY16
AZN 21.3%
BMY —
FY17
AZN 16.4%
BMY —
FY18
AZN 15.3%
BMY —
FY19
AZN 12.0%
BMY —
FY20
AZN 19.4%
BMY —
FY21
AZN 2.8%
BMY —
FY22
AZN 8.5%
BMY —
FY23
AZN 17.9%
BMY —
FY24
AZN 18.5%
BMY —
FY25
AZN 23.4%
BMY —
AZN
BMY
FY16
AZN $2.7B
BMY $1.8B
FY17
AZN $2.3B
BMY $4.2B
FY18
AZN $1.6B
BMY $6.1B
FY19
AZN $2.0B
BMY $7.4B
FY20
AZN $3.8B
BMY $13.3B
FY21
AZN $4.9B
BMY $15.2B
FY22
AZN $8.7B
BMY $11.9B
FY23
AZN $9.0B
BMY $12.7B
FY24
AZN $9.9B
BMY $13.9B
FY25
AZN $11.8B
BMY $12.8B
AZN
BMY
FY16
AZN 17.3%
BMY 27.7%
FY17
AZN 12.8%
BMY 18.0%
FY18
AZN 11.8%
BMY 37.8%
FY19
AZN 8.7%
BMY 7.9%
FY20
AZN 15.6%
BMY −5.4%
FY21
AZN 1.9%
BMY 11.4%
FY22
AZN 6.2%
BMY 11.0%
FY23
AZN 11.8%
BMY 14.7%
FY24
AZN 13.0%
BMY −8.7%
FY25
AZN 16.8%
BMY 15.2%
AZN
BMY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.