AstraZeneca vs Bristol Myers Squibb
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KIRA’s take AI analyst
I put AstraZeneca and Bristol Myers Squibb side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
AstraZeneca
AZN
7/9
Revenue growth5-year growthGross marginNet marginReturn on capitalPiotroski F-scoreShare count change
Bristol Myers Squibb
BMY
2/9
FCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | AZN FY25 | BMY FY25 |
|---|---|---|
| Size | ||
| Market cap | $268.8B | $126.2B |
| 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 | — | 13.6x |
| Piotroski F-score | 9 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

