Bristol Myers Squibb vs Teva Pharmaceuticals
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KIRA’s take AI analyst
I put Bristol Myers Squibb and Teva Pharmaceuticals side by side, using each one’s latest annual report. Here is what stands out:
- Bristol Myers Squibb is the larger business, with $48.2B of revenue in fiscal 2025 against $17.3B for Teva Pharmaceuticals, about 2.8 times as much.
- Teva Pharmaceuticals grew revenue faster (4.3%, against −0.2%).
- Bristol Myers Squibb turned more of its sales into free cash flow (26.7% FCF margin, against 6.7%).
- Bristol Myers Squibb earned a higher return on the capital invested in it (15.2%, against 10.5%).
- Investors pay more for each dollar of Teva Pharmaceuticals’s earnings: a P/E of 65.7x against 13.5x for Bristol Myers Squibb.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Bristol Myers Squibb
BMY
8/10
5-year growthGross marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Teva Pharmaceuticals
TEVA
1/10
Revenue growth
Side by side
Best in the row
| Latest fiscal year | BMY FY25 | TEVA FY25 |
|---|---|---|
| Size | ||
| Market cap | $125.9B | $45.9B |
| Revenue | $48.2B | $17.3B |
| Free cash flow | $12.8B | $1.1B |
| Net income | $7.1B | $1.4B |
| Growth | ||
| Revenue growth | −0.2% | 4.3% |
| 5-year growth | 2.5% | 0.7% |
| Share count change | 0.6% | 2.8% |
| Profitability | ||
| Gross margin | 71.1% | 51.8% |
| Operating margin | — | 12.5% |
| Net margin | 14.6% | 8.2% |
| FCF margin | 26.7% | 6.7% |
| Return on capital | 15.2% | 10.5% |
| Return on equity | 40.5% | 21.2% |
| Balance sheet | ||
| Net debt | $36.4B | $13.3B |
| Net debt / EBITDA | 2.4x | 4.2x |
| Dividends and buybacks | $5.0B | $0.0M |
| Valuation & quality | ||
| P/E | 13.5x | 65.7x |
| Piotroski F-score | 8 | 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.