BMY Bristol Myers Squibb
fair · 59
Owner-earnings value$76.87
Price$59.28
Margin of safety
+29.7%
Quality gate · 59/100
Median ROIC10.1%
Gross margin70.2%
Net debt / EBITDA2.2x
FCF conversion412%
Share count / yr-0.6%
Profitable years3/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 11.12B |
| Owner-earnings yield | 9.2% |
| Free-cash-flow yield | 9.4% |
| Growth used (normalized) | -1.6% |
| Market-implied growth (reverse DCF) | -7.6% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.0% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 10.94B | -1.6% | 10.04B |
| 2 | 10.82B | -1.1% | 9.11B |
| 3 | 10.76B | -0.6% | 8.31B |
| 4 | 10.75B | -0.1% | 7.62B |
| 5 | 10.80B | 0.4% | 7.02B |
| 6 | 10.90B | 1.0% | 6.50B |
| 7 | 11.06B | 1.5% | 6.05B |
| 8 | 11.28B | 2.0% | 5.66B |
| 9 | 11.56B | 2.5% | 5.32B |
| 10 | 11.91B | 3.0% | 5.03B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~-8%/yr owner-earnings growth over 10y (reverse DCF); model credits -2%. Capped at market + 6pts.