BMYNYSEhealth care

Bristol-Myers Squibb Company

$59.34上涨+1.76 (+3.06%)

研究复核截至: 2026年7月12日上午12:00 [UTC]

研究概览

Bristol-Myers Squibb Company operates in Pharmaceuticals within the health care sector. This profile tracks its company-specific earnings drivers, valuation conditions, and primary-source risks.

開盤: 57.90
最高: 59.44
最低: 57.54
市值: 1211.77億
本益比: 16.62
52 週高點: --
股息: 4.380%
季度股利金額: --

近 3 个月价格

這裡展示近 3 個月價格走勢，幫助使用者先理解短期結構，再決定是否進入完整研究工作台。

投资论点

基础情景: Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline. The base case remains conditional on loss of exclusivity staying manageable.
多头情景: Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline. Improved manufacturing and site expansion can increase patient throughput for Breyanzi and Abecma. Clinical and regulatory milestones can refresh the portfolio across oncology, immunology and neuroscience.
空头情景: Generic and biosimilar competition can accelerate declines in major legacy products. Clinical setbacks or slow launches could leave growth products unable to replace lost legacy revenue. Acquisition-related debt can constrain flexibility while integration and milestone payments consume cash.
论点失效条件: Reassess the thesis if generic and biosimilar competition can accelerate declines in major legacy products.

关键催化剂

Growth portfolio
Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline.
Cell-therapy capacity
Improved manufacturing and site expansion can increase patient throughput for Breyanzi and Abecma.
Late-stage pipeline
Clinical and regulatory milestones can refresh the portfolio across oncology, immunology and neuroscience.

主要风险

Loss of exclusivity
Generic and biosimilar competition can accelerate declines in major legacy products.
Pipeline replacement risk
Clinical setbacks or slow launches could leave growth products unable to replace lost legacy revenue.
Leverage and capital allocation
Acquisition-related debt can constrain flexibility while integration and milestone payments consume cash.

估值解读

The valuation hinges on whether the growth portfolio can bridge a concentrated period of legacy-product exclusivity losses.
Pipeline value should be discounted for launch execution, clinical attrition and acquisition-related leverage.