Market Pulse50Neutral

Bristol-Myers Squibb CompanyOpportunity Rank #149(BMY) Intrinsic Value & DCF Analysis (2026)

Sector: Healthcare

Current Price

$57.00

Last updated: Mar 24, 2026

Price vs Intrinsic Value

$57.00
Price
$133.16
Intrinsic Value
Undervalued by 134%MOS: $106.53

Fundamental Score

50/100
Bearish

Weighted across 6 signals

Narrative Score

80/100
Strong

+4 vs previous

The intrinsic value of Bristol-Myers Squibb Company (BMY) is estimated at $133.16 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $57.00, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.30% long-term growth rate and an 8.50% discount rate (calculated: 6.51%), reflecting expected future free cash flow and cost of capital.

The intrinsic value of Bristol-Myers Squibb Company (BMY) is estimated at $133.16 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $57.00, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.30% long-term growth rate and an 8.50% discount rate (calculated: 6.51%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$133.16
▲ 133.61% upside
20% margin of safety: $106.53
Years: 10Growth Rate: 5.30%
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Capital Efficiency

Average Quarterly ROIC
3.8%
Cost of Capital (estimated)11%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

50/100
BearishWeighted across 6 signals
DCF Discount
133.6% discount to price
100
FCF Yield
13.3% trailing FCF yield
100
ROIC vs WACC
ROIC 3.8% vs WACC 11.0% (0.3x)
17
Net Debt / FCF
2.2x net debt to FCF
23
Buybacks
Share count growing
30
FCF CAGR (5Y)
0.9% 5Y FCF CAGR
25
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC, Net Debt / FCF.

Narrative Details

80/100
Strong
+4 vs previous · +1 new driversVs 6-Month Baseline:High (92nd pct)Weighted across 6 recent drivers
Trend: StableConfidence: 97%Updated: 1h ago
Sources: 143 (132 News · 11 Analyst)
Drivers(last 30 days)
94 news sentiment+2.4
33 regulatory scrutiny+0.6
Upgrade headlines+0.0
2 earnings beat+0.0
Promotions/discounting+0.0
Downgrade headlines+0.0

Investment Coach

Updated 12h ago
BUYConfidence: 55%
Thesis
Bristol-Myers Squibb Company is undervalued with an estimated fair value 141% above its current price, supported by a strong free cash flow yield of 13.3% and an improving narrative score. Despite trailing returns relative to its cost of capital, the company's valuation and cash flow metrics suggest significant upside potential.
Key Risk
The key risk is the company's return on invested capital remaining below its weighted average cost of capital, which could limit value creation.
Signals To Watch
  • Monitor whether valuation discount remains above 10%.
  • Track ROIC vs WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in the score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 5.30%5 Year CAGR (Adjusted): -1.07%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$15,467$15,467$16,438$15,069$14,184$17,180$14,805$9,046$8,017$6,330$4,273$2,925$3,674$4,082$7,489$5,207$4,915$4,795$4,648$3,996$2,876

How Intrinziq Estimates Fair Value

Intrinziq estimates Bristol-Myers Squibb Company's intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

Bristol-Myers Squibb CompanyHealthcare

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis. It also provides Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia; Yervoy for the treatment of patients with unresectable or metastatic melanoma; Abraxane, a protein-bound chemotherapy product; Reblozyl for the treatment of anemia in adult patients with beta thalassemia; and Empliciti for the treatment of multiple myeloma. In addition, the company offers Zeposia to treat relapsing forms of multiple sclerosis; Breyanzi, a CD19-directed genetically modified autologous T cell immunotherapy for the treatment of adult patients with relapsed or refractory large B-cell lymphoma; Inrebic, an oral kinase inhibitor indicated for the treatment of adult patients with myelofibrosis; and Onureg for the treatment of adult patients with AML. It sells products to wholesalers, distributors, pharmacies, retailers, hospitals, clinics, and government agencies. The company was formerly known as Bristol-Myers Company. The company was founded in 1887 and is headquartered in New York, New York.