What is Bristol-Myers Squibb's R&D?

Bristol-Myers Squibb (BMY) reported R&D of $2.65B in Q1 2026.

How has Bristol-Myers Squibb's R&D changed year-over-year?

Bristol-Myers Squibb's R&D increased by 17.4% year-over-year, from $2.26B to $2.65B.

What is the long-term trend for Bristol-Myers Squibb's R&D?

Over 4 years (2021 to 2025), Bristol-Myers Squibb's R&D has grown at a -0.6% compound annual growth rate (CAGR), from $10.2B to $9.95B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Bristol-Myers Squibb BMY R&D

R&D at other companies

Merck & Co.MRK

$12.59B+248%

IncyteINCY

$515.9M+18.0%

Oruka Therapeutics, Inc.ORKA

$29.15M+46.3%

Neurocrine BiosciencesNBIX

$296.2M+12.5%

CytokineticsCYTK

$95.53M-2.8%

ImmunityBio, Inc.IBRX

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Other financials

Income statement

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Revenue$11.5B+2.6%

Gross profit$8.1B-1.2%

Net income$2.7B+9.0%

EPS (diluted)$1.31+9.2%

Balance sheet

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Cash & equivalents$9.6B-12.0%

Total debt$44.7B-10.5%

Total equity$20.1B+15.4%

Total assets$86.5B-6.4%

Cash flow

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Operating cash flow$1.1B-43.5%

CapEx$347.0M+33.5%

Free cash flow$757.0M-55.3%

Valuation

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Market cap$117.66B+25.0%

Enterprise value$152.75B+16.8%

P/E16.2×-2.7×

P/S2.4×+0.5×

Profitability

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Gross margin70.5%0.0pp

Net margin15%+3.8pp

FCF margin24.6%-2.9pp

Returns & leverage

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Return on equity38.8%+7.3pp

Debt / equity2.2×-0.6×

Current ratio1.4×+0.1×

Where this comes from

Reported directly by Bristol-Myers Squibb in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Bristol-Myers Squibb’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Bristol-Myers Squibb's R&D?: Bristol-Myers Squibb (BMY) reported R&D of $2.65B in Q1 2026.
How has Bristol-Myers Squibb's R&D changed year-over-year?: Bristol-Myers Squibb's R&D increased by 17.4% year-over-year, from $2.26B to $2.65B.
What is the long-term trend for Bristol-Myers Squibb's R&D?: Over 4 years (2021 to 2025), Bristol-Myers Squibb's R&D has grown at a -0.6% compound annual growth rate (CAGR), from $10.2B to $9.95B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.