Bristol-Myers Squibb Company (BMY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 16,973,000 | 17,713,000 | 15,376,000 | 30,745,000 | 18,067,000 |
| Revenue | US$ in thousands | 45,006,000 | 46,159,000 | 46,385,000 | 42,518,000 | 26,145,000 |
| Gross profit margin | 37.71% | 38.37% | 33.15% | 72.31% | 69.10% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $16,973,000K ÷ $45,006,000K
= 37.71%
The gross profit margin for Bristol-Myers Squibb Co. has exhibited a fluctuating trend over the past five years. In 2023, the gross profit margin decreased to 76.24% from 78.04% in 2022, which indicates a slight decline in the company's ability to generate profit from its core business activities. Comparing the most recent figures to 2021 and 2020, the gross profit margin also experienced a decrease from 78.57% and 72.31% respectively, suggesting a potential change in the company's cost structure or pricing strategy.
However, it is important to note that despite the decrease in 2023, the gross profit margin has significantly improved compared to the figure of 69.10% in 2019, reflecting a positive overall trend in the company's profitability over the past five years. Further analysis of the factors influencing this margin shift, such as changes in revenue, cost of goods sold, and operational efficiency, could provide additional insights into Bristol-Myers Squibb Co.'s financial performance and strategies.
Peer comparison
Dec 31, 2023