Bristol-Myers Squibb Company (BMY)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 8,425,000 | 7,695,000 | 8,078,000 | -6,891,000 | 4,954,000 |
| Revenue | US$ in thousands | 45,006,000 | 46,159,000 | 46,385,000 | 42,518,000 | 26,145,000 |
| Pretax margin | 18.72% | 16.67% | 17.42% | -16.21% | 18.95% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $8,425,000K ÷ $45,006,000K
= 18.72%
The pretax margin of Bristol-Myers Squibb Co. has shown fluctuations over the past five years. In 2023, the pretax margin improved to 18.75% from 16.71% in 2022, indicating better efficiency in managing operating expenses relative to revenue before taxes. This suggests improved profitability performance in the most recent year.
In 2021, the pretax margin was 17.46%, showing a slight decrease from 2020 when the margin was -16.16%, which indicates a negative pretax income for that year. This negative pretax margin in 2020 could be a result of significant one-time charges or impairments affecting the company's profitability during that period.
The pretax margin rebounded in 2019 to 19.03%, indicating robust profitability performance compared to the two intervening years. Overall, the trend in pretax margin demonstrates some variability in the company's ability to generate profits before taxes over the past five years, with notable improvements in 2023 and 2019 contrasted with a notably negative performance in 2020.
Peer comparison
Dec 31, 2023