Bristol-Myers Squibb Company (BMY)

Debt-to-equity ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	47,603,000	36,653,000	35,056,000	39,605,000	48,336,000
Total stockholders’ equity	US$ in thousands	16,335,000	29,430,000	31,061,000	35,946,000	37,822,000
Debt-to-equity ratio		2.91	1.25	1.13	1.10	1.28

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $47,603,000K ÷ $16,335,000K
= 2.91

The debt-to-equity ratio for Bristol-Myers Squibb Company has displayed fluctuations over the past five years. As of December 31, 2020, the ratio stood at 1.28, indicating that the company had $1.28 in debt for every $1 of equity. Subsequently, by the end of December 31, 2021, the ratio decreased to 1.10, suggesting a reduction in the level of debt relative to equity.

In the following year as of December 31, 2022, the debt-to-equity ratio slightly increased to 1.13, showing a moderate rise in the proportion of debt compared to equity. This trend continued into December 31, 2023, where the ratio further increased to 1.25, signaling a gradual buildup of debt relative to equity.

The most significant change occurred by December 31, 2024, when the debt-to-equity ratio surged to 2.91. This substantial increase indicates a substantial rise in debt compared to equity, potentially signifying increased leveraging or borrowing by the company.

Overall, the debt-to-equity ratio for Bristol-Myers Squibb Company has fluctuated notably over the five-year period, reflecting varying levels of debt utilization and financial leverage strategies.