Bristol-Myers Squibb Company (BMY)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Total assets	US$ in thousands	92,603,000	93,670,000	94,646,000	99,031,000	95,159,000	91,263,000	93,489,000	94,281,000	96,820,000	98,196,000	100,357,000	103,034,000	109,314,000	110,893,000	110,797,000	112,435,000	118,481,000	125,536,000	128,076,000	129,285,000
Total stockholders’ equity	US$ in thousands	16,335,000	17,142,000	17,015,000	16,490,000	29,430,000	28,998,000	31,973,000	31,824,000	31,061,000	32,671,000	32,600,000	31,580,000	35,946,000	37,213,000	36,808,000	37,605,000	37,822,000	50,158,000	49,094,000	49,911,000
Financial leverage ratio		5.67	5.46	5.56	6.01	3.23	3.15	2.92	2.96	3.12	3.01	3.08	3.26	3.04	2.98	3.01	2.99	3.13	2.50	2.61	2.59

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $92,603,000K ÷ $16,335,000K
= 5.67

The financial leverage ratio of Bristol-Myers Squibb Company has shown fluctuations over the analyzed period, starting at 2.59 on March 31, 2020, and increasing steadily to reach a peak of 6.01 on March 31, 2024. The ratio then experienced a slight decrease in the following quarters. These numbers indicate that the company has been relying more on debt financing compared to equity, especially in the latter part of the period. Such high levels of leverage may expose the company to greater financial risk and could make it more vulnerable to economic downturns. It is essential for Bristol-Myers Squibb to carefully manage its debt levels to ensure its long-term financial stability and flexibility.