Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $46.4B | $46.2B | $45.0B | $48.3B | $48.2B |
| YoY | — | -0.5% | -2.5% | +7.3% | -0.2% |
| Cost of goods sold | $9.9B | $10.1B | $10.7B | $14.0B | $13.9B |
| YoY | — | +2.0% | +5.5% | +30.6% | -0.2% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $10.2B | $9.5B | $9.3B | $11.2B | $10.0B |
| YoY | — | -6.7% | -2.2% | +20.0% | -10.8% |
| Selling, general & administrative | $7.7B | $7.8B | $7.8B | $8.4B | $7.3B |
| YoY | — | +1.6% | -0.5% | +8.3% | -13.6% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $8.1B | $7.7B | $8.4B | $-8.4B | $9.3B |
| YoY | — | -4.8% | +9.4% | -199.3% | +211.3% |
| Income tax | $1.1B | $1.4B | $400.0M | $554.0M | $2.3B |
| YoY | — | +26.2% | -70.8% | +38.5% | +310.1% |
| Net income | $7.0B | $6.3B | $8.0B | $-8.9B | $7.1B |
| YoY | — | -9.5% | +26.8% | -211.5% | +178.8% |
| EPS — basic | $3.15 | $2.97 | $3.88 | $-4.41 | $3.47 |
| YoY | — | -5.7% | +30.6% | -213.7% | +178.7% |
| EPS — diluted | $3.12 | $2.95 | $3.86 | $-4.41 | $3.46 |
| YoY | — | -5.4% | +30.8% | -214.2% | +178.5% |
| Weighted shares — basic | 2.22B | 2.13B | 2.07B | 2.03B | 2.03B |
| Weighted shares — diluted | 2.25B | 2.15B | 2.08B | 2.03B | 2.04B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $14.0B | $9.1B | $11.5B | $10.3B | $10.2B |
| YoY | — | -34.7% | +25.7% | -9.8% | -1.3% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $8.0B | $8.2B | $8.9B | $9.0B | $9.6B |
| YoY | — | +2.2% | +9.0% | +1.5% | +6.4% |
| Inventory | $2.1B | $2.3B | $2.7B | $2.6B | $2.7B |
| YoY | — | +11.6% | +13.8% | -3.9% | +5.2% |
| Total current assets | $33.3B | $27.3B | $31.8B | $29.8B | $29.4B |
| YoY | — | -18.0% | +16.5% | -6.3% | -1.3% |
| Total assets | $109.3B | $96.8B | $95.2B | $92.6B | $90.0B |
| YoY | — | -11.4% | -1.7% | -2.7% | -2.8% |
| Total current liabilities | $21.9B | $21.9B | $22.3B | $23.8B | $23.4B |
| YoY | — | +0.1% | +1.7% | +6.8% | -1.5% |
| Total liabilities | $73.3B | $65.7B | $65.7B | $76.2B | $71.5B |
| YoY | — | -10.4% | -0.0% | +16.1% | -6.1% |
| Total equity | $35.9B | $31.1B | $29.4B | $16.3B | $18.5B |
| YoY | — | -13.6% | -5.3% | -44.5% | +13.1% |
| Shares outstanding | — | — | — | — | — |
| YoY | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $16.2B | $13.1B | $13.9B | $15.2B | $14.2B |
| YoY | — | -19.4% | +6.1% | +9.6% | -6.8% |
| Capital expenditures | $973.0M | $1.1B | $1.2B | $1.2B | $1.3B |
| YoY | — | +14.9% | +8.1% | +3.2% | +5.0% |
| Free cash flow | $15.2B | $11.9B | $12.7B | $13.9B | $12.8B |
| YoY | — | -21.6% | +5.9% | +10.2% | -7.9% |
| Dividends paid | $4.4B | $4.6B | $4.7B | $4.9B | $5.0B |
| YoY | — | +5.4% | +2.4% | +2.5% | +3.7% |
| Share repurchases | $6.3B | $8.0B | $5.2B | $0 | $0 |
| YoY | — | +27.3% | -35.6% | -100.0% | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 15.1% | 13.7% | 17.8% | -18.5% | 14.6% |
| Free cash flow margin | 32.8% | 25.9% | 28.1% | 28.9% | 26.7% |
| Effective tax rate | 13.4% | 17.7% | 4.7% | -6.6% | 24.4% |
| Current ratio | 1.52x | 1.25x | 1.43x | 1.25x | 1.26x |
| Total liabilities / equity | 2.04x | 2.12x | 2.23x | 4.67x | 3.87x |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| BMY FY25 · this stock | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.