Bristol-Myers Squibb Company BMY

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
66/100
Moderate

Ranked against 19 peers in Drug Manufacturers - General

About Bristol-Myers Squibb Company

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience, and other areas. The company's products include Opdivo for various anti-cancer indications; Opdivo Qvantig, a subcutaneous PD-1 inhibitor for solid tumorsr; Orencia for active rheumatoid arthritis and psoriatic arthritis; Yervoy for the treatment of patients with unresectable … Full BMY analysis →

Key strengths

  • Cost Leadership Position Operating margin at 77.8th percentile with strong OpEx control demonstrates cost leadership.
  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.78), suggesting sticky customer base.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
60
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where BMY ranks in Drug Manufacturers - General

Bristol-Myers Squibb Company ranks #6 of 20 scored companies in Drug Manufacturers - General by moat score — the top 30%. The widest moat in the group is Novo Nordisk A/S (NVO) at 74/100.

# Company Moat score Rating
2 Novartis AG NVS 73/100 Moderate
3 Gilead Sciences, Inc. GILD 70/100 Moderate
4 Merck & Company, Inc. MRK 67/100 Moderate
5 Johnson & Johnson JNJ 67/100 Moderate
6 Bristol-Myers Squibb Company BMY 66/100 Moderate
7 Biogen Inc. BIIB 61/100 Moderate
8 Amgen Inc. AMGN 55/100 Moderate
9 Sanofi SNY 54/100 Moderate
10 Astrazeneca PLC AZN 52/100 Moderate

See every Pharma / Mature Biotech company ranked by moat score →

How BMY scores on the Corporate Default defenses

Pricing Power

Score 60 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 86 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 79 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 56 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 56 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 68 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding BMY's moat

What is Bristol-Myers Squibb Company's moat score?

Bristol-Myers Squibb Company (BMY) scores 66 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #6 of 20 scored companies in Drug Manufacturers - General, the top 30%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 19 companies in Drug Manufacturers - General. Its strongest defense is Cost Advantage (86/100) and its weakest is Capital Efficiency (56/100).

How does Bristol-Myers Squibb Company compare with other Drug Manufacturers - General companies?

Bristol-Myers Squibb Company ranks #6 of 20 scored companies in Drug Manufacturers - General by moat score. The widest moat in Drug Manufacturers - General is Novo Nordisk A/S (NVO) at 74/100. The companies ranked closest are Johnson & Johnson (JNJ) at 66 just above it and Biogen Inc. (BIIB) at 61 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 19 companies in Drug Manufacturers - General. The defenses are then weighted to produce the overall score out of 100.

Why is Bristol-Myers Squibb Company scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Bristol-Myers Squibb Company?

The Corporate Default template measures 6 defenses, and BMY scores: Pricing Power (60), Cost Advantage (86), Customer Stickiness (79), Capital Efficiency (56), Resilience (56), Scale & Market Position (68). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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