Bristol-Myers Squibb Company FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$48.2B
Gross margin	71.1%
Operating income	— not reported
Net income	$7.1B
Diluted EPS	$3.46
Cash & equivalents	$10.2B
Total assets	$90.0B
Long-term debt	$44.8B

Key takeaway

Revenue was essentially flat year-over-year at $48.2 billion versus $48.3 billion in 2024, showing limited top-line growth.

🔒 4 more takeaways in the full analysis

Beneath the surface

Despite $10.2 billion of cash, net debt remains substantial at roughly $34.6 billion ($44.8B long-term debt minus cash), and total debt including current portion ($2.26B) is even higher, indicating meaningful leverage relative to liquidity.

🔒 3 more insights a headline reader would miss