Bristol Myers Squibb vs. Pfizer: Consistency vs. Scale in Revenue
Key Points
Pfizer currently generates a higher volume of absolute revenue, while Bristol Myers Squibb displays a more consistent baseline without the recent negative fluctuations seen by the former.
Over the last eight quarters, Pfizer experienced fluctuating quarter-over-quarter results with multiple periods of year-over-year contraction, whereas Bristol Myers Squibb maintained a steadier trajectory characterized by continuous year-over-year growth.
Investors should watch whether Pfizer's recent return to positive year-over-year revenue growth stabilizes in upcoming quarters, or if the two companies see their absolute revenue gap continue to narrow.
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Bristol Myers Squibb: A Steady Upward Revenue Trend
Bristol Myers Squibb (NYSE:BMY) primarily generates revenue by developing and selling prescription medicines for oncology, immunology, and cardiovascular diseases.
It recently received accelerated FDA approval for its multiple myeloma treatment Zenbexus, and it announced a $2.3 billion investment to build a new manufacturing campus in Texas.
Pfizer: A Return to Positive Revenue Growth
Pfizer (NYSE:PFE) primarily generates revenue by manufacturing and distributing a broad portfolio of prescription medicines and vaccines worldwide.
It secured FDA approval for a Tukysa regimen to treat metastatic breast cancer, while it also received authorization for its updated seasonal COVID-19 vaccine for the upcoming season.
Why Revenue Matters for Investors
Revenue here refers to the data provider's standardized income-statement revenue line item, and it helps investors measure raw demand for a company's offerings before deducting expenses.
Bristol Myers Squibb vs. Pfizer Revenue over the last 8 quarters.
Quarterly Revenue for Bristol Myers Squibb and Pfizer
| Calendar quarter | Bristol-Myers Squibb Revenue | Pfizer Revenue |
|---|---|---|
| Q3 2024 | $11.9 billion (quarter ended Sept. 30, 2024) | $17.7 billion (quarter ended Sept. 29, 2024) |
| Q4 2024 | $12.3 billion (quarter ended Dec. 31, 2024) | $17.8 billion (quarter ended Dec. 31, 2024) |
| Q1 2025 | $11.2 billion (quarter ended March 31, 2025) | $13.7 billion (quarter ended March 30, 2025) |
| Q2 2025 | $12.3 billion (quarter ended June 30, 2025) | $14.7 billion (quarter ended June 29, 2025) |
| Q3 2025 | $12.2 billion (quarter ended Sept. 30, 2025) | $16.7 billion (quarter ended Sept. 28, 2025) |
| Q4 2025 | $12.5 billion (quarter ended Dec. 31, 2025) | $17.6 billion (quarter ended Dec. 31, 2025) |
| Q1 2026 | $11.5 billion (quarter ended March 31, 2026) | $14.5 billion (quarter ended March 29, 2026) |
| Q2 2026 | $13.0 billion (quarter ended June 30, 2026) | $15.0 billion (quarter ended June 28, 2026) |
Foolish Take
First off, don't be concerned about the drops in revenue you see in the chart for both companies as you read left to right. That reflects the seasonality of the businesses, which often can be traced back to doctors and patients loading up on prescriptions toward the end of a calendar year, when many patients have met their health insurance deductibles.
Both Bristol Myers Squibb and Pfizer show upward-trending sales in comparable quarters year over year. That is usually a basic trend investors want to see when evaluating a stock to buy.
Bristol Myers Squibb has made positive strides, with its newer growth brands gaining traction and some interesting candidates in the pipeline. The stock is cheap, and that seems to be for good reason. Investors have already priced in much of the upcoming difficulty, which softens the downside but does not make it an obvious buy right now. Bristol Myers Squibb's recovery timeline is hard to predict.
Revenue for the current fiscal year should edge up 3% to $49.9 billion, with a much healthier rise in net income of more than 40% to $11.2 billion.
For its current fiscal year, Pfizer revenue is seen slumping to $62.2 billion mildly, though net income is seen rising $1.2 billion to $8.9 billion for the year. The company had a post-COVID 19 letdown of sorts, as pandemic-related demand ebbed, but the business has been flexing its might this year. In its first quarter of this year, Pfizer beat Wall Street analysts' expectations on sales and net income. That is partly because Pfizer has been buying growth -- it recently acquired oncology specialist Seagen and posted 20% growth in that business's products.
Still, based solely on revenue trends, Bristol Myers Squibb appears to be on the better track.
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Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bristol Myers Squibb and Pfizer. The Motley Fool has a disclosure policy.
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