Bristol-Myers Squibb Company vs NOVO NORDISK A/S, two Drug Manufacturers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Novo Nordisk's 41.3% operating margin against Bristol Myers' unlisted one, with net margins of 33.1% against 15%, frames the strangest fact on this page: the multiples nearly touch, 14.2 and 16.1 times earnings. The market has decided a GLP-1 franchise facing competition and a big pharma facing patent cliffs deserve the same discount rack. The capital structures disagree more than the prices: Novo debt-free, Bristol at 2.31 turns of equity, its 36.2% return on equity partly that leverage talking. Bristol pays 4.3% in dividends and yields 10.1% in free cash, trough-priced compensation; Novo yields 4.1% and reinvests. Two cheap pharma multiples, one bought with leverage and yield, the other with margins and fear.
Comparison updated 2026-07-10.
| Metric | BMY | NVO |
|---|---|---|
| Price | $57.50 | $48.01 |
| Market cap | $117.7B | $213.3B |
| Sector | Drug Manufacturers | Drug Manufacturers |
| Stage | Mature | Growth |
| P/E | 16.1 | 14.2 |
| P/B | 5.86 | 7.47 |
| P/S | 2.43 | 4.69 |
| EV/EBITDA | 43.0 | 10.0 |
| Revenue growth | +1.8% | +22.1% |
| Gross margin | — | 81.0% |
| Operating margin | — | 41.3% |
| Net margin | 15.0% | 33.1% |
| Return on equity | 36.2% | 52.8% |
| Return on assets | 8.4% | 18.9% |
| Return on invested capital | — | 51.6% |
| FCF yield | 10.1% | 4.1% |
| Dividend yield | 4.3% | — |
| Debt / equity | 2.31 | 0.00 |
| Current ratio | 1.42 | 0.80 |
| Altman Z (solvency) | 2.03 | 4.25 |
| Piotroski F (quality) | 5 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.