Bristol-Myers Squibb Company vs VERTEX PHARMACEUTICALS INC / MA, two Drug Manufacturers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Vertex's balance sheet holds no debt and three dollars current for every one due; Bristol Myers carries 2.31 turns of debt against equity, the residue of acquisition-led pipeline repair. The leverage buys Bristol scale and yield, a 10.1% free-cash yield with a 4.3% dividend at 16.1 times earnings; the austerity buys Vertex control, a 38.1% operating margin franchise priced at 29.2 times with everything reinvested. Returns on assets favor the unlevered one, 16.4% against 8.4%. These are the two ways pharma survives patent mortality: buy replacements with borrowed money at a discount multiple, or own a franchise so defensible the mortality clock runs slower. The thirteen-turn multiple gap prices exactly that difference in clocks.
Comparison updated 2026-07-10.
| Metric | BMY | VRTX |
|---|---|---|
| Price | $57.50 | $491.10 |
| Market cap | $117.7B | $125.9B |
| Sector | Drug Manufacturers | Drug Manufacturers |
| Stage | Mature | Mature |
| Implied growth (priced in) | — | +19.8% |
| P/E | 16.1 | 29.1 |
| P/B | 5.86 | 6.50 |
| P/S | 2.43 | 10.30 |
| EV/EBITDA | 43.0 | 24.6 |
| Revenue growth | +1.8% | +10.1% |
| Operating margin | — | 38.1% |
| Net margin | 15.0% | 35.5% |
| Return on equity | 36.2% | 22.4% |
| Return on assets | 8.4% | 16.4% |
| Return on invested capital | — | 19.9% |
| FCF yield | 10.1% | 3.0% |
| Dividend yield | 4.3% | — |
| Debt / equity | 2.31 | 0.00 |
| Current ratio | 1.42 | 3.02 |
| Altman Z (solvency) | 2.03 | 7.73 |
| Piotroski F (quality) | 5 / 9 | 6 / 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.