Debt-to-Equity Ratio

BMY’s debt-to-equity ratio of 2.22x means the company uses $2.22 in debt for every $1 of shareholder equity, indicating a higher reliance on borrowed funds to finance its operations compared to a lower-leverage company.

That level sits far above the healthcare sector median of 0.46x, placing BMY in the 92nd percentile among its peers—meaning it carries more debt than 92% of similar firms. Because both the year-over-year and quarter-over-quarter changes are listed as “N/A,” no trend can be assessed from the single data point provided, so the analysis rests entirely on the current elevated level. The combination of a very high debt load with no available trend introduces risk: the company’s financial flexibility may be limited, and its interest costs could pressure earnings if cash flows weaken. This metric directly supports the overall CAUTIOUS verdict, as the high leverage relative to peers signals increased financial risk that warrants a careful stance.

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