NYSE : BDX
Becton, Dickinson and Company — Financial statements
Healthcare · Medical Instruments & Supplies · United States
Last price 197.88 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 53.90B
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Financial statements
Becton, Dickinson and Company (BDX) reported revenue of 22.48B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 22.48B | 21.84B | 20.18B | 19.37B | 18.87B | 19.13B |
| Cost of Revenue | 11.93B | 11.58B | 11.05B | 11.20B | 10.33B | 10.31B |
| Gross Profit | 10.55B | 10.26B | 9.12B | 8.17B | 8.54B | 8.82B |
| Selling, General & Admin | 5.64B | 5.36B | 4.92B | 4.82B | 4.73B | 4.72B |
| Research & Development | 1.27B | 1.24B | 1.19B | 1.24B | 1.26B | 1.28B |
| Other Operating Expenses | -29.00M | 2.00M | 166.00M | -14.00M | -4.00M | |
| Operating Expenses | 6.88B | 6.60B | 6.28B | 6.04B | 5.98B | 6.00B |
| Operating Income | 3.67B | 3.66B | 2.85B | 2.13B | 2.56B | 2.82B |
| Interest Expense | -589.00M | -613.00M | -528.00M | -452.00M | -398.00M | -469.00M |
| Interest & Investment Income | 23.00M | 38.00M | 163.00M | 49.00M | 16.00M | 9.00M |
| Currency Exchange Gain (Loss) | -47.00M | -47.00M | -47.00M | -36.00M | -28.00M | -13.00M |
| Other Non Operating Income (Expenses) | 210.00M | 28.00M | 53.00M | 32.00M | -47.00M | 36.00M |
| EBT Excluding Unusual Items | 3.27B | 3.07B | 2.49B | 1.72B | 2.11B | 2.38B |
| Merger & Restructuring Charges | -859.00M | -744.00M | -458.00M | -313.00M | -192.00M | -179.00M |
| Gain (Loss) on Sale of Investments | -5.00M | -5.00M | 5.00M | -3.00M | -35.00M | 57.00M |
| Gain (Loss) on Sale of Assets | 268.00M | 158.00M | ||||
| Asset Writedown | -30.00M | -30.00M | -65.00M | -133.00M | ||
| Legal Settlements | -308.00M | -297.00M | -43.00M | -58.00M | -21.00M | -361.00M |
| Other Unusual Items | -184.00M | -111.00M | 13.00M | 45.00M | -11.00M | -234.00M |
| Pretax Income | 1.88B | 1.88B | 2.00B | 1.66B | 1.78B | 1.69B |
| Income Tax Expense | 231.00M | 203.00M | 300.00M | 132.00M | 148.00M | 88.00M |
| Earnings From Continuing Operations | 1.65B | 1.68B | 1.71B | 1.53B | 1.64B | 1.60B |
| Earnings From Discontinued Operations | -706.00M | -46.00M | 144.00M | 488.00M | ||
| Net Income | 942.00M | 1.68B | 1.71B | 1.48B | 1.78B | 2.09B |
| Preferred Dividends & Other Adjustments | 60.00M | 90.00M | 90.00M | |||
| Net Income to Common | 942.00M | 1.68B | 1.71B | 1.42B | 1.69B | 2.00B |
| Shares Outstanding (Basic) | 281.90M | 287.65M | 289.76M | 286.28M | 285.00M | 289.29M |
| Shares Outstanding (Diluted) | 283.19M | 288.51M | 291.01M | 288.39M | 287.36M | 292.09M |
| EPS (Basic) | 3.34 | 5.83 | 5.88 | 4.97 | 5.93 | 6.92 |
| EPS (Diluted) | 3.33 | 5.82 | 5.86 | 4.94 | 5.88 | 6.85 |
| Free Cash Flow | 2.59B | 2.67B | 3.07B | 2.12B | 1.66B | 3.45B |
| Free Cash Flow Per Share | 9.14 | 9.25 | 10.56 | 7.33 | 5.78 | 11.82 |
| Dividend Per Share | 4.19 | 4.16 | 3.80 | 3.64 | 3.48 | 3.32 |
| Gross Margin | 46.94% | 46.98% | 45.22% | 42.17% | 45.27% | 46.10% |
| Operating Margin | 16.31% | 16.77% | 14.11% | 11.00% | 13.59% | 14.75% |
| Profit Margin | 4.19% | 7.68% | 8.45% | 7.35% | 8.95% | 10.46% |
| Free Cash Flow Margin | 11.52% | 12.22% | 15.23% | 10.92% | 8.80% | 18.05% |
| EBITDA | 6.12B | 6.12B | 5.13B | 4.42B | 4.79B | 5.05B |
| EBITDA Margin | 27.22% | 28.04% | 25.44% | 22.81% | 25.40% | 26.40% |
| D&A For EBITDA | 2.45B | 2.46B | 2.29B | 2.29B | 2.23B | 2.23B |
| EBIT | 3.67B | 3.66B | 2.85B | 2.13B | 2.56B | 2.82B |
| EBIT Margin | 16.31% | 16.77% | 14.11% | 11.00% | 13.59% | 14.75% |
| Effective Tax Rate | 12.29% | 10.79% | 14.96% | 7.94% | 8.30% | 5.20% |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 708.00M | 641.00M | 1.72B | 1.42B | 1.01B | 2.28B |
| Short-Term Investments | 1.00M | 8.00M | 445.00M | 8.00M | 8.00M | 12.00M |
| Cash & Short-Term Investments | 709.00M | 649.00M | 2.16B | 1.42B | 1.01B | 2.29B |
| Receivables | 2.36B | 2.99B | 3.03B | 2.53B | 2.19B | 2.35B |
| Inventory | 3.32B | 3.89B | 3.84B | 3.27B | 3.22B | 2.74B |
| Prepaid Expenses | 1.59B | 1.51B | 1.29B | 1.38B | 1.56B | 1.05B |
| Restricted Cash | 155.00M | 210.00M | 139.00M | 65.00M | 153.00M | 109.00M |
| Other Current Assets | -1.00M | 293.00M | ||||
| Total Current Assets | 8.14B | 9.26B | 10.47B | 8.68B | 8.14B | 8.84B |
| Property, Plant & Equipment | 6.08B | 7.88B | 7.70B | 7.07B | 6.49B | 6.45B |
| Goodwill | 25.94B | 26.61B | 26.46B | 24.52B | 24.62B | 23.89B |
| Other Intangible Assets | 8.02B | 9.40B | 10.92B | 10.95B | 12.31B | 12.77B |
| Long-Term Deferred Tax Assets | 1.74B | 1.50B | 1.54B | 1.24B | 1.33B | |
| Other Long-Term Assets | 2.54B | 431.00M | 241.00M | 18.00M | 126.00M | 586.00M |
| Total Assets | 50.73B | 55.33B | 57.29B | 52.78B | 52.93B | 53.87B |
| Accounts Payable | 1.97B | 1.90B | 1.64B | 1.70B | 1.74B | |
| Accrued Expenses | 3.83B | 4.10B | 3.19B | 3.66B | 3.93B | |
| Current Portion of Long-Term Debt | 3.30B | 1.56B | 2.17B | 1.14B | 2.18B | 500.00M |
| Current Portion of Leases | 135.00M | 142.00M | 117.00M | 118.00M | 126.00M | |
| Current Income Taxes Payable | 329.00M | 168.00M | 139.00M | 157.00M | 178.00M | |
| Current Unearned Revenue | 334.00M | 481.00M | 482.00M | 412.00M | ||
| Other Current Liabilities | 5.77B | 1.00M | 1.00M | 156.00M | ||
| Total Current Liabilities | 9.40B | 8.31B | 8.96B | 6.64B | 7.81B | 6.63B |
| Long-Term Debt | 13.51B | 17.62B | 17.94B | 14.74B | 13.89B | 17.11B |
| Long-Term Leases | 704.00M | 667.00M | 414.00M | 384.00M | 344.00M | |
| Pension & Post-Retirement Benefits | 1.00B | 1.07B | 942.00M | 1.02B | 902.00M | 1.23B |
| Long-Term Deferred Tax Liabilities | 2.39B | 1.77B | 2.07B | 2.35B | 2.57B | 2.37B |
| Other Long-Term Liabilities | 1.00M | 457.00M | 824.00M | 1.82B | 2.10B | 2.52B |
| Total Liabilities | 26.32B | 29.93B | 31.40B | 26.98B | 27.65B | 30.19B |
| Common Stock | 371.00M | 371.00M | 371.00M | 371.00M | 365.00M | 365.00M |
| Additional Paid-In Capital | 20.22B | 20.07B | 19.89B | 19.72B | 19.55B | 19.27B |
| Retained Earnings | 17.51B | 16.62B | 16.14B | 15.54B | 15.16B | 13.83B |
| Treasury Stock | -12.06B | -9.81B | -8.81B | -8.30B | -8.33B | -7.72B |
| Comprehensive Income & Other | -1.62B | -1.87B | -1.71B | -1.52B | -1.47B | -2.06B |
| Total Common Equity | 24.42B | 25.39B | 25.89B | 25.80B | 25.28B | 23.68B |
| Shareholders' Equity | 24.42B | 25.39B | 25.89B | 25.80B | 25.28B | 23.68B |
| Total Liabilities & Equity | 50.73B | 55.33B | 57.29B | 52.78B | 52.93B | 53.87B |
| Total Debt | 16.81B | 20.02B | 20.92B | 16.41B | 16.57B | 18.08B |
| Net Cash (Debt) | -16.10B | -19.37B | -18.76B | -14.99B | -15.55B | -15.79B |
| Net Cash Per Share | -56.85 | -67.14 | -64.46 | -51.96 | -54.12 | -54.04 |
| Filing Date Shares Outstanding | 272.39M | 285.42M | 289.12M | 290.41M | 283.38M | 284.02M |
| Total Common Shares Outstanding | 272.39M | 285.40M | 289.10M | 290.39M | 283.36M | 284.48M |
| Working Capital | -1.26B | 942.00M | 1.51B | 2.04B | 330.00M | 2.21B |
| Book Value Per Share | 89.64 | 88.96 | 89.55 | 88.83 | 89.22 | 83.22 |
| Tangible Book Value | -9.55B | -10.63B | -11.49B | -9.67B | -11.65B | -12.98B |
| Tangible Book Value Per Share | -35.06 | -37.24 | -39.75 | -33.31 | -41.12 | -45.64 |
| Land | 128.00M | 129.00M | 131.00M | 127.00M | 133.00M | |
| Buildings | 3.90B | 3.73B | 3.54B | 3.25B | 3.14B | |
| Machinery | 10.76B | 10.20B | 9.61B | 8.77B | 8.59B | |
| Leasehold Improvements | 331.00M | 320.00M | 301.00M | 266.00M | 234.00M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 942.00M | 1.68B | 1.71B | 1.48B | 1.78B | 2.09B |
| Depreciation & Amortization | 2.45B | 2.46B | 2.29B | 2.29B | 2.23B | 2.23B |
| Loss (Gain) From Sale of Assets | -268.00M | |||||
| Stock-Based Compensation | 283.00M | 258.00M | 247.00M | 259.00M | 233.00M | 229.00M |
| Other Operating Activities | 250.00M | -168.00M | -687.00M | -143.00M | -262.00M | -772.00M |
| Change in Accounts Receivable | 71.00M | 71.00M | -453.00M | -290.00M | 32.00M | -61.00M |
| Change in Inventory | -410.00M | -410.00M | 98.00M | -15.00M | -631.00M | -83.00M |
| Change in Accounts Payable | -185.00M | -185.00M | 625.00M | -517.00M | -473.00M | 660.00M |
| Change in Other Net Operating Assets | 102.00M | -276.00M | 23.00M | 192.00M | -436.00M | -184.00M |
| Operating Cash Flow | 3.34B | 3.43B | 3.80B | 2.99B | 2.63B | 4.65B |
| Capital Expenditures | -753.00M | -760.00M | -725.00M | -874.00M | -973.00M | -1.19B |
| Cash Acquisitions | -35.00M | -3.92B | -2.07B | -508.00M | ||
| Divestitures | 540.00M | |||||
| Investment in Securities | 41.00M | 422.00M | -421.00M | |||
| Other Investing Activities | -349.00M | -480.00M | -444.00M | -382.00M | -188.00M | -178.00M |
| Investing Cash Flow | -1.10B | -818.00M | -5.51B | -716.00M | -3.23B | -1.88B |
| Short-Term Debt Issued | 455.00M | 400.00M | 230.00M | |||
| Long-Term Debt Issued | 4.52B | 1.66B | 497.00M | 4.87B | ||
| Total Debt Issued | 1.06B | 455.00M | 4.92B | 1.66B | 727.00M | 4.87B |
| Short-Term Debt Repaid | -230.00M | |||||
| Long-Term Debt Repaid | -1.79B | -1.14B | -2.15B | -805.00M | -5.11B | |
| Total Debt Repaid | -3.28B | -1.79B | -1.14B | -2.38B | -805.00M | -5.11B |
| Net Debt Issued (Repaid) | -2.21B | -1.33B | 3.77B | -723.00M | -78.00M | -243.00M |
| Repurchase of Common Stock | -2.50B | -1.00B | -500.00M | -500.00M | -1.75B | |
| Preferred Dividends Paid | -90.00M | -90.00M | ||||
| Common Dividends Paid | -1.17B | -1.20B | -1.10B | -992.00M | -958.00M | |
| Dividends Paid | -1.17B | -1.20B | -1.10B | -1.11B | -1.08B | -1.05B |
| Other Financing Activities | 3.78B | -87.00M | -88.00M | -119.00M | 1.07B | -265.00M |
| Financing Cash Flow | -2.11B | -3.62B | 2.09B | -1.96B | -591.00M | -3.31B |
| Foreign Exchange Rate Adjustments | 7.00M | 4.00M | 5.00M | -45.00M | 15.00M | |
| Miscellaneous Cash Flow Adjustments | -1.00M | -1.00M | ||||
| Net Cash Flow | 146.00M | -1.00B | 375.00M | 322.00M | -1.23B | -525.00M |
| Free Cash Flow | 2.59B | 2.67B | 3.07B | 2.12B | 1.66B | 3.45B |
| Free Cash Flow Margin | 11.52% | 12.22% | 15.23% | 10.92% | 8.80% | 18.05% |
| Free Cash Flow Per Share | 9.14 | 9.25 | 10.56 | 7.33 | 5.78 | 11.82 |
| Levered Free Cash Flow | 4.48B | 3.54B | 3.47B | 2.47B | 1.78B | 3.30B |
| Unlevered Free Cash Flow | 4.85B | 3.93B | 3.80B | 2.75B | 2.03B | 3.60B |
| Cash Interest Paid | 628.00M | 628.00M | 473.00M | 452.00M | 390.00M | 474.00M |
| Cash Income Tax Paid | 599.00M | 599.00M | 653.00M | 629.00M | 532.00M | 671.00M |
| Change in Working Capital | -422.00M | -800.00M | 293.00M | -630.00M | -1.51B | 332.00M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 53.90B | 53.65B | 69.69B | 75.00B | 63.55B | 70.60B |
| Enterprise Value | 70.00B | 72.23B | 83.70B | 90.85B | 77.35B | 85.16B |
| Last Close Price | 197.88 | 143.50 | 181.06 | 191.03 | 162.27 | 172.17 |
| PE Ratio | 59.41 | 31.97 | 40.87 | 52.67 | 37.63 | 35.26 |
| Forward PE | 14.96 | 12.94 | 17.29 | 19.65 | 19.05 | 21.64 |
| PS Ratio | 2.40 | 2.46 | 3.45 | 3.87 | 3.37 | 3.69 |
| PB Ratio | 2.21 | 2.11 | 2.69 | 2.91 | 2.51 | 2.98 |
| P/FCF Ratio | 20.82 | 20.09 | 22.68 | 35.46 | 38.26 | 20.45 |
| P/OCF Ratio | 16.13 | 15.64 | 18.35 | 25.09 | 24.13 | 15.19 |
| PEG Ratio | 1.75 | 2.39 | 1.98 | 2.92 | 3.40 | |
| EV/Sales Ratio | 3.11 | 3.31 | 4.15 | 4.69 | 4.10 | 4.45 |
| EV/EBITDA Ratio | 11.44 | 11.79 | 16.31 | 20.56 | 16.14 | 16.86 |
| EV/EBIT Ratio | 19.08 | 19.73 | 29.40 | 42.65 | 30.17 | 30.19 |
| EV/FCF Ratio | 27.04 | 27.05 | 27.24 | 42.96 | 46.56 | 24.66 |
| Debt / Equity Ratio | 0.69 | 0.79 | 0.81 | 0.64 | 0.66 | 0.76 |
| Debt / EBITDA Ratio | 2.66 | 3.17 | 3.93 | 3.60 | 3.36 | 3.49 |
| Debt / FCF Ratio | 6.49 | 7.50 | 6.81 | 7.76 | 9.97 | 5.24 |
| Net Debt / Equity Ratio | 0.66 | 0.76 | 0.72 | 0.58 | 0.61 | 0.67 |
| Net Debt / EBITDA Ratio | 2.63 | 3.16 | 3.65 | 3.39 | 3.25 | 3.12 |
| Net Debt / FCF Ratio | 6.22 | 7.25 | 6.10 | 7.09 | 9.36 | 4.57 |
| Asset Turnover | 0.43 | 0.39 | 0.37 | 0.37 | 0.35 | 0.35 |
| Inventory Turnover | 3.28 | 2.99 | 3.11 | 3.45 | 3.46 | 3.76 |
| Quick Ratio | 0.33 | 0.44 | 0.58 | 0.60 | 0.41 | 0.70 |
| Current Ratio | 0.86 | 1.11 | 1.17 | 1.31 | 1.04 | 1.33 |
| Return on Equity (ROE) | 6.61% | 6.54% | 6.60% | 5.99% | 6.68% | 6.76% |
| Return on Assets (ROA) | 4.34% | 4.06% | 3.23% | 2.52% | 3.00% | 3.27% |
| Return on Invested Capital (ROIC) | 7.93% | 7.31% | 5.67% | 4.81% | 5.86% | 6.79% |
| Return on Capital Employed (ROCE) | 8.90% | 7.80% | 5.90% | 4.60% | 5.70% | 6.00% |
| Earnings Yield | 1.68% | 3.13% | 2.45% | 1.98% | 2.80% | 2.96% |
| FCF Yield | 4.80% | 4.98% | 4.41% | 2.82% | 2.61% | 4.89% |
| Dividend Yield | 2.12% | 2.21% | 1.58% | 1.41% | 1.55% | 1.34% |
| Payout Ratio | 126.09% | 71.28% | 64.52% | 75.07% | 60.82% | 50.10% |
| Buyback Yield / Dilution | 2.14% | 0.86% | -0.91% | -0.36% | 1.62% | -3.43% |
| Total Shareholder Return | 4.26% | 3.07% | 0.67% | 1.05% | 3.17% | -2.09% |