Becton Dickinson & Co Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Becton Dickinson & Co has an operating margin of 11.8%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is down from 11.9% the prior year.
Becton Dickinson & Co's revenue grew 8.2% year-over-year to $21.8B, a solid pace of expansion. This earns a growth score of 52/100.
Becton Dickinson & Co carries a low D/E ratio of 0.69, meaning only $0.69 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
Becton Dickinson & Co's current ratio of 1.11 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.
Becton Dickinson & Co has a free cash flow margin of 12.2%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.
Becton Dickinson & Co generates a 6.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 26/100. This is up from 6.6% the prior year.
Becton Dickinson & Co scores 1.99, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($50.0B) relative to total liabilities ($29.9B). This signals moderate financial risk that warrants monitoring.
Becton Dickinson & Co passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Becton Dickinson & Co generates $2.04 in operating cash flow ($3.4B OCF vs $1.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Becton Dickinson & Co earns $4.2 in operating income for every $1 of interest expense ($2.6B vs $613.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
This page shows Becton Dickinson & Co (BDX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Becton Dickinson & Co generated $21.8B in revenue in fiscal year 2025. This represents an increase of 8.2% from the prior year.
Becton Dickinson & Co's EBITDA was $5.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.6% from the prior year.
Becton Dickinson & Co generated $2.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 14.4% from the prior year.
Becton Dickinson & Co reported $1.7B in net income in fiscal year 2025. This represents a decrease of 1.6% from the prior year.
Becton Dickinson & Co earned $5.82 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 0.7% from the prior year.
Becton Dickinson & Co held $641.0M in cash against $17.6B in long-term debt as of fiscal year 2025.
Becton Dickinson & Co paid $4.16 per share in dividends in fiscal year 2025. This represents an increase of 9.5% from the prior year.
Becton Dickinson & Co had 285M shares outstanding in fiscal year 2025. This represents a decrease of 1.3% from the prior year.
Becton Dickinson & Co's gross margin was 45.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.
Becton Dickinson & Co's operating margin was 11.8% in fiscal year 2025, reflecting core business profitability. This is down 0.1 percentage points from the prior year.
Becton Dickinson & Co's net profit margin was 7.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.
Becton Dickinson & Co's ROE was 6.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Becton Dickinson & Co invested $1.3B in research and development in fiscal year 2025. This represents an increase of 6.3% from the prior year.
Becton Dickinson & Co spent $1.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 100.0% from the prior year.
Becton Dickinson & Co invested $760.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 4.8% from the prior year.
BDX Income Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5K-100.0% | $5.3B-4.7% | $5.5B+4.5% | $5.3B+2.0% | $5.2B+3.6% | $5.0B-1.1% | $5.0B+7.2% | $4.7B |
| Cost of Revenue | $3K-100.0% | $2.8B-1.2% | $2.9B-4.6% | $3.0B+2.8% | $2.9B+9.3% | $2.7B-2.1% | $2.7B+2.3% | $2.7B |
| Gross Profit | $2K-100.0% | $2.4B-8.5% | $2.6B+16.7% | $2.3B+1.0% | $2.2B-3.1% | $2.3B+0.1% | $2.3B+13.7% | $2.0B |
| R&D Expenses | $306-100.0% | $306.0M+3.0% | $297.0M-1.7% | $302.0M-12.0% | $343.0M+14.7% | $299.0M0.0% | $299.0M+3.1% | $290.0M |
| SG&A Expenses | $1K-100.0% | $1.4B+5.5% | $1.3B+3.7% | $1.3B-3.4% | $1.3B+10.2% | $1.2B+0.3% | $1.2B-1.6% | $1.2B |
| Operating Income | $552-100.0% | $552.0M-37.4% | $882.0M+61.5% | $546.0M+20.5% | $453.0M-24.8% | $602.0M-18.0% | $734.0M+67.2% | $439.0M |
| Interest Expense | $153-100.0% | $153.0M+0.7% | $152.0M+0.7% | $151.0M-2.6% | $155.0M+13.1% | $137.0M+9.6% | $125.0M+12.6% | $111.0M |
| Income Tax | $11-100.0% | $11.0M-91.5% | $129.0M+134.5% | $55.0M+1733.3% | $3.0M-76.9% | $13.0M-86.5% | $96.0M+24.7% | $77.0M |
| Net Income | $382-100.0% | $382.0M-33.4% | $574.0M+86.4% | $308.0M+1.7% | $303.0M-37.8% | $487.0M-9.3% | $537.0M+91.1% | $281.0M |
| EPS (Diluted) | $1.340.0% | $1.34-33.0% | $2.00+86.9% | $1.07+2.9% | $1.04-38.1% | $1.68-9.2% | $1.85+92.7% | $0.96 |
BDX Balance Sheet
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $55K-100.0% | $54.8B-0.1% | $54.9B+0.8% | $54.5B-0.4% | $54.7B-4.6% | $57.3B+5.8% | $54.2B+3.6% | $52.3B |
| Current Assets | $9K-100.0% | $9.2B+2.1% | $9.0B+3.8% | $8.7B+0.1% | $8.7B-17.3% | $10.5B+1.2% | $10.3B+26.8% | $8.2B |
| Cash & Equivalents | $740-100.0% | $740.0M+0.7% | $735.0M+10.2% | $667.0M-6.2% | $711.0M-58.6% | $1.7B-26.9% | $2.3B+99.0% | $1.2B |
| Inventory | $4K-100.0% | $4.1B+3.4% | $3.9B+6.1% | $3.7B-3.5% | $3.9B+0.4% | $3.8B+19.0% | $3.2B-2.3% | $3.3B |
| Accounts Receivable | $3K-100.0% | $2.5B-14.8% | $2.9B-2.8% | $3.0B+14.8% | $2.6B-13.0% | $3.0B+18.5% | $2.6B+12.9% | $2.3B |
| Goodwill | $27K-100.0% | $26.6B+0.1% | $26.6B+0.6% | $26.4B+0.4% | $26.3B-0.5% | $26.5B+7.7% | $24.6B-0.1% | $24.6B |
| Total Liabilities | $30K-100.0% | $29.6B+0.4% | $29.4B+0.7% | $29.2B-0.8% | $29.5B-6.2% | $31.4B+10.1% | $28.5B+5.8% | $26.9B |
| Current Liabilities | $9K-100.0% | $8.8B+7.4% | $8.2B+6.1% | $7.7B+0.4% | $7.7B-14.4% | $9.0B+22.2% | $7.3B-2.8% | $7.5B |
| Long-Term Debt | $17K-100.0% | $16.9B-3.5% | $17.5B-0.8% | $17.7B+1.3% | $17.4B-2.8% | $17.9B+12.2% | $16.0B+13.5% | $14.1B |
| Total Equity | $25K-100.0% | $25.3B-0.7% | $25.5B+0.9% | $25.2B+0.1% | $25.2B-2.6% | $25.9B+0.9% | $25.6B+1.2% | $25.3B |
| Retained Earnings | $17K-100.0% | $16.7B+1.7% | $16.4B+1.7% | $16.1B+0.1% | $16.1B0.0% | $16.1B+2.1% | $15.8B+1.7% | $15.5B |
BDX Cash Flow Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $657-100.0% | $657.0M-46.1% | $1.2B+643.3% | $164.0M-76.3% | $693.0M-41.2% | $1.2B+129.2% | $514.0M-39.9% | $855.0M |
| Capital Expenditures | $108-100.0% | $108.0M-37.9% | $174.0M+34.9% | $129.0M+22.9% | $105.0M-64.5% | $296.0M+120.9% | $134.0M+15.5% | $116.0M |
| Free Cash Flow | $549-100.0% | $549.0M-47.5% | $1.0B+2885.7% | $35.0M-94.0% | $588.0M-33.3% | $882.0M+132.1% | $380.0M-48.6% | $739.0M |
| Investing Cash Flow | $183+100.0% | -$183.0M+45.5% | -$336.0M-75.0% | -$192.0M-194.1% | $204.0M+105.2% | -$3.9B-272.8% | -$1.1B-353.2% | -$233.0M |
| Financing Cash Flow | $302+100.0% | -$302.0M+64.1% | -$841.0M-2056.4% | -$39.0M+98.0% | -$1.9B-1654.8% | $124.0M-92.7% | $1.7B+297.8% | -$862.0M |
| Dividends Paid | $299-100.0% | $299.0M0.0% | $299.0M+0.3% | $298.0M-1.3% | $302.0M+9.8% | $275.0M0.0% | $275.0M0.0% | $275.0M |
| Share Buybacks | $250-100.0% | $250.0M | $0 | $0-100.0% | $750.0M | $0 | $0-100.0% | $500.0M |
BDX Financial Ratios
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.9%0.0pp | 45.9%-1.9pp | 47.8%+5.0pp | 42.8%-0.4pp | 43.3%-3.0pp | 46.2%+0.6pp | 45.7%+2.6pp | 43.1% |
| Operating Margin | 10.5%0.0pp | 10.5%-5.5pp | 16.0%+5.6pp | 10.4%+1.6pp | 8.8%-3.3pp | 12.1%-2.5pp | 14.5%+5.2pp | 9.3% |
| Net Margin | 7.3%0.0pp | 7.3%-3.1pp | 10.4%+4.6pp | 5.8%-0.0pp | 5.9%-3.9pp | 9.8%-0.9pp | 10.6%+4.7pp | 6.0% |
| Return on Equity | 1.5%0.0pp | 1.5%-0.7pp | 2.3%+1.0pp | 1.2%+0.0pp | 1.2%-0.7pp | 1.9%-0.2pp | 2.1%+1.0pp | 1.1% |
| Return on Assets | 0.7%0.0pp | 0.7%-0.4pp | 1.1%+0.5pp | 0.6%+0.0pp | 0.5%-0.3pp | 0.9%-0.1pp | 1.0%+0.5pp | 0.5% |
| Current Ratio | 1.050.0 | 1.05-0.1 | 1.10-0.0 | 1.130.0 | 1.13-0.0 | 1.17-0.2 | 1.41+0.3 | 1.08 |
| Debt-to-Equity | 0.670.0 | 0.67-0.0 | 0.69-0.0 | 0.700.0 | 0.690.0 | 0.69+0.1 | 0.62+0.1 | 0.56 |
| FCF Margin | 10.4%0.0pp | 10.4%-8.5pp | 19.0%+18.3pp | 0.7%-10.7pp | 11.4%-11.0pp | 22.4%+14.9pp | 7.5%-8.2pp | 15.7% |
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Frequently Asked Questions
What is Becton Dickinson & Co's annual revenue?
Becton Dickinson & Co (BDX) reported $21.8B in total revenue for fiscal year 2025. This represents a 8.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Becton Dickinson & Co's revenue growing?
Becton Dickinson & Co (BDX) revenue grew by 8.2% year-over-year, from $20.2B to $21.8B in fiscal year 2025.
Is Becton Dickinson & Co profitable?
Yes, Becton Dickinson & Co (BDX) reported a net income of $1.7B in fiscal year 2025, with a net profit margin of 7.7%.
What is Becton Dickinson & Co's earnings per share (EPS)?
Becton Dickinson & Co (BDX) reported diluted earnings per share of $5.82 for fiscal year 2025. This represents a -0.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Becton Dickinson & Co's EBITDA?
Becton Dickinson & Co (BDX) had EBITDA of $5.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Becton Dickinson & Co have?
As of fiscal year 2025, Becton Dickinson & Co (BDX) had $641.0M in cash and equivalents against $17.6B in long-term debt.
What is Becton Dickinson & Co's gross margin?
Becton Dickinson & Co (BDX) had a gross margin of 45.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Becton Dickinson & Co's operating margin?
Becton Dickinson & Co (BDX) had an operating margin of 11.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Becton Dickinson & Co's net profit margin?
Becton Dickinson & Co (BDX) had a net profit margin of 7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Becton Dickinson & Co pay dividends?
Yes, Becton Dickinson & Co (BDX) paid $4.16 per share in dividends during fiscal year 2025.
What is Becton Dickinson & Co's return on equity (ROE)?
Becton Dickinson & Co (BDX) has a return on equity of 6.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Becton Dickinson & Co's free cash flow?
Becton Dickinson & Co (BDX) generated $2.7B in free cash flow during fiscal year 2025. This represents a -14.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Becton Dickinson & Co's operating cash flow?
Becton Dickinson & Co (BDX) generated $3.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Becton Dickinson & Co's total assets?
Becton Dickinson & Co (BDX) had $55.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Becton Dickinson & Co's capital expenditures?
Becton Dickinson & Co (BDX) invested $760.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Becton Dickinson & Co spend on research and development?
Becton Dickinson & Co (BDX) invested $1.3B in research and development during fiscal year 2025.
Does Becton Dickinson & Co buy back shares?
Yes, Becton Dickinson & Co (BDX) spent $1.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Becton Dickinson & Co have outstanding?
Becton Dickinson & Co (BDX) had 285M shares outstanding as of fiscal year 2025.
What is Becton Dickinson & Co's current ratio?
Becton Dickinson & Co (BDX) had a current ratio of 1.11 as of fiscal year 2025, which is considered adequate.
What is Becton Dickinson & Co's debt-to-equity ratio?
Becton Dickinson & Co (BDX) had a debt-to-equity ratio of 0.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Becton Dickinson & Co's return on assets (ROA)?
Becton Dickinson & Co (BDX) had a return on assets of 3.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Becton Dickinson & Co's Altman Z-Score?
Becton Dickinson & Co (BDX) has an Altman Z-Score of 1.99, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Becton Dickinson & Co's Piotroski F-Score?
Becton Dickinson & Co (BDX) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Becton Dickinson & Co's earnings high quality?
Becton Dickinson & Co (BDX) has an earnings quality ratio of 2.04x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Becton Dickinson & Co cover its interest payments?
Becton Dickinson & Co (BDX) has an interest coverage ratio of 4.2x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Becton Dickinson & Co?
Becton Dickinson & Co (BDX) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.