Becton Dickinson operates in four business units. Medical essentials (35% of total sales) includes the legacy medical surgical unit, which sells catheters, syringes, and infection prevention products.
It is a $50.0B healthcare company. Revenue shrank 6.1% over the last year, it keeps 5¢ of every dollar of sales as profit, and its net debt equals ~6.8 years of free cash flow. It trades at 53.1× earnings — in the most expensive third of its own history.
- Website
- bd.com
- Location
- Franklin Lakes, NJ
- Employees
- 72 000
- Sector
- Healthcare
- Founded
- 1897
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality; Profitability and Health lag behind.
Valuation57
- P/E vs own history70th pct · 5/25
- FCF yield5.5% · 20/25
- P/S2.4x · 20/25
- EV/EBITDA15.3x · 12/25
Growth51
- Revenue CAGR1.9% · 6/25
- Net income CAGR-5.4% · 0/25
- EPS CAGR ~5Y13.0% · 20/25
- Fwd implied growth284.5% · 25/25
Profitability28
- ROIC4.9% · 5/25
- ROE3.8% · 5/25
- Net margin4.7% · 6/25
- Operating margin9.6% · 12/25
Health31
- Altman Z1.95 · 10/25
- Current ratio0.87 · 6/25
- Interest coverage4.0x · 10/25
- Net cash / debtD/A 33% · 5/25
Quality100
- Piotroski F8/9 · 25/25
- Beneish M-2.72 · 25/25
- FCF conversion290% · 25/25
- Margin stabilityσ 4.2% · 25/25
Moat57
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin45.4% · 20/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 1.9% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionBD Life Sciences was spun out and combined with the businesses of Waters Corporation
- 2024AcquisitionBD announced it would acquire Edwards Lifesciences' critical care unit for $4.2 billion
- Apr 1, 2022MilestoneThe spinoff was completed on April 1, 2022, to form Embecta Corporation
- FY2021FinancialBest year on record$2.09B net income
- 2017AcquisitionBecton, Dickinson and Company announced it would acquire C
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$12.5B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2014AcquisitionThe company agreed to acquire CareFusion for a price of US$12.2 billion in cash and stock
- 1897FoundedThe company was founded in 1897 in New York City by Maxwell Becton and Fairleigh S
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (46.7%)
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
- Revenue shrinking 6.1% year over year
- Net debt would take ~5.9 years of free cash flow to repay
- Net debt equals ~6.8 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-6.1% YoY
- Profitable — makes more than it spends$942M TTM
- Profit growing — earnings are higher than last year-2.1% YoY
- Generates cash — cash left after running and investing$2.73B TTM
- Debt under control — could handle its obligations~6.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$50.0B market cap
- Not printing shares — share count not ballooning — you keep your slice+4.1% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.0 — grey
- Pays a dividend — returns cash to shareholdersyield 2.34%
- Valuation not extreme — price not wildly above earningsP/E 53.1
Peer comparisonBecton, Dickinson and Co. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| BDX this company | $50.0B | 53.1 | -6.1% | 4.7% | Strained |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: BDX vs LLY · BDX vs JNJ · BDX vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/BDX
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Deeper analysis of BDX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $183.75 · market cap $50.0B.