BDXNYSESurgical & Medical Instruments & ApparatusFiscal year ends September 30
BECTON DICKINSON & CO
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$190.74−1.01 (-0.53%)
Close on Oct 19, 2026
- Market cap
- $52.48B
- P/E (TTM)
- 57.6
- Dividend yield
- 2.18%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
45.4%−1.7 pts over 5 years
Operating margin
11.8%+6.1 pts over 5 years
Net margin
7.7%+2.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.2% | +5.0% | +6.3% | +7.8% | |
| Gross profit | +8.8% | +5.4% | +5.5% | +7.8% | |
| Operating income | +7.6% | +4.2% | +23.1% | +9.2% | |
| Net income | -1.6% | -1.9% | +13.9% | +9.2% | |
| EPS, diluted | -0.7% | -0.3% | +16.5% | +5.7% | |
| Free cash flow | -14.4% | +21.2% | +4.3% | +8.9% | |
| Dividend per share | +9.5% | +6.1% | +5.7% | +5.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.2% | 3.9% | 6.5% | |
| Return on assets | 3.7% | 1.7% | 3.0% | |
| Current ratio | 1.45 | 1.54 | 1.11 | |
| Debt to equity | 1.51 | 0.75 | 0.76 | |
| Net debt to EBITDA | 3.93× | 4.96× | 3.69× | |
| Interest coverage | 3.7× | 1.7× | 4.2× | |
| Inventory turnover | 3.5× | 3.2× | 3.4× | |
| Capex to revenue | 5.6% | 4.8% | 3.5% | |
| Diluted shares | 218M | 282M | 289M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Becton Dickinson generated $16.86B from operations and spent $13.82B on capital expenditure, dividends and share buybacks. 33% of that went back into the business.
Generated
$16.86B
Used
$13.82B
Capital expenditure$4.53B33%Dividends$5.54B40%Share buybacks$3.75B27%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.7%
×Asset turnover0.39×
×Equity multiplier2.20×
=Return on equity, FY20256.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.7% | 0.39× | 2.20× | 6.5% |
| FY2024 | 8.4% | 0.37× | 2.13× | 6.6% |
| FY2023 | 7.7% | 0.37× | 2.07× | 5.8% |
| FY2022 | 9.4% | 0.35× | 2.18× | 7.3% |
| FY2021 | 10.9% | 0.35× | 2.27× | 8.8% |
| FY2020 | 5.4% | 0.30× | 2.36× | 3.9% |
| FY2019 | 7.1% | 0.33× | 2.51× | 5.9% |
| FY2018 | 1.9% | 0.35× | 2.70× | 1.8% |
| FY2017 | 9.1% | 0.38× | 3.08× | 10.7% |
| FY2016 | 7.8% | 0.48× | 3.52× | 13.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.68B
- Cash generatingOperating cash flow above zero$3.43B
- Return on assets improvedROA up on the prior year3.2% → 2.9%
- Earnings backed by cashOperating cash flow above net income$3.43B vs $1.68B
- Less leverageLong-term debt to assets fell31.3% → 31.8%
- Better liquidityCurrent ratio rose1.17 → 1.11
- No dilutionShare count did not rise291M → 289M
- Gross margin improvedGross margin up on the prior year45.22% → 45.44%
- More efficientAsset turnover rose0.38 → 0.38