Becton, Dickinson and CompanyBDX
NYSE•Healthcare•Medical Instruments & Supplies
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. It operates through Medical Essentials, Connected Care, BioPharma Systems, Interventional and Life Sciences segments. It provides peripheral intravenous (IV) and advanced peripheral catheters, central lines, acute dialysis catheters, vascular access technology, vascular care and preparation products, needle-free IV connectors and extensions sets, closed-system drug transfer devices, hazardous drug detections, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, and sharps disposal systems; IV medication safety and infusion therapy delivery systems, medication compounding workflow system, automated medication dispensing and supply management systems, informatics and analytics and pharmacy automation system, and medication inventory optimization and tracking system; hemodynamic monitoring system; and prefillable drug delivery systems. It also offers specimen and blood collection products; automated blood and tuberculosis culturing, molecular testing, and microorganism identification and drug susceptibility, as well as rapid diagnostic assays, microbiology laboratory automation products, and plated media products; and fluorescence-activated cell sorters and analyzers, antibodies and kits, reagent system, and solution for single-cell gene expression analysis, as well as clinical oncology, immunological, and transplantation diagnostic/monitoring reagents and analyzers. It provides hernia and soft tissue repair, biological and bioresorbable graft, biosurgery, and other surgical products; surgical infection prevention, peripheral intervention, and urology and critical care products. The company has a strategic collaboration with ChemoGLO for the advancement of hazardous drug contamination testing in health care settings to improve the safety of health care workers. The company was founded in 1897 and is headquartered in Franklin Lakes, New Jersey.
Becton, Dickinson and Company (BDX) reported trailing twelve months revenue of $21.36B as of March 2026, a 2.4% increase year-over-year. Quarterly revenue reached $4.71B, reflecting continued top-line momentum.
Becton, Dickinson and Company generated $1.14B in TTM net income, with quarterly EBITDA of $189.00M. The operating margin contracted from 10.4% to 2.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (2.0%) and net margin (-6.6%) indicates moderate non-operating costs. Net margin has narrowed from 5.8% a year ago, reflecting increased costs or interest expense.
BDX trades at a P/E of 38.1x (a premium multiple) and a P/S of 2.0x. The price-to-book ratio of 1.8x reflects a moderate premium to book value.
The company generated $546.00M in free cash flow over the trailing twelve months, a 1460.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $50.83B in total assets with no in long-term debt against $24.13B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~10.5% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~6.2% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~7.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~10.3% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation