Becton Dickinson

Health Care Health Care Equipment Franklin Lakes, New Jersey Last filing Nov 25, 2025 · FY2025

                    Revenue
                    FY2025
                
$21.8B
                    3y CAGR +5.0%
                    
                    P49
                    
                    +8.2%
                    
                    Net income
                    FY2025
                
$1.7B
                    Net margin +7.7%
                    
                    P27
                    
                    -1.6%
                    
                    Total assets
                    FY2025
                
$55.3B
                    ROA +3.0%
                    
                    P21
                    
                    -3.4%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    FCF margin +12.2%
                    
                    P33
                    
                    -10.8%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $55.3B

Total liabilities ~$29.9B

Shareholders equity $25.4B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$641.0M -62.7%	$1.7B 21.3%	$1.4B 40.8%	$1.0B -55.9%	$2.3B
Short Term Investments	$8.0M -98.2%	$445.0M 5462.5%	$8.0M 0.0%	$8.0M -33.3%	$12.0M
Accounts Receivable	$3.0B -1.3%	$3.0B 19.7%	$2.5B 15.7%	$2.2B -6.8%	$2.4B
Inventory	$3.9B 1.3%	$3.8B 17.4%	$3.3B 1.5%	$3.2B 17.5%	$2.7B
Prepaid Expenses	$1.5B 16.7%	$1.3B -6.4%	$1.4B -11.5%	$1.6B 48.8%	$1.0B
Other Current Assets	$210.0M 51.1%	$139.0M 113.8%	$65.0M -57.5%	$153.0M -61.9%	$402.0M
Total Current Assets	$9.3B -11.6%	$10.5B 20.7%	$8.7B 6.6%	$8.1B -7.9%	$8.8B
Property,Plant and Equipment	$7.0B 2.6%	$6.8B 4.0%	$6.6B 9.1%	$6.0B 0.1%	$6.0B
Goodwill	$26.6B 0.6%	$26.5B 7.9%	$24.5B -0.4%	$24.6B 3.1%	$23.9B
Intangible Assets	$9.4B -13.8%	$10.9B -0.3%	$10.9B -11.1%	$12.3B -3.6%	$12.8B
Other Noncurrent Assets	$3.1B 16.9%	$2.6B 25.8%	$2.1B 12.4%	$1.8B -22.0%	$2.4B
Total Assets	$55.3B -3.4%	$57.3B 8.5%	$52.8B -0.3%	$52.9B -1.7%	$53.9B
Liabilities
Accounts Payable	$2.0B 4.1%	$1.9B 15.5%	$1.6B -3.4%	$1.7B -2.3%	$1.7B
Accrued Liabilities	$4.8B -2.3%	$4.9B 26.7%	$3.9B -1.9%	$3.9B -7.0%	$4.2B
Current Portion of Long Term Debt	$1.6B -28.1%	$2.2B 90.2%	$1.1B -47.6%	$2.2B 335.8%	$500.0M
Total Current Liabilities	$8.3B -7.2%	$9.0B 34.9%	$6.6B -15.0%	$7.8B 17.9%	$6.6B
Long Term Debt	$17.6B -1.8%	$17.9B 21.7%	$14.7B 6.1%	$13.9B -18.8%	$17.1B
Other Noncurrent Liabilities	$4.0B -11.1%	$4.5B -19.7%	$5.6B -5.9%	$6.0B -7.7%	$6.5B
Equity
Common Stock	$371.0M 0.0%	$371.0M 0.0%	$371.0M 1.6%	$365.0M 0.0%	$365.0M
Additional Paid In Capital	$20.1B 0.9%	$19.9B 0.9%	$19.7B 0.9%	$19.6B 1.5%	$19.3B
Retained Earnings	$16.6B 3.0%	$16.1B 3.9%	$15.5B 2.5%	$15.2B 9.6%	$13.8B
Treasury Stock	$9.8B 11.4%	$8.8B 6.0%	$8.3B -0.3%	$8.3B 7.9%	$7.7B
Accumulated Other Comprehensive Income	$-1.9B -9.4%	$-1.7B -11.9%	$-1.5B -4.0%	$-1.5B 28.7%	$-2.1B
Other Equity	$25.0M 0.0%	$25.0M 4.2%	$24.0M 4.3%	$23.0M 0.0%	$23.0M
Total Stockholders Equity	$25.4B -1.9%	$25.9B 0.4%	$25.8B 2.0%	$25.3B 6.8%	$23.7B
Total Liabilitiesand Equity	$55.3B -3.4%	$57.3B 8.5%	$52.8B -0.3%	$52.9B -1.7%	$53.9B

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $21.8B

Operating income $2.6B

Net income $1.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$21.8B 8.2%	$20.2B 4.2%	$19.4B 2.7%	$18.9B -1.4%	$19.1B
Expenses Cost of Revenue	$11.9B 7.8%	$11.1B -1.3%	$11.2B 7.8%	$10.4B -1.0%	$10.5B
Expenses Research and Development	$1.3B 6.3%	$1.2B -3.8%	$1.2B -1.5%	$1.3B -1.8%	$1.3B
Expenses Selling,General and Administrative	$5.3B 8.7%	$4.9B 2.9%	$4.7B 0.2%	$4.7B -0.2%	$4.7B
Expenses Other Operating Expenses	$396.0M 78.4%	$222.0M 205.7%	$-210.0M -191.7%	$229.0M 12.8%	$203.0M
Other Income Expense Operating Income	$2.6B 7.6%	$2.4B 13.5%	$2.1B -7.5%	$2.3B 1.4%	$2.2B
Other Income Expense Interest Income	$38.0M -76.7%	$163.0M 232.7%	$49.0M 206.3%	$16.0M 77.8%	$9.0M
Other Income Expense Interest Expense	$613.0M 16.1%	$528.0M 16.8%	$452.0M 13.6%	$398.0M -15.1%	$469.0M
Other Income Expense Other Income/expense	$-531.0M -9.3%	$-486.0M -35.4%	$-359.0M -206.8%	$-117.0M -18.2%	$-99.0M
Other Income Expense Income Before Tax	$1.9B -6.2%	$2.0B 20.6%	$1.7B -6.8%	$1.8B 5.4%	$1.7B
Income Tax Income Tax Expense	$203.0M -32.3%	$300.0M 127.3%	$132.0M -10.8%	$148.0M 68.2%	$88.0M
net Income Other Items Below Tax	$0	$0 100.0%	$-106.0M -296.3%	$54.0M -86.4%	$398.0M
net Income net Income	$1.7B -1.6%	$1.7B 14.9%	$1.5B -16.6%	$1.8B -15.0%	$2.1B
net Income Comprehensive Income	$1.5B -0.4%	$1.5B 6.8%	$1.4B -40.1%	$2.4B -6.8%	$2.6B
Earnings Per Share Basic Eps	$6 -0.9%	$6 18.3%	$5 -16.2%	$6 -14.3%	$7
Earnings Per Share Diluted Eps	$6 -0.7%	$6 18.6%	$5 -16.0%	$6 -14.2%	$7

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $3.4B

Investing cash flow $-818.0M

Financing cash flow $-3.6B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$1.7B -1.6%	$1.7B 14.9%	$1.5B -16.6%	$1.8B -15.0%	$2.1B
Operating Activities Depreciation and Amortization	$2.5B 7.7%	$2.3B -0.1%	$2.3B 2.6%	$2.2B 0.0%	$2.2B
Operating Activities Stock Based Compensation	$258.0M 4.5%	$247.0M -4.6%	$259.0M 11.2%	$233.0M 1.7%	$229.0M
Operating Activities Deferred Income Taxes	$-474.0M -124.6%	$-211.0M 66.1%	$-622.0M -418.3%	$-120.0M 60.1%	$-301.0M
Operating Activities Changes In Operating Assets and Liabilities	$-614.0M -303.9%	$-152.0M 84.2%	$-962.0M 36.9%	$-1.5B -1004.3%	$-138.0M
Operating Activities Other Non Cash Items	$121.0M 478.1%	$-32.0M -106.4%	$497.0M 2823.5%	$17.0M -96.6%	$503.0M
Operating Activities net Cash From Operating Activities	$3.4B -10.8%	$3.8B 28.6%	$3.0B 21.0%	$2.5B -40.1%	$4.1B
Investing Activities Capital Expenditures	$-760.0M -4.8%	$-725.0M 17.0%	$-874.0M 10.2%	$-973.0M 18.5%	$-1.2B
Investing Activities Business Acquisitions	$0 100.0%	$-3.9B	$0 100.0%	$-2.1B -307.5%	$-508.0M
Investing Activities Other Investing Activities	$-58.0M 93.3%	$-865.0M -647.5%	$158.0M 188.8%	$-178.0M -25.4%	$-142.0M
Investing Activities net Cash From Investing Activities	$-818.0M 85.2%	$-5.5B -670.1%	$-716.0M 77.8%	$-3.2B -74.7%	$-1.8B
Financing Activities Proceeds From Debt	$0 -100.0%	$4.5B 171.8%	$1.7B 234.4%	$497.0M -89.8%	$4.9B
Financing Activities Repayment of Debt	$-1.8B -56.7%	$-1.1B 47.0%	$-2.2B -167.7%	$-805.0M 84.3%	$-5.1B
Financing Activities Repurchase of Common Stock	$-1.0B -100.0%	$-500.0M	$0 100.0%	$-500.0M 71.4%	$-1.8B
Financing Activities Dividends Paid	$-1.2B -8.7%	$-1.1B 1.3%	$-1.1B -3.0%	$-1.1B -3.2%	$-1.0B
Financing Activities Other Financing Activities	$368.0M 18.3%	$311.0M 188.9%	$-350.0M -130.3%	$1.2B 535.5%	$-265.0M
Financing Activities net Cash From Financing Activities	$-3.6B -273.3%	$2.1B 206.7%	$-2.0B -165.8%	$-736.0M 77.7%	$-3.3B
Cash Reconciliation Effect of Exchange Rate On Cash	$0 -100.0%	$4.0M -20.0%	$5.0M 111.1%	$-45.0M -400.0%	$15.0M
Cash Reconciliation Other Changes In Cash	$0 100.0%	$-46.0M -4500.0%	$-1.0M -100.3%	$297.0M -38.6%	$484.0M
Cash Reconciliation net Change In Cash	$-1.0B -368.0%	$375.0M 16.5%	$322.0M 126.1%	$-1.2B -134.9%	$-525.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+45.4%	+45.2%	+42.2%	+44.9%	+45.1%
Operating margin	+11.8%	+11.9%	+10.9%	+12.1%	+11.8%
Net margin	+7.7%	+8.4%	+7.7%	+9.4%	+10.9%
FCF margin	+12.2%	+15.5%	+10.9%	+7.9%	+15.3%
Growth
Revenue CAGR (3y)	+5.0%	+1.8%	+6.4%	+3.0%	+6.2%
Returns
ROE	+6.6%	+6.6%	+5.8%	+7.0%	+8.8%
ROA	+3.0%	+3.0%	+2.8%	+3.4%	+3.9%
ROIC	+5.2%	+4.6%	+4.8%	+5.2%	+5.5%
Liquidity
Current ratio	1.11x	1.17x	1.31x	1.04x	1.33x
Quick ratio	0.44x	0.53x	0.59x	0.41x	0.70x
Leverage
D/E	1.18x	1.21x	1.05x	1.09x	1.28x
Interest coverage	4.21x	4.54x	4.67x	5.73x	4.80x
Efficiency
Asset turnover	0.39x	0.35x	0.37x	0.36x	0.36x
Cash conversion cycle	+109d	+119d	+101d	+96d	+80d

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