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BDX

Becton, Dickinson and Company

BDX

Becton, Dickinson and Company • NYSE
$194.02 ▲ 0.06% (+0.12)
Market Cap $55.61 B
52w High $251.99
52w Low $162.29
Dividend Yield 4.16%
P/E 33.34
Volume 592.84K
Outstanding Shares 286.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $5.89B ▲ $2.102B ▲ $493M ▼ 8.37% ▼ $1.72 ▼ $1.294B ▼
Q3-2025 $5.509B ▲ $1.752B ▲ $574M ▲ 10.419% ▲ $2 ▲ $1.473B ▲
Q2-2025 $5.272B ▲ $1.711B ▼ $308M ▲ 5.842% ▼ $1.07 ▲ $1.122B ▲
Q1-2025 $5.168B ▼ $1.782B ▲ $303M ▼ 5.863% ▼ $1.05 ▼ $1.068B ▼
Q4-2024 $5.437B $1.695B $421M 7.743% $1.45 $1.141B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $859M ▲ $55.325B ▲ $29.936B ▲ $25.39B ▼
Q3-2025 $757M ▲ $54.902B ▲ $29.429B ▲ $25.473B ▲
Q2-2025 $683M ▼ $54.467B ▼ $29.226B ▼ $25.241B ▲
Q1-2025 $728M ▼ $54.665B ▼ $29.461B ▼ $25.204B ▼
Q4-2024 $2.162B $57.286B $31.397B $25.889B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $493M ▼ $1.354B ▲ $-494M ▼ $-809M ▲ $53M ▲ $1.002B ▼
Q3-2025 $552M ▲ $1.219B ▲ $-336M ▼ $-841M ▼ $50M ▲ $1.045B ▲
Q2-2025 $330M ▲ $164M ▼ $-192M ▼ $-39M ▲ $-66M ▲ $35M ▼
Q1-2025 $303M ▼ $693M ▼ $204M ▲ $-1.928B ▼ $-1.043B ▲ $588M ▼
Q4-2024 $421M $1.178B $-3.937B $124M $-2.631B $882M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Interventional
Interventional
 $1.26Bn ▲$1.26Bn ▲$1.26Bn ▲$1.33Bn ▲
Life Sciences
Life Sciences
 $1.34Bn ▲$1.30Bn ▼$1.25Bn ▼$1.25Bn ▲
Medical
Medical
 $2.84Bn ▲$2.62Bn ▼$2.76Bn ▲$2.93Bn ▲

Five-Year Company Overview

Income Statement

Income Statement BDX shows a pattern of steady, moderate revenue growth after the pandemic bump and subsequent normalization. Profitability is reasonably healthy, with operating and EBITDA profits holding up well over time, suggesting disciplined cost control in a complex business. Net income and earnings per share have been more up‑and‑down, reflecting one‑off items, mix shifts away from pandemic testing, and ongoing investment in new platforms. Overall, the income statement points to a mature, diversified medtech company that is still growing, but not at a rapid pace, and is managing the transition from COVID-driven sales back to its core franchises.

Balance Sheet

Balance Sheet The balance sheet is large and sturdy, with a sizable asset base and a solid layer of shareholder equity built up over many years. Debt has climbed meaningfully in the most recent period, which increases financial leverage and makes capital allocation choices more important to watch. Cash on hand is modest relative to total assets, which is typical for a company leaning on recurring cash flows rather than large cash reserves. The structure suggests a financially durable business, but with a clear need to keep earnings and cash generation on track to comfortably support the higher debt load.

Cash Flow

Cash Flow Cash flow is a relative bright spot: the business consistently produces healthy cash from operations, even as working capital and restructuring needs move around year to year. After funding capital spending, free cash flow has stayed solidly positive, and has generally improved more recently, indicating better conversion of profits into cash. Capital expenditures remain meaningful but manageable, reflecting ongoing investment in plants, equipment, and technology rather than aggressive expansion. Altogether, BDX appears to generate enough cash to fund investment, service debt, and support shareholder returns, as long as operating performance remains stable.

Competitive Edge

Competitive Edge BDX holds a strong competitive position built on decades of presence in everyday medical devices and hospital systems. Its products are deeply embedded in clinical workflows—syringes, blood collection, infusion systems, and medication dispensing—creating high switching costs and sticky customer relationships. Scale, a broad global footprint, and an extensive patent and product portfolio provide meaningful barriers to entry versus smaller rivals. Competition from other large medtech and diagnostics players is intense, but BD’s brand reputation, installed base, and ability to offer integrated solutions across the care continuum give it a durable, if not unassailable, moat.

Innovation and R&D

Innovation and R&D Innovation is a core part of BDX’s strategy, shifting the company from simple devices toward smarter, connected, and more automated solutions. The firm is investing in AI-enabled platforms, connected infusion and medication management systems, robotics, and predictive analytics to make hospitals more efficient and care safer. It is also targeting structural growth areas such as drug delivery for new weight‑loss and diabetes medicines, vascular and oncology interventions, and more advanced diagnostic ecosystems. A planned separation of certain biosciences and diagnostic activities is designed to sharpen focus and capital deployment, but it also introduces execution risk as the portfolio is reshaped.

Summary

Overall, BDX looks like a mature global medtech leader with stable growth, resilient margins, and strong cash generation, supported by a wide and sticky installed base in hospitals around the world. The company’s shift toward smart connected care, data, and chronic disease solutions aims to keep it relevant as healthcare digitalizes and moves outside the hospital. Key strengths include its entrenched customer relationships, diversified product set, brand trust, and consistent free cash flow. Key watchpoints include the higher debt load, the complexity and risk of portfolio restructuring, regulatory and product safety scrutiny, and the need to successfully commercialize its newer AI, automation, and drug‑delivery platforms to sustain growth over the long term.

NEWS

November 24, 2025 · 6:50 AM UTC

BD Surgiphor™ Surgical Wound Irrigation System Expands to Europe to Help Hospitals Improve Patient Safety

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November 17, 2025 · 4:30 PM UTC

BD Appoints Robert Huffines and Jacqueline Wright to Board of Directors

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November 17, 2025 · 6:50 AM UTC

BD Onclarity™ HPV Assay for BD COR™ and BD Viper™ LT Systems Receive WHO Prequalification

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November 13, 2025 · 6:50 AM UTC

Duncan Regional Hospital Becomes First in U.S. to Implement BD Alaris™ EMR Infusion Interoperability with MEDITECH

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November 12, 2025 · 6:50 AM UTC

BD Expands PureWick™ Portfolio with First-of-its-Kind Portable Solution to Confidently Manage Urinary Incontinence On the Go

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