Overview
BECTON DICKINSON & CO
Latest 10-K: FY2025, filed Nov 25, 2025 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $21.84B
- 8.2%YoYup from FY2024
- TotalRevenue
- Gross profit
- $9.93B
- 8.8%YoYup from FY2024
- GrossProfit
- Operating income
- $2.58B
- 7.6%YoYup from FY2024
- OperatingIncome
- Net income
- $1.68B
- 1.6%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $5.82
- 0.7%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 288.5M
- 0.9%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- BECTON DICKINSON & CO reported revenue of $21.84B for fiscal 2025, up 8.2% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.
Profitability
- Operating margin was 11.8% and net margin was 7.7%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $5.82, down 0.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 24, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $21.84B8.2%up S&P 500 6.4% | $20.18B4.2%up S&P 500 4.5% | $19.37B2.7%up S&P 500 4.8% | $18.87B1.4%down S&P 500 10.3% | $19.13B19.0%up S&P 500 13.8% | 3.4% S&P 500 6.6% |
| Gross Profit Median of 315 / 498 | $9.93B8.8%up S&P 500 6.8% | $9.13B11.7%up S&P 500 5.5% | $8.17B3.6%down S&P 500 5.2% | $8.48B1.8%down S&P 500 8.3% | $8.63B13.9%up S&P 500 15.7% | 3.6% S&P 500 6.2% |
| Operating Income Median of 373 / 498 | $2.58B7.6%up S&P 500 7.3% | $2.40B13.5%up S&P 500 7.4% | $2.11B7.5%down S&P 500 4.9% | $2.28B1.4%up S&P 500 7.5% | $2.25B146.7%up S&P 500 23.5% | 3.5% S&P 500 7.2% |
| Net Income | $1.68B1.6%down S&P 500 4.8% | $1.71B14.9%up S&P 500 5.7% | $1.48B16.6%down S&P 500 1.9% | $1.78B15.0%down S&P 500 1.3% | $2.09B139.4%up S&P 500 33.9% | -5.4% S&P 500 4.1% |
| EPS (Diluted) | $5.820.7%down S&P 500 6.2% | $5.8618.6%up S&P 500 7.9% | $4.9416.0%down S&P 500 1.9% | $5.8814.2%down S&P 500 1.5% | $6.85152.8%up S&P 500 34.8% | -4.0% S&P 500 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $55.33B3.4%down S&P 500 5.6% | $57.29B8.5%up S&P 500 3.4% | $52.78B0.3%down S&P 500 4.1% | $52.93B1.7%down S&P 500 2.2% | $53.87B0.3%down S&P 500 6.7% | 0.7% S&P 500 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — S&P 500 4.4% |
| Stockholders' Equity | $25.39B1.9%down S&P 500 6.8% | $25.89B0.4%up S&P 500 5.4% | $25.80B2.0%up S&P 500 7.3% | $25.28B6.8%up S&P 500 2.5% | $23.68B0.4%down S&P 500 9.0% | 1.8% S&P 500 6.1% |
| Cash & Equivalents | $0.64B62.7%down S&P 500 5.2% | $1.72B21.3%up S&P 500 1.9% | $1.42B40.8%up S&P 500 6.7% | $1.01B55.9%down S&P 500 -8.6% | $2.28B19.2%down S&P 500 -2.9% | -27.2% S&P 500 2.0% |
| Total Debt Median of 393 / 498 | $19.18B†4.6%down S&P 500 2.3% | $20.11B†26.6%up S&P 500 0.1% | $15.88B†1.2%down S&P 500 0.1% | $16.07B†8.8%down S&P 500 0.1% | $17.61B†1.8%down S&P 500 0.0% | 2.2% S&P 500 3.7% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.43B10.8%down S&P 500 6.3% | $3.84B28.6%up S&P 500 4.8% | $2.99B21.0%up S&P 500 9.9% | $2.47B46.8%down S&P 500 -0.7% | $4.65B31.3%up S&P 500 10.7% | -7.3% S&P 500 7.0% |
| Capital Expenditures | $0.76B4.8%up S&P 500 5.4% | $0.72B17.0%down S&P 500 2.8% | $0.87B10.2%down S&P 500 11.3% | $0.97B18.5%down S&P 500 14.0% | $1.19B55.3%up S&P 500 8.1% | -10.7% S&P 500 9.0% |
| Free Cash Flow Median of 378 / 498 | $2.67B14.4%down S&P 500 7.3% | $3.12B47.4%up S&P 500 6.1% | $2.12B41.3%up S&P 500 8.8% | $1.50B56.6%down S&P 500 -11.3% | $3.45B24.7%up S&P 500 10.2% | -6.2% S&P 500 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.1%
Wall Street
on net earnings
FY2024 2.4%
4.9%
Value investor
on free cash flow
FY2024 4.4%
Gap +1.8 pts: Value-investor figure 1.8 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 32.2×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
7.0%
Wall Street
on EBITDA
FY2024 5.3%
3.6%
Value investor
on EBIT
FY2024 2.7%
Gap −3.4 pts: Value-investor figure 3.4 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 14.4×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
47.0%
Wall Street
on book equity
FY2024 36.9%
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
6.5%
Wall Street
ROE: net income ÷ equity
FY2024 6.6%
5.0%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 4.4%
Gap −1.5 pts: Value-investor figure 1.5 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
23.1%
Wall Street
EBITDA margin
FY2024 23.2%
12.2%
Value investor
Free-cash-flow margin
FY2024 15.5%
Gap −10.9 pts: Value-investor figure 10.9 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.11×
Wall Street
Current ratio
FY2024 1.17×
0.64×
Value investor
Quick ratio, inventory excluded
FY2024 0.74×
Gap −0.47×: Value-investor figure 0.47 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.26×
Wall Street
EBITDA ÷ total debt
FY2024 0.23×
0.14×
Value investor
FCF ÷ total debt
FY2024 0.16×
Gap −0.12×: Value-investor figure 0.12 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 3.68×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
8.2×
Wall Street
EBITDA ÷ interest
FY2024 8.9×
4.2×
Value investor
EBIT ÷ interest
FY2024 4.5×
Gap −4.0×: Value-investor figure 4.0 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on BDX yet.
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Cite this page
Data as of Oct 24, 2026. Canonical address: https://valuein.biz/data/BDX
Valuein. (2026, October 24). BECTON DICKINSON & CO (BDX) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/BDX
@misc{valuein_bdx_2026,
author = {{Valuein}},
title = {BECTON DICKINSON \& CO (BDX) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/BDX}},
note = {Data as of 2026-10-24; source: SEC EDGAR filings}
}10-K filed Nov 25, 2025 · accession 0000010795-25-000099
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing