Becton, Dickinson and Company

Becton, Dickinson and Company

BDXยทNYSE

$145.61

+0.19%
HealthcareMedical - 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. The company's BD Medical segment offers peripheral intravenous (IV) and advanced peripheral catheters, central lines, acute dialysis catheters, 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 and infusion therapy delivery systems, medication compounding workflow systems, automated medication dispensing and supply management systems, and medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes; and prefillable drug delivery systems. Its BD Life Sciences segment provides specimen and blood collection products; automated blood and tuberculosis culturing, molecular testing, microorganism identification and drug susceptibility, and liquid-based cytology systems, 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 systems, and solutions for single-cell gene expression analysis, as well as clinical oncology, immunological, and transplantation diagnostic/monitoring reagents and analyzers. The company's BD Interventional segment offers hernia and soft tissue repair, biological and bioresorbable grafts, biosurgery, and other surgical products; surgical infection prevention, surgical and laparoscopic instrumentation products; peripheral intervention products; and urology and critical care products. The company was founded in 1897 and is based in Franklin Lakes, New Jersey.

At a Glance

Live Snapshot
Market Cap$52.75B
EPS5.8400
P/E Ratio24.93
Earnings Date08/06/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 24.9).

Valuation inputs: P/E 24.9, earnings yield +4.0%, momentum +0.2%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +6.6%, ROIC +4.7%).

Profitability stack: net margin +7.7%, ROE +6.6%, ROIC +4.7%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +54.1%, momentum +0.2%, net margin +7.7%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

bdx

Becton, Dickinson and Company Market vs Earnings Trajectory

BDX ยท NYSE

Loading price and EPS data...

Becton, Dickinson and Company

Becton, Dickinson and Company Fair Value Envelope

BDX ยท NYSE

Our analysis suggests that BDX has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $145.61, this represents a potential HIDDEN relative to our calculated worth for Becton, Dickinson and Company.

Intrinsic Value
Current Price: $145.61
3Y-2.0%
5Y+112.0%
10Y+27.0%
3Y+16.0%
5Y+36.0%
10Y+75.0%
3Y-6.0%
5Y+92.0%
10Y+72.0%
3Y+30.0%
5Y-3.0%
10Y+34.0%
3Y+61.0%
5Y-2.0%
10Y+45.0%
3Y+5.0%
5Y+2.0%
10Y+116.0%
Becton, Dickinson and Company

Becton, Dickinson and Company Profit Bridge

BDX ยท NYSE
Revenue21.84B
Cost of Goods Sold (11.91B)
Gross Profit9.92B
Operating Expenses (7.35B)
Operating Income2.58B
Interest Expense (613.00M)
Other Income/Expense-696.00M
Pretax Income1.88B
Income Tax (204.00M)
Net Income1.68B
Net Income
1.68B

Profitability Analysis

Gross Margin

45.4%

Strong gross margins indicate healthy pricing and efficient production or service delivery.

Operating Margin

11.8%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

7.7%

Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.

Effective Tax Rate

10.8%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Room for improvement: Moderate profitability with opportunities to enhance margins through better cost management or pricing strategy.

45.44%
Gross Profit Margin
3Y+1.0%
5Y+7.0%
10Y-5.0%
11.80%
Operating Profit Margin
-1%
3Y-2.0%
5Y+108.0%
10Y+3.0%
7.68%
Net Profit Margin
-9%
3Y-19.0%
5Y+41.0%
10Y-2.0%
6.61%
Return on Equity
3Y-6.0%
5Y+80.0%
10Y-48.0%
3.03%
Return on Assets
2%
3Y-10.0%
5Y+87.0%
10Y-20.0%
4.73%
Return on Invested Capital
18%
3Y+7.0%
5Y+198.0%
10Y-19.0%
BDX

Becton, Dickinson and Company Cash Conversion Engine

BDX ยท NYSE
Net Income1.68B
Depreciation & Amortization2.46B
Stock-Based Compensation258.00M
Change in Working Capital-800.00M
Others306.00M
Capital Expenditures-760.00M
Free Cash Flow2.67B

Cash Flow Quality Analysis

FCF Conversion Rate

159.1%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

22.2%

Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.

FCF Growth Trend

-13.1%

Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.

Working Capital Impact

-$800.00M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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Becton, Dickinson and Company Funding & Solvency Profile

BDX ยท NYSE
Cash & Cash Equivalents813.00M
Net Receivables2.21B
Inventory3.36B
Other Current Assets1.63B
Total Current Assets8 B
Property, Plant & Equipment6.08B
Goodwill & Intangible Assets34.30B
Long-Term Investments0.00
Other Non-Current Assets2.43B
Total Non-Current Assets9 B
Total Assets
50.83B

Financial Health Analysis

Current Ratio

0.94x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Debt-to-Equity Ratio

1.11x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

-495000000

Negative working capital indicates short-term liabilities exceed short-term assetsโ€”potential liquidity stress.

Asset Composition

16% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Negative working capital with limited cash reserves requires immediate attentionโ€”potential liquidity crisis if not addressed promptly.

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Becton, Dickinson and Company Street Expectations Map

BDX ยท NYSE

Wall Street analysts project that BDX stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 174.81, with estimates ranging from a low of 159.00 to a high of 204.00.

Lowest Target
159.00
9.20%
Consensus Target
174.81
20.05%
Highest Target
204.00
40.10%

The consensus 1-year price target stands at 174.81, with estimates ranging from a low of 159.00 to a high of 204.00.

Analyst Consensus Analysis

Upside Potential

+20.1%

Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.

Analyst Agreement

25.7% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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Becton, Dickinson and Company Insider Positioning

BDX ยท NYSE

During the last 12 months, insiders have purchased $1.01M and sold $923K worth of BDX shares, resulting in $82K of net buying activity.

3 Months

Bought

0

0.00

Sold

224

34.06K

Net Activity

-34K

-$34K

3-6 Months

Bought

0

0.00

Sold

2.4K

466.08K

Net Activity

-466K

-$466K

6-9 Months

Bought

0

0.00

Sold

1.3K

245.86K

Net Activity

-246K

-$246K

9-12 Months

Bought

5.3K

1.01M

Sold

921

177.42K

Net Activity

+828K

+$828K

Top Buyers

1
HG

Hayes Gregory

Director

5.3K sharesโ€ข1 transactions

$1.01M

Top Sellers

1
FC

Fraser Claire

Director

1.8K sharesโ€ข2 transactions

$338K

2
GMD

Garrison Michael David

Officer: Evp & Pres Med.Essntl&Biopharm

1.2K sharesโ€ข3 transactions

$249K

3
SBL

Scott Bertram L

Director

1.2K sharesโ€ข2 transactions

$212K

4
FM

Feld Michael

Officer: Evp, Chief Revenue Officer

695 sharesโ€ข10 transactions

$124K

Insider Activity Analysis

Net Insider Sentiment

Bullish

Moderately bullish with $82K net buying. Insiders show cautious optimism through measured share purchases.

Buy/Sell Ratio

1.09:1

Positive buy/sell ratio. Buying exceeds or matches selling, indicating net positive insider sentiment.

Recent Trend (3 Months)

$34K

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

4 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Balanced insider activity: Roughly equal buying and selling suggests normal portfolio management rather than strong directional signals. Look to other metrics for clearer investment insights.

0.66%
Dividend Yield
-4%
3Y+64.0%
5Y+72.0%
10Y+64.0%
ย 

bdx Dividend History

BDX
10Y CAGR +8%
Latest $1.05
Annual $4.56005
5 year growth trend
Last Period: +0%