Becton, Dickinson and Co (BDX)
NYSE:BDX
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Becton Dickinson
(NYSE:BDX)
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Rating:64Neutral
Price Target:
$153.00
▼(-3.49% Downside)
Action:Reiterated
Date:05/13/26
The score is driven by solid financial quality—especially strong free cash flow and improving leverage—plus supportive earnings-call guidance with raised adjusted EPS. These positives are tempered by weak technicals (price below key moving averages with negative MACD) and a less helpful valuation signal due to a negative P/E, alongside near-term operational headwinds (tariffs, China, and a temporary FDA-related shipment hold).
Positive Factors
Cash generation
Strong and growing free cash flow provides durable internal funding for debt reduction, buybacks, dividends and targeted R&D/capex. That cash conversion cushions the business against margin pressure and underpins multi-year financial flexibility and strategic investments.
Negative Factors
Top-line and margin pressure
Sustained revenue decline and margin compression reduce return on capital and constrain reinvestment. If mix shifts, tariffs or volume declines persist, profitability could stay structurally lower, limiting long-term ROE recovery and the pace of deleveraging or growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Strong and growing free cash flow provides durable internal funding for debt reduction, buybacks, dividends and targeted R&D/capex. That cash conversion cushions the business against margin pressure and underpins multi-year financial flexibility and strategic investments.
Read all positive factors
Becton Dickinson Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows how Becton Dickinson’s sales are split across regions (U.S., Europe, Asia, etc.), revealing where revenue and growth are concentrated, which markets expose the company to regulatory or reimbursement risks, and how sensitive results are to currency swings.
Shows how Becton Dickinson’s sales are split across regions (U.S., Europe, Asia, etc.), revealing where revenue and growth are concentrated, which markets expose the company to regulatory or reimbursement risks, and how sensitive results are to currency swings.
Data provided by:
The Fly
The FlyBecton Dickinson (BDX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.49B
Dividend Yield2.13%
Average Volume (3M)3.28M
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth2.39%
EPS Growth-24.85%
CountryUS
Employees70,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)3.95
Shares Outstanding275,540,440
10 Day Avg. Volume4,001,216
30 Day Avg. Volume3,283,653
Financial Highlights & Ratios
PEG Ratio-36.95
Price to Book (P/B)1.66
Price to Sales (P/S)1.93
P/FCF Ratio15.80
Enterprise Value/Market Cap1.72
Enterprise Value/Revenue3.25
Enterprise Value/Gross Profit6.99
Enterprise Value/Ebitda16.68
Forecast
1Y Price Target
$182.20Price Target Upside14.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)12.59
Revenue Forecast (FY)$19.20B
Becton Dickinson Business Overview & Revenue Model
Company Description
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 indus...
How the Company Makes Money
BD primarily makes money by selling medical technology products and related solutions to healthcare providers, laboratories, and other customers worldwide, recognizing revenue largely from product sales across its three operating segments. (1) BD ...
Becton Dickinson Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized broad-based operational and commercial execution with revenue growth, margin resilience, strong cash generation and an increased full-year adjusted EPS outlook. Several high-growth platforms delivered double-digit growth and BD Excellence drove meaningful productivity and quicker product launches. Notable near-term headwinds include Alaris' upgrade-cycle comparisons, weaker vaccine demand, China market dynamics, tariff-related margin pressure, a $450 million noncash impairment, and a temporary ship hold following an FDA warning letter. Overall, positive operational momentum and capital returns outweighed the focused and disclosed challenges, giving confidence in the New BD strategy while acknowledging short-term risks.Positive Updates
Revenue Growth and Top-Line Performance
Q2 revenue of $4.7 billion, up 2.6% year-over-year (FX-neutral). Management reaffirmed full-year revenue guidance of low single-digit growth and expects H2 growth to be roughly similar to H1.
Negative Updates
Alaris Headwind and Upgrade Cycle Lapping
Alaris remains a known headwind: management indicated ~100 basis points of Alaris-related revenue headwind this fiscal year and expects it to increase to ~200 basis points in FY27 due to tougher year-over-year comparisons tied to a prior remediation-driven upgrade cycle.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Top-Line Performance
Q2 revenue of $4.7 billion, up 2.6% year-over-year (FX-neutral). Management reaffirmed full-year revenue guidance of low single-digit growth and expects H2 growth to be roughly similar to H1.
Read all positive updates
Company Guidance
BD reaffirmed full-year revenue guidance of low single-digit growth and said second-half revenue should be roughly similar to the first half, with currency expected to be a ~120 basis‑point tailwind; it raised full‑year adjusted EPS to $12.52–$12.72 and expects adjusted operating margin of ~25% (inclusive of tariffs) and an adjusted effective tax rate of 16–17%. In Q2 BD reported $4.7B revenue (+2.6% YoY), adjusted EPS $2.90 (+3.9%), adjusted gross margin 54.7% (down 90 bps, including +70 bps from productivity/mix and -160 bps from tariffs) and adjusted operating margin 24.2% (down 110 bps); adjusted EPS excludes ≈$450M of noncash impairment charges. Year‑to‑date free cash flow was $1.1B, BD returned ~$2.3B to shareholders in the quarter (including $2.0B repurchases and $0.3B dividends), retired $2.1B of debt, ended the quarter at ~2.9x net leverage (targeting 2.5x long‑term), and cited BD Excellence productivity of ~8% in Q2 plus progress on a $200M cost‑out program with $150M run rate already delivered.Becton Dickinson Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
68
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.36B | 21.84B | 20.18B | 19.37B | 18.87B | 19.13B |
| Gross Profit | 9.93B | 9.92B | 9.13B | 8.17B | 8.48B | 8.63B |
| EBITDA | 4.16B | 4.96B | 4.82B | 4.40B | 4.41B | 4.39B |
| Net Income | 1.14B | 1.68B | 1.71B | 1.48B | 1.78B | 2.09B |
Balance Sheet | ||||||
| Total Assets | 50.83B | 55.33B | 57.29B | 52.78B | 52.93B | 53.88B |
| Cash, Cash Equivalents and Short-Term Investments | 816.00M | 859.00M | 2.30B | 1.42B | 1.17B | 2.40B |
| Total Debt | 17.28B | 19.18B | 21.59B | 16.82B | 16.95B | 18.42B |
| Total Liabilities | 26.70B | 29.94B | 31.40B | 26.98B | 27.65B | 30.20B |
| Stockholders Equity | 24.13B | 25.39B | 25.89B | 25.80B | 25.28B | 23.68B |
Cash Flow | ||||||
| Free Cash Flow | 3.14B | 2.67B | 3.07B | 2.12B | 1.66B | 3.42B |
| Operating Cash Flow | 3.90B | 3.43B | 3.80B | 2.99B | 2.63B | 4.65B |
| Investing Cash Flow | -1.15B | -818.00M | -5.51B | -716.00M | -3.23B | -1.88B |
| Financing Cash Flow | -2.37B | -3.62B | 2.09B | -1.96B | -591.00M | -3.31B |
Becton Dickinson Technical Analysis
Negative
158.54
Price Trends
152.73
Negative
159.03
Negative
153.34
Negative
Market Momentum
-2.45
Negative
45.42
Neutral
44.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDX, the sentiment is Negative. The current price of 158.54 is above the 20-day moving average (MA) of 146.94, above the 50-day MA of 152.73, and above the 200-day MA of 153.34, indicating a bearish trend. The MACD of -2.45 indicates Negative momentum. The RSI at 45.42 is Neutral, neither overbought nor oversold. The STOCH value of 44.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BDX.
Becton Dickinson Risk Analysis
Becton Dickinson disclosed 25 risk factors in its most recent earnings report. Becton Dickinson reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Becton Dickinson Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $21.58B | 32.50 | 17.87% | 0.32% | 11.24% | 17.11% | |
76 Outperform | $159.03B | 49.79 | 17.01% | ― | 21.43% | 20.38% | |
73 Outperform | $30.44B | 20.62 | 24.41% | 0.92% | 10.28% | 16.40% | |
64 Neutral | $40.49B | -35.47 | 4.54% | 2.13% | 2.39% | -24.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $9.69B | -144.20 | -16.43% | 2.75% | -4.79% | -78.01% |
* Healthcare Sector Average
BDX
Becton Dickinson
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14.66
11.14%
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Becton Dickinson Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Becton Dickinson Announces €600 Million Senior Notes Offering
Positive
May 12, 2026
On May 11, 2026, Becton, Dickinson and Company and its Luxembourg-based financing subsidiary entered into an underwriting agreement for a €600 million offering of 3.855% notes due 2033, which will be fully and unconditionally guaranteed on a...
Business Operations and StrategyExecutive/Board Changes
Becton Dickinson announces planned interventional segment leadership transition
Neutral
Apr 9, 2026
Becton, Dickinson and Company announced that Richard E. Byrd, executive vice president and president of its Interventional segment, informed the company on April 6, 2026, of his intention to retire. Byrd will remain in his role through June 2026, ...
Business Operations and StrategyPrivate Placements and Financing
Becton Dickinson Expands Debt Tender Offers Amid Strong Demand
Positive
Feb 25, 2026
On February 25, 2026, BD announced early tender results for its cash tender offers to repurchase multiple series of outstanding senior notes and debentures, alongside the pricing of these offers. The company increased the aggregate offer cap from ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.