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Becton Dickinson
(NYSE:BDX)
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Rating:65Neutral
Price Target:
$209.00
▲(10.13% Upside)
Action:Reiterated
Date:08/06/26
BDX scores as a mid-quality setup: fundamentals show stable operating profitability and ongoing cash generation but a recent TTM soft patch (revenue decline, net margin compression, and lower free cash flow) is the biggest anchor. Technicals are supportive with a clear uptrend and positive momentum, though near-term indicators are stretched. Valuation is a notable headwind given the high P/E, partially offset by a moderate dividend yield and an earnings call backdrop of raised FY26 EPS guidance and strong productivity/cash flow execution.
Positive Factors
Recurring consumables and workflow integration
BD’s substantial consumables exposure creates repeat purchasing tied to routine healthcare and laboratory activity. Integration into established workflows and standardization can make replacement less attractive, supporting customer retention and more durable revenue visibility across healthcare settings.
Negative Factors
Recent revenue and profitability deterioration
The latest TTM deterioration shows that BD’s otherwise stable operating model is not currently converting into consistent top-line or bottom-line growth. Persistent weakness would reduce internal funding capacity and make margin recovery more important for sustaining earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables and workflow integration
BD’s substantial consumables exposure creates repeat purchasing tied to routine healthcare and laboratory activity. Integration into established workflows and standardization can make replacement less attractive, supporting customer retention and more durable revenue visibility across healthcare settings.
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.
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The Fly
The FlyBecton Dickinson (BDX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$52.79B
Dividend Yield2.05%
Average Volume (3M)1.74M
Price to Earnings (P/E)58.5
Beta (1Y)0.34
Revenue Growth-2.56%
EPS Growth-40.38%
CountryUS
Employees72,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)3.32
Shares Outstanding272,386,800
10 Day Avg. Volume1,473,531
30 Day Avg. Volume1,738,210
Financial Highlights & Ratios
PEG Ratio-37.04
Price to Book (P/B)1.66
Price to Sales (P/S)1.93
P/FCF Ratio15.80
Enterprise Value/Market Cap1.09
Enterprise Value/Revenue2.76
Enterprise Value/Gross Profit5.99
Enterprise Value/Ebitda12.91
Forecast
1Y Price Target
$191.80Price Target Upside1.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)13.25
Revenue Forecast (FY)$19.70B
Becton Dickinson Business Overview & Revenue Model
Company Description
Operating globally, Becton, Dickinson and Company (BD) is a prominent enterprise focused on the development, manufacturing, and distribution of a broad spectrum of medical technology. This includes essential medical supplies, sophisticated devices...
How the Company Makes Money
BD primarily makes money by selling medical devices and consumable supplies to hospitals, clinics, laboratories, life science researchers, and pharmaceutical companies. A significant portion of revenue comes from recurring, high-volume consumables...
Becton Dickinson Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong execution across BD's focused med‑tech portfolio: revenue and adjusted EPS beat expectations, growth platforms showed double-digit expansion, productivity and cash flow improved materially, and the company raised EPS guidance. Headwinds are defined and manageable — chiefly Alaris remediation, tariffs, vaccine weakness in China and some margin pressure versus the prior year — and management laid out clear mitigation actions (pricing, productivity, commercial investments, AI for supply chain). Overall the positives materially outweigh the negatives.Positive Updates
Revenue Outperformance
Q3 revenue of $5.0 billion, up 4.4% year-over-year (FX-neutral), ahead of expectations and driving an update to full-year revenue guidance toward the high end of the low single-digit range.
Negative Updates
Margin Pressure Versus Prior Year
Adjusted gross margin was 54.3% (down ~100 basis points year-over-year) and adjusted operating margin 24.9% (down ~130 basis points year-over-year), with benefits from productivity and mix largely offset by tariffs and investments.
Read all updates
Q3-2026 Updates
Positive
Negative
Revenue Outperformance
Q3 revenue of $5.0 billion, up 4.4% year-over-year (FX-neutral), ahead of expectations and driving an update to full-year revenue guidance toward the high end of the low single-digit range.
Read all positive updates
Company Guidance
BD updated fiscal '26 guidance, saying revenue is now expected toward the high end of its low single‑digit FX‑neutral range (currency now a ~100 bp tailwind at current spot rates) and raising the midpoint of adjusted EPS guidance to a range of $12.62–$12.72; the company still expects adjusted operating margin of about 25% (inclusive of tariffs) and an adjusted effective tax rate of 16–17%. Management cited Q3 results of $5.0B revenue (up 4.4%), adjusted gross margin of 54.3%, adjusted operating margin of 24.9% and adjusted EPS of $3.23 as the basis for the update, noted tariffs trimmed margins by roughly 110 bps, and highlighted YTD free cash flow of $1.7B (up 45%) and $3.1B returned to shareholders ($2.3B repurchases, $0.9B dividends) with net leverage ~2.9x (2.5x target). Looking to FY‑27, management reiterated a low single‑digit revenue starting point with a defined ~200 bp Alaris headwind next year and said it expects only “modest” EPS leverage off that baseline, with pricing, BD Excellence productivity and favorable mix helping to offset headwinds and a longer‑term free cash flow conversion goal of ~90%.Becton Dickinson Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.84B | 21.84B | 20.18B | 19.37B | 18.87B | 19.13B |
| Gross Profit | 9.61B | 9.92B | 9.13B | 8.17B | 8.48B | 8.63B |
| EBITDA | 4.46B | 4.96B | 4.82B | 4.40B | 4.41B | 4.39B |
| Net Income | 941.00M | 1.68B | 1.71B | 1.48B | 1.78B | 2.09B |
Balance Sheet | ||||||
| Total Assets | 50.73B | 55.33B | 57.29B | 52.78B | 52.93B | 53.88B |
| Cash, Cash Equivalents and Short-Term Investments | 709.00M | 859.00M | 2.30B | 1.42B | 1.17B | 2.40B |
| Total Debt | 16.81B | 19.18B | 21.59B | 16.82B | 16.95B | 18.42B |
| Total Liabilities | 26.31B | 29.94B | 31.40B | 26.98B | 27.65B | 30.20B |
| Stockholders Equity | 24.42B | 25.39B | 25.89B | 25.80B | 25.28B | 23.68B |
Cash Flow | ||||||
| Free Cash Flow | 2.61B | 2.67B | 3.07B | 2.12B | 1.66B | 3.42B |
| Operating Cash Flow | 3.33B | 3.43B | 3.80B | 2.99B | 2.63B | 4.65B |
| Investing Cash Flow | -1.04B | -818.00M | -5.51B | -716.00M | -3.23B | -1.88B |
| Financing Cash Flow | -2.18B | -3.62B | 2.09B | -1.96B | -591.00M | -3.31B |
Becton Dickinson Technical Analysis
Positive
189.78
Price Trends
184.64
Positive
169.96
Positive
163.27
Positive
Market Momentum
3.96
Negative
72.46
Negative
91.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDX, the sentiment is Positive. The current price of 189.78 is above the 20-day moving average (MA) of 186.05, above the 50-day MA of 184.64, and above the 200-day MA of 163.27, indicating a bullish trend. The MACD of 3.96 indicates Negative momentum. The RSI at 72.46 is Negative, neither overbought nor oversold. The STOCH value of 91.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $27.36B | 50.00 | 18.51% | 0.22% | 12.42% | 17.07% | |
65 Neutral | $52.79B | 58.54 | 3.79% | 2.05% | -2.56% | -40.38% | |
65 Neutral | $4.02B | 134.03 | 1.41% | ― | -8.84% | ― | |
58 Neutral | $5.53B | -5.60 | -31.83% | 1.04% | -14.49% | -644.98% | |
58 Neutral | $46.62B | 41.06 | 5.45% | ― | 12.12% | -46.11% | |
57 Neutral | $12.67B | -12.11 | -16.60% | 0.16% | 5.36% | -632.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BDX
Becton Dickinson
200.42
57.41
40.15%
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25.65
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ICUI
ICU Medical
168.33
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38.35%
TFX
Teleflex
136.58
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4.34%
WST
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394.03
87.74
28.64%
MDLN
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34.88
-6.12
-14.93%
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.