Latest revenue
$4.71B
as of 2026-03-31
Latest net income
$72.0M
as of 2026-03-31
Net margin
1.5%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $40.68B
- Enterprise value
- $59.48B
- P/E (trailing)
- 24.2×
- Forward P/E
- —
- P/B
- 1.61×
- Dividend yield
- 2.8%
- 52-wk high
- $213.08
- 52-wk low
- $141.82
- Beta
- —
- Shares out
- 275.5M
5-year trend
What this company does
Becton Dickinson manufactures medical devices, instruments, and supplies—syringes, catheters, IV systems, surgical tools, and medication management equipment used by hospitals, labs, and clinicians worldwide. It generates revenue primarily from selling these consumable medical products and devices to healthcare providers, posting $5.25 billion in quarterly sales. BD just completed a major portfolio reshaping, spinning off its Biosciences and Diagnostic Solutions unit to merge with Waters Corporation in February 2026, netting a $4 billion cash distribution and refocusing on core medical technology.
Generated from BDX's filing dated 2025-11-25
Key risks
- Post-spin leverage: $19.5B total debt remains against shrunken business after divesting Biosciences/Diagnostic Solutions to Waters; only $4B cash received.
- Revenue dilution: Spin-off of Biosciences and Diagnostic Solutions (Feb 2026) removes a significant segment, with historical results reclassified to discontinued operations.
- Margin pressure: R&D cut 11% YoY to $306M while integration/restructuring expense rose 21% to $111M, signaling ongoing transformation costs.
Generated from BDX's filing dated 2025-11-25
Profitability
Operating margin
11.8%
0.6%Net margin
7.7%
9.1%Return on equity
6.6%
0.4%Return on assets
3.0%
1.9%Leverage
Debt / equity
1.18×
2.8%Long-term debt / equity
0.69×
0.2%Debt / assets
54.1%
1.3%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $4.71B | +5.2% | $72.0M | -76.6% | 1.5% |
Q4 2025 2025-12-31 | $5.25B | +1.6% | $382.0M | +26.1% | 7.3% |
Q3 2025 2025-09-30 | $6.68B | +22.9% | $493.0M | +23.3% | 7.4% |
Q2 2025 2025-06-30 | $5.51B | +10.4% | $574.0M | +17.9% | 10.4% |
Q1 2025 2025-03-31 | $4.48B | -11.2% | $308.0M | -42.6% | 6.9% |
Q4 2024 2024-12-31 | $5.17B | +9.8% | $303.0M | +7.8% | 5.9% |
Q3 2024 2024-09-30 | $5.44B | — | $400.0M | — | 7.4% |
Q2 2024 2024-06-30 | $4.99B | +2.3% | $487.0M | +19.7% | 9.8% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Surgical & Medical Instruments & Apparatus · SIC 3841
Your notes
Keep private notes on BDX — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$1.0M
Insider selling
$1.5M
Net activity
−$528.3K
Distinct insiders
6
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns BDX
Institutional value
$15.34B
Total shares held
99.8M
Distinct holders
761
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 18.5M | $2.91B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 15.3M | $2.41B | — | New |
| 3 | First Eagle Investment Management, LLC | 11.9M | $1.88B | — | New |
| 4 | Invesco Ltd. | 10.2M | $1.60B | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 2.3M | $357.1M | — | New |
| 6 | Legal & General Group Plc | 2.1M | $325.6M | — | New |
| 7 | Bank of New York Mellon Corp | 1.7M | $264.4M | — | New |
| 8 | VANGUARD FIDUCIARY TRUST CO | 1.6M | $252.1M | — | New |
| 9 | UBS Group AG | 1.4M | $223.6M | — | New |
| 10 | WELLS FARGO & COMPANY/MN | 1.3M | $199.5M | — | New |
| 11 | COOKE & BIELER LP | 1.1M | $180.6M | — | New |
| 12 | DEUTSCHE BANK AG\ | 1.1M | $174.9M | — | New |
| 13 | ProShare Advisors LLC | 1.0M | $164.2M | — | New |
| 14 | ENVESTNET ASSET MANAGEMENT INC | 1.0M | $161.0M | — | New |
| 15 | FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | 981.9K | $154.4M | — | New |
| 16 | Swiss National Bank | 836.5K | $131.5M | — | New |
| 17 | CITIGROUP INC | 811.8K | $127.6M | — | New |
| 18 | HSBC HOLDINGS PLC | 682.4K | $107.1M | — | New |
| 19 | California Public Employees Retirement System | 675.4K | $106.2M | — | New |
| 20 | Mitsubishi UFJ Asset Management Co., Ltd. | 669.6K | $105.3M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $4B cash from the Waters spin-off but $2.6B current debt and $16.9B long-term debt, what's the deleveraging plan and pro-forma leverage target?
- 2
Post-spin RemainCo loses Biosciences/Diagnostics—can you quantify revenue growth and margin profile of the stub, and why isn't this dis-synergistic?
- 3
R&D fell to $306M from $343M while restructuring rose to $111M—is innovation being sacrificed to defend near-term operating margins?
Refreshed when BDX files a new report · last from 2025-11-25