Recent News
On April 28, 2026 the board declared a quarterly dividend of $1.05 per share, payable June 30, 2026 to holders of record June 9, 2026.
On May 18, 2026 BD named Peter Menziuso executive vice president and president of BD Interventional, effective June 1, 2026.
Regulatory and product-quality actions continued: BD placed certain ChloraPrep™ and PurPrep™ lots on a U.S. ship hold while performing additional release testing and subsequently issued a voluntary recall of specified lots in early June.
On June 23, 2026 BD announced that its CentroVena One™ Insertion System received a Vizient Innovative Technology contract.
Technical Analysis
Directional indicators show bullish DI+ behavior: DI+ reading sits at 29.84 with a dip-and-reversal pattern, and DI- at 23.15 shows a peak-and-reversal pattern; both dynamics favor a near-term bullish directional bias even though ADX equals 14.6, which indicates no strong trend. Relating to valuation, this short-term directional lift can reduce downside risk against WMDST’s under-valued assessment.
MACD sits at 2.02 with a recent dip-and-reversal and a signal line at 1.50; MACD presently trades above its signal line, which constitutes a bullish momentum read and supports the likelihood of continuing positive price momentum over coming sessions.
MRO reads 32.74 and shows an increasing trajectory; because MRO remains positive, price currently sits above model target levels and faces potential mean reversion pressure. The rising MRO suggests momentum may outpace target-driven valuation, increasing the chance of a short-term downward adjustment if technical momentum stalls.
RSI at 52.82 and rising indicates neutral-to-slightly bullish internals that permit upside without overbought strain; combined with price marginally above key averages, this implies room for consolidation rather than abrupt exhaustion.
Price structure supports a constructive near-term bias: last close $158.17 sits above the 200-day average ($152.89), the 50-day average ($148.46), and the 20-day average ($154.30). The 12-day EMA shows a dip-and-reversal, aligning with the MACD read and reinforcing short-term bullish momentum. SuperTrend support lies near $149.98, while the upper Bollinger band measures about $157.75 (1×) and $161.20 (2×), framing a consolidation band with controlled volatility and lower-than-average recent volume versus the 50-/200-day averages.
Fundamental Analysis
Revenue totaled $4,714,000,000 for the period ending March 31, 2026, with reported net income of -$311,000,000. Operating margin equals 13.28%, while EBIT margin equals 3.99%; operating margin improved year-over-year by 36.205% even as EBIT margin contracted substantially on a YoY basis. The company reported EPS of $2.90 versus an estimate of $2.77, producing an EPS surprise of +4.69%.
Top-line and cash-flow dynamics show pressure: revenue growth measured at -10.244% and quarter-over-quarter revenue change -5.559%, while operating cash flow reached $600,000,000 and free cash flow totaled $475,000,000 for the period, producing a free cash flow yield of 1.057%. Capital expenditures stood at -$125,000,000. These figures indicate positive cash generation but slower revenue traction and constrained cash conversion relative to historical norms.
Leverage and liquidity remain notable constraints. Total debt equals $17,279,000,000 with net debt near $16,466,000,000 and debt-to-EBITDA at 24.41, reflecting elevated leverage relative to typical investment-grade med-tech peers. Current ratio equals 0.94 and quick ratio 0.55, indicating working-capital tightness versus the company’s operating scale. Interest-coverage sits at 1.26, pointing to limited cushion for interest costs.
Profitability and returns remain weak in absolute terms: net income negative, return on equity -1.289%, and return on assets -0.589%. Gross margin equals 45.69% while operating margin at 13.28% demonstrates operating leverage in product lines, but the negative net result and compressed EBIT margin highlight near-term profit conversion issues.
Valuation metrics provide context for WMDST’s assessment: price-to-earnings stands at 56.24 with a forward P/E near 52.65; price-to-book equals 1.86 and enterprise value stands near $61.40 billion against market capitalization near $44.94 billion. WMDST values the stock as under-valued given the mix of operational scale, portfolio actions, and near-term technical improvement, while acknowledging elevated leverage and negative net income that temper valuation upside.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 1.0 B |
| Operating Cash Flow | $ 600.0 M | |
| Capital Expenditures | $ -125.00 M | |
| Change In Working Capital | $ -2.00 M | |
| Dividends Paid | $ -290.00 M | |
| Cash Flow Delta | $ -10.00 M | |
| End Period Cash Flow | $ 1.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.7 B | |
| Forward Revenue | $ -3.50 B | |
| COSTS | ||
| Cost Of Revenue | $ 2.6 B | |
| Depreciation | $ 520.0 M | |
| Depreciation and Amortization | $ 520.0 M | |
| Research and Development | $ 249.0 M | |
| Total Operating Expenses | $ 4.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.2 B | |
| EBITDA | $ 708.0 M | |
| EBIT | $ 188.0 M | |
| Operating Income | $ 626.0 M | |
| Interest Income | $ 9.0 M | |
| Interest Expense | $ 149.0 M | |
| Net Interest Income | $ -140.00 M | |
| Income Before Tax | $ 39.0 M | |
| Tax Provision | $ 76.0 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -311.00 M | |
| Net Income From Continuing Operations | $ -108.00 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.77 | |
| EPS Actual | $ 2.90 | |
| EPS Difference | $ 0.13 | |
| EPS Surprise | 4.693 % | |
| Forward EPS | $ 3.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 50.8 B | |
| Intangible Assets | $ 34.3 B | |
| Net Tangible Assets | $ -10.17 B | |
| Total Current Assets | $ 8.0 B | |
| Cash and Short-Term Investments | $ 816.0 M | |
| Cash | $ 813.0 M | |
| Net Receivables | $ 2.2 B | |
| Inventory | $ 3.4 B | |
| Long-Term Investments | $ 2.4 B | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 2.6 B | |
| Total Current Liabilities | $ 8.5 B | |
| Net Debt | $ 16.5 B | |
| Total Debt | $ 17.3 B | |
| Total Liabilities | $ 26.7 B | |
| EQUITY | ||
| Total Equity | $ 24.1 B | |
| Retained Earnings | $ 17.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 87.58 | |
| Shares Outstanding | 275.540 M | |
| Revenue Per-Share | $ 17.11 | |
| VALUATION | Market Capitalization | $ 44.9 B |
| Enterprise Value | $ 61.4 B | |
| Enterprise Multiple | 86.725 | |
| Enterprise Multiple QoQ | 33.559 % | |
| Enterprise Multiple YoY | 20.177 % | |
| Enterprise Multiple IPRWA | high: 167.868 BDX: 86.725 mean: 82.012 median: 80.811 low: -193.913 |
|
| EV/R | 13.025 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.106 | |
| Asset To Liability | 1.904 | |
| Debt To Capital | 0.417 | |
| Debt To Assets | 0.34 | |
| Debt To Assets QoQ | -4.592 % | |
| Debt To Assets YoY | -3.92 % | |
| Debt To Assets IPRWA | high: 0.725 BDX: 0.34 mean: 0.263 median: 0.249 low: 0.002 |
|
| Debt To Equity | 0.716 | |
| Debt To Equity QoQ | -7.352 % | |
| Debt To Equity YoY | -6.211 % | |
| Debt To Equity IPRWA | high: 4.524 BDX: 0.716 mean: 0.53 median: 0.426 low: -0.465 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.862 | |
| Price To Book QoQ | -16.725 % | |
| Price To Book YoY | -24.652 % | |
| Price To Book IPRWA | high: 20.943 mean: 5.864 median: 5.755 BDX: 1.862 low: -12.173 |
|
| Price To Earnings (P/E) | 56.238 | |
| Price To Earnings QoQ | -17.575 % | |
| Price To Earnings YoY | -13.442 % | |
| Price To Earnings IPRWA | high: 194.313 mean: 124.477 median: 117.031 BDX: 56.238 low: -198.766 |
|
| PE/G Ratio | -163.483 | |
| Price To Sales (P/S) | 9.533 | |
| Price To Sales QoQ | -11.441 % | |
| Price To Sales YoY | -19.435 % | |
| Price To Sales IPRWA | high: 62.134 mean: 30.786 median: 21.968 BDX: 9.533 low: 0.285 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 52.647 | |
| Forward PE/G | -153.043 | |
| Forward P/S | -12.804 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 6.401 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.089 | |
| Asset Turnover Ratio QoQ | -6.429 % | |
| Asset Turnover Ratio YoY | -7.659 % | |
| Asset Turnover Ratio IPRWA | high: 0.411 median: 0.128 mean: 0.124 BDX: 0.089 low: 0.002 |
|
| Receivables Turnover | 2.0 | |
| Receivables Turnover Ratio QoQ | 4.782 % | |
| Receivables Turnover Ratio YoY | 7.515 % | |
| Receivables Turnover Ratio IPRWA | high: 3.141 BDX: 2.0 mean: 1.933 median: 1.582 low: 0.361 |
|
| Inventory Turnover | 0.688 | |
| Inventory Turnover Ratio QoQ | -3.388 % | |
| Inventory Turnover Ratio YoY | -13.482 % | |
| Inventory Turnover Ratio IPRWA | high: 2.164 BDX: 0.688 mean: 0.602 median: 0.497 low: 0.137 |
|
| Days Sales Outstanding (DSO) | 45.615 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 165.13 | |
| Cash Conversion Cycle Days QoQ | -0.244 % | |
| Cash Conversion Cycle Days YoY | -1.121 % | |
| Cash Conversion Cycle Days IPRWA | high: 587.726 median: 180.7 BDX: 165.13 mean: 160.101 low: -133.614 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -9.523 | |
| CapEx To Revenue | -0.027 | |
| CapEx To Depreciation | -0.24 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 38.8 B | |
| Net Invested Capital | $ 41.4 B | |
| Invested Capital | $ 41.4 B | |
| Net Tangible Assets | $ -10.17 B | |
| Net Working Capital | $ -495.00 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.096 | |
| Current Ratio | 0.942 | |
| Current Ratio QoQ | -10.205 % | |
| Current Ratio YoY | -16.415 % | |
| Current Ratio IPRWA | high: 14.36 mean: 2.844 median: 2.112 BDX: 0.942 low: 0.038 |
|
| Quick Ratio | 0.547 | |
| Quick Ratio QoQ | -6.073 % | |
| Quick Ratio YoY | -14.859 % | |
| Quick Ratio IPRWA | high: 12.588 mean: 2.11 median: 1.518 BDX: 0.547 low: 0.37 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 24.405 | |
| Cost Of Debt | 0.486 % | |
| Interest Coverage Ratio | 1.262 | |
| Interest Coverage Ratio QoQ | -64.644 % | |
| Interest Coverage Ratio YoY | -62.933 % | |
| Interest Coverage Ratio IPRWA | high: 87.935 median: 20.603 mean: 19.023 BDX: 1.262 low: -102.892 |
|
| Operating Cash Flow Ratio | 0.146 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -1.072 | |
| Dividend Payout Ratio | -0.932 | |
| Dividend Rate | $ 1.05 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.31 % | |
| Revenue Growth | -10.244 % | |
| Revenue Growth QoQ | -5.559 % | |
| Revenue Growth YoY | -609.145 % | |
| Revenue Growth IPRWA | high: 16.503 % median: -5.375 % mean: -7.674 % BDX: -10.244 % low: -65.483 % |
|
| Earnings Growth | -0.344 % | |
| Earnings Growth QoQ | -98.703 % | |
| Earnings Growth YoY | -85.249 % | |
| Earnings Growth IPRWA | high: 200.0 % BDX: -0.344 % median: -7.623 % mean: -15.358 % low: -145.833 % |
|
| MARGINS | ||
| Gross Margin | 45.694 % | |
| Gross Margin QoQ | -0.462 % | |
| Gross Margin YoY | 6.734 % | |
| Gross Margin IPRWA | high: 95.029 % median: 66.064 % mean: 64.66 % BDX: 45.694 % low: 4.929 % |
|
| EBIT Margin | 3.988 % | |
| EBIT Margin QoQ | -61.639 % | |
| EBIT Margin YoY | -59.097 % | |
| EBIT Margin IPRWA | high: 63.148 % median: 21.811 % mean: 21.383 % BDX: 3.988 % low: -233.035 % |
|
| Return On Sales (ROS) | 13.28 % | |
| Return On Sales QoQ | 5.355 % | |
| Return On Sales YoY | 36.205 % | |
| Return On Sales IPRWA | high: 63.148 % median: 21.317 % mean: 20.917 % BDX: 13.28 % low: -219.267 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 475.0 M | |
| Free Cash Flow Yield | 1.057 % | |
| Free Cash Flow Yield QoQ | 9.082 % | |
| Free Cash Flow Yield YoY | 1787.5 % | |
| Free Cash Flow Yield IPRWA | high: 7.748 % BDX: 1.057 % mean: 0.481 % median: 0.47 % low: -15.26 % |
|
| Free Cash Growth | -13.321 % | |
| Free Cash Growth QoQ | -70.635 % | |
| Free Cash Growth YoY | -85.836 % | |
| Free Cash Growth IPRWA | high: 324.237 % BDX: -13.321 % mean: -33.507 % median: -37.858 % low: -397.308 % |
|
| Free Cash To Net Income | -1.527 | |
| Cash Flow Margin | 26.305 % | |
| Cash Flow To Earnings | -3.987 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -0.589 % | |
| Return On Assets QoQ | -184.993 % | |
| Return On Assets YoY | -204.433 % | |
| Return On Assets IPRWA | high: 5.251 % mean: 2.213 % median: 1.797 % BDX: -0.589 % low: -34.616 % |
|
| Return On Capital Employed (ROCE) | 0.444 % | |
| Return On Equity (ROE) | -0.013 | |
| Return On Equity QoQ | -185.308 % | |
| Return On Equity YoY | -205.656 % | |
| Return On Equity IPRWA | high: 0.413 mean: 0.033 median: 0.032 BDX: -0.013 low: -0.942 |
|
| DuPont ROE | -1.259 % | |
| Return On Invested Capital (ROIC) | 0.272 % | |
| Return On Invested Capital QoQ | -77.027 % | |
| Return On Invested Capital YoY | -72.245 % | |
| Return On Invested Capital IPRWA | high: 8.753 % mean: 2.585 % median: 2.32 % BDX: 0.272 % low: -14.938 % |
|