Recent News
On June 6, 2026 the company issued a voluntary recall for specific lots of ChloraPrep™ Clear and FREPP™ Clear applicators due to microbial contamination. The firm previously placed ChloraPrep™ and PurPrep™ on U.S. ship hold while conducting additional release testing, citing a Warning Letter tied to the El Paso manufacturing site; the company disclosed related filings during May 2026. BD named Vitor Roque chief financial officer effective May 7, 2026.
Technical Analysis
Directional indicators show a bullish tilt: DI+ registers 31.27 and trends higher, while DI- reads 24.12 and shows a peak-and-reversal. ADX at 14.08 registers weak trend strength, implying directional readings more likely reflect short-term bias than a sustained trend; this combination supports potential range-bound upside rather than an extended breakout.
MACD registers 1.51 and sits below the signal line at 1.57, with the MACD trend labeled peak-and-reversal; momentum therefore reads bearish at the moment, introducing downside risk to any immediate rally.
MRO sits at 28.1 with a peak-and-reversal pattern, which implies price currently trades above the model target and carries inherent downward pressure; the magnitude suggests a meaningful reversion risk if momentum fails to regain strength.
RSI at 52.52 with a peak-and-reversal indicates neutral-to-weak momentum and permits consolidation between short-term support and resistance without an overbought constraint.
Price action relative to moving averages looks modestly constructive: last close $156.36 sits above the 200-day average $153.05 and the 20-day average $154.14, though the 12-day EMA shows a peak-and-reversal. Bollinger bands place near-term resistance around $157–$160 and support near $148–$150; the super trend lower at $149.98 provides an actionable short-term support reference for directional scenarios. Volume currently runs below 10-, 50- and 200-day averages, which reduces conviction behind recent moves and favors range-bound trading until volume returns.
Fundamental Analysis
Top-line and profit dynamics reflect ongoing pressure: total revenue $4,714,000,000 declined about 6.09% year-over-year and roughly 5.56% quarter-over-quarter. Net income registered a loss of $311,000,000 for the period, while operating cash flow reached $600,000,000 and free cash flow $475,000,000, supporting cash generation despite the headline loss.
Margins show disparity with peers: EBIT margin stands at 3.99% and fell approximately 61.64% quarter-over-quarter and about 59.10% year-over-year; that EBIT margin measures below the industry peer mean (20.94%) and industry peer median (21.81%). Operating margin at 13.28% improved year-over-year by 36.21% but still sits well under the peer median on EBIT measures.
EPS arrived at $2.90 versus an estimate of $2.77, an EPS surprise of roughly +4.69%, demonstrating modest beat-versus-expectations and some near-term earnings resilience despite margin contraction.
Leverage and coverage show strain: total debt $17,279,000,000, net debt about $16,466,000,000, and debt-to-EBITDA about 24.41x; interest coverage sits near 1.26x. Debt-to-equity at 0.716 exceeds the industry peer mean of 0.558, reflecting higher leverage relative to the peer mean. Current ratio 0.94 and quick ratio 0.55 remain below one, indicating working-capital pressure despite ample cash and short-term investments near $816,000,000.
Capital efficiency trends look weak: asset turnover 0.089 (down QoQ and YoY) and return on equity negative at -1.29% with declines QoQ and YoY. Free cash flow yield registers roughly 1.06%, while free-cash-flow fell YoY; operating cash generation nevertheless preserves flexibility for remediation and capital allocation.
Valuation context: WMDST values the stock as under-valued. Market multiples include a trailing P/E about 56.24 and forward P/E near 52.65, while enterprise multiple reads about 86.72; price target mean across analysts sits near $174.83 versus last close $156.36. Those multiples reflect growth and margin concerns but also embed expected recovery scenarios in forward estimates.
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 median: 80.811 mean: 80.411 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: 0.264 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: 0.557 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 median: 5.755 mean: 5.739 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: 122.17 median: 113.302 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: 29.67 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: 0.125 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: 1.91 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: 0.637 median: 0.509 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: 154.395 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: 2.769 median: 2.112 BDX: 0.942 low: 0.015 |
|
| Quick Ratio | 0.547 | |
| Quick Ratio QoQ | -6.073 % | |
| Quick Ratio YoY | -14.859 % | |
| Quick Ratio IPRWA | high: 12.588 mean: 2.056 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 mean: 18.412 median: 13.911 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: -7.78 % 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: -16.232 % low: -145.833 % |
|
| MARGINS | ||
| Gross Margin | 45.694 % | |
| Gross Margin QoQ | -0.462 % | |
| Gross Margin YoY | 6.734 % | |
| Gross Margin IPRWA | high: 95.029 % mean: 63.454 % median: 63.289 % BDX: 45.694 % low: -11.681 % |
|
| EBIT Margin | 3.988 % | |
| EBIT Margin QoQ | -61.639 % | |
| EBIT Margin YoY | -59.097 % | |
| EBIT Margin IPRWA | high: 63.148 % median: 21.811 % mean: 20.938 % 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: 20.603 % mean: 20.414 % 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: 0.474 % 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: -36.006 % 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: 2.159 % median: 1.583 % 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: 2.574 % median: 2.32 % BDX: 0.272 % low: -14.938 % |
|