Recent News
On May 18 the company named Peter Menziuso EVP and President, BD Interventional, effective June 1. On May 29 SEC filings noted BD placed ChloraPrep™ and PurPrep™ on U.S. ship hold pending additional final-release testing. Late June coverage highlighted the company’s recall items and a separate new contract win. A July filing and subsequent coverage reported an institutional manager increased its position in BDX.
Technical Analysis
ADX at 24.89 registers an emerging trend strength that supports the introduction of directional momentum into the price-action and underpins the recent upside noted in short-term indicators.
DI+ stands at 37.91 with a peak-and-reversal pattern; that peak-and-reversal represents a bearish directional signal originating from the positive directional index. Conversely, DI- sits at 18.82 and shows a decreasing trajectory, a bullish directional sign when interpreted alone; the coexistence of a DI+ peak-and-reversal and a falling DI- suggests the positive directional pressure recently peaked but downside pressure has eased, producing a contested but still-positive bias.
MACD reads 4.44 with the MACD line above the signal at 3.23 and the MACD trend increasing; the cross above the signal line confirms bullish momentum and aligns with short-term upward pressure on price.
MRO at 37.08 (increasing) places the current price above WMDST’s target, signaling elevated mean-reversion risk even as momentum runs higher; this implies a stronger-than-average probability of a corrective pullback toward intrinsic targets if buying momentum slows.
RSI at 59.24 and rising indicates improving buying pressure without reaching overbought extremes, supporting continued near-term strength while leaving room for additional gains.
Price sits at $170.66 above the 20-day average ($161.76), 50-day average ($152.85) and 200-day average ($153.91), with the 12-day EMA rising; the alignment of price above moving averages confirms an upward bias that technical momentum currently supports.
Price slightly exceeds the 1x Bollinger upper band ($169.56) and sits well inside the 52-week range ($125.21–$184.86), indicating a short-term extension from the mean but not an extreme relative to the 52‑week high.
Fundamental Analysis
Revenue totaled $4,714,000,000 with sequential revenue down 5.56% QoQ and down 10.24% YoY, reflecting contraction in top-line activity that pressures near-term margin recovery. Net income registered a loss of $311,000,000; operating income reached $626,000,000 and EBIT equaled $188,000,000, producing an EBIT margin of 3.99% (down 61.64% QoQ and down 59.10% YoY). The EBIT margin sits well below the industry peer mean of 20.85%, indicating a material gap versus typical industry operating profitability.
EPS came in at $2.90 versus an estimate of $2.77, an EPS surprise of 4.69%, while reported free cash flow reached $475,000,000 and free cash flow yield equals 1.06%, above the industry peer mean free cash flow yield of 0.46%. Operating cash flow totaled $600,000,000 and operating margin measured 13.28%, up on a YoY basis, supporting cash-generation despite the GAAP net loss.
Leverage remains elevated: total debt at $17,279,000,000 produces a debt-to-EBITDA of 24.41x and net debt of $16,466,000,000. Debt-to-assets equals 33.99% (above the industry peer mean of 26.54%), and interest coverage stands at 1.26x versus an industry peer mean of 15.73x, highlighting material interest-service pressure relative to peers.
Valuation multiples show a trailing P/E of 56.24 and a forward P/E near 52.65; price-to-book equals 1.86 versus the industry peer mean of 5.71, while enterprise multiple measures 86.72x versus an industry peer mean near 80.24x. WMDST values the stock as under-valued; that valuation reflects the combination of near-term diluted earnings, intact cash generation, and discounted price-to-book relative to peer valuations.
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 | $ -3.51 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 | $ 3.36 | |
| 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: 80.24 low: -253.663 |
|
| 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: 0.265 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: 0.561 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: 5.709 median: 4.321 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: 121.863 median: 98.047 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: 55.037 median: 21.968 mean: 19.599 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: 1.913 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: 154.405 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: 2.765 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: 2.05 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: 29.801 mean: 15.734 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: -7.756 % BDX: -10.244 % low: -65.483 % |
|
| Earnings Growth | -0.344 % | |
| Earnings Growth QoQ | -98.703 % | |
| Earnings Growth YoY | -85.249 % | |
| Earnings Growth IPRWA | high: 66.667 % BDX: -0.344 % median: -7.623 % mean: -16.824 % 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: 63.289 % 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: 20.85 % BDX: 3.988 % low: -218.806 % |
|
| 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: 20.298 % 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 % median: 0.47 % mean: 0.464 % 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: -36.213 % 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: 2.146 % median: 1.583 % BDX: -0.589 % low: -28.498 % |
|
| 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: -0.677 |
|
| 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: 2.557 % median: 2.32 % BDX: 0.272 % low: -14.938 % |
|