Recent News
On May 29, 2026 the company placed ChloraPrep™ and PurPrep™ on U.S. ship hold pending additional final release testing. On June 6, 2026 the company issued a voluntary recall for specific lots of antiseptic products; the company described the action as a targeted manufacturing/quality follow-up. The company named Peter Menziuso as Executive Vice President and President, BD Interventional, effective June 1, 2026, and on July 9, 2026 the company received recognition among top-performing U.S.-based firms.
Technical Analysis
Directional strength (ADX/DI+/DI-): ADX at 34.79 indicates a strong underlying trend; DI+ at 41.46 shows a dip-and-reversal, which signals bullish directional momentum, while DI- at 14.38 trending down further supports that bullish tilt.
MACD and signal line: MACD at 6.71 sits above the MACD signal at 5.00 and the MACD trend registers as increasing, which represents bullish momentum and confirms recent upward price pressure.
MRO (momentum/regression oscillator): MRO at 37.59 with a peak-and-reversal trend indicates price sitting above model target levels and suggests an elevated potential for a corrective move back toward fair-value levels over the short term.
RSI and momentum breadth: RSI at 63.15 and rising reflects sustained buying momentum without an overbought reading; that momentum supports continuation while leaving room before overbought territory at 70.
Moving averages, bands, and support: Price closed at $183.58, above the 12-day EMA ($173.40), 20-day average ($170.76), 50-day average ($156.20) and 200-day average ($154.76), which establishes a bullish price structure. Price sits near the Bollinger upper band (1x) at $179.87 and below the 2x upper band at $188.99, suggesting strength with limited immediate upside cushion. Ichimoku Tenkan and Kijun levels (Tenkan $168.53, Kijun $165.99) lie below price, providing technical support alongside a super-trend lower support at $170.04.
Volume and volatility context: Daily volume at 1.54M trails the 10-, 50-, and 200-day averages, implying lower participation on the most recent moves; 42- and 52-week volatilities at 2% indicate a low realized volatility backdrop versus many peers.
Fundamental Analysis
Profitability and margins: EBIT reached $686,000,000, yielding an EBIT margin of 13.77%. That EBIT margin sits below the industry peer mean of 24.26% and below the industry peer median of 25.88%, which reflects lower operating profitability relative to peer benchmarks. Gross margin registered at 46.46%, slightly below the industry peer mean of 66.11% and the industry peer median of 68.27%.
Revenue and earnings trends: Total revenue reached $4,983,000,000 with year-over-year revenue growth at 26.94% and a reported revenue growth rate of 5.71%. Quarter-over-quarter revenue growth shows a contraction (-155.70%), while YoY revenue growth and operating trends provide the primary top-line lift. Reported EPS came in at $3.23 versus an estimate of $3.14, producing a $0.09 positive surprise and an EPS surprise ratio of 2.87%.
Cash flow and liquidity: Operating cash flow of $651,000,000 and free cash flow of $508,000,000 translate into a free-cash-flow yield of 1.20%. Cash conversion cycle at 160.76 days falls shorter than the industry peer mean of 190.61 days by roughly 29.85 days, reflecting relatively tighter working-capital turnover versus peers. Current ratio at 0.87 and quick ratio at 0.51 sit below the industry peer mean and median, indicating a leaner near-term liquidity position.
Leverage and coverage: Total debt reached $16,808,000,000 with net debt roughly $16,100,000,000 and debt-to-equity at 0.69, slightly above the industry peer mean of 0.64. Debt-to-EBITDA sits at 13.46x while interest coverage registers at 5.20x, which presents adequate coverage but elevated leverage relative to coverage multiples typical for the group.
Capital efficiency and returns: Return on equity at 1.54% and return on assets at 0.74% represent depressed headline returns; invested-capital returns and operating leverage show modest positive operating leverage but lower conversion into shareholder returns. Asset turnover at 0.098 remains below the industry peer mean of 0.1416.
Valuation summary: P/E at 48.03x, forward P/E near 45.10x and price-to-sales at 8.48x reflect stretched multiples versus historical comfort bands, yet WMDST values the stock as under-valued based on the firm’s intrinsic framework and the company’s cash-flow conversion profile.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 1.0 B |
| Operating Cash Flow | $ 651.0 M | |
| Capital Expenditures | $ -143.00 M | |
| Change In Working Capital | $ -125.00 M | |
| Dividends Paid | $ -286.00 M | |
| Cash Flow Delta | $ -152.00 M | |
| End Period Cash Flow | $ 863.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 5.0 B | |
| Forward Revenue | $ 3.0 B | |
| COSTS | ||
| Cost Of Revenue | $ 2.7 B | |
| Depreciation | $ 563.0 M | |
| Depreciation and Amortization | $ 563.0 M | |
| Research and Development | $ 258.0 M | |
| Total Operating Expenses | $ 4.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.3 B | |
| EBITDA | $ 1.2 B | |
| EBIT | $ 686.0 M | |
| Operating Income | $ 752.0 M | |
| Interest Income | $ 4.0 M | |
| Interest Expense | $ 132.0 M | |
| Net Interest Income | $ -128.00 M | |
| Income Before Tax | $ 554.0 M | |
| Tax Provision | $ 102.0 M | |
| Tax Rate | 18.412 % | |
| Net Income | $ 377.0 M | |
| Net Income From Continuing Operations | $ 451.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 3.14 | |
| EPS Actual | $ 3.23 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 2.866 % | |
| Forward EPS | $ 3.33 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 50.7 B | |
| Intangible Assets | $ 34.0 B | |
| Net Tangible Assets | $ -9.55 B | |
| Total Current Assets | $ 8.1 B | |
| Cash and Short-Term Investments | $ 709.0 M | |
| Cash | $ 708.0 M | |
| Net Receivables | $ 2.4 B | |
| Inventory | $ 3.3 B | |
| Long-Term Investments | $ 2.5 B | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 3.3 B | |
| Total Current Liabilities | $ 9.4 B | |
| Net Debt | $ 16.1 B | |
| Total Debt | $ 16.8 B | |
| Total Liabilities | $ 26.3 B | |
| EQUITY | ||
| Total Equity | $ 24.4 B | |
| Retained Earnings | $ 17.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 89.64 | |
| Shares Outstanding | 272.387 M | |
| Revenue Per-Share | $ 18.29 | |
| VALUATION | Market Capitalization | $ 42.3 B |
| Enterprise Value | $ 58.4 B | |
| Enterprise Multiple | 46.72 | |
| Enterprise Multiple QoQ | -46.128 % | |
| Enterprise Multiple YoY | -4.543 % | |
| Enterprise Multiple IPRWA | high: 278.103 median: 55.811 mean: 54.022 BDX: 46.72 low: -259.758 |
|
| EV/R | 11.711 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.078 | |
| Asset To Liability | 1.928 | |
| Debt To Capital | 0.408 | |
| Debt To Assets | 0.331 | |
| Debt To Assets QoQ | -2.53 % | |
| Debt To Assets YoY | -5.95 % | |
| Debt To Assets IPRWA | high: 0.737 BDX: 0.331 median: 0.294 mean: 0.281 low: 0.006 |
|
| Debt To Equity | 0.688 | |
| Debt To Equity QoQ | -3.857 % | |
| Debt To Equity YoY | -9.334 % | |
| Debt To Equity IPRWA | high: 4.153 BDX: 0.688 mean: 0.637 median: 0.623 low: 0.007 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.731 | |
| Price To Book QoQ | -7.065 % | |
| Price To Book YoY | -17.615 % | |
| Price To Book IPRWA | high: 20.783 mean: 5.74 median: 5.142 BDX: 1.731 low: 0.846 |
|
| Price To Earnings (P/E) | 48.027 | |
| Price To Earnings QoQ | -14.601 % | |
| Price To Earnings YoY | -2.195 % | |
| Price To Earnings IPRWA | high: 352.627 mean: 97.55 median: 87.141 BDX: 48.027 low: -276.694 |
|
| PE/G Ratio | 4.221 | |
| Price To Sales (P/S) | 8.48 | |
| Price To Sales QoQ | -11.048 % | |
| Price To Sales YoY | -12.699 % | |
| Price To Sales IPRWA | high: 58.856 mean: 26.514 median: 18.719 BDX: 8.48 low: 1.832 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 45.104 | |
| Forward PE/G | 3.964 | |
| Forward P/S | 14.091 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 46.42 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.098 | |
| Asset Turnover Ratio QoQ | 9.987 % | |
| Asset Turnover Ratio YoY | -2.591 % | |
| Asset Turnover Ratio IPRWA | high: 0.333 mean: 0.142 median: 0.141 BDX: 0.098 low: 0.004 |
|
| Receivables Turnover | 2.181 | |
| Receivables Turnover Ratio QoQ | 9.038 % | |
| Receivables Turnover Ratio YoY | 18.227 % | |
| Receivables Turnover Ratio IPRWA | high: 3.111 BDX: 2.181 median: 1.802 mean: 1.762 low: 0.926 |
|
| Inventory Turnover | 0.8 | |
| Inventory Turnover Ratio QoQ | 16.228 % | |
| Inventory Turnover Ratio YoY | 6.693 % | |
| Inventory Turnover Ratio IPRWA | high: 1.932 BDX: 0.8 mean: 0.547 median: 0.469 low: 0.156 |
|
| Days Sales Outstanding (DSO) | 41.834 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 160.762 | |
| Cash Conversion Cycle Days QoQ | -2.645 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 502.252 median: 207.768 mean: 190.615 BDX: 160.762 low: -156.01 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.939 | |
| CapEx To Revenue | -0.029 | |
| CapEx To Depreciation | -0.254 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 37.9 B | |
| Net Invested Capital | $ 41.2 B | |
| Invested Capital | $ 41.2 B | |
| Net Tangible Assets | $ -9.55 B | |
| Net Working Capital | $ -1.26 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.075 | |
| Current Ratio | 0.865 | |
| Current Ratio QoQ | -8.105 % | |
| Current Ratio YoY | -21.503 % | |
| Current Ratio IPRWA | high: 16.312 mean: 3.069 median: 2.157 low: 1.24 BDX: 0.865 |
|
| Quick Ratio | 0.513 | |
| Quick Ratio QoQ | -6.274 % | |
| Quick Ratio YoY | -17.096 % | |
| Quick Ratio IPRWA | high: 14.376 mean: 2.282 median: 1.331 low: 0.693 BDX: 0.513 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.457 | |
| Cost Of Debt | 0.632 % | |
| Interest Coverage Ratio | 5.197 | |
| Interest Coverage Ratio QoQ | 311.889 % | |
| Interest Coverage Ratio YoY | -7.609 % | |
| Interest Coverage Ratio IPRWA | high: 33.864 mean: 17.827 median: 12.092 BDX: 5.197 low: -44.78 |
|
| Operating Cash Flow Ratio | 0.087 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.318 | |
| Dividend Payout Ratio | 0.759 | |
| Dividend Rate | $ 1.05 | |
| Dividend Yield | 0.007 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.199 % | |
| Revenue Growth | 5.706 % | |
| Revenue Growth QoQ | -155.701 % | |
| Revenue Growth YoY | 26.941 % | |
| Revenue Growth IPRWA | high: 23.67 % mean: 6.022 % BDX: 5.706 % median: 4.594 % low: -10.29 % |
|
| Earnings Growth | 11.379 % | |
| Earnings Growth QoQ | -3407.849 % | |
| Earnings Growth YoY | 15.511 % | |
| Earnings Growth IPRWA | high: 92.593 % mean: 19.246 % median: 12.0 % BDX: 11.379 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 46.458 % | |
| Gross Margin QoQ | 1.672 % | |
| Gross Margin YoY | -2.834 % | |
| Gross Margin IPRWA | high: 91.389 % median: 68.265 % mean: 66.114 % BDX: 46.458 % low: 24.335 % |
|
| EBIT Margin | 13.767 % | |
| EBIT Margin QoQ | 245.211 % | |
| EBIT Margin YoY | -11.295 % | |
| EBIT Margin IPRWA | high: 33.603 % median: 25.876 % mean: 24.257 % BDX: 13.767 % low: -91.563 % |
|
| Return On Sales (ROS) | 15.091 % | |
| Return On Sales QoQ | 13.637 % | |
| Return On Sales YoY | -15.081 % | |
| Return On Sales IPRWA | high: 33.603 % median: 25.194 % mean: 24.351 % BDX: 15.091 % low: -94.154 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 508.0 M | |
| Free Cash Flow Yield | 1.202 % | |
| Free Cash Flow Yield QoQ | 13.718 % | |
| Free Cash Flow Yield YoY | -38.454 % | |
| Free Cash Flow Yield IPRWA | high: 3.41 % BDX: 1.202 % median: 0.626 % mean: 0.55 % low: -10.142 % |
|
| Free Cash Growth | 6.947 % | |
| Free Cash Growth QoQ | -152.151 % | |
| Free Cash Growth YoY | -99.759 % | |
| Free Cash Growth IPRWA | high: 462.658 % median: 17.289 % BDX: 6.947 % mean: -19.897 % low: -558.333 % |
|
| Free Cash To Net Income | 1.347 | |
| Cash Flow Margin | 16.496 % | |
| Cash Flow To Earnings | 2.18 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.742 % | |
| Return On Assets QoQ | -225.976 % | |
| Return On Assets YoY | -29.333 % | |
| Return On Assets IPRWA | high: 4.55 % median: 2.709 % mean: 2.535 % BDX: 0.742 % low: -26.247 % |
|
| Return On Capital Employed (ROCE) | 1.66 % | |
| Return On Equity (ROE) | 0.015 | |
| Return On Equity QoQ | -219.783 % | |
| Return On Equity YoY | -31.469 % | |
| Return On Equity IPRWA | high: 0.095 median: 0.045 mean: 0.042 BDX: 0.015 low: -0.704 |
|
| DuPont ROE | 1.553 % | |
| Return On Invested Capital (ROIC) | 1.358 % | |
| Return On Invested Capital QoQ | 399.265 % | |
| Return On Invested Capital YoY | -12.837 % | |
| Return On Invested Capital IPRWA | high: 6.507 % median: 3.573 % mean: 3.43 % BDX: 1.358 % low: -11.638 % |
|