Recent News
Aug 6, 2026 — BD reported third-quarter fiscal 2026 results and updated guidance; the company held an investor webcast and accompanying slides. Jul 29, 2026 — BD announced a collaboration with EMS to launch semaglutide in Brazil using BD’s Vystra™ Injection Pen platform. Jul 28, 2026 — BD’s board declared a dividend. Jul 22, 2026 — BD announced the retirement of executive Mike Garrison.
Technical Analysis
Trend strength: ADX at 33.98 indicates a strong trend presence; that strength increases the likelihood that short-term directional signals will carry weight for price action relative to the current valuation bias.
Directional indicators (DI+/DI-): DI+ at 26.93 is decreasing, which signals bearish directional pressure; DI- at 15.90 shows a peak-and-reversal (DI- decreasing), which the data qualifies as bullish. Those opposing signals create a mixed directional picture that supports consolidation rather than a decisive breakout, weighing on near-term upside despite the undervalued valuation.
MACD: MACD equals 1.88 versus a signal line at 3.13 and MACD trend decreasing; the MACD sits below its signal line and declines, a bearish momentum profile that counters valuation-driven upside in the immediate horizon.
MRO (Momentum/Regression Oscillator): MRO at 27.99 (positive) implies the current price sits above the model target and faces downward pressure; the MRO trend decreasing reduces the immediacy of that pressure but still suggests the price may correct toward fair-value levels before resuming directional moves.
RSI and price structure: RSI at 59.3 and falling signals fading bullish momentum without reaching overbought levels. Price at $180.94 sits below short-term ichimoku lines (Tenkan $182.92, Kijun $183.57) and slightly below the 20-day average ($182.48) while remaining well above the 200-day average ($159.16), implying medium-term support but short-term resistance to higher prices.
Volume & volatility: Today’s volume (6,416,945) exceeds 10/50/200-day averages, showing elevated participation on the recent moves; volatility metrics remain low (42-day and 52-week volatility ~0.02), which favors orderly consolidation rather than abrupt swings.
Fundamental Analysis
Profitability and margins: EBIT margin equals 13.767% versus an industry peer mean of 23.799% and industry peer median of 25.876%, so operating profitability sits below the industry peer mean and median. Quarter-over-quarter EBIT margin rose by 2.45211 percentage points, while year-over-year EBIT margin fell by 11.295 percentage points, indicating mid-cycle improvement but still below longer-term peer norms.
Revenue and earnings growth: YoY revenue growth equals 26.941% and trailing revenue growth equals 5.706%, signaling solid top-line expansion; QoQ revenue growth shows a small decline of -1.55701% sequentially. Reported EPS of $3.23 exceeded the $3.14 estimate, producing an EPS surprise of 2.866%, which supports the near-term earnings narrative despite mixed margin dynamics.
Cash flow and liquidity: Operating cash flow reached $651,000,000 with free cash flow of $508,000,000 and a free cash flow yield of 1.202%, which sits above the industry peer mean free cash flow yield of 0.545%. Cash conversion cycle stands at 160.8 days; current ratio reads 0.865 (below the industry peer mean of 3.0735), and quick ratio 0.513, indicating lean short-term liquidity that the company manages with higher leverage and operating cash generation.
Capital structure: Debt-to-EBITDA equals 13.46, and net debt totals $16.1B; interest coverage approximates 5.20x, which provides serviceability but signals elevated leverage relative to typical investment-grade med-tech comparatives. Debt-to-equity at 0.688 indicates moderate leverage on the balance sheet.
Valuation context: Price-to-earnings stands at 48.03x with forward P/E of 45.10x; enterprise multiple equals 46.72. WMDST values the stock as under-valued. The valuation gap versus the $202.87 price-target mean suggests room for re-rating if margins and cash conversion metrics improve toward peer norms, but current technical momentum suggests any rerating may occur after a period of consolidation.
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 | 18.5 % | |
| 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 | $ 3.32 | |
| 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: 107.649 median: 55.811 mean: 54.697 BDX: 46.72 low: -211.625 |
|
| 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: 0.002 |
|
| 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: 0.636 median: 0.623 low: -1.7 |
|
| 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: 16.204 mean: 5.553 median: 5.142 BDX: 1.731 low: -7.76 |
|
| 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: 97.419 median: 76.235 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: 26.482 median: 18.719 BDX: 8.48 low: 1.369 |
|
| 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: 0.453 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: 1.761 low: 0.669 |
|
| 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: 0.548 median: 0.469 low: 0.087 |
|
| 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: 619.297 median: 207.768 mean: 190.635 BDX: 160.762 low: -220.986 |
|
| 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: 3.074 median: 2.157 BDX: 0.865 low: 0.035 |
|
| Quick Ratio | 0.513 | |
| Quick Ratio QoQ | -6.274 % | |
| Quick Ratio YoY | -17.096 % | |
| Quick Ratio IPRWA | high: 14.376 mean: 2.285 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: 17.472 median: 12.092 BDX: 5.197 low: -52.87 |
|
| 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: 5.999 % 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: 133.333 % mean: 19.165 % BDX: 11.379 % median: 8.824 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 46.458 % | |
| Gross Margin QoQ | 1.672 % | |
| Gross Margin YoY | -2.834 % | |
| Gross Margin IPRWA | high: 96.952 % median: 68.265 % mean: 66.1 % BDX: 46.458 % low: 2.65 % |
|
| EBIT Margin | 13.767 % | |
| EBIT Margin QoQ | 245.211 % | |
| EBIT Margin YoY | -11.295 % | |
| EBIT Margin IPRWA | high: 39.598 % median: 25.876 % mean: 23.799 % BDX: 13.767 % low: -435.725 % |
|
| 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: 23.815 % BDX: 15.091 % low: -432.683 % |
|
| 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: 0.545 % low: -10.859 % |
|
| Free Cash Growth | 6.947 % | |
| Free Cash Growth QoQ | -152.151 % | |
| Free Cash Growth YoY | -99.759 % | |
| Free Cash Growth IPRWA | high: 350.464 % median: 17.289 % BDX: 6.947 % mean: -17.305 % low: -513.067 % |
|
| 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: 5.41 % median: 2.709 % mean: 2.519 % 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: -0.69 |
|
| 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: 3.403 % BDX: 1.358 % low: -16.274 % |
|