Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Becton, Dickinson & Co., adjusted financial ratios

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Activity Ratio
Total Asset Turnover
Reported	0.38	0.32	0.33	0.30	0.32	0.49
Adjusted	0.38	0.32	0.33	0.29	0.32	0.48
Liquidity Ratio
Current Ratio
Reported	1.33	1.54	1.18	1.03	5.58	1.45
Adjusted	1.35	1.55	1.19	1.04	5.59	1.46
Solvency Ratios
Debt to Equity
Reported	0.74	0.75	0.92	1.02	1.46	1.51
Adjusted	0.72	0.72	0.86	0.94	1.38	1.38
Debt to Capital
Reported	0.43	0.43	0.48	0.51	0.59	0.60
Adjusted	0.42	0.42	0.46	0.48	0.58	0.58
Financial Leverage
Reported	2.28	2.27	2.46	2.57	2.91	3.35
Adjusted	2.15	2.13	2.27	2.32	2.75	3.03
Profitability Ratios
Net Profit Margin
Reported	10.33%	5.11%	7.13%	1.95%	9.10%	7.82%
Adjusted	11.08%	1.79%	1.29%	-0.69%	10.01%	2.26%
Return on Equity (ROE)
Reported	8.84%	3.68%	5.85%	1.48%	8.50%	12.79%
Adjusted	8.93%	1.21%	0.97%	-0.47%	8.75%	3.30%
Return on Assets (ROA)
Reported	3.88%	1.62%	2.38%	0.58%	2.92%	3.81%
Adjusted	4.16%	0.57%	0.43%	-0.20%	3.18%	1.09%

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Becton, Dickinson & Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Becton, Dickinson & Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Becton, Dickinson & Co. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Becton, Dickinson & Co. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Becton, Dickinson & Co. adjusted financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Becton, Dickinson & Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Becton, Dickinson & Co. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Becton, Dickinson & Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Becton, Dickinson & Co., Financial Ratios: Reported vs. Adjusted

Download chart

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Revenues	20,248)	17,117)	17,290)	15,983)	12,093)	12,483)
Total assets	53,866)	54,012)	51,765)	53,904)	37,734)	25,586)
Activity Ratio
Total asset turnover¹	0.38	0.32	0.33	0.30	0.32	0.49
Adjusted
Selected Financial Data (US$ in millions)
Revenues	20,248)	17,117)	17,290)	15,983)	12,093)	12,483)
Adjusted total assets²	53,942)	54,092)	52,330)	54,435)	38,038)	25,897)
Activity Ratio
Adjusted total asset turnover³	0.38	0.32	0.33	0.29	0.32	0.48

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 20,248 ÷ 53,866 = 0.38

² Adjusted total assets. See details »

³ 2021 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 20,248 ÷ 53,942 = 0.38

Download chart

Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Becton, Dickinson & Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Current assets	8,838)	8,969)	6,664)	7,411)	18,633)	6,367)
Current liabilities	6,626)	5,836)	5,655)	7,216)	3,342)	4,400)
Liquidity Ratio
Current ratio¹	1.33	1.54	1.18	1.03	5.58	1.45
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	8,914)	9,049)	6,739)	7,486)	18,687)	6,428)
Current liabilities	6,626)	5,836)	5,655)	7,216)	3,342)	4,400)
Liquidity Ratio
Adjusted current ratio³	1.35	1.55	1.19	1.04	5.59	1.46

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 8,838 ÷ 6,626 = 1.33

² Adjusted current assets. See details »

³ 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 8,914 ÷ 6,626 = 1.35

Download chart

Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Becton, Dickinson & Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Total debt	17,610)	17,931)	19,390)	21,495)	18,870)	11,551)
Shareholders’ equity	23,677)	23,765)	21,081)	20,994)	12,948)	7,633)
Solvency Ratio
Debt to equity¹	0.74	0.75	0.92	1.02	1.46	1.51
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	18,080)	18,373)	19,880)	21,951)	19,120)	11,801)
Adjusted shareholders’ equity³	25,122)	25,411)	23,047)	23,439)	13,833)	8,555)
Solvency Ratio
Adjusted debt to equity⁴	0.72	0.72	0.86	0.94	1.38	1.38

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 17,610 ÷ 23,677 = 0.74

² Adjusted total debt. See details »

³ Adjusted shareholders’ equity. See details »

⁴ 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted shareholders’ equity
= 18,080 ÷ 25,122 = 0.72

Download chart

Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Becton, Dickinson & Co. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Total debt	17,610)	17,931)	19,390)	21,495)	18,870)	11,551)
Total capital	41,287)	41,696)	40,471)	42,489)	31,818)	19,184)
Solvency Ratio
Debt to capital¹	0.43	0.43	0.48	0.51	0.59	0.60
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	18,080)	18,373)	19,880)	21,951)	19,120)	11,801)
Adjusted total capital³	43,202)	43,784)	42,927)	45,390)	32,953)	20,356)
Solvency Ratio
Adjusted debt to capital⁴	0.42	0.42	0.46	0.48	0.58	0.58

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 17,610 ÷ 41,287 = 0.43

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 18,080 ÷ 43,202 = 0.42

Download chart

Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Becton, Dickinson & Co. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Total assets	53,866)	54,012)	51,765)	53,904)	37,734)	25,586)
Shareholders’ equity	23,677)	23,765)	21,081)	20,994)	12,948)	7,633)
Solvency Ratio
Financial leverage¹	2.28	2.27	2.46	2.57	2.91	3.35
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	53,942)	54,092)	52,330)	54,435)	38,038)	25,897)
Adjusted shareholders’ equity³	25,122)	25,411)	23,047)	23,439)	13,833)	8,555)
Solvency Ratio
Adjusted financial leverage⁴	2.15	2.13	2.27	2.32	2.75	3.03

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 53,866 ÷ 23,677 = 2.28

² Adjusted total assets. See details »

³ Adjusted shareholders’ equity. See details »

⁴ 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity
= 53,942 ÷ 25,122 = 2.15

Download chart

Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Becton, Dickinson & Co. adjusted financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Net income	2,092)	874)	1,233)	311)	1,100)	976)
Revenues	20,248)	17,117)	17,290)	15,983)	12,093)	12,483)
Profitability Ratio
Net profit margin¹	10.33%	5.11%	7.13%	1.95%	9.10%	7.82%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	2,243)	307)	223)	(111)	1,211)	282)
Revenues	20,248)	17,117)	17,290)	15,983)	12,093)	12,483)
Profitability Ratio
Adjusted net profit margin³	11.08%	1.79%	1.29%	-0.69%	10.01%	2.26%

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
Net profit margin = 100 × Net income ÷ Revenues
= 100 × 2,092 ÷ 20,248 = 10.33%

² Adjusted net income. See details »

³ 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Revenues
= 100 × 2,243 ÷ 20,248 = 11.08%

Download chart

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Becton, Dickinson & Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Net income	2,092)	874)	1,233)	311)	1,100)	976)
Shareholders’ equity	23,677)	23,765)	21,081)	20,994)	12,948)	7,633)
Profitability Ratio
ROE¹	8.84%	3.68%	5.85%	1.48%	8.50%	12.79%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	2,243)	307)	223)	(111)	1,211)	282)
Adjusted shareholders’ equity³	25,122)	25,411)	23,047)	23,439)	13,833)	8,555)
Profitability Ratio
Adjusted ROE⁴	8.93%	1.21%	0.97%	-0.47%	8.75%	3.30%

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
ROE = 100 × Net income ÷ Shareholders’ equity
= 100 × 2,092 ÷ 23,677 = 8.84%

² Adjusted net income. See details »

³ Adjusted shareholders’ equity. See details »

⁴ 2021 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted shareholders’ equity
= 100 × 2,243 ÷ 25,122 = 8.93%

Download chart

Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Becton, Dickinson & Co. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021.

	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016
Reported
Selected Financial Data (US$ in millions)
Net income	2,092)	874)	1,233)	311)	1,100)	976)
Total assets	53,866)	54,012)	51,765)	53,904)	37,734)	25,586)
Profitability Ratio
ROA¹	3.88%	1.62%	2.38%	0.58%	2.92%	3.81%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	2,243)	307)	223)	(111)	1,211)	282)
Adjusted total assets³	53,942)	54,092)	52,330)	54,435)	38,038)	25,897)
Profitability Ratio
Adjusted ROA⁴	4.16%	0.57%	0.43%	-0.20%	3.18%	1.09%

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

¹ 2021 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 2,092 ÷ 53,866 = 3.88%

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2021 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 2,243 ÷ 53,942 = 4.16%

Download chart

Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Becton, Dickinson & Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Becton, Dickinson & Co. (NYSE:BDX)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Becton, Dickinson & Co., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)