Stock Analysis on Net

Becton, Dickinson & Co. (NYSE:BDX)

This company has been moved to the archive! The financial data has not been updated since May 5, 2022.

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Becton, Dickinson & Co., solvency ratios

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Debt Ratios
Debt to equity 0.74 0.75 0.92 1.02 1.46 1.51
Debt to equity (including operating lease liability) 0.76 0.77 0.92 1.02 1.46 1.51
Debt to capital 0.43 0.43 0.48 0.51 0.59 0.60
Debt to capital (including operating lease liability) 0.43 0.44 0.48 0.51 0.59 0.60
Debt to assets 0.33 0.33 0.37 0.40 0.50 0.45
Debt to assets (including operating lease liability) 0.34 0.34 0.37 0.40 0.50 0.45
Financial leverage 2.28 2.27 2.46 2.57 2.91 3.35
Coverage Ratios
Interest coverage 5.78 2.87 2.84 2.66 2.87 3.77
Fixed charge coverage 3.98 2.07 1.99 1.92 2.18 3.15

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Becton, Dickinson & Co. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Becton, Dickinson & Co. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Becton, Dickinson & Co. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Becton, Dickinson & Co. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Becton, Dickinson & Co. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Becton, Dickinson & Co. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Becton, Dickinson & Co. financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Becton, Dickinson & Co. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Becton, Dickinson & Co. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity

Becton, Dickinson & Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
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
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories 0.50 0.57 0.58
Cigna Group 0.71 0.65 0.83
CVS Health Corp. 0.75 0.93 1.07
Elevance Health Inc. 0.64 0.60 0.63
Humana Inc. 0.80 0.51 0.49
Intuitive Surgical Inc. 0.00 0.00 0.00
Medtronic PLC 0.51 0.49 0.51
UnitedHealth Group Inc. 0.64 0.66 0.71
Debt to Equity, Sector
Health Care Equipment & Services 0.63 0.65 0.72
Debt to Equity, Industry
Health Care 0.78 0.90 0.91

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 Click competitor name to see calculations.

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

Debt to Equity (including Operating Lease Liability)

Becton, Dickinson & Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
Total debt 17,610 17,931 19,390 21,495 18,870 11,551
Current operating lease liabilities (recorded in Accrued expenses) 126 106
Non-current operating lease liabilities (recorded in Deferred income taxes and other liabilities) 344 336
Total debt (including operating lease liability) 18,080 18,373 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 equity (including operating lease liability)1 0.76 0.77 0.92 1.02 1.46 1.51
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.54 0.61 0.61
Cigna Group 0.73 0.67 0.84
CVS Health Corp. 1.01 1.23 1.39
Elevance Health Inc. 0.67 0.63 0.65
Humana Inc. 0.84 0.54 0.53
Intuitive Surgical Inc. 0.01 0.01 0.01
Medtronic PLC 0.53 0.51 0.51
UnitedHealth Group Inc. 0.70 0.73 0.77
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.71 0.74 0.81
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.84 0.96 0.97

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 18,080 ÷ 23,677 = 0.76

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Becton, Dickinson & Co. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital

Becton, Dickinson & Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
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
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
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories 0.34 0.36 0.37
Cigna Group 0.42 0.40 0.45
CVS Health Corp. 0.43 0.48 0.52
Elevance Health Inc. 0.39 0.38 0.39
Humana Inc. 0.44 0.34 0.33
Intuitive Surgical Inc. 0.00 0.00 0.00
Medtronic PLC 0.34 0.33 0.34
UnitedHealth Group Inc. 0.39 0.40 0.41
Debt to Capital, Sector
Health Care Equipment & Services 0.39 0.39 0.42
Debt to Capital, Industry
Health Care 0.44 0.47 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
Debt to capital = Total debt ÷ Total capital
= 17,610 ÷ 41,287 = 0.43

2 Click competitor name to see calculations.

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

Debt to Capital (including Operating Lease Liability)

Becton, Dickinson & Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
Total debt 17,610 17,931 19,390 21,495 18,870 11,551
Current operating lease liabilities (recorded in Accrued expenses) 126 106
Non-current operating lease liabilities (recorded in Deferred income taxes and other liabilities) 344 336
Total debt (including operating lease liability) 18,080 18,373 19,390 21,495 18,870 11,551
Shareholders’ equity 23,677 23,765 21,081 20,994 12,948 7,633
Total capital (including operating lease liability) 41,757 42,138 40,471 42,489 31,818 19,184
Solvency Ratio
Debt to capital (including operating lease liability)1 0.43 0.44 0.48 0.51 0.59 0.60
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.35 0.38 0.38
Cigna Group 0.42 0.40 0.46
CVS Health Corp. 0.50 0.55 0.58
Elevance Health Inc. 0.40 0.39 0.40
Humana Inc. 0.46 0.35 0.34
Intuitive Surgical Inc. 0.01 0.01 0.01
Medtronic PLC 0.35 0.34 0.34
UnitedHealth Group Inc. 0.41 0.42 0.44
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.41 0.43 0.45
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.46 0.49 0.49

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 18,080 ÷ 41,757 = 0.43

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Becton, Dickinson & Co. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets

Becton, Dickinson & Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
Total debt 17,610 17,931 19,390 21,495 18,870 11,551
 
Total assets 53,866 54,012 51,765 53,904 37,734 25,586
Solvency Ratio
Debt to assets1 0.33 0.33 0.37 0.40 0.50 0.45
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories 0.24 0.26 0.27
Cigna Group 0.22 0.21 0.24
CVS Health Corp. 0.24 0.28 0.31
Elevance Health Inc. 0.24 0.23 0.26
Humana Inc. 0.29 0.20 0.20
Intuitive Surgical Inc. 0.00 0.00 0.00
Medtronic PLC 0.28 0.27 0.28
UnitedHealth Group Inc. 0.22 0.22 0.23
Debt to Assets, Sector
Health Care Equipment & Services 0.23 0.24 0.26
Debt to Assets, Industry
Health Care 0.28 0.30 0.31

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 assets = Total debt ÷ Total assets
= 17,610 ÷ 53,866 = 0.33

2 Click competitor name to see calculations.

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

Debt to Assets (including Operating Lease Liability)

Becton, Dickinson & Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Short-term debt 500 707 1,309 2,601 203 1,001
Long-term debt, excluding current portion 17,110 17,224 18,081 18,894 18,667 10,550
Total debt 17,610 17,931 19,390 21,495 18,870 11,551
Current operating lease liabilities (recorded in Accrued expenses) 126 106
Non-current operating lease liabilities (recorded in Deferred income taxes and other liabilities) 344 336
Total debt (including operating lease liability) 18,080 18,373 19,390 21,495 18,870 11,551
 
Total assets 53,866 54,012 51,765 53,904 37,734 25,586
Solvency Ratio
Debt to assets (including operating lease liability)1 0.34 0.34 0.37 0.40 0.50 0.45
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.26 0.27 0.28
Cigna Group 0.22 0.22 0.24
CVS Health Corp. 0.33 0.37 0.40
Elevance Health Inc. 0.25 0.24 0.27
Humana Inc. 0.31 0.21 0.22
Intuitive Surgical Inc. 0.01 0.01 0.01
Medtronic PLC 0.29 0.28 0.28
UnitedHealth Group Inc. 0.24 0.24 0.26
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.27 0.27 0.29
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.30 0.32 0.33

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 assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 18,080 ÷ 53,866 = 0.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Becton, Dickinson & Co. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Financial Leverage

Becton, Dickinson & Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
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
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories 2.10 2.21 2.18
Cigna Group 3.29 3.09 3.44
CVS Health Corp. 3.10 3.32 3.48
Elevance Health Inc. 2.70 2.61 2.44
Humana Inc. 2.76 2.55 2.42
Intuitive Surgical Inc. 1.14 1.15 1.18
Medtronic PLC 1.81 1.79 1.79
UnitedHealth Group Inc. 2.96 3.01 3.02
Financial Leverage, Sector
Health Care Equipment & Services 2.68 2.70 2.75
Financial Leverage, Industry
Health Care 2.77 2.95 2.93

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 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Becton, Dickinson & Co. financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Interest Coverage

Becton, Dickinson & Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Net income 2,092 874 1,233 311 1,100 976
Add: Income tax expense 150 111 (57) 862 (124) 98
Add: Interest expense 469 528 639 706 521 388
Earnings before interest and tax (EBIT) 2,711 1,513 1,815 1,879 1,497 1,462
Solvency Ratio
Interest coverage1 5.78 2.87 2.84 2.66 2.87 3.77
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories 16.41 10.10 7.09
Cigna Group 6.22 8.76 5.11
CVS Health Corp. 5.16 4.36 3.96
Elevance Health Inc. 10.93 8.96 9.02
Humana Inc. 11.49 17.52 15.34
Intuitive Surgical Inc.
Medtronic PLC 5.21 4.71 4.60
UnitedHealth Group Inc. 14.44 13.47 11.55
Interest Coverage, Sector
Health Care Equipment & Services 9.06 8.21 6.70
Interest Coverage, Industry
Health Care 12.85 7.67 8.84

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
Interest coverage = EBIT ÷ Interest expense
= 2,711 ÷ 469 = 5.78

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Becton, Dickinson & Co. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Fixed Charge Coverage

Becton, Dickinson & Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Federal statutory tax rate 21.00% 21.00% 21.00% 24.50% 35.00% 35.00%
Selected Financial Data (US$ in millions)
Net income 2,092 874 1,233 311 1,100 976
Add: Income tax expense 150 111 (57) 862 (124) 98
Add: Interest expense 469 528 639 706 521 388
Earnings before interest and tax (EBIT) 2,711 1,513 1,815 1,879 1,497 1,462
Add: Operating lease cost 132 131 169 149 110 112
Earnings before fixed charges and tax 2,843 1,644 1,984 2,028 1,607 1,574
 
Interest expense 469 528 639 706 521 388
Operating lease cost 132 131 169 149 110 112
Preferred stock dividends 90 107 151 152 70
Preferred stock dividends, tax adjustment1 24 28 40 49 38
Preferred stock dividends, after tax adjustment 114 135 191 201 108
Fixed charges 715 794 999 1,056 739 500
Solvency Ratio
Fixed charge coverage2 3.98 2.07 1.99 1.92 2.18 3.15
Benchmarks
Fixed Charge Coverage, Competitors3
Abbott Laboratories 10.21 6.68 5.14
Cigna Group 5.61 7.84 4.67
CVS Health Corp. 3.03 2.75 2.56
Elevance Health Inc. 8.48 6.10 7.34
Humana Inc. 8.05 12.02 9.76
Intuitive Surgical Inc. 93.66 58.48 79.65
Medtronic PLC 4.31 3.98 3.97
UnitedHealth Group Inc. 8.80 8.51 7.65
Fixed Charge Coverage, Sector
Health Care Equipment & Services 5.95 5.52 4.75
Fixed Charge Coverage, Industry
Health Care 9.09 5.67 6.58

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
Preferred stock dividends, tax adjustment = (Preferred stock dividends × Federal statutory tax rate) ÷ (1 − Federal statutory tax rate)
= (90 × 21.00%) ÷ (1 − 21.00%) = 24

2 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 2,843 ÷ 715 = 3.98

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Becton, Dickinson & Co. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.