Stock Analysis on Net
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.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Becton, Dickinson & Co., FCFE calculation

US$ in millions

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12 months ended: Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Net income 2,092 874 1,233 311 1,100 976
Net noncash charges 2,253 2,552 2,468 1,657 1,821 1,184
Change in operating assets and liabilities 302 113 (371) 897 (371) 399
Net cash provided by operating activities 4,647 3,539 3,330 2,865 2,550 2,559
Capital expenditures (1,231) (810) (957) (895) (727) (693)
Change in credit facility borrowings — (485) 485 — (200) (500)
Proceeds from long-term debt and term loans 4,869 3,389 2,224 5,086 11,462 —
Payments of debt and term loans (5,112) (4,664) (4,744) (3,996) (3,980) (752)
Free cash flow to equity (FCFE) 3,173 969 338 3,060 9,105 614

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Becton, Dickinson & Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Becton, Dickinson & Co. FCFE increased from 2019 to 2020 and from 2020 to 2021.

Price to FCFE Ratio, Current

Becton, Dickinson & Co., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 285,064,629
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 3,173
FCFE per share 11.13
Current share price (P) 259.64
Valuation Ratio
P/FCFE 23.33
Benchmarks
P/FCFE, Competitors1
Abbott Laboratories 78.40
Cigna Group 8.80
CVS Health Corp. 4.23
Elevance Health Inc. 13.46
Humana Inc. 9.50
Intuitive Surgical Inc. 244.97
Medtronic PLC 18.42
UnitedHealth Group Inc. 18.33
P/FCFE, Sector
Health Care Equipment & Services 20.92
P/FCFE, Industry
Health Care 19.55

Based on: 10-K (reporting date: 2021-09-30).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Becton, Dickinson & Co., historical P/FCFE calculation, comparison to benchmarks

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Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
No. shares of common stock outstanding1 284,023,582 290,031,363 270,459,892 268,257,940 227,978,328 212,319,588
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 3,173 969 338 3,060 9,105 614
FCFE per share3 11.17 3.34 1.25 11.41 39.94 2.89
Share price1, 4 244.46 227.47 260.40 242.04 224.23 168.48
Valuation Ratio
P/FCFE5 21.88 68.08 208.37 21.22 5.61 58.26
Benchmarks
P/FCFE, Competitors6
Abbott Laboratories 24.52 38.42 53.19 — — —
Cigna Group 10.98 16.30 20.76 — — —
CVS Health Corp. 21.23 11.93 18.52 — — —
Elevance Health Inc. 11.07 7.75 13.72 — — —
Humana Inc. 11.49 8.47 11.73 — — —
Intuitive Surgical Inc. 58.39 81.15 57.31 — — —
Medtronic PLC 38.91 23.06 26.62 — — —
UnitedHealth Group Inc. 20.11 13.93 13.90 — — —
P/FCFE, Sector
Health Care Equipment & Services 20.14 16.68 19.46 — — —
P/FCFE, Industry
Health Care 16.76 17.08 13.39 — — —

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 Data adjusted for splits and stock dividends.

2 See details »

3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,173,000,000 ÷ 284,023,582 = 11.17

4 Closing price as at the filing date of Becton, Dickinson & Co. Annual Report.

5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= 244.46 ÷ 11.17 = 21.88

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Becton, Dickinson & Co. P/FCFE ratio decreased from 2019 to 2020 and from 2020 to 2021.