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Screener / SEC EDGAR /CIK 0000010795 /10-K filed Nov 25, 2025, compared with Nov 27, 2024 /Numbers from the XBRL of the 10-Ks
Health care peers:
BDXGEHCIQVUHSDHRBSX
NYSE Health care · Medical Instruments

Becton Dickinson BDX

BDX quote by TradingView

Becton, Dickinson and Company (also referred to herein as "BD") was incorporated under the laws of the State of New Jersey in November 1906, as successor to a New York business started in 1897. 10-K, Item 1

Headquarters
Franklin Lakes, NJ
CEO
Thomas E. Polen Jr
Next results
around Feb 8, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $21.8B through the costs to a net profit of $1.7B · income statement of the 10-K

12% operating margin
Revenue to Gross profit: $9.9BRevenue to Cost of revenue: $11.9BGross profit to Operating profit: $2.6BGross profit to Operating expenses: $7.3BOperating profit to Net profit: $1.7BOperating profit to Tax & other: $901.0MOperating expenses to R&D: $1.3BOperating expenses to Sales, admin & other: $6.1B Revenue: $21.8B REVENUE $21.8B +8% Y/Y Gross profit: $9.9B · 45% margin GROSS PROFIT $9.9B 45% margin Cost of revenue: $11.9B · 55% of revenue COST OF REVENUE $11.9B 55% of revenue Operating profit: $2.6B · 12% margin OPERATING PROFIT $2.6B 12% margin · +8% Y/Y Operating expenses: $7.3B · 34% of revenue OPERATING EXPENSES $7.3B 34% of revenue Net profit: $1.7B · 8% margin NET PROFIT $1.7B 8% margin · −2% Y/Y Tax & other: $901.0M · 4% of revenue TAX & OTHER $901.0M 4% of revenue R&D: $1.3B · 6% of revenue R&D $1.3B 6% of revenue Sales, admin & other: $6.1B · 28% of revenue SALES, ADMIN & OTHER $6.1B 28% of revenue
Gross profit $9.9B 45% margin
Operating profit $2.6B 12% margin · +8% Y/Y
Net profit $1.7B 8% margin · −2% Y/Y
The full income statement, year by year

BDX among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 8.2%, above 56% of 59 peers (their median 7.1%) REVENUE GROWTH 8.2% · above 56% Gross margin: 46.9%, above 30% of 50 peers (their median 65.2%) GROSS MARGIN 46.9% · above 30% Operating margin: 10.7%, above 38% of 50 peers (their median 13.7%) OPERATING MARGIN 10.7% · above 38% Net margin: 4.2%, above 32% of 59 peers (their median 9.7%) NET MARGIN 4.2% · above 32% FCF margin: 14.2%, above 44% of 55 peers (their median 15.8%) FCF MARGIN 14.2% · above 44% Return on capital: 5.6%, above 15% of 41 peers (their median 9.2%) RETURN ON CAPITAL 5.6% · above 15%
BDX Peer median Below the median

What changed

18 new risk paragraphs. 10-K filed Nov 25, 2025 against Nov 27, 2024.

Risk factors
18 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
4 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables -1.3% vs revenue +8.2% (-9.5 pts)
  • Cash from operations $3.4B vs net income $1.7B (FY ending Sep 30, 2025)
  • Inventory +1.3% vs revenue +8.2% (-6.9 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: ERNST & YOUNG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Business Combination. Same as last year: Income taxes — Uncertain tax positions
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

18 paragraphs in Risk Factors that were not in the 10-K filed Nov 27, 2024. Quoted as filed.

All 18 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Nov 27, 2024 10-K, ITEM 1A
    Specifically, recently enacted or any future tariffs imposed by the U.S. government (and countermeasures by non-U.S. governments) may result in adverse impacts to the global economic environment and the stability of global financial markets, which could alter global trade. The tariffs, sanctions or other trade barriers imposed by the…
  2. Item 1A · new paragraph · not in the 10-K filed Nov 27, 2024 10-K, ITEM 1A
    A global trend towards limiting growth of healthcare costs may also put industry-wide pressure on medical device or clinical diagnostic pricing. In the U.S., the Center for Medicaid Services (“CMS”) has proposed the expansion of its Competitive Bidding Program (“CBP”). This proposed expansion would introduce a pricing model that could…
  3. Item 1A · new paragraph · not in the 10-K filed Nov 27, 2024 10-K, ITEM 1A
    While we have made, and expect to continue making, significant investments intended to strengthen our cybersecurity posture—including measures designed to protect our products, systems, and data—we cannot guarantee that these efforts will fully prevent, mitigate or remediate cybersecurity incidents or breaches. We maintain processes…
  4. Item 1A · new paragraph · not in the 10-K filed Nov 27, 2024 10-K, ITEM 1A
    We are also subject to complex and rapidly evolving privacy and data protection laws, regulations and standards which govern the collection, use, storage, transfer, sharing and processing of personal data (particularly sensitive health information) across the U.S. and a significant number of other countries where we operate. The nature…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$18.9B$19.4B$20.2B$21.8B
Net income$1.8B$1.5B$1.7B$1.7B
Operating cash flow$2.5B$3.0B$3.8B$3.4B
Free cash flow$1.5B$2.1B$3.1B$2.7B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$21.8B ▲ 8.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

4 filings in the last 30 days · SEC EDGAR

All filings

About the company

Becton Dickinson, Franklin Lakes, NJ · from the 10-K filed Nov 25, 2025

Becton, Dickinson and Company (also referred to herein as "BD") was incorporated under the laws of the State of New Jersey in November 1906, as successor to a New York business started in 1897. BD’s executive offices are located at 1 Becton Drive, Franklin Lakes, New Jersey 07417-1880, and its telephone number is (201) 847-6800. All references in this Form 10-K to "BD", "the Company", "we", "our" or "us" refer to Becton, Dickinson and Company and its domestic and foreign subsidiaries, unless otherwise indicated by the context.

Headquarters
Franklin Lakes, NJ
Country
United States
Listed on
NYSE
Fiscal year ends
September 30
Last results
Nov 5, 2026
Incorporated in
NJ

Email alerts

Sources

The 10-K filed Nov 25, 2025 (open at SEC), compared with the 10-K filed Nov 27, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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