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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.
11.81% operating margin is respectable but not wide. ROIC at 5.15%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 8.2%, steady but not accelerating. Free cash flow declined 14% despite revenue growth, conversion is weakening.
Free cash flow declined 14% versus the prior year, cash generation momentum has weakened. Net debt of $19.37B represents 7.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$22.16B
▲ +8.2% YoY
Net Income (TTM)
$1.14B
▼ -1.6% YoY
Op. Margin
10.78%
ROIC
4.86%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$2.67B
▼ -14.4% YoY
Op. Cash Flow (FY)
$3.43B
▼ -10.8% YoY
Net Debt
$16.46B
Cash & Equiv.
$816M
5Y CAGR: +6.3%
5Y CAGR: -0.7%
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