Becton, Dickinson and Company
184.21-2.83 (-1.51%)
Oct 28, 4:00:02 PM EDT · NYSE · BDX · USD
Key Stats
Market Cap
52.80BP/E (TTM)
33.74Basic EPS (TTM)
5.46Dividend Yield
0.02%Recent Filings
8-K
BD CFO transition and revenue
BD announced CFO Chris DelOrefice's resignation effective December 5, 2025, to pursue another opportunity, with no disagreements noted; Vitor Roque steps in as interim CFO amid a search for a permanent replacement. The company reported preliminary Q4 revenue of $5.9 billion, up 8.3% reported and 3.9% organic, and full-year revenue of $21.8 billion, up 8.2% reported and 2.9% organic, despite macro headwinds in vaccines and research. Adjusted EPS guidance holds at the midpoint. Transition ensures continuity.
8-K
BD amends $2.75B credit facility
Becton Dickinson amended its revolving credit facility on September 16, 2025, boosting commitments to $2.75 billion from Citibank and other lenders, with a potential $500 million accordion to reach $3.25 billion, maturing in September 2030 and extendable twice by one year each. This senior unsecured line, including $100 million for letters of credit and $236 million swingline in euros, supports general corporate needs while tying interest to Term SOFR or EURIBOR plus margins from 0.80% based on ratings. Lenders hold sway over acceleration on covenant breaches, like a leverage ratio capped at 4.25:1 or 4.75:1 post-major acquisition. Flexibility reigns, but debt discipline binds.
10-Q
Q3 FY2025 results
BD's Q3 revenues climbed 10.4% year-over-year to $5.509B, fueled by the Advanced Patient Monitoring acquisition and steady volume gains across Medical and Interventional segments, while Life Sciences dipped slightly amid China headwinds. Operating income surged 46.5% to $882M, lifting margins to 16.0% from 12.1%, thanks to productivity gains offsetting integration costs. Diluted EPS rose 19% to $2.00, aligning with 287M weighted shares; YTD EPS of $4.10 reflects a 9% drop but reconciles cleanly without dilution quirks. Cash from operations hit $2.076B YTD, funding $750M share repurchases and $899M dividends, with $19.3B total debt at 3.3% average rate and $2.75B revolver fully available. The July 2025 deal to spin off Biosciences and Diagnostics into a Waters merger promises $4B cash inflow by Q1 2026, pending approvals. Yet regulatory pressures, like FDA warning letters on quality systems, linger as a key watchpoint.
8-K
BD lifts EPS guidance on solid Q3
BD reported Q3 fiscal 2025 revenue of $5.5 billion, up 10.4% reported and 3.0% organic, with adjusted EPS rising 5.1% to $3.68 amid BD Excellence-driven margin gains. The company raised full-year adjusted EPS guidance to $14.30-$14.45 while reaffirming 3.0%-3.5% organic revenue growth. Strong Medical segment performance offset Life Sciences softness. BD eyes transaction close with Waters for value creation.
8-K
BD spins off unit to Waters
BD announced a Reverse Morris Trust deal on July 14, 2025, spinning off its Biosciences and Diagnostic Solutions unit—expected to generate $3.4 billion in 2025 revenue and $925 million adjusted EBITDA—into a merger with Waters, valued at $17.5 billion. This tax-efficient structure lets BD shareholders own 39.2% of the combined entity, which doubles Waters' addressable market to $40 billion while targeting $345 million in annualized EBITDA synergies by 2030 through cost savings and cross-selling. Yet regulatory approvals loom large. Deal closes Q1 2026.
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