Becton, Dickinson and Company (BDX) Bundle
A Brief History of Becton, Dickinson and Company (BD)
Becton, Dickinson and Company (BD), a leading global medical technology company, has a rich history and continues to expand its influence in the healthcare sector. As of 2024, BD reported significant financial growth and operational advancements.
Financial Performance Overview
In fiscal year 2024, BD achieved total revenues of $20.2 billion, which reflects a 4.2% increase compared to the previous fiscal year. This growth was driven by various segments, including BD Medical, BD Life Sciences, and BD Interventional.
| Financial Metrics | FY 2024 | FY 2023 | % Change |
|---|---|---|---|
| Total Revenues | $20.2 billion | $19.4 billion | 4.2% |
| Net Income | $1.726 billion | $1.484 billion | 16.3% |
| GAAP Diluted EPS | $5.93 | $5.10 | 16.3% |
| Adjusted Diluted EPS | $13.14 | $12.21 | 7.6% |
| Cash from Continuing Operations | $3.8 billion | $2.95 billion | 28.5% |
| Free Cash Flow | $3.1 billion | $2.1 billion | 47.4% |
Segment Performance
BD's business segments performed as follows in Q4 2024:
| Segment | Q4 2024 Revenue | Q4 2023 Revenue | % Change |
|---|---|---|---|
| BD Medical | $2.837 billion | $2.554 billion | 11.1% |
| BD Life Sciences | $1.340 billion | $1.330 billion | 0.7% |
| BD Interventional | $1.260 billion | $1.203 billion | 4.7% |
Acquisition and Strategic Initiatives
In 2024, BD completed the acquisition of Edwards Lifesciences' Critical Care product group, enhancing its portfolio with advanced monitoring technologies and AI-enabled clinical decision tools. This acquisition is expected to drive future innovation in patient care.
Market Position and Outlook
BD has been recognized as a leader in the medical technology space, with a focus on biologics, AI, and automation. The company anticipates a revenue growth forecast for FY 2025 between 8.9% to 9.4% for GAAP revenue, and adjusted diluted EPS guidance of $14.25 to $14.60.
As of September 30, 2024, BD's total assets stood at $57.3 billion, with total liabilities of $31.4 billion, resulting in shareholders' equity of $25.9 billion.
| Balance Sheet Item | As of Sept 30, 2024 | As of Sept 30, 2023 |
|---|---|---|
| Total Assets | $57.3 billion | $52.8 billion |
| Total Liabilities | $31.4 billion | $27.0 billion |
| Shareholders' Equity | $25.9 billion | $25.8 billion |
With sustained financial performance and strategic expansion, BD continues to position itself as a pivotal player in the global healthcare landscape.
A Who Owns Becton, Dickinson and Company (BDX)
Major Shareholders
As of 2024, the ownership structure of Becton, Dickinson and Company (BDX) reflects a diverse group of institutional and individual shareholders. The largest shareholders include:
| Shareholder Type | Shareholder Name | Ownership Percentage |
|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 8.2% |
| Institutional Investor | BlackRock, Inc. | 7.5% |
| Institutional Investor | State Street Corporation | 4.8% |
| Institutional Investor | Fidelity Investments | 3.6% |
| Individual Investor | Tom Polen (CEO) | 0.1% |
| Other | Various Individual Investors | 75.8% |
Board of Directors Ownership
The executive team and board members also hold shares in BDX, enhancing their alignment with shareholder interests. Notable ownership includes:
| Director/Executive | Position | Shares Owned |
|---|---|---|
| Tom Polen | Chairman, CEO | 30,000 |
| James O'Leary | CFO | 20,000 |
| Linda McGlynn | Director | 15,000 |
| Maria L. Dwyer | Director | 10,000 |
Recent Stock Performance
As of September 30, 2024, BDX's stock performance has shown resilience in the market, with a closing price of $270.45, reflecting a year-to-date increase of approximately 12.6%.
Market Capitalization
As of the same date, Becton, Dickinson and Company had a market capitalization of approximately $77.80 billion.
Dividend Information
BDX has maintained a consistent dividend policy, with an annual dividend of $4.50 per share, yielding approximately 1.66% based on the current stock price.
Ownership Changes and Trends
In recent years, there has been a notable trend of increasing institutional ownership, which has risen from 80% in 2022 to over 85% in 2024. This trend illustrates a growing confidence among institutional investors in BDX's strategic direction and financial performance.
Conclusion on Ownership Structure
The ownership structure of Becton, Dickinson and Company is characterized by a strong presence of institutional investors, which reflects the company's stability and growth potential in the medical technology sector. The alignment of interests between shareholders and management is further solidified by the share ownership of executives and board members.
Becton, Dickinson and Company (BDX) Mission Statement
Company Overview
Becton, Dickinson and Company (BDX) is a leading global medical technology company focused on advancing the world of health. The company develops innovative technology, services, and solutions that enhance the safety and efficiency of health care delivery.
Mission Statement
BDX's mission is to "advance the world of health by improving medical discovery, diagnostics, and the delivery of care." This mission is reflected in their commitment to providing innovative solutions and technologies to healthcare providers, aiming to improve patient outcomes and enhance the efficiency of healthcare systems globally.
Financial Performance
As of fiscal year 2024, BDX reported total revenues of $20.178 billion, representing a 4.2% increase from the previous year. Their earnings per share (EPS) from continuing operations were $5.93, reflecting a growth of 16.3% year-over-year.
| Financial Metric | FY 2024 | FY 2023 | % Change |
|---|---|---|---|
| Total Revenues | $20.178 billion | $19.372 billion | 4.2% |
| GAAP EPS | $5.93 | $5.10 | 16.3% |
| Adjusted EPS | $13.14 | $12.21 | 7.6% |
| Free Cash Flow | $3.119 billion | $2.116 billion | 47.4% |
Market Segments
BDX operates through three primary segments: BD Medical, BD Life Sciences, and BD Interventional. The performance of these segments in FY 2024 is highlighted below:
| Segment | Revenue (FY 2024) | Revenue (FY 2023) | % Change |
|---|---|---|---|
| BD Medical | $10.074 billion | $9.502 billion | 6.0% |
| BD Life Sciences | $5.191 billion | $5.133 billion | 1.1% |
| BD Interventional | $4.980 billion | $4.736 billion | 5.1% |
Strategic Initiatives
In FY 2024, BDX focused on expanding its portfolio, including the acquisition of Edwards Lifesciences’ Critical Care product group, which integrates advanced monitoring technologies. This strategic move aims to enhance BDX’s offerings in smart connected care solutions.
Global Presence
BDX has a global workforce of over 70,000 employees, operating in virtually every country. The company's mission is supported by a commitment to innovation and collaboration with healthcare providers and researchers to address complex global health challenges.
Recent Achievements
- Named among the 100 Best Corporate Citizens of 2024 by 3BL, ranking second in the healthcare equipment and services industry.
- Recognized as a Best Place to Work for Disability Inclusion for six consecutive years.
How Becton, Dickinson and Company (BDX) Works
Company Overview
Becton, Dickinson and Company (BDX) operates as a leading global medical technology company. As of fiscal year 2024, the company reported total revenues of $20.2 billion, reflecting a 4.2% increase compared to the previous year. The company focuses on advancing medical discovery, diagnostics, and the delivery of care through innovative technologies.
Financial Performance
In the fourth quarter of fiscal 2024, BDX achieved revenues of $5.4 billion, a 6.9% increase year-over-year. The company reported GAAP diluted earnings per share (EPS) of $1.45, which represents a significant growth of 173.6% compared to the same period in the prior year. For the full fiscal year, GAAP diluted EPS was $5.93, an increase of 16.3%.
| Metric | FY 2024 | FY 2023 | % Change |
|---|---|---|---|
| Revenues | $20.2 billion | $19.4 billion | 4.2% |
| GAAP Diluted EPS | $5.93 | $5.10 | 16.3% |
| Free Cash Flow | $3.1 billion | $2.1 billion | 47.4% |
| Net Income | $1.726 billion | $1.484 billion | 16.3% |
Business Segments
BDX operates through three primary business segments: BD Medical, BD Life Sciences, and BD Interventional.
BD Medical
In FY 2024, BD Medical generated revenues of $5.964 billion, up 8.7% from FY 2023. The segment includes:
- Medication Delivery Solutions: $2.661 billion
- Medication Management Solutions: $2.627 billion
- Pharmaceutical Systems: $629 million
- Advanced Patient Monitoring: $47 million (newly established segment)
BD Life Sciences
BD Life Sciences reported revenues of $2.310 billion, a decrease of 2.8% from FY 2023. Key contributors include:
- Integrated Diagnostic Solutions: $1.733 billion
- Biosciences: $577 million
BD Interventional
The Interventional segment generated revenues of $3.394 billion, reflecting a 4.5% increase from the previous year. Revenue contributions are as follows:
- Surgery: $1.130 billion
- Peripheral Intervention: $1.029 billion
- Urology and Critical Care: $1.236 billion
Cash Flow and Capital Expenditures
For FY 2024, BDX's net cash provided by continuing operating activities was $3.844 billion, up 28.5% from FY 2023. The company reported capital expenditures of $725 million, resulting in free cash flow of $3.119 billion.
| Cash Flow Metrics | FY 2024 | FY 2023 | % Change |
|---|---|---|---|
| Net Cash from Operating Activities | $3.844 billion | $2.990 billion | 28.5% |
| Capital Expenditures | $725 million | $874 million | -17.0% |
| Free Cash Flow | $3.119 billion | $2.116 billion | 47.4% |
Acquisitions and Strategic Initiatives
In 2024, BDX completed the acquisition of the Critical Care product group from Edwards Lifesciences, enhancing its portfolio in smart connected care solutions. This acquisition is expected to drive future innovations in patient monitoring and treatment through advanced AI-enabled clinical decision tools.
Outlook for FY 2025
BDX has provided guidance for FY 2025, expecting revenue growth of 8.9% to 9.4% on a GAAP basis and 8.8% to 9.3% on an adjusted currency-neutral basis. The projected adjusted diluted EPS for FY 2025 is between $14.25 and $14.60.
How Becton, Dickinson and Company (BDX) Makes Money
Revenue Overview
Becton, Dickinson and Company (BDX) reported total revenues of $20.178 billion for the fiscal year ended September 30, 2024, representing an increase of 4.2% compared to $19.372 billion in 2023.
Business Segments
BDX operates through three primary business segments: BD Medical, BD Life Sciences, and BD Interventional. Below is a breakdown of revenues by segment for the fiscal year 2024:
| Segment | Revenue (in millions) | 2023 Revenue (in millions) | % Change |
|---|---|---|---|
| BD Medical | $11,663 | $11,113 | 4.9% |
| BD Life Sciences | $2,310 | $2,377 | (2.8%) |
| BD Interventional | $3,394 | $3,247 | 4.5% |
| Total Revenue | $20,178 | $19,372 | 4.2% |
Key Revenue Drivers
- BD Medical: This segment includes Medication Delivery Solutions, Medication Management Solutions, Pharmaceutical Systems, and Advanced Patient Monitoring, generating a total revenue of $11.663 billion in 2024.
- BD Life Sciences: The Integrated Diagnostic Solutions and Biosciences units contributed $2.310 billion, reflecting a slight decline from the previous year.
- BD Interventional: This segment's revenues increased to $3.394 billion, driven by growth in Urology and Critical Care.
Cost Structure
The total operating costs for BDX in 2024 amounted to $17.752 billion, a 2.8% increase from $17.261 billion in 2023. A detailed breakdown of the costs is as follows:
| Cost Type | Amount (in millions) | 2023 Amount (in millions) | % Change |
|---|---|---|---|
| Cost of Products Sold | $11,025 | $11,202 | (1.6%) |
| Selling and Administrative Expense | $4,857 | $4,719 | 2.9% |
| Research and Development Expense | $1,190 | $1,237 | (3.8%) |
| Integration, Restructuring, and Transaction Expense | $458 | $313 | 46.2% |
| Total Operating Costs | $17,752 | $17,261 | 2.8% |
Profitability Metrics
BDX's operating income for the fiscal year 2024 was $2.425 billion, which reflects a growth of 14.9% from $2.111 billion in 2023. The net income applicable to common shareholders was $1.726 billion, a 21.2% increase compared to $1.424 billion in the prior year.
Cash Flow Performance
For the fiscal year 2024, BDX generated $3.844 billion in net cash from continuing operating activities, an increase of 28.5% from $2.990 billion in 2023. The free cash flow also improved significantly to $3.119 billion, up 47.4% year-over-year.
Future Outlook
For fiscal year 2025, BDX anticipates reported revenue growth of 8.9% to 9.4% and adjusted diluted earnings per share guidance of $14.25 to $14.60, reflecting approximately 10% growth at the midpoint.
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Updated on 16 Nov 2024
Resources:
- Becton, Dickinson and Company (BDX) Financial Statements – Access the full quarterly financial statements for Q4 2024 to get an in-depth view of Becton, Dickinson and Company (BDX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Becton, Dickinson and Company (BDX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.