Becton Dickinson & Co.
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+ FollowMarket Cap$72.55B
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Earnings Call Q3 2026
August 6, 2026 - AI Summary
Strong Q3 performance (first full quarter as “New BD”)
- Revenue: $5.0B, +4.4% YoY (FX-neutral); >90% of the portfolio delivered high single-digit growth.
- Adjusted EPS: $3.23, +4.9% YoY, ahead of expectations.
- Adjusted operating margin: 24.9% (down 100 bps YoY) vs. prior-year, with tariffs a key headwind (~110 bps); partially offset by mix and BD Excellence productivity.
- Adjusted gross margin: 54.3%.
Growth platform momentum drives the “good” story (with mix/faster growth)
- Highlighted double-digit growth in key platforms, including biologic drug delivery (GLP-1s), advanced patient monitoring (APM), PureWick, advanced tissue regeneration, plus strong peripheral vascular disease and Rowa pharmacy automation.
- U.S. strength: MDS and specimen management grew due to underlying utilization + share gains; specimen management benefited from improved supply and customer “working through” competitor backlogs.
Known headwinds remain the main “bad/surprising risk” to track
- Alaris: difficult prior-year comparisons; management frames this as a defined headwind with the remediation impact ending in FY’27.
- Guidance discussion implies ~200 bps headwind in FY’27 (from the Alaris remediation flow-through ending).
- Vaccines in China: continued pressure, treated as expected/dynamic; management expects some stabilization by end of summer and that the headwind should ease as Q4 laps earlier weakness.
- Net margin pressure: tariffs (~110 bps) impacted Q3 margin; also implies continued inclusion in FY’26 margin outlook.
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$559.22
181.6% upside
Current Fair Value
181.6% upsideUndervalued by 181.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $72.55 Billion |
|---|---|
| Enterprise Value | $88.65 Billion |
| Annual dividend | $3.98 |
| Dividend yield | 2.01% |
| Earnings per Share | $5.84 |
| Beta | 0.28 |
| Outstanding Shares | 274,788,000 |
Return
| Return on Equity | 3.85% |
|---|---|
| Return on Assets | 1.85% |
| Return on Invested Capital | 5.16% |
Valuation & Multiples
| P/E Ratio | 59.6 |
|---|---|
| PEG | -188 |
| Price to Sales | 2.65 |
| Price to Book Ratio | 2.26 |
| Enterprise Value to Revenue | 4.25 |
| Enterprise Value to EBIT | 41.54 |
| Enterprise Value to Net Income | 94 |
| Total Debt to Enterprise | 0.19 |
| Debt to Equity | 0.69 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 6, 2026
EPS Estimate
$3.14
Consensus analyst estimateRevenue Estimate
$4.89 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 5, 2026
EPS Estimate
$4.07
Consensus analyst estimateRevenue Estimate
$5.11 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 58.36% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 7.60%▼ 87.89% |
|---|---|
| Total Invested | $3.72B▼ 91.08% |
| Investors Holding | 573▼ 900.00% |
About Becton, Dickinson And Co.
72,000 employees
CEO: Thomas Polen
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of hea...