Company Valuation: Becton, Dickinson and Company

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 70,597 63,550 75,002 69,688 53,648 50,073 - -
Change - -9.98% 18.02% -7.08% -23.02% -6.66% - -
Enterprise Value (EV) 1 85,924 78,609 89,465 88,081 72,188 65,958 64,024 62,258
Change - -8.51% 13.81% -1.55% -18.04% -8.63% -2.93% -2.76%
P/E 35.9x 37.9x 52.3x 40.7x 32.2x 35.4x 19.7x 16.3x
PBR 2.95x 3.21x 3.71x 2.69x 2.1x 1.95x 1.85x 1.75x
PEG - -2.7x -3.3x 2x -17.36x -3.3x 0.2x 0.8x
Capitalization / Revenue 3.49x 3.37x 3.87x 3.44x 2.46x 2.6x 2.54x 2.44x
EV / Revenue 4.24x 4.17x 4.62x 4.35x 3.31x 3.42x 3.24x 3.03x
EV / EBITDA 14.7x 15.2x 13.1x 12.4x 12x 11.7x 11.1x 10.2x
EV / EBIT 17.3x 18x 19.6x 18.3x 13.2x 13.7x 13x 12x
EV / FCF 25.2x 52.5x 42.3x 28.2x 27x 22.5x 24.1x 22.2x
FCF Yield 3.98% 1.91% 2.37% 3.54% 3.7% 4.45% 4.16% 4.5%
Dividend per Share 2 3.32 3.48 3.64 3.8 4.16 3.924 3.991 3.993
Rate of return 1.35% 1.56% 1.41% 1.58% 2.22% 2.13% 2.17% 2.17%
EPS 2 6.85 5.88 4.94 5.93 5.82 5.189 9.309 11.28
Distribution rate 48.5% 59.2% 73.7% 64.1% 71.5% 75.6% 42.9% 35.4%
Net sales 1 20,248 18,870 19,372 20,245 21,840 19,260 19,733 20,530
EBITDA 1 5,838 5,160 6,846 7,099 6,028 5,628 5,759 6,087
EBIT 1 4,971 4,362 4,558 4,813 5,468 4,832 4,928 5,178
Net income 1 2,002 1,689 1,424 1,726 1,678 1,437 2,340 2,714
Net Debt 1 15,327 15,059 14,463 18,393 18,540 15,885 13,952 12,185
Reference price 2 245.82 222.83 258.53 241.10 187.17 183.83 183.83 183.83
Nbr of stocks (in thousands) 287,190 285,195 290,109 289,042 286,627 272,387 - -
Announcement Date 11/4/21 A 11/10/22 A 11/9/23 A 11/7/24 A 11/6/25 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.61x3.96x15.3x2.55% 175B
18.93x3.47x12.41x3.15% 114B
16.64x0.19x12.23x0.78% 57.98B
35.43x3.42x11.72x2.13% 50.07B
28.77x7.1x18.35x1.39% 50.13B
34.75x6.11x19.18x-.--% 32.71B
46x1.3x12.07x0.21% 30.77B
43.81x7.69x27.57x0.24% 26.44B
55.45x7.38x23.73x0.38% 23.96B
Average 34.26x 4.51x 16.95x 1.2% 62.36B
Weighted average by Cap. 29.19x 4.00x 15.33x 1.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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