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 50,321 - -
Change - -9.98% 18.02% -7.08% -23.02% -6.2% - -
Enterprise Value (EV) 1 85,924 78,609 89,465 88,081 72,188 66,206 64,272 62,506
Change - -8.51% 13.81% -1.55% -18.04% -8.29% -2.92% -2.75%
P/E 35.9x 37.9x 52.3x 40.7x 32.2x 35.6x 19.8x 16.4x
PBR 2.95x 3.21x 3.71x 2.69x 2.1x 1.96x 1.85x 1.76x
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 2.61x 2.55x 2.45x
EV / Revenue 4.24x 4.17x 4.62x 4.35x 3.31x 3.43x 3.26x 3.04x
EV / EBITDA 14.7x 15.2x 13.1x 12.4x 12x 11.8x 11.2x 10.3x
EV / EBIT 17.3x 18x 19.6x 18.3x 13.2x 13.7x 13x 12.1x
EV / FCF 25.2x 52.5x 42.3x 28.2x 27x 20.9x 24.2x 22.3x
FCF Yield 3.98% 1.91% 2.37% 3.54% 3.7% 4.78% 4.14% 4.48%
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% 2.12% 2.16% 2.16%
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 19,291 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 2 245.82 222.83 258.53 241.10 187.17 184.74 184.74 184.74
Nbr of stocks (in thousands) 287,190 285,195 290,109 289,042 286,627 272,387 - -
Announcement Date 11/4/21 11/10/22 11/9/23 11/7/24 11/6/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
36.16x3.47x11.9x2.09% 51.11B
31.21x4.22x16.21x2.36% 188B
19.69x3.59x12.84x3.05% 119B
18.47x0.21x13.42x0.71% 64.35B
29.98x7.39x19.09x1.33% 52.59B
35.96x6.33x19.86x-.--% 33.85B
47.24x1.35x12.52x0.2% 32.1B
39.97x7x25.11x0.26% 24.12B
18.39x2.93x10.38x1.5% 23.39B
50.65x6.82x21.93x0.42% 22.46B
Average 32.77x 4.33x 16.33x 1.19% 61.14B
Weighted average by Cap. 29.60x 4.01x 15.49x 1.78%

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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