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 48,757 - -
Change - -9.98% 18.02% -7.08% -23.02% -9.12% - -
Enterprise Value (EV) 1 85,924 78,609 89,465 88,081 72,188 64,642 62,709 60,942
Change - -8.51% 13.81% -1.55% -18.04% -10.45% -2.99% -2.82%
P/E 35.9x 37.9x 52.3x 40.7x 32.2x 34.5x 19.2x 15.9x
PBR 2.95x 3.21x 3.71x 2.69x 2.1x 1.9x 1.8x 1.7x
PEG - -2.7x -3.3x 2x -17.36x -3.2x 0.2x 0.7x
Capitalization / Revenue 3.49x 3.37x 3.87x 3.44x 2.46x 2.53x 2.47x 2.37x
EV / Revenue 4.24x 4.17x 4.62x 4.35x 3.31x 3.36x 3.18x 2.97x
EV / EBITDA 14.7x 15.2x 13.1x 12.4x 12x 11.5x 10.9x 10x
EV / EBIT 17.3x 18x 19.6x 18.3x 13.2x 13.4x 12.7x 11.8x
EV / FCF 25.2x 52.5x 42.3x 28.2x 27x 22x 23.6x 21.8x
FCF Yield 3.98% 1.91% 2.37% 3.54% 3.7% 4.54% 4.24% 4.6%
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% 2.19% 2.23% 2.23%
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 2 245.82 222.83 258.53 241.10 187.17 179.00 179.00 179.00
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28x3.88x15.01x2.6% 171B
18.25x3.37x12.03x3.26% 110B
21.42x4.21x14.72x1.31% 106B
25.75x2.52x10.21x2.8% 75.99B
16.44x0.19x12.1x0.79% 57.3B
34.49x3.36x11.49x2.19% 48.76B
28.75x7.1x18.34x1.39% 50.19B
35.36x8.79x24.72x-.--% 41.14B
34.67x6.08x19.09x-.--% 32.56B
Average 27.02x 4.39x 15.30x 1.59% 77B
Weighted average by Cap. 25.50x 3.99x 14.49x 1.99%

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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