Touchstone
Last syncOct 31, 2026, 6:54 PM ET

BDX

Becton Dickinson & Co Health Care Surgical & Medical Instruments & Apparatus S&P 500Russell 3000
$197.88Close $73.3BMarket cap $135.29 – $200.4252-week range Nov 5, 2026Next report · before the open

Highlights

Strengths

  • In a stage-2 uptrend all 8 trend conditions pass
  • Leading the market RS 83 · stronger than 83% of stocks over 12 months
  • Near its high 1% below its 52-week high

Cautions

  • Earnings shrinking EPS −31% year on year
  • Results soon Nov 5, 2026, in 4 days

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Sep 30, 2025 · filed Aug 6, 2026
Off 12-month high 1%
1wk down 0.5% price change
1mo up 10.5% price change
12-month return up 44% market up 11% · its own up 31%
F-score 6 / 9 Mixed
Altman Z 2.46 Moderate risk
P/E 43.7× price / earnings
PEG — P/E / EPS growth
P/B 2.9× price / book
Earnings yield up 2.9% EBIT / enterprise value
Cheaper than 51% of the market · around average
Revenue growth up 8% year on year
EPS growth down 31% latest quarter · +172 pts
Sales growth up 5% latest quarter · +0 pts
ROE up 7% return on equity
Free cash margin up 12% $2.7B FCF
D/E 0.69 long-term debt / equity
Net debt / EBITDA 3.4×
Interest cover 4.2×EBIT / interest
Piotroski tests
  • profitability slipped from last year
  • short-term liquidity weakened
  • assets working less efficiently
  • profitable on its assets
  • generating cash from operations
  • profits backed by cash
  • reduced long-term debt
  • no new shares issued
  • gross margin widened

Trade setup

ATR% 1.9% $3.86 a day · 2×ATR $190.16
RS 83 / 99 vs the universe
Trend 8 / 8 trend template
Relative volume 1.7× vs 50-day average
Up/down volume 0.77 50 sessions
Implied move 6.9% by Nov 20, 2026 · report Nov 5, 2026
Trend template · 8 of 8

Screen verdict

Did not qualify for any screen.

Warning signs

none flagged
  • No restatement or impairment
  • Equity positive
  • Interest covered
  • No material dilution
  • Profits tracking cash
  • Margins and revenue not shrinking
Last reported Aug 6, 2026
Results reaction Aug 6, 2026+3% vs market2 sessions after results
Options $269,83236.1% IV · activity

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $21.8B +8% on FY2024
$0 $25B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $16.1B FY2021 · $19.1B FY2022 · $18.9B FY2023 · $19.4B FY2024 · $20.2B FY2025 · $21.8B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $1.7B -2% on FY2024
$0 $2.5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $874.0M FY2021 · $2.1B FY2022 · $1.8B FY2023 · $1.5B FY2024 · $1.7B FY2025 · $1.7B
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $2.7B -14% on FY2024
$0 $5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $2.8B FY2021 · $3.5B FY2022 · $1.5B FY2023 · $2.1B FY2024 · $3.1B FY2025 · $2.7B
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 45%
  • Net 8%
  • Free cash 12%
0% 50% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 47% · Net 5% · Free cash 17% FY2021 · Gross 45% · Net 11% · Free cash 18% FY2022 · Gross 45% · Net 9% · Free cash 8% FY2023 · Gross 42% · Net 8% · Free cash 11% FY2024 · Gross 45% · Net 8% · Free cash 15% FY2025 · Gross 45% · Net 8% · Free cash 12%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $17.1B net debt
  • Cash
  • Long-term debt
$0 $20B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $2.8B · Long-term debt $17.2B FY2021 · Cash $2.3B · Long-term debt $17.1B FY2022 · Cash $1.0B · Long-term debt $13.9B FY2023 · Cash $1.4B · Long-term debt $14.7B FY2024 · Cash $1.7B · Long-term debt $17.9B FY2025 · Cash $567.0M · Long-term debt $17.6B
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 370.59m +1.6% since FY2020
370.59m 364.64m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 364.64m FY2021 · 364.64m FY2022 · 364.64m FY2023 · 370.59m FY2024 · 370.59m FY2025 · 370.59m
  FY2020Sep 30, 2020 FY2021Sep 30, 2021 FY2022Sep 30, 2022 FY2023Sep 30, 2023 FY2024Sep 30, 2024 FY2025Sep 30, 2025
Revenue $16.1B $19.1B $18.9B $19.4B $20.2B $21.8B
Gross margin 47% 45% 45% 42% 45% 45%
Operating income $912.0M $2.2B $2.3B $2.1B $2.4B $2.6B
Net income $874.0M $2.1B $1.8B $1.5B $1.7B $1.7B
Net margin 5% 11% 9% 8% 8% 8%
Earnings per share $3.09 $7.16 $6.19 $5.15 $5.86 $5.82
Free cash flow $2.8B $3.5B $1.5B $2.1B $3.1B $2.7B
Free cash margin 17% 18% 8% 11% 15% 12%
Cash $2.8B $2.3B $1.0B $1.4B $1.7B $567.0M
Long-term debt $17.2B $17.1B $13.9B $14.7B $17.9B $17.6B
Shareholders' equity $23.8B $23.7B $25.3B $25.8B $25.9B $25.4B
Shares outstanding 364.64m 364.64m 364.64m 370.59m 370.59m 370.59m

Next report

Nov 5, 2026 · before the open

Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology ±6.9% $184 – $212 by Nov 20, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology ±3.4% last 4: +3.6% · +3.2% · -0.7% · +4.0%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology Bigger than usual 2.0× the usual move

What options price now

Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
Bigger 36.1% priced · 21.5% recent
Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
Choppier
Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
past week: costs less
Positioning
Premium traded
$269,832 calls $258,445 · puts $11,388 · latest session
Puts against calls, by premium Money spent on puts divided by money spent on calls. Measured in dollars rather than contracts on purpose: counting contracts treats a hundred cheap lottery tickets as more meaningful than one large position, which is backwards. Methodology
0.04× -0.19 over the week
Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
calls +1.10k · puts +374 past week

For options traders: ATM IV 36.1% (+3.5% 1w) · 1m ÷ 3m IV 1.03 · 25Δ skew 2.4 pts · Net GEX $4.5M

Most traded contracts

No contract passed the liquidity filters this week.

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 6, 2026 Quarterly ↗ Jun 30, 2026 37d
May 7, 2026 Quarterly ↗ Mar 31, 2026 37d
Feb 9, 2026 Quarterly ↗ Dec 31, 2025 40d
Nov 25, 2025 Annual ↗ Sep 30, 2025 56d
Aug 7, 2025 Quarterly ↗ Jun 30, 2025 38d
May 1, 2025 Quarterly ↗ Mar 31, 2025 31d
Feb 6, 2025 Quarterly ↗ Dec 31, 2024 37d
Nov 27, 2024 Annual ↗ Sep 30, 2024 58d
Aug 1, 2024 Quarterly ↗ Jun 30, 2024 32d
May 2, 2024 Quarterly ↗ Mar 31, 2024 32d
Feb 1, 2024 Quarterly ↗ Dec 31, 2023 32d
Nov 21, 2023 Annual ↗ Sep 30, 2023 52d

Current reports

FiledDisclosed
Aug 6, 2026 Results ↗
Jul 22, 2026 Director or officer change · Regulation FD ↗
May 29, 2026 Regulation FD ↗
May 20, 2026 Material agreement · New obligation ↗
May 12, 2026 Other events ↗
May 7, 2026 Results ↗
Apr 29, 2026 Charter or bylaws ↗
Apr 9, 2026 Director or officer change · Regulation FD ↗
Apr 2, 2026 Results ↗
Feb 25, 2026 Other events ↗
Feb 10, 2026 Other events ↗
Feb 9, 2026 Results ↗