Becton Dickinson (BDX) FY2012 results: revenue $7.7 billion, up 1.6% on the year
Becton Dickinson & Co. (BDX) reported revenue of $7.7 billion for fiscal 2012, the year ended 30 September 2012, up 1.6% on the year before. Net income was $1.2 billion, down 7.9%, and diluted earnings per share $5.59. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2012.
Revenue
$7.7 billion
+1.6% on the year
FY2007FY2012
Operating margin
20.2%
22.0% a year earlier
FY2007FY2012
Net income
$1.2 billion
-7.9% on the year
FY2007FY2012
Diluted EPS
$5.59
-0.5% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
7,708
7,584
7,124
+1.6%
Cost of revenue
3,755
3,625
3,428
+3.6%
Gross profit
3,953
3,959
3,696
-0.2%
Gross margin
51.3%
52.2%
51.9%
Research and development
472
470
423
+0.4%
Selling, general and administrative
1,923
1,824
1,691
+5.4%
Operating income
1,558
1,666
1,582
-6.5%
Operating margin
20.2%
22.0%
22.2%
Interest expense
135
84.0
51.3
+60.7%
Pre-tax income
1,472
1,618
1,567
-9.0%
Income tax
363
417
452
-13.0%
Effective tax rate
24.6%
25.8%
28.8%
Net income
1,170
1,271
1,318
-7.9%
Net margin
15.2%
16.8%
18.5%
Diluted EPS
$5.59
$5.62
$5.49
-0.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,760
1,716
1,744
+2.6%
Capital expenditure
487
509
531
-4.2%
Free cash flow
1,273
1,207
1,213
+5.4%
Free cash flow margin
16.5%
15.9%
17.0%
Depreciation and amortisation
511
494
491
+3.4%
Share-based compensation
89.0
73.0
79.4
+22.0%
Buybacks
1,500
1,500
750
-0.0%
Dividends paid
368
361
346
+1.8%
Dividend per share
n/a
n/a
$1.48
Diluted shares, weighted
209m
226m
240m
-7.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,136
4,828
5,435
-14.3%
Debt
4,166
2,720
1,698
+53.2%
Other liabilities
3,059
2,883
2,518
+6.1%
Total liabilities and equity
11,361
10,430
9,651
+8.9%
Fixed assets
3,304
3,211
3,100
+2.9%
Goodwill
1,076
991
764
+8.6%
Cash and equivalents
1,671
1,175
1,216
+42.2%
Receivables
1,250
1,229
1,205
+1.7%
Inventory
1,241
1,245
1,145
-0.3%
Other assets
2,820
2,579
2,220
+9.3%
Total assets
11,361
10,430
9,651
+8.9%
10-K for the year ended 30 September 2012, filed 21 November 2012: the filing.