Becton Dickinson (BDX) FY2015 results: revenue $10.3 billion, up 21.7% on the year
Becton Dickinson & Co. (BDX) reported revenue of $10.3 billion for fiscal 2015, the year ended 30 September 2015, up 21.7% on the year before. Net income was $695 million, down 41.4%, and diluted earnings per share $3.35. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2015.
Revenue
$10.3 billion
+21.7% on the year
FY2008FY2015
Operating margin
10.4%
19.0% a year earlier
FY2008FY2015
Net income
$695 million
-41.4% on the year
FY2008FY2015
Diluted EPS
$3.35
-44.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
10,282
8,446
8,054
+21.7%
Cost of revenue
5,587
4,145
3,883
+34.8%
Gross profit
4,695
4,301
4,171
+9.2%
Gross margin
45.7%
50.9%
51.8%
Research and development
632
550
494
+14.9%
Selling, general and administrative
2,563
2,145
2,422
+19.5%
Operating income
1,074
1,606
1,254
-33.1%
Operating margin
10.4%
19.0%
15.6%
Interest expense
371
135
138
+174.8%
Pre-tax income
739
1,522
1,165
-51.4%
Income tax
44.0
337
236
-86.9%
Effective tax rate
6.0%
22.1%
20.3%
Net income
695
1,185
1,293
-41.4%
Net margin
6.8%
14.0%
16.1%
Diluted EPS
$3.35
$5.99
$6.49
-44.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,730
1,746
n/a
-0.9%
Capital expenditure
596
592
522
+0.7%
Free cash flow
1,134
1,154
n/a
-1.7%
Free cash flow margin
11.0%
13.7%
n/a
Cash from investing
-8,318
-948
n/a
Cash from financing
6,190
-807
n/a
Depreciation and amortisation
891
562
546
+58.5%
Share-based compensation
166
113
100
+46.9%
Buybacks
0.0
400
450
Dividends paid
485
421
386
+15.2%
Dividend per share
$2.40
$2.18
$1.98
+10.1%
Diluted shares, weighted
208m
198m
199m
+5.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,164
5,053
5,043
+41.8%
Debt
12,822
3,971
3,970
+222.9%
Other liabilities
6,492
3,360
3,136
+93.2%
Total liabilities and equity
26,478
12,384
12,149
+113.8%
Fixed assets
4,060
3,605
3,476
+12.6%
Goodwill
7,537
1,090
1,109
+591.5%
Cash and equivalents
1,424
1,861
1,890
-23.5%
Receivables
1,618
1,187
1,240
+36.3%
Inventory
1,959
1,495
1,402
+31.0%
Other assets
9,880
3,146
3,032
+214.0%
Total assets
26,478
12,384
12,149
+113.8%
10-K for the year ended 30 September 2015, filed 25 November 2015: the filing.