Becton Dickinson (BDX) FY2016 results: revenue $12.5 billion, up 21.4% on the year
Becton Dickinson & Co. (BDX) reported revenue of $12.5 billion for fiscal 2016, the year ended 30 September 2016, up 21.4% on the year before. Net income was $976 million, up 40.4%, and diluted earnings per share $4.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2018.
Revenue
$12.5 billion
+21.4% on the year
FY2009FY2016
Operating margin
11.5%
10.4% a year earlier
FY2009FY2016
Net income
$976 million
+40.4% on the year
FY2009FY2016
Diluted EPS
$4.49
+34.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
12,483
10,282
8,446
+21.4%
Cost of revenue
6,492
5,587
4,145
+16.2%
Gross profit
5,991
4,695
4,301
+27.6%
Gross margin
48.0%
45.7%
50.9%
Research and development
828
632
550
+31.0%
Selling, general and administrative
3,005
2,563
2,145
+17.2%
Operating income
1,430
1,074
1,606
+33.1%
Operating margin
11.5%
10.4%
19.0%
Interest expense
388
371
135
+4.6%
Pre-tax income
1,074
739
1,522
+45.3%
Income tax
97.0
44.0
337
+120.5%
Effective tax rate
9.0%
6.0%
22.1%
Net income
976
695
1,185
+40.4%
Net margin
7.8%
6.8%
14.0%
Diluted EPS
$4.49
$3.35
$5.99
+34.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,559
1,730
1,746
+47.9%
Capital expenditure
693
596
592
+16.3%
Free cash flow
1,866
1,134
1,154
+64.6%
Free cash flow margin
14.9%
11.0%
13.7%
Cash from investing
-669
-8,318
-948
Cash from financing
-1,761
6,190
-807
Depreciation and amortisation
1,114
891
562
+25.0%
Share-based compensation
196
166
113
+18.1%
Buybacks
0.0
0.0
400
Dividends paid
562
485
421
+15.9%
Dividend per share
$2.64
$2.40
$2.18
+10.0%
Diluted shares, weighted
218m
208m
198m
+4.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,633
7,164
5,053
+6.5%
Debt
11,551
12,822
3,971
-9.9%
Other liabilities
6,402
6,492
3,360
-1.4%
Total liabilities and equity
25,586
26,478
12,384
-3.4%
Fixed assets
3,901
4,060
3,605
-3.9%
Goodwill
7,419
7,537
1,090
-1.6%
Cash and equivalents
1,541
1,424
1,861
+8.2%
Receivables
1,618
1,618
1,187
0.0%
Inventory
1,719
1,959
1,495
-12.3%
Other assets
9,388
9,880
3,146
-5.0%
Total assets
25,586
26,478
12,384
-3.4%
10-K for the year ended 30 September 2016, filed 21 November 2018: the filing.