Becton Dickinson (BDX) FY2017 results: revenue $12.1 billion, down 3.1% on the year
Becton Dickinson & Co. (BDX) reported revenue of $12.1 billion for fiscal 2017, the year ended 30 September 2017, down 3.1% on the year before. Net income was $1.1 billion, up 12.7%, and diluted earnings per share $4.60. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2018.
Revenue
$12.1 billion
-3.1% on the year
FY2010FY2017
Operating margin
12.6%
11.5% a year earlier
FY2010FY2017
Net income
$1.1 billion
+12.7% on the year
FY2010FY2017
Diluted EPS
$4.60
+2.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
12,093
12,483
10,282
-3.1%
Cost of revenue
6,128
6,492
5,587
-5.6%
Gross profit
5,942
5,991
4,695
-0.8%
Gross margin
49.1%
48.0%
45.7%
Research and development
770
828
632
-7.0%
Selling, general and administrative
2,909
3,005
2,563
-3.2%
Operating income
1,522
1,430
1,074
+6.4%
Operating margin
12.6%
11.5%
10.4%
Interest expense
521
388
371
+34.3%
Pre-tax income
976
1,074
739
-9.1%
Income tax
-124
97.0
44.0
Effective tax rate
-12.7%
9.0%
6.0%
Net income
1,100
976
695
+12.7%
Net margin
9.1%
7.8%
6.8%
Diluted EPS
$4.60
$4.49
$3.35
+2.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,550
2,559
1,730
-0.4%
Capital expenditure
727
693
596
+4.9%
Free cash flow
1,823
1,866
1,134
-2.3%
Free cash flow margin
15.1%
14.9%
11.0%
Cash from investing
-883
-669
-8,318
Cash from financing
10,977
-1,761
6,190
Depreciation and amortisation
1,088
1,114
891
-2.3%
Share-based compensation
174
196
166
-11.2%
Buybacks
220
0.0
0.0
Dividends paid
677
562
485
+20.5%
Dividend per share
$2.92
$2.64
$2.40
+10.6%
Diluted shares, weighted
224m
218m
208m
+2.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
12,948
7,633
7,164
+69.6%
Debt
18,870
11,551
12,822
+63.4%
Other liabilities
5,916
6,402
6,492
-7.6%
Total liabilities and equity
37,734
25,586
26,478
+47.5%
Fixed assets
4,638
3,901
4,060
+18.9%
Goodwill
7,563
7,419
7,537
+1.9%
Cash and equivalents
14,179
1,541
1,424
+820.1%
Receivables
1,744
1,618
1,618
+7.8%
Inventory
1,818
1,719
1,959
+5.8%
Other assets
7,792
9,388
9,880
-17.0%
Total assets
37,734
25,586
26,478
+47.5%
10-K for the year ended 30 September 2017, filed 21 November 2018: the filing.