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Becton Dickinson (BDX) FY2024 results: revenue $20.2 billion, up 4.2% on the year

Becton Dickinson & Co. (BDX) reported revenue of $20.2 billion for fiscal 2024, the year ended 30 September 2024, up 4.2% on the year before. Net income was $1.7 billion, up 14.9%, and diluted earnings per share $5.86. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2024.

Revenue
$20.2 billion
+4.2% on the year
FY2017FY2024
Operating margin
11.9%
10.9% a year earlier
FY2017FY2024
Net income
$1.7 billion
+14.9% on the year
FY2017FY2024
Diluted EPS
$5.86
+18.6% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue20,17819,37218,870+4.2%
Cost of revenue11,05311,20210,393-1.3%
Gross profit9,1258,1708,477+11.7%
Gross margin45.2%42.2%44.9%
Research and development1,1901,2371,256-3.8%
Selling, general and administrative4,8574,7194,709+2.9%
Operating income2,3972,1112,282+13.5%
Operating margin11.9%10.9%12.1%
Interest expense528452398+16.8%
Pre-tax income2,0051,6621,783+20.6%
Income tax300132148+127.3%
Effective tax rate15.0%7.9%8.3%
Net income1,7051,4841,779+14.9%
Net margin8.4%7.7%9.4%
Diluted EPS$5.86$4.94$5.88+18.6%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow3,7982,9892,634+27.1%
Capital expenditure725874973-17.0%
Free cash flow3,0732,1151,661+45.3%
Free cash flow margin15.2%10.9%8.8%
Cash from investing-5,514-716n/a
Cash from financing2,087-1,956n/a
Depreciation and amortisation2,2862,2882,229-0.1%
Share-based compensation247259233-4.6%
Buybacks5000.0500
Dividends paid1,1001,1141,082-1.3%
Dividend per share$3.80$3.64$3.48+4.4%
Diluted shares, weighted291m288m287m+0.9%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity25,89025,79625,282+0.4%
Debt20,11015,87916,065+26.6%
Operating lease liabilities667414384+61.1%
Other liabilities10,61910,69111,203-0.7%
Total liabilities and equity57,28652,78052,934+8.5%
Fixed assets6,8216,5576,012+4.0%
Goodwill26,46524,52224,621+7.9%
Intangible assets10,87110,90112,264-0.3%
Cash and equivalents1,7171,4161,006+21.3%
Receivables3,0332,5342,191+19.7%
Inventory3,8433,2733,224+17.4%
Other assets4,5363,5773,616+26.8%
Total assets57,28652,78052,934+8.5%

10-K for the year ended 30 September 2024, filed 27 November 2024: the filing.