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Becton, Dickinson and Company (BDX) Fair Value & Analysis

Healthcare · US · Market cap $41.5B

BD Becton, Dickinson and Company logo Becton, Dickinson and Company BDX · US
Price$177.07
Fair Value$103.53
Upside-41.5%
Quality67/100
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Healthy Growth
Thin margins · 5.1% net margin
Moderate debt · generates free cash flow
2.72% dividend yield
Ranks above peers (9/15)
Moderate moat 55/100
Evidence: High Range $77.14 – $132.29 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Share price +13.3% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($132.29). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

$210.15 $125.97 Fair Value $103.53 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range $125.97 – $210.15 · fair‑value band $77.14 – $132.29 · the $177.07 price screens above the $103.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Becton, Dickinson and Company (BDX) currently trades at $177.07, while our model-based Fair Value estimate is $103.53, implying the stock looks roughly 41.5% overvalued today. We read business quality at 67/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Becton, Dickinson and Company generated revenue of $22.2B at a net margin of 5.1%. Revenue grew 5.2% year over year. It earns a return on equity of 6.7%. Net debt stands at $18.3B. Fundamentals as of Jul 15, 2026

Our scenario range runs from $77.14 (bear case) to $132.29 (bull case); at $177.07, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 5% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -42%, BDX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $51.87 $107.92 $188.79 80
Residual Income $74.56 $78.35 $82.24 76
Rev-Margin DCF $30.79 $83.02 $143.79 74
All 26 models by family
DCF Models
FCF DCF $50.15 $113.87 $212.04 38
Owner Earnings $79.68 $160.33 $284.61 31
5Y Revenue Exit $30.79 $82.59 $148.36 39
5Y EBITDA Exit $81.60 $178.32 $291.90 41
5Y P/E Exit $30.86 $82.73 $136.98 38
10Y Revenue Exit $34.11 $83.25 $148.87 36
10Y EBITDA Exit $69.21 $149.98 $259.17 37
10Y P/E Exit $36.77 $83.35 $140.12 35
Earnings-Based
Graham-Dodd $41.41 $133.38 $177.99 54
Lynch FV $29.63 $42.32 $55.02 50
PEG = 1.0 $29.63 $42.32 $55.02 46
EPV $19.33 $32.70 $44.39 59
Dividend Discount
Gordon GGM $39.85 $82.87 $131.46 70
DDM Multi-Stage $39.85 $66.93 $86.97 61
Multiples
P/E Multiple $91.35 $121.80 $152.25 63
P/S Multiple $77.65 $103.53 $129.41 58
P/B Multiple $77.65 $103.53 $129.41 55
EV/EBIT $65.45 $107.55 $149.65 53
EV/EBITDA $117.48 $176.93 $236.37 54
EV/Revenue $24.28 $60.77 $97.26 43
Asset-Based
NCAV (Graham) $46.07 $61.74 $92.15 50
Growth DCF
Growth DCF $51.87 $107.92 $188.79 80
Rev-Margin DCF $30.79 $83.02 $143.79 74
Economic Profit
Residual Income $74.56 $78.35 $82.24 76
ROIC Compounder $19.33 $32.70 $44.39 72
Growth Earnings
Growth-Adj P/E $76.86 $109.81 $142.75 68

Widest divergence: Growth Earnings ($109.81) versus Economic Profit ($32.70). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $22.2B
Revenue growth (YoY) +5.2%
Net margin 5.1%
Return on equity 6.7%
Free cash flow $2.7B FY2025
P/E ratio 26.3
More key figures
Operating margin 14.7%
EPS (TTM) $5.72
Dividend yield 2.7%
EPS growth (YoY) +28.6%
Net debt $18.3B FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 59 · Market factors (momentum, volatility) 73

Profitability 32
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 89
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

Full company description

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. It operates through Medical Essentials, Connected Care, BioPharma Systems, Interventional and Life Sciences segments. It provides peripheral intravenous (IV) and advanced peripheral catheters, central lines, acute dialysis catheters, vascular access technology, vascular care and preparation products, needle-free IV connectors and extensions sets, closed-system drug transfer devices, hazardous drug detections, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, and sharps disposal systems; IV medication safety and infusion therapy delivery systems, medication compounding workflow system, automated medication dispensing and supply management systems, informatics and analytics and pharmacy automation system, and medication inventory optimization and tracking system; hemodynamic monitoring system; and prefillable drug delivery systems. It also offers specimen and blood collection products; automated blood and tuberculosis culturing, molecular testing, and microorganism identification and drug susceptibility, as well as rapid diagnostic assays, microbiology laboratory automation products, and plated media products; and fluorescence-activated cell sorters and analyzers, antibodies and kits, reagent system, and solution for single-cell gene expression analysis, as well as clinical oncology, immunological, and transplantation diagnostic/monitoring reagents and analyzers. It provides hernia and soft tissue repair, biological and bioresorbable graft, biosurgery, and other surgical products; surgical infection prevention, peripheral intervention, and urology and critical care products. The company has a strategic collaboration with ChemoGLO for the advancement of hazardous drug contamination testing in health care

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Becton, Dickinson and Company reported revenue of $21.8B in FY2025 versus $19.1B in FY2021, a compound +3.4%/yr. Reported net income was $1.7B in FY2025, compounding −5.4%/yr from FY2021.

Growth Quality 72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$21.8B
Latest YoY
+8.2%
Avg. growth/yr (3Y)
+5.0%
Avg. growth/yr (5Y)
+6.3%
Avg. growth/yr (40Y)
+7.7%
Revenue +3.4%/yr
FY21 $19.1B
FY22 $18.9B
FY23 $19.4B
FY24 $20.2B
FY25 $21.8B
Net income −5.4%/yr
FY21 $2.1B
FY22 $1.8B
FY23 $1.5B
FY24 $1.7B
FY25 $1.7B

BDX screens 42% overvalued. Compare with Intuitive Surgical, Inc →

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Cite: Fair Value Calculator (2026). "Becton, Dickinson and Company Fair Value". https://www.fairvalue-calculator.com/stock/BDX

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Medical Instruments & Supplies · 204 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 15% · Above median
Revenue growth 5% · Below median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.69× · Higher than 75% of peers

Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper

P/E (TTM) 26.3× · Pricier than median
P/B 1.63× · Cheaper than median
P/S (TTM) 1.87× · Cheaper than median
P/FCF 15.5× · Pricier than median
EV/EBITDA 9.5× · Cheaper than median
PEG 1.11× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 26 · sector 26
PAST 27 · sector 25
HEALTH 65 · sector 96
DIVIDEND 54 · sector 32

VALUE 0: the price sits above our fair-value range.

Insider activity: 44/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Intuitive Surgical, Inc ISRG $402.33 $150.04 -63%
EssilorLuxottica Société anonyme 1EL €175.00 €70.52 -60%
Medline Inc MDLN $41.11 $30.15 -27%
Alcon Inc ALC $70.26 $39.78 -43%
ResMed Inc RMD $203.87 $187.89 -8%
West Pharmaceutical Services, Inc WST $353.71 $143.97 -59%
Straumann Holding STMN CHF 106.00 CHF 47.31 -55%
Sartorius Stedim Biotech S.A DIM €188.50 €51.16 -73%
Coloplast A/S COLOB kr 414.00 kr 382.22 -8%
Solventum Corporation SOLV $81.31 $117.08 +44%

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Frequently asked questions

Is Becton, Dickinson and Company (BDX) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $103.53 versus a price of $177.07, about −42% (overvalued).
What is the fair value of BDX?
Our model-based fair value for Becton, Dickinson and Company is $103.53 (as of Jul 15, 2026), built from audited fundamentals. The current price is $177.07.
What is the quality score of BDX?
Becton, Dickinson and Company has a Quality Score of 67/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Becton, Dickinson and Company (BDX)?
Becton, Dickinson and Company reported trailing-twelve-month revenue of about $22.2B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of BDX?
The net profit margin of Becton, Dickinson and Company is about 5.1%, meaning it keeps roughly 5.1% of revenue as net income. Based on the latest reported figures.
Does Becton, Dickinson and Company pay a dividend?
Becton, Dickinson and Company currently shows a dividend yield of about 2.87% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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