Stock Analysis on Net
Stock Analysis on Net

Becton, Dickinson & Co. (NYSE:BDX)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 5, 2022.

Common-Size Balance Sheet: Assets

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Becton, Dickinson & Co., common-size consolidated balance sheet: assets

Microsoft Excel
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Cash and equivalents
Restricted cash
Short-term investments
Trade receivables, net
Inventories
Assets held for sale
Prepaid expenses and other
Current assets
Property, plant and equipment, net
Goodwill
Developed technology, net
Customer relationships, net
Other intangibles, net
Intangible assets, net
Other assets
Noncurrent assets
Total assets

Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).

Cash and equivalents
The proportion of cash and equivalents relative to total assets experienced significant fluctuation, peaking at 37.58% in 2017 before dropping sharply to around 1-6% in subsequent years. This indicates a major liquidity event or reclassification in 2017, followed by a return to normalized lower levels.
Restricted cash
Restricted cash as a percentage of total assets was not reported until 2018, after which it remained low but gradually increased slightly over the years, from 0.10% in 2019 to 0.20% in 2021, suggesting a minor but steady increase in cash with usage limitations.
Short-term investments
Short-term investments consistently held a very small share of total assets, below 0.11%, and exhibited a gradual decline through the years, indicating limited reliance on these instruments for liquidity.
Trade receivables, net
Trade receivables decreased from 6.32% in 2016 to a low of 4.30% in 2018, then remained relatively stable around 4-5%, suggesting a slight tightening in credit terms or improvements in collection efficiency after 2016.
Inventories
Inventory ratios declined from 6.72% in 2016 to about 4.55% in 2018, then gradually increased through 2021, reaching 5.32%. This reflects some inventory rebuilding or changes in inventory management practices in the later years.
Assets held for sale
Assets held for sale were reported in 2016 and 2018 at low values (2.51% and 0.25%, respectively) but were absent in other years, implying occasional non-recurring asset disposal activities.
Prepaid expenses and other current assets
Prepaid expenses and other current asset ratios decreased from 3.20% in 2016 to a low of 1.65% in 2020, followed by a slight recovery to 1.99% in 2021, indicating a reduction in advance payments or other short-term assets over the period with partial rebound.
Current assets
Current assets exhibited substantial volatility, surging to nearly half of total assets (49.38%) in 2017, then dropping dramatically to approximately 13-17% in subsequent years. The 2017 anomaly may be related to the spike in cash and equivalents noted for that year.
Property, plant, and equipment, net
Investment in property, plant, and equipment showed a declining trend from 15.25% in 2016 to under 10% in 2018, followed by slight recovery peaking near 11.87% in 2021. This suggests an initial asset base reduction followed by gradual reinvestment or capitalization.
Goodwill
Goodwill as a percentage of total assets decreased significantly from 29% in 2016 to 20.04% in 2017, then sharply increased to over 43% from 2018 onward. This pattern points to significant acquisitions or revaluation activities occurring from 2018.
Developed technology, net
Developed technology assets showed a notable increase from 6.57% in 2017 to a peak of 22.60% in 2018, followed by a steady decline to 17.48% by 2021. This likely reflects the capitalization of intangible assets related to product development with subsequent amortization or impairment effects.
Customer relationships, net
Customer relationships intangibles declined consistently from 11.81% in 2016 to 5.23% in 2021, indicating amortization or impairment reducing this asset component over time.
Other intangibles, net
Other intangible assets remained low, just above 1% in the last three periods following a decline from 2.36% in 2016, signaling relatively stable but minor intangible asset categories.
Intangible assets, net
The total intangible asset portfolio dropped from 24.55% in 2016 to 15.62% in 2017, then rebounded to approximately 30% in 2018 and gradually decreased to under 24% in 2021. This overall pattern reflects dynamic intangible asset management, including acquisitions and amortization.
Other assets
Other nonclassified assets declined from 6.32% in 2016 to about 2% in 2018 and 2019, then increased gradually to 3.62% by 2021, evidencing low but variable contributions from miscellaneous asset categories.
Noncurrent assets
Noncurrent assets decreased from 75.12% in 2016 to 50.62% in 2017, then rose sharply to over 83% from 2018 onwards, underscoring a major rebalancing of asset composition during 2017 and sustained high levels of long-term assets afterwards.
Total assets
As expected, total assets consistently sum to 100% across all periods, serving as the basis for percentage allocations of individual asset items.