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
Quarterly Data

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Becton, Dickinson & Co., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015
Cash and equivalents
Restricted cash
Short-term investments
Trade receivables, net
Materials
Work in process
Finished products
Inventories
Assets held for sale
Prepaid expenses and other
Current assets
Property, plant and equipment
Allowances for depreciation and amortization
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-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31).

The analysis of the quarterly financial data reveals several notable trends and patterns across different asset categories as a percentage of total assets.

Cash and equivalents
Cash and equivalents as a percentage of total assets showed significant volatility, with a marked spike in mid-2017 reaching above 37%, followed by a sharp decline in subsequent quarters to around 1-2%. Starting from early 2020, this item demonstrated a gradual increase again, ranging between approximately 4% and 7%, suggesting fluctuations in liquidity management over the period.
Restricted cash
Restricted cash values appeared only starting late 2017 at low levels (around 0.1%-0.3%) and displayed a moderate upward trend through 2022, reaching up to 0.36%, indicating a small but gradually rising portion of cash subject to restrictions.
Short-term investments
Short-term investments were minimal throughout the period, generally under 0.1% of total assets, showing minor fluctuations without a clear trend. This suggests a limited focus on short-term securities.
Trade receivables, net
Trade receivables remained relatively stable but showed a slight downward trend overall, decreasing from around 6% to roughly 4-4.5% by the latest periods, potentially reflecting improved collections or changes in sales patterns.
Inventories (Materials, Work in process, Finished products, and Total Inventories)
Inventory components consistently accounted for less than 8% of total assets. Materials and work in process held relatively steady with marginal growth in recent years, while finished products fluctuated around 3-5%. Total inventories showed a slight decline from over 7% in early periods to about 5-6%, indicating moderate inventory management efficiency or changes in operational cycle.
Assets held for sale
This category appears sporadically with low percentages around 2.3% in early 2016 and negligible values thereafter, suggesting minimal impact on asset composition.
Prepaid expenses and other current assets
Prepaid expenses and other current assets fluctuated slightly but generally declined from around 2-4% down to approximately 2% in later years, indicating a minor shift in prepayments or other current asset balances.
Current assets
Current assets showed considerable fluctuation, particularly a notable peak near 49% in mid-2017 followed by a drastic drop to around 13-18% in the later years, reflecting a significant reclassification or a one-time event increasing current asset levels temporarily.
Property, plant and equipment (PP&E) and related depreciation
Net PP&E as a percentage of total assets trended downward from about 15% to around 10-12%, with accumulated depreciation rising steadily in absolute terms but declining slightly in relative terms, indicating aging assets or slower new investment in fixed assets relative to total assets.
Goodwill
Goodwill as a percentage of total assets varied significantly, with a large decrease around mid-2017 (about 20%) and then surged to over 40% in subsequent years, maintaining high levels around 43-45%. This suggests notable impairment, acquisitions, or reclassifications affecting goodwill during the mid-2017 period followed by stabilization at higher levels.
Intangible assets (Developed technology, Customer relationships, Other intangibles)
Total intangible assets showed a decline over time from about 26% to 22%, with developed technology shrinking more markedly from over 11% to around 16-18%, and customer relationships showing a steady decrease from about 12% to under 5%. Other intangibles remained marginal and stable around 1%. Overall, this points to amortization or write-downs impacting intangibles, particularly customer relationships and developed technology.
Other assets
Other assets stayed relatively stable between 2% and 4% of total assets, showing minor fluctuations without a distinct trend.
Noncurrent assets
Noncurrent assets consistently represented the majority of total assets, fluctuating between approximately 74% and 87%, with a general increasing trend after mid-2017. This underlines the firm’s substantial investment in long-term assets.

In summary, the financial data indicate a company with significant proportions of goodwill and intangible assets within its asset base, alongside predominant investments in noncurrent assets. The marked fluctuations in cash and current assets around mid-2017 suggest possible one-time events or changes in financial strategy. Meanwhile, sustained decreases in certain intangible categories and net PP&E may reflect amortization, asset aging, or divestitures. Inventory and receivables proportions remained relatively stable with minor improvements in turnover-related categories.