Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Becton, Dickinson & Co. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Becton, Dickinson & Co., consolidated income statement (quarterly data)
US$ in millions
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).
- Revenue Trends
- Revenues exhibited a generally increasing trend from December 2015 to March 2022, with fluctuations reflecting periodic declines followed by strong recoveries. Notable growth occurred around early 2018, where revenues jumped significantly compared to previous years, peaking in March 2021 at 5,315 million USD. Despite some decreases in late 2019 and mid-2020, the overall trajectory shows expansion in top-line performance.
- Cost of Products Sold
- Costs closely mirrored revenue patterns, increasing in absolute terms over the period but at times showing relative fluctuations. There were spikes in costs corresponding to revenue increases, notably in early 2018 and 2021. However, the cost increases sometimes outpaced revenue gains, which could impact profitability.
- Gross Profit
- Gross profit generally rose over time, reflecting the increase in revenues despite rising costs. A significant improvement was noted in early 2018, where gross profit crossed 2,000 million USD and remained elevated through subsequent quarters. However, some declines occurred in late 2019 and mid-2020, corresponding to cost surges and revenue softness.
- Selling and Administrative Expenses
- These expenses remained relatively stable with a slow upward trend but showed notable increases during periods of higher revenue such as early 2018 and 2021. The expense levels fluctuate within a narrow range, suggesting controlled operating expense growth relative to sales.
- Research and Development Expense
- Research and development spending demonstrated a steady increase over the time frame, from amounts near 180-190 million USD early in the data to highs approaching 340 million USD by 2021-2022. This steady investment indicates a consistent focus on product and technology development.
- Acquisition-related, Integration, and Restructuring Expenses
- These expenses display volatility with several spikes occurring in late 2016, late 2017, and mid-2019, reaching values above 100 million USD in some quarters. The presence of these costs suggests periodic restructuring or integration activities influencing operating results.
- Operating Income
- Operating income showed significant fluctuations, including both strong positive results and quarterly losses. Peaks occurred in early 2018 and early 2021, exceeding 1,200 million USD, indicating periods of enhanced operational efficiency or revenue boost. In contrast, some quarters recorded negative operating income, reflecting challenges in cost control or extraordinary expenses.
- Interest Expense and Income
- Interest expense remained relatively stable, mostly decreasing slightly from near 100 million USD in early periods to around 100 million USD in recent quarters. Interest income was minor and fairly steady, typically below 50 million USD but with occasional spikes in mid-2017.
- Other Income (Expense), Net
- This line item is highly volatile with occasional significant positive and negative values. For example, a notable gain was recorded in early 2018 followed by losses in some later quarters, indicating the impact of non-operational or one-time financial items affecting overall income.
- Income Before Taxes
- This metric exhibited wide variation, peaking in early 2018 and 2021 but also registering near zero or negative values during several quarters, reflecting the variability seen in operating income and other financial components.
- Income Tax Provision (Benefit)
- Tax provisions fluctuated considerably, with periods of tax benefits in some quarters offsetting large tax provisions in others. This pattern may reflect changes in taxable income, tax strategies, or adjustments related to unusual items.
- Net Income Applicable to Common Shareholders
- Net income showed high variability, with strong profits in some periods, such as early 2018 and 2021, reaching up to nearly 1,000 million USD, while other quarters experienced losses or low income. The pattern aligns with the variability in operating income and tax impacts, indicating periods of strong earnings growth alongside episodes of financial challenge.