Current Ratio
since 2005
Calculation
Becton, Dickinson & Co., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Sep 30, 2021 | 1.33 | = | 8,838) | ÷ | 6,626) |
| Sep 30, 2020 | 1.54 | = | 8,969) | ÷ | 5,836) |
| Sep 30, 2019 | 1.18 | = | 6,664) | ÷ | 5,655) |
| Sep 30, 2018 | 1.03 | = | 7,411) | ÷ | 7,216) |
| Sep 30, 2017 | 5.58 | = | 18,633) | ÷ | 3,342) |
| Sep 30, 2016 | 1.45 | = | 6,367) | ÷ | 4,400) |
| Sep 30, 2015 | 1.38 | = | 6,045) | ÷ | 4,386) |
| Sep 30, 2014 | 2.74 | = | 6,131) | ÷ | 2,235) |
| Sep 30, 2013 | 2.76 | = | 5,873) | ÷ | 2,130) |
| Sep 30, 2012 | 2.69 | = | 5,322) | ÷ | 1,978) |
| Sep 30, 2011 | 2.56 | = | 4,668) | ÷ | 1,823) |
| Sep 30, 2010 | 2.70 | = | 4,505) | ÷ | 1,672) |
| Sep 30, 2009 | 2.61 | = | 4,647) | ÷ | 1,777) |
| Sep 30, 2008 | 2.55 | = | 3,615) | ÷ | 1,417) |
| Sep 30, 2007 | 2.12 | = | 3,131) | ÷ | 1,479) |
| Sep 30, 2006 | 2.02 | = | 3,185) | ÷ | 1,576) |
| Sep 30, 2005 | 2.29 | = | 2,975) | ÷ | 1,299) |
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), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in millions
The organization's short-term liquidity position has transitioned from a conservative profile characterized by high coverage to a more lean operational structure over the analyzed seventeen-year period. While both current assets and current liabilities have increased in absolute terms, the relationship between them has shifted, resulting in a lower overall current ratio in recent years compared to the historical baseline.
- Liquidity Stability (2005–2014)
- During this initial period, the current ratio remained consistently strong, fluctuating between 2.02 and 2.76. Current assets grew steadily from 2,975 million US$ to 6,131 million US$, while current liabilities increased at a slower pace, from 1,299 million US$ to 2,235 million US$. This phase reflects a highly liquid position with a significant cushion to meet short-term obligations.
- Period of Volatility (2015–2017)
- A marked shift in the liquidity profile occurred in 2015, as the current ratio dropped to 1.38, driven by a substantial increase in current liabilities to 4,386 million US$. A significant anomaly is observed in 2017, where current assets spiked to 18,633 million US$, causing the current ratio to surge to an outlier peak of 5.58. This suggests a temporary and substantial influx of short-term assets.
- Modern Liquidity Trend (2018–2021)
- In the final phase, the current ratio stabilized at levels significantly lower than the 2005–2014 average, ranging from 1.03 to 1.54. The lowest ratio of 1.03 was recorded in 2018, coinciding with a peak in current liabilities of 7,216 million US$. By 2021, the current ratio stood at 1.33, indicating a strategic shift toward a leaner working capital management approach where current assets of 8,838 million US$ more closely track current liabilities of 6,626 million US$.
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Comparison to Competitors
Becton, Dickinson & Co., current ratio, long-term trends, comparison to competitors
| Becton, Dickinson & Co. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Sep 30, 2021 | 1.33 | 1.85 | 1.47 | 5.08 | 2.65 | 0.79 |
| Sep 30, 2020 | 1.54 | 1.72 | 1.55 | 6.86 | 2.13 | 0.74 |
| Sep 30, 2019 | 1.18 | 1.44 | 1.65 | 4.53 | 2.59 | 0.69 |
| Sep 30, 2018 | 1.03 | 1.62 | 1.56 | 5.28 | 2.28 | 0.73 |
| Sep 30, 2017 | 5.58 | 2.26 | 1.55 | 3.99 | 1.75 | 0.73 |
| Sep 30, 2016 | 1.45 | 4.02 | 1.61 | 5.45 | 3.29 | 0.69 |
| Sep 30, 2015 | 1.38 | 1.54 | 1.62 | 4.46 | 3.36 | 0.74 |
| Sep 30, 2014 | 2.74 | 1.45 | 1.72 | 3.69 | 3.82 | 0.77 |
| Sep 30, 2013 | 2.76 | 2.02 | 1.82 | 5.07 | 4.57 | 0.73 |
| Sep 30, 2012 | 2.69 | 2.36 | 1.78 | 4.71 | 1.62 | 0.78 |
| Sep 30, 2011 | 2.56 | 1.54 | 1.71 | 4.57 | 1.93 | 0.85 |
| Sep 30, 2010 | 2.70 | 1.29 | 1.87 | 4.66 | 1.92 | 0.78 |
| Sep 30, 2009 | 2.61 | 1.79 | 1.91 | 4.18 | 2.37 | 0.82 |
| Sep 30, 2008 | 2.55 | 1.47 | 0.81 | 4.28 | 2.07 | 0.76 |
| Sep 30, 2007 | 2.12 | 1.54 | 0.91 | 4.63 | 3.09 | 0.84 |
| Sep 30, 2006 | 2.02 | 0.94 | 0.77 | 4.64 | 2.36 | 0.87 |
| Sep 30, 2005 | 2.29 | 1.54 | 1.75 | 3.60 | 2.20 | 0.64 |
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), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Health Care Equipment & Services)
Becton, Dickinson & Co., current ratio, long-term trends, comparison to sector (health care equipment & services)
| Becton, Dickinson & Co. | Health Care Equipment & Services | |
|---|---|---|
| Sep 30, 2021 | 1.33 | 1.22 |
| Sep 30, 2020 | 1.54 | 1.19 |
| Sep 30, 2019 | 1.18 | 1.17 |
| Sep 30, 2018 | 1.03 | 1.21 |
| Sep 30, 2017 | 5.58 | 1.24 |
| Sep 30, 2016 | 1.45 | 1.43 |
| Sep 30, 2015 | 1.38 | 1.36 |
| Sep 30, 2014 | 2.74 | 1.43 |
| Sep 30, 2013 | 2.76 | 1.54 |
| Sep 30, 2012 | 2.69 | 1.47 |
| Sep 30, 2011 | 2.56 | 1.36 |
| Sep 30, 2010 | 2.70 | 1.29 |
| Sep 30, 2009 | 2.61 | 1.46 |
| Sep 30, 2008 | 2.55 | 1.04 |
| Sep 30, 2007 | 2.12 | 1.14 |
| Sep 30, 2006 | 2.02 | 0.99 |
| Sep 30, 2005 | 2.29 | 1.31 |
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), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Health Care)
Becton, Dickinson & Co., current ratio, long-term trends, comparison to industry (health care)
| Becton, Dickinson & Co. | Health Care | |
|---|---|---|
| Sep 30, 2021 | 1.33 | 1.31 |
| Sep 30, 2020 | 1.54 | 1.30 |
| Sep 30, 2019 | 1.18 | 1.48 |
| Sep 30, 2018 | 1.03 | 1.52 |
| Sep 30, 2017 | 5.58 | 1.55 |
| Sep 30, 2016 | 1.45 | 1.73 |
| Sep 30, 2015 | 1.38 | 1.70 |
| Sep 30, 2014 | 2.74 | 1.92 |
| Sep 30, 2013 | 2.76 | 1.96 |
| Sep 30, 2012 | 2.69 | 1.84 |
| Sep 30, 2011 | 2.56 | 1.94 |
| Sep 30, 2010 | 2.70 | 1.81 |
| Sep 30, 2009 | 2.61 | 1.78 |
| Sep 30, 2008 | 2.55 | 1.44 |
| Sep 30, 2007 | 2.12 | 1.53 |
| Sep 30, 2006 | 2.02 | 1.39 |
| Sep 30, 2005 | 2.29 | 1.63 |
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), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).