Current Ratio
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Becton, Dickinson & Co. pages available for free this week:
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Calculation
Becton, Dickinson & Co., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Sep 30, 2021 | = | ÷ | |||
| Sep 30, 2020 | = | ÷ | |||
| Sep 30, 2019 | = | ÷ | |||
| Sep 30, 2018 | = | ÷ | |||
| Sep 30, 2017 | = | ÷ | |||
| Sep 30, 2016 | = | ÷ | |||
| Sep 30, 2015 | = | ÷ | |||
| Sep 30, 2014 | = | ÷ | |||
| Sep 30, 2013 | = | ÷ | |||
| Sep 30, 2012 | = | ÷ | |||
| Sep 30, 2011 | = | ÷ | |||
| Sep 30, 2010 | = | ÷ | |||
| Sep 30, 2009 | = | ÷ | |||
| Sep 30, 2008 | = | ÷ | |||
| Sep 30, 2007 | = | ÷ | |||
| Sep 30, 2006 | = | ÷ | |||
| Sep 30, 2005 | = | ÷ |
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
- Current Assets
- Current assets demonstrated a general upward trend from 2005 to 2012, increasing from 2,975 million US dollars to 5,322 million US dollars. This growth was followed by a relatively stable period until 2016, after which there was a significant spike in 2017, reaching a peak of 18,633 million US dollars. Subsequently, values returned closer to previous levels, ranging between approximately 6,600 and 9,000 million US dollars from 2018 to 2021.
- Current Liabilities
- Current liabilities also showed an increasing trend from 2005 through 2012, rising from 1,299 million US dollars to 1,978 million US dollars. There was notable volatility starting in 2013, with liabilities growing markedly and peaking at 7,216 million US dollars in 2018. Following this peak, the figures declined somewhat but remained elevated relative to the initial years, ending at 6,626 million US dollars in 2021.
- Current Ratio
- The current ratio initially declined from 2.29 in 2005 to a trough of around 1.38 in 2014 and 2015, indicating a weakening in short-term liquidity. However, an exceptional increase occurred in 2017, with the ratio soaring to 5.58, which appears to be an outlier when compared to other years. After this spike, the current ratio reverted to values closer to 1, ranging between 1.03 and 1.54 from 2018 to 2021. This suggests a return to a more normalized liquidity position, although generally lower than earlier years.
- Overall Analysis
- The data reveals an increase in both current assets and current liabilities over the analyzed period, with notable anomalies around 2017 and 2018. The spike in current assets in 2017, along with the simultaneous spike in the current ratio, suggests either a one-time event affecting asset levels or changes in reporting or classification. Despite the fluctuations, the current ratio remained mostly above 1, indicating the company maintained the ability to cover short-term obligations, though the downward trend in this ratio from the mid-2000s to recent years may warrant attention regarding liquidity management. Volatility in liabilities later in the period points to increased short-term obligations, which could affect working capital adequacy if current assets do not proportionally increase.
Comparison to Competitors
Becton, Dickinson & Co., current ratio, long-term trends, comparison to competitors
| Becton, Dickinson & Co. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
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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 | ||
| Sep 30, 2020 | ||
| Sep 30, 2019 | ||
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| Sep 30, 2005 |
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 | ||
| Sep 30, 2020 | ||
| Sep 30, 2019 | ||
| Sep 30, 2018 | ||
| Sep 30, 2017 | ||
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| Sep 30, 2005 |
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).