Net Profit Margin
since 2005
Calculation
Becton, Dickinson & Co., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Sep 30, 2021 | 10.33% | = | 100 | × | 2,092) | ÷ | 20,248) |
| Sep 30, 2020 | 5.11% | = | 100 | × | 874) | ÷ | 17,117) |
| Sep 30, 2019 | 7.13% | = | 100 | × | 1,233) | ÷ | 17,290) |
| Sep 30, 2018 | 1.95% | = | 100 | × | 311) | ÷ | 15,983) |
| Sep 30, 2017 | 9.10% | = | 100 | × | 1,100) | ÷ | 12,093) |
| Sep 30, 2016 | 7.82% | = | 100 | × | 976) | ÷ | 12,483) |
| Sep 30, 2015 | 6.76% | = | 100 | × | 695) | ÷ | 10,282) |
| Sep 30, 2014 | 14.03% | = | 100 | × | 1,185) | ÷ | 8,446) |
| Sep 30, 2013 | 16.05% | = | 100 | × | 1,293) | ÷ | 8,054) |
| Sep 30, 2012 | 15.18% | = | 100 | × | 1,170) | ÷ | 7,708) |
| Sep 30, 2011 | 16.23% | = | 100 | × | 1,271) | ÷ | 7,829) |
| Sep 30, 2010 | 17.87% | = | 100 | × | 1,318) | ÷ | 7,372) |
| Sep 30, 2009 | 17.20% | = | 100 | × | 1,232) | ÷ | 7,161) |
| Sep 30, 2008 | 15.75% | = | 100 | × | 1,127) | ÷ | 7,156) |
| Sep 30, 2007 | 13.99% | = | 100 | × | 890) | ÷ | 6,360) |
| Sep 30, 2006 | 12.89% | = | 100 | × | 752) | ÷ | 5,835) |
| Sep 30, 2005 | 13.34% | = | 100 | × | 722) | ÷ | 5,415) |
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 financial performance from 2005 to 2021 is characterized by consistent revenue expansion coupled with significant volatility in net profit margins. While revenues grew steadily from 5.4 billion USD in 2005 to over 20.2 billion USD by 2021, net profit margins did not follow a linear trajectory, reflecting periods of operational efficiency followed by sharp contractions.
- Early Growth and Peak Profitability (2005–2010)
- A positive trend in profitability is observed during this period, with the net profit margin increasing from 13.34% in 2005 to a peak of 17.87% in 2010. This growth coincided with a steady rise in both net income and revenue, indicating strong operational leverage and effective cost management.
- Mid-Term Decline and Instability (2011–2020)
- Beginning in 2011, a general downward trend in margins emerged, punctuated by severe contractions. A notable decline occurred in 2015, where the margin dropped to 6.76%. The most significant compression occurred in 2018, with the net profit margin falling to a period low of 1.95%, despite revenues increasing to 15.98 billion USD. This divergence indicates that net income was severely impacted by factors unrelated to top-line growth, such as substantial non-operating expenses or one-time charges.
- Recent Recovery and Revenue Scaling (2021)
- A strong recovery is evident in 2021, with the net profit margin rebounding to 10.33%. This improvement was driven by a substantial increase in net income to 2.09 billion USD, the highest in the analyzed period, occurring alongside record revenues of 20.25 billion USD.
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Comparison to Competitors
Becton, Dickinson & Co., net profit margin, 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 | 10.33% | 16.42% | 4.46% | 29.85% | 11.97% | 6.06% |
| Sep 30, 2020 | 5.11% | 12.99% | 3.78% | 24.33% | 16.56% | 6.03% |
| Sep 30, 2019 | 7.13% | 11.56% | 4.66% | 30.80% | 15.16% | 5.76% |
| Sep 30, 2018 | 1.95% | 7.74% | 4.11% | 30.29% | 10.36% | 5.33% |
| Sep 30, 2017 | 9.10% | 1.74% | 4.31% | 21.09% | 13.56% | 5.28% |
| Sep 30, 2016 | 7.82% | 6.71% | 2.93% | 27.21% | 12.27% | 3.81% |
| Sep 30, 2015 | 6.76% | 21.68% | 3.27% | 24.69% | 13.20% | 3.72% |
| Sep 30, 2014 | 14.03% | 11.28% | 3.52% | 19.65% | 18.02% | 4.33% |
| Sep 30, 2013 | 16.05% | 11.79% | 3.55% | 29.62% | 20.90% | 4.62% |
| Sep 30, 2012 | 15.18% | 14.95% | 4.37% | 30.14% | 22.35% | 5.03% |
| Sep 30, 2011 | 16.23% | 12.17% | 4.42% | 28.17% | 19.43% | 5.08% |
| Sep 30, 2010 | 17.87% | 13.15% | 4.99% | 27.02% | 19.59% | 4.95% |
| Sep 30, 2009 | 17.20% | 18.68% | 7.80% | 22.11% | 14.86% | 4.42% |
| Sep 30, 2008 | 15.75% | 16.53% | 4.04% | 23.35% | 16.51% | 3.70% |
| Sep 30, 2007 | 13.99% | 13.92% | 5.56% | 24.06% | 22.78% | 6.26% |
| Sep 30, 2006 | 12.89% | 7.64% | 5.52% | 19.33% | 22.55% | 5.89% |
| Sep 30, 2005 | 13.34% | 15.10% | 5.53% | 41.41% | 17.94% | 7.36% |
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., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Becton, Dickinson & Co. | Health Care Equipment & Services | |
|---|---|---|
| Sep 30, 2021 | 10.33% | 7.14% |
| Sep 30, 2020 | 5.11% | 6.82% |
| Sep 30, 2019 | 7.13% | 6.91% |
| Sep 30, 2018 | 1.95% | 5.87% |
| Sep 30, 2017 | 9.10% | 5.60% |
| Sep 30, 2016 | 7.82% | 4.73% |
| Sep 30, 2015 | 6.76% | 5.78% |
| Sep 30, 2014 | 14.03% | 5.76% |
| Sep 30, 2013 | 16.05% | 6.37% |
| Sep 30, 2012 | 15.18% | 8.05% |
| Sep 30, 2011 | 16.23% | 7.40% |
| Sep 30, 2010 | 17.87% | 7.67% |
| Sep 30, 2009 | 17.20% | 8.63% |
| Sep 30, 2008 | 15.75% | 6.88% |
| Sep 30, 2007 | 13.99% | 8.40% |
| Sep 30, 2006 | 12.89% | 7.20% |
| Sep 30, 2005 | 13.34% | 9.04% |
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., net profit margin, long-term trends, comparison to industry (health care)
| Becton, Dickinson & Co. | Health Care | |
|---|---|---|
| Sep 30, 2021 | 10.33% | 15.24% |
| Sep 30, 2020 | 5.11% | 10.27% |
| Sep 30, 2019 | 7.13% | 14.56% |
| Sep 30, 2018 | 1.95% | 12.61% |
| Sep 30, 2017 | 9.10% | 9.26% |
| Sep 30, 2016 | 7.82% | 12.80% |
| Sep 30, 2015 | 6.76% | 13.94% |
| Sep 30, 2014 | 14.03% | 14.40% |
| Sep 30, 2013 | 16.05% | 15.04% |
| Sep 30, 2012 | 15.18% | 13.92% |
| Sep 30, 2011 | 16.23% | 12.06% |
| Sep 30, 2010 | 17.87% | 11.90% |
| Sep 30, 2009 | 17.20% | 17.77% |
| Sep 30, 2008 | 15.75% | 13.00% |
| Sep 30, 2007 | 13.99% | 12.52% |
| Sep 30, 2006 | 12.89% | 15.30% |
| Sep 30, 2005 | 13.34% | 14.61% |
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).