Total Asset Turnover
since 2005
Calculation
Becton, Dickinson & Co., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Sep 30, 2021 | 0.38 | = | 20,248) | ÷ | 53,866) |
| Sep 30, 2020 | 0.32 | = | 17,117) | ÷ | 54,012) |
| Sep 30, 2019 | 0.33 | = | 17,290) | ÷ | 51,765) |
| Sep 30, 2018 | 0.30 | = | 15,983) | ÷ | 53,904) |
| Sep 30, 2017 | 0.32 | = | 12,093) | ÷ | 37,734) |
| Sep 30, 2016 | 0.49 | = | 12,483) | ÷ | 25,586) |
| Sep 30, 2015 | 0.38 | = | 10,282) | ÷ | 26,820) |
| Sep 30, 2014 | 0.68 | = | 8,446) | ÷ | 12,447) |
| Sep 30, 2013 | 0.66 | = | 8,054) | ÷ | 12,149) |
| Sep 30, 2012 | 0.68 | = | 7,708) | ÷ | 11,361) |
| Sep 30, 2011 | 0.75 | = | 7,829) | ÷ | 10,430) |
| Sep 30, 2010 | 0.76 | = | 7,372) | ÷ | 9,651) |
| Sep 30, 2009 | 0.77 | = | 7,161) | ÷ | 9,305) |
| Sep 30, 2008 | 0.90 | = | 7,156) | ÷ | 7,913) |
| Sep 30, 2007 | 0.87 | = | 6,360) | ÷ | 7,329) |
| Sep 30, 2006 | 0.85 | = | 5,835) | ÷ | 6,825) |
| Sep 30, 2005 | 0.89 | = | 5,415) | ÷ | 6,072) |
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 data reflects a general growth trend in revenues over the analyzed period, increasing from approximately 5.4 billion US dollars in 2005 to over 20 billion US dollars by 2021. This indicates a significant expansion of the company's sales and market reach during these years, with noticeable acceleration in revenue growth in more recent years, particularly between 2013 and 2021.
The total assets have also exhibited a substantial increase, rising from about 6.1 billion US dollars in 2005 to over 53 billion by 2021. This growth in total assets suggests considerable investment and expansion of the company's resource base. There is a marked acceleration in asset accumulation starting from around 2014, which aligns with the revenue growth trend and might indicate acquisitions, capital investments, or asset revaluation.
Despite the increasing revenues and total assets, the total asset turnover ratio has declined over the years. Starting at 0.89 in 2005, it decreased gradually to a low of about 0.30–0.32 in the mid-2010s, with a slight uptick towards 0.38 by 2021. This downward trend implies that the company has been generating fewer sales per unit of asset over time, which could suggest declining efficiency in asset utilization or a shift in business strategy involving more asset-intensive operations.
- Revenues
- Steady growth from 5.4 billion to 20.2 billion US dollars between 2005 and 2021, with accelerated growth after 2013.
- Total assets
- Substantial increase from 6.1 billion to 53.9 billion US dollars, with rapid growth especially from 2014 onwards.
- Total asset turnover
- Decreasing trend from 0.89 in 2005 to around 0.30 in the mid-2010s, slight recovery to 0.38 by 2021, indicating reduced efficiency in asset use relative to revenue generation.
Overall, the data suggests a period of aggressive growth and investment, with revenues and assets expanding significantly. However, the efficiency in generating revenues from assets has diminished, which warrants further analysis to understand the underlying causes, such as changes in asset structure, market conditions, or operational adjustments.
Comparison to Competitors
Becton, Dickinson & Co., total asset turnover, 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. | |
|---|---|---|---|---|---|---|---|
| Sep 30, 2021 | 0.38 | 0.57 | 1.25 | 1.41 | 0.42 | 0.32 | 1.34 |
| Sep 30, 2020 | 0.32 | 0.48 | 1.16 | 1.39 | 0.39 | 0.32 | 1.30 |
| Sep 30, 2019 | 0.33 | 0.47 | 1.15 | 1.33 | 0.46 | 0.34 | 1.38 |
| Sep 30, 2018 | 0.30 | 0.46 | 0.99 | 1.28 | 0.47 | 0.33 | 1.48 |
| Sep 30, 2017 | 0.32 | 0.36 | 1.94 | 1.26 | 0.54 | 0.30 | 1.44 |
| Sep 30, 2016 | 0.49 | 0.40 | 1.88 | 1.29 | 0.42 | 0.29 | 1.50 |
| Sep 30, 2015 | 0.38 | 0.49 | 1.64 | 1.27 | 0.49 | 0.19 | 1.40 |
| Sep 30, 2014 | 0.68 | 0.49 | 1.88 | 1.18 | 0.54 | 0.45 | 1.50 |
| Sep 30, 2013 | 0.66 | 0.51 | 1.77 | 1.18 | 0.57 | 0.48 | 1.49 |
| Sep 30, 2012 | 0.68 | 0.59 | 1.87 | 1.03 | 0.54 | 0.49 | 1.36 |
| Sep 30, 2011 | 0.75 | 0.64 | 1.66 | 1.15 | 0.57 | 0.52 | 1.49 |
| Sep 30, 2010 | 0.76 | 0.59 | 1.55 | 1.15 | 0.59 | 0.56 | 1.48 |
| Sep 30, 2009 | 0.77 | 0.59 | 1.60 | 1.17 | 0.58 | 0.62 | 1.47 |
| Sep 30, 2008 | 0.90 | 0.70 | 1.43 | 1.27 | 0.59 | 0.61 | 1.44 |
| Sep 30, 2007 | 0.87 | 0.65 | 1.39 | 1.15 | 0.58 | 0.63 | 1.46 |
| Sep 30, 2006 | 0.85 | 0.62 | 2.13 | 1.08 | 0.55 | 0.57 | 1.46 |
| Sep 30, 2005 | 0.89 | 0.77 | 2.42 | 0.87 | 0.45 | 0.61 | 1.08 |
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., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Becton, Dickinson & Co. | Health Care Equipment & Services | |
|---|---|---|
| Sep 30, 2021 | 0.38 | 1.09 |
| Sep 30, 2020 | 0.32 | 1.03 |
| Sep 30, 2019 | 0.33 | 1.04 |
| Sep 30, 2018 | 0.30 | 0.98 |
| Sep 30, 2017 | 0.32 | 1.10 |
| Sep 30, 2016 | 0.49 | 1.13 |
| Sep 30, 2015 | 0.38 | 1.03 |
| Sep 30, 2014 | 0.68 | 1.25 |
| Sep 30, 2013 | 0.66 | 1.22 |
| Sep 30, 2012 | 0.68 | 1.14 |
| Sep 30, 2011 | 0.75 | 1.17 |
| Sep 30, 2010 | 0.76 | 1.13 |
| Sep 30, 2009 | 0.77 | 1.17 |
| Sep 30, 2008 | 0.90 | 1.18 |
| Sep 30, 2007 | 0.87 | 1.15 |
| Sep 30, 2006 | 0.85 | 1.16 |
| Sep 30, 2005 | 0.89 | 1.03 |
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., total asset turnover, long-term trends, comparison to industry (health care)
| Becton, Dickinson & Co. | Health Care | |
|---|---|---|
| Sep 30, 2021 | 0.38 | 0.70 |
| Sep 30, 2020 | 0.32 | 0.64 |
| Sep 30, 2019 | 0.33 | 0.65 |
| Sep 30, 2018 | 0.30 | 0.68 |
| Sep 30, 2017 | 0.32 | 0.66 |
| Sep 30, 2016 | 0.49 | 0.67 |
| Sep 30, 2015 | 0.38 | 0.64 |
| Sep 30, 2014 | 0.68 | 0.69 |
| Sep 30, 2013 | 0.66 | 0.67 |
| Sep 30, 2012 | 0.68 | 0.67 |
| Sep 30, 2011 | 0.75 | 0.69 |
| Sep 30, 2010 | 0.76 | 0.68 |
| Sep 30, 2009 | 0.77 | 0.63 |
| Sep 30, 2008 | 0.90 | 0.80 |
| Sep 30, 2007 | 0.87 | 0.77 |
| Sep 30, 2006 | 0.85 | 0.74 |
| Sep 30, 2005 | 0.89 | 0.72 |
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).