Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Becton, Dickinson & Co., long-term (investment) activity ratios

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Becton, Dickinson & Co.’s net fixed asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Becton, Dickinson & Co.’s total asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Becton, Dickinson & Co.’s equity turnover deteriorated from 2016 to 2017 and from 2017 to 2018.

Becton, Dickinson & Co., net fixed asset turnover calculation, comparison to benchmarks

		Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015	Sep 30, 2014	Sep 30, 2013
	Selected Financial Data (USD $ in millions)
	Revenues
	Property, plant and equipment, net
	Ratio
	Net fixed asset turnover¹
	Benchmarks
	Net Fixed Asset Turnover, Competitors
	Intuitive Surgical Inc.
	Medtronic PLC
	Stryker Corp.
	Thermo Fisher Scientific Inc.
	UnitedHealth Group Inc.
	Net Fixed Asset Turnover, Sector
	Health Care Equipment & Services
	Net Fixed Asset Turnover, Industry
	Health Care

2018 Calculations

¹ Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= hidden ÷ hidden = hidden

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Becton, Dickinson & Co.’s net fixed asset turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level.

Becton, Dickinson & Co., total asset turnover calculation, comparison to benchmarks

		Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015	Sep 30, 2014	Sep 30, 2013
	Selected Financial Data (USD $ in millions)
	Revenues
	Total assets
	Ratio
	Total asset turnover¹
	Benchmarks
	Total Asset Turnover, Competitors
	Intuitive Surgical Inc.
	Medtronic PLC
	Stryker Corp.
	Thermo Fisher Scientific Inc.
	UnitedHealth Group Inc.
	Total Asset Turnover, Sector
	Health Care Equipment & Services
	Total Asset Turnover, Industry
	Health Care

2018 Calculations

¹ Total asset turnover = Revenues ÷ Total assets
= hidden ÷ hidden = hidden

Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Becton, Dickinson & Co.’s total asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.

Becton, Dickinson & Co., equity turnover calculation, comparison to benchmarks

		Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015	Sep 30, 2014	Sep 30, 2013
	Selected Financial Data (USD $ in millions)
	Revenues
	Shareholders’ equity
	Ratio
	Equity turnover¹
	Benchmarks
	Equity Turnover, Competitors
	Intuitive Surgical Inc.
	Medtronic PLC
	Stryker Corp.
	Thermo Fisher Scientific Inc.
	UnitedHealth Group Inc.
	Equity Turnover, Sector
	Health Care Equipment & Services
	Equity Turnover, Industry
	Health Care

2018 Calculations

¹ Equity turnover = Revenues ÷ Shareholders’ equity
= hidden ÷ hidden = hidden

Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Becton, Dickinson & Co.’s equity turnover deteriorated from 2016 to 2017 and from 2017 to 2018.

	Becton, Dickinson & Co.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

Becton, Dickinson & Co. (BDX)

Long-term (Investment) Activity Analysis