Stock Analysis on Net

Becton, Dickinson & Co. (NYSE:BDX)

This company has been moved to the archive! The financial data has not been updated since May 5, 2022.

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel LibreOffice Calc

Short-term Activity Ratios (Summary)

Becton, Dickinson & Co., short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Turnover Ratios
Inventory turnover 3.78 3.48 3.49 3.56 3.38 3.78
Receivables turnover 8.11 7.14 7.37 6.89 6.93 7.72
Payables turnover 6.04 7.04 8.24 7.89 7.72 9.76
Working capital turnover 9.15 5.46 17.14 81.96 0.79 6.35
Average No. Days
Average inventory processing period 97 105 105 103 108 97
Add: Average receivable collection period 45 51 50 53 53 47
Operating cycle 142 156 155 156 161 144
Less: Average payables payment period 60 52 44 46 47 37
Cash conversion cycle 82 104 111 110 114 107

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Becton, Dickinson & Co. inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Becton, Dickinson & Co. receivables turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Becton, Dickinson & Co. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Becton, Dickinson & Co. working capital turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Becton, Dickinson & Co. number of days of receivables outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Becton, Dickinson & Co. operating cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Becton, Dickinson & Co. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Becton, Dickinson & Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.

Inventory Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Cost of products sold 10,821  9,540  9,002  8,721  6,151  6,492 
Inventories 2,866  2,743  2,579  2,451  1,818  1,719 
Short-term Activity Ratio
Inventory turnover1 3.78 3.48 3.49 3.56 3.38 3.78
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 3.59 2.99 3.07 3.35 3.43
Bristol-Myers Squibb Co. 4.74 5.68 1.88 5.48 5.20
CVS Health Corp. 13.52 11.88 12.06 9.91 10.21
Danaher Corp. 4.16 4.28 4.87 4.60 4.42
Intuitive Surgical Inc. 2.98 2.49 2.30 2.74 3.88
Medtronic PLC 2.43 2.23 2.44 2.53 2.78
Inventory Turnover, Sector
Health Care Equipment & Services 17.80 15.74 15.24 15.31 15.51
Inventory Turnover, Industry
Health Care 9.07 8.19 8.29 8.12 7.93

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).

1 2021 Calculation
Inventory turnover = Cost of products sold ÷ Inventories
= 10,821 ÷ 2,866 = 3.78

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Becton, Dickinson & Co. inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Receivables Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Revenues 20,248  17,117  17,290  15,983  12,093  12,483 
Trade receivables, net 2,497  2,398  2,345  2,319  1,744  1,618 
Short-term Activity Ratio
Receivables turnover1 8.11 7.14 7.37 6.89 6.93 7.72
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 6.64 5.40 5.88 5.90 5.22
Bristol-Myers Squibb Co. 5.65 5.72 3.89 4.66 4.43
CVS Health Corp. 11.91 12.32 13.04 11.00 14.02
Danaher Corp. 6.36 5.51 5.61 5.70 5.20
Elevance Health Inc. 20.66 19.72 18.20 19.13 23.20
Intuitive Surgical Inc. 7.30 6.75 6.94 5.46 6.11
Medtronic PLC 5.51 6.22 4.91 5.00 5.31
UnitedHealth Group Inc. 20.07 19.86 20.32 19.75 20.92
Receivables Turnover, Sector
Health Care Equipment & Services 12.16 12.08 11.96 11.41 12.43
Receivables Turnover, Industry
Health Care 8.59 8.56 8.96 8.63 8.90

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).

1 2021 Calculation
Receivables turnover = Revenues ÷ Trade receivables, net
= 20,248 ÷ 2,497 = 8.11

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Becton, Dickinson & Co. receivables turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Payables Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Cost of products sold 10,821  9,540  9,002  8,721  6,151  6,492 
Accounts payable 1,793  1,355  1,092  1,106  797  665 
Short-term Activity Ratio
Payables turnover1 6.04 7.04 8.24 7.89 7.72 9.76
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.21 3.80 4.07 4.27 5.14
Bristol-Myers Squibb Co. 3.37 4.34 3.30 3.46 2.70
CVS Health Corp. 19.14 19.72 20.13 18.27 17.63
Danaher Corp. 4.48 4.79 5.23 5.13 5.39
Elevance Health Inc. 7.59 7.75 9.25 9.65 9.04
Intuitive Surgical Inc. 14.45 18.35 11.08 11.12 11.33
Medtronic PLC 4.98 4.72 4.69 5.56 5.37
UnitedHealth Group Inc. 7.63 7.29 7.21 7.31 7.28
Payables Turnover, Sector
Health Care Equipment & Services 9.28 9.33 9.72 9.39 9.26
Payables Turnover, Industry
Health Care 7.62 7.48 7.79 7.58 7.42

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).

1 2021 Calculation
Payables turnover = Cost of products sold ÷ Accounts payable
= 10,821 ÷ 1,793 = 6.04

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Becton, Dickinson & Co. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

Working Capital Turnover

Becton, Dickinson & Co., working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data (US$ in millions)
Current assets 8,838  8,969  6,664  7,411  18,633  6,367 
Less: Current liabilities 6,626  5,836  5,655  7,216  3,342  4,400 
Working capital 2,212  3,133  1,009  195  15,291  1,967 
 
Revenues 20,248  17,117  17,290  15,983  12,093  12,483 
Short-term Activity Ratio
Working capital turnover1 9.15 5.46 17.14 81.96 0.79 6.35
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 3.87 4.06 6.64 5.44 2.44
Bristol-Myers Squibb Co. 3.95 3.72 2.28 3.32 3.64
CVS Health Corp. 157.15 318.01
Danaher Corp. 8.40 3.48 0.87 8.83 8.91
Elevance Health Inc. 7.23 6.39 6.11 6.91 6.48
Intuitive Surgical Inc. 1.22 0.77 1.23 1.06 1.49
Medtronic PLC 2.15 2.48 2.26 2.32 2.79
UnitedHealth Group Inc.
Working Capital Turnover, Sector
Health Care Equipment & Services 23.09 21.49 14.93 20.43 18.01
Working Capital Turnover, Industry
Health Care 12.07 12.28 7.73 6.82 6.31

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).

1 2021 Calculation
Working capital turnover = Revenues ÷ Working capital
= 20,248 ÷ 2,212 = 9.15

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Becton, Dickinson & Co. working capital turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Average Inventory Processing Period

Becton, Dickinson & Co., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data
Inventory turnover 3.78 3.48 3.49 3.56 3.38 3.78
Short-term Activity Ratio (no. days)
Average inventory processing period1 97 105 105 103 108 97
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 102 122 119 109 107
Bristol-Myers Squibb Co. 77 64 194 67 70
CVS Health Corp. 27 31 30 37 36
Danaher Corp. 88 85 75 79 83
Intuitive Surgical Inc. 122 147 159 133 94
Medtronic PLC 150 164 150 144 131
Average Inventory Processing Period, Sector
Health Care Equipment & Services 21 23 24 24 24
Average Inventory Processing Period, Industry
Health Care 40 45 44 45 46

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).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.78 = 97

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

Becton, Dickinson & Co., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data
Receivables turnover 8.11 7.14 7.37 6.89 6.93 7.72
Short-term Activity Ratio (no. days)
Average receivable collection period1 45 51 50 53 53 47
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 55 68 62 62 70
Bristol-Myers Squibb Co. 65 64 94 78 82
CVS Health Corp. 31 30 28 33 26
Danaher Corp. 57 66 65 64 70
Elevance Health Inc. 18 19 20 19 16
Intuitive Surgical Inc. 50 54 53 67 60
Medtronic PLC 66 59 74 73 69
UnitedHealth Group Inc. 18 18 18 18 17
Average Receivable Collection Period, Sector
Health Care Equipment & Services 30 30 31 32 29
Average Receivable Collection Period, Industry
Health Care 42 43 41 42 41

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).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.11 = 45

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Becton, Dickinson & Co. number of days of receivables outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Operating Cycle

Becton, Dickinson & Co., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data
Average inventory processing period 97 105 105 103 108 97
Average receivable collection period 45 51 50 53 53 47
Short-term Activity Ratio
Operating cycle1 142 156 155 156 161 144
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories 157 190 181 171 177
Bristol-Myers Squibb Co. 142 128 288 145 152
CVS Health Corp. 58 61 58 70 62
Danaher Corp. 145 151 140 143 153
Intuitive Surgical Inc. 172 201 212 200 154
Medtronic PLC 216 223 224 217 200
Operating Cycle, Sector
Health Care Equipment & Services 51 53 55 56 53
Operating Cycle, Industry
Health Care 82 88 85 87 87

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).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 97 + 45 = 142

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Becton, Dickinson & Co. operating cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Average Payables Payment Period

Becton, Dickinson & Co., average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data
Payables turnover 6.04 7.04 8.24 7.89 7.72 9.76
Short-term Activity Ratio (no. days)
Average payables payment period1 60 52 44 46 47 37
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 87 96 90 85 71
Bristol-Myers Squibb Co. 108 84 110 105 135
CVS Health Corp. 19 19 18 20 21
Danaher Corp. 82 76 70 71 68
Elevance Health Inc. 48 47 39 38 40
Intuitive Surgical Inc. 25 20 33 33 32
Medtronic PLC 73 77 78 66 68
UnitedHealth Group Inc. 48 50 51 50 50
Average Payables Payment Period, Sector
Health Care Equipment & Services 39 39 38 39 39
Average Payables Payment Period, Industry
Health Care 48 49 47 48 49

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).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.04 = 60

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Becton, Dickinson & Co. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.

Cash Conversion Cycle

Becton, Dickinson & Co., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Selected Financial Data
Average inventory processing period 97 105 105 103 108 97
Average receivable collection period 45 51 50 53 53 47
Average payables payment period 60 52 44 46 47 37
Short-term Activity Ratio
Cash conversion cycle1 82 104 111 110 114 107
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories 70 94 91 86 106
Bristol-Myers Squibb Co. 34 44 178 40 17
CVS Health Corp. 39 42 40 50 41
Danaher Corp. 63 75 70 72 85
Intuitive Surgical Inc. 147 181 179 167 122
Medtronic PLC 143 146 146 151 132
Cash Conversion Cycle, Sector
Health Care Equipment & Services 12 14 17 17 14
Cash Conversion Cycle, Industry
Health Care 34 39 38 39 38

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).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 97 + 4560 = 82

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Becton, Dickinson & Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.