Microsoft Excel LibreOffice Calc

Becton, Dickinson & Co. (BDX)

Short-term (Operating) Activity Analysis
Quarterly Data

Difficulty: Beginner

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

Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Turnover Ratios
Inventory turnover 3.72 3.56 3.13 2.87 2.09 3.38 3.40 3.63 3.77 3.78 3.51 3.65 3.10 2.85 2.50 1.82 2.76 2.77 2.61 2.65 2.71 2.77 – – –
Receivables turnover 7.70 6.89 6.57 5.89 6.13 6.93 6.95 7.85 8.18 7.72 7.61 7.77 7.41 6.35 5.73 5.38 8.23 7.12 6.93 7.29 7.34 6.50 – – –
Working capital turnover – 81.96 10.39 4.38 4.63 0.79 0.81 14.11 20.13 6.35 5.32 5.48 10.09 6.20 5.28 3.39 0.85 2.17 2.11 2.10 2.18 2.15 – – –
Average No. of Days
Average inventory processing period 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132 140 138 135 132 – – –
Add: Average receivable collection period 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51 53 50 50 56 – – –
Operating cycle 145 156 173 189 234 161 160 147 142 144 152 147 167 185 210 268 176 183 193 188 185 188 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Becton, Dickinson & Co.’s inventory turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Receivables turnover An activity ratio equal to revenue divided by receivables. Becton, Dickinson & Co.’s receivables turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Becton, Dickinson & Co.’s working capital turnover improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.
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. Becton, Dickinson & Co.’s average inventory processing period improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Becton, Dickinson & Co.’s average receivable collection period improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Becton, Dickinson & Co.’s operating cycle improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Inventory Turnover

Becton, Dickinson & Co., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data (USD $ in millions)
Cost of products sold 2,187  2,312  2,261  2,618  1,530  1,613  1,531  1,537  1,470  1,679  1,651  1,584  1,578  1,630  1,946  1,005  1,006  1,100  1,046  1,019  980  1,014  993  982  894 
Inventories 2,522  2,451  2,562  2,543  2,967  1,818  1,829  1,747  1,692  1,719  1,835  1,846  1,985  1,959  2,020  2,278  1,512  1,495  1,553  1,512  1,467  1,402  1,409  1,392  1,360 
Ratio
Inventory turnover1 3.72 3.56 3.13 2.87 2.09 3.38 3.40 3.63 3.77 3.78 3.51 3.65 3.10 2.85 2.50 1.82 2.76 2.77 2.61 2.65 2.71 2.77 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Inventory turnover = (Cost of products soldQ1 2019 + Cost of products soldQ4 2018 + Cost of products soldQ3 2018 + Cost of products soldQ2 2018) ÷ Inventories
= (2,187 + 2,312 + 2,261 + 2,618) ÷ 2,522 = 3.72

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Becton, Dickinson & Co.’s inventory turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Receivables Turnover

Becton, Dickinson & Co., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data (USD $ in millions)
Revenues 4,160  4,403  4,278  4,222  3,080  3,167  3,035  2,969  2,922  3,232  3,198  3,067  2,986  3,060  3,120  2,051  2,051  2,202  2,157  2,072  2,015  2,101  2,053  2,000  1,900 
Trade receivables, net 2,216  2,319  2,243  2,293  2,000  1,744  1,749  1,569  1,518  1,618  1,618  1,574  1,513  1,618  1,645  1,572  1,031  1,187  1,204  1,130  1,113  1,240  1,255  1,220  1,168 
Ratio
Receivables turnover1 7.70 6.89 6.57 5.89 6.13 6.93 6.95 7.85 8.18 7.72 7.61 7.77 7.41 6.35 5.73 5.38 8.23 7.12 6.93 7.29 7.34 6.50 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Receivables turnover = (RevenuesQ1 2019 + RevenuesQ4 2018 + RevenuesQ3 2018 + RevenuesQ2 2018) ÷ Trade receivables, net
= (4,160 + 4,403 + 4,278 + 4,222) ÷ 2,216 = 7.70

Ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Becton, Dickinson & Co.’s receivables turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Working Capital Turnover

Becton, Dickinson & Co., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data (USD $ in millions)
Current assets 6,941  7,411  7,525  7,512  7,542  18,633  18,212  4,891  5,187  6,367  6,534  6,612  5,641  6,045  6,303  6,996  12,111  6,131  6,045  5,946  5,743  5,873  5,435  5,500  5,477 
Less: Current liabilities 7,145  7,216  6,106  4,426  4,895  3,342  3,273  4,018  4,570  4,400  4,219  4,380  4,529  4,386  4,517  4,497  2,081  2,235  2,093  2,016  1,997  2,130  1,693  1,878  2,004 
Working capital (204) 195  1,419  3,086  2,647  15,291  14,939  873  617  1,967  2,315  2,232  1,112  1,659  1,786  2,499  10,030  3,896  3,952  3,930  3,746  3,743  3,742  3,622  3,474 
Revenues 4,160  4,403  4,278  4,222  3,080  3,167  3,035  2,969  2,922  3,232  3,198  3,067  2,986  3,060  3,120  2,051  2,051  2,202  2,157  2,072  2,015  2,101  2,053  2,000  1,900 
Ratio
Working capital turnover1 – 81.96 10.39 4.38 4.63 0.79 0.81 14.11 20.13 6.35 5.32 5.48 10.09 6.20 5.28 3.39 0.85 2.17 2.11 2.10 2.18 2.15 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Working capital turnover = (RevenuesQ1 2019 + RevenuesQ4 2018 + RevenuesQ3 2018 + RevenuesQ2 2018) ÷ Working capital
= (4,160 + 4,403 + 4,278 + 4,222) ÷ -204 = –

Ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Becton, Dickinson & Co.’s working capital turnover improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.

Average Inventory Processing Period

Becton, Dickinson & Co., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data
Inventory turnover 3.72 3.56 3.13 2.87 2.09 3.38 3.40 3.63 3.77 3.78 3.51 3.65 3.10 2.85 2.50 1.82 2.76 2.77 2.61 2.65 2.71 2.77 – – –
Ratio (no. of days)
Average inventory processing period1 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132 140 138 135 132 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.72 = 98

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. Becton, Dickinson & Co.’s average inventory processing period improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Average Receivable Collection Period

Becton, Dickinson & Co., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data
Receivables turnover 7.70 6.89 6.57 5.89 6.13 6.93 6.95 7.85 8.18 7.72 7.61 7.77 7.41 6.35 5.73 5.38 8.23 7.12 6.93 7.29 7.34 6.50 – – –
Ratio (no. of days)
Average receivable collection period1 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51 53 50 50 56 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.70 = 47

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.’s average receivable collection period improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Operating Cycle

Becton, Dickinson & Co., operating cycle calculation (quarterly data)

No. of days

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012
Selected Financial Data
Average inventory processing period 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132 140 138 135 132 – – –
Average receivable collection period 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51 53 50 50 56 – – –
Ratio
Operating cycle1 145 156 173 189 234 161 160 147 142 144 152 147 167 185 210 268 176 183 193 188 185 188 – – –

Based on: 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-02-02), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-Q (filing date: 2016-02-05), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-08), 10-Q (filing date: 2015-02-06), 10-K (filing date: 2014-11-26), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-05), 10-Q (filing date: 2014-02-10), 10-K (filing date: 2013-11-27), 10-Q (filing date: 2013-08-05), 10-Q (filing date: 2013-05-09), 10-Q (filing date: 2013-02-07).

Q1 2019 Calculations

1 Operating cycle = Average inventory processing period + Average receivable collection period
= 98 + 47 = 145

Ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Becton, Dickinson & Co.’s operating cycle improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.