Stock Analysis on Net
Stock Analysis on Net

Becton, Dickinson & Co. (NYSE:BDX)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Short-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Turnover Ratios
Inventory turnover 3.15 3.35 3.28 3.49 3.42 3.42 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
Receivables turnover 8.49 8.06 8.37 7.37 7.71 7.48 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
Working capital turnover 6.13 17.14 31.45 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
Average No. Days
Average inventory processing period 116 109 111 105 107 107 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132
Add: Average receivable collection period 43 45 44 50 47 49 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51
Operating cycle 159 154 155 155 154 156 145 156 173 189 234 161 160 147 142 144 152 147 167 185 210 268 176 183

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Becton, Dickinson & Co.’s inventory turnover ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Receivables turnover An activity ratio equal to revenue divided by receivables. Becton, Dickinson & Co.’s receivables turnover ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

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. Becton, Dickinson & Co.’s number of days of inventory outstanding improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Becton, Dickinson & Co.’s number of days of receivables outstanding deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Becton, Dickinson & Co.’s operating cycle improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Inventory Turnover

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data (US$ in millions)
Cost of products sold 2,195  2,520  2,247  2,318  2,276  2,221  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 
Inventories 2,945  2,794  2,760  2,579  2,629  2,627  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 
Short-term Activity Ratio
Inventory turnover1 3.15 3.35 3.28 3.49 3.42 3.42 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
Benchmarks
Inventory Turnover, Competitors2
Boston Scientific Corp. 2.13 1.96 1.97 1.91 2.22 2.34 2.41 2.43 2.50 2.35 2.41 2.36 2.44 2.58 2.54 2.38 2.37 2.18 2.14
Danaher Corp. 3.79 3.26 3.09 4.87 4.04 4.08 4.24 4.60 4.25 4.27 4.27 4.42 4.21 4.37 4.34 4.42 4.87 3.96 4.17 4.68
Edwards Lifesciences Corp. 1.47 1.73 1.74 1.74 1.59 1.49 1.55 1.61 1.63 1.56 1.58 1.58 1.71 1.93 2.01 1.90 1.92 1.86 1.82
Intuitive Surgical Inc. 2.18 2.22 2.30 2.30 2.24 2.41 2.50 2.74 2.89 3.10 3.46 3.88 4.02 4.02 3.90 4.47 4.37 4.73 4.91 4.80
Medtronic PLC 2.34 2.35 2.37 2.44 2.35 2.39 2.42 2.53 2.42 2.52 2.65 2.78 2.48 2.45 2.50 2.63 2.75 2.47 2.25 1.82
Stryker Corp. 1.50 1.55 1.58 1.56 1.54 1.56 1.58 1.57 1.64 1.64 1.73 1.67 1.78 1.85 1.89 1.75 1.75 1.88 2.04
Thermo Fisher Scientific Inc. 3.93 4.14 4.22 4.23 4.30 4.37 4.49 4.46 4.47 4.21 3.86 3.45 4.29 4.36 4.48 4.09 4.59 4.39 4.62

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Inventory turnover = (Cost of products soldQ3 2020 + Cost of products soldQ2 2020 + Cost of products soldQ1 2020 + Cost of products soldQ4 2019) ÷ Inventories
= (2,195 + 2,520 + 2,247 + 2,318) ÷ 2,945 = 3.15

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.’s inventory turnover ratio improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Receivables Turnover

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data (US$ in millions)
Revenues 3,855  4,253  4,225  4,585  4,350  4,195  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 
Trade receivables, net 1,993  2,160  2,074  2,345  2,220  2,279  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 
Short-term Activity Ratio
Receivables turnover1 8.49 8.06 8.37 7.37 7.71 7.48 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
Benchmarks
Receivables Turnover, Competitors2
Boston Scientific Corp. 6.97 6.84 5.87 5.79 5.89 6.13 6.11 6.12 5.99 5.87 5.84 6.01 6.03 6.01 5.70 5.90 5.74 5.94 5.86
Danaher Corp. 5.83 5.59 5.25 5.61 5.31 5.42 5.70 5.70 5.90 5.85 5.75 5.20 5.48 5.42 5.66 5.30 5.90 4.77 5.11 5.19
Intuitive Surgical Inc. 7.32 8.56 8.73 6.94 6.65 6.38 7.03 5.46 6.15 6.49 6.95 6.11 6.40 5.97 6.74 6.29 6.07 6.27 7.51 6.05
Medtronic PLC 4.97 5.05 5.20 4.91 5.22 5.29 5.28 5.00 5.15 5.15 5.18 5.31 5.38 5.12 5.36 5.18 5.87 5.15 4.84 3.96
Stryker Corp. 6.39 5.65 5.14 5.97 5.90 6.08 5.83 6.39 6.24 6.04 5.66 6.17 6.28 6.29 5.76 6.04 5.96 6.32 5.98
Thermo Fisher Scientific Inc. 5.86 5.69 5.87 5.75 6.02 5.93 5.89 6.20 5.90 5.52 5.39 5.42 5.89 6.05 5.99 6.21 6.50 6.50 6.67
UnitedHealth Group Inc. 19.62 16.73 20.32 21.70 24.04 17.92 19.75 19.88 19.54 17.94 20.92 22.65 18.19 19.61 22.57 24.52 18.76 21.23 23.98

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Receivables turnover = (RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019) ÷ Trade receivables, net
= (3,855 + 4,253 + 4,225 + 4,585) ÷ 1,993 = 8.49

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.’s receivables turnover ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data (US$ in millions)
Current assets 8,827  8,555  6,438  6,664  6,781  6,844  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 
Less: Current liabilities 6,067  8,755  6,726  5,655  6,237  7,108  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 
Working capital 2,760  (200) (288) 1,009  544  (264) (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 
 
Revenues 3,855  4,253  4,225  4,585  4,350  4,195  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 
Short-term Activity Ratio
Working capital turnover1 6.13 17.14 31.45 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
Benchmarks
Working Capital Turnover, Competitors2
Boston Scientific Corp. 3.77 12.73 17.52 6.79 5.66 49.53 53.76 13.80 7.18
Danaher Corp. 3.14 2.80 6.74 0.87 1.28 2.86 3.56 8.83 8.29 8.36 7.15 8.91 9.52 8.49 54.35 10.51 5.95 8.16 12.34
Edwards Lifesciences Corp. 2.38 2.55 2.09 2.11 2.39 2.22 2.64 2.20 2.35 2.46 3.04 1.81 1.88 2.20 1.74 1.75 1.82 1.91 1.59
Intuitive Surgical Inc. 0.80 0.88 1.23 1.23 1.25 1.24 1.17 1.06 1.01 1.04 1.18 1.49 1.29 1.41 1.73 1.02 1.10 1.08 1.25 1.40
Medtronic PLC 2.03 2.13 2.16 2.26 2.54 2.30 2.24 2.32 1.90 2.02 3.11 2.79 3.01 2.24 1.84 1.75 1.47 1.26 1.08 0.93
Stryker Corp. 1.68 2.28 2.14 3.13 3.35 3.32 2.76 3.53 3.87 4.17 2.76 2.72 2.43 2.21 2.40 2.51 2.48 1.24 2.24
Thermo Fisher Scientific Inc. 2.69 3.54 4.48 5.40 6.70 6.10 5.44 5.47 6.61 8.75 8.82 10.94 8.08 9.64 8.48 6.10 21.93 80.21 10.64
UnitedHealth Group Inc.

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Working capital turnover = (RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019) ÷ Working capital
= (3,855 + 4,253 + 4,225 + 4,585) ÷ 2,760 = 6.13

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.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data
Inventory turnover 3.15 3.35 3.28 3.49 3.42 3.42 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
Short-term Activity Ratio (no. days)
Average inventory processing period1 116 109 111 105 107 107 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Boston Scientific Corp. 172 186 185 191 164 156 151 150 146 155 152 155 150 142 144 153 154 168 171
Danaher Corp. 96 112 118 75 90 89 86 79 86 86 86 83 87 84 84 83 75 92 88 78
Edwards Lifesciences Corp. 248 211 210 210 229 246 236 227 223 234 231 230 213 189 182 193 190 197 201
Intuitive Surgical Inc. 167 164 159 159 163 152 146 133 126 118 106 94 91 91 94 82 83 77 74 76
Medtronic PLC 156 155 154 150 156 153 151 144 151 145 138 131 147 149 146 139 133 148 162 200
Stryker Corp. 244 235 231 234 237 233 231 232 223 222 211 218 206 197 193 209 208 194 179
Thermo Fisher Scientific Inc. 93 88 87 86 85 84 81 82 82 87 95 106 85 84 82 89 80 83 79

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.15 = 116

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. Becton, Dickinson & Co.’s number of days of inventory outstanding improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data
Receivables turnover 8.49 8.06 8.37 7.37 7.71 7.48 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
Short-term Activity Ratio (no. days)
Average receivable collection period1 43 45 44 50 47 49 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Boston Scientific Corp. 52 53 62 63 62 60 60 60 61 62 62 61 60 61 64 62 64 61 62
Danaher Corp. 63 65 69 65 69 67 64 64 62 62 63 70 67 67 65 69 62 76 71 70
Intuitive Surgical Inc. 50 43 42 53 55 57 52 67 59 56 52 60 57 61 54 58 60 58 49 60
Medtronic PLC 73 72 70 74 70 69 69 73 71 71 71 69 68 71 68 70 62 71 75 92
Stryker Corp. 57 65 71 61 62 60 63 57 58 60 64 59 58 58 63 60 61 58 61
Thermo Fisher Scientific Inc. 62 64 62 63 61 62 62 59 62 66 68 67 62 60 61 59 56 56 55
UnitedHealth Group Inc. 19 22 18 17 15 20 18 18 19 20 17 16 20 19 16 15 19 17 15

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.49 = 43

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.’s number of days of receivables outstanding deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Operating Cycle

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

No. days

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Selected Financial Data
Average inventory processing period 116 109 111 105 107 107 98 103 117 127 174 108 107 101 97 97 104 100 118 128 146 200 132 132
Average receivable collection period 43 45 44 50 47 49 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44 51
Short-term Activity Ratio
Operating cycle1 159 154 155 155 154 156 145 156 173 189 234 161 160 147 142 144 152 147 167 185 210 268 176 183
Benchmarks
Operating Cycle, Competitors2
Boston Scientific Corp. 224 239 247 254 226 216 211 210 207 217 214 216 210 203 208 215 218 229 233
Danaher Corp. 159 177 187 140 159 156 150 143 148 148 149 153 154 151 149 152 137 168 159 148
Intuitive Surgical Inc. 217 207 201 212 218 209 198 200 185 174 158 154 148 152 148 140 143 135 123 136
Medtronic PLC 229 227 224 224 226 222 220 217 222 216 209 200 215 220 214 209 195 219 237 292
Stryker Corp. 301 300 302 295 299 293 294 289 281 282 275 277 264 255 256 269 269 252 240
Thermo Fisher Scientific Inc. 155 152 149 149 146 146 143 141 144 153 163 173 147 144 143 148 136 139 134

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-Q (filing date: 2020-02-06), 10-K (filing date: 2019-11-27), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-09), 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).

1 Q3 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 116 + 43 = 159

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.’s operating cycle improved from Q1 2020 to Q2 2020 but then deteriorated significantly from Q2 2020 to Q3 2020.