Becton, Dickinson and (BDX) 10-K Summary — Year Ended Sep 30, 2023
The company operates in the medical technology sector, focusing on devices and diagnostic solutions. Its financial performance showed an increase in revenue compared to the prior period, with operating income and net income reported at the levels shown.
Key takeaway
Year ended Sep 30, 2023 · FY2025 10-K
The company operates in the medical technology sector, focusing on devices and diagnostic solutions. Its financial performance showed an increase in revenue compared to the prior period, with operating income and net income reported at the levels shown.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$19.4B
Revenue reported for the fiscal year.
Operating income
$2.1B
Income from operations reported for the year.
Net income
$1.5B
Net income reported for the year.
Operating cash flow
n/a
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2021 | $19.1B | n/a |
| Sep 30, 2022 | $18.9B | -1.4% |
| Sep 30, 2023 | $19.4B | +2.7% |
Business overview
Becton, Dickinson and Company is a global medical technology firm that develops, manufactures, and sells medical devices, instrument systems, and reagents. The company serves healthcare institutions, clinical laboratories, and life science researchers through its segments. Its product portfolio includes syringes, needles, diagnostic systems, and medication management solutions.
Financial performance
Revenue increased from the prior year, while operating income and net income were reported at the levels shown. Operating cash flow reflected net income adjusted by changes in working capital, with inventory optimization efforts contributing to a lower net use of cash compared to the prior year.
Material risks
The company faces risks related to changes in operating assets and liabilities, including fluctuations in accounts payable, accrued expenses, and trade receivables. Additionally, the filing notes that high levels of inventory and prepaid expenses could impact cash flows. The company also acknowledges potential challenges from strategic acquisitions and research and development investments.
Liquidity and capital
The company maintains liquidity through available cash, operating cash flow, and access to borrowing facilities. Cash flows from financing activities were negative, reflecting uses such as debt repayment or share repurchases, while investing activities included spending on acquisitions and capital expenditures.
What to watch
Monitor changes in inventory levels and working capital management, as these were highlighted as key factors affecting operating cash flow.