Becton, Dickinson and Company stock research
FY2024 Q3
Becton, Dickinson and (BDX) Gross Margin — Quarter Ended Jun 30, 2024
Revenue was stable compared to the prior quarter, while gross profit and cost of revenue were also stable, resulting in a slightly improved gross margin. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was lower, and gross margin improved.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q3
Revenue was stable compared to the prior quarter, while gross profit and cost of revenue were also stable, resulting in a slightly improved gross margin. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was lower, and gross margin improved.
- The gross margin improved sequentially and year-over-year, driven by a combination of higher revenue and lower cost of revenue relative to the prior year, while the sequential improvement was more modest.
- Compared to the immediately preceding quarter, revenue was stable, gross profit was stable, cost of revenue was stable, and gross margin was slightly higher. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was lower, and gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
46.2%
Gross profit
$2.3B
Revenue
$5.0B
Cost of revenue
$2.7B
Quarter-over-quarter change
+0.6 pts
Year-over-year change
+3.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $5.1B | $1.7B | $3.4B | 33.4% |
| Dec 31, 2023 | $4.7B | $2.0B | $2.7B | 43.1% |
| Mar 31, 2024 | $5.0B | $2.3B | $2.7B | 45.7% |
| Jun 30, 2024 | $5.0B | $2.3B | $2.7B | 46.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.6 pts
Year-over-year change
Jun 30, 2023
+3.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by a combination of higher revenue and lower cost of revenue relative to the prior year, while the sequential improvement was more modest.
Compared to the immediately preceding quarter, revenue was stable, gross profit was stable, cost of revenue was stable, and gross margin was slightly higher. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was lower, and gross margin was higher.
Monitor the trajectory of cost of revenue, which decreased year-over-year but remained stable sequentially, as any change could affect gross margin.