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Becton Dickinson (BDX) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Becton Dickinson (BDX) Q3 FY26 earnings results →

Q3 FY26 Revenue up 5% year over year to $5.0B · 8¢ of every $1 of revenue kept as net profit · operating margin 13.3%

Becton Dickinson made $5.0B in Q3 FY26 (+5% Y/Y). Operating margin 13.3%, net earnings $377M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$5.0B
Year over year+5%
Operating margin13.3%
Net earnings$377M
Operating cash flow$776M

Drawing the Sankey…

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Becton Dickinson Q3 FY26 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Becton Dickinson Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $5.0B in Q3 FY26, up 5% year over year and up 6% from the previous quarter.

Operating profit was $0.66B, a 13.3% margin (down 2.3 points year over year). Operating profit fell $0.08B even though revenue rose $0.26B versus Q3 FY25, so costs grew faster than sales. Total costs grew 8% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+29%). Net earnings were $0.38B, down 34% year over year. The effective tax rate was 21.3%.

Operating cash flow was $0.78B (down 29% year over year), 206% of net earnings. Non-cash charges added back $0.56B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.14B left free cash flow of $0.63B.

Quarterly history

Becton Dickinson revenue by quarterBecton Dickinson revenue by quarter$5.4BQ4 FY24$5.3BQ2 FY25$5.5BQ3 FY25$5.9BQ4 FY25$5.3BQ1 FY26$4.7BQ2 FY26$5.0BQ3 FY26
Becton Dickinson net earnings by quarterBecton Dickinson net earnings by quarter$400MQ4 FY24$308MQ2 FY25$574MQ3 FY25$493MQ4 FY25$382MQ1 FY26−$311MQ2 FY26$377MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$5.0B+5%13.3%$377M$776M
Q2 FY2610-QMay 7, 2026$4.7B+5%2.0%−$311M—
Q1 FY2610-QFeb 9, 2026$5.3B+2%10.5%$382M$657M
Q4 FY2510-KNov 25, 2025$5.9B+8%11.8%$493M$1.4B
Q3 FY2510-QAug 7, 2025$5.5B+10%16.0%$574M$1.2B
Q2 FY2510-QMay 1, 2025$5.3B+4%10.4%$308M$164M
Q4 FY2410-KNov 27, 2024$5.4B+7%11.4%$400M$1.2B

Charts

Becton Dickinson: revenue growth, year over year and quarter over quarterBecton Dickinson: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q4 FY24+4%-3%Q2 FY25+10%+4%Q3 FY25+8%+7%Q4 FY25+2%-11%Q1 FY26+5%-10%Q2 FY26+5%+6%Q3 FY26
Latest (Q3 FY26): Y/Y +5%, Q/Q +6%.
Becton Dickinson: where the cash came from (+) and went (−), TTM to Q3 FY26Becton Dickinson: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$4.0BNet borrowing (+) / repaid (−)−$3.3BNot reconciled$2.7BBuybacks−$2.5BCapital spending−$753MCash drawn (+) / kept (−)−$146MAcquisitions−$35.0MExchange rates$7.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Becton Dickinson: profit against cash, quarter by quarterBecton Dickinson: profit against cash, quarter by quarterNet incomeOperating cash flow$400M$1.2BQ4 FY24$303M$693MQ1 FY25$308M−$204MQ2 FY25$574M$1.1BQ3 FY25$493M$1.9BQ4 FY25$382M$657MQ1 FY26−$311MQ2 FY26$377M$776MQ3 FY26
Latest (Q3 FY26): Net income $377M, Operating cash flow $776M.
Becton Dickinson: diluted shares by fiscal yearBecton Dickinson: diluted shares by fiscal year282MFY20292MFY21287MFY22288MFY23291MFY24289MFY25
+2.2% since FY20: more shares outstanding (issuance, stock pay).
Becton Dickinson: long-term debt falling due (FY25)Becton Dickinson: long-term debt falling due (FY25)$2.2B2026$3.2B2027$2.5B2028$2.6B2029$1.1B2030
Cash $567M, short-term investments —, long-term debt — at 2025-09-30.
Becton Dickinson in its industry: growth against margin (111 companies, SIC 3841)Becton Dickinson in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBAXSOLVRMDDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDARAYANGOKIDSSKINLMATHTFLMDXGCERSSIBNTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLLNSRSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSBDX (+5%, 13%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

GLP-1 & obesity drugs money flowGLP-1 & obesity drugs · Pens, vials & delivery

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Becton Dickinson

Becton, Dickinson and Company (also referred to herein as "BD") was incorporated under the laws of the State of New Jersey in November 1906, as successor to a New York business started in 1897. BD’s executive offices are located at 1 Becton Drive, Franklin Lakes, New Jersey 07417-1880, and its telephone number is (201) 847-6800. All references in this Form 10-K to "BD", "the Company", "we", "our" or "us" refer to Becton, Dickinson and Company and its domestic and foreign subsidiaries, unless otherwise indicated by the context. BD is a global medical technology company engaged in the development, manufacture and sale of a broad range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.

In its own words, from its 10-K, filed Nov 25, 2025.

Becton Dickinson against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +5%. Operating margin: 13.3% against the peers' median 15.9%.

CompanyQuarterRevenueY/YOp. margin
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
RMD ResMedQ1 FY27$1.4B+6%32.0%
DXCM DexComQ3 2026$1.3B+11%24.3%

Source: Becton Dickinson 10-Q on SEC EDGAR · CIK 10795 · Surgical & Medical Instruments & Apparatus

Guidance and outlook

Becton Dickinson Revenue: guidance against what was reportedBecton Dickinson Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24$20.2BFY25$21.8B
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns BDX and who is buying

Largest holders of BDX (13F)Largest holders of BDX (13F)Vanguard Group$7.1BFirst Eagle Investment Management…$4.2BBlackRock$3.7BVanguard Capital Management LLC$2.7BMassachusetts Financial Services$2.5BState Street$2.3BVanguard Portfolio Management LLC$2.3BInvesco$1.3BGeode Capital Management, LLC$1.2BFranklin Resources$1.1B
Funds' net buying of BDX by quarter (13F)Funds' net buying of BDX by quarter (13F)$337M2024-09−$338M2024-12−$265M2025-03−$305M2025-06$390M2025-09$3.4B2025-12−$1.9B2026-03$1.9B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BDX

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Becton Dickinson（BDX）财报

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