BDX
Becton, Dickinson and Company (BDX)
Last Price$228.51.3%
Market Cap$66.3B
DCF value
$190.8
Overvalued (DCF value)
(16.5%)
Discount Rate
5.6%
Long-Term Growth Rate
3.0%
Stock quality
6/10
Good

BDX DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Sep'20 ActualSep'21 ActualSep'22 ActualSep'23 ActualSep'24 ActualSep'25 EstimateSep'26 EstimateSep'27 EstimateSep'28 EstimateSep'29 EstimateSep'30 EstimateSep'31 EstimateSep'32 EstimateSep'33 EstimateSep'34 EstimateSep'35 Terminal
% growth
17,117.0
(1.0%)
20,248.0
18.3%
18,870.0
(6.8%)
19,372.0
2.7%
20,178.0
4.2%
21,998.5
9.0%
23,106.3
5.0%
24,329.9
5.3%
25,003.0
2.8%
25,703.0
2.8%
26,431.3
2.8%
27,188.9
2.9%
27,977.4
2.9%
28,798.0
2.9%
29,652.4
3.0%
30,541.9
3.0%
1,484.0
8.7%
2,799.0
13.8%
2,282.0
12.1%
2,111.0
10.9%
2,397.0
11.9%
2,259.7
10.3%
2,373.5
10.3%
2,499.2
10.3%
2,568.3
10.3%
2,640.2
10.3%
2,715.0
10.3%
2,792.8
10.3%
2,873.8
10.3%
2,958.1
10.3%
3,045.9
10.3%
3,137.3
10.3%
NOPAT
% effective tax rate
1,316.8
7.7%
2,611.7
12.9%
2,092.6
11.1%
1,943.3
10.0%
2,038.3
10.1%
1,921.6
8.7%
2,018.3
8.7%
2,125.2
8.7%
2,184.0
8.7%
2,245.2
8.7%
2,308.8
8.7%
2,375.0
8.7%
2,443.8
8.7%
2,515.5
8.7%
2,590.1
8.7%
2,667.8
8.7%
% of revenue
2,030.0
11.9%
2,091.0
10.3%
2,102.0
11.1%
2,161.0
11.2%
2,286.0
11.3%
2,465.6
11.2%
2,589.7
11.2%
2,726.9
11.2%
2,802.3
11.2%
2,880.8
11.2%
2,962.4
11.2%
3,047.3
11.2%
3,135.7
11.2%
3,227.7
11.2%
3,323.4
11.2%
3,423.1
11.2%
% of revenue
(810.0)
(4.7%)
(1,231.0)
(6.1%)
(973.0)
(5.2%)
(874.0)
(4.5%)
(725.0)
(3.6%)
(972.4)
(4.4%)
(1,021.4)
(4.4%)
(1,075.5)
(4.4%)
(1,105.2)
(4.4%)
(1,136.2)
(4.4%)
(1,168.4)
(4.4%)
(1,201.8)
(4.4%)
(1,236.7)
(4.4%)
(1,273.0)
(4.4%)
(1,310.7)
(4.4%)
(1,350.1)
(4.4%)
512.0
3.0%
282.0
1.4%
(1,394.0)
(7.4%)
(828.0)
(4.3%)
0.0
0.0%
(855.1)
(3.9%)
(898.2)
(3.9%)
(945.8)
(3.9%)
(971.9)
(3.9%)
(999.1)
(3.9%)
(1,027.4)
(3.9%)
(1,056.9)
(3.9%)
(1,087.5)
(3.9%)
(1,119.4)
(3.9%)
(1,152.6)
(3.9%)
(1,187.2)
(3.9%)
Free Cash Flow to Firm (FCFF)
% of revenue
3,048.8
17.8%
3,753.7
18.5%
1,827.6
9.7%
2,402.3
12.4%
3,599.3
17.8%
2,559.6
11.6%
2,688.5
11.6%
2,830.9
11.6%
2,909.2
11.6%
2,990.7
11.6%
3,075.4
11.6%
3,163.5
11.6%
3,255.3
11.6%
3,350.8
11.6%
3,450.2
11.6%
3,553.7
11.6%
% of FCFF used in calculation
57.8%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
9.50
Discount factor
0.97
0.92
0.87
0.83
0.78
0.74
0.70
0.66
0.63
0.60
Discounted FCFF (DFCFF)
1,439.9
2,477.6
2,470.5
2,404.3
2,340.6
2,279.3
2,220.4
2,163.7
2,109.1
2,056.6

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BDX DCF Value

DCF Value Calculation

as of Mar 03, 2025
Sum of DFCFF
% share of EV
22.0B
30.0%
Terminal Value (TV)
86.0B
Discounted TV
% share of EV
51.2B
70.0%
Total Debt
20.1B
Shares outstanding
290.3M
FX rate
1.0
16.5% overvalued

Equity Value Bridge

BDX DCF Financials

Revenue
$20.2B -> $29.7B 3.9% CAGR
Operating Income
$2,397.0M -> $3,045.9M 2.4% CAGR
FCFF
$3,599.3M -> $3,450.2M (0.4%) CAGR

BDX DCF sensitivity

DCF value
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
5.0%
$198.0
$198.0
$198.0
$198.0
$198.0
5.5%
$192.0
$192.0
$192.0
$192.0
$192.0
5.6%
$191.0
$191.0
$191.0
$191.0
$191.0
6.5%
$161.0
$179.0
$180.0
$180.0
$180.0
7.0%
$138.0
$153.0
$170.0
$175.0
$175.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
5.0%
(13.0%)
(13.0%)
(13.0%)
(13.0%)
(13.0%)
5.5%
(16.0%)
(16.0%)
(16.0%)
(16.0%)
(16.0%)
5.6%
(16.0%)
(16.0%)
(16.0%)
(16.0%)
(16.0%)
6.5%
(30.0%)
(22.0%)
(21.0%)
(21.0%)
(21.0%)
7.0%
(40.0%)
(33.0%)
(26.0%)
(23.0%)
(23.0%)

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FAQ

What is Becton, Dickinson and Company DCF (discounted cash flow) valuation?

As of Mar 03, 2025, Becton, Dickinson and Company's Discounted Cash Flow (DCF) valuation estimates its share price at $190.8. This suggests it may be overvalued by (16.5%) compared to its current price of around $228.5, using a WACC of 5.6% and growth rates of 3.0%.

What is Becton, Dickinson and Company WACC?

As of Mar 03, 2025, Becton, Dickinson and Company's Weighted Average Cost of Capital (WACC) is approximately 5.6%.

What is Becton, Dickinson and Company Enterprise Value?

As of Mar 03, 2025, Becton, Dickinson and Company's Enterprise Value (EV) is approximately $73.2B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.