TacticScaleWhat Becton Dickinson Does & How It Makes Money (BDX)
Updated October 2026 · reflects Becton Dickinson's latest reported financials
Global maker of medical supplies, devices, lab equipment and diagnostics. BD earns revenue by selling medical devices, disposables, diagnostic systems and reagents, and medication management equipment and software to hospitals, labs, pharmaceutical companies and researchers worldwide.
How Becton Dickinson makes money
BD earns revenue by selling medical devices, disposables, diagnostic systems and reagents, and medication management equipment and software to hospitals, labs, pharmaceutical companies and researchers worldwide. Much of this is single-use supplies and reagents that customers buy again and again.
What Becton Dickinson does
Becton, Dickinson and Company (BD), founded in 1897 and headquartered in Franklin Lakes, New Jersey, is a large global medical technology company. It reports five segments: Medical Essentials, Connected Care, BioPharma Systems, Interventional and Life Sciences. Its products range from basic disposables like syringes, needles, IV catheters and sharps containers to automated pharmacy and medication dispensing systems, hemodynamic monitoring, and prefillable drug delivery systems sold to pharmaceutical companies. In diagnostics and research, BD offers blood and specimen collection, automated blood culture and molecular testing, microbiology lab automation, and flow cytometry instruments with antibodies and reagents for single-cell analysis. Its interventional business covers hernia and soft tissue repair, biosurgery, peripheral intervention, urology and critical care. BD sells to hospitals, clinical labs, researchers and drugmakers worldwide.
Products & services
- Hypodermic syringes and needles
- Peripheral IV catheters and needle-free connectors
- Automated medication dispensing and infusion systems
- Specimen and blood collection products
- Flow cytometry cell sorters and analyzers
- Hernia and soft tissue repair products
What is Becton Dickinson worth?
On an owner-earnings DCF, Becton Dickinson's most-likely value is about $176 versus a recent price near $189 (8% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$96) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 6.1× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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