Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Becton Dickinson (BDX): Spinning Off Stability—But Does It Move the Needle?
BD delivered a strong FQ1 2025, with 9.6% YoY revenue growth (+3.9% organic), margin expansion (+370bps gross margin, +340bps operating margin), and EPS of $3.43 (+28% YoY), yet the announced separation of Biosciences & Diagnostic Solutions (B&DS) overshadowed near-term fundamentals. The split sharpens BD’s MedTech focus ($17.8B revenue, >90% recurring) while positioning B&DS ($3.3B) for independent mid-to-high single-digit growth. However, market reaction was muted, as BD must prove strategic value beyond portfolio simplification. While Alaris pump rollouts and interventional segment strength drive optimism, China weakness, pharma systems softness, and diagnostics headwinds persist. The company reaffirmed organic revenue growth targets but trimmed reported revenue guidance due to FX ($250M hit), though a raised EPS midpoint ($14.30–$14.60) signals cost leverage. BD’s ability to manage capital discipline post-split while maintaining margin expansion is key to investor confidence. Can BD execute a smooth separation and reignite core growth momentum, or does the spinoff signal underlying portfolio challenges that could limit long-term upside?
