Becton Dickinson and Company (BDX)

Debt-to-assets ratio

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Long-term debt	US$ in thousands	14,738,000	13,886,000	17,110,000	17,224,000	18,081,000
Total assets	US$ in thousands	52,780,000	52,934,000	53,866,000	54,012,000	51,765,000
Debt-to-assets ratio		0.28	0.26	0.32	0.32	0.35

September 30, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $14,738,000K ÷ $52,780,000K
= 0.28

The debt-to-assets ratio measures the proportion of a company's assets financed by debt. Becton Dickinson & Co.'s ratio has remained relatively stable over the past five years, standing at 0.30 in both 2023 and 2022, compared to 0.33 in 2021 and 2020, and 0.37 in 2019. This indicates that the company has been successful in maintaining a conservative level of debt relative to its total assets. A lower ratio suggests lower financial risk and greater solvency, as it indicates a smaller proportion of assets being funded by debt. Becton Dickinson & Co.'s consistent ratio implies a prudent approach to leveraging its assets.