Becton Dickinson and Company (BDX)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	14,094,000	14,738,000	14,926,000	16,010,000	14,268,000	13,886,000	14,683,000	17,584,000	16,360,000	17,110,000	15,700,000	17,718,000	16,082,000	17,224,000	17,090,000	16,809,000	16,949,000	18,081,000	18,016,000	17,556,000
Total stockholders’ equity	US$ in thousands	25,332,000	25,796,000	25,937,000	25,689,000	25,472,000	25,282,000	25,493,000	24,525,000	24,160,000	23,677,000	24,135,000	24,826,000	24,663,000	23,765,000	24,022,000	20,951,000	21,202,000	21,081,000	21,497,000	21,309,000
Debt-to-capital ratio		0.36	0.36	0.37	0.38	0.36	0.35	0.37	0.42	0.40	0.42	0.39	0.42	0.39	0.42	0.42	0.45	0.44	0.46	0.46	0.45

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $14,094,000K ÷ ($14,094,000K + $25,332,000K)
= 0.36

The debt-to-capital ratio of Becton Dickinson & Co. has shown relatively consistent levels over the eight quarters presented. It ranged from a low of 0.38 in Q4 2023 to a high of 0.43 in Q2 2022. Generally, the company has maintained a stable position with the ratio hovering around the range of 0.38 to 0.43 with minor fluctuations. The ratio indicates that the company relies more on equity financing rather than debt, as a lower ratio suggests lower financial risk. This steady trend suggests that the company may have a balanced approach towards managing its capital structure and debt levels.