Becton Dickinson and Company (BDX)

Debt-to-capital ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	17,940,000	18,131,000	15,995,000	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
Total stockholders’ equity	US$ in thousands	25,890,000	25,868,000	25,647,000	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
Debt-to-capital ratio		0.41	0.41	0.38	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

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $17,940,000K ÷ ($17,940,000K + $25,890,000K)
= 0.41

The debt-to-capital ratio of Becton Dickinson and Company has shown some fluctuations over the past two years. The ratio ranged from 0.35 to 0.45 during this period, with the latest ratio at 0.41 as of September 30, 2024. This indicates that approximately 41% of the company's capital structure is financed through debt.

The trend in the debt-to-capital ratio shows some volatility, with occasional increases and decreases. It is worth noting that the ratio peaked at 0.45 in the first quarter of 2020 but has generally remained within a range of 0.35 to 0.45 since then.

Overall, the debt-to-capital ratio of Becton Dickinson and Company suggests a moderate reliance on debt financing in its capital structure. Investors and analysts may want to further investigate the company's debt levels and their implications on its financial health and risk profile.