Becton Dickinson and Company (BDX)

Debt-to-equity 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-equity ratio		0.56	0.57	0.58	0.62	0.56	0.55	0.58	0.72	0.68	0.72	0.65	0.71	0.65	0.72	0.71	0.80	0.80	0.86	0.84	0.82

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $14,094,000K ÷ $25,332,000K
= 0.56

Becton Dickinson & Co.'s debt-to-equity ratio has shown a relatively stable trend over the past eight quarters. The ratio fluctuated between 0.62 and 0.76 during this period, with the latest reported ratio for Q1 2024 standing at 0.64.

Overall, the company has maintained a reasonable level of leverage, indicating that it relies more on equity financing than debt to fund its operations. The consistent range of the debt-to-equity ratio implies that Becton Dickinson & Co. has been managing its debt and equity structure effectively over the quarters analyzed.

While the ratio has seen some fluctuations, it is important to consider factors such as industry norms, market conditions, and the company's specific strategies when evaluating the debt-to-equity ratio in isolation. Additional analysis and comparison with industry peers would provide more insights into Becton Dickinson & Co.'s financial leverage position.