Becton Dickinson and Company (BDX)

Debt-to-equity 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-equity ratio		0.69	0.70	0.62	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

September 30, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $17,940,000K ÷ $25,890,000K
= 0.69

The debt-to-equity ratio of Becton Dickinson and Company has fluctuated over the past several quarters. The ratio was 0.69 as of September 30, 2024, indicating that the company had $0.69 in debt for every $1 of equity. This was a slight decrease from the previous quarter's ratio of 0.70.

Looking at the trend over the past few years, the company's debt-to-equity ratio has ranged between 0.55 and 0.80. In general, a lower debt-to-equity ratio suggests that the company is relying more on equity financing rather than debt to fund its operations and growth.

It is worth noting that the ratio has shown some volatility, reaching its highest level of 0.80 in the first quarter of 2020 and its lowest level of 0.55 in the first quarter of 2022. This suggests that the company may have adjusted its capital structure over time, potentially taking on more debt in certain periods to fund investments or acquisitions.

Overall, monitoring the debt-to-equity ratio can provide insights into the company's financial health, capital structure, and risk profile. A stable and reasonable ratio indicates a balanced mix of debt and equity, which can be essential for long-term sustainability and growth.