Abbott Laboratories vs Becton Dickinson
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KIRA’s take AI analyst
I put Abbott Laboratories and Becton Dickinson side by side, using each one’s latest annual report. Here is what stands out:
- Abbott Laboratories is the larger business, with $44.3B of revenue in fiscal 2025 against $21.8B for Becton Dickinson, about 2.0 times as much.
- Becton Dickinson grew revenue faster (8.2%, against 5.7%).
- Abbott Laboratories kept more of each dollar of sales as operating profit (18.2% operating margin, against 11.8%).
- Abbott Laboratories turned more of its sales into free cash flow (16.7% FCF margin, against 12.2%).
- Abbott Laboratories earned a higher return on the capital invested in it (11.2%, against 5.5%).
- Investors pay more for each dollar of Becton Dickinson’s earnings: a P/E of 59.2x against 29.3x for Abbott Laboratories.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Abbott Laboratories
ABT
7/11
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Becton Dickinson
BDX
3/11
Revenue growth5-year growthShare count change
Side by side
Best in the row
| Latest fiscal year | ABT FY25 | BDX FY25 |
|---|---|---|
| Size | ||
| Market cap | $183.2B | $54.0B |
| Revenue | $44.3B | $21.8B |
| Free cash flow | $7.4B | $2.7B |
| Net income | $6.5B | $1.7B |
| Growth | ||
| Revenue growth | 5.7% | 8.2% |
| 5-year growth | 5.1% | 6.3% |
| Share count change | 0.0% | −0.9% |
| Profitability | ||
| Gross margin | 56.4% | 45.4% |
| Operating margin | 18.2% | 11.8% |
| Net margin | 14.7% | 7.7% |
| FCF margin | 16.7% | 12.2% |
| Return on capital | 11.2% | 5.5% |
| Return on equity | 13.1% | 6.5% |
| Balance sheet | ||
| Net debt | $4.0B | $17.0B |
| Net debt / EBITDA | 0.4x | 3.4x |
| Dividends and buybacks | $5.0B | $2.2B |
| Valuation & quality | ||
| P/E | 29.3x | 59.2x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.