Becton Dickinson vs Boston Scientific
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The short version
- Becton Dickinson is the larger business, with $21.8B of revenue in fiscal 2025 against $20.1B for Boston Scientific.
- Boston Scientific grew revenue faster (19.9%, against 8.2%).
- Boston Scientific kept more of each dollar of sales as operating profit (18.0% operating margin, against 11.8%).
- Boston Scientific turned more of its sales into free cash flow (18.2% FCF margin, against 12.2%).
- Boston Scientific earned a higher return on the capital invested in it (9.6%, against 5.5%).
- Investors pay more for each dollar of Becton Dickinson’s earnings: a P/E of 59.9x against 18.5x for Boston Scientific.
| Latest fiscal year | BDX · FY25 | BSX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $54.7B | $67.4B |
| Revenue | $21.8B | $20.1B |
| Free cash flow | $2.7B | $3.7B |
| Net income | $1.7B | $2.9B |
| Growth | ||
| Revenue growth | 8.2% | 19.9% |
| 5-year growth | 6.3% | 15.2% |
| Share count change | −0.9% | 0.6% |
| Profitability | ||
| Gross margin | 45.4% | 69.0% |
| Operating margin | 11.8% | 18.0% |
| Net margin | 7.7% | 14.4% |
| FCF margin | 12.2% | 18.2% |
| Return on capital | 5.5% | 9.6% |
| Return on equity | 6.5% | 12.6% |
| Balance sheet | ||
| Net debt | $17.0B | $9.2B |
| Net debt / EBITDA | 3.4x | 1.8x |
| Dividends and buybacks | $2.2B | $0.0M |
| Valuation & quality | ||
| P/E | 59.9x | 18.5x |
| Piotroski F-score | 6 | 7 |
FY16
BDX $12.5B
BSX $9.1B
FY17
BDX $12.1B
BSX $9.0B
FY18
BDX $16.0B
BSX $9.8B
FY19
BDX $17.3B
BSX $10.7B
FY20
BDX $16.1B
BSX $9.9B
FY21
BDX $19.1B
BSX $11.9B
FY22
BDX $18.9B
BSX $12.7B
FY23
BDX $19.4B
BSX $14.2B
FY24
BDX $20.2B
BSX $16.7B
FY25
BDX $21.8B
BSX $20.1B
BDX
BSX
FY16
BDX 11.5%
BSX 4.9%
FY17
BDX 12.6%
BSX 14.2%
FY18
BDX 9.4%
BSX 15.3%
FY19
BDX 10.2%
BSX 14.1%
FY20
BDX 5.7%
BSX −0.8%
FY21
BDX 11.8%
BSX 10.1%
FY22
BDX 12.1%
BSX 13.0%
FY23
BDX 10.9%
BSX 16.5%
FY24
BDX 11.9%
BSX 15.5%
FY25
BDX 11.8%
BSX 18.0%
BDX
BSX
FY16
BDX $1.9B
BSX $806M
FY17
BDX $1.8B
BSX $1.1B
FY18
BDX $2.0B
BSX −$6.0M
FY19
BDX $2.4B
BSX $1.4B
FY20
BDX $2.8B
BSX $1.1B
FY21
BDX $3.5B
BSX $1.3B
FY22
BDX $1.5B
BSX $938M
FY23
BDX $2.1B
BSX $1.8B
FY24
BDX $3.1B
BSX $2.6B
FY25
BDX $2.7B
BSX $3.7B
BDX
BSX
FY16
BDX —
BSX 3.8%
FY17
BDX —
BSX 5.7%
FY18
BDX 2.7%
BSX 12.5%
FY19
BDX 4.6%
BSX 8.5%
FY20
BDX 2.0%
BSX −0.3%
FY21
BDX 5.6%
BSX 5.0%
FY22
BDX 5.5%
BSX 4.1%
FY23
BDX 5.0%
BSX 7.1%
FY24
BDX 5.1%
BSX 7.3%
FY25
BDX 5.5%
BSX 9.6%
BDX
BSX
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.