BDX Becton, Dickinson and Company Common Stock
$192.83
Price · Aug 24, 2026
Fundamentals as of Aug 6, 2026
52W Range
$128–$193
100% of range
Analyst Rating
HOLD
21 analysts
Price Target
$194
+1% upside
P/E (TTM)
25.3
ROE
6.5%
Net Profit Margin
7.7%
About Becton, Dickinson and Company Common Stock Company overview from Wikipedia
Becton, Dickinson and Company is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain areas.
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Becton, Dickinson and Company (BD; also Becton Dickinson or Becton) is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain areas.
BD is ranked #211 in the 2024 Fortune 500 list based on its revenues for the fiscal year ending September 30, 2023.
History
The company was founded in 1897 in New York City by Maxwell Becton and Fairleigh S. Dickinson. It later moved its headquarters to New Jersey.
In 2004, BD agreed to pay out US$100 million to settle allegations from competitor Retractable Technologies that it had engaged in anti-competitive behavior to prevent the distribution of Retractable's syringes, which are designed to prevent needlestick injury. The lawsuit touched off a series of legal conflicts between the companies. Retractable would accuse BD of patent infringement after BD released a retractable needle of its own. Later Retractable would claim BD was falsely advertising its own brand of retractable needle as the “world’s sharpest needle”.
In October 2014, the company agreed to acquire CareFusion for a price of US$12.2 billion in cash and stock.
In April 2017, Becton, Dickinson and Company announced it would acquire C. R. Bard. The transaction was completed later that year, and the company became a wholly-owned subsidiary of BD, rebranded as Bard.
In May 2021, BD announced that it would spin off its diabetes care business (https://investors.bd.com/news-events/press-releases/detail/85/bd-announces-completion-of-embecta-corp-spinoff). The spinoff was completed on April 1, 2022, to form Embecta Corporation. Embecta Corporation is a standalone public company focused on diabetes care. The name "embecta" represents the company's commitment to people living with diabetes and its corporate heritage, with the "em-" prefix evoking empathy for people living with diabetes and the empowerment of the new company and the "bect" imbibed from Becton. Becton, Dickinson and Company entered into an agreement with Embecta Corporation to be their sole supplier of cannulas through 2032. This agreement protects patents and intellectual properties of both companies ensuring the quality and integrity of Embecta Corporation's cannulas used in their products.
In July 2021, BD announced it would acquire surgical scaffold maker Tepha, after having acquired Velano Vascular earlier the same month.
In 2024, BD announced it would acquire Edwards Lifesciences' critical care unit for $4.2 billion.
Finances
For the fiscal year 2017, Becton Dickinson reported earnings of US$1.030 billion, with an annual revenue of US$12.093 billion, an increase of 10.5% over the previous fiscal cycle. Becton Dickinson's shares traded at over US$192 per share, and its market capitalization was valued at over US$63 billion in November 2018.
Business segments
Currently there are three business segments.
BD Medical
In certain places, BD Medical also offers consulting and analytics related services. BD Medical's Consulting services are primarily targeted at hospitals, healthcare systems and networks of healthcare providers.
BD Life Sciences
Business units include Biosciences and Integrated Diagnostic Solutions.
Offerings include preanalytical solutions for sample management; immunology research, including flow cytometry and multiomics tools; microbiology and molecular diagnostics; lab automation and informatics; and differentiated reagents and assays.
In February 2026, BD Life Sciences was spun out and combined with the businesses of Waters Corporation.
BD Interventional
The company's line of plastic conical screwtop test tubes, known as 'Falcon tubes', is popular and the term is sometimes used as a generic term for such tubes.
Environmental and social track record
As of February 2010, BD was ranked 18th in the EPA Fortune 500 List of Green Power Purchasers. BD was also listed among the top 100 companies in Newsweek's 2009 Green Rankings ranking of the 500 largest American corporations based on environmental performance, policies, and reputation. BD placed third in the health care sector and 83rd overall. In addition, BD has been a component of the Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index for the four and five consecutive years, respectively.
Pfitzer et al. (2013) identify BD's development of a needleless injection system as an example of leading businesses' role in creating shared value.
Health and safety issues
In April 2016, the Occupational Safety and Health Administration fined BD US$112,700 for safety violations. They found repeat and serious violations of health and safety law that had resulted in two employees having partial finger amputations.
In 2020, C.R. Bard, Inc. and its parent company BD were fined $60 million USD for failing to adequately inform patients about health risks related to their transvaginal mesh devices.
Recalls
2007 Discardit II incident in Poland
In mid-2007, the firm's Discardit II series of syringes numbered 0607186 was withdrawn from hospitals and other medical services around Poland, about half a year after the discovery of remains of dark dust in some syringes, which were alleged to have been from this series. The newspaper Dziennik Online claimed that other series such as 06022444, 0603266, and 0607297 were also suspected of being contaminated. BD recalled and tested the syringes in question, and revealed sterile particulates in 0.013 percent of the products.
2010 Q-Syte Luer and IV Catheter partial recall
In February 2010 BD announced a voluntary product recall of certain lots of BD Q-Syte Luer Access Devices and BD Nexiva Closed IV Catheter Systems. BD stated that the use of the affected devices may cause an air embolism or leakage of blood and/or therapy, which may result in serious injury or death. The approximately 2.8 million BD Q-Syte and 2.9 million BD Nexiva units containing 5 million BD Q-Syte devices that were recalled were distributed in the United States, Asia, Canada, Europe, Mexico, the Middle East, South Africa, and South America. The recall was initiated on Oct. 28, 2009 after BD received complaints of problems due to air entry through a part of the device. BD stated that the cause of the problem was manufacturing deviation and claimed that it corrected the problem. BD announced that it notified customers about the recall by letter and has been working with the U.S. Food and Drug Administration and worldwide health agencies to coordinate recall activities.
2021 IV Giving Sets
In March 2021 BD announced a recall of infusion sets for CC, GP, VP, GW/GW800, SE, and IVAC 590 Alaris Pumps and gravity infusion sets and connectors following the news that a supplier falsified sterilisation documents going back ten years.
Lawsuits
In October 2024, BD agreed to settle around 38,000 US lawsuits brought by plaintiffs who claimed they were injured by BD's hernia meshes.
In December 2025, BD was sued by Tela Bio Inc., makers of a ovine forestomach matrix hernia mesh, who alleged that BD engaged in anticompetitive practices to push Tela out of the market for surgical meshes while raising prices for providers and patients.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
BDX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$192.83
Market Cap
—
P/E (TTM)
25.3
EPS (TTM)
$5.82
Revenue (TTM)
$21.84B
Div Yield
—
ROE
6.5%
Debt/Equity
0.7
52W Range
$128 – $193
BDX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$21.84B
2016-09-30
→
2025-09-30
EPS
$5.82
2016-09-30
→
2025-09-30
Free Cash Flow
$2.67B
2016-09-30
→
2025-09-30
Margins
7.7%
2016-09-30
→
2020-09-30
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BDX
Peer Median
P/E (TTM)
25.3
26.3
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BDX
Peer Median
Operating Margin
11.8%
—
Net Profit Margin
7.7%
15.6%
ROA
3.0%
7.6%
ROE
6.5%
15.0%
ROIC
5.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BDX
Peer Median
Debt / Equity
0.7
—
Current Ratio
1.1
1.7
Quick Ratio
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BDX
Peer Median
Revenue YoY
8.2%
—
Revenue CAGR 3Y
5.0%
—
Revenue CAGR 5Y
6.3%
—
EPS YoY
-0.68%
—
Net Income YoY
-1.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BDX
Peer Median
Payout Ratio
71.3%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
71.3%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 9, 2026 | $1.0500 |
| March 10, 2026 | $1.0500 |
| Dec. 8, 2025 | $0.8255 |
| Sept. 8, 2025 | $0.8176 |
| June 9, 2025 | $0.8176 |
| March 10, 2025 | $0.8176 |
| Dec. 9, 2024 | $0.8176 |
| Sept. 9, 2024 | $0.7469 |
| June 10, 2024 | $0.7469 |
| March 7, 2024 | $0.7469 |
| Dec. 7, 2023 | $0.7469 |
| Sept. 7, 2023 | $0.7154 |
| June 8, 2023 | $0.7154 |
| March 9, 2023 | $0.7154 |
| Dec. 8, 2022 | $0.7154 |
| Sept. 8, 2022 | $0.6840 |
| June 8, 2022 | $0.6840 |
| March 9, 2022 | $0.6673 |
| Dec. 9, 2021 | $0.6673 |
| Sept. 8, 2021 | $0.6366 |
BDX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 5 23.8%
- Buy 5 23.8%
- Hold 11 52.4%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-20
Median
$192.50
Now
$192.83
Low
$170.00
High
$225.00
Median target
$192.50
-0.2%
Mean target
$194.42
+0.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.23 | $3.17 | 0.06% |
| March 31, 2026 | $2.90 | $2.80 | 0.10% |
| Dec. 31, 2025 | $2.91 | $2.84 | 0.07% |
| Sept. 30, 2025 | $3.96 | $3.96 | -0.00% |
| June 30, 2025 | $3.68 | $3.44 | 0.24% |
| March 31, 2025 | $3.35 | $3.31 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BDX | — | 25.3 | 8.2% | 7.7% | 6.5% | — |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | — |
| ISRG | $201.11B | 72.0 | 20.5% | 28.4% | 16.7% | 66.0% |
| SYK | $134.44B | 41.8 | 11.2% | 12.9% | 15.1% | 64.0% |
| BSX | — | 49.1 | 19.9% | 14.4% | 12.6% | 69.0% |
| EW | $49.50B | 46.6 | 11.6% | 17.7% | 10.6% | 78.0% |
| IDXX | $53.93B | 51.7 | 10.4% | 24.6% | 69.2% | 61.8% |
| DXCM | $25.54B | 31.8 | 15.6% | 17.9% | 31.4% | 60.1% |
| GEHC | — | 18.0 | 4.8% | 10.1% | 22.1% | 40.0% |
| RMD | $28.11B | 18.7 | 9.8% | 26.9% | 23.6% | 61.1% |
| ZBH | $28.66B | 25.3 | 7.2% | 8.6% | 5.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.84B | $20.18B | $19.37B | $18.87B | $19.13B | $16.07B | $17.29B | $15.98B | $12.09B | $12.48B | $10.28B | $8.45B | |
| Cost of Revenue | $11.91B | $11.05B | $11.20B | $10.39B | $10.50B | $9.28B | $9.00B | $8.71B | $6.13B | $6.49B | $5.59B | $4.14B | |
| Gross Profit | · | · | · | · | · | $7.58B | $8.29B | $7.27B | $5.94B | $5.99B | $4.70B | $4.30B | |
| R&D Expense | $1.26B | $1.19B | $1.24B | $1.26B | $1.28B | $1.04B | $1.06B | $1.00B | $770M | $828M | $632M | $550M | |
| SG&A Expense | $5.28B | $4.86B | $4.72B | $4.71B | $4.72B | $4.18B | $4.33B | $4.02B | $2.91B | $3.00B | $2.56B | $2.15B | |
| Operating Expenses | $19.26B | $17.78B | $17.26B | $16.59B | $16.88B | $15.16B | $15.53B | $14.47B | $10.57B | $11.05B | $9.21B | $6.84B | |
| Operating Income | $2.58B | $2.40B | $2.11B | $2.28B | $2.25B | $912M | $1.76B | $1.51B | $1.52B | $1.43B | $1.07B | $1.61B | |
| Interest Expense | $613M | $528M | $452M | $398M | $469M | $528M | $639M | $706M | $521M | $388M | $371M | $135M | |
| Interest Income | $38M | $163M | $49M | $16M | $9M | $7M | $12M | $65M | $76M | $21M | $15M | $46M | |
| Other Non-op | $-123M | $-28M | $-46M | $-117M | $-99M | $23M | $43M | $305M | $-101M | $11M | $21M | $5M | |
| Pretax Income | $1.88B | $2.00B | $1.66B | $1.78B | $1.69B | $414M | $1.18B | $1.17B | $976M | $1.07B | $739M | $1.52B | |
| Income Tax | $203M | $300M | $132M | $148M | $88M | $62M | $-57M | $862M | $-124M | $97M | $44M | $337M | |
| Net Income | $1.68B | $1.71B | $1.48B | $1.78B | $2.09B | $874M | $1.23B | $311M | $1.10B | $976M | $695M | $1.19B | |
| EPS (Basic) | $5.83 | $5.88 | $4.97 | $5.93 | $6.92 | $2.75 | $4.01 | $0.62 | $4.70 | $4.59 | $3.43 | $6.13 | |
| EPS (Diluted) | $5.82 | $5.86 | $4.94 | $5.88 | $6.85 | $2.71 | $3.94 | $0.60 | $4.60 | $4.49 | $3.35 | $5.99 | |
| Shares (Basic) | 287,648,000 | 289,763,000 | 286,282,000 | 285,005,000 | 289,288,000 | 278,971,000 | 269,943,000 | 258,354,000 | 218,943,000 | 212,702,000 | 202,537,000 | 193,299,000 | |
| Shares (Diluted) | 288,509,000 | 291,009,000 | 288,392,000 | 287,364,000 | 292,089,000 | 282,402,000 | 274,775,000 | 264,621,000 | 223,588,000 | 217,536,000 | 207,509,000 | 197,709,000 | |
| EBITDA | $5.04B | $4.68B | $4.40B | $4.51B | $5.07B | $3.64B | $4.01B | $3.48B | $2.57B | $2.54B | $1.97B | $2.17B |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $567M | $1.72B | $1.42B | $1.01B | $2.28B | $2.83B | $536M | $1.14B | $14.18B | $1.54B | $1.42B | $1.86B | |
| Receivables | $2.40B | $3.03B | $2.53B | $2.19B | $2.35B | $2.40B | $2.35B | $2.32B | $1.74B | $1.62B | $1.62B | $1.19B | |
| Inventory | $3.15B | $3.84B | $3.27B | $3.22B | $2.74B | $2.74B | $2.58B | $2.45B | $1.82B | $1.72B | $1.96B | $1.50B | |
| Other Current Assets | $1.38B | $1.29B | $1.38B | $1.56B | $1.05B | $891M | $1.12B | $1.25B | $871M | $480M | $563M | $698M | |
| Current Assets | $9.26B | $10.47B | $8.68B | $8.14B | $8.84B | $8.97B | $6.66B | $7.41B | $18.63B | $6.37B | $5.66B | $6.13B | |
| PP&E (Net) | $6.38B | $6.82B | $6.56B | $6.01B | $6.00B | $5.92B | $5.66B | $5.38B | $4.64B | $3.90B | $4.06B | $3.60B | |
| PP&E (Gross) | $13.66B | $14.38B | $13.58B | $12.41B | $12.09B | $11.92B | $11.13B | $10.48B | $9.39B | $8.42B | $8.28B | $7.76B | |
| Accum. Depreciation | $7.27B | $7.56B | $7.02B | $6.40B | $6.09B | $6.00B | $5.47B | $5.11B | $4.75B | $4.52B | $4.22B | $4.16B | |
| Goodwill | $25.96B | $26.46B | $24.52B | $24.62B | $23.89B | $23.60B | $23.38B | $23.60B | $7.56B | $7.42B | $7.54B | $1.09B | |
| Intangibles | $9.23B | $10.87B | $10.90B | $12.26B | $12.73B | $13.77B | · | · | · | · | · | · | |
| Other Non-current Assets | $2.38B | $2.62B | $2.08B | $1.85B | $1.95B | $1.69B | $1.09B | $1.08B | $1.01B | $824M | $717M | $488M | |
| Total Assets | $55.33B | $57.29B | $52.78B | $52.93B | $53.87B | $54.01B | $51.77B | $53.90B | $37.73B | $25.59B | $26.48B | $12.38B | |
| Accounts Payable | $6.11B | $1.90B | $1.64B | $1.70B | $1.74B | $1.35B | $1.09B | $1.11B | $797M | $665M | $631M | $401M | |
| Accrued Liabilities | $3.10B | $3.48B | $2.60B | $2.60B | $2.87B | $2.64B | $2.13B | $2.25B | $1.39B | $1.57B | $1.62B | $1.05B | |
| Current Liabilities | $8.31B | $8.96B | $6.64B | $7.81B | $6.63B | $5.84B | $5.66B | $7.22B | $3.34B | $4.40B | $4.38B | $2.23B | |
| Capital Leases | $704M | $667M | $414M | $384M | $344M | $336M | · | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $1.95B | $130M | |
| Other Non-current Liabilities | $2.63B | $3.56B | $4.58B | $5.05B | $5.21B | $5.75B | $5.68B | $5.74B | $1.61B | $1.68B | $2.43B | $383M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | $12.12B | $3.77B | |
| Total Debt | $17.62B | $17.94B | $14.74B | $13.89B | $17.11B | $17.22B | $18.08B | $18.89B | $18.67B | $10.55B | $12.12B | $3.77B | |
| Common Stock | $371M | $371M | $371M | $365M | $365M | $365M | $347M | $347M | $347M | $333M | $333M | $333M | |
| Retained Earnings | $16.62B | $16.14B | $15.54B | $15.16B | $13.83B | $12.79B | $12.91B | $12.60B | $13.11B | $12.73B | $12.31B | $12.11B | |
| Treasury Stock | $9.81B | $8.81B | $8.30B | $8.33B | $7.72B | $6.14B | $6.19B | $6.24B | $8.43B | $8.21B | $8.24B | $8.60B | |
| AOCI | $-1.90B | $-1.73B | $-1.55B | $-1.49B | $-2.09B | $-2.55B | $-2.28B | $-1.91B | $-1.72B | $-1.93B | $-1.74B | $-1.00B | |
| Stockholders' Equity | $25.39B | $25.89B | $25.80B | $25.28B | $23.68B | $23.77B | $21.08B | $20.99B | $12.95B | $7.63B | $7.16B | $5.05B | |
| Liabilities + Equity | $55.33B | $57.29B | $52.78B | $52.93B | $53.87B | $54.01B | $51.77B | $53.90B | $37.73B | $25.59B | $26.48B | $12.45B |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.46B | $2.29B | $2.29B | $2.23B | $2.23B | $2.12B | $2.25B | $1.98B | $1.09B | $1.11B | $891M | $562M | |
| Stock-based Comp | $258M | $247M | $259M | $233M | $229M | $236M | $261M | $322M | $174M | $196M | $166M | $113M | |
| Deferred Tax | $-474M | $-211M | $-622M | $-129M | $-280M | $-285M | $-633M | $-262M | $-74M | $-519M | $-274M | $-94M | |
| Amort. of Intangibles | $1.59B | $1.47B | $1.47B | $1.43B | $1.40B | $1.38B | $1.50B | $1.25B | $553M | $552M | $346M | $84M | |
| Restructuring | $275M | $387M | $239M | $123M | $44M | $84M | · | · | $85M | $526M | $271M | · | |
| Other Non-cash | $-494M | $-183M | $-419M | $-1.64B | $333M | $553M | $216M | $516M | $262M | $792M | $252M | $-20M | |
| Operating Cash Flow | $3.43B | $3.84B | $2.99B | $2.47B | $4.13B | $2.94B | $3.33B | $2.87B | $2.55B | $2.56B | $1.73B | $1.75B | |
| CapEx | $760M | $725M | $874M | $973M | $1.19B | $769M | $957M | $895M | $727M | $693M | $596M | $592M | |
| Investing Cash Flow | $-818M | $-5.51B | $-716M | · | $-1.88B | $-1.23B | $-741M | $-15.73B | $-883M | $-669M | $-8.32B | $-948M | |
| Debt Issued | $0 | $4.52B | $1.66B | $497M | $4.87B | $3.39B | $2.22B | $5.09B | $11.46B | $0 | $6.16B | $0 | |
| Net Debt Issued | $-1.79B | $3.38B | $-493M | $-308M | $-243M | $-1.27B | $-2.52B | $1.09B | $7.48B | $-752M | $6.16B | · | |
| Stock Repurchased | $1.00B | $500M | $0 | $500M | $1.75B | $0 | $0 | $0 | $220M | $0 | $0 | $400M | |
| Net Stock Activity | $-1.00B | $-500M | $0 | $-500M | $-1.75B | · | $0 | $0 | $-220M | $0 | $0 | $-400M | |
| Dividends Paid | $1.20B | $1.10B | $1.11B | $1.08B | $1.05B | $1.03B | $984M | $927M | $677M | $562M | $485M | $421M | |
| Financing Cash Flow | $-3.62B | $2.09B | $-1.96B | · | $-3.31B | $22M | $-3.22B | $-58M | $10.98B | $-1.76B | $6.19B | $-807M | |
| Net Change in Cash | $-1.00B | $375M | $322M | $-1.23B | $-525M | $2.33B | $-646M | $-12.94B | $12.64B | $117M | $-436M | $-29M | |
| Taxes Paid | $599M | $653M | $629M | $532M | $671M | $523M | $536M | $235M | $265M | $218M | $240M | $330M | |
| Free Cash Flow | $2.67B | $3.12B | $2.12B | $1.50B | $3.42B | $2.73B | $2.37B | $1.97B | $1.82B | $1.87B | $1.13B | $1.15B | |
| Levered FCF | $2.12B | $2.67B | $1.70B | $1.13B | $2.98B | $2.26B | $1.70B | $1.78B | $1.24B | $1.51B | $785M | $1.05B |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | 44.3% | 47.9% | 45.4% | 49.1% | 48.0% | 45.7% | · | |
| Operating Margin | 11.8% | 11.9% | 10.9% | 12.1% | 13.8% | 8.7% | 10.2% | 9.4% | 12.2% | 11.5% | 10.4% | 19.0% | |
| Net Margin | 7.7% | 8.5% | 7.7% | 9.4% | 10.3% | 5.1% | 7.1% | 1.9% | 9.1% | 7.8% | 6.8% | 14.0% | |
| Pretax Margin | 8.6% | 9.9% | 8.6% | 9.4% | 11.1% | 5.8% | 6.8% | 7.3% | 8.1% | 8.6% | 7.2% | 18.0% | |
| EBITDA Margin | 23.1% | 23.2% | 22.7% | 23.9% | 25.1% | 21.2% | 23.2% | 21.7% | 21.2% | 20.4% | 19.1% | 25.7% | |
| ROA | 3.0% | 3.1% | 2.8% | 3.3% | 3.9% | 1.7% | 2.3% | 0.68% | 3.5% | 3.8% | 3.5% | 9.6% | |
| ROE | 6.5% | 6.6% | 5.8% | 7.3% | 8.8% | 3.9% | 5.9% | 1.8% | 10.7% | 13.2% | 11.4% | 23.5% | |
| ROIC | 5.3% | 4.7% | 4.8% | 5.3% | 6.4% | 3.2% | 4.7% | 1.0% | 5.3% | 7.1% | 5.2% | 14.2% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.2 | 1.3 | 1.0 | 1.3 | 1.5 | 1.2 | 1.0 | 5.6 | 1.4 | 1.4 | 2.7 | |
| Quick Ratio | 0.4 | 0.5 | 0.6 | 0.4 | 0.7 | 0.9 | 0.5 | 0.5 | 4.8 | 0.7 | 0.7 | 1.4 | |
| Debt / Equity | 0.7 | 0.7 | 0.6 | 0.5 | 0.7 | 0.7 | 0.9 | 0.9 | 1.4 | 1.4 | 1.7 | 0.7 | |
| LT Debt / Equity | 0.7 | 0.7 | 0.6 | 0.5 | 0.7 | 0.7 | 0.9 | 0.9 | 1.4 | 1.4 | 1.6 | 0.7 | |
| Interest Coverage | 4.2 | 4.5 | 4.7 | 5.7 | 6.0 | 2.8 | 2.8 | 2.1 | 2.8 | 3.7 | 2.9 | 11.9 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.7 | |
| Inventory Turnover | 3.1 | 3.1 | 3.4 | 3.5 | 3.9 | 3.6 | 3.6 | 4.1 | 3.5 | 3.5 | 3.2 | 2.9 | |
| Receivables Turnover | 7.2 | 7.2 | 8.2 | 8.3 | 8.3 | 7.2 | 7.4 | 7.9 | 7.2 | 7.7 | 7.3 | 7.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.2% | 4.2% | 2.7% | -1.4% | 19.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 5.0% | 1.8% | 6.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -0.68% | 18.6% | -16.0% | -14.2% | 152.8% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -0.34% | -5.1% | 22.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 16.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.6% | 14.9% | -16.6% | -15.0% | 139.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -1.9% | -6.6% | 19.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 13.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 3.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $21.84B | $20.18B | $19.37B | $18.87B | $19.13B | $16.07B | $17.29B | $15.98B | $12.09B | $12.48B | $10.28B | $8.45B | |
| Net Income TTM | $1.68B | $1.71B | $1.48B | $1.78B | $2.09B | $874M | $1.23B | $311M | $1.10B | $976M | $695M | $1.19B | |
| P/E | 25.3 | 32.3 | 41.1 | 29.8 | 27.5 | 65.9 | 49.2 | 333.6 | 32.7 | 30.7 | 30.4 | 14.6 | |
| Earnings Yield | 4.0% | 3.1% | 2.4% | 3.4% | 3.6% | 1.5% | 2.0% | 0.30% | 3.1% | 3.3% | 3.3% | 6.9% | |
| Payout Ratio | 71.3% | 64.5% | 75.1% | 60.8% | 50.1% | 117.4% | 79.8% | 298.1% | 61.6% | 57.6% | 69.8% | 35.5% | |
| Annual Payout | $1.20B | $1.10B | $1.11B | $1.08B | $1.05B | $1.03B | $984M | $927M | $677M | $562M | $485M | $421M |
Income Statement 17
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.98B | $4.71B | $5.25B | $5.89B | $4.73B | $4.48B | $5.17B | $5.44B | $4.99B | $5.04B | $4.71B | $5.09B | $4.88B | $4.82B | $4.59B | $4.76B | |
| Cost of Revenue | $2.67B | $2.56B | $2.84B | $3.09B | $2.49B | $2.62B | $2.93B | $2.95B | $2.68B | $2.74B | $2.68B | $3.38B | $2.78B | $2.59B | $2.45B | $2.68B | |
| R&D Expense | $258M | $249M | $306M | $323M | $230M | $232M | $343M | $302M | $299M | $299M | $290M | $281M | $306M | $337M | $313M | $300M | |
| SG&A Expense | $1.26B | $1.21B | $1.39B | $1.37B | $1.16B | $1.12B | $1.32B | $1.25B | $1.20B | $1.19B | $1.21B | $1.14B | $1.19B | $1.21B | $1.19B | $1.18B | |
| Operating Expenses | $4.32B | $4.62B | $4.70B | $5.19B | $3.99B | $4.10B | $4.71B | $4.81B | $4.39B | $4.31B | $4.27B | $4.74B | $4.33B | $4.19B | $4.00B | $4.27B | |
| Operating Income | $663M | $93M | $552M | $698M | $739M | $383M | $453M | $622M | $602M | $734M | $439M | $349M | $549M | $628M | $585M | $489M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $125M | $111M | $113M | $119M | $118M | $102M | $104M | |
| Interest Income | $4M | $9M | $4M | $5M | $4M | $5M | $23M | $55M | $48M | $26M | $34M | $9M | $24M | $10M | $6M | $7M | |
| Other Non-op | $19M | $86M | $-10M | $-36M | $-22M | $-36M | $-16M | $-9M | $-13M | $-2M | $-4M | $-63M | $17M | $8M | $-8M | $-73M | |
| Pretax Income | $554M | $39M | $393M | $509M | $569M | $201M | $306M | $513M | $500M | $633M | $359M | $181M | $471M | $529M | $481M | $320M | |
| Income Tax | $102M | $76M | $11M | $16M | $118M | $43M | $3M | $114M | $13M | $96M | $77M | $28M | $64M | $68M | $-28M | $33M | |
| Net Income | $377M | $-311M | $382M | $493M | $574M | $308M | $303M | $400M | $487M | $537M | $281M | $108M | $407M | $460M | $509M | $288M | |
| EPS (Basic) | $1.37 | $-1.11 | $1.34 | $1.71 | $2.00 | $1.07 | $1.05 | $1.38 | $1.68 | $1.85 | $0.97 | $0.35 | $1.37 | $1.54 | $1.71 | $0.94 | |
| EPS (Diluted) | $1.37 | $-1.11 | $1.34 | $1.71 | $2.00 | $1.07 | $1.04 | $1.37 | $1.68 | $1.85 | $0.96 | $0.35 | $1.36 | $1.53 | $1.70 | $0.92 | |
| Shares (Basic) | 274,788,000 | 280,640,000 | 285,582,000 | -576,320,000 | 287,170,000 | 287,293,000 | 289,505,000 | -579,430,000 | 289,562,000 | 289,518,000 | 290,113,000 | -568,214,000 | 286,317,000 | 284,292,000 | 283,887,000 | -570,364,000 | |
| Shares (Diluted) | 275,158,000 | 280,640,000 | 285,845,000 | -576,840,000 | 287,223,000 | 287,737,000 | 290,389,000 | -580,986,000 | 290,253,000 | 290,344,000 | 291,398,000 | -570,537,000 | 287,944,000 | 285,645,000 | 285,340,000 | -573,955,000 | |
| EBITDA | $1.23B | $656M | $1.17B | · | $882M | $546M | $1.06B | · | $602M | $734M | $1.00B | · | $549M | $628M | $1.15B | · |
Balance Sheet 24
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $708M | $813M | $740M | $641M | $735M | $667M | $711M | $1.72B | $4.46B | $2.35B | $1.18B | · | $923M | $1.98B | $612M | · | |
| Receivables | $2.36B | $2.21B | $2.51B | $2.99B | $2.94B | $3.03B | $2.64B | $3.03B | $2.60B | $2.56B | $2.27B | · | $2.41B | $2.41B | $2.28B | · | |
| Inventory | $3.32B | $3.36B | $4.08B | $3.89B | $3.95B | $3.72B | $3.86B | $3.84B | $3.25B | $3.23B | $3.30B | · | $3.59B | $3.66B | $3.60B | · | |
| Other Current Assets | $1.59B | $1.43B | $1.56B | $1.51B | $1.28B | $1.15B | $1.33B | $1.29B | $1.02B | $1.33B | $1.35B | · | $1.28B | $1.44B | $1.54B | · | |
| Current Assets | $8.14B | $8.01B | $9.19B | $9.26B | $9.00B | $8.67B | $8.66B | $10.47B | $12.21B | $10.34B | $8.16B | · | $8.59B | $9.59B | $8.18B | · | |
| PP&E (Net) | $6.08B | $6.08B | $6.97B | $7.00B | $6.82B | $6.65B | $6.60B | $6.82B | $6.52B | $6.59B | $6.65B | · | $6.47B | $6.36B | $6.25B | · | |
| PP&E (Gross) | $13.60B | $13.55B | $15.24B | $15.11B | $14.85B | $14.41B | $14.16B | $14.38B | $13.92B | $13.93B | $13.90B | · | $13.47B | $13.20B | $12.93B | · | |
| Accum. Depreciation | $7.52B | $7.47B | $8.27B | $8.12B | $8.04B | $7.76B | $7.55B | $7.56B | $7.40B | $7.33B | $7.25B | · | $7.00B | $6.85B | $6.68B | · | |
| Goodwill | $25.94B | $25.95B | $26.62B | $26.61B | $26.60B | $26.44B | $26.33B | $26.46B | $24.55B | $24.57B | $24.60B | $24.52B | $24.58B | $24.78B | $24.76B | $24.62B | |
| Intangibles | $8.02B | $8.35B | $9.01B | $9.39B | $9.77B | $10.12B | $10.47B | $10.87B | $9.86B | $10.21B | $10.57B | · | $11.27B | $11.63B | $11.94B | · | |
| Other Non-current Assets | $2.55B | $2.43B | $3.04B | $3.06B | $2.70B | $2.58B | $2.59B | $2.62B | $2.40B | $2.40B | $2.26B | · | $2.06B | $1.99B | $1.96B | · | |
| Total Assets | $50.73B | $50.83B | $54.84B | $55.33B | $54.90B | $54.47B | $54.66B | $57.29B | $55.58B | $54.16B | $52.27B | · | $53.02B | $54.39B | $53.13B | · | |
| Accounts Payable | $6.11B | $5.93B | $6.14B | $1.97B | $6.35B | $6.09B | $6.35B | $1.90B | $5.41B | $5.31B | $5.52B | · | $5.02B | $5.09B | $5.44B | · | |
| Accrued Liabilities | · | · | · | $3.10B | · | · | · | $3.48B | · | · | · | · | · | · | · | · | |
| Current Liabilities | $9.40B | $8.51B | $8.76B | $8.31B | $8.16B | $7.69B | $7.66B | $8.96B | $6.61B | $7.33B | $7.54B | · | $6.88B | $7.30B | $7.62B | · | |
| Capital Leases | · | · | · | $704M | · | · | · | $667M | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $2.39B | $2.46B | $2.81B | $2.93B | $2.83B | $3.00B | $3.42B | $3.56B | $4.07B | $4.30B | $4.41B | · | $4.37B | $4.47B | $4.86B | · | |
| Total Debt | $13.51B | $14.71B | $16.92B | · | $17.53B | $17.67B | $17.44B | · | $18.13B | $15.99B | $14.09B | · | $14.93B | $16.01B | $14.27B | · | |
| Common Stock | $371M | $371M | $371M | $371M | $371M | $371M | $371M | $371M | $371M | $371M | $371M | · | $371M | $365M | $365M | · | |
| Retained Earnings | $17.51B | $17.39B | $16.70B | $16.62B | $16.43B | $16.15B | $16.14B | $16.14B | $16.02B | $15.80B | $15.54B | · | $15.69B | $15.56B | $15.38B | · | |
| Treasury Stock | $12.06B | $11.66B | $10.06B | $9.81B | $9.56B | $9.56B | $9.43B | $8.81B | $8.81B | $8.81B | $8.83B | · | $8.32B | $8.33B | $8.33B | · | |
| AOCI | $-1.65B | $-1.76B | $-1.86B | $-1.90B | $-1.81B | $-1.72B | $-1.68B | $-1.73B | $-1.58B | $-1.53B | $-1.51B | · | $-1.51B | $-1.57B | $-1.56B | $-1.49B | |
| Stockholders' Equity | $24.42B | $24.13B | $25.28B | $25.39B | $25.47B | $25.24B | $25.20B | $25.89B | $25.87B | $25.65B | $25.33B | · | $25.94B | $25.69B | $25.47B | · | |
| Liabilities + Equity | $50.73B | $50.83B | $54.84B | $55.33B | $54.90B | $54.47B | $54.66B | $57.29B | $55.58B | $54.16B | $52.27B | · | $53.02B | $54.39B | $53.13B | · |
Cash Flow 16
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $564M | $563M | $614M | $629M | $575M | $567M | $607M | $586M | $568M | $571M | $561M | $587M | $571M | $563M | $567M | $581M | |
| Stock-based Comp | $55M | $58M | $91M | $55M | $54M | $59M | $90M | $51M | $53M | $60M | $83M | $58M | $56M | $56M | $89M | $49M | |
| Amort. of Intangibles | $365M | $380M | $397M | $398M | $388M | $387M | $395M | $375M | $362M | $366M | $365M | $367M | $367M | $366M | $365M | $366M | |
| Restructuring | $48M | $482M | $75M | $88M | $58M | $63M | $66M | $125M | $95M | $98M | $69M | $119M | $61M | $33M | $26M | $51M | |
| Other Non-cash | · | · | $-845M | · | · | · | $-677M | · | · | · | $82M | · | · | · | $-1.43B | · | |
| Operating Cash Flow | $776M | $671M | $657M | $1.35B | $1.22B | $164M | $693M | $1.18B | $1.30B | $514M | $855M | $1.32B | $1.08B | $185M | $399M | $973M | |
| CapEx | $143M | $125M | $108M | $352M | $174M | $129M | $105M | $296M | $179M | $134M | $116M | $294M | $191M | $181M | $208M | $315M | |
| Investing Cash Flow | · | · | $-183M | $-494M | $-336M | $-192M | $204M | $-3.94B | $-288M | $-1.06B | $-233M | $137M | $-329M | $-233M | $-291M | · | |
| Net Debt Issued | $-2.00B | $-2.00B | $0 | · | · | · | $-875M | · | · | · | $0 | · | · | · | $-528M | · | |
| Stock Repurchased | $0 | $2.00B | $250M | $250M | $0 | $0 | $750M | $0 | $0 | $0 | $500M | $0 | $0 | $0 | $0 | $500M | |
| Net Stock Activity | · | · | $-250M | · | · | · | $-750M | · | · | · | $-500M | · | · | · | · | · | |
| Dividends Paid | $286M | $290M | $299M | $297M | $299M | $298M | $302M | $275M | $275M | $275M | $275M | $265M | $286M | $282M | $281M | $270M | |
| Financing Cash Flow | · | · | $-302M | $-809M | $-841M | $-39M | $-1.93B | $124M | $1.12B | $1.71B | $-862M | $-997M | $-1.79B | $1.37B | $-534M | · | |
| Net Change in Cash | $-152M | $64M | $174M | $53M | $51M | $-66M | $-1.04B | $-2.63B | $2.09B | $1.16B | $-247M | $456M | $-1.04B | $1.32B | $-415M | $-1.60B | |
| Free Cash Flow | · | · | $549M | · | · | · | $588M | · | · | · | $739M | · | · | · | $191M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | $652M | · | · | · | $83M | · |
Profitability 7
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.3% | 2.0% | 10.5% | · | 16.0% | 10.4% | 8.8% | · | 12.1% | 14.5% | 9.3% | · | 11.2% | 13.0% | 12.8% | · | |
| Net Margin | 7.6% | -6.6% | 7.3% | · | 10.4% | 5.8% | 5.9% | · | 9.8% | 10.6% | 6.0% | · | 8.3% | 9.5% | 11.1% | · | |
| Pretax Margin | 11.1% | 0.83% | 7.5% | · | 12.8% | 6.9% | 5.9% | · | 10.0% | 12.6% | 7.6% | · | 9.7% | 11.0% | 10.5% | · | |
| EBITDA Margin | 24.6% | 13.9% | 22.2% | · | 16.0% | 10.4% | 20.5% | · | 12.1% | 14.5% | 21.2% | · | 11.2% | 13.0% | 25.1% | · | |
| ROA | 0.71% | -0.59% | 0.70% | · | 1.0% | 0.57% | 0.57% | · | 0.90% | 0.99% | 0.53% | · | 0.77% | 0.84% | 0.96% | · | |
| ROE | 1.5% | -1.3% | 1.5% | · | 2.2% | 1.2% | 1.2% | · | 1.9% | 2.1% | 1.1% | · | 1.6% | 1.8% | 2.1% | · | |
| ROIC | 1.4% | -0.23% | 1.3% | · | 1.7% | 1.1% | 1.1% | · | 1.3% | 1.5% | 0.87% | · | 1.2% | 1.3% | 1.6% | · |
Liquidity & Solvency 5
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.9 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 1.8 | 1.4 | 1.1 | · | 1.2 | 1.3 | 1.1 | · | |
| Quick Ratio | 0.3 | 0.4 | 0.4 | · | 0.5 | 0.5 | 0.4 | · | 1.1 | 0.7 | 0.5 | · | 0.5 | 0.6 | 0.4 | · | |
| Debt / Equity | 0.6 | 0.6 | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | |
| LT Debt / Equity | 0.6 | 0.6 | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 5.9 | 4.0 | · | 4.6 | 5.3 | 5.7 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | |
| Inventory Turnover | 0.7 | 0.7 | 0.7 | · | 0.8 | 0.9 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.8 | 0.7 | 0.7 | · | |
| Receivables Turnover | 1.9 | 1.8 | 2.0 | · | 2.0 | 1.9 | 2.1 | · | 2.0 | 2.0 | 2.1 | · | 2.1 | 2.0 | 2.1 | · |
Valuation (TTM) 5
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $19.68B | $19.95B | $21.20B | · | $20.94B | $20.48B | $19.91B | · | $19.62B | $19.45B | $18.99B | · | $18.93B | $18.80B | $18.70B | · | |
| Net Income TTM | $1.02B | $953M | $1.57B | · | $1.67B | $1.64B | $1.61B | · | $1.71B | $1.69B | $1.66B | · | $1.74B | $1.78B | $2.00B | · | |
| P/E | 42.0 | 47.6 | 28.0 | · | 23.4 | 31.9 | 32.3 | · | 31.4 | 34.1 | 34.5 | · | 36.0 | 32.9 | 30.0 | · | |
| Earnings Yield | 2.4% | 2.1% | 3.6% | · | 4.3% | 3.1% | 3.1% | · | 3.2% | 2.9% | 2.9% | · | 2.8% | 3.0% | 3.3% | · | |
| Payout Ratio | · | · | 78.3% | · | · | · | 99.7% | · | · | · | 97.9% | · | · | · | 55.2% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $21.84B | $20.18B | $19.37B | $18.87B | $19.13B |
| Operating Margin % | 11.8% | 11.9% | 10.9% | 12.1% | 13.8% |
| Net Income | $1.68B | $1.71B | $1.48B | $1.78B | $2.09B |
| Diluted EPS | $5.82 | $5.86 | $4.94 | $5.88 | $6.85 |
Balance Sheet
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.7 | 0.7 | 0.6 | 0.5 | 0.7 |
| Current Ratio | 1.1 | 1.2 | 1.3 | 1.0 | 1.3 |
| Quick Ratio | 0.4 | 0.5 | 0.6 | 0.4 | 0.7 |
Cash Flow
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $2.67B | $3.12B | $2.12B | $1.50B | $3.42B |
Latest News Recent headlines mentioning this company
- Jim Cramer on Becton, Dickinson: “I Think You Buy Some and Then You Wait”
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- Jim Cramer on Becton, Dickinson: “The Company Showed Excellent Execution Across the Board”
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Institutional owners (13F) 1,565 filers · $23.0B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 126 (-26 vs prior Q) | 141 (-43 vs prior Q) | 533 (-18 vs prior Q) | 523 (-12 vs prior Q) | +5.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $2,722,098,919 | 17,987,834 | 11.82% | Shares |
| STATE STREET CORP | $2,269,959,685 | 15,000,064 | 9.86% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,266,036,001 | 14,974,136 | 9.84% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,091,146,340 | 7,234,861 | 4.74% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $932,773,605 | 6,163,838 | 4.05% | Shares |
| GREENHAVEN ASSOCIATES INC | $859,812,872 | 5,681,708 | 3.73% | Shares |
| NORGES BANK | $630,973,916 | 4,169,523 | 2.74% | Shares |
| AMERICAN CENTURY COMPANIES INC | $556,370,023 | 3,676,534 | 2.42% | Shares |
| Clearbridge Investments, LLC | $486,953,464 | 3,217,825 | 2.11% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $385,001,377 | 2,544,118 | 1.67% | Shares |
| HARRIS ASSOCIATES L P | $355,771,231 | 2,350,963 | 1.54% | Shares |
| First Pacific Advisors, LP | $319,426,456 | 2,110,794 | 1.39% | Shares |
| Longview Partners (Guernsey) LTD | $255,761,774 | 1,690,093 | 1.11% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $246,946,383 | 1,631,842 | 1.07% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $234,270,795 | 1,548,079 | 1.02% | Shares |
| MACKENZIE FINANCIAL CORP | $216,917,330 | 1,433,406 | 0.94% | Shares |
| Veritas Asset Management LLP | $210,852,478 | 1,393,329 | 0.92% | Shares |
| JARISLOWSKY, FRASER Ltd | $175,028,282 | 935,130 | 0.76% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $167,650,789 | 1,107,849 | 0.73% | Shares |
| ProShare Advisors LLC | $162,283,113 | 1,072,379 | 0.70% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $156,784,054 | 1,036,041 | 0.68% | Shares |
| Focus Partners Wealth | $144,422,511 | 954,318 | 0.63% | Shares |
| Findlay Park Partners LLP | $143,945,096 | 951,200 | 0.63% | Shares |
| COOKE & BIELER LP | $140,226,313 | 926,626 | 0.61% | Shares |
| RAYMOND JAMES FINANCIAL INC | $135,204,343 | 893,440 | 0.59% | Shares |
| M&G PLC | $134,044,663 | 887,713 | 0.58% | Shares |
| FIDUCIARY MANAGEMENT INC /WI/ | $125,873,419 | 831,781 | 0.55% | Shares |
| Cullen Capital Management, LLC | $124,804,866 | 824,720 | 0.54% | Shares |
| Swiss National Bank | $121,639,357 | 803,802 | 0.53% | Shares |
| BANK OF AMERICA CORP /DE/ | $109,436,862 | 723,167 | 0.48% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $107,392,091 | 709,655 | 0.47% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $106,856,080 | 706,113 | 0.46% | Shares |
| GOLDMAN SACHS GROUP INC | $106,367,473 | 702,884 | 0.46% | Shares |
| Legal & General Group Plc | $105,651,343 | 698,152 | 0.46% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $105,208,376 | 496,758 | 0.46% | Shares |
| VANGUARD GROUP INC | $102,900,766 | 530,225 | 0.45% | Shares |
| Liontrust Investment Partners LLP | $102,080,408 | 674,555 | 0.44% | Shares |
| BARCLAYS PLC | $97,089,091 | 641,572 | 0.42% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $96,682,770 | 638,887 | 0.42% | Shares |
| DAVENPORT & Co LLC | $95,832,076 | 628,589 | 0.42% | Shares |
| Vanguard Global Advisers, LLC | $91,460,069 | 604,375 | 0.40% | Shares |
| BlackRock, Inc. | $90,571,308 | 598,502 | 0.39% | Shares |
| National Pension Service | $90,290,591 | 596,647 | 0.39% | Shares |
| 1832 Asset Management L.P. | $89,099,472 | 588,776 | 0.39% | Shares |
| EVERETT HARRIS & CO /CA/ | $84,132,408 | 555,953 | 0.37% | Shares |
| California Public Employees Retirement System | $82,720,459 | 546,623 | 0.36% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $81,543,868 | 538,848 | 0.35% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $76,741,410 | 507,113 | 0.33% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $74,425,607 | 473,355 | 0.32% | Shares |
| RHUMBLINE ADVISERS | $69,490,510 | 459,199 | 0.30% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $69,072,023 | 458,250 | 0.30% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $68,065,813 | 449,784 | 0.30% | Shares |
| JANUS HENDERSON GROUP PLC | $67,523,210 | 429,455 | 0.29% | Shares |
| ASSETMARK, INC | $66,195,056 | 437,422 | 0.29% | Shares |
| PRUDENTIAL FINANCIAL INC | $65,722,619 | 434,300 | 0.29% | Shares |
| LPL Financial LLC | $62,882,601 | 415,533 | 0.27% | Shares |
| River Road Asset Management, LLC | $62,597,806 | 413,651 | 0.27% | Shares |
| Gotham Asset Management, LLC | $56,207,745 | 371,425 | 0.24% | Shares |
| AMERIPRISE FINANCIAL INC | $55,861,167 | 369,130 | 0.24% | Shares |
| Nuveen Asset Management, LLC | $51,685,297 | 227,819 | 0.22% | Shares |
| ALLIANCEBERNSTEIN L.P. | $51,666,564 | 328,605 | 0.22% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $48,832,980 | 322,692 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $48,501,265 | 320,500 | 0.21% | Call option |
| Balyasny Asset Management L.P. | $47,987,802 | 317,107 | 0.21% | Shares |
| PFA Pension, Forsikringsaktieselskab | $46,772,834 | 309,078 | 0.20% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $46,640,815 | 308,206 | 0.20% | Shares |
| Vest Financial, LLC | $46,231,769 | 305,503 | 0.20% | Shares |
| James Hambro & Partners LLP | $44,732,855 | 295,686 | 0.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $44,466,656 | 293,839 | 0.19% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $43,163,402 | 285,227 | 0.19% | Shares |
| NEUBERGER BERMAN GROUP LLC | $42,589,065 | 280,319 | 0.18% | Shares |
| FMR LLC | $42,291,821 | 279,467 | 0.18% | Shares |
| First Eagle Investment Management, LLC | $41,653,917 | 275,252 | 0.18% | Shares |
| Invenomic Capital Management LP | $41,340,632 | 273,182 | 0.18% | Shares |
| ZACKS INVESTMENT MANAGEMENT | $39,662,458 | 262,091 | 0.17% | Shares |
| AMI ASSET MANAGEMENT CORP | $38,930,771 | 257,257 | 0.17% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $38,536,481 | 254,652 | 0.17% | Shares |
| Squarepoint Ops LLC | $38,359,885 | 253,485 | 0.17% | Shares |
| STRS OHIO | $38,341,877 | 253,366 | 0.17% | Shares |
| 683 Capital Management, LLC | $37,832,500 | 250,000 | 0.16% | Shares |
| Eurizon Capital SGR S.p.A. | $36,515,647 | 241,235 | 0.16% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $36,203,433 | 239,235 | 0.16% | Shares |
| AVIVA PLC | $36,174,680 | 239,045 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $35,441,486 | 234,200 | 0.15% | Call option |
| Mawer Investment Management Ltd. | $35,092,670 | 231,895 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $33,882,787 | 223,900 | 0.15% | Put option |
| TD Asset Management Inc | $32,957,404 | 217,785 | 0.14% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $32,502,506 | 214,779 | 0.14% | Shares |
| UBS Group AG | $32,325,753 | 213,611 | 0.14% | Shares |
| BANK OF MONTREAL /CAN/ | $30,124,355 | 199,064 | 0.13% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $29,442,037 | 193,609 | 0.13% | Shares |
| KLP KAPITALFORVALTNING AS | $29,188,531 | 192,880 | 0.13% | Shares |
| Swedbank AB | $28,764,201 | 190,076 | 0.12% | Shares |
| United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund | $28,737,567 | 189,900 | 0.12% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $28,516,700 | 182,893 | 0.12% | Shares |
| Cerity Partners LLC | $27,848,462 | 184,026 | 0.12% | Shares |
| CACTI ASSET MANAGEMENT LLC | $27,284,194 | 180,296 | 0.12% | Shares |
| Cardinal Capital Management, Inc. | $26,317,472 | 167,382 | 0.11% | Shares |
| APG Asset Management N.V. | $26,264,286 | 198,427 | 0.11% | Shares |
| Quantinno Capital Management LP | $26,164,445 | 172,896 | 0.11% | Shares |
Company insiders 66 insiders · 19 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher Delorefice | EVP & Chief Financial Officer | Sept. 1, 2025 F | 21,221 | 0 | 0 | $0 |
| Michael Feld | EVP, Chief Revenue Officer | July 27, 2026 S | 20,934 | 0 | 4 | $-45,581 |
| Bilal Muhsin | EVP & President Connected Care | July 2, 2026 F | 41,359 | 0 | 0 | $0 |
| Michael David Garrison | EVP & Pres Med.Essntl&BioPharm | June 24, 2026 S | 13,172 | 0 | 2 | $-326,854 |
| Peter Menziuso | EVP and President, BDI | June 1, 2026 A | 14,258 | 0 | 0 | $0 |
| Richard Byrd | EVP & President Interventional | Sept. 1, 2025 F | 6,736 | 0 | 0 | $0 |
| David Shan | EVP and Chief ISC Officer | June 2, 2025 S | 4,575 | 0 | 0 | $0 |
| Shana Carol Neal | EVP and Chief People Officer | April 4, 2025 F | 13,528 | 0 | 0 | $0 |
| Michelle Quinn | EVP and General Counsel | Nov. 26, 2024 A | 6,927 | 0 | 0 | $0 |
| Pavan Kumar Mocherla | EVP & President, Greater Asia | Nov. 26, 2024 F | 2,847 | 0 | 0 | $0 |
| Antoine C Ezell | EVP, President Americas & CMO | Nov. 26, 2024 A | 11,970 | 0 | 0 | $0 |
| Thomas J Spoerel | SVPController & Chief Acct Off | July 1, 2024 F | 1,928 | 0 | 0 | $0 |
| David Hickey | EVP & President, Life Sciences | Nov. 26, 2023 A | 5,862 | 0 | 0 | $0 |
| Samrat S. Khichi | EVP and General Counsel | Dec. 21, 2022 G | 9,251 | 0 | 0 | $0 |
| Rishi Grover | EVP and Chief ISC Officer | July 8, 2022 A | 9,439 | 0 | 0 | $0 |
| James Lim | Executive Vice President | June 17, 2022 A | 23,941 | 0 | 0 | $0 |
| Betty D Larson | EVP HR & CHRO | Feb. 25, 2022 M | 5,872 | 0 | 0 | $0 |
| Simon D Campion | EVP and Segment President | Feb. 11, 2022 G | 10,319 | 0 | 0 | $0 |
| Alexandre Conroy | EVP of Integrated Supply Chain | Feb. 3, 2022 M | 21,260 | 0 | 0 | $0 |
| Gregory Hayes | Director | Aug. 11, 2025 P | 6,046 | 0 | 0 | $0 |
| Christopher Ian Montague Jones | Director | Aug. 7, 2025 A | 22,701 | 0 | 0 | $0 |
| Bertram L Scott | Director | Feb. 12, 2025 S | 36,033 | 0 | 0 | $0 |
| Jeffrey William Henderson | Director | Feb. 10, 2025 P | 8,015 | 0 | 0 | $0 |
| Joanne Waldstreicher | Director | Jan. 28, 2025 A | 2,270 | 0 | 0 | $0 |
| William M Brown | Director | Jan. 28, 2025 A | 3,486 | 0 | 0 | $0 |
| Catherine M Burzik | Director | Jan. 28, 2025 A | 14,264 | 0 | 0 | $0 |
| Andrew R Eckert | Director | Jan. 28, 2025 A | 9,170 | 0 | 0 | $0 |
| Timothy M Ring | Director | Jan. 28, 2025 A | 57,915 | 0 | 0 | $0 |
| LARSEN MARSHALL O | Director | Jan. 24, 2023 A | 28,919 | 0 | 0 | $0 |
| Claire Pomeroy | Director | Jan. 25, 2022 A | 9,982 | 0 | 0 | $0 |
| David F Melcher | Director | Jan. 25, 2022 A | 6,180 | 0 | 0 | $0 |
| BECTON DICKINSON & CO | 10% owner | Feb. 9, 2026 J | 0 | 0 | 0 | $0 |
| Thomas E Polen Jr | — | Aug. 13, 2026 M | 110,163 | 0 | 2 | $-1,172,631 |
| Roland Goette | — | Aug. 11, 2026 S | 14,856 | 0 | 1 | $-440,888 |
| Carrie L Byington | — | Aug. 6, 2026 A | 3,834 | 0 | 0 | $0 |
| Robert Luther Huffines | — | Aug. 6, 2026 A | — | 0 | 0 | $0 |
| Claire Fraser | — | Sept. 10, 2025 S | 22,226 | 0 | 1 | $-171,938 |
| Alfred Sommer | — | Aug. 8, 2012 M | 16,228 | 0 | 0 | $0 |
| Jeffrey S Sherman | — | Aug. 3, 2012 M | 20,908 | 0 | 0 | $0 |
| Edward J Ludwig | — | Feb. 27, 2012 S | 97,188 | 0 | 0 | $0 |
| Donna M Boles | — | Feb. 17, 2012 S | 12,490 | 0 | 0 | $0 |
| Wilard J Overlock JR | — | Feb. 13, 2012 M | 26,037 | 0 | 0 | $0 |
| Henry P Becton JR | — | Feb. 13, 2012 M | 125,357 | 0 | 0 | $0 |
| Gary A Mecklenburg | — | Jan. 31, 2012 A | 14,873 | 0 | 0 | $0 |
| Edward Degraan | — | Jan. 31, 2012 A | 16,228 | 0 | 0 | $0 |
| James F Orr | — | Jan. 31, 2012 A | 17,228 | 0 | 0 | $0 |
| Adel Mahmoud | — | Jan. 31, 2012 A | 11,479 | 0 | 0 | $0 |
| Basil Anderson | — | Jan. 31, 2012 A | 14,873 | 0 | 0 | $0 |
| Gary M Cohen | — | Dec. 15, 2011 S | 66,902 | 0 | 0 | $0 |
| David V Elkins | — | Dec. 2, 2011 I | 9,115 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | Sept. 8, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Sept. 1, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Aug. 25, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Aug. 16, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Aug. 14, 2006 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 205 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IHI · iShares Trust | 5.12% | 939,939 SH | Aug. 21, 2026 | Daily |
| LBAY · Tidal Trust I | 3.45% | 4,137 NS | May 31, 2026 | N-PORT |
| MDPL · Northern Lights Fund Trust IV | 3.32% | 13,719 NS | May 31, 2026 | N-PORT |
| EQTY · Valued Advisers Trust | 3.23% | 284,107 NS | April 30, 2026 | N-PORT |
| FLV · AMERICAN CENTURY ETF TRUST | 3.18% | 76,266 NS | May 31, 2026 | N-PORT |
| FPAG · Investment Managers Series Trust III | 2.70% | 96,460 NS | June 30, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 2.42% | 23,756 SH | Aug. 21, 2026 | Daily |
| FEGE · RBB Fund Trust | 2.07% | 272,648 NS | May 31, 2026 | N-PORT |
| MDEV · First Trust Exchange-Traded Fund VI | 2.01% | 255 NS | June 30, 2026 | N-PORT |
| RSPH · Invesco Exchange-Traded Fund Trust | 1.84% | 80,217 SH | Aug. 21, 2026 | Daily |
| FXH · First Trust Exchange-Traded AlphaDE… | 1.64% | 96,279 NS | April 30, 2026 | N-PORT |
| EPOL · iShares Trust | 1.54% | 69,178 SH | Aug. 21, 2026 | Daily |
| ANEW · ProShares Trust | 1.53% | 802 NS | May 31, 2026 | N-PORT |
| TMDV · ProShares Trust | 1.39% | 416 NS | May 31, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.38% | 312,905 NS | April 30, 2026 | N-PORT |
| NOBL · ProShares Trust | 1.38% | 1,035,312 NS | May 31, 2026 | N-PORT |
| SWP · Manager Directed Portfolios | 1.05% | 11,025 NS | May 31, 2026 | N-PORT |
| MMID · MFS Active Exchange Traded Funds Tr… | 1.02% | 2,358 NS | May 31, 2026 | N-PORT |
| IYH · iShares Trust | 0.82% | 169,596 SH | Aug. 21, 2026 | Daily |
| WBIG · Absolute Shares Trust | 0.80% | 1,453 NS | June 30, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.75% | 4,537 NS | May 29, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.72% | 1,769,988 SH | Aug. 19, 2026 | Daily |
| IMCV · iShares Trust | 0.71% | 44,851 SH | Aug. 21, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.69% | 131,388 NS | April 30, 2026 | N-PORT |
| RGEF · Tidal Trust III | 0.68% | 36,445 NS | April 30, 2026 | N-PORT |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.66% | 57,591 NS | April 30, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.64% | 856,811 SH | Aug. 19, 2026 | Daily |
| KNGZ · First Trust Exchange-Traded Fund VI | 0.63% | 2,591 NS | June 30, 2026 | N-PORT |
| IXJ · iShares Trust | 0.62% | 144,713 SH | Aug. 21, 2026 | Daily |
| CURE · Direxion Shares ETF Trust | 0.61% | 5,676 NS | April 30, 2026 | N-PORT |
| RXL · ProShares Trust | 0.61% | 2,969 NS | May 31, 2026 | N-PORT |
| SNPD · DBX ETF Trust | 0.59% | 105 NS | May 29, 2026 | N-PORT |
| IWS · iShares Trust | 0.51% | 427,468 SH | Aug. 21, 2026 | Daily |
| PAPI · Morgan Stanley ETF Trust | 0.50% | 13,084 NS | June 30, 2026 | N-PORT |
| DIVB · iShares Trust | 0.42% | 43,317 SH | Aug. 21, 2026 | Daily |
| FVD · First Trust Exchange-Traded Fund | 0.42% | 222,746 NS | June 30, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.40% | 5,971,067 SH | Aug. 19, 2026 | Daily |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.39% | 17,734,000 | Aug. 21, 2026 | Daily |
| FDLO · FIDELITY COVINGTON TRUST | 0.38% | 36,058 NS | April 30, 2026 | N-PORT |
| CVMC · Morgan Stanley ETF Trust | 0.38% | 2,577 NS | June 30, 2026 | N-PORT |
| IWR · iShares Trust | 0.38% | 1,157,152 SH | Aug. 21, 2026 | Daily |
| VLUE · iShares Trust | 0.38% | 195,522 SH | Aug. 21, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.37% | 10,309 SH | Aug. 19, 2026 | Daily |
| HUSV · First Trust Exchange-Traded Fund III | 0.36% | 1,753 NS | April 30, 2026 | N-PORT |
| IMCB · iShares Trust | 0.35% | 31,895 SH | Aug. 21, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.34% | 9,312 NS | May 31, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.33% | 18,654 SH | Aug. 19, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.33% | 3,038 NS | April 30, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.31% | 31,254 NS | April 30, 2026 | N-PORT |
| DGRO · iShares Trust | 0.31% | 712,816 SH | Aug. 21, 2026 | Daily |