What is Becton Dickinson & Co worth?
With the base-case assumptions below, a discounted cash flow model on Becton Dickinson & Co's reported free cash flow gives $140.43 per share. The share price was $183.82 on September 25, 2026, 31% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 1.5% | 10.0% | $71.14 | -61% |
| Base | 6.5% | 9.0% | $140.43 | -24% |
| Bull | 11.5% | 8.0% | $278.59 | +52% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $191.61 | $207.24 | $226.34 | $250.21 | $280.91 |
| 8.0% | $153.42 | $163.55 | $175.53 | $189.90 | $207.47 |
| 9.0% | $125.51 | $132.44 | $140.43 | $149.76 | $160.78 |
| 10.0% | $104.25 | $109.17 | $114.76 | $121.14 | $128.50 |
| 11.0% | $87.53 | $91.14 | $95.18 | $99.72 | $104.87 |
Where the presets come from
Base: years 1 to 5 grow at Becton Dickinson & Co's revenue growth rate over the last 5 fiscal years (6.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions