BECTON DICKINSON & CO FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$21.8B
Gross margin	45.4%
Operating income	$2.6B
Net income	$1.7B
Diluted EPS	$5.82
Cash & equivalents	$641.0M
Total assets	$55.3B
Long-term debt	$17.6B

Key takeaway

Revenue reached $21.84B with a 45.4% gross margin, but heavy amortization of acquired intangibles ($1.586B) and other costs compressed operating income to $2.579B.

🔒 4 more takeaways in the full analysis

Beneath the surface

Net debt is far larger than headline figures suggest: with only $641M cash against $1.56B current debt and $17.621B long-term debt (total debt ~$19.18B), net debt is roughly $18.5B, a leverage level not evident from the debt figure alone.

🔒 4 more insights a headline reader would miss