Becton DickinsonBDX +2.44%76 ROC (Joel Greenblatt) % is 9.05% as of Mar. 2026, which is 69% below its 10-year median of 28.80. GuruFocus rates BDX with a GF Score™ of 76/100 and a GF Value™ of $191.05 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 841 Medical Devices & Instruments companies, Becton Dickinson ranks better than 77.53% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Becton Dickinson's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.05%.
The historical rank and industry rank for Becton Dickinson's ROC (Joel Greenblatt) % or its related term are showing as below:
BDX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 13.15 Med: 28.8 Max: 32.41
Current: 26.38
During the past 13 years, Becton Dickinson's highest ROC (Joel Greenblatt) % was 32.41%. The lowest was 13.15%. And the median was 28.80%.
BDX's ROC (Joel Greenblatt) % is ranked better than 77.53% of 841
companies
in the Medical Devices & Instruments industry
Industry Median: 4.13
vs BDX: 26.38
Becton Dickinson's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 10.90% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Becton Dickinson ROC (Joel Greenblatt) % Related Terms
Becton Dickinson ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Becton Dickinson's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BDX vs MDLN, RMD, WST: ROC (Joel Greenblatt) % Comparison
For the Medical Instruments & Supplies subindustry, Becton Dickinson's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Becton Dickinson ROC (Joel Greenblatt) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Becton Dickinson's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Becton Dickinson's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 9.05% mean?
Becton Dickinson (BDX) has a ROC (Joel Greenblatt) % of 9.05% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Becton Dickinson and its competitors. This is 69% below median its historical median of 28.80. Over the past decade, Becton Dickinson's ROC (Joel Greenblatt) % has ranged from 13.15 to 32.41. According to the industry distribution chart, Becton Dickinson ranks #189 out of 841 companies in the Medical Devices & Instruments industry, placing it in the top 22.5%.
Is Becton Dickinson's ROC (Joel Greenblatt) % too high?
Becton Dickinson's current ROC (Joel Greenblatt) % of 9.05% is 69% below median its 10-year median of 28.80. Over the past 10 years, this metric has ranged from a low of 13.15 to a high of 32.41. The Medical Devices & Instruments industry median ROC (Joel Greenblatt) % is 4.13. Becton Dickinson's value of 9.05% is 119.1% above this industry median. Based on the distribution chart, Becton Dickinson ranks #189 out of 841 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Becton Dickinson has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Becton Dickinson's ROC (Joel Greenblatt) % compare to MDLN and RMD?
According to the Medical Devices & Instruments industry distribution chart, Becton Dickinson ranks #189 out of 841 companies for ROC (Joel Greenblatt) %. This places Becton Dickinson in the top 23% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 4.13. Becton Dickinson's value of 9.05% is 119.1% above this benchmark. Historically, Becton Dickinson's own ROC (Joel Greenblatt) % has ranged from 13.15 to 32.41 over the past decade. While the company's 10-year median is 28.80 vs. the industry median of 4.13, Becton Dickinson has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Medical Devices & Instruments company?
The median ROC (Joel Greenblatt) % among Medical Devices & Instruments companies is 4.13, based on 841 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Becton Dickinson's current ROC (Joel Greenblatt) % of 9.05% is 119.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Becton Dickinson and its competitors. For the Medical Devices & Instruments industry, the median ROC (Joel Greenblatt) % is 4.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Becton Dickinson's current ROC (Joel Greenblatt) % is 9.05%, which is 69% below median its own 10-year median of 28.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Becton Dickinson stock overvalued right now?
Based on GuruFocus' analysis, Becton Dickinson (BDX) is currently considered Modestly Undervalued. The stock's GF Value™ is $191.05, compared to a current price of $151.38 — trading 20.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 9.05%, which is 69% below median its 10-year median of 28.80 and 119.1% above the Medical Devices & Instruments industry median of 4.13. Becton Dickinson's overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Becton Dickinson (BDX), the current ROC (Joel Greenblatt) % is 9.05% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Becton Dickinson (BDX) Overvalued in 2026?
Based on GuruFocus' analysis, Becton Dickinson stock appears to be undervalued.
The current stock price of $151.38 is trading 20.8% below its estimated GF Value™ of $191.05.
GuruFocus considers Becton Dickinson to be Modestly Undervalued.
Key valuation signals for BDX:
ROC (Joel Greenblatt) %: 9.05% (69% below median its 10-year median of 28.80)
GF Value™: $191.05 vs. price of $151.38 (20.8% below fair value)
Industry Position: 119.1% above the Medical Devices & Instruments median (#189 of 841)
No single metric tells the full story. See the BDX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Becton Dickinson operates in four business units. Medical essentials (35% of total sales) includes the legacy medical surgical unit, which sells catheters, syringes, and infection prevention products. Connected care (24%) core products include the Alaris infusion pump, Pyxis dispensing system, and pharmacy automation platforms. Biopharma systems (13%) produces prefillable syringes and autoinjectors. Interventional (29%) is composed of the surgery, peripheral vascular, and urology segments. More than 60% of revenue comes from the United States.
76GF Score
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