BECTON DICKINSON & CO vs ResMed Inc., two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin gap here is a fifteen-fold spread: ResMed keeps 34.9% of revenue as operating profit selling sleep-apnea devices and their software, Becton Dickinson 2%, a diversified needles-and-instruments giant mid-restructuring, its operating line squeezed under separation costs while the 5.1% net margin hints at the underlying business. The market pays double the multiple for the squeezed one, 39.6 times against 19.3, pricing BD's normalization and discounting ResMed for GLP-1 anxiety about sleep-apnea demand. ResMed's balance sheet is nearly debt-free with a 6% free-cash yield; BD carries 0.72 turns and currently burns slightly more free cash than it makes, while paying the bigger dividend, 2.7%. One page shows demonstrated excellence discounted, the other a promised recovery at a premium.
Comparison updated 2026-07-10.
| Metric | BDX | RMD |
|---|---|---|
| Price | $155.94 | $200.28 |
| Market cap | $43.8B | $29.2B |
| Sector | Medical Devices | Medical Devices |
| Stage | Mature | Mature |
| Implied growth (priced in) | +10.4% | +4.3% |
| P/E | 39.6 | 19.3 |
| P/B | 1.81 | 4.50 |
| P/S | 1.98 | 5.27 |
| EV/EBITDA | 16.9 | 13.3 |
| Revenue growth | +10.0% | +10.3% |
| Gross margin | — | 62.3% |
| Operating margin | 2.0% | 34.9% |
| Net margin | 5.1% | 27.4% |
| Return on equity | 4.7% | 23.4% |
| Return on assets | 2.2% | 17.3% |
| Return on invested capital | 4.6% | 21.0% |
| FCF yield | -0.3% | 6.0% |
| Dividend yield | 2.7% | 1.1% |
| Debt / equity | 0.72 | 0.10 |
| Current ratio | 0.94 | 3.01 |
| Altman Z (solvency) | 6.91 | 8.30 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.