BECTON DICKINSON & CO vs Smith & Nephew plc, two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Becton Dickinson is a med-tech conglomerate rearranging itself, syringes to diagnostics to biosciences, its 2% operating margin buried under restructuring while a 2.7% dividend holds the flag; Smith & Nephew is a focused orthopedics-and-wound franchise earning 12.9% and repairing its own reputation more slowly than its margins. The market prices both as recovery stories at nearly the same toll, 39.6 and 41.6 times trailing earnings, multiples that only make sense against next year's income statements. Smith & Nephew runs debt-free and yields 4.9% in free cash; BD carries 0.72 turns and yields slightly negative. Two turnarounds priced as accomplished; only one currently generates the cash to be patient with.
Comparison updated 2026-07-10.
| Metric | BDX | SNN |
|---|---|---|
| Price | $155.94 | $30.02 |
| Market cap | $43.8B | $26.0B |
| Sector | Medical Devices | Medical Devices |
| Stage | Mature | Mature |
| Implied growth (priced in) | +10.4% | — |
| P/E | 39.6 | 41.6 |
| P/B | 1.81 | 4.92 |
| P/S | 1.98 | 4.22 |
| EV/EBITDA | 16.9 | 32.1 |
| Revenue growth | +10.0% | +4.3% |
| Gross margin | — | 68.0% |
| Operating margin | 2.0% | 12.9% |
| Net margin | 5.1% | 10.1% |
| Return on equity | 4.7% | 11.8% |
| Return on assets | 2.2% | 6.0% |
| Return on invested capital | 4.6% | 12.0% |
| FCF yield | -0.3% | 4.9% |
| Dividend yield | 2.7% | — |
| Debt / equity | 0.72 | 0.00 |
| Current ratio | 0.94 | 2.57 |
| Altman Z (solvency) | 6.91 | 4.86 |
| 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.