Becton, Dickinson and Company (BDX)
Becton Dickinson makes medical supplies, diagnostic systems, and instruments used in hospitals and labs.
BDX vs ZTS: how the two businesses compare
- Bigger business: BDX, with $21.8B of yearly revenue, about 2.3× ZTS's $9.5B.
- More profitable: ZTS keeps 28 cents of each sales dollar as profit, against 8 cents at BDX.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Becton, Dickinson and (BDX) is the larger business by reported revenue: $21.8B in its fiscal year ended Sep 2025, about 2.3× ZTS's $9.5B (fiscal year ended Dec 2025). BDX's net margin was 7.7% and ZTS's 28.2%. The SEC classifies them differently (Surgical & Medical Instruments & Apparatus; Pharmaceutical Preparations); what connects them is shared exposure to the International markets research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Health Care
- Different
- Separate classifications
- Different
- BDX September 30 · ZTS December 31
- Feb 12, 2026
BDX vs ZTS: quick comparison
| Company fact | BDX | ZTS |
|---|---|---|
| Company | Becton, Dickinson and Company | Zoetis Inc. |
| Exchange | NYSE | NYSE |
| SEC industry | Surgical & Medical Instruments & Apparatus | Pharmaceutical Preparations |
| Fiscal year-end | September 30 | December 31 |
| Latest annual filing | 10-K · 2025-11-25 | 10-K · 2026-02-12 |
BDX vs ZTS: audited financials
- Scale: BDX's $21.8B of revenue is about 2.3× ZTS's $9.5B.
- Net margin: ZTS kept 28.2% of revenue as net income versus 7.7% at BDX.
- Periods: the fiscal years end about 3 months apart (2025-09-30 for BDX, 2025-12-31 for ZTS), so each figure reflects somewhat different demand and cost conditions.
| Metric | BDX | ZTS |
|---|---|---|
| Revenue | $21.8B2024-10-01 to 2025-09-30 · SEC filing | $9.5B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $1.7B2024-10-01 to 2025-09-30 · SEC filing | $2.7B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | — | $2.9B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $5.822024-10-01 to 2025-09-30 · SEC filing | $6.022025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 7.7%2024-10-01 to 2025-09-30 · SEC filing | 28.2%2025-01-01 to 2025-12-31 · SEC filing |
BDX: FY ending 2025-09-30 · ZTS: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where BDX and ZTS overlap, and where they don't
Overlap
- Shared research theme: International markets.
Differences
- Different SEC industries: BDX files as Surgical & Medical Instruments & Apparatus; ZTS as Pharmaceutical Preparations.
- Offset fiscal calendars: BDX's year ends September 30 and ZTS's December 31, about 3 months apart.
- Scale: BDX reported about 2.3× the annual revenue of ZTS.
- Profitability: net margin of 7.7% for BDX versus 28.2% for ZTS.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Zoetis Inc. (ZTS)
Zoetis develops medicines and vaccines for livestock and companion animals.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves BDX
We have not yet published a company-specific driver list for BDX. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2025-11-25.
What moves ZTS
We have not yet published a company-specific driver list for ZTS. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-12.
The investment question
You now know BDX reports about 2.3× ZTS's revenue, and ZTS keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to international markets, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. BDX's fiscal year ends September 30, while ZTS's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 9 matched transaction rows for BDX and 25 matched transaction rows for ZTS. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
BDX primary filings
ZTS primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving BDX or ZTS
BDX vs ZTS FAQs
Are BDX and ZTS direct competitors?
Not necessarily. Becton, Dickinson and files as Surgical & Medical Instruments & Apparatus and Zoetis as Pharmaceutical Preparations. The pair is compared because both map to the International markets research theme, not because the filings show head-to-head competition.
Is BDX or ZTS the bigger company by revenue?
Becton, Dickinson and (BDX) is the larger business by reported revenue: $21.8B in its fiscal year ended Sep 2025, about 2.3× ZTS's $9.5B (fiscal year ended Dec 2025). BDX's net margin was 7.7% and ZTS's 28.2%. The SEC classifies them differently (Surgical & Medical Instruments & Apparatus; Pharmaceutical Preparations); what connects them is shared exposure to the International markets research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, BDX or ZTS?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this BDX vs ZTS comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Becton, Dickinson and Company and Zoetis Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
BDX vs ZTS compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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