What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Becton, Dickinson and (BDX) revenue becomes net income?

For TTM through Q1 2026, Becton, Dickinson and turned $21.4B of revenue into $1.14B of net income — a net margin of 5.3%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Becton, Dickinson and (BDX) gross, operating, and net margins?

For TTM through Q1 2026, Becton, Dickinson and reported a gross margin of 46.5%, an operating margin of 10.6%, and a net margin of 5.3%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Becton, Dickinson and (BDX) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Becton, Dickinson and (BDX) Income Statement Waterfall

Revenue

$21.4B

Gross Margin

+46.5%

Operating Margin

+10.6%

Net Margin

+5.3%

Income statement waterfall for Becton, Dickinson and (BDX) — TTM through Q1 2026

Net income: $1.14B

Margin breakdown for Becton, Dickinson and (BDX) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$21.4B	$21.4B
Cost of Revenue	-$11.4B	$9.93B
Gross Profit	$9.93B	$9.93B
Operating Expenses	-$7.66B	$2.27B
Operating Income	$2.27B	$2.27B
Other Income / Expense	-$528M	$1.74B
Pre-tax Income	$1.74B	$1.74B
Income Tax	-$327M	$1.41B
Other Items	-$274M	$1.14B
Net Income	$1.14B	$1.14B

Revenue$21.4B
Cost of Revenue-$11.4B
Gross Profit$9.93B
Operating Expenses-$7.66B
Operating Income$2.27B
Other Income / Expense-$528M
Pre-tax Income$1.74B
Income Tax-$327M
Other Items-$274M
Net Income$1.14B

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