Becton Dickinson & Co (BDX) is fairly valued and Resmed Inc (RMD) is slightly undervalued.
Against our estimates of intrinsic value, RMD trades at the wider discount: a margin of safety of +7%, against +4% for BDX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.0% (average of 3 methods) values the shares at $190.08; the price of $183.00 is 4% below that value, and 83% of that value comes from beyond year five.
Leak Score 34/100 on 9 of 12 signals
Discounting its cash flows at 9.0% (average of 3 methods) values the shares at $239.56; the price of $221.97 is 7% below that value, and 76% of that value comes from beyond year five.
Leak Score 75/100 on 10 of 12 signals
| Metric | BDX | RMD |
|---|---|---|
| Verdict | Fairly valued | Slightly undervalued |
| Price | $183.00 | $221.97 |
| Intrinsic value | $190.08 | $239.56 |
| Margin of safety | +4% | +7% |
| Leak Score | 34/100 (9/12) | 75/100 (10/12) |
| Market cap | $49.8B | $32.0B |
| Revenue growth, 5 years | 6.3% | 12.1% |
| Operating margin | 14.5% | 34.0% |
| Net margin | 4.5% | 26.9% |
| Return on equity | 5.2% | 24.3% |
| Debt to equity | 0.69 | 0.13 |
| P/E | 55.2x | 21.3x |
| Forward P/E | 13.8x | 16.7x |
| P/B | 2.0x | 4.9x |
| Dividend yield | 2.2% | 1.2% |