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Boston Scientific (BSX) Financials

Boston Scientific logo
$106.00 +0.79 (+0.75%)
Closing price 08/22/2025 03:59 PM Eastern
Extended Trading
$106.25 +0.25 (+0.24%)
As of 07:16 AM Eastern
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Annual Income Statements for Boston Scientific

Annual Income Statements for Boston Scientific

This table shows Boston Scientific's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -119 -239 347 104 1,671 4,700 -115 985 642 1,570 1,853
Consolidated Net Income / (Loss)		 -119 -239 347 104 1,671 4,700 -82 1,041 698 1,592 1,846
Net Income / (Loss) Continuing Operations		 -119 -239 347 105 1,671 4,700 -81 1,040 698 1,592 1,846
Total Pre-Tax Income 		-509 -650 177 933 1,422 687 -79 1,076 1,141 1,985 2,282
Total Operating Income		 -301 -283 447 1,285 1,506 1,518 -80 1,199 1,649 2,343 2,603
Total Gross Profit		 5,170 5,304 5,962 6,455 7,011 7,620 6,448 8,177 8,727 9,896 11,490
Total Revenue		 7,380 7,477 8,386 9,048 9,823 10,735 9,913 11,888 12,682 14,240 16,747
Operating Revenue		 7,380 7,477 8,386 9,048 9,823 10,735 9,913 11,888 12,682 14,240 16,747
Total Cost of Revenue		 2,210 2,173 2,424 2,593 2,813 3,116 3,465 3,711 3,956 4,345 5,257
Operating Cost of Revenue		 2,210 2,173 2,424 2,593 2,813 3,116 3,465 3,711 3,956 4,345 5,257
Total Operating Expenses		 5,471 5,587 5,515 5,170 5,504 6,102 6,528 6,978 7,079 7,552 8,887
Selling, General & Admin Expense		 2,902 2,873 3,099 3,294 3,569 3,941 3,787 4,359 4,520 5,190 5,984
Research & Development Expense		 817 876 920 997 1,113 1,174 1,143 1,204 1,323 1,414 1,615
Amortization Expense		 438 495 545 565 599 699 789 741 803 828 856
Other Operating Expenses / (Income)		 111 70 79 68 70 65 45 -29 69 46 33
Impairment Charge		 195 19 11 4.00 35 105 533 370 132 58 386
Restructuring Charge		 69 26 28 37 36 38 52 40 24 69 16
Other Special Charges / (Income)		 939 1,228 833 205 82 80 178 294 208 -53 -5.00
Total Other Income / (Expense), net		 -208 -367 -270 -353 -85 -831 1.00 -123 -508 -358 -305
Interest Expense		 216 284 233 229 241 473 361 341 470 265 305
Income Tax Expense		 -390 -411 -170 828 -249 -4,013 2.00 36 443 393 436
Preferred Stock Dividends Declared		 - - - - 0.00 0.00 33 55 55 23 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - - - 0.00 0.00 -1.00 -8.00
Basic Earnings per Share		 ($0.09) ($0.18) $0.26 $0.08 $1.21 $3.38 ($0.08) $0.69 $0.45 $1.08 $1.26
Weighted Average Basic Shares Outstanding		 1.32B 1.34B 1.36B 1.37B 1.38B 1.39B 1.42B 1.42B 1.43B 1.45B 1.47B
Diluted Earnings per Share		 ($0.09) ($0.18) $0.25 $0.08 $1.19 $3.33 ($0.08) $0.69 $0.45 $1.07 $1.25
Weighted Average Diluted Shares Outstanding		 1.32B 1.34B 1.38B 1.39B 1.40B 1.41B 1.42B 1.43B 1.44B 1.46B 1.49B
Weighted Average Basic & Diluted Shares Outstanding		 1.32B 1.33B 1.33B 1.37B 1.38B 1.40B 1.42B 1.43B 1.43B 1.47B 1.48B

Quarterly Income Statements for Boston Scientific

This table shows Boston Scientific's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 126 300 261 505 504 495 324 469 565 674 797
Consolidated Net Income / (Loss)		 140 314 270 504 504 493 322 468 563 672 795
Net Income / (Loss) Continuing Operations		 139 313 270 505 504 493 322 469 562 672 795
Total Pre-Tax Income 		395 444 426 610 505 608 420 669 585 805 941
Total Operating Income		 402 552 514 693 584 675 520 733 675 921 819
Total Gross Profit		 2,232 2,349 2,542 2,426 2,579 2,648 2,850 2,897 3,095 3,210 3,424
Total Revenue		 3,242 3,389 3,599 3,527 3,725 3,856 4,120 4,209 4,562 4,663 5,061
Operating Revenue		 3,242 3,389 3,599 3,527 3,725 3,856 4,120 4,209 4,562 4,663 5,061
Total Cost of Revenue		 1,011 1,040 1,058 1,101 1,146 1,209 1,270 1,312 1,466 1,453 1,637
Operating Cost of Revenue		 1,011 1,040 1,058 1,101 1,146 1,209 1,270 1,312 1,466 1,453 1,637
Total Operating Expenses		 1,831 1,797 2,028 1,733 1,994 1,973 2,330 2,164 2,420 2,288 2,605
Selling, General & Admin Expense		 1,163 1,215 1,354 1,242 1,379 1,364 1,446 1,562 1,612 1,597 1,716
Research & Development Expense		 330 337 359 356 362 366 383 407 459 443 526
Amortization Expense		 199 203 210 208 207 214 213 205 224 219 225
Other Operating Expenses / (Income)		 35 11 12 11 12 10 9.00 5.00 9.00 14 14
Impairment Charge		 - - 57 1.00 - - 276 0.00 - - 46
Restructuring Charge		 5.00 20 16 15 18 3.00 1.00 8.00 4.00 10 83
Other Special Charges / (Income)		 98 12 19 -99 15 17 2.00 -23 -1.00 5.00 -5.00
Total Other Income / (Expense), net		 -6.00 -108 -88 -84 -78 -67 -100 -65 -73 -116 123
Interest Expense		 64 65 70 66 64 69 77 79 80 82 90
Other Income / (Expense), net		 58 -43 -18 -18 -14 2.00 -23 14 - -34 213
Income Tax Expense		 256 131 156 105 1.00 115 98 200 23 133 146
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 0.00 -1.00 -1.00 -2.00 0.00 -7.00 -2.00 -2.00
Basic Earnings per Share		 $0.09 $0.21 $0.18 $0.34 $0.35 $0.34 $0.22 $0.32 $0.38 $0.46 $0.54
Weighted Average Basic Shares Outstanding		 1.43B 1.44B 1.45B 1.46B 1.45B 1.47B 1.47B 1.47B 1.47B 1.48B 1.48B
Diluted Earnings per Share		 $0.09 $0.21 $0.18 $0.34 $0.34 $0.33 $0.22 $0.32 $0.38 $0.45 $0.53
Weighted Average Diluted Shares Outstanding		 1.44B 1.45B 1.46B 1.48B 1.46B 1.48B 1.48B 1.49B 1.49B 1.49B 1.49B
Weighted Average Basic & Diluted Shares Outstanding		 1.43B 1.44B 1.46B 1.46B 1.47B 1.47B 1.47B 1.47B 1.48B 1.48B 1.48B

Annual Cash Flow Statements for Boston Scientific

This table details how cash moves in and out of Boston Scientific's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 370 -223 87 530 -187 -232 1,388 173 -1,042 -70 -450
Net Cash From Operating Activities		 1,269 691 1,182 1,426 310 1,836 1,508 1,870 1,526 2,503 3,435
Net Cash From Continuing Operating Activities		 1,269 691 1,182 1,426 311 1,838 1,508 1,871 1,527 2,504 3,434
Net Income / (Loss) Continuing Operations		 -119 -239 347 104 1,671 4,700 -82 1,041 698 1,592 1,846
Consolidated Net Income / (Loss)		 -119 -239 347 104 1,671 4,700 -82 1,041 698 1,592 1,846
Depreciation Expense		 725 769 815 844 894 1,011 1,123 1,093 1,136 1,196 1,269
Amortization Expense		 9.00 36 22 10 6.00 46 58 34 32 6.00 51
Non-Cash Adjustments To Reconcile Net Income		 89 331 68 237 -91 713 432 -24 541 407 656
Changes in Operating Assets and Liabilities, net		 565 -206 -70 231 -2,169 -4,632 -23 -273 -880 -697 -388
Net Cash From Investing Activities		 -745 -2,186 -887 -1,010 -1,921 -5,041 -411 -1,596 -2,011 -2,574 -5,687
Net Cash From Continuing Investing Activities		 -745 -2,186 -887 -1,010 -1,922 -5,042 -411 -1,596 -2,011 -2,575 -5,687
Purchase of Property, Plant & Equipment		 -259 -247 -376 -319 -316 -461 -376 -554 -588 -711 -790
Acquisitions		 -486 -1,734 -408 -560 -1,448 -4,382 -3.00 -2,258 -1,542 -1,811 -4,640
Purchase of Investments		 -26 -266 -132 -131 -172 -348 -146 279 32 -87 -280
Sale of Property, Plant & Equipment		 0.00 0.00 29 0.00 14 7.00 12 14 12 4.00 3.00
Divestitures		 12 - - 0.00 0.00 90 15 826 5.00 0.00 0.00
Other Investing Activities, net		 14 - - 0.00 0.00 52 87 82 70 30 20
Net Cash From Financing Activities		 -150 1,276 -206 110 1,432 2,973 293 -95 -548 5.00 1,814
Net Cash From Continuing Financing Activities		 -150 1,277 -206 110 1,431 2,973 294 -95 -547 5.00 1,813
Repayment of Debt		 -810 -1,715 -820 -3,216 -1,171 -5,135 -6,843 0.00 -3,435 -4.00 -317
Payment of Dividends		 - - - - 0.00 0.00 -28 -55 -55 -28 0.00
Issuance of Debt		 810 3,100 630 3,339 2,576 7,929 5,844 0.00 3,270 0.00 2,169
Issuance of Common Equity		 60 114 111 85 101 123 1,086 110 136 182 230
Other Financing Activities, net		 -85 -222 -127 -98 -75 56 -205 -150 -463 -145 -269
Effect of Exchange Rate Changes		 -4.00 -4.00 -2.00 4.00 -8.00 - -2.00 -6.00 -9.00 -4.00 -11
Cash Interest Paid		 221 283 233 235 262 449 359 338 450 259 250
Cash Income Taxes Paid		 74 80 94 42 1,037 242 207 302 662 512 656

Quarterly Cash Flow Statements for Boston Scientific

This table details how cash moves in and out of Boston Scientific's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 628 -363 -142 512 -77 1,441 565 -412 -2,044 314 -220
Net Cash From Operating Activities		 807 190 658 698 957 164 813 1,002 1,456 541 1,286
Net Cash From Continuing Operating Activities		 807 193 656 697 958 163 813 1,004 1,454 541 1,287
Net Income / (Loss) Continuing Operations		 140 314 270 504 504 493 322 469 562 672 795
Consolidated Net Income / (Loss)		 140 314 270 504 504 493 322 469 562 672 795
Depreciation Expense		 294 285 298 300 313 304 311 306 348 325 336
Amortization Expense		 - - - 3.00 - 0.00 - - 51 81 37
Non-Cash Adjustments To Reconcile Net Income		 6.00 117 76 56 158 113 377 49 117 148 -144
Changes in Operating Assets and Liabilities, net		 367 -523 9.00 -166 -17 -747 -197 180 376 -685 263
Net Cash From Investing Activities		 -183 -484 -840 -197 -1,053 -285 -271 -1,427 -3,704 -500 -1,126
Net Cash From Continuing Investing Activities		 -182 -484 -840 -198 -1,053 -285 -272 -1,426 -3,705 -500 -1,126
Purchase of Property, Plant & Equipment		 -212 -111 -143 -190 -267 -179 -155 -179 -277 -187 -157
Acquisitions		 - -375 -643 - -793 -47 -48 -1,127 -3,418 -239 -1,009
Purchase of Investments		 7.00 -10 -63 -16 2.00 -66 -73 -125 -16 -77 -33
Other Investing Activities, net		 16 9.00 7.00 7.00 7.00 7.00 4.00 5.00 4.00 3.00 4.00
Net Cash From Financing Activities		 1.00 -69 43 16 15 1,569 24 7.00 214 233 -340
Net Cash From Continuing Financing Activities		 2.00 -69 43 16 15 1,569 24 7.00 213 234 -340
Repayment of Debt		 - 0.00 37 -41 - -504 - - 187 -1,275 -309
Issuance of Common Equity		 19 63 27 75 17 80 26 96 28 115 32
Other Financing Activities, net		 -4.00 -118 -7.00 -18 -2.00 -152 -2.00 -111 -4.00 -164 -63

Annual Balance Sheets for Boston Scientific

This table presents Boston Scientific's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 17,024 18,133 18,096 19,042 20,999 30,565 30,777 32,229 32,469 35,136 39,395
Total Current Assets		 3,606 3,471 3,239 3,822 4,003 4,699 6,694 6,317 5,760 6,514 6,920
Cash & Equivalents		 587 319 196 188 146 217 1,734 1,925 928 865 414
Note & Lease Receivable		 1,183 1,275 1,472 1,548 1,608 1,828 1,531 1,778 1,970 2,228 2,558
Inventories, net		 946 1,016 955 1,078 1,166 1,579 1,351 1,610 1,867 2,484 2,810
Prepaid Expenses		 443 365 541 942 921 880 751 799 731 621 831
Current Deferred & Refundable Income Taxes		 447 496 75 66 161 195 194 205 264 315 307
Plant, Property, & Equipment, net		 1,507 1,490 1,630 1,697 1,782 2,079 2,084 2,252 2,446 2,859 3,294
Total Noncurrent Assets		 11,911 13,172 13,227 13,523 15,216 23,787 21,999 23,661 24,264 25,762 29,182
Goodwill		 5,898 6,473 6,678 6,998 7,911 10,176 9,951 11,988 12,920 14,387 17,089
Intangible Assets		 5,606 6,194 5,883 5,837 6,372 7,886 5,917 6,121 5,902 6,003 6,684
Noncurrent Deferred & Refundable Income Taxes		 - - - - 87 4,196 4,210 4,142 3,942 3,841 3,655
Other Noncurrent Operating Assets		 407 505 666 688 846 1,529 1,921 1,410 1,500 1,531 1,754
Total Liabilities & Shareholders' Equity		 17,024 18,133 18,096 19,042 20,999 30,565 30,777 32,229 32,469 35,136 39,395
Total Liabilities		 10,567 11,813 11,363 12,030 12,273 16,688 15,450 15,608 14,897 15,605 17,392
Total Current Liabilities		 2,846 2,430 3,587 5,654 5,260 4,866 3,681 4,274 3,803 4,933 6,399
Short-Term Debt		 403 3.00 64 1,801 2,253 1,416 13 261 20 531 1,778
Accounts Payable		 262 209 447 530 349 542 513 794 862 942 960
Accrued Expenses		 1,950 1,970 2,312 2,456 2,246 2,109 2,197 2,436 2,160 2,646 2,773
Other Current Liabilities		 231 248 764 867 412 800 958 783 761 814 887
Total Noncurrent Liabilities		 7,721 9,383 7,776 6,376 7,013 11,822 11,769 11,334 11,094 10,672 10,993
Long-Term Debt		 3,841 5,674 5,420 3,815 4,803 8,592 9,130 8,804 8,915 8,571 8,968
Noncurrent Deferred & Payable Income Tax Liabilities		 1,214 735 18 191 328 595 330 310 144 134 155
Other Noncurrent Operating Liabilities		 2,666 2,974 2,338 2,370 1,882 2,635 2,309 2,220 2,035 1,967 1,870
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6,457 6,320 6,733 7,012 8,726 13,877 15,326 16,622 17,573 19,530 22,003
Total Preferred & Common Equity		 6,457 6,320 6,733 7,011 8,726 13,877 15,337 16,623 17,573 19,282 21,770
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 10 0.00 0.00 0.00 0.00
Total Common Equity		 6,457 6,320 6,733 7,011 8,726 13,877 15,327 16,623 17,574 19,281 21,770
Common Stock		 16,719 16,876 17,030 17,177 17,362 17,577 19,749 20,003 20,306 20,664 21,073
Retained Earnings		 -8,689 -8,927 -8,581 -8,390 -6,953 -2,253 -2,378 -1,392 -750 819 2,673
Treasury Stock		 -1,717 -1,717 -1,717 -1,717 -1,717 -1,717 -2,251 -2,251 -2,251 -2,251 -2,251
Accumulated Other Comprehensive Income / (Loss)		 144 88 1.00 -59 33 270 207 263 269 49 275
Noncontrolling Interest		 - - - - - - - - 0.00 248 233

Quarterly Balance Sheets for Boston Scientific

This table presents Boston Scientific's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 32,469 32,892 33,601 34,043 35,136 36,669 37,108 38,078 39,395 40,140 41,559
Total Current Assets		 5,760 5,704 5,886 6,504 6,514 8,185 8,991 8,761 6,920 7,335 7,121
Cash & Equivalents		 928 570 426 952 865 2,329 2,913 2,502 414 725 534
Note & Lease Receivable		 1,970 2,076 2,134 2,101 2,228 2,304 2,400 2,501 2,558 2,693 2,815
Inventories, net		 1,867 2,050 2,250 2,404 2,484 2,561 2,608 2,753 2,810 2,867 2,861
Prepaid Expenses		 731 711 773 741 621 671 756 674 831 756 613
Current Deferred & Refundable Income Taxes		 264 296 303 307 315 319 315 332 307 294 298
Plant, Property, & Equipment, net		 2,446 2,478 2,534 2,635 2,859 2,897 2,951 3,072 3,294 3,389 3,461
Total Noncurrent Assets		 24,264 24,711 25,182 24,902 25,762 25,588 25,166 26,245 29,182 29,416 30,978
Goodwill		 12,920 13,269 13,659 13,608 14,387 14,361 14,397 15,033 17,089 17,340 18,076
Intangible Assets		 5,902 6,060 6,063 5,849 6,003 5,839 5,417 5,754 6,684 6,566 7,260
Noncurrent Deferred & Refundable Income Taxes		 3,942 3,900 3,865 3,840 3,841 3,792 3,801 3,816 3,655 3,676 3,778
Other Noncurrent Operating Assets		 1,500 1,482 1,595 1,605 1,531 1,596 1,551 1,642 1,754 1,834 1,864
Total Liabilities & Shareholders' Equity		 32,469 32,892 33,601 34,043 35,136 36,669 37,108 38,078 39,395 40,140 41,559
Total Liabilities		 14,897 14,783 15,117 14,914 15,605 16,501 16,499 17,122 17,392 17,694 18,906
Total Current Liabilities		 3,803 4,083 4,562 4,579 4,933 4,916 5,576 5,910 6,399 5,058 5,190
Short-Term Debt		 20 510 559 513 531 1,085 1,580 1,652 1,778 777 480
Accounts Payable		 862 868 899 929 942 921 906 907 960 1,004 962
Accrued Expenses		 2,160 1,918 2,164 2,255 2,646 2,083 2,320 2,460 2,773 2,354 2,797
Other Current Liabilities		 761 787 940 882 814 827 770 891 887 923 952
Total Noncurrent Liabilities		 11,094 10,700 10,555 10,335 10,672 11,585 10,923 11,212 10,993 12,636 13,716
Long-Term Debt		 8,915 8,495 8,494 8,386 8,571 9,534 8,991 9,233 8,968 10,532 11,107
Noncurrent Deferred & Payable Income Tax Liabilities		 144 210 135 91 134 132 132 138 155 158 226
Other Noncurrent Operating Liabilities		 2,035 1,995 1,926 1,858 1,967 1,919 1,800 1,841 1,870 1,946 2,383
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 17,573 18,109 18,485 19,129 19,530 20,168 20,609 20,956 22,003 22,446 22,653
Total Preferred & Common Equity		 17,573 17,850 18,226 18,886 19,282 19,926 20,371 20,708 21,770 22,212 22,418
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 17,574 17,850 18,226 18,885 19,281 19,925 20,372 20,708 21,770 22,212 22,418
Common Stock		 20,306 20,373 20,458 20,590 20,664 20,730 20,820 20,980 21,073 21,144 21,247
Retained Earnings		 -750 -450 -189 315 819 1,314 1,639 2,107 2,673 3,347 4,144
Treasury Stock		 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251 -2,251
Accumulated Other Comprehensive Income / (Loss)		 269 178 208 231 49 132 164 -128 275 -28 -722
Noncontrolling Interest		 0.00 259 259 243 248 242 238 248 233 233 235

Annual Metrics And Ratios for Boston Scientific

This table displays calculated financial ratios and metrics derived from Boston Scientific's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.32% 1.31% 12.16% 7.89% 8.57% 9.28% -7.66% 19.92% 6.68% 12.29% 17.61%
EBITDA Growth		 -44.18% -0.45% 184.05% 61.59% 27.15% -13.47% -34.01% 73.89% 9.24% 24.22% 13.64%
EBIT Growth		 -390.10% -24.91% 212.02% 183.17% 43.15% -30.20% -75.69% 402.48% 13.69% 39.66% 15.69%
NOPAT Growth		 -350.83% 5.98% 542.36% -83.50% 1,123.75% 486.83% -100.54% 2,169.44% -12.95% 86.28% 12.06%
Net Income Growth		 1.65% -100.84% 245.19% -70.03% 1,506.73% 181.27% -101.74% 1,369.51% -32.95% 128.08% 15.95%
EPS Growth		 0.00% -100.00% 238.89% -68.00% 1,387.50% 179.83% -102.40% 962.50% -34.78% 137.78% 16.82%
Operating Cash Flow Growth		 14.32% -45.55% 71.06% 20.64% -78.26% 492.26% -17.86% 24.01% -18.40% 64.02% 37.24%
Free Cash Flow Firm Growth		 -46.19% -842.56% 130.27% -151.45% -419.81% 265.05% -14.70% -149.81% 19.09% 62.08% -703.36%
Invested Capital Growth		 -4.24% 15.46% 2.94% 3.49% 25.69% 51.36% -8.72% 9.99% 7.65% 8.55% 16.46%
Revenue Q/Q Growth		 0.67% 1.23% 2.61% 2.47% 1.57% 3.30% -1.94% 3.65% 0.92% 3.51% 5.26%
EBITDA Q/Q Growth		 -41.51% 475.21% 135.73% 27.13% 18.45% 10.41% 72.32% -7.02% 9.41% 3.88% 5.32%
EBIT Q/Q Growth		 -190.99% 37.76% 3,253.85% 13.49% 4.79% -13.82% 422.22% -12.15% 18.72% 5.14% 4.50%
NOPAT Q/Q Growth		 -123.85% 48.45% 1,464.86% -87.68% 137.12% 479.16% -200.00% 18.33% -6.36% 32.88% 3.23%
Net Income Q/Q Growth		 -141.32% 39.65% 328.40% -87.66% 149.40% 331.19% -102.21% -9.87% 6.89% 29.64% 3.30%
EPS Q/Q Growth		 -145.00% 37.93% 316.67% -86.67% 147.92% 332.47% -103.07% -10.39% 7.14% 30.49% 3.31%
Operating Cash Flow Q/Q Growth		 14.95% -2.81% 27.65% 0.56% -68.21% 57.87% -32.56% 37.91% 27.49% 6.37% 17.00%
Free Cash Flow Firm Q/Q Growth		 -43.15% -10.39% 74.86% -27.18% -51.62% 162.43% 179.94% -485.62% 33.05% -236.90% -994.32%
Invested Capital Q/Q Growth		 -5.54% -2.02% 3.01% -4.75% 6.03% 16.52% -5.58% 0.69% -1.18% 2.55% 10.21%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 70.05% 70.94% 71.09% 71.34% 71.37% 70.98% 65.05% 68.78% 68.81% 69.49% 68.61%
EBITDA Margin		 5.98% 5.87% 14.87% 22.27% 26.08% 20.65% 14.76% 21.40% 21.91% 24.24% 23.43%
Operating Margin		 -4.08% -3.78% 5.33% 14.20% 15.33% 14.14% -0.81% 10.09% 13.00% 16.45% 15.54%
EBIT Margin		 -3.97% -4.90% 4.89% 12.83% 16.92% 10.81% 2.84% 11.92% 12.70% 15.80% 15.54%
Profit (Net Income) Margin		 -1.61% -3.20% 4.14% 1.15% 17.01% 43.78% -0.83% 8.76% 5.50% 11.18% 11.02%
Tax Burden Percent		 23.38% 36.77% 196.05% 11.15% 117.51% 684.13% 103.80% 96.75% 61.17% 80.20% 80.89%
Interest Burden Percent		 173.72% 177.60% 43.17% 80.36% 85.56% 59.22% -28.01% 75.94% 70.83% 88.22% 87.67%
Effective Tax Rate		 0.00% 0.00% -96.05% 88.75% -17.51% -584.13% 0.00% 3.35% 38.83% 19.80% 19.11%
Return on Invested Capital (ROIC)		 -2.04% -1.82% 7.40% 1.18% 12.61% 52.85% -0.25% 5.11% 4.09% 7.05% 7.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.35% -2.73% -2.55% 0.42% 11.01% -15.24% -0.57% 3.35% -0.01% 3.51% 4.21%
Return on Net Nonoperating Assets (RNNOA)		 0.21% -1.92% -2.08% 0.33% 8.63% -11.26% -0.31% 1.41% -0.01% 1.54% 1.88%
Return on Equity (ROE)		 -1.83% -3.74% 5.32% 1.51% 21.24% 41.59% -0.56% 6.52% 4.08% 8.58% 8.89%
Cash Return on Invested Capital (CROIC)		 2.30% -16.17% 4.50% -2.24% -10.16% 11.98% 8.87% -4.41% -3.28% -1.15% -8.20%
Operating Return on Assets (OROA)		 -1.74% -2.08% 2.26% 6.25% 8.30% 4.50% 0.92% 4.50% 4.98% 6.66% 6.99%
Return on Assets (ROA)		 -0.71% -1.36% 1.92% 0.56% 8.35% 18.23% -0.27% 3.30% 2.16% 4.71% 4.95%
Return on Common Equity (ROCE)		 -1.83% -3.74% 5.32% 1.51% 21.23% 41.59% -0.56% 6.52% 4.08% 8.52% 8.79%
Return on Equity Simple (ROE_SIMPLE)		 -1.84% -3.78% 5.15% 1.48% 19.15% 33.87% -0.53% 6.26% 3.97% 8.26% 8.48%
Net Operating Profit after Tax (NOPAT)		 -211 -198 876 145 1,770 10,385 -56 1,159 1,009 1,879 2,106
NOPAT Margin		 -2.86% -2.65% 10.45% 1.60% 18.02% 96.74% -0.56% 9.75% 7.95% 13.20% 12.57%
Net Nonoperating Expense Percent (NNEP)		 -2.39% 0.91% 9.94% 0.76% 1.60% 68.09% 0.32% 1.76% 4.10% 3.54% 2.80%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 3.81% 6.56% 6.43%
Cost of Revenue to Revenue		 29.95% 29.06% 28.91% 28.66% 28.64% 29.03% 34.95% 31.22% 31.19% 30.51% 31.39%
SG&A Expenses to Revenue		 39.32% 38.42% 36.95% 36.41% 36.33% 36.71% 38.20% 36.67% 35.64% 36.45% 35.73%
R&D to Revenue		 11.07% 11.72% 10.97% 11.02% 11.33% 10.94% 11.53% 10.13% 10.43% 9.93% 9.64%
Operating Expenses to Revenue		 74.13% 74.72% 65.76% 57.14% 56.03% 56.84% 65.85% 58.70% 55.82% 53.03% 53.07%
Earnings before Interest and Taxes (EBIT)		 -293 -366 410 1,161 1,662 1,160 282 1,417 1,611 2,250 2,603
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 441 439 1,247 2,015 2,562 2,217 1,463 2,544 2,779 3,452 3,923
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.72 3.92 4.37 4.86 5.60 4.54 3.36 3.64 3.77 4.39 6.05
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.38 3.32 3.51 3.76 4.98 5.87 5.19 5.09 5.23 5.95 7.86
Price to Earnings (P/E)		 0.00 0.00 84.88 327.32 29.27 13.41 0.00 61.46 103.23 53.94 71.04
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1.18% 0.31% 3.42% 7.46% 0.00% 1.63% 0.97% 1.85% 1.41%
Enterprise Value to Invested Capital (EV/IC)		 2.10 2.58 2.89 3.17 3.57 3.08 2.73 2.85 2.90 3.36 4.40
Enterprise Value to Revenue (EV/Rev)		 2.88 4.03 4.14 4.36 5.68 6.78 5.94 5.69 5.86 6.54 8.49
Enterprise Value to EBITDA (EV/EBITDA)		 48.15 68.71 27.86 19.59 21.79 32.85 40.26 26.60 26.73 26.99 36.25
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 84.73 34.00 33.58 62.78 208.85 47.76 46.11 41.41 54.63
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 39.64 272.93 31.54 7.01 0.00 58.40 73.63 49.58 67.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.73 43.65 29.39 27.68 180.04 39.66 39.06 36.19 48.68 37.23 41.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 89.48 0.00 65.14 0.00 0.00 30.93 29.33 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.66 0.90 0.81 0.80 0.81 0.72 0.60 0.55 0.51 0.47 0.49
Long-Term Debt to Equity		 0.59 0.90 0.81 0.54 0.55 0.62 0.60 0.53 0.51 0.44 0.41
Financial Leverage		 0.59 0.71 0.82 0.78 0.78 0.74 0.55 0.42 0.44 0.44 0.45
Leverage Ratio		 2.59 2.75 2.78 2.70 2.54 2.28 2.10 1.97 1.89 1.82 1.79
Compound Leverage Factor		 4.49 4.89 1.20 2.17 2.18 1.35 -0.59 1.50 1.34 1.61 1.57
Debt to Total Capital		 39.66% 47.32% 44.89% 44.47% 44.71% 41.90% 37.37% 35.29% 33.71% 31.79% 32.81%
Short-Term Debt to Total Capital		 3.77% 0.03% 0.52% 14.26% 14.28% 5.93% 0.05% 1.02% 0.08% 1.85% 5.43%
Long-Term Debt to Total Capital		 35.89% 47.30% 44.36% 30.21% 30.43% 35.97% 37.31% 34.27% 33.63% 29.94% 27.38%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.87% 0.71%
Common Equity to Total Capital		 60.34% 52.68% 55.11% 55.52% 55.29% 58.10% 62.64% 64.71% 66.30% 67.34% 66.48%
Debt to EBITDA		 9.62 12.93 4.40 2.79 2.75 4.51 6.25 3.56 3.22 2.64 2.74
Net Debt to EBITDA		 8.29 12.21 4.24 2.69 2.70 4.42 5.06 2.81 2.88 2.39 2.63
Long-Term Debt to EBITDA		 8.71 12.92 4.35 1.89 1.87 3.88 6.24 3.46 3.21 2.48 2.29
Debt to NOPAT		 -20.14 -28.66 6.26 38.83 3.99 0.96 -163.27 7.82 8.86 4.84 5.10
Net Debt to NOPAT		 -17.36 -27.05 6.03 37.53 3.90 0.94 -132.30 6.16 7.94 4.38 4.91
Long-Term Debt to NOPAT		 -18.23 -28.64 6.18 26.38 2.71 0.83 -163.04 7.60 8.84 4.56 4.26
Altman Z-Score		 0.71 0.99 1.41 1.64 2.58 2.63 2.36 2.86 3.26 3.96 5.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.01% 0.01% 0.00% 0.00% -0.01% -0.01% 0.67% 1.16%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.27 1.43 0.90 0.68 0.76 0.97 1.82 1.48 1.51 1.32 1.08
Quick Ratio		 0.62 0.66 0.47 0.31 0.33 0.42 0.89 0.87 0.76 0.63 0.46
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 237 -1,762 533 -274 -1,426 2,354 2,008 -1,000 -809 -307 -2,465
Operating Cash Flow to CapEx		 489.96% 279.76% 340.63% 447.02% 102.65% 404.41% 414.29% 346.30% 264.93% 354.03% 436.47%
Free Cash Flow to Firm to Interest Expense		 1.10 -6.20 2.29 -1.20 -5.92 4.98 5.56 -2.93 -1.72 -1.16 -8.08
Operating Cash Flow to Interest Expense		 5.88 2.43 5.07 6.23 1.29 3.88 4.18 5.48 3.25 9.45 11.26
Operating Cash Flow Less CapEx to Interest Expense		 4.68 1.56 3.58 4.83 0.03 2.92 3.17 3.90 2.02 6.78 8.68
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.44 0.43 0.46 0.49 0.49 0.42 0.32 0.38 0.39 0.42 0.45
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 2.40 2.22 2.46 2.55 2.51 2.27 2.37 2.51 2.28 2.00 1.99
Fixed Asset Turnover		 4.83 4.99 5.38 5.44 5.65 5.56 4.76 5.48 5.40 5.37 5.44
Accounts Payable Turnover		 8.70 9.23 7.39 5.31 6.40 6.99 6.57 5.68 4.78 4.82 5.53
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 152.19 164.78 148.39 143.09 145.58 160.77 154.32 145.62 160.40 182.75 183.78
Days Payable Outstanding (DPO)		 41.95 39.56 49.39 68.76 57.03 52.18 55.57 64.28 76.40 75.77 66.03
Cash Conversion Cycle (CCC)		 110.24 125.22 99.00 74.32 88.56 108.59 98.76 81.34 84.01 106.98 117.76
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,114 11,678 12,021 12,440 15,636 23,667 21,603 23,762 25,580 27,766 32,337
Invested Capital Turnover		 0.71 0.69 0.71 0.74 0.70 0.55 0.44 0.52 0.51 0.53 0.56
Increase / (Decrease) in Invested Capital		 -448 1,564 343 419 3,196 8,031 -2,064 2,159 1,818 2,186 4,571
Enterprise Value (EV)		 21,233 30,163 34,741 39,470 55,814 72,820 58,897 67,674 74,280 93,176 142,207
Market Capitalization		 17,576 24,805 29,453 34,042 48,904 63,029 51,478 60,534 66,273 84,691 131,642
Book Value per Share		 $4.87 $4.70 $4.94 $5.11 $6.31 $9.96 $10.70 $11.67 $12.27 $13.16 $14.77
Tangible Book Value per Share		 ($3.80) ($4.72) ($4.28) ($4.24) ($4.02) ($3.00) ($0.38) ($1.04) ($0.87) ($0.76) ($1.36)
Total Capital		 10,701 11,997 12,217 12,628 15,782 23,885 24,469 25,687 26,508 28,632 32,749
Total Debt		 4,244 5,677 5,484 5,616 7,056 10,008 9,143 9,065 8,935 9,102 10,746
Total Long-Term Debt		 3,841 5,674 5,420 3,815 4,803 8,592 9,130 8,804 8,915 8,571 8,968
Net Debt		 3,657 5,358 5,288 5,428 6,910 9,791 7,409 7,140 8,007 8,237 10,332
Capital Expenditures (CapEx)		 259 247 347 319 302 454 364 540 576 707 787
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 576 725 -480 -219 850 1,032 1,292 379 1,049 1,247 1,885
Debt-free Net Working Capital (DFNWC)		 1,163 1,044 -284 -31 996 1,249 3,026 2,304 1,977 2,112 2,299
Net Working Capital (NWC)		 760 1,041 -348 -1,832 -1,257 -167 3,013 2,043 1,957 1,581 521
Net Nonoperating Expense (NNE)		 -92 41 529 41 99 5,685 26 118 311 287 260
Net Nonoperating Obligations (NNO)		 3,657 5,358 5,288 5,428 6,910 9,790 6,277 7,140 8,007 8,236 10,334
Total Depreciation and Amortization (D&A)		 734 805 837 854 900 1,057 1,181 1,127 1,168 1,202 1,320
Debt-free, Cash-free Net Working Capital to Revenue		 7.80% 9.70% -5.72% -2.42% 8.65% 9.61% 13.03% 3.19% 8.27% 8.76% 11.26%
Debt-free Net Working Capital to Revenue		 15.76% 13.96% -3.39% -0.34% 10.14% 11.63% 30.53% 19.38% 15.59% 14.83% 13.73%
Net Working Capital to Revenue		 10.30% 13.92% -4.15% -20.25% -12.80% -1.56% 30.39% 17.19% 15.43% 11.10% 3.11%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.09) ($0.18) $0.26 $0.08 $1.21 $3.38 ($0.08) $0.69 $0.45 $1.08 $1.26
Adjusted Weighted Average Basic Shares Outstanding		 1.32B 1.34B 1.36B 1.37B 1.38B 1.39B 1.42B 1.42B 1.43B 1.45B 1.47B
Adjusted Diluted Earnings per Share		 ($0.09) ($0.18) $0.25 $0.08 $1.19 $3.33 ($0.08) $0.69 $0.45 $1.07 $1.25
Adjusted Weighted Average Diluted Shares Outstanding		 1.32B 1.34B 1.38B 1.39B 1.40B 1.41B 1.42B 1.43B 1.44B 1.46B 1.49B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $3.38 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.33B 1.35B 1.36B 1.37B 1.39B 1.40B 1.42B 1.43B 1.43B 1.47B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)		 631 693 923 1,072 1,161 1,219 478 1,839 1,231 1,938 2,427
Normalized NOPAT Margin		 8.56% 9.27% 11.01% 11.84% 11.82% 11.35% 4.82% 15.47% 9.71% 13.61% 14.49%
Pre Tax Income Margin		 -6.90% -8.69% 2.11% 10.31% 14.48% 6.40% -0.80% 9.05% 9.00% 13.94% 13.63%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.36 -1.29 1.76 5.07 6.90 2.45 0.78 4.16 3.43 8.49 8.53
NOPAT to Interest Expense		 -0.98 -0.70 3.76 0.63 7.34 21.96 -0.16 3.40 2.15 7.09 6.90
EBIT Less CapEx to Interest Expense		 -2.56 -2.16 0.27 3.68 5.64 1.49 -0.23 2.57 2.20 5.82 5.95
NOPAT Less CapEx to Interest Expense		 -2.17 -1.57 2.27 -0.76 6.09 21.00 -1.16 1.81 0.92 4.42 4.32
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -34.15% 5.28% 7.88% 1.76% 0.00%
Augmented Payout Ratio		 -105.04% 0.00% 0.00% 0.00% 0.00% 0.00% -686.59% 5.28% 7.88% 1.76% 0.00%

Quarterly Metrics And Ratios for Boston Scientific

This table displays calculated financial ratios and metrics derived from Boston Scientific's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.68% 12.00% 10.94% 11.26% 14.90% 13.78% 14.48% 19.34% 22.47% 20.93% 22.84%
EBITDA Growth		 46.41% 9.37% 13.27% 63.55% 17.11% 23.55% 1.76% 7.67% 21.63% 31.80% 73.89%
EBIT Growth		 123.30% 17.01% 21.27% 119.87% 23.91% 33.01% 0.20% 10.67% 18.42% 31.02% 107.65%
NOPAT Growth		 -0.51% 17.36% 2.19% 108.84% 312.01% 40.65% 22.38% -10.43% 11.26% 40.47% 73.56%
Net Income Growth		 47.37% 185.45% 3.85% 168.09% 260.00% 57.01% 19.26% -7.14% 11.71% 36.31% 146.89%
EPS Growth		 50.00% 200.00% 5.88% 183.33% 277.78% 57.14% 22.22% -5.88% 11.76% 36.36% 140.91%
Operating Cash Flow Growth		 68.83% 427.59% 114.33% 48.51% 18.59% -13.68% 23.56% 43.55% 52.14% 229.88% 58.18%
Free Cash Flow Firm Growth		 16.87% 82.99% 74.19% 69.36% 4.38% -210.70% 9.76% -184.14% -144.68% -178.28% -526.68%
Invested Capital Growth		 7.65% 3.22% 4.49% 4.60% 8.55% 7.21% 4.26% 8.37% 16.46% 16.07% 19.24%
Revenue Q/Q Growth		 2.27% 4.53% 6.20% -2.00% 5.61% 3.52% 6.85% 2.16% 8.39% 2.21% 8.54%
EBITDA Q/Q Growth		 26.09% 5.31% 0.00% 23.17% -9.71% 11.10% -17.64% 30.32% 1.99% 20.39% 8.66%
EBIT Q/Q Growth		 49.84% 10.65% -2.55% 36.09% -15.56% 18.77% -26.59% 50.30% -9.64% 31.41% 16.35%
NOPAT Q/Q Growth		 -48.50% 175.08% -16.28% 76.11% 1.59% -6.09% -27.16% 28.90% 26.19% 18.56% -10.00%
Net Income Q/Q Growth		 -25.53% 124.29% -14.01% 86.67% 0.00% -2.18% -34.69% 45.34% 20.30% 19.36% 18.30%
EPS Q/Q Growth		 -25.00% 133.33% -14.29% 88.89% 0.00% -2.94% -33.33% 45.45% 18.75% 18.42% 17.78%
Operating Cash Flow Q/Q Growth		 71.70% -76.46% 246.32% 6.08% 37.11% -82.86% 395.73% 23.25% 45.31% -62.84% 137.71%
Free Cash Flow Firm Q/Q Growth		 16.64% 73.76% -90.79% 26.56% -160.13% 14.75% 44.59% -131.22% -124.00% 3.04% -24.79%
Invested Capital Q/Q Growth		 -1.18% 3.77% 2.14% -0.14% 2.55% 2.49% -0.67% 3.79% 10.21% 2.14% 2.05%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 68.85% 69.31% 70.63% 68.78% 69.23% 68.67% 69.17% 68.83% 67.84% 68.84% 67.65%
EBITDA Margin		 23.26% 23.43% 22.06% 27.73% 23.70% 25.44% 19.61% 25.02% 23.54% 27.73% 27.76%
Operating Margin		 12.40% 16.29% 14.28% 19.65% 15.68% 17.51% 12.62% 17.42% 14.80% 19.75% 16.18%
EBIT Margin		 14.19% 15.02% 13.78% 19.14% 15.30% 17.56% 12.06% 17.75% 14.80% 19.02% 20.39%
Profit (Net Income) Margin		 4.32% 9.27% 7.50% 14.29% 13.53% 12.79% 7.82% 11.12% 12.34% 14.41% 15.71%
Tax Burden Percent		 35.44% 70.72% 63.38% 82.62% 99.80% 81.09% 76.67% 69.96% 96.24% 83.48% 84.48%
Interest Burden Percent		 85.87% 87.23% 85.89% 90.37% 88.60% 89.81% 84.51% 89.56% 86.67% 90.76% 91.18%
Effective Tax Rate		 64.81% 29.50% 36.62% 17.21% 0.20% 18.91% 23.33% 29.90% 3.93% 16.52% 15.52%
Return on Invested Capital (ROIC)		 2.24% 5.73% 4.57% 8.45% 8.35% 7.59% 5.32% 6.89% 7.92% 9.41% 8.16%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.22% 4.87% 3.93% 7.59% 7.38% 6.94% 4.38% 6.32% 7.00% 8.39% 9.26%
Return on Net Nonoperating Assets (RNNOA)		 0.99% 2.43% 1.90% 3.34% 3.23% 3.03% 1.82% 2.58% 3.13% 3.72% 4.01%
Return on Equity (ROE)		 3.23% 8.17% 6.48% 11.79% 11.59% 10.62% 7.15% 9.46% 11.05% 13.13% 12.17%
Cash Return on Invested Capital (CROIC)		 -3.28% 1.01% -0.24% 0.85% -1.15% 0.43% 3.42% -0.80% -8.20% -7.30% -9.09%
Operating Return on Assets (OROA)		 5.56% 6.01% 5.61% 7.98% 6.45% 7.42% 5.20% 7.83% 6.65% 8.69% 9.59%
Return on Assets (ROA)		 1.69% 3.71% 3.06% 5.96% 5.70% 5.41% 3.37% 4.91% 5.55% 6.59% 7.39%
Return on Common Equity (ROCE)		 3.23% 8.11% 6.43% 11.71% 11.51% 10.48% 7.06% 9.35% 10.92% 12.98% 12.03%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.05% 5.00% 6.50% 0.00% 8.89% 8.95% 8.63% 0.00% 9.12% 0.00%
Net Operating Profit after Tax (NOPAT)		 141 389 326 574 583 547 399 514 648 769 692
NOPAT Margin		 4.36% 11.48% 9.05% 16.27% 15.65% 14.19% 9.68% 12.21% 14.21% 16.49% 13.67%
Net Nonoperating Expense Percent (NNEP)		 0.02% 0.86% 0.64% 0.86% 0.97% 0.65% 0.94% 0.56% 0.92% 1.03% -1.10%
Return On Investment Capital (ROIC_SIMPLE)		 0.53% - - - 2.04% - - - 1.98% 2.28% 2.02%
Cost of Revenue to Revenue		 31.18% 30.69% 29.40% 31.22% 30.77% 31.35% 30.83% 31.17% 32.14% 31.16% 32.35%
SG&A Expenses to Revenue		 35.87% 35.85% 37.62% 35.21% 37.02% 35.37% 35.10% 37.11% 35.34% 34.25% 33.91%
R&D to Revenue		 10.18% 9.94% 9.98% 10.09% 9.72% 9.49% 9.30% 9.67% 10.06% 9.50% 10.39%
Operating Expenses to Revenue		 56.48% 53.02% 56.35% 49.14% 53.53% 51.17% 56.55% 51.41% 53.05% 49.07% 51.47%
Earnings before Interest and Taxes (EBIT)		 460 509 496 675 570 677 497 747 675 887 1,032
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 754 794 794 978 883 981 808 1,053 1,074 1,293 1,405
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.77 4.02 4.27 4.09 4.39 0.00 5.56 5.96 6.05 6.70 7.09
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 202.90 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 5.23 5.50 5.80 5.62 5.95 0.00 7.43 7.76 7.86 8.48 8.59
Price to Earnings (P/E)		 103.23 84.85 90.32 64.86 53.94 0.00 61.94 68.87 71.04 73.27 63.44
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.97% 1.18% 1.11% 1.54% 1.85% 0.00% 1.61% 1.45% 1.41% 1.36% 1.58%
Enterprise Value to Invested Capital (EV/IC)		 2.90 3.03 3.20 3.16 3.36 0.00 4.28 4.50 4.40 4.83 5.05
Enterprise Value to Revenue (EV/Rev)		 5.86 6.17 6.47 6.22 6.54 0.00 7.95 8.30 8.49 9.10 9.20
Enterprise Value to EBITDA (EV/EBITDA)		 26.73 28.42 29.44 25.73 26.99 0.00 33.18 35.45 36.25 37.39 36.74
Enterprise Value to EBIT (EV/EBIT)		 46.11 47.76 48.90 39.95 41.41 0.00 50.07 53.01 54.63 56.05 54.06
Enterprise Value to NOPAT (EV/NOPAT)		 73.63 73.65 78.74 60.46 49.58 0.00 57.56 64.73 67.54 68.62 64.93
Enterprise Value to Operating Cash Flow (EV/OCF)		 48.68 45.36 40.78 36.34 37.23 0.00 46.02 44.97 41.40 41.89 39.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 305.15 0.00 381.43 0.00 0.00 127.75 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.51 0.50 0.49 0.47 0.47 0.53 0.51 0.52 0.49 0.50 0.51
Long-Term Debt to Equity		 0.51 0.47 0.46 0.44 0.44 0.47 0.44 0.44 0.41 0.47 0.49
Financial Leverage		 0.44 0.50 0.48 0.44 0.44 0.44 0.42 0.41 0.45 0.44 0.43
Leverage Ratio		 1.89 1.87 1.84 1.79 1.82 1.82 1.81 1.80 1.79 1.80 1.82
Compound Leverage Factor		 1.62 1.63 1.58 1.62 1.61 1.63 1.53 1.61 1.56 1.64 1.66
Debt to Total Capital		 33.71% 33.21% 32.87% 31.75% 31.79% 34.49% 33.90% 34.19% 32.81% 33.50% 33.84%
Short-Term Debt to Total Capital		 0.08% 1.88% 2.03% 1.83% 1.85% 3.52% 5.07% 5.19% 5.43% 2.30% 1.40%
Long-Term Debt to Total Capital		 33.63% 31.33% 30.84% 29.92% 29.94% 30.97% 28.84% 29.00% 27.38% 31.20% 32.44%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.96% 0.94% 0.87% 0.87% 0.79% 0.76% 0.78% 0.71% 0.69% 0.69%
Common Equity to Total Capital		 66.30% 65.83% 66.18% 67.38% 67.34% 64.72% 65.34% 65.04% 66.48% 65.80% 65.47%
Debt to EBITDA		 3.22 3.18 3.08 2.68 2.64 2.92 2.90 2.92 2.74 2.65 2.50
Net Debt to EBITDA		 2.88 2.98 2.93 2.39 2.39 2.28 2.10 2.25 2.63 2.48 2.39
Long-Term Debt to EBITDA		 3.21 3.00 2.89 2.52 2.48 2.62 2.46 2.48 2.29 2.47 2.40
Debt to NOPAT		 8.86 8.24 8.23 6.29 4.84 5.22 5.02 5.34 5.10 4.86 4.42
Net Debt to NOPAT		 7.94 7.72 7.84 5.62 4.38 4.08 3.64 4.11 4.91 4.55 4.22
Long-Term Debt to NOPAT		 8.84 7.77 7.72 5.93 4.56 4.69 4.27 4.53 4.26 4.53 4.24
Altman Z-Score		 3.15 3.40 3.57 3.66 3.80 0.00 4.74 4.97 5.13 5.74 5.77
Noncontrolling Interest Sharing Ratio		 -0.01% 0.74% 0.72% 0.66% 0.67% 1.31% 1.27% 1.23% 1.16% 1.12% 1.09%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.51 1.40 1.29 1.42 1.32 1.67 1.61 1.48 1.08 1.45 1.37
Quick Ratio		 0.76 0.65 0.56 0.67 0.63 0.94 0.95 0.85 0.46 0.68 0.65
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,677 -440 -839 -616 -1,603 -1,367 -757 -1,751 -3,923 -3,803 -4,746
Operating Cash Flow to CapEx		 384.29% 175.93% 460.14% 369.31% 358.43% 92.13% 524.52% 559.78% 529.45% 289.30% 819.11%
Free Cash Flow to Firm to Interest Expense		 -26.20 -6.77 -11.99 -9.34 -25.05 -19.81 -9.84 -22.17 -49.03 -46.38 -52.73
Operating Cash Flow to Interest Expense		 12.61 2.92 9.40 10.58 14.95 2.38 10.56 12.68 18.20 6.60 14.29
Operating Cash Flow Less CapEx to Interest Expense		 9.33 1.26 7.36 7.71 10.78 -0.20 8.55 10.42 14.76 4.32 12.54
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.39 0.40 0.41 0.42 0.42 0.42 0.43 0.44 0.45 0.46 0.47
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 2.28 2.13 2.04 2.01 2.00 1.96 1.95 1.91 1.99 2.03 2.15
Fixed Asset Turnover		 5.40 5.50 5.61 5.61 5.37 5.47 5.55 5.58 5.44 5.59 5.77
Accounts Payable Turnover		 4.78 5.17 5.01 4.86 4.82 5.05 5.24 5.38 5.53 5.72 6.28
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 160.40 170.98 178.66 181.72 182.75 186.42 187.60 190.63 183.78 180.08 170.09
Days Payable Outstanding (DPO)		 76.40 70.63 72.81 75.08 75.77 72.33 69.70 67.87 66.03 63.86 58.10
Cash Conversion Cycle (CCC)		 84.01 100.35 105.85 106.64 106.98 114.09 117.90 122.76 117.76 116.21 111.99
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 25,580 26,544 27,112 27,075 27,766 28,458 28,268 29,340 32,337 33,030 33,706
Invested Capital Turnover		 0.51 0.50 0.51 0.52 0.53 0.53 0.55 0.56 0.56 0.57 0.60
Increase / (Decrease) in Invested Capital		 1,818 829 1,165 1,190 2,186 1,914 1,156 2,265 4,571 4,572 5,438
Enterprise Value (EV)		 74,280 80,476 86,651 85,501 93,176 0.00 121,115 132,037 142,207 159,693 170,195
Market Capitalization		 66,273 71,782 77,765 77,311 84,691 0.00 113,219 123,406 131,642 148,876 158,907
Book Value per Share		 $12.27 $12.44 $12.68 $12.90 $13.16 $13.57 $13.86 $14.06 $14.77 $15.05 $15.15
Tangible Book Value per Share		 ($0.87) ($1.03) ($1.04) ($0.39) ($0.76) ($0.19) $0.38 ($0.05) ($1.36) ($1.15) ($1.97)
Total Capital		 26,508 27,114 27,538 28,028 28,632 30,787 31,180 31,841 32,749 33,755 34,240
Total Debt		 8,935 9,005 9,053 8,899 9,102 10,619 10,571 10,885 10,746 11,309 11,587
Total Long-Term Debt		 8,915 8,495 8,494 8,386 8,571 9,534 8,991 9,233 8,968 10,532 11,107
Net Debt		 8,007 8,435 8,627 7,947 8,237 8,290 7,658 8,383 10,332 10,584 11,053
Capital Expenditures (CapEx)		 210 108 143 189 267 178 155 179 275 187 157
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,049 1,561 1,457 1,486 1,247 2,025 2,082 2,001 1,885 2,329 1,877
Debt-free Net Working Capital (DFNWC)		 1,977 2,131 1,883 2,438 2,112 4,354 4,995 4,503 2,299 3,054 2,411
Net Working Capital (NWC)		 1,957 1,621 1,324 1,925 1,581 3,269 3,415 2,851 521 2,277 1,931
Net Nonoperating Expense (NNE)		 1.46 75 56 70 79 54 77 46 85 97 -103
Net Nonoperating Obligations (NNO)		 8,007 8,435 8,627 7,946 8,236 8,290 7,659 8,384 10,334 10,584 11,053
Total Depreciation and Amortization (D&A)		 294 285 298 303 313 304 311 306 399 406 373
Debt-free, Cash-free Net Working Capital to Revenue		 8.27% 11.97% 10.87% 10.80% 8.76% 13.77% 13.67% 12.58% 11.26% 13.27% 10.15%
Debt-free Net Working Capital to Revenue		 15.59% 16.34% 14.05% 17.72% 14.83% 29.61% 32.80% 28.30% 13.73% 17.40% 13.04%
Net Working Capital to Revenue		 15.43% 12.43% 9.88% 13.99% 11.10% 22.23% 22.43% 17.92% 3.11% 12.97% 10.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.09 $0.21 $0.18 $0.34 $0.35 $0.34 $0.22 $0.32 $0.38 $0.46 $0.54
Adjusted Weighted Average Basic Shares Outstanding		 1.43B 1.44B 1.45B 1.46B 1.45B 1.47B 1.47B 1.47B 1.47B 1.48B 1.48B
Adjusted Diluted Earnings per Share		 $0.09 $0.21 $0.18 $0.34 $0.34 $0.33 $0.22 $0.32 $0.38 $0.45 $0.53
Adjusted Weighted Average Diluted Shares Outstanding		 1.44B 1.45B 1.46B 1.48B 1.46B 1.48B 1.48B 1.49B 1.49B 1.49B 1.49B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.43B 1.44B 1.46B 1.46B 1.47B 1.47B 1.47B 1.47B 1.48B 1.48B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)		 354 412 384 505 616 564 613 503 651 781 797
Normalized NOPAT Margin		 10.90% 12.15% 10.67% 14.32% 16.53% 14.61% 14.87% 11.96% 14.28% 16.76% 15.74%
Pre Tax Income Margin		 12.18% 13.10% 11.84% 17.30% 13.56% 15.77% 10.19% 15.89% 12.82% 17.26% 18.59%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 7.19 7.83 7.09 10.23 8.91 9.81 6.45 9.46 8.44 10.82 11.47
NOPAT to Interest Expense		 2.21 5.99 4.65 8.69 9.11 7.93 5.18 6.50 8.11 9.38 7.69
EBIT Less CapEx to Interest Expense		 3.91 6.17 5.04 7.36 4.73 7.23 4.44 7.19 5.00 8.54 9.72
NOPAT Less CapEx to Interest Expense		 -1.07 4.33 2.61 5.83 4.94 5.35 3.16 4.24 4.67 7.10 5.94
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 7.88% 6.10% 6.03% 3.34% 1.76% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 7.88% 6.10% 6.03% 3.34% 1.76% 0.79% 0.00% 0.00% 0.00% 0.00% 0.00%

Key Financial Trends

Boston Scientific (NYSE:BSX) Financial Summary Analysis - Last Four Years

Boston Scientific has consistently demonstrated revenue growth over the past four years, accompanied by improving profitability and steady cash flow generation, despite some fluctuations due to acquisitions and restructuring charges.

  • Revenue Growth: Operating revenue increased from approximately $3.2 billion in Q4 2022 to over $5 billion in Q2 2025, showing strong top-line growth reflecting robust demand for its medical devices.
  • Net Income Growth: Consolidated net income rose from $140 million in Q4 2022 to $795 million in Q2 2025, indicating improved profitability and operational efficiency.
  • Gross Profit Improvement: Gross profit consistently increased, from $2.23 billion in Q4 2022 to $3.42 billion in Q2 2025, demonstrating effective cost management and product mix optimization.
  • Operating Cash Flow Strength: Net cash from continuing operating activities increased notably, with $1.29 billion generated in Q2 2025 compared to $807 million in Q4 2022, reflecting better cash conversion from earnings.
  • Research & Development Investment: Continued investment in R&D (around $300-$500 million quarterly) suggests ongoing focus on innovation and future growth potential.
  • Significant Acquisitions: Large cash outflows for acquisitions, especially $3.4 billion in Q4 2024 and $1 billion in Q2 2025, highlight aggressive growth through acquisitions but increase capital expenditure and integration risk.
  • Restructuring and Impairment Charges: Periodic restructuring and impairment charges (e.g., $46 million in Q2 2025, $276 million in Q2 2024) affect operating expenses and net income volatility.
  • Amortization Expense: Substantial amortization (over $200 million quarterly) due to acquisitions impacts profitability, signaling significant acquired intangible assets.
  • Debt Levels and Repayment: Long-term debt increased from approximately $8.9 billion in Q4 2022 to $11.1 billion by Q2 2025, reflecting leverage used to finance acquisitions. Large debt repayments occurred, but balances remain high.
  • Fluctuating Cash Balance: Cash and equivalents fluctuated, peaking around $2.9 billion in Q2 2024 but declining to about $534 million in Q2 2025, partly due to acquisition spending and debt repayments, potentially impacting liquidity.

Summary: Boston Scientific shows a strong growth trajectory with increasing revenues and net income, supported by healthy operating cash flows. Growth has been fueled by both organic initiatives and significant acquisitions, though these bring higher amortization costs and leverage. Continued investment in R&D positions the company well for innovation-led expansion. Investors should monitor debt levels and cash flow management closely, as acquisition spending and restructuring costs may introduce variability in near-term performance.

08/25/25 06:43 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Boston Scientific's Financials

When does Boston Scientific's financial year end?

According to the most recent income statement we have on file, Boston Scientific's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Boston Scientific's net income changed over the last 10 years?

Boston Scientific's net income appears to be on an upward trend, with a most recent value of $1.85 billion in 2024, falling from -$119 million in 2014. The previous period was $1.59 billion in 2023. See where experts think Boston Scientific is headed by visiting Boston Scientific's forecast page.

What is Boston Scientific's operating income?
Boston Scientific's total operating income in 2024 was $2.60 billion, based on the following breakdown:
  • Total Gross Profit: $11.49 billion
  • Total Operating Expenses: $8.89 billion
How has Boston Scientific's revenue changed over the last 10 years?

Over the last 10 years, Boston Scientific's total revenue changed from $7.38 billion in 2014 to $16.75 billion in 2024, a change of 126.9%.

How much debt does Boston Scientific have?

Boston Scientific's total liabilities were at $17.39 billion at the end of 2024, a 11.5% increase from 2023, and a 64.6% increase since 2014.

How much cash does Boston Scientific have?

In the past 10 years, Boston Scientific's cash and equivalents has ranged from $146 million in 2018 to $1.93 billion in 2021, and is currently $414 million as of their latest financial filing in 2024.

How has Boston Scientific's book value per share changed over the last 10 years?

Over the last 10 years, Boston Scientific's book value per share changed from 4.87 in 2014 to 14.77 in 2024, a change of 203.5%.


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This page (NYSE:BSX) was last updated on 8/25/2025 by MarketBeat.com Staff
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