Boston Scientific (BSX) Financials

$55.98 -0.87 (-1.53%)

Closing price 03:59 PM Eastern

Extended Trading

$56.13 +0.15 (+0.27%)

As of 04:46 PM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-239	347	104	1,671	4,700	-115	985	642	1,570	1,853	2,898
Consolidated Net Income / (Loss)	-239	347	104	1,671	4,700	-82	1,041	698	1,592	1,846	2,892
Net Income / (Loss) Continuing Operations	-239	347	105	1,671	4,700	-81	1,040	698	1,592	1,846	2,892
Total Pre-Tax Income	-650	177	933	1,422	687	-79	1,076	1,141	1,985	2,282	3,385
Total Operating Income	-283	447	1,285	1,506	1,518	-80	1,199	1,649	2,343	2,603	3,613
Total Gross Profit	5,304	5,962	6,455	7,011	7,620	6,448	8,177	8,727	9,896	11,490	13,854
Total Revenue	7,477	8,386	9,048	9,823	10,735	9,913	11,888	12,682	14,240	16,747	20,074
Operating Revenue	7,477	8,386	9,048	9,823	10,735	9,913	11,888	12,682	14,240	16,747	20,074
Total Cost of Revenue	2,173	2,424	2,593	2,813	3,116	3,465	3,711	3,956	4,345	5,257	6,221
Operating Cost of Revenue	2,173	2,424	2,593	2,813	3,116	3,465	3,711	3,956	4,345	5,257	6,221
Total Operating Expenses	5,587	5,515	5,170	5,504	6,102	6,528	6,978	7,079	7,553	8,887	10,241
Selling, General & Admin Expense	2,873	3,099	3,294	3,569	3,941	3,787	4,359	4,520	5,190	5,984	6,887
Research & Development Expense	876	920	997	1,113	1,174	1,143	1,204	1,323	1,414	1,615	2,052
Amortization Expense	495	545	565	599	699	789	741	803	828	856	897
Other Operating Expenses / (Income)	70	79	68	70	65	45	-29	69	46	33	46
Impairment Charge	19	11	4.00	35	105	533	370	132	58	386	46
Restructuring Charge	26	28	37	36	38	52	40	24	69	16	101
Other Special Charges / (Income)	1,228	833	205	82	80	178	294	208	-53	-5.00	212
Total Other Income / (Expense), net	-367	-270	-353	-85	-831	1.00	-123	-508	-358	-321	-228
Interest Expense	284	233	229	241	473	361	341	470	265	305	349
Other Income / (Expense), net	-83	-37	-124	156	-358	362	218	-38	-93	-16	121
Income Tax Expense	-411	-170	828	-249	-4,013	2.00	36	443	393	436	493
Preferred Stock Dividends Declared	-	-	-	0.00	0.00	33	55	55	23	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	-1.00	-8.00	-6.00
Basic Earnings per Share	($0.18)	$0.26	$0.08	$1.21	$3.38	($0.08)	$0.69	$0.45	$1.08	$1.26	$1.96
Weighted Average Basic Shares Outstanding	1.34B	1.36B	1.37B	1.38B	1.39B	1.42B	1.42B	1.43B	1.45B	1.47B	1.48B
Diluted Earnings per Share	($0.18)	$0.25	$0.08	$1.19	$3.33	($0.08)	$0.69	$0.45	$1.07	$1.25	$1.94
Weighted Average Diluted Shares Outstanding	1.34B	1.38B	1.39B	1.40B	1.41B	1.42B	1.43B	1.44B	1.46B	1.49B	1.49B
Weighted Average Basic & Diluted Shares Outstanding	1.33B	1.33B	1.37B	1.38B	1.40B	1.42B	1.43B	1.43B	1.47B	1.48B	1.48B

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	505	504	495	324	469	565	674	797	755	672	1,341
Consolidated Net Income / (Loss)	504	504	493	322	468	563	672	795	755	670	1,339
Net Income / (Loss) Continuing Operations	505	504	493	322	469	562	672	795	756	669	1,338
Total Pre-Tax Income	610	505	608	420	669	585	805	941	939	700	1,162
Total Operating Income	693	584	675	520	733	675	921	819	1,048	825	1,101
Total Gross Profit	2,426	2,579	2,648	2,850	2,897	3,095	3,210	3,424	3,542	3,678	3,614
Total Revenue	3,527	3,725	3,856	4,120	4,209	4,562	4,663	5,061	5,065	5,285	5,203
Operating Revenue	3,527	3,725	3,856	4,120	4,209	4,562	4,663	5,061	5,065	5,285	5,203
Total Cost of Revenue	1,101	1,146	1,209	1,270	1,312	1,466	1,453	1,637	1,523	1,608	1,590
Operating Cost of Revenue	1,101	1,146	1,209	1,270	1,312	1,466	1,453	1,637	1,523	1,608	1,590
Total Operating Expenses	1,733	1,994	1,973	2,330	2,164	2,420	2,288	2,605	2,494	2,854	2,513
Selling, General & Admin Expense	1,242	1,379	1,364	1,446	1,562	1,612	1,597	1,716	1,741	1,833	1,781
Research & Development Expense	356	362	366	383	407	459	443	526	514	569	516
Amortization Expense	208	207	214	213	205	224	219	225	225	228	232
Other Operating Expenses / (Income)	11	12	10	9.00	5.00	9.00	14	14	12	6.00	12
Restructuring Charge	15	18	3.00	1.00	8.00	4.00	10	83	-8.00	16	3.00
Other Special Charges / (Income)	-99	15	17	2.00	-23	-1.00	5.00	-5.00	11	201	-30
Total Other Income / (Expense), net	-84	-78	-67	-100	-65	-73	-116	123	-110	-125	61
Interest Expense	66	64	69	77	79	80	82	90	87	90	90
Other Income / (Expense), net	-18	-14	2.00	-23	14	-	-34	213	-23	-35	151
Income Tax Expense	105	1.00	115	98	200	23	133	146	183	31	-176
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-1.00	-1.00	-2.00	0.00	-7.00	-2.00	-2.00	0.00	-2.00	-2.00
Basic Earnings per Share	$0.34	$0.35	$0.34	$0.22	$0.32	$0.38	$0.46	$0.54	$0.51	$0.45	$0.90
Weighted Average Basic Shares Outstanding	1.46B	1.45B	1.47B	1.47B	1.47B	1.47B	1.48B	1.48B	1.48B	1.48B	1.48B
Diluted Earnings per Share	$0.34	$0.34	$0.33	$0.22	$0.32	$0.38	$0.45	$0.53	$0.51	$0.45	$0.90
Weighted Average Diluted Shares Outstanding	1.48B	1.46B	1.48B	1.48B	1.49B	1.49B	1.49B	1.49B	1.50B	1.49B	1.50B
Weighted Average Basic & Diluted Shares Outstanding	1.46B	1.47B	1.47B	1.47B	1.47B	1.48B	1.48B	1.48B	1.48B	1.48B	1.49B

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	-223	87	530	-187	-232	1,388	173	-1,042	-70	-450	1,541
Net Cash From Operating Activities	691	1,182	1,426	310	1,836	1,508	1,870	1,526	2,503	3,435	4,534
Net Cash From Continuing Operating Activities	691	1,182	1,426	311	1,838	1,508	1,871	1,527	2,505	3,434	4,534
Net Income / (Loss) Continuing Operations	-239	347	104	1,671	4,700	-82	1,041	698	1,592	1,846	2,892
Consolidated Net Income / (Loss)	-239	347	104	1,671	4,700	-82	1,041	698	1,592	1,846	2,892
Depreciation Expense	769	815	844	894	1,011	1,123	1,093	1,136	1,196	1,269	1,368
Amortization Expense	36	22	10	6.00	46	58	34	32	6.00	51	132
Non-Cash Adjustments To Reconcile Net Income	331	68	237	-91	713	432	-24	541	434	728	346
Changes in Operating Assets and Liabilities, net	-206	-70	231	-2,169	-4,632	-23	-273	-880	-723	-460	-204
Net Cash From Investing Activities	-2,186	-887	-1,010	-1,921	-5,041	-411	-1,596	-2,011	-2,574	-5,687	-2,640
Net Cash From Continuing Investing Activities	-2,186	-887	-1,010	-1,922	-5,042	-411	-1,596	-2,011	-2,574	-5,687	-2,639
Purchase of Property, Plant & Equipment	-247	-376	-319	-316	-461	-376	-554	-588	-711	-790	-876
Acquisitions	-1,734	-408	-560	-1,448	-4,382	-3.00	-2,258	-1,542	-1,811	-4,640	-1,593
Purchase of Investments	-266	-132	-131	-172	-348	-146	279	32	-89	-280	-254
Other Investing Activities, net	-	-	0.00	0.00	52	87	82	70	37	23	84
Net Cash From Financing Activities	1,276	-206	110	1,432	2,973	293	-95	-548	5.00	1,814	-395
Net Cash From Continuing Financing Activities	1,277	-206	110	1,431	2,973	294	-95	-547	6.00	1,814	-395
Repayment of Debt	-1,715	-820	-3,216	-1,171	-5,135	-6,843	0.00	-3,435	-81	-318	-1,784
Issuance of Debt	3,100	630	3,339	2,576	7,929	5,844	0.00	3,270	0.00	2,145	1,558
Issuance of Common Equity	114	111	85	101	123	1,086	110	136	182	230	282
Other Financing Activities, net	-222	-127	-98	-75	56	-205	-150	-463	-95	-243	-451
Effect of Exchange Rate Changes	-4.00	-2.00	4.00	-8.00	-	-2.00	-6.00	-9.00	-4.00	-11	42
Cash Interest Paid	283	233	235	262	449	359	338	450	259	250	319
Cash Income Taxes Paid	80	94	42	1,037	242	207	302	662	512	656	561

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	512	-77	1,441	565	-412	-2,044	314	-220	776	671	-504
Net Cash From Operating Activities	698	957	164	813	1,002	1,456	541	1,286	1,343	1,364	348
Net Cash From Continuing Operating Activities	697	958	163	813	1,004	1,454	541	1,287	1,342	1,364	348
Net Income / (Loss) Continuing Operations	504	504	493	322	469	562	672	795	755	670	1,339
Consolidated Net Income / (Loss)	504	504	493	322	469	562	672	795	755	670	1,339
Depreciation Expense	300	313	304	311	306	348	325	336	342	365	351
Amortization Expense	3.00	-	0.00	-	-	51	81	37	9.00	5.00	2.00
Non-Cash Adjustments To Reconcile Net Income	56	158	113	377	49	117	148	-144	193	149	-456
Changes in Operating Assets and Liabilities, net	-166	-17	-747	-197	180	376	-685	263	43	175	-888
Net Cash From Investing Activities	-197	-1,053	-285	-271	-1,427	-3,704	-500	-1,126	-502	-512	-591
Net Cash From Continuing Investing Activities	-198	-1,053	-285	-272	-1,426	-3,705	-500	-1,126	-503	-510	-591
Purchase of Property, Plant & Equipment	-190	-267	-179	-155	-179	-277	-187	-157	-181	-351	-177
Acquisitions	-	-793	-47	-48	-1,127	-3,418	-239	-1,009	-256	-89	-523
Purchase of Investments	-16	2.00	-66	-73	-125	-16	-77	-33	-70	-74	61
Other Investing Activities, net	7.00	7.00	7.00	4.00	5.00	4.00	3.00	4.00	4.00	73	48
Net Cash From Financing Activities	16	15	1,569	24	7.00	214	233	-340	-104	-184	-260
Net Cash From Continuing Financing Activities	16	15	1,569	24	7.00	213	234	-340	-106	-183	-260
Repayment of Debt	-41	-	-504	-	-	187	-1,285	-309	-209	9.00	-256
Issuance of Debt	-	-	2,145	-	22	2.00	1,558	-	-	-	0.00
Issuance of Common Equity	75	17	80	26	96	28	115	32	115	20	81
Other Financing Activities, net	-18	-2.00	-152	-2.00	-111	-4.00	-154	-63	-12	-212	-85
Effect of Exchange Rate Changes	-5.00	4.00	-7.00	-1.00	6.00	-9.00	39	-	-	3.00	0.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	18,133	18,096	19,042	20,999	30,565	30,777	32,229	32,469	35,136	39,395	43,673
Total Current Assets	3,471	3,239	3,822	4,003	4,699	6,694	6,317	5,760	6,514	6,920	8,794
Cash & Equivalents	319	196	188	146	217	1,734	1,925	928	865	414	1,965
Note & Lease Receivable	1,275	1,472	1,548	1,608	1,828	1,531	1,778	1,970	2,228	2,558	2,926
Inventories, net	1,016	955	1,078	1,166	1,579	1,351	1,610	1,867	2,484	2,810	2,943
Prepaid Expenses	365	541	942	921	880	751	799	731	621	831	660
Current Deferred & Refundable Income Taxes	496	75	66	161	195	194	205	264	315	307	299
Plant, Property, & Equipment, net	1,490	1,630	1,697	1,782	2,079	2,084	2,252	2,446	2,859	3,294	4,036
Total Noncurrent Assets	13,172	13,227	13,523	15,216	23,787	21,999	23,661	24,264	25,762	29,182	30,842
Goodwill	6,473	6,678	6,998	7,911	10,176	9,951	11,988	12,920	14,387	17,089	18,282
Intangible Assets	6,194	5,883	5,837	6,372	7,886	5,917	6,121	5,902	6,003	6,684	7,019
Noncurrent Deferred & Refundable Income Taxes	-	-	-	87	4,196	4,210	4,142	3,942	3,841	3,655	3,675
Other Noncurrent Operating Assets	505	666	688	846	1,529	1,921	1,410	1,500	1,531	1,754	1,866
Total Liabilities & Shareholders' Equity	18,133	18,096	19,042	20,999	30,565	30,777	32,229	32,469	35,136	39,395	43,673
Total Liabilities	11,813	11,363	12,030	12,273	16,688	15,450	15,608	14,897	15,605	17,392	19,201
Total Current Liabilities	2,430	3,587	5,654	5,260	4,866	3,681	4,274	3,803	4,933	6,399	5,439
Short-Term Debt	3.00	64	1,801	2,253	1,416	13	261	20	531	1,778	299
Accounts Payable	209	447	530	349	542	513	794	862	942	960	1,144
Accrued Expenses	1,970	2,312	2,456	2,246	2,109	2,197	2,436	2,160	2,646	2,773	3,201
Other Current Liabilities	248	764	867	412	800	958	783	761	814	887	795
Total Noncurrent Liabilities	9,383	7,776	6,376	7,013	11,822	11,769	11,334	11,094	10,672	10,993	13,762
Long-Term Debt	5,674	5,420	3,815	4,803	8,592	9,130	8,804	8,915	8,571	8,968	11,137
Noncurrent Deferred & Payable Income Tax Liabilities	735	18	191	328	595	330	310	144	134	155	220
Other Noncurrent Operating Liabilities	2,974	2,338	2,370	1,882	2,635	2,309	2,220	2,035	1,967	1,870	2,405
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	6,320	6,733	7,012	8,726	13,877	15,326	16,622	17,573	19,530	22,003	24,472
Total Preferred & Common Equity	6,320	6,733	7,011	8,726	13,877	15,337	16,623	17,573	19,282	21,770	24,233
Preferred Stock	0.00	0.00	0.00	0.00	0.00	10	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,320	6,733	7,011	8,726	13,877	15,327	16,623	17,574	19,281	21,770	24,232
Common Stock	16,876	17,030	17,177	17,362	17,577	19,749	20,003	20,306	20,664	21,073	21,522
Retained Earnings	-8,927	-8,581	-8,390	-6,953	-2,253	-2,378	-1,392	-750	819	2,673	5,571
Treasury Stock	-1,717	-1,717	-1,717	-1,717	-1,717	-2,251	-2,251	-2,251	-2,251	-2,251	-2,251
Accumulated Other Comprehensive Income / (Loss)	88	1.00	-59	33	270	207	263	269	49	275	-610
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	248	233	239

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	33,601	34,043	35,136	36,669	37,108	38,078	39,395	40,140	41,559	42,707	44,351
Total Current Assets	5,886	6,504	6,514	8,185	8,991	8,761	6,920	7,335	7,121	8,035	8,684
Cash & Equivalents	426	952	865	2,329	2,913	2,502	414	725	534	1,275	1,453
Note & Lease Receivable	2,134	2,101	2,228	2,304	2,400	2,501	2,558	2,693	2,815	2,828	3,027
Inventories, net	2,250	2,404	2,484	2,561	2,608	2,753	2,810	2,867	2,861	2,921	3,117
Prepaid Expenses	773	741	621	671	756	674	831	756	613	701	729
Current Deferred & Refundable Income Taxes	303	307	315	319	315	332	307	294	298	310	358
Plant, Property, & Equipment, net	2,534	2,635	2,859	2,897	2,951	3,072	3,294	3,389	3,461	3,795	4,063
Total Noncurrent Assets	25,182	24,902	25,762	25,588	25,166	26,245	29,182	29,416	30,978	30,877	31,603
Goodwill	13,659	13,608	14,387	14,361	14,397	15,033	17,089	17,340	18,076	18,214	18,536
Intangible Assets	6,063	5,849	6,003	5,839	5,417	5,754	6,684	6,566	7,260	7,162	7,060
Noncurrent Deferred & Refundable Income Taxes	3,865	3,840	3,841	3,792	3,801	3,816	3,655	3,676	3,778	3,669	3,953
Other Noncurrent Operating Assets	1,595	1,605	1,531	1,596	1,551	1,642	1,754	1,834	1,864	1,832	2,054
Total Liabilities & Shareholders' Equity	33,601	34,043	35,136	36,669	37,108	38,078	39,395	40,140	41,559	42,707	44,351
Total Liabilities	15,117	14,914	15,605	16,501	16,499	17,122	17,392	17,694	18,906	19,077	18,247
Total Current Liabilities	4,562	4,579	4,933	4,916	5,576	5,910	6,399	5,058	5,190	5,328	4,571
Short-Term Debt	559	513	531	1,085	1,580	1,652	1,778	777	480	483	41
Accounts Payable	899	929	942	921	906	907	960	1,004	962	1,002	1,141
Accrued Expenses	2,164	2,255	2,646	2,083	2,320	2,460	2,773	2,354	2,797	2,981	2,514
Other Current Liabilities	940	882	814	827	770	891	887	923	952	862	875
Total Noncurrent Liabilities	10,555	10,335	10,672	11,585	10,923	11,212	10,993	12,636	13,716	13,749	13,676
Long-Term Debt	8,494	8,386	8,571	9,534	8,991	9,233	8,968	10,532	11,107	11,117	10,988
Noncurrent Deferred & Payable Income Tax Liabilities	135	91	134	132	132	138	155	158	226	242	219
Other Noncurrent Operating Liabilities	1,926	1,858	1,967	1,919	1,800	1,841	1,870	1,946	2,383	2,390	2,469
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	18,485	19,129	19,530	20,168	20,609	20,956	22,003	22,446	22,653	23,630	26,104
Total Preferred & Common Equity	18,226	18,886	19,282	19,926	20,371	20,708	21,770	22,212	22,418	23,394	25,864
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	18,226	18,885	19,281	19,925	20,372	20,708	21,770	22,212	22,418	23,395	25,864
Common Stock	20,458	20,590	20,664	20,730	20,820	20,980	21,073	21,144	21,247	21,436	21,601
Retained Earnings	-189	315	819	1,314	1,639	2,107	2,673	3,347	4,144	4,899	6,912
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)	208	231	49	132	164	-128	275	-28	-722	-689	-398
Noncontrolling Interest	259	243	248	242	238	248	233	233	235	236	240

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.31%	12.16%	7.89%	8.57%	9.28%	-7.66%	19.92%	6.68%	12.29%	17.61%	19.87%
EBITDA Growth	-0.45%	184.05%	61.59%	27.15%	-13.47%	-34.01%	73.89%	9.24%	24.22%	13.64%	33.96%
EBIT Growth	-24.91%	212.02%	183.17%	43.15%	-30.20%	-75.69%	402.48%	13.69%	39.66%	15.69%	44.34%
NOPAT Growth	5.98%	542.36%	-83.50%	1,123.75%	486.83%	-100.54%	2,169.44%	-12.95%	86.28%	12.06%	46.59%
Net Income Growth	-100.84%	245.19%	-70.03%	1,506.73%	181.27%	-101.74%	1,369.51%	-32.95%	128.08%	15.95%	56.66%
EPS Growth	-100.00%	238.89%	-68.00%	1,387.50%	179.83%	-102.40%	962.50%	-34.78%	137.78%	16.82%	55.20%
Operating Cash Flow Growth	-45.55%	71.06%	20.64%	-78.26%	492.26%	-17.86%	24.01%	-18.40%	64.02%	37.24%	31.99%
Free Cash Flow Firm Growth	-842.56%	130.27%	-151.45%	-419.81%	265.05%	-14.70%	-149.81%	19.09%	62.08%	-703.36%	160.15%
Invested Capital Growth	15.46%	2.94%	3.49%	25.69%	51.36%	-8.72%	9.99%	7.65%	8.55%	16.46%	4.96%
Revenue Q/Q Growth	1.23%	2.61%	2.47%	1.57%	3.30%	-1.94%	3.65%	0.92%	3.51%	5.26%	3.74%
EBITDA Q/Q Growth	475.21%	135.73%	27.13%	18.45%	10.41%	72.32%	-7.02%	9.41%	3.88%	5.32%	4.85%
EBIT Q/Q Growth	37.76%	3,253.85%	13.49%	4.79%	-13.82%	422.22%	-12.15%	18.72%	5.14%	4.50%	7.83%
NOPAT Q/Q Growth	48.45%	1,464.86%	-87.68%	137.12%	479.16%	-200.00%	18.33%	-6.36%	32.88%	3.23%	4.66%
Net Income Q/Q Growth	39.65%	328.40%	-87.66%	149.40%	331.19%	-102.21%	-9.87%	6.89%	29.64%	3.30%	3.84%
EPS Q/Q Growth	37.93%	316.67%	-86.67%	147.92%	332.47%	-103.07%	-10.39%	7.14%	30.49%	3.31%	3.74%
Operating Cash Flow Q/Q Growth	-2.81%	27.65%	0.56%	-68.21%	57.87%	-32.56%	37.91%	27.49%	6.37%	17.00%	-1.99%
Free Cash Flow Firm Q/Q Growth	-10.39%	74.86%	-27.18%	-51.62%	162.43%	179.94%	-485.62%	33.05%	-236.90%	-994.32%	189.02%
Invested Capital Q/Q Growth	-2.02%	3.01%	-4.75%	6.03%	16.52%	-5.58%	0.69%	-1.18%	2.55%	10.21%	-0.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.94%	71.09%	71.34%	71.37%	70.98%	65.05%	68.78%	68.81%	69.49%	68.61%	69.01%
EBITDA Margin	5.87%	14.87%	22.27%	26.08%	20.65%	14.76%	21.40%	21.91%	24.24%	23.43%	26.07%
Operating Margin	-3.78%	5.33%	14.20%	15.33%	14.14%	-0.81%	10.09%	13.00%	16.45%	15.54%	18.00%
EBIT Margin	-4.90%	4.89%	12.83%	16.92%	10.81%	2.84%	11.92%	12.70%	15.80%	15.54%	18.60%
Profit (Net Income) Margin	-3.20%	4.14%	1.15%	17.01%	43.78%	-0.83%	8.76%	5.50%	11.18%	11.02%	14.41%
Tax Burden Percent	36.77%	196.05%	11.15%	117.51%	684.13%	103.80%	96.75%	61.17%	80.20%	80.89%	85.44%
Interest Burden Percent	177.60%	43.17%	80.36%	85.56%	59.22%	-28.01%	75.94%	70.83%	88.22%	87.67%	90.65%
Effective Tax Rate	0.00%	-96.05%	88.75%	-17.51%	-584.13%	0.00%	3.35%	38.83%	19.80%	19.11%	14.56%
Return on Invested Capital (ROIC)	-1.82%	7.40%	1.18%	12.61%	52.85%	-0.25%	5.11%	4.09%	7.05%	7.01%	9.31%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.73%	-2.55%	0.42%	11.01%	-15.24%	-0.57%	3.35%	-0.01%	3.51%	4.21%	7.35%
Return on Net Nonoperating Assets (RNNOA)	-1.92%	-2.08%	0.33%	8.63%	-11.26%	-0.31%	1.41%	-0.01%	1.54%	1.88%	3.13%
Return on Equity (ROE)	-3.74%	5.32%	1.51%	21.24%	41.59%	-0.56%	6.52%	4.08%	8.58%	8.89%	12.45%
Cash Return on Invested Capital (CROIC)	-16.17%	4.50%	-2.24%	-10.16%	11.98%	8.87%	-4.41%	-3.28%	-1.15%	-8.20%	4.47%
Operating Return on Assets (OROA)	-2.08%	2.26%	6.25%	8.30%	4.50%	0.92%	4.50%	4.98%	6.66%	6.99%	8.99%
Return on Assets (ROA)	-1.36%	1.92%	0.56%	8.35%	18.23%	-0.27%	3.30%	2.16%	4.71%	4.95%	6.96%
Return on Common Equity (ROCE)	-3.74%	5.32%	1.51%	21.23%	41.59%	-0.56%	6.52%	4.08%	8.52%	8.79%	12.32%
Return on Equity Simple (ROE_SIMPLE)	-3.78%	5.15%	1.48%	19.15%	33.87%	-0.53%	6.26%	3.97%	8.26%	8.48%	0.00%
Net Operating Profit after Tax (NOPAT)	-198	876	145	1,770	10,385	-56	1,159	1,009	1,879	2,106	3,087
NOPAT Margin	-2.65%	10.45%	1.60%	18.02%	96.74%	-0.56%	9.75%	7.95%	13.20%	12.57%	15.38%
Net Nonoperating Expense Percent (NNEP)	0.91%	9.94%	0.76%	1.60%	68.09%	0.32%	1.76%	4.10%	3.54%	2.80%	1.97%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.81%	6.56%	6.43%	8.60%
Cost of Revenue to Revenue	29.06%	28.91%	28.66%	28.64%	29.03%	34.95%	31.22%	31.19%	30.51%	31.39%	30.99%
SG&A Expenses to Revenue	38.42%	36.95%	36.41%	36.33%	36.71%	38.20%	36.67%	35.64%	36.45%	35.73%	34.31%
R&D to Revenue	11.72%	10.97%	11.02%	11.33%	10.94%	11.53%	10.13%	10.43%	9.93%	9.64%	10.22%
Operating Expenses to Revenue	74.72%	65.76%	57.14%	56.03%	56.84%	65.85%	58.70%	55.82%	53.03%	53.07%	51.02%
Earnings before Interest and Taxes (EBIT)	-366	410	1,161	1,662	1,160	282	1,417	1,611	2,250	2,603	3,734
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	439	1,247	2,015	2,562	2,217	1,463	2,544	2,779	3,452	3,923	5,234
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.92	4.37	4.86	5.60	4.54	3.36	3.64	3.77	4.39	6.05	5.83
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)	3.32	3.51	3.76	4.98	5.87	5.19	5.09	5.23	5.95	7.86	7.04
Price to Earnings (P/E)	0.00	84.88	327.32	29.27	13.41	0.00	61.46	103.23	53.94	71.04	48.78
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%	1.18%	0.31%	3.42%	7.46%	0.00%	1.63%	0.97%	1.85%	1.41%	2.05%
Enterprise Value to Invested Capital (EV/IC)	2.58	2.89	3.17	3.57	3.08	2.73	2.85	2.90	3.36	4.40	4.45
Enterprise Value to Revenue (EV/Rev)	4.03	4.14	4.36	5.68	6.78	5.94	5.69	5.86	6.54	8.49	7.53
Enterprise Value to EBITDA (EV/EBITDA)	68.71	27.86	19.59	21.79	32.85	40.26	26.60	26.73	26.99	36.25	28.86
Enterprise Value to EBIT (EV/EBIT)	0.00	84.73	34.00	33.58	62.78	208.85	47.76	46.11	41.41	54.63	40.46
Enterprise Value to NOPAT (EV/NOPAT)	0.00	39.64	272.93	31.54	7.01	0.00	58.40	73.63	49.58	67.54	48.94
Enterprise Value to Operating Cash Flow (EV/OCF)	43.65	29.39	27.68	180.04	39.66	39.06	36.19	48.68	37.23	41.40	33.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	65.14	0.00	0.00	30.93	29.33	0.00	0.00	0.00	0.00	101.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	0.81	0.80	0.81	0.72	0.60	0.55	0.51	0.47	0.49	0.47
Long-Term Debt to Equity	0.90	0.81	0.54	0.55	0.62	0.60	0.53	0.51	0.44	0.41	0.46
Financial Leverage	0.71	0.82	0.78	0.78	0.74	0.55	0.42	0.44	0.44	0.45	0.43
Leverage Ratio	2.75	2.78	2.70	2.54	2.28	2.10	1.97	1.89	1.82	1.79	1.79
Compound Leverage Factor	4.89	1.20	2.17	2.18	1.35	-0.59	1.50	1.34	1.61	1.57	1.62
Debt to Total Capital	47.32%	44.89%	44.47%	44.71%	41.90%	37.37%	35.29%	33.71%	31.79%	32.81%	31.85%
Short-Term Debt to Total Capital	0.03%	0.52%	14.26%	14.28%	5.93%	0.05%	1.02%	0.08%	1.85%	5.43%	0.83%
Long-Term Debt to Total Capital	47.30%	44.36%	30.21%	30.43%	35.97%	37.31%	34.27%	33.63%	29.94%	27.38%	31.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.00%	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%	0.87%	0.71%	0.67%
Common Equity to Total Capital	52.68%	55.11%	55.52%	55.29%	58.10%	62.64%	64.71%	66.30%	67.34%	66.48%	67.48%
Debt to EBITDA	12.93	4.40	2.79	2.75	4.51	6.25	3.56	3.22	2.64	2.74	2.18
Net Debt to EBITDA	12.21	4.24	2.69	2.70	4.42	5.06	2.81	2.88	2.39	2.63	1.81
Long-Term Debt to EBITDA	12.92	4.35	1.89	1.87	3.88	6.24	3.46	3.21	2.48	2.29	2.13
Debt to NOPAT	-28.66	6.26	38.83	3.99	0.96	-163.27	7.82	8.86	4.84	5.10	3.70
Net Debt to NOPAT	-27.05	6.03	37.53	3.90	0.94	-132.30	6.16	7.94	4.38	4.91	3.07
Long-Term Debt to NOPAT	-28.64	6.18	26.38	2.71	0.83	-163.04	7.60	8.84	4.56	4.26	3.61
Altman Z-Score	0.99	1.41	1.64	2.58	2.63	2.36	2.86	3.26	3.96	5.30	5.43
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.01%	0.01%	0.00%	0.00%	-0.01%	-0.01%	0.67%	1.16%	1.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.43	0.90	0.68	0.76	0.97	1.82	1.48	1.51	1.32	1.08	1.62
Quick Ratio	0.66	0.47	0.31	0.33	0.42	0.89	0.87	0.76	0.63	0.46	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,762	533	-274	-1,426	2,354	2,008	-1,000	-809	-307	-2,465	1,483
Operating Cash Flow to CapEx	279.76%	340.63%	447.02%	102.65%	404.41%	414.29%	346.30%	264.93%	354.03%	436.47%	517.58%
Free Cash Flow to Firm to Interest Expense	-6.20	2.29	-1.20	-5.92	4.98	5.56	-2.93	-1.72	-1.16	-8.08	4.25
Operating Cash Flow to Interest Expense	2.43	5.07	6.23	1.29	3.88	4.18	5.48	3.25	9.45	11.26	12.99
Operating Cash Flow Less CapEx to Interest Expense	1.56	3.58	4.83	0.03	2.92	3.17	3.90	2.02	6.78	8.68	10.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.43	0.46	0.49	0.49	0.42	0.32	0.38	0.39	0.42	0.45	0.48
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	2.22	2.46	2.55	2.51	2.27	2.37	2.51	2.28	2.00	1.99	2.16
Fixed Asset Turnover	4.99	5.38	5.44	5.65	5.56	4.76	5.48	5.40	5.37	5.44	5.48
Accounts Payable Turnover	9.23	7.39	5.31	6.40	6.99	6.57	5.68	4.78	4.82	5.53	5.91
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)	164.78	148.39	143.09	145.58	160.77	154.32	145.62	160.40	182.75	183.78	168.77
Days Payable Outstanding (DPO)	39.56	49.39	68.76	57.03	52.18	55.57	64.28	76.40	75.77	66.03	61.72
Cash Conversion Cycle (CCC)	125.22	99.00	74.32	88.56	108.59	98.76	81.34	84.01	106.98	117.76	107.05
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,678	12,021	12,440	15,636	23,667	21,603	23,762	25,580	27,766	32,337	33,941
Invested Capital Turnover	0.69	0.71	0.74	0.70	0.55	0.44	0.52	0.51	0.53	0.56	0.61
Increase / (Decrease) in Invested Capital	1,564	343	419	3,196	8,031	-2,064	2,159	1,818	2,186	4,571	1,604
Enterprise Value (EV)	30,163	34,741	39,470	55,814	72,820	58,897	67,674	74,280	93,176	142,207	151,061
Market Capitalization	24,805	29,453	34,042	48,904	63,029	51,478	60,534	66,273	84,691	131,642	141,351
Book Value per Share	$4.70	$4.94	$5.11	$6.31	$9.96	$10.70	$11.67	$12.27	$13.16	$14.77	$16.35
Tangible Book Value per Share	($4.72)	($4.28)	($4.24)	($4.02)	($3.00)	($0.38)	($1.04)	($0.87)	($0.76)	($1.36)	($0.72)
Total Capital	11,997	12,217	12,628	15,782	23,885	24,469	25,687	26,508	28,632	32,749	35,908
Total Debt	5,677	5,484	5,616	7,056	10,008	9,143	9,065	8,935	9,102	10,746	11,436
Total Long-Term Debt	5,674	5,420	3,815	4,803	8,592	9,130	8,804	8,915	8,571	8,968	11,137
Net Debt	5,358	5,288	5,428	6,910	9,791	7,409	7,140	8,007	8,237	10,332	9,471
Capital Expenditures (CapEx)	247	347	319	302	454	364	540	576	707	787	876
Debt-free, Cash-free Net Working Capital (DFCFNWC)	725	-480	-219	850	1,032	1,292	379	1,049	1,247	1,885	1,689
Debt-free Net Working Capital (DFNWC)	1,044	-284	-31	996	1,249	3,026	2,304	1,977	2,112	2,299	3,654
Net Working Capital (NWC)	1,041	-348	-1,832	-1,257	-167	3,013	2,043	1,957	1,581	521	3,355
Net Nonoperating Expense (NNE)	41	529	41	99	5,685	26	118	311	287	260	195
Net Nonoperating Obligations (NNO)	5,358	5,288	5,428	6,910	9,790	6,277	7,140	8,007	8,236	10,334	9,469
Total Depreciation and Amortization (D&A)	805	837	854	900	1,057	1,181	1,127	1,168	1,202	1,320	1,500
Debt-free, Cash-free Net Working Capital to Revenue	9.70%	-5.72%	-2.42%	8.65%	9.61%	13.03%	3.19%	8.27%	8.76%	11.26%	8.41%
Debt-free Net Working Capital to Revenue	13.96%	-3.39%	-0.34%	10.14%	11.63%	30.53%	19.38%	15.59%	14.83%	13.73%	18.20%
Net Working Capital to Revenue	13.92%	-4.15%	-20.25%	-12.80%	-1.56%	30.39%	17.19%	15.43%	11.10%	3.11%	16.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	$0.26	$0.08	$1.21	$3.38	($0.08)	$0.69	$0.45	$1.08	$1.26	$1.96
Adjusted Weighted Average Basic Shares Outstanding	1.34B	1.36B	1.37B	1.38B	1.39B	1.42B	1.42B	1.43B	1.45B	1.47B	1.48B
Adjusted Diluted Earnings per Share	($0.18)	$0.25	$0.08	$1.19	$3.33	($0.08)	$0.69	$0.45	$1.07	$1.25	$1.94
Adjusted Weighted Average Diluted Shares Outstanding	1.34B	1.38B	1.39B	1.40B	1.41B	1.42B	1.43B	1.44B	1.46B	1.49B	1.49B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.38	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.35B	1.36B	1.37B	1.39B	1.40B	1.42B	1.43B	1.43B	1.47B	1.48B	1.48B
Normalized Net Operating Profit after Tax (NOPAT)	693	923	1,072	1,161	1,219	478	1,839	1,231	1,938	2,427	3,394
Normalized NOPAT Margin	9.27%	11.01%	11.84%	11.82%	11.35%	4.82%	15.47%	9.71%	13.61%	14.49%	16.91%
Pre Tax Income Margin	-8.69%	2.11%	10.31%	14.48%	6.40%	-0.80%	9.05%	9.00%	13.94%	13.63%	16.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.29	1.76	5.07	6.90	2.45	0.78	4.16	3.43	8.49	8.53	10.70
NOPAT to Interest Expense	-0.70	3.76	0.63	7.34	21.96	-0.16	3.40	2.15	7.09	6.90	8.84
EBIT Less CapEx to Interest Expense	-2.16	0.27	3.68	5.64	1.49	-0.23	2.57	2.20	5.82	5.95	8.19
NOPAT Less CapEx to Interest Expense	-1.57	2.27	-0.76	6.09	21.00	-1.16	1.81	0.92	4.42	4.32	6.33
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-34.15%	5.28%	7.88%	1.76%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-686.59%	5.28%	7.88%	1.76%	0.00%	0.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,483,885,456.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,483,885,456.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.90
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.26%	14.90%	13.78%	14.48%	19.34%	22.47%	20.93%	22.84%	20.34%	15.85%	11.58%
EBITDA Growth	63.55%	17.11%	23.55%	1.76%	7.67%	21.63%	31.80%	73.89%	30.67%	8.92%	24.13%
EBIT Growth	119.87%	23.91%	33.01%	0.20%	10.67%	18.42%	31.02%	107.65%	37.22%	18.62%	41.15%
NOPAT Growth	108.84%	312.01%	40.65%	22.38%	-10.43%	11.26%	40.47%	73.56%	64.20%	21.59%	64.89%
Net Income Growth	168.09%	260.00%	57.01%	19.26%	-7.14%	11.71%	36.31%	146.89%	61.32%	19.01%	99.26%
EPS Growth	183.33%	277.78%	57.14%	22.22%	-5.88%	11.76%	36.36%	140.91%	59.38%	18.42%	100.00%
Operating Cash Flow Growth	48.51%	18.59%	-13.68%	23.56%	43.55%	52.14%	229.88%	58.18%	34.03%	-6.32%	-35.67%
Free Cash Flow Firm Growth	69.36%	4.38%	-210.70%	9.76%	-184.14%	-144.68%	-178.28%	-526.68%	-115.36%	79.21%	63.68%
Invested Capital Growth	4.60%	8.55%	7.21%	4.26%	8.37%	16.46%	16.07%	19.24%	15.73%	4.96%	8.02%
Revenue Q/Q Growth	-2.00%	5.61%	3.52%	6.85%	2.16%	8.39%	2.21%	8.54%	0.08%	4.34%	-1.55%
EBITDA Q/Q Growth	23.17%	-9.71%	11.10%	-17.64%	30.32%	1.99%	20.39%	8.66%	-2.06%	-15.70%	38.36%
EBIT Q/Q Growth	36.09%	-15.56%	18.77%	-26.59%	50.30%	-9.64%	31.41%	16.35%	-0.68%	-22.93%	58.48%
NOPAT Q/Q Growth	76.11%	1.59%	-6.09%	-27.16%	28.90%	26.19%	18.56%	-10.00%	21.94%	-6.55%	60.79%
Net Income Q/Q Growth	86.67%	0.00%	-2.18%	-34.69%	45.34%	20.30%	19.36%	18.30%	-5.03%	-11.26%	99.85%
EPS Q/Q Growth	88.89%	0.00%	-2.94%	-33.33%	45.45%	18.75%	18.42%	17.78%	-3.77%	-11.76%	100.00%
Operating Cash Flow Q/Q Growth	6.08%	37.11%	-82.86%	395.73%	23.25%	45.31%	-62.84%	137.71%	4.43%	1.56%	-74.49%
Free Cash Flow Firm Q/Q Growth	26.56%	-160.13%	14.75%	44.59%	-131.22%	-124.00%	3.04%	-24.79%	20.54%	78.37%	-69.37%
Invested Capital Q/Q Growth	-0.14%	2.55%	2.49%	-0.67%	3.79%	10.21%	2.14%	2.05%	0.74%	-0.04%	5.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.78%	69.23%	68.67%	69.17%	68.83%	67.84%	68.84%	67.65%	69.93%	69.59%	69.46%
EBITDA Margin	27.73%	23.70%	25.44%	19.61%	25.02%	23.54%	27.73%	27.76%	27.17%	21.95%	30.85%
Operating Margin	19.65%	15.68%	17.51%	12.62%	17.42%	14.80%	19.75%	16.18%	20.69%	15.61%	21.16%
EBIT Margin	19.14%	15.30%	17.56%	12.06%	17.75%	14.80%	19.02%	20.39%	20.24%	14.95%	24.06%
Profit (Net Income) Margin	14.29%	13.53%	12.79%	7.82%	11.12%	12.34%	14.41%	15.71%	14.91%	12.68%	25.74%
Tax Burden Percent	82.62%	99.80%	81.09%	76.67%	69.96%	96.24%	83.48%	84.48%	80.40%	95.71%	115.23%
Interest Burden Percent	90.37%	88.60%	89.81%	84.51%	89.56%	86.67%	90.76%	91.18%	91.61%	88.61%	92.81%
Effective Tax Rate	17.21%	0.20%	18.91%	23.33%	29.90%	3.93%	16.52%	15.52%	19.49%	4.43%	-15.15%
Return on Invested Capital (ROIC)	8.45%	8.35%	7.59%	5.32%	6.89%	7.92%	9.41%	8.16%	10.19%	9.04%	14.62%
ROIC Less NNEP Spread (ROIC-NNEP)	7.59%	7.38%	6.94%	4.38%	6.32%	7.00%	8.39%	9.26%	9.24%	7.84%	15.33%
Return on Net Nonoperating Assets (RNNOA)	3.34%	3.23%	3.03%	1.82%	2.58%	3.13%	3.72%	4.01%	3.88%	3.34%	6.36%
Return on Equity (ROE)	11.79%	11.59%	10.62%	7.15%	9.46%	11.05%	13.13%	12.17%	14.06%	12.38%	20.98%
Cash Return on Invested Capital (CROIC)	0.85%	-1.15%	0.43%	3.42%	-0.80%	-8.20%	-7.30%	-9.09%	-5.26%	4.47%	2.79%
Operating Return on Assets (OROA)	7.98%	6.45%	7.42%	5.20%	7.83%	6.65%	8.69%	9.59%	9.70%	7.22%	11.74%
Return on Assets (ROA)	5.96%	5.70%	5.41%	3.37%	4.91%	5.55%	6.59%	7.39%	7.14%	6.13%	12.56%
Return on Common Equity (ROCE)	11.71%	11.51%	10.48%	7.06%	9.35%	10.92%	12.98%	12.03%	13.91%	12.25%	20.78%
Return on Equity Simple (ROE_SIMPLE)	6.50%	0.00%	8.89%	8.95%	8.63%	0.00%	9.12%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	574	583	547	399	514	648	769	692	844	788	1,268
NOPAT Margin	16.27%	15.65%	14.19%	9.68%	12.21%	14.21%	16.49%	13.67%	16.66%	14.92%	24.37%
Net Nonoperating Expense Percent (NNEP)	0.86%	0.97%	0.65%	0.94%	0.56%	0.92%	1.03%	-1.10%	0.95%	1.20%	-0.71%
Return On Investment Capital (ROIC_SIMPLE)	-	2.04%	-	-	-	1.98%	2.28%	2.02%	2.40%	2.20%	3.41%
Cost of Revenue to Revenue	31.22%	30.77%	31.35%	30.83%	31.17%	32.14%	31.16%	32.35%	30.07%	30.43%	30.56%
SG&A Expenses to Revenue	35.21%	37.02%	35.37%	35.10%	37.11%	35.34%	34.25%	33.91%	34.37%	34.68%	34.23%
R&D to Revenue	10.09%	9.72%	9.49%	9.30%	9.67%	10.06%	9.50%	10.39%	10.15%	10.77%	9.92%
Operating Expenses to Revenue	49.14%	53.53%	51.17%	56.55%	51.41%	53.05%	49.07%	51.47%	49.24%	54.00%	48.30%
Earnings before Interest and Taxes (EBIT)	675	570	677	497	747	675	887	1,032	1,025	790	1,252
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	978	883	981	808	1,053	1,074	1,293	1,405	1,376	1,160	1,605
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.09	4.39	0.00	5.56	5.96	6.05	6.70	7.09	6.18	5.83	3.60
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	202.90	0.00	0.00	0.00	0.00	0.00	0.00	347.44
Price to Revenue (P/Rev)	5.62	5.95	0.00	7.43	7.76	7.86	8.48	8.59	7.48	7.04	4.52
Price to Earnings (P/E)	64.86	53.94	0.00	61.94	68.87	71.04	73.27	63.44	51.83	48.78	26.12
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	1.54%	1.85%	0.00%	1.61%	1.45%	1.41%	1.36%	1.58%	1.93%	2.05%	3.83%
Enterprise Value to Invested Capital (EV/IC)	3.16	3.36	0.00	4.28	4.50	4.40	4.83	5.05	4.57	4.45	2.88
Enterprise Value to Revenue (EV/Rev)	6.22	6.54	0.00	7.95	8.30	8.49	9.10	9.20	8.02	7.53	4.99
Enterprise Value to EBITDA (EV/EBITDA)	25.73	26.99	0.00	33.18	35.45	36.25	37.39	36.74	31.09	28.86	18.56
Enterprise Value to EBIT (EV/EBIT)	39.95	41.41	0.00	50.07	53.01	54.63	56.05	54.06	44.82	40.46	25.11
Enterprise Value to NOPAT (EV/NOPAT)	60.46	49.58	0.00	57.56	64.73	67.54	68.62	64.93	52.63	48.94	28.54
Enterprise Value to Operating Cash Flow (EV/OCF)	36.34	37.23	0.00	46.02	44.97	41.40	41.89	39.72	33.55	33.32	23.71
Enterprise Value to Free Cash Flow (EV/FCFF)	381.43	0.00	0.00	127.75	0.00	0.00	0.00	0.00	0.00	101.88	107.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.47	0.47	0.53	0.51	0.52	0.49	0.50	0.51	0.49	0.47	0.42
Long-Term Debt to Equity	0.44	0.44	0.47	0.44	0.44	0.41	0.47	0.49	0.47	0.46	0.42
Financial Leverage	0.44	0.44	0.44	0.42	0.41	0.45	0.44	0.43	0.42	0.43	0.42
Leverage Ratio	1.79	1.82	1.82	1.81	1.80	1.79	1.80	1.82	1.81	1.79	1.74
Compound Leverage Factor	1.62	1.61	1.63	1.53	1.61	1.56	1.64	1.66	1.66	1.58	1.62
Debt to Total Capital	31.75%	31.79%	34.49%	33.90%	34.19%	32.81%	33.50%	33.84%	32.93%	31.85%	29.70%
Short-Term Debt to Total Capital	1.83%	1.85%	3.52%	5.07%	5.19%	5.43%	2.30%	1.40%	1.37%	0.83%	0.11%
Long-Term Debt to Total Capital	29.92%	29.94%	30.97%	28.84%	29.00%	27.38%	31.20%	32.44%	31.56%	31.02%	29.59%
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	0.87%	0.87%	0.79%	0.76%	0.78%	0.71%	0.69%	0.69%	0.67%	0.67%	0.65%
Common Equity to Total Capital	67.38%	67.34%	64.72%	65.34%	65.04%	66.48%	65.80%	65.47%	66.41%	67.48%	69.65%
Debt to EBITDA	2.68	2.64	2.92	2.90	2.92	2.74	2.65	2.50	2.32	2.18	1.99
Net Debt to EBITDA	2.39	2.39	2.28	2.10	2.25	2.63	2.48	2.39	2.07	1.81	1.73
Long-Term Debt to EBITDA	2.52	2.48	2.62	2.46	2.48	2.29	2.47	2.40	2.23	2.13	1.98
Debt to NOPAT	6.29	4.84	5.22	5.02	5.34	5.10	4.86	4.42	3.93	3.70	3.06
Net Debt to NOPAT	5.62	4.38	4.08	3.64	4.11	4.91	4.55	4.22	3.50	3.07	2.66
Long-Term Debt to NOPAT	5.93	4.56	4.69	4.27	4.53	4.26	4.53	4.24	3.77	3.61	3.05
Altman Z-Score	3.66	3.80	0.00	4.74	4.97	5.13	5.74	5.77	5.32	5.21	3.95
Noncontrolling Interest Sharing Ratio	0.66%	0.67%	1.31%	1.27%	1.23%	1.16%	1.12%	1.09%	1.08%	1.02%	0.98%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.42	1.32	1.67	1.61	1.48	1.08	1.45	1.37	1.51	1.62	1.90
Quick Ratio	0.67	0.63	0.94	0.95	0.85	0.46	0.68	0.65	0.77	0.90	0.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-616	-1,603	-1,367	-757	-1,751	-3,923	-3,803	-4,746	-3,771	-816	-1,381
Operating Cash Flow to CapEx	369.31%	358.43%	92.13%	524.52%	559.78%	529.45%	289.30%	819.11%	741.99%	388.60%	196.61%
Free Cash Flow to Firm to Interest Expense	-9.34	-25.05	-19.81	-9.84	-22.17	-49.03	-46.38	-52.73	-43.35	-9.06	-15.35
Operating Cash Flow to Interest Expense	10.58	14.95	2.38	10.56	12.68	18.20	6.60	14.29	15.44	15.16	3.87
Operating Cash Flow Less CapEx to Interest Expense	7.71	10.78	-0.20	8.55	10.42	14.76	4.32	12.54	13.36	11.26	1.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.42	0.42	0.42	0.43	0.44	0.45	0.46	0.47	0.48	0.48	0.49
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	2.01	2.00	1.96	1.95	1.91	1.99	2.03	2.15	2.14	2.16	2.13
Fixed Asset Turnover	5.61	5.37	5.47	5.55	5.58	5.44	5.59	5.77	5.64	5.48	5.53
Accounts Payable Turnover	4.86	4.82	5.05	5.24	5.38	5.53	5.72	6.28	6.37	5.91	5.93
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)	181.72	182.75	186.42	187.60	190.63	183.78	180.08	170.09	170.34	168.77	171.76
Days Payable Outstanding (DPO)	75.08	75.77	72.33	69.70	67.87	66.03	63.86	58.10	57.31	61.72	61.57
Cash Conversion Cycle (CCC)	106.64	106.98	114.09	117.90	122.76	117.76	116.21	111.99	113.03	107.05	110.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	27,075	27,766	28,458	28,268	29,340	32,337	33,030	33,706	33,955	33,941	35,679
Invested Capital Turnover	0.52	0.53	0.53	0.55	0.56	0.56	0.57	0.60	0.61	0.61	0.60
Increase / (Decrease) in Invested Capital	1,190	2,186	1,914	1,156	2,265	4,571	4,572	5,438	4,615	1,604	2,649
Enterprise Value (EV)	85,501	93,176	0.00	121,115	132,037	142,207	159,693	170,195	155,224	151,061	102,930
Market Capitalization	77,311	84,691	0.00	113,219	123,406	131,642	148,876	158,907	144,663	141,351	93,114
Book Value per Share	$12.90	$13.16	$13.57	$13.86	$14.06	$14.77	$15.05	$15.15	$15.79	$16.35	$17.43
Tangible Book Value per Share	($0.39)	($0.76)	($0.19)	$0.38	($0.05)	($1.36)	($1.15)	($1.97)	($1.34)	($0.72)	$0.18
Total Capital	28,028	28,632	30,787	31,180	31,841	32,749	33,755	34,240	35,230	35,908	37,133
Total Debt	8,899	9,102	10,619	10,571	10,885	10,746	11,309	11,587	11,600	11,436	11,029
Total Long-Term Debt	8,386	8,571	9,534	8,991	9,233	8,968	10,532	11,107	11,117	11,137	10,988
Net Debt	7,947	8,237	8,290	7,658	8,383	10,332	10,584	11,053	10,325	9,471	9,576
Capital Expenditures (CapEx)	189	267	178	155	179	275	187	157	181	351	177
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,486	1,247	2,025	2,082	2,001	1,885	2,329	1,877	1,915	1,689	2,701
Debt-free Net Working Capital (DFNWC)	2,438	2,112	4,354	4,995	4,503	2,299	3,054	2,411	3,190	3,654	4,154
Net Working Capital (NWC)	1,925	1,581	3,269	3,415	2,851	521	2,277	1,931	2,707	3,355	4,113
Net Nonoperating Expense (NNE)	70	79	54	77	46	85	97	-103	89	118	-71
Net Nonoperating Obligations (NNO)	7,946	8,236	8,290	7,659	8,384	10,334	10,584	11,053	10,325	9,469	9,575
Total Depreciation and Amortization (D&A)	303	313	304	311	306	399	406	373	351	370	353
Debt-free, Cash-free Net Working Capital to Revenue	10.80%	8.76%	13.77%	13.67%	12.58%	11.26%	13.27%	10.15%	9.90%	8.41%	13.10%
Debt-free Net Working Capital to Revenue	17.72%	14.83%	29.61%	32.80%	28.30%	13.73%	17.40%	13.04%	16.48%	18.20%	20.15%
Net Working Capital to Revenue	13.99%	11.10%	22.23%	22.43%	17.92%	3.11%	12.97%	10.44%	13.99%	16.71%	19.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.34	$0.35	$0.34	$0.22	$0.32	$0.38	$0.46	$0.54	$0.51	$0.45	$0.90
Adjusted Weighted Average Basic Shares Outstanding	1.46B	1.45B	1.47B	1.47B	1.47B	1.47B	1.48B	1.48B	1.48B	1.48B	1.48B
Adjusted Diluted Earnings per Share	$0.34	$0.34	$0.33	$0.22	$0.32	$0.38	$0.45	$0.53	$0.51	$0.45	$0.90
Adjusted Weighted Average Diluted Shares Outstanding	1.48B	1.46B	1.48B	1.48B	1.49B	1.49B	1.49B	1.49B	1.50B	1.49B	1.50B
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	1.46B	1.47B	1.47B	1.47B	1.47B	1.48B	1.48B	1.48B	1.48B	1.48B	1.49B
Normalized Net Operating Profit after Tax (NOPAT)	505	616	564	613	503	651	781	797	846	996	752
Normalized NOPAT Margin	14.32%	16.53%	14.61%	14.87%	11.96%	14.28%	16.76%	15.74%	16.71%	18.84%	14.45%
Pre Tax Income Margin	17.30%	13.56%	15.77%	10.19%	15.89%	12.82%	17.26%	18.59%	18.54%	13.25%	22.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.23	8.91	9.81	6.45	9.46	8.44	10.82	11.47	11.78	8.78	13.91
NOPAT to Interest Expense	8.69	9.11	7.93	5.18	6.50	8.11	9.38	7.69	9.70	8.76	14.09
EBIT Less CapEx to Interest Expense	7.36	4.73	7.23	4.44	7.19	5.00	8.54	9.72	9.70	4.88	11.94
NOPAT Less CapEx to Interest Expense	5.83	4.94	5.35	3.16	4.24	4.67	7.10	5.94	7.62	4.86	12.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	3.34%	1.76%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	3.34%	1.76%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on Boston Scientific (BSX) using quarterly statements from the last four years. The focus is on trends in revenue, margins, cash flow, and leverage to help retail investors gauge the stock’s recent trajectory.

Revenue growth: Q4 2025 operating revenue was $5.285B, up from $4.562B in Q4 2024 (about +16%), signaling stronger top-line demand.
Gross margin expansion: Q4 2025 gross margin approached 69.6% (gross profit of $3.678B on $5.285B revenue), up from roughly 63% in Q4 2024, indicating improved profitability per dollar of revenue.
Operating income improvement: Q4 2025 total operating income was $825M, up from $675M in Q4 2024, reflecting better operating leverage.
Operating efficiency: SG&A as a percentage of revenue modestly declined (about 34.7% in Q4 2025 vs ~35.3% in Q4 2024), signaling better cost discipline alongside rising sales.
Net income to common shareholders remained roughly flat year over year (about $672M in Q4 2025 vs $674M in Q4 2024), with basic/diluted EPS affected by share count.
R&D spending remains a meaningful, stable portion of revenue (569M in Q4 2025; roughly 11% of revenue), supporting ongoing product development and pipeline potential.
Modest equity financing activity: issuance of common equity around $20M in Q4 2025 to supplement liquidity, a routine funding action for liquidity management.
Cash-flow volatility: quarterly cash flow showed swings—net change in cash ranged from a positive $776M (Q3 2025) to a negative $220M (Q2 2025), though net cash from operating activities remained positive in most periods.
Diluted earnings per share (EPS) declined to $0.45 in Q4 2025 from higher prior-year levels, reflecting share count effects and mix; this can pressure per-share metrics even if dollar profits are stable.
Balance-sheet leverage: Long-term debt around $11.1B and total liabilities near $19B through mid-2025 point to a meaningful debt load, which can influence risk and cost of capital considerations.
Cash-flow dynamics: investing and financing activities remained non-trivial, contributing to irregular quarterly cash position and signaling ongoing capital deployment and financing activity.

Notes: All figures are in USD and reflect quarterly statements. The analysis highlights four-year trends in revenue growth, margin expansion, cash flow generation, and leverage to help investors assess the company’s operating performance and capital structure over time.

05/05/26 02:45 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Boston Scientific's Financials

When does Boston Scientific's fiscal year end?

According to the most recent income statement we have on file, Boston Scientific's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

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 $2.89 billion in 2025, falling from -$239 million in 2015. The previous period was $1.85 billion in 2024. View Boston Scientific's forecast to see where analysts expect Boston Scientific to go next.

What is Boston Scientific's operating income?

Boston Scientific's total operating income in 2025 was $3.61 billion, based on the following breakdown:

Total Gross Profit: $13.85 billion
Total Operating Expenses: $10.24 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 $7.48 billion in 2015 to $20.07 billion in 2025, a change of 168.5%.

How much debt does Boston Scientific have?

Boston Scientific's total liabilities were at $19.20 billion at the end of 2025, a 10.4% increase from 2024, and a 62.5% increase since 2015.

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 $1.97 billion in 2025, and is currently $1.97 billion as of their latest financial filing in 2025.

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 4.70 in 2015 to 16.35 in 2025, a change of 247.9%.

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Financial statements for NYSE:BSX last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Boston Scientific (BSX) Financials

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Boston Scientific (BSX) Financials

Annual Income Statements for Boston Scientific

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Quarterly Metrics And Ratios for Boston Scientific

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Key Financial Trends

Frequently Asked Questions About Boston Scientific's Financials

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