BOSTON SCIENTIFIC CORP BSX
Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. Our mission is to transform lives through innovative medical solutions that improve the health of patients around the world. As a medical technology leader for more than 45 years, we have advanced the practice of less-invasive medicine by helping physicians and other medical professionals diagnose and treat a wide range of diseases and medical conditions and improve patients' quality of life by providing alternatives to surgery and other medical procedures that are typically traumatic to the body. We advance science for life by providing a broad range of high-performance solutions to address unmet patient needs and reduce the cost of health care. When used in this report, the terms "we," "us," "our" and "the Company" mean Boston Scientific Corporation and its divisions and subsidiaries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.07B | $16.75B | $14.24B | $12.68B | $11.89B | $9.91B | $10.73B | $9.82B | $9.05B | $8.39B |
| Cost of revenue | $6.22B | $5.26B | $4.34B | $3.96B | $3.71B | $3.46B | $3.12B | $2.81B | $2.59B | $2.42B |
| Gross profit | $13.85B | $11.49B | $9.90B | $8.73B | $8.18B | $6.45B | $7.62B | $7.01B | $6.46B | $5.96B |
| SG&A | $6.89B | $5.98B | $5.19B | $4.52B | $4.36B | $3.79B | $3.94B | $3.57B | $3.29B | $3.10B |
| Total operating expenses | $10.24B | $8.89B | $7.55B | $7.08B | $6.98B | $6.53B | $6.10B | $5.50B | $5.17B | $5.51B |
| Operating income | $3.61B | $2.60B | $2.34B | $1.65B | $1.20B | -$80.0M | $1.52B | $1.51B | $1.28B | $447.0M |
| Interest expense | $349.0M | $305.0M | $265.0M | $470.0M | $341.0M | $361.0M | $473.0M | $241.0M | $229.0M | $233.0M |
| Pre-tax income | $3.38B | $2.28B | $1.99B | $1.14B | $1.08B | -$79.0M | $687.0M | $1.42B | $933.0M | $177.0M |
| Income tax | $493.0M | $436.0M | $393.0M | $443.0M | $36.0M | $2.0M | $4.01B | $249.0M | $828.0M | $170.0M |
| Net income | $2.89B | $1.85B | $1.59B | $698.0M | $1.04B | -$82.0M | $4.70B | $1.67B | $104.0M | $347.0M |
| EPS, basic | 1.96 | 1.26 | 1.08 | 0.45 | 0.69 | -0.08 | 3.38 | 1.21 | 0.08 | 0.26 |
| EPS, diluted | 1.94 | 1.25 | 1.07 | 0.45 | 0.69 | -0.08 | 3.33 | 1.19 | 0.08 | 0.25 |
| Shares, diluted (wtd. avg.) | $1.49B | $1.49B | $1.46B | $1.44B | $1.43B | $1.42B | $1.41B | $1.40B | $1.39B | $1.38B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.97B | $414.0M | $865.0M | $1.13B | $2.17B | $2.00B | $607.0M | $829.0M | $1.02B | $487.0M |
| Inventory | $2.94B | $2.81B | $2.48B | $1.87B | $1.61B | $1.35B | $1.58B | $1.17B | $1.08B | $955.0M |
| Total current assets | $8.79B | $6.92B | $6.51B | $5.76B | $6.32B | $6.69B | $4.70B | $4.00B | $3.82B | $3.24B |
| Property, plant and equipment | $4.04B | $3.29B | $2.86B | $2.45B | $2.25B | $2.08B | $2.08B | $1.78B | $1.70B | $1.63B |
| Goodwill | $18.28B | $17.09B | $14.39B | $12.92B | $11.99B | $9.95B | $10.18B | $7.91B | $7.00B | $6.68B |
| Other intangibles | $7.02B | $6.68B | $6.00B | $5.90B | $6.12B | $5.92B | $7.89B | $6.37B | $5.84B | $5.88B |
| Total assets | $43.67B | $39.40B | $35.14B | $32.47B | $32.23B | $30.78B | $30.57B | $21.00B | $19.04B | $18.10B |
| Accounts payable | $1.14B | $960.0M | $942.0M | $862.0M | $794.0M | $513.0M | $542.0M | $349.0M | $530.0M | $447.0M |
| Short-term debt | $299.0M | $1.78B | $531.0M | $20.0M | $261.0M | $13.0M | $1.42B | $2.25B | $1.80B | $64.0M |
| Total current liabilities | $5.44B | $6.40B | $4.93B | $3.80B | $4.27B | $3.68B | $4.87B | $5.26B | $5.65B | $3.59B |
| Long-term debt | — | — | — | — | — | — | — | — | $3.81B | $5.42B |
| Retained earnings | $5.57B | $2.67B | $819.0M | -$750.0M | -$1.39B | -$2.38B | -$2.25B | -$6.95B | -$8.39B | -$8.58B |
| Total equity | $24.23B | $21.77B | $19.53B | $17.57B | $16.62B | $15.33B | $13.88B | $8.73B | $7.01B | $6.73B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.53B | $3.44B | $2.50B | $1.53B | $1.87B | $1.51B | $1.84B | $310.0M | $1.43B | $1.18B |
| Depreciation and amortisation | $1.37B | $1.27B | $1.20B | $1.14B | $1.09B | $1.12B | $1.01B | $894.0M | $844.0M | $815.0M |
| Stock-based compensation | $299.0M | $266.0M | $233.0M | $220.0M | $194.0M | $170.0M | $157.0M | $140.0M | $127.0M | $116.0M |
| Capital expenditure | $876.0M | $790.0M | $711.0M | $588.0M | $554.0M | $376.0M | $461.0M | $316.0M | $319.0M | $376.0M |
| Investing cash flow | -$2.64B | -$5.69B | -$2.57B | -$2.01B | -$1.60B | -$411.0M | -$5.04B | -$1.92B | -$1.01B | -$887.0M |
| Financing cash flow | -$395.0M | $1.81B | $5.0M | -$548.0M | -$95.0M | $293.0M | $2.97B | $1.43B | $110.0M | -$206.0M |
| Dividends paid | — | $0 | $28.0M | $55.0M | $55.0M | $28.0M | $0 | $0 | — | — |
| Buybacks | — | — | — | $0 | $0 | $535.0M | $0 | $0 | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000885725-26-000010.
Others in SIC 3841
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SYK | STRYKER CORP | $116.27B | 36.1x | 11.2% |
| MMM | 3M CO | $86.93B | 28.1x | 1.5% |
| BDX | BECTON DICKINSON & CO | $50.32B | 31.7x | 8.2% |
| DXCM | DEXCOM INC | $33.17B | 42.1x | 15.6% |
| RMD | RESMED INC | $32.94B | 21.9x | 9.9% |
| MDLN | Medline Inc. | $31.35B | — | 11.5% |
| WST | WEST PHARMACEUTICAL SERVICES INC | $23.93B | 50.1x | 6.3% |
| SOLV | Solventum Corp | $15.61B | 10.3x | 0.9% |