greeksoup/ stock research
Stock research / United States / BSX · Surgical & Medical Instruments & Apparatus · NYSE

Boston Scientific Corp. (BSX)

Boston Scientific develops, manufactures and markets medical devices used across interventional medical specialties. Its portfolio helps physicians diagnose and treat cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions, and the company describes its work over more than 45 years as advancing less-invasive medicine by providing alternatives to surgery. It markets to hospitals, clinics, outpatient facilities and medical offices in 127 countries, with dedicated sales forces per business and a network of distributors and dealers where a direct presence is not economical. At the end of 2025 it had approximately 59,000 employees, approximately 60 percent of them outside the United States. There are two reportable segments, MedSurg and Cardiovascular; in the fourth quarter of 2025 the legacy Cardiology and Peripheral Interventions businesses were combined into a single Cardiovascular business, without changing the segments.

Boston Scientific Corp.

Boston Scientific develops, manufactures and markets medical devices used across interventional medical specialties. Its portfolio helps physicians diagnose and treat cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions, and the company describes its work over more than 45 years as advancing less-invasive medicine by providing alternatives to surgery. It markets to hospitals, clinics, outpatient facilities and medical offices in 127 countries, with dedicated sales forces per business and a network of distributors and dealers where a direct presence is not economical. At the end of 2025 it had approximately 59,000 employees, approximately 60 percent of them outside the United States. There are two reportable segments, MedSurg and Cardiovascular; in the fourth quarter of 2025 the legacy Cardiology and Peripheral Interventions businesses were combined into a single Cardiovascular business, without changing the segments.

MedSurg

Endoscopy makes minimally invasive devices for gastrointestinal and pancreaticobiliary conditions and for weight loss in obesity: hemostatic clips to stop bleeding during a procedure, stent systems for biliary obstruction and for endoscopic drainage of pancreatic pseudocysts, single-use scopes for the pancreaticobiliary system and for endoscopic retrograde cholangiopancreatography, endoluminal surgery products including an endoscopic suturing system and an intragastric balloon, and infection prevention products.

Urology treats kidney stones, benign prostatic hyperplasia, prostate cancer, erectile dysfunction, male incontinence, overactive bladder and pelvic floor disorders. The range covers stone management products including ureteral stents, catheters, baskets, guidewires, sheaths and balloons, single-use digital flexible ureteroscopes, laser systems for urology procedures and for benign prostatic hyperplasia, prosthetic urology products including a penile implant and an artificial urinary sphincter, a hydrogel system that reduces side effects of prostate radiotherapy, and the Axonics sacral neuromodulation system.

Neuromodulation treats neurological movement disorders and chronic pain, with the WaveWriter Alpha spinal cord stimulator, the Intracept intraosseous nerve ablation system, which the filing describes as the only system cleared by the Food and Drug Administration to treat vertebrogenic pain, a radiofrequency ablation generator and consumables, and the Vercise Genus deep brain stimulation system for Parkinson's disease, tremor and dystonia.

Cardiovascular

Interventional Cardiology and Vascular Therapies treats complex coronary, peripheral and venous disease. The filing describes intravascular imaging and multi-modality guidance systems, vessel preparation and plaque modification for heavily calcified lesions through rotational atherectomy and cutting balloons, coronary drug-eluting stents and drug-coated balloons, peripheral vascular stents and balloons, thrombectomy and ultrasound-assisted thrombolysis systems to remove or dissolve clots in deep veins and pulmonary arteries, and an injectable foam for varicose veins.

Cardiac Rhythm Management makes implantable devices that monitor the heart and deliver electricity to correct abnormalities: implantable cardioverter defibrillators, resynchronisation therapy defibrillators and pacemakers, a subcutaneous defibrillator that treats patients at risk of sudden cardiac arrest without touching the heart, remote patient management and cardiac monitoring systems, and an insertable cardiac monitor for detecting arrhythmias.

The WATCHMAN left atrial appendage closure devices close the left atrial appendage in patients with non-valvular atrial fibrillation who are at risk of ischemic stroke. Electrophysiology diagnoses and treats rate and rhythm disorders, with the FARAPULSE pulsed field ablation system, a three-dimensional cardiac mapping and navigation system, access solutions and steerable sheaths for reaching the left side of the heart, and cryoablation and radiofrequency ablation systems. The company reports rapid conversion from older treatment methods to pulsed field ablation since FARAPULSE launched in 2024, and says it is now the predominant component of the electrophysiology business and its revenue. Interventional Oncology and Embolization treats cancer, with radioactive glass microsphere therapy and hepatic arterial infusion systems for liver and bile duct cancers, cryoablation for kidney, bone and lung cancers, and embolization devices.

What it has bought, and what it has agreed to buy

During the second quarter of 2025 the company acquired the remaining shares of Bolt Medical, which develops a laser-based intravascular lithotripsy platform for coronary and peripheral artery disease, and of SoniVie, which developed an investigational intravascular ultrasound system designed to denervate nerves around blood vessels to treat hypertensive disorders. On 15 January 2026 it announced an agreement to acquire all of Penumbra, a listed medical technology company focused on thrombectomy products for removing clots in peripheral vascular procedures. The price is $374 per share, or approximately $14.500 billion, expected to close during 2026 subject to customary conditions, funded through cash on hand and newly issued borrowing of approximately $11.000 billion with the remainder in Boston Scientific shares.

From Boston Scientific's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Boston Scientific became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 2 November 2026
Revenue
$5.1 billion
+1.4% on the year · -5.6% on the quarter
Q4 FY2024Q3 FY2026
Net income
$582 million
-22.9% on the year · -35.8% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.40
-21.6% on the year · -34.4% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 17 February 2026
Revenue
$20.1 billion
+19.9% on the year
FY2018FY2025
Net income
$2.9 billion
+56.4% on the year
FY2018FY2025
Diluted EPS
$1.94
+55.2% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsBoston Scientific (BSX) reported revenue of $20.1 billion for fiscal 2025, the year ended 31 December 2025, up 19.9% on the year before. Net income was $2.9 billion and diluted earnings per share $1.94. Revenue was $16.7 billion in fiscal 2024, $14.2 billion in fiscal 2023, $12.7 billion in fiscal 2022 and $11.9 billion in fiscal 2021. Net income in the same years was $1.9 billion, $1.6 billion, $642 million and $985 million. Over the twelve months to 30 September 2026, Boston Scientific reported revenue of $21.1 billion and net income of $3.5 billion. Revenue grew 15.2% a year, compounded, over the five years to fiscal 2025. Boston Scientific had 1.45 billion shares outstanding at the latest filed count. At 30 September 2026 it carried $12.0 billion of debt and $609 million of cash. At the close of 6 November 2026 the market cap of Boston Scientific was $62.0 billion, 18.1 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE13.7%
ROCE10.5%
Operating margin18.7%
Net margin16.6%
FCF margin15.8%
Interest cover10.5x
Debt to equity0.47x
Cash conversion1.21x
Share count, last 12 months-2.2%
Sales CAGR, 3 years16.5%
Profit CAGR, 3 years65.3%
EPS, TTM$2.36

At the close of 6 November 2026

Price$42.75
Market cap$62.0 billion
Stock P/E18.1x
Price to book2.4x
EV / EBITDA13.7x
Dividend yieldn/a
Market cap / sales2.9x
52-week high$104.98
52-week low$41.58
Price, 1 year-56.8%
Price CAGR, 3 years-6.4%
Price CAGR, 5 years-0.2%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Boston Scientific Corp.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
BSXgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue3,1273,0263,2443,1703,2423,3893,5993,5273,7253,8564,1204,2094,5624,6635,0615,0655,2855,2035,4425,138
Cost of revenue9729551,0119791,0111,0401,0581,1011,1461,2091,2701,3121,4661,4531,6371,5231,6081,5901,5941,710
Gross profit2,1552,0712,2332,1912,2322,3492,5422,4262,5792,6482,8502,8973,0953,2103,4243,5423,6783,6143,8483,428
Gross margin69%68%69%69%69%69%71%69%69%69%69%69%68%69%68%70%70%69%71%67%
R&D320319335339330337359356362366383407459443526514569516554520
SG&A1,1531,0601,1651,1321,1631,2151,3541,2421,3791,3641,4461,5621,6121,5971,7161,7411,8331,7811,8031,683
Operating income1804664233584025525146935846755207336759218191,0488251,1011,178828
Operating margin6%15%13%11%12%16%14%20%16%18%13%17%15%20%16%21%16%21%22%16%
Interest expense87.027964.063.064.065.070.066.064.069.077.079.080.082.090.087.090.090.096.0100
Pre-tax income1191563452453954444266105056084206695858059419397001,1621,060733
Tax rate21%29%25%23%65%30%37%17%0%19%23%30%4%17%16%19%4%-15%15%21%
Net income81.097.02461741253002615055044953244695656747977556721,341907582
Net margin3%3%8%5%4%9%7%14%14%13%8%11%12%14%16%15%13%26%17%11%
Diluted EPS$0.06$0.07$0.17$0.12$0.09$0.21$0.18$0.34$0.34$0.33$0.22$0.32$0.38$0.45$0.53$0.51$0.45$0.90$0.61$0.40
Operating cash flow478-58.03074708071906586989571648131,0021,4565411,2861,3431,3643481,4741,048
Capital expenditure266121105150212111143190267179155179277187157181351177195180
Free cash flow212-17920232059579.0515508690-15.06588231,1793541,1291,1621,0131711,279868
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.0n/an/an/a0.0
Dividends paid13.014.014.014.013.014.014.00.00.00.00.00.00.0n/an/an/an/an/an/an/a
Shares outstanding1,427m1,430m1,432m1,432m1,435m1,438m1,464m1,465m1,467m1,470m1,473m1,474m1,476m1,479m1,482m1,482m1,484m1,486m1,449m1,449m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue8,3578,0508,1887,8067,6227,2497,0727,4627,4778,3869,0489,82310,7359,91311,88812,68214,24016,74720,07421,068
Cost of revenue2,3422,4692,5762,5992,6592,3492,1742,2102,1732,4242,5932,8133,1163,4653,7113,9564,3455,2576,2216,502
Gross profit6,0155,5815,6125,2074,9634,9004,9695,1705,3045,9626,4557,0117,6206,4488,1778,7279,89611,49013,85414,568
Gross margin72.0%69.3%68.5%66.7%65.1%67.6%70.3%69.3%70.9%71.1%71.3%71.4%71.0%65.0%68.8%68.8%69.5%68.6%69.0%69.1%
Research and development1,0911,0061,0359398958868618178769209971,1131,1741,1431,2041,3231,4141,6152,0522,159
Selling, general and administrative2,9092,5892,6352,5802,4872,5352,6742,9022,8733,0993,2943,5693,9413,7874,3594,5205,1905,9846,8877,100
Operating income-14.0-1,505-894-656904-3,868120-301-2834471,2851,5061,518-80.01,1991,6492,3432,6033,6133,932
Operating margin-0.2%-18.7%-10.9%-8.4%11.9%-53.4%1.7%-4.0%-3.8%5.3%14.2%15.3%14.1%-0.8%10.1%13.0%16.5%15.5%18.0%18.7%
Interest expense570468407393281261324216284233229241473361341470265305349376
Pre-tax income-569-2,031-1,308-1,063642-4,107-223-509-6501779331,422687-79.01,0761,1411,9852,2823,3853,655
Income tax-74.05.0-2832.0201-39.0-102-390-411-170828-249-4,0132.036.0443393436493163
Effective tax raten/an/an/an/a31.3%n/an/an/an/a-96.0%88.7%-17.5%-584.1%n/a3.3%38.8%19.8%19.1%14.6%4.5%
Net income-495-2,036-1,025-1,065441-4,068-121-119-2393471041,6714,700-1159856421,5701,8532,8983,502
Net margin-5.9%-25.3%-12.5%-13.6%5.8%-56.1%-1.7%-1.6%-3.2%4.1%1.1%17.0%43.8%-1.2%8.3%5.1%11.0%11.1%14.4%16.6%
Diluted EPS-$0.33-$1.36-$0.68-$0.70$0.29-$2.89-$0.09-$0.09-$0.18$0.25$0.08$1.19$3.33-$0.08$0.69$0.45$1.07$1.25$1.94$2.36
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2012 to FY2025

FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Cardiovascular2,8802,8002,9532,9373,2923,5003,7774,2085,8667,2427,8318,81910,75513,25066.0%
MedSurgn/a2,2362,3592,5002,4452,7423,0073,3073,8274,6334,9115,4225,9936,82434.0%
Global CRM Reporting Unit1,887n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Global Interventional Cardiology (IC) Reporting Unit2,116n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Global Neuromodulation (NM) Reporting Unit367n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Rhythm Managementn/a2,0362,1502,040n/an/an/an/an/an/an/an/an/an/an/a
Rhythm and Neuron/an/an/an/a2,6492,8083,0413,140n/an/an/an/an/an/an/a
Not assigned to a part in the filingn/an/an/an/an/an/an/an/a220n/an/an/an/an/an/a
CardiovascularMedSurg FY2013 to FY2025Rhythm and Neuro FY2016 to FY2019Rhythm Management FY2013 to FY2015Global Interventional Cardiology (IC) Reporting Unit FY2012Global CRM Reporting Unit FY2012Global Neuromodulation (NM) Reporting Unit FY2012
7.1FY20137.5FY20159.1FY201710.7FY201911.9FY202114.2FY202320.1FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Not assigned to a part in the filing is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2022 to FY2025

The adjusted operating income each segment reports. Costs Boston Scientific does not charge to a segment are left out, so the segments can add up to more than the company's own adjusted operating income.

FY2022FY2023FY2024FY2025Margin
FY2025
Cardiovascular1,7842,3553,2304,30332.5%
MedSurg1,4891,8722,0882,26833.2%
CardiovascularMedSurg
3,273FY20224,227FY20235,318FY20246,571FY2025

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Cardiovascular66%65%
MedSurg34%35%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an adjusted operating income figure. A margin is a segment's adjusted operating income over its own sales.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Interventional Cardiology & Vascular Therapiesn/an/an/an/an/an/an/a3,7914,1994,63923.1%
Electrophysiologyn/an/an/an/an/an/a5858001,9043,32516.6%
Endoscopy1,4401,6191,7621,8941,7802,1412,2212,4822,6872,91614.5%
Urology1,0051,1241,2451,4131,2861,5831,7731,9642,2002,70913.5%
Cardiac Rhythm Managementn/an/an/an/an/an/a2,1002,2182,2792,33211.6%
Watchmann/an/an/an/an/an/a1,0191,2741,5161,9589.8%
Neuromodulation5566357798737619099179761,1061,1996.0%
Interventional Oncology & Embolizationn/an/an/an/an/an/an/a7368569965.0%
Global CRM Reporting Unit1,8501,8951,9511,9391,7042,019n/an/an/an/an/a
Global Electrophysiology (EP) Reporting Unit243278311329287365n/an/an/an/an/a
Global Interventional Cardiology (IC) Reporting Unit2,2812,4192,5902,8162,2993,038n/an/an/an/an/a
Global Peripheral Interventions (PI) Reporting Unit1,0111,0811,1871,3921,5771,8201,899n/an/an/an/a
Interventional Cardiology Therapiesn/an/an/an/an/an/a2,228n/an/an/an/a
Othern/an/an/an/an/an/a-60n/an/an/an/a
Specialty Pharmaceuticalsn/an/an/a8121913n/an/an/an/an/a
Interventional Cardiology & Vascular Therapies FY2023 to FY2025Electrophysiology FY2022 to FY2025EndoscopyUrologyCardiac Rhythm Management FY2022 to FY2025Watchman FY2022 to FY2025NeuromodulationInterventional Oncology & Embolization FY2023 to FY2025Global Peripheral Interventions (PI) Reporting Unit FY2016 to FY2022Interventional Cardiology Therapies FY2022Global Interventional Cardiology (IC) Reporting Unit FY2016 to FY2021Global CRM Reporting Unit FY2016 to FY2021Global Electrophysiology (EP) Reporting Unit FY2016 to FY2021Specialty Pharmaceuticals FY2019 to FY2021
9.1FY201710.7FY201911.9FY202114.2FY202320.1FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Other is below zero in FY2022 as the 10-K filed it, so it has no share or block for that year.

Revenue by region FY2016 to FY2025, 1 year left out

FY2016FY2017FY2018FY2019FY2020FY2021FY2023FY2024FY2025Share
of the parts, latest year
United States4,7595,1625,5386,1675,7016,9118,42510,21012,86464.1%
Europe, Middle East and Africa1,8021,940n/an/an/an/a2,8563,2283,45117.2%
Asia-Pacific1,4921,587n/an/an/an/a2,4002,6863,08015.3%
Latin America and Canada333358n/an/an/an/a5606246783.4%
Non-USn/an/a4,2864,5694,2124,978n/an/an/an/a
United StatesEurope, Middle East and Africa FY2016 to FY2025Asia-Pacific FY2016 to FY2025Latin America and Canada FY2016 to FY2025Non-US FY2018 to FY2021
8.4FY20169.8FY20189.9FY202014.2FY202320.1FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

First forecast against the result

Boston Scientific's adjusted EPS landed at or above the top of the range in 11 and under it in 2 of the 13 years shown (FY2013 to FY2025).

+4.3%’13+5.0%’14+1.1%’15+3.7%’16at top’17+5.8%’18at top’19−46.4%’20+1.9%’21−4.5%’22+6.2%’23+10.6%’24+6.6%’25
  • At or above the top of the range
  • Inside the range
  • Under the range

Each bar is the year's result against the top of its first forecast range, in per cent of the top. Hover a bar for the figures.

Boston Scientific's sales growth landed at or above the top of the range in 7 and inside it in 1 of the 8 years shown (FY2017 to FY2025).

+0.8FY2017+1.2FY2018−1.2FY2019+0.9FY2021+0.7FY2022+4.3FY2023+7.4FY2024+3.8FY2025
  • At or above the top of the range
  • Inside the range
  • Under the range

Each bar is the year's result against the top of its first forecast range, in percentage points. Hover a bar for the figures.

Fiscal yearFirst forecast
adjusted EPS		ResultFirst forecast
sales growth		Result
FY2013$0.64 to $0.70$0.73n/an/a
FY2014$0.75 to $0.80$0.84n/an/a
FY2015$0.88 to $0.92$0.93n/an/a
FY2016$1.03 to $1.07$1.11n/an/a
FY2017$1.22 to $1.26$1.265% to 7% operational7.8%
FY2018$1.35 to $1.39$1.475% to 6% organic7.2%
FY2019$1.53 to $1.58$1.587% to 8.5% organic7.3%
FY2020$1.74 to $1.79$0.96n/an/a
FY2021$1.50 to $1.60$1.6312% to 18% organic18.9%
FY2022$1.73 to $1.79$1.716% to 8% organic8.7%
FY2023$1.86 to $1.93$2.056% to 8% organic12.3%
FY2024$2.23 to $2.27$2.518% to 9% organic16.4%
FY2025$2.80 to $2.87$3.0610% to 12% organic15.8%
FY2026 forecast
Adjusted EPS $3.43 to $3.49 and organic sales growth 10% to 11%, given 4 February 2026. Its result comes with the fourth-quarter results for FY2026.
First forecast
The full-year range the company gave with its fourth-quarter results for the year before, before any later change to it.
Result
The figure the company reported for that year with its next fourth-quarter results.
Adjusted EPS
The company's own measure, which leaves out items it names, so it differs from the EPS in the tables above.
Years left out
Where the forecast or the result could not be read with confidence. Each figure in the table links to the results release it comes from.

Cash flow

FY2007FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow9341,2168353251,0081,2801,1101,2696911,1821,4263101,8361,5081,8701,5262,5033,4354,5344,234
Capital expenditure363362312272304226245259247376319316461376554588711790876903
Free cash flow57185452353.07041,0548651,0104448061,107-6.01,3751,1321,3169381,7922,6453,6583,331
Free cash flow margin6.8%10.6%6.4%0.7%9.2%14.5%12.2%13.5%5.9%9.6%12.2%-0.1%12.8%11.4%11.1%7.4%12.6%15.8%18.2%15.8%
Cash from investing-474324-793-468776-579-475-745-2,186-887-1,010-1,921-5,041-411-1,597-2,011-2,574-5,687-2,640-3,496
Cash from financing-680-1,350-820-508-1,728-764-624-1501,276-2061101,4322,973293-95.0-5485.01,814-395-1,423
Depreciation and amortisation9188648348167176836897257698158448941,0111,1231,0931,1361,1961,2691,3681,432
Share-based compensation122138144150128108105103107116127140157170194220233266299313
Buybacksn/an/an/an/a4926005001250.00.0n/a0.00.05350.00.0n/an/an/an/a
Dividends paidn/an/an/an/an/an/an/an/an/an/an/a0.00.028.055.055.028.00.0n/an/a
Diluted shares, weighted1,487m1,498m1,508m1,518m1,519m1,407m1,341m1,324m1,341m1,377m1,393m1,401m1,411m1,417m1,434m1,440m1,464m1,486m1,494m1,452m
Shares outstanding at period endn/an/an/a1,521m1,449m1,356m1,322m1,327m1,347m1,362m1,373m1,385m1,395mn/an/an/an/an/an/a1,449m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equityn/a13,17412,30111,29611,3536,8706,5396,4576,3206,7337,0128,72613,87715,32616,62217,57319,28221,77024,23325,630
Non-controlling interestn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.0248233239243
Debtn/a6,7435,9155,4504,2614,2564,2404,2445,6505,4845,6167,05610,0089,1309,0658,9159,10210,74611,43611,953
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.0276401389347390401446n/a
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a122n/a
Other liabilitiesn/a7,2226,9615,3825,6766,0285,7926,3416,1635,8796,4145,2176,4045,9206,1535,6346,1146,2457,1977,635
Total liabilities and equityn/a27,13925,17722,12821,29017,15416,57117,04218,13318,09619,04220,99930,56530,77732,22932,46935,13639,39543,67345,461
Owned
Fixed assetsn/a1,7281,7221,6971,6701,5641,5461,5071,4901,6301,6971,7822,0792,0842,2522,4462,8593,2944,0364,183
Goodwilln/a12,42111,93610,1869,7615,9735,6935,8986,4736,6786,9987,91110,1769,95111,98812,92014,38717,08918,28218,736
Intangible assetsn/a7,2446,6676,3436,4736,2895,9505,6066,1945,8835,8376,3727,8865,9176,1215,9026,0036,6847,0196,860
Securities held for sale or to maturityn/an/a0.00.00.0n/an/an/an/an/a47.026.023.02.00.01.0n/an/an/an/a
Trading assetsn/an/a0.00.00.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents1,4521,6418642132672072175873191961881462171,7341,9259288654141,965609
Inventoryn/a8538918949318848979461,0169551,0781,1661,5791,3511,6101,8672,4842,8102,9433,317
Other assetsn/a3,2523,0972,7952,1882,2372,2682,4982,6412,7543,1973,5968,6059,7388,3338,4058,5389,1049,42811,756
Total assetsn/a27,13925,17722,12821,29017,15416,57117,04218,13318,09619,04220,99930,56530,77732,22932,46935,13639,39543,67345,461
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded10.4%15.2%16.5%8.9%
Profit growth, compoundedn/an/a65.3%25.5%
Return on equity, average9.7%7.6%9.5%12.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Boston Scientific's revenue in fiscal 2025?

Boston Scientific (BSX) reported revenue of $20.1 billion for fiscal 2025, the year ended 31 December 2025, up 19.9% on the year before.

How much did Boston Scientific earn in fiscal 2025?

Net income was $2.9 billion for fiscal 2025, and diluted earnings per share $1.94.

What is Boston Scientific's P/E ratio?

At the close of 6 November 2026, Boston Scientific traded at 18.1 times its earnings over the twelve months to 30 September 2026.

What is Boston Scientific's market cap?

The market cap of Boston Scientific was $62.0 billion at the close of 6 November 2026.

How much debt does Boston Scientific have?

At 30 September 2026 Boston Scientific carried $12.0 billion of debt and $609 million of cash.

Peers: Medical Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Stryker Corp. SYK$124.0 billion34.7015.4%20.7%7.9%0.641.1%
3M Co. MMM$95.7 billion27.6185.7%18.8%1.7%3.631.7%
Boston Scientific Corp. BSX$62.0 billion18.1113.7%18.7%8.9%0.47n/a
Becton Dickinson & Co. BDX$57.7 billion63.803.9%9.6%-2.6%0.692.0%
Medline Inc. MDLN$52.2 billion57.614.9%5.7%n/a1.07n/a
Resmed Inc. RMD$33.1 billion21.4226.8%33.0%9.0%0.071.0%
Dexcom Inc. DXCM$29.6 billion31.1439.1%24.0%13.0%0.49n/a
West Pharmaceutical Services Inc. WST$27.9 billion44.8721.5%23.0%12.6%0.070.2%
Solventum Corp. SOLV$15.4 billion101.513.2%5.6%-2.8%1.05n/a
Baxter International Inc. BAX$13.3 billionn/a-11.1%-1.9%5.3%1.322.0%
Glaukos Corp. GKOS$13.3 billionn/a-23.7%-25.5%46.9%0.00n/a
Penumbra Inc. PEN$12.6 billion80.459.9%12.1%17.0%0.00n/a
All 110 in Medical Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$156.9 billion54.7518.5%28.4%20.5%0.00n/a
Medtronic plc MDT$130.3 billion25.0710.4%18.1%9.8%0.562.8%
Stryker Corp. SYK$124.0 billion34.7015.4%20.7%7.9%0.641.1%
3M Co. MMM$95.7 billion27.6185.7%18.8%1.7%3.631.7%
Boston Scientific Corp. BSX$62.0 billion18.1113.7%18.7%8.9%0.47n/a
Edwards Lifesciences Corp. EW$58.8 billion57.679.4%21.6%13.4%0.06n/a
Becton Dickinson & Co. BDX$57.7 billion63.803.9%9.6%-2.6%0.692.0%
Medline Inc. MDLN$52.2 billion57.614.9%5.7%n/a1.07n/a
GE HealthCare Technologies Inc. GEHC$37.2 billion17.3818.5%13.3%6.9%0.860.2%
Resmed Inc. RMD$33.1 billion21.4226.8%33.0%9.0%0.071.0%
Dexcom Inc. DXCM$29.6 billion31.1439.1%24.0%13.0%0.49n/a
Koninklijke Philips N.V. PHG *$29.2 billion29.228.2%8.0%-1.0%0.741.3%
West Pharmaceutical Services Inc. WST$27.9 billion44.8721.5%23.0%12.6%0.070.2%
Steris plc STE$24.5 billion29.9311.4%19.0%8.1%0.261.0%
Zimmer Biomet Holdings, Inc. ZBH$20.0 billion26.736.0%13.6%7.0%0.590.9%
Solventum Corp. SOLV$15.4 billion101.513.2%5.6%-2.8%1.05n/a
Smith & Nephew plc SNN *$13.7 billion21.7611.8%12.9%6.1%0.592.4%
Baxter International Inc. BAX$13.3 billionn/a-11.1%-1.9%5.3%1.322.0%
Glaukos Corp. GKOS$13.3 billionn/a-23.7%-25.5%46.9%0.00n/a
Penumbra Inc. PEN$12.6 billion80.459.9%12.1%17.0%0.00n/a
Cooper Companies, Inc. COO$11.9 billion21.296.8%12.8%4.7%0.31n/a
Align Technology Inc. ALGN$11.7 billion24.1711.4%14.9%4.4%0.00n/a
Insulet Corp. PODD$10.2 billion23.8727.2%18.4%26.5%0.61n/a
Globus Medical Inc. GMED$9.5 billion17.4511.6%21.6%13.4%0.00n/a
Bausch & Lomb Corp. BLCO$7.1 billionn/a-1.7%7.1%8.9%0.79n/a
MSA Safety Inc. MSA$6.6 billion21.8621.1%20.2%8.1%0.781.3%
Teleflex Inc. TFX$6.0 billion18.338.7%9.4%20.9%0.460.9%
Haemonetics Corp. HAE$5.5 billion53.8311.6%12.8%4.1%1.26n/a
Merit Medical Systems Inc. MMSI$5.2 billion32.809.2%13.5%9.1%0.42n/a
LivaNova plc LIVN$5.0 billion30.0114.3%10.7%11.7%0.22n/a
MiniMed Group, Inc. MMED$4.7 billionn/an/an/an/a0.00n/a
Heartflow, Inc. HTFL$4.5 billionn/a-42.3%-37.8%n/a0.00n/a
Integer Holdings Corp. ITGR$4.3 billion42.486.0%8.2%-0.3%0.71n/a
ICU Medical Inc. ICUI$4.3 billion71.992.8%5.1%-5.9%0.53n/a
Envista Holdings Corp. NVST$4.0 billion6.5120.5%25.4%9.8%0.46n/a
Pulse Biosciences, Inc. PLSE$3.9 billionn/a-45.6%-5,821.1%1,637.2%0.00n/a
Warby Parker Inc. WRBY$3.2 billion424.581.9%0.2%9.9%0.00n/a
TransMedics Group, Inc. TMDX$3.1 billion23.8926.2%11.9%28.5%0.930.0%
iRhythm Holdings, Inc. IRTC$3.0 billionn/a-21.8%-5.7%21.6%3.68n/a
Axogen, Inc. AXGN$3.0 billionn/a-6.4%-5.2%24.3%0.00n/a
AtriCure, Inc. ATRC$3.0 billion195.032.8%2.9%13.8%0.11n/a
UFP Technologies Inc. UFPT$2.3 billion30.9015.8%15.5%8.6%0.20n/a
Establishment Labs Holdings Inc. ESTA$2.0 billionn/a-246.6%-6.6%38.3%17.17n/a
Dentsply Sirona Inc. XRAY$1.9 billionn/a-8.9%-1.5%-1.4%1.626.8%
Lemaitre Vascular Inc. LMAT$1.9 billion29.4214.7%27.7%11.8%0.391.2%
Inspire Medical Systems, Inc. INSP$1.8 billion18.5712.2%1.8%-0.2%0.00n/a
Kestra Medical Technologies, Ltd. KMTS$1.7 billionn/a-67.4%-134.5%60.7%0.33n/a
Butterfly Network, Inc. BFLY$1.7 billionn/a-29.1%-46.9%39.3%0.000.0%
Enovis Corp. ENOV$1.6 billionn/a-35.3%-20.6%3.3%0.84n/a
NovoCure Ltd. NVCR$1.6 billionn/a-34.7%-17.2%12.9%0.56n/a
Conmed Corp. CNMD$1.5 billion21.306.9%9.9%1.6%0.771.2%
National Vision Holdings, Inc. EYE$1.4 billion29.335.6%4.1%7.8%0.26n/a
Cadre Holdings, Inc. CDRE$1.4 billion34.4211.2%10.7%18.3%1.011.2%
Staar Surgical Co. STAA$1.3 billion1,815,851,369,755,783,936.000.1%0.2%42.4%0.00n/a
Procept BioRobotics Corp. PRCT$1.2 billionn/a-34.9%-33.6%17.5%0.16n/a
Tandem Diabetes Care Inc. TNDM$1.2 billionn/a-36.4%-2.4%6.8%4.47n/a
Alphatec Holdings, Inc. ATEC$1.2 billionn/an/a-3.6%15.3%n/an/a
Iradimed Corp. IRMD$1.1 billion46.1422.5%32.3%11.0%0.000.9%
Si-Bone, Inc. SIBN$1.1 billionn/a-7.4%-7.6%14.0%0.190.0%
Integra LifeSciences Holdings Corp. IART$1.0 billion78.971.2%4.4%0.8%1.71n/a
Ceribell, Inc. CBLL$1.0 billionn/a-62.9%-69.8%31.3%0.17n/a
Artivion, Inc. AORT$986 millionn/a-3.9%2.3%14.0%0.81n/a
Bioventus Inc. BVS$893 million13.2523.8%9.7%3.9%0.96n/a
Beta Bionics, Inc. BBNX$855 millionn/a-20.7%-72.7%43.7%0.00n/a
Orthopediatrics Corp. KIDS$828 millionn/a-10.0%-9.4%16.1%0.31n/a
Tactile Systems Technology Inc. TCMD$585 million25.2610.5%9.4%14.4%0.00n/a
Sight Sciences, Inc. SGHT$558 millionn/a-57.8%-29.5%16.2%0.83n/a
Anteris Technologies Global Corp. AVR$553 millionn/a-41.2%-4,738.4%-9.6%0.00n/a
Delcath Systems, Inc. DCTH$517 million1,494.000.4%-1.9%35.8%0.00n/a
Avita Medical, Inc. RCEL$513 millionn/an/a-33.9%17.0%n/an/a
Angiodynamics Inc. ANGO$497 millionn/a-20.1%-11.2%8.2%0.00n/a
Mimedx Group, Inc. MDXG$482 millionn/a-9.1%-8.3%-22.8%0.00n/a
SS Innovations International, Inc. SSII$430 millionn/a-23.3%-15.8%89.7%0.00n/a
NeuroPace Inc. NPCE$428 millionn/a-160.9%-15.3%11.6%4.970.0%
Shoulder Innovations, Inc. SI$426 millionn/a-28.2%-54.4%n/a0.13n/a
Cerus Corp. CERS$407 millionn/a-9.7%-1.0%n/a0.84n/a
Carlsmed, Inc. CARL$395 millionn/a-43.1%-61.1%n/a0.18n/a
Mobia Medical, Inc. MOBI$372 millionn/an/an/an/a0.05n/a
Embecta Corp. EMBC$350 million4.18n/a21.9%-7.6%n/a7.4%
Orchestra BioMed Holdings, Inc. OBIO$341 millionn/a-305.5%-181.4%986.1%1.80n/a
Orthofix Medical Inc. OFIX$320 millionn/a-14.4%-4.7%3.0%0.52n/a
CapsoVision, Inc. CV$316 millionn/a-226.6%-217.1%n/a0.00n/a
Cytosorbents Corp. CTSO$308 millionn/an/a-34.7%3.1%n/an/a
Sanara MedTech Inc. SMTI$291 millionn/a-403.0%n/a12.9%5.85n/a
ClearPoint Neuro, Inc. CLPT$276 millionn/a-132.5%-70.6%32.5%1.86n/a
InfuSystem Holdings, Inc. INFU$272 million33.3414.4%9.3%2.5%0.35n/a
Treace Medical Concepts, Inc. TMCI$265 millionn/a-90.5%-24.4%-7.1%0.91n/a
Profound Medical Corp. PROF$264 millionn/a-76.4%-145.1%65.3%0.11n/a
Orasure Technologies Inc. OSUR$238 millionn/a-15.5%-48.1%-18.9%0.00n/a
Utah Medical Products Inc. UTMD$231 million22.138.6%28.4%-7.0%0.00n/a
Electromed, Inc. ELMD$226 million20.5820.9%18.8%15.3%0.00n/a
PRO DEX Inc. PDEX$202 million17.3524.4%16.8%13.3%0.33n/a
TriSalus Life Sciences, Inc. TLSI$200 millionn/a-430.7%-67.7%25.2%5.05n/a
Anika Therapeutics, Inc. ANIK$195 millionn/a-1.3%-2.1%9.4%0.00n/a
RxSight, Inc. RXST$190 millionn/a-20.9%-50.4%-14.3%0.00n/a
Inogen Inc. INGN$161 millionn/a-14.1%-8.7%3.2%0.00n/a
Edap TMS SA FOCL$158 millionn/a-104.3%-35.4%n/a0.99n/a
Koru Medical Systems, Inc. KRMD$143 millionn/a-10.1%-3.7%22.4%0.00n/a
Apyx Medical Corp. APYX$124 millionn/a-87.6%-5.5%24.4%3.89n/a
Pulmonx Corp. LUNG$112 millionn/a-124.4%-44.4%-3.2%1.11n/a
Stereotaxis, Inc. STXS$111 millionn/a-182.3%-75.7%-5.5%0.00n/a
SkinHealth Systems Inc. SKIN$102 millionn/a-32.8%2.4%-4.4%4.36n/a
Lakeland Industries Inc. LAKE$88 millionn/a-21.4%-4.1%-0.4%0.23n/a
Outset Medical, Inc. OM$79 millionn/a-85.4%-51.2%1.6%1.18n/a
Neuraxis, Inc. NRXS$77 millionn/a-114.0%-144.5%65.2%0.01n/a
Lucid Diagnostics Inc. LUCD$76 millionn/a-478.3%-930.8%24.9%2.15n/a
Lensar, Inc. LNSR$66 millionn/a232.8%-13.5%3.3%0.25n/a
NutriBand Inc. NTRB$66 millionn/a-130.7%-435.6%-37.3%0.00n/a
RenovoRx, Inc. RNXT$55 millionn/a-140.2%-489.0%n/a0.00n/a
PAVmed Inc. PAVM$10 millionn/a-34.5%-23,841.1%-89.0%0.43n/a
70 companies share its SEC industry code (Surgical & Medical Instruments & Apparatus); the rest are the names nearest in size in its wider industry, Medical Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on BSX

Dividends$28.0 million paid in cash dividends in FY2023
Filings31 in twelve months: 19 current reports (8-K), about 6 other events; 5 officer or director change; 4 results of operations; 2 material agreement; 2 regulation FD disclosure
Planned insider sales2 Form 144 notices in twelve months, $16.8 million; latest 2 February 2026
Options tapeput/call 0.65 by open interest at the 6 November 2026 close; the straddle prices a 4.7% move to 13 November 2026
13F holders1,492 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading3 sales and 10 purchases on Form 4 in twelve months
Congress10 House trades disclosed in six months
Short interest40.7 million shares short, 2.59 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20262 November 2026EDGAR
10-Q30 June 20263 August 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q30 September 20253 November 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 20241 November 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

Reading about a stock somewhere else? Our free Chrome extension, GreekSoup Stock Ticker Lookup: Earnings, Insider Trades, 13F Holders, shows the latest quarter against a year ago, insider trades and 13F holders when you hover a $ticker such as $AAPL.