Boston Scientific (BSX) FY2015 results: revenue $7.5 billion, up 0.2% on the year
Boston Scientific Corp. (BSX) reported revenue of $7.5 billion for fiscal 2015, the year ended 31 December 2015, up 0.2% on the year before. Net income was -$239 million, and diluted earnings per share $-0.18. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$7.5 billion
+0.2% on the year
FY2008FY2015
Operating margin
-3.8%
-4.0% a year earlier
FY2008FY2015
Net income
-$239 million
FY2008FY2015
Diluted EPS
-$0.18
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
7,477
7,462
7,072
+0.2%
Cost of revenue
2,173
2,210
2,174
-1.7%
Gross profit
5,304
5,170
4,969
+2.6%
Gross margin
70.9%
69.3%
70.3%
Research and development
876
817
861
+7.2%
Selling, general and administrative
2,873
2,902
2,674
-1.0%
Operating income
-283
-301
120
Operating margin
-3.8%
-4.0%
1.7%
Interest expense
284
216
324
+31.5%
Pre-tax income
-650
-509
-223
Income tax
-411
-390
-102
Net income
-239
-119
-121
Net margin
-3.2%
-1.6%
-1.7%
Diluted EPS
-$0.18
-$0.09
-$0.09
$ million except per share. 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
691
1,269
1,110
-45.5%
Capital expenditure
247
259
245
-4.6%
Free cash flow
444
1,010
865
-56.0%
Free cash flow margin
5.9%
13.5%
12.2%
Cash from investing
-2,186
-745
-475
Cash from financing
1,276
-150
-624
Depreciation and amortisation
769
725
689
+6.1%
Share-based compensation
107
103
105
+3.9%
Buybacks
0.0
125
500
Diluted shares, weighted
1,341m
1,324m
1,341m
+1.3%
Shares outstanding at period end
1,347m
1,327m
1,322m
+1.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,320
6,457
6,539
-2.1%
Debt
5,650
4,244
4,240
+33.1%
Other liabilities
6,163
6,341
5,792
-2.8%
Total liabilities and equity
18,133
17,042
16,571
+6.4%
Fixed assets
1,490
1,507
1,546
-1.1%
Goodwill
6,473
5,898
5,693
+9.7%
Intangible assets
6,194
5,606
5,950
+10.5%
Cash and equivalents
319
587
217
-45.7%
Inventory
1,016
946
897
+7.4%
Other assets
2,641
2,498
2,268
+5.7%
Total assets
18,133
17,042
16,571
+6.4%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.