Boston Scientific (BSX) FY2016 results: revenue $8.4 billion, up 12.2% on the year
Boston Scientific Corp. (BSX) reported revenue of $8.4 billion for fiscal 2016, the year ended 31 December 2016, up 12.2% on the year before. Net income was $347 million, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$8.4 billion
+12.2% on the year
FY2009FY2016
Operating margin
5.3%
-3.8% a year earlier
FY2009FY2016
Net income
$347 million
FY2009FY2016
Diluted EPS
$0.25
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
8,386
7,477
7,462
+12.2%
Cost of revenue
2,424
2,173
2,210
+11.6%
Gross profit
5,962
5,304
5,170
+12.4%
Gross margin
71.1%
70.9%
69.3%
Research and development
920
876
817
+5.0%
Selling, general and administrative
3,099
2,873
2,902
+7.9%
Operating income
447
-283
-301
Operating margin
5.3%
-3.8%
-4.0%
Interest expense
233
284
216
-18.0%
Pre-tax income
177
-650
-509
Income tax
-170
-411
-390
Effective tax rate
-96.0%
n/a
n/a
Net income
347
-239
-119
Net margin
4.1%
-3.2%
-1.6%
Diluted EPS
$0.25
-$0.18
-$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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,182
691
1,269
+71.1%
Capital expenditure
376
247
259
+52.2%
Free cash flow
806
444
1,010
+81.5%
Free cash flow margin
9.6%
5.9%
13.5%
Cash from investing
-887
-2,186
-745
Cash from financing
-206
1,276
-150
Depreciation and amortisation
815
769
725
+6.0%
Share-based compensation
116
107
103
+8.4%
Buybacks
0.0
0.0
125
Diluted shares, weighted
1,377m
1,341m
1,324m
+2.7%
Shares outstanding at period end
1,362m
1,347m
1,327m
+1.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,733
6,320
6,457
+6.5%
Debt
5,484
5,650
4,244
-2.9%
Other liabilities
5,879
6,163
6,341
-4.6%
Total liabilities and equity
18,096
18,133
17,042
-0.2%
Fixed assets
1,630
1,490
1,507
+9.4%
Goodwill
6,678
6,473
5,898
+3.2%
Intangible assets
5,883
6,194
5,606
-5.0%
Cash and equivalents
196
319
587
-38.6%
Inventory
955
1,016
946
-6.0%
Other assets
2,754
2,641
2,498
+4.3%
Total assets
18,096
18,133
17,042
-0.2%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.