BOSTON SCIENTIFIC CORP
BSX· NYSE· Surgical & Medical Instruments & Apparatus
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 18.2%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +15.2%
We record prices for the companies we cover; BSX is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 1.49B
- Revenue
- $20.1B
- Free cash flow
- $3.7B
- Owner earnings
- $3.4B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 69.0%
- Operating
- 18.0%
- Net
- –
- Free cash flow
- 18.2%
- Owner earnings
- 16.7%
- Stock pay
- 1.5%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 16.5%
- Revenue, 5 yr
- 15.2%
- Revenue, 9 yr
- 10.2%
- Diluted EPS, 3 yr
- 62.8%
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- 25.6%
- Free cash flow, 3 yr
- 57.4%
- Free cash flow, 5 yr
- 26.4%
- Free cash flow, 9 yr
- 18.3%
Financial health · FY2025
- Cash and investments
- $2.0B
- Total debt
- –
- Net cash
- –
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 1.1%
Financials: ten years from the 10-Ks
Revenue
$20.1B
+10.2% a year over 9 years
FY2016FY2025
Margins
Gross69.0%Operating18.0%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$3.7BOwner earnings$3.4B
Free cash flow +18.3% a year
FY2016FY2025
Diluted shares
1.49B
+8.5% over 9 years, net dilution
FY2016FY2025
Return on invested capital
–
FY2025
FY2016FY2025
Net debt (below zero)
–
$3.6B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $8.4B | $9.0B | $9.8B | $10.7B | $9.9B | $11.9B | $12.7B | $14.2B | $16.7B | $20.1B |
| Revenue growth | 3.9% | 7.9% | 8.6% | 9.3% | -7.7% | 19.9% | 6.7% | 12.3% | 17.6% | 19.9% |
| Gross margin | 71.1% | 71.3% | 71.4% | 71.0% | 65.0% | 68.8% | 68.8% | 69.5% | 68.6% | 69.0% |
| Operating margin | 5.3% | 14.2% | 15.3% | 14.1% | -0.8% | 10.1% | 13.0% | 16.5% | 15.5% | 18.0% |
| Net income | – | – | – | – | – | – | – | – | – | – |
| Net margin | – | – | – | – | – | – | – | – | – | – |
| Diluted EPS | $0.25 | $0.08 | $1.19 | $3.33 | $-0.08 | $0.69 | $0.45 | $1.07 | $1.25 | $1.94 |
| Return on invested capital? | – | 1.4% | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $1.2B | $1.4B | $310.0M | $1.8B | $1.5B | $1.9B | $1.5B | $2.5B | $3.4B | $4.5B |
| Capital expenditure | $376.0M | $319.0M | $316.0M | $461.0M | $376.0M | $554.0M | $588.0M | $711.0M | $790.0M | $876.0M |
| Free cash flow | $806.0M | $1.1B | -$6.0M | $1.4B | $1.1B | $1.3B | $938.0M | $1.8B | $2.6B | $3.7B |
| Stock-based compensation | $116.0M | $127.0M | $140.0M | $157.0M | $170.0M | $194.0M | $220.0M | $233.0M | $266.0M | $299.0M |
| Owner earnings? | $690.0M | $980.0M | -$146.0M | $1.2B | $962.0M | $1.1B | $718.0M | $1.6B | $2.4B | $3.4B |
| Free cash flow per share | $0.59 | $0.79 | $-0.00 | $0.97 | $0.80 | $0.92 | $0.65 | $1.22 | $1.78 | $2.45 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | $0 | $0 | $28.0M | $55.0M | $55.0M | $28.0M | $0 | – |
| Share repurchases | $0 | – | $0 | $0 | $535.0M | $0 | $0 | – | – | – |
| Diluted shares | 1.38B | 1.39B | 1.40B | 1.41B | 1.42B | 1.43B | 1.44B | 1.46B | 1.49B | 1.49B |
| Share count change? | 2.7% | 1.1% | 0.6% | 0.7% | 0.4% | 1.2% | 0.4% | 1.7% | 1.5% | 0.6% |
| Balance sheet | ||||||||||
| Cash and equivalents | $196.0M | $188.0M | $146.0M | $217.0M | $1.7B | $1.9B | $928.0M | $865.0M | $414.0M | $2.0B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $5.4B | $3.8B | – | – | – | – | – | – | – | – |
| Net debt | $5.2B | $3.6B | – | – | – | – | – | – | – | – |
| Shareholders' equity | $6.7B | $7.0B | $8.7B | $13.9B | $15.3B | $16.6B | $17.6B | $19.3B | $21.8B | $24.2B |
Latest filings
| 2026-10-28 | 8-K | Earnings release |
| 2026-08-03 | 10-Q | Quarterly report |
| 2026-07-29 | 8-K | Earnings release |
| 2026-05-01 | 10-Q | Quarterly report |
| 2026-04-22 | 8-K | Earnings release |
| 2026-03-18 | DEF 14A | Proxy statement |
| 2026-02-17 | 10-K | Annual report |
| 2026-02-04 | 8-K | Earnings release |
| 2025-11-03 | 10-Q | Quarterly report |
| 2025-10-22 | 8-K | Earnings release |
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