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Boston Scientific Corporation

BSX Healthcare Medical Devices

Boston Scientific Corporation’s revenue for fiscal 2025 (year ended December 2025) was $20.1 billion, up 19.9% from fiscal 2024. In the quarter to June 2026, revenue grew 7.53%, EPS grew 14.8%, free cash flow grew 13.3% and total debt rose 8.95%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

44.39 0.25 +0.57%
Market cap
$64.0B
P/E
17.9×
Fwd P/E
17.8×
Dividend yield
—
F-score
7/9
Altman Z
5.41
Beneish M
−2.49
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 10.04
Total sells 23.04
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 3 — 1 4 — —
Sell 2 1 — 1 — — — — — — — —
Insider Ownership 2.05%

Capital & Financial Ratios $m

Market Cap 63,970.00
Revenue 20,995.00
Net Income 3,668.00
Free Cash Flow 3,625.00
Net Debt 12,085.00
Current Ratio 1.24
Debt/Equity 0.50
P/E ratio 17.90
Fwd P/E 17.80
P/S ratio 3.11
P/B ratio 2.59
Past 5Y EPS Growth —
This Y EPS Growth 6.15%
Next Y EPS Growth 4.24%
Next Y revenue growth 5.56%
Next 5Y EPS Growth 6.88%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.7×, against a ten-year median of 5.9×; over the ten years it ranged from 3.6× in 2026 to 9.7× in 2025.
P/E against its own 10 years 11.61%
10-year low 10-year high
P/S against its own 10 years 1.88%
10-year low 10-year high
P/B against its own 10 years 1.51%
10-year low 10-year high
EV/Sales against its own 10 years 1.44%
10-year low 10-year high
EV/FCF against its own 10 years 1.25%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 865 414 1,965 539
Receivables 2,228 2,558 2,926 3,049
Inventory 2,484 2,810 2,943 3,235
Other 621 831 660 760
6,514 6,920 8,794 7,972
2023 2024 2025 Q'26
Payables 942 960 1,144 1,231
ST’ Debt 531 1,778 299 1,709
Other 814 887 795 732
4,933 6,399 5,439 6,428

Compound Annual Growth %

10y 5y 3y
Sales 10.38% 15.16% 16.54%
Cash Flow 20.70% 24.63% 43.76%
Earnings 0.00% 0.00% 65.27%
Book Value 14.50% 9.81% 11.67%

Revenue $m

Mar Jun Sep Dec Year
’26 5,203 5,442 — — —
’25 4,663 5,061 5,065 5,285 20,074
’24 3,856 4,120 4,209 4,562 16,747
’23 3,389 3,599 3,527 3,725 14,240
’22 3,026 3,244 3,170 3,242 12,682
’21 2,752 3,077 2,932 3,127 11,888
’20 2,543 2,003 2,659 2,708 9,913
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 348 1,474 — — —
’25 541 1,286 1,343 1,364 4,534
’24 164 813 1,002 1,456 3,435
’23 190 658 698 957 2,503
’22 (58) 307 470 807 1,526
’21 284 643 465 478 1,870
’20 (77) 269 643 673 1,508
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 171 1,279 — — —
’25 354 1,129 1,162 1,013 3,658
’24 (15) 658 823 1,179 2,645
’23 82 515 509 686 1,792
’22 (171) 203 321 597 950
’21 213 540 361 216 1,330
’20 (174) 202 596 520 1,144
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.90 0.61 — — —
’25 0.45 0.53 0.51 0.45 1.94
’24 0.33 0.22 0.32 0.38 1.25
’23 0.21 0.18 0.34 0.34 1.07
’22 0.07 0.17 0.12 0.09 0.45
’21 0.23 0.12 0.28 0.06 0.69
’20 0.01 (0.11) (0.12) 0.10 (0.12)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 15.67 21.66 24.84 32.73 24.10 34.58 34.98 44.35 57.11 85.98

Analyst estimates 2026–2028

Powerpack
High 24.79 29.93 39.44 46.62 46.13 46.29 47.95 58.34 91.93 109.50
People
People Employees 27,000 29,000 32,000 36,000 38,000 41,000 45,000 48,000 53,000 59,000
Revenue/emp, $m 0.31 0.31 0.31 0.30 0.26 0.29 0.28 0.30 0.32 0.34
Income, $m
Income, $m Revenue 8,386 9,048 9,823 10,735 9,913 11,888 12,682 14,240 16,747 20,074
Gross margin, % 71.09 71.34 71.36 70.97 65.05 68.78 68.81 69.49 68.61 69.01
EBT 177 933 1,422 687 (79) 1,076 1,141 1,985 2,282 3,385
EBT margin, % 2.11 10.31 14.48 6.40 (0.80) 9.05 9.00 13.94 13.63 16.86
Net income 347 104 1,671 4,700 (82) 1,041 698 1,592 1,846 2,892
Depreciation 826 848 929 1,116 1,656 1,463 1,268 1,254 1,655 1,414
Per share, $
Per share, $ Revenue 6.18 6.60 7.11 7.71 7.00 8.36 8.87 9.80 11.38 13.56
Earnings 0.26 0.08 1.21 3.38 (0.12) 0.69 0.45 1.08 1.26 1.96
Cash flow 0.87 1.04 0.22 1.32 1.06 1.31 1.07 1.72 2.33 3.06
Capex (0.26) (0.23) (0.22) (0.33) (0.26) (0.38) (0.40) (0.49) (0.54) (0.59)
Free cash flow 0.62 0.81 0.01 0.99 0.81 0.94 0.66 1.23 1.80 2.47
Book value 4.96 5.12 6.32 9.97 10.82 11.69 12.28 13.44 14.95 16.53
Shares, m 1,358 1,370 1,381 1,392 1,417 1,422 1,431 1,453 1,472 1,480
Valuation, ×
Valuation, × P/E 84.15 316.00 29.21 13.38 0.00 61.57 102.24 54.06 70.89 48.65
P/S 3.54 3.83 4.97 5.86 5.14 5.08 5.19 5.90 7.85 7.03
P/B 4.41 4.94 5.59 4.53 3.32 3.63 3.75 4.30 5.97 5.77
EV/Sales 4.17 4.43 5.67 6.77 5.89 5.68 5.82 6.48 8.47 7.50
EV/FCF 41.91 36.19 6,964.32 52.62 51.00 50.80 77.71 51.49 53.60 41.18
Cash, $m
Cash, $m Operating cash flow 1,182 1,426 310 1,836 1,508 1,870 1,526 2,503 3,435 4,534
Capex (347) (319) (302) (454) (364) (540) (576) (711) (790) (876)
Free cash flow 835 1,107 8 1,382 1,144 1,330 950 1,792 2,645 3,658
Balance, $m
Balance, $m Working capital (348) (1,832) (1,257) (167) 3,013 2,043 1,957 1,581 521 3,355
Total debt 5,484 5,616 7,056 10,008 9,143 9,065 8,935 9,102 10,746 11,436
Net debt 5,288 5,428 6,910 9,791 7,409 7,140 8,007 8,237 10,332 9,471
Shareholders’ equity 6,733 7,012 8,726 13,877 15,326 16,622 17,573 19,530 22,003 24,472
Returns, %
Returns, % ROA 1.92 0.56 8.35 18.23 (0.37) 3.13 1.98 4.64 4.97 6.98
ROIC 2.32 6.46 6.02 4.01 (0.22) 3.15 4.02 5.27 5.04 6.65
ROE 5.32 1.51 21.24 41.59 (0.79) 6.17 3.75 8.46 8.92 12.47
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Boston Scientific Corporation vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ABT Abbott Laboratories $181.1B 33.9× 22.9× +13.02% (above 0%: growing) −47.52% (below 0%: shrinking) +28.87% (above 0%: growing) 57.71% 13.44% Compare
MDT Medtronic PLC $122.1B 23.2× 18.7× +13.73% (above 0%: growing) +41.98% (above 0%: growing) +120.89% (above 0%: growing) 64.99% 18.08% Compare
SYK Stryker Corporation $112.5B 30.3× 24.1× +9.42% (above 0%: growing) +43.10% (above 0%: growing) +14.12% (above 0%: growing) 68.27% 25.18% Compare
BSX Boston Scientific Corporation $64.0B 17.9× 17.8× +7.53% (above 0%: growing) +14.81% (above 0%: growing) +13.29% (above 0%: growing) 70.71% 21.65%
EW Edwards Lifesciences Corporation $50.8B 49.8× 30.7× +13.63% (above 0%: growing) −26.32% (below 0%: shrinking) +142.84% (above 0%: growing) 77.46% 29.48% Compare
DXCM DexCom, Inc. $33.1B 33.2× 29.8× +13.08% (above 0%: growing) +41.30% (above 0%: growing) −11.68% (below 0%: shrinking) 63.44% 24.33% Compare
GEHC GE HealthCare Technologies Inc. $31.8B 16.0× 14.4× +5.75% (above 0%: growing) +16.98% (above 0%: growing) +750.00% (above 0%: growing) 41.17% 13.96% Compare
PHG Koninklijke Philips N.V. $24.9B 18.8× 11.2× +2.94% (above 0%: growing) +56.67% (above 0%: growing) +49.74% (above 0%: growing) 49.31% 13.99% Compare
STE STERIS plc $21.9B 27.1× 23.6× +7.30% (above 0%: growing) +13.89% (above 0%: growing) −14.36% (below 0%: shrinking) 45.84% 19.15% Compare
Median of peers $41.9B 28.7× 23.3× +11.22% +29.14% +39.31% 60.58% 18.61%

All 149 Medical Devices stocks →

BSX metrics, ten years each

Boston Scientific Corporation (BSX) key facts

  • Strength: Boston Scientific Corporation’s revenue for fiscal 2025 (year ended December 2025) was $20.1 billion, up 19.9% from fiscal 2024.
  • Boston Scientific Corporation (BSX) is a Medical Devices company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, BSX traded at $44.39, a market capitalization of $64.0 billion.
  • Return on equity was 12.5% and debt-to-equity 0.50.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 5.41 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/BSX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com