Boston Scientific (BSX) | Financial Analysis & Statements
Boston Scientific Corporation Large-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
5.3B
Gross Profit
3.7B
69.58%
Operating Income
1.0B
19.69%
Net Income
670.0M
12.67%
EPS (Diluted)
$0.45
Balance Sheet Metrics
Total Assets
43.7B
Total Liabilities
19.2B
Shareholders Equity
24.5B
Debt to Equity
0.78
Cash Flow Metrics
Operating Cash Flow
1.3B
Free Cash Flow
939.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Boston Scientific Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 20.1B | 16.7B | 14.2B | 12.7B | 11.9B |
| Cost of Goods Sold | 6.2B | 5.3B | 4.3B | 4.0B | 3.7B |
| Gross Profit | 13.9B | 11.5B | 9.9B | 8.7B | 8.2B |
| Gross Margin % | 69.0% | 68.6% | 69.5% | 68.8% | 68.8% |
| Operating Expenses | |||||
| Research & Development | 2.1B | 1.6B | 1.4B | 1.3B | 1.2B |
| Selling, General & Administrative | 6.9B | 6.0B | 5.2B | 4.5B | 4.4B |
| Other Operating Expenses | 46.0M | 33.0M | 46.0M | 47.0M | 49.0M |
| Total Operating Expenses | 9.0B | 7.6B | 6.6B | 5.9B | 5.6B |
| Operating Income | 4.0B | 3.0B | 2.4B | 2.0B | 1.8B |
| Operating Margin % | 19.8% | 17.9% | 17.0% | 16.0% | 15.3% |
| Non-Operating Items | |||||
| Interest Income | 29.0M | 107.0M | 22.0M | 10.0M | 4.0M |
| Interest Expense | - | 305.0M | 265.0M | 470.0M | 341.0M |
| Other Non-Operating Income | -267.0M | -521.0M | -188.0M | -434.0M | -412.0M |
| Pre-tax Income | 3.4B | 2.3B | 2.0B | 1.1B | 1.1B |
| Income Tax | 493.0M | 436.0M | 393.0M | 443.0M | 36.0M |
| Effective Tax Rate % | 14.6% | 19.1% | 19.8% | 38.8% | 3.3% |
| Net Income | 2.9B | 1.8B | 1.6B | 698.0M | 1.0B |
| Net Margin % | 14.4% | 11.0% | 11.2% | 5.5% | 8.8% |
| Key Metrics | |||||
| EBITDA | 5.3B | 4.3B | 3.6B | 3.2B | 2.9B |
| EPS (Basic) | $1.96 | $1.26 | $1.08 | $0.45 | $0.69 |
| EPS (Diluted) | $1.94 | $1.25 | $1.07 | $0.45 | $0.69 |
| Basic Shares Outstanding | 1480400000 | 1471500000 | 1453000000 | 1430500000 | 1422300000 |
| Diluted Shares Outstanding | 1480400000 | 1471500000 | 1453000000 | 1430500000 | 1422300000 |
Income Statement Trend
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Boston Scientific Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 2.0B | 414.0M | 865.0M | 928.0M | 1.9B |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 2.9B | 2.6B | 2.2B | 2.0B | 1.8B |
| Inventory | 2.9B | 2.8B | 2.5B | 1.9B | 1.6B |
| Other Current Assets | 661.0M | 415.0M | 333.0M | 350.0M | 385.0M |
| Total Current Assets | 8.8B | 6.9B | 6.5B | 5.8B | 6.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 0 | 449.0M | 439.0M | 386.0M | 435.0M |
| Goodwill | 43.6B | 40.9B | 34.8B | 31.7B | 30.1B |
| Intangible Assets | 7.0B | 6.7B | 6.0B | 5.9B | 6.1B |
| Long-term Investments | - | 79.0M | 107.0M | 149.0M | 169.0M |
| Other Non-Current Assets | 5.5B | 4.3B | 4.4B | 4.5B | 4.5B |
| Total Non-Current Assets | 34.9B | 32.5B | 28.6B | 26.7B | 25.9B |
| Total Assets | 43.7B | 39.4B | 35.1B | 32.5B | 32.2B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 1.1B | 960.0M | 942.0M | 862.0M | 794.0M |
| Short-term Debt | 299.0M | 1.8B | 531.0M | 20.0M | 261.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 482.0M | 314.0M | 328.0M | 308.0M | 365.0M |
| Total Current Liabilities | 5.4B | 6.4B | 4.9B | 3.8B | 4.3B |
| Non-Current Liabilities | |||||
| Long-term Debt | 11.1B | 9.4B | 9.0B | 9.3B | 9.2B |
| Deferred Tax Liabilities | 220.0M | 155.0M | 134.0M | 144.0M | 310.0M |
| Other Non-Current Liabilities | 2.4B | 634.0M | 625.0M | 589.0M | 828.0M |
| Total Non-Current Liabilities | 13.8B | 11.0B | 10.7B | 11.1B | 11.3B |
| Total Liabilities | 19.2B | 17.4B | 15.6B | 14.9B | 15.6B |
| Equity | |||||
| Common Stock | 17.0M | 17.0M | 17.0M | 17.0M | 17.0M |
| Retained Earnings | 5.6B | 2.7B | 819.0M | -750.0M | -1.4B |
| Treasury Stock | 2.3B | 2.3B | 2.3B | 2.3B | 2.3B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 24.5B | 22.0B | 19.5B | 17.6B | 16.6B |
| Key Metrics | |||||
| Total Debt | 11.4B | 11.1B | 9.5B | 9.3B | 9.5B |
| Working Capital | 3.4B | 521.0M | 1.6B | 2.0B | 2.0B |
Balance Sheet Composition
Boston Scientific Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 2.9B | 1.8B | 1.6B | 698.0M | 1.0B |
| Depreciation & Amortization | 1.4B | 1.3B | 1.2B | 1.1B | 1.1B |
| Stock-Based Compensation | 299.0M | 266.0M | 233.0M | 220.0M | 194.0M |
| Working Capital Changes | -246.0M | -462.0M | -770.0M | -1.0B | -351.0M |
| Operating Cash Flow | 4.5B | 3.0B | 2.4B | 1.2B | 1.8B |
| Investing Activities | |||||
| Capital Expenditures | -876.0M | -787.0M | -707.0M | -576.0M | -540.0M |
| Acquisitions | -1.6B | -4.6B | -1.8B | -1.5B | -1.4B |
| Investment Purchases | - | - | - | -24.0M | - |
| Investment Sales | - | 0 | 2.0M | 56.0M | 15.0M |
| Investing Cash Flow | -2.4B | -5.4B | -2.5B | -2.1B | -2.0B |
| Financing Activities | |||||
| Share Repurchases | - | - | - | 0 | 0 |
| Dividends Paid | - | 0 | -28.0M | -55.0M | -55.0M |
| Debt Issuance | 1.6B | 2.1B | - | 3.3B | 0 |
| Debt Repayment | -2.0B | -529.0M | -4.0M | -3.4B | 0 |
| Financing Cash Flow | -2.3B | 1.2B | -125.0M | 2.4B | -155.0M |
| Free Cash Flow | 3.4B | 2.4B | 1.7B | 914.0M | 1.3B |
| Net Change in Cash | -220.0M | -1.3B | -254.0M | 1.5B | -285.0M |
Cash Flow Trend
Boston Scientific Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
27.49
Forward P/E
17.29
Price to Book
4.02
Price to Sales
4.74
PEG Ratio
0.29
Profitability Ratios
Profit Margin
17.29%
Operating Margin
21.55%
Return on Equity
11.84%
Return on Assets
6.64%
Financial Health
Current Ratio
1.62
Debt to Equity
48.92
Beta
0.78
Per Share Data
EPS (TTM)
$2.39
Book Value per Share
$16.34
Revenue per Share
$13.91
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| BSX | 97.6B | 27.49 | 4.02 | 11.84% | 17.29% | 48.92 |
| Abbott Laboratories | 160.7B | 25.97 | 3.09 | 12.36% | 13.90% | 26.79 |
| Stryker | 126.3B | 39.21 | 5.62 | 15.08% | 12.92% | 72.97 |
| Medtronic plc | 107.6B | 23.47 | 2.20 | 9.39% | 13.00% | 57.06 |
| Edwards Lifesciences | 48.5B | 46.49 | 4.73 | 10.38% | 17.39% | 6.82 |
| Dexcom | 23.8B | 30.03 | 8.63 | 34.50% | 17.94% | 50.85 |
Financial data is updated regularly. All figures are in the company's reporting currency.






