BSX

Boston Scientific
D

BSX

Arincen84/100B

Boston Scientific financials

Yes. Boston Scientific earned 3.49B USD of net income over the last twelve months, 16.6% of its revenue. It made a profit in 23 of its 35 fiscal years since 1991. Its last loss was in fiscal year 2020.

Revenue (TTM)
21.07B USD
Net income (TTM)
3.49B USD
Free cash flow (TTM)
3.33B USD
Cash and short-term investments
609.00M USD
Total debt
11.95B USD
Shareholders' equity
25.63B USD

Cash, debt and equity as of 30 Sept 2026.

Boston Scientific earnings

Next earnings · Q4 FY2026
EPS estimate
0.78 USD
Revenue estimate
5.18B USD
Last quarter · Q3 FY2026
EPS0.73Beat +0.4%Revenue5.14BBeat +1.0%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20270.77——+5.39%5.13B——-0.24%
Q2 FY20270.80——-7.32%5.29B——-2.88%
Q1 FY20270.75——-6.71%5.06B——-2.72%
Q4 FY20260.78——-2.50%5.18B——-2.01%
Q3 FY20260.730.73+0.41%-2.67%5.09B5.14B+0.99%+1.44%
Q2 FY20260.840.86+2.99%+14.67%5.38B5.44B+1.25%+7.53%
Q1 FY20260.790.80+1.52%+6.67%5.17B5.20B+0.58%+11.58%
Q4 FY20250.780.80+2.43%+14.29%5.28B5.29B+0.12%+15.90%
Q3 FY20250.710.75+5.04%+19.05%4.97B5.07B+1.93%+20.34%
Q2 FY20250.730.75+3.45%+20.97%4.89B5.06B+3.43%+22.84%

Boston Scientific growth and profitability

Full income statement
Revenue (TTM)
21.07B USD
Net income (TTM)
3.49B USD
Gross margin
70.37%
Operating margin
21.05%
Net margin
16.56%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202520.07B+19.87%2.89B+55.66%69.01%19.78%14.38%5.10B+29.56%
FY202416.75B+17.61%1.85B+16.38%61.31%15.73%11.07%3.94B+14.05%
FY202314.24B+12.29%1.59B+128.22%62.02%15.32%11.19%3.45B+25.98%
FY202212.68B+6.68%698.00M-32.88%60.83%14.38%5.50%2.74B+8.86%
FY202111.89B+19.92%1.04B—62.76%16.17%8.75%2.52B+66.53%

How Boston Scientific makes its money

Cardiovascular13.27B 66.1%
MedSurg6.83B 34.0%
Revenue20.07B 100.0%
Cost of revenue6.22B 31.0%
Gross profit13.85B 69.0%
Research and development2.05B 10.2%
Selling and administration6.89B 34.3%
Other operating expenses943.00M 4.7%
Operating income3.97B 19.8%
Tax493.00M 2.5%
Other expense592.00M 2.9%
Net income2.89B 14.4%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Boston Scientific revenue breakdown

By product

FY2025
Cardiovascular: 66.0%MedSurg: 34.0%66.0%Cardiovascular34.0%MedSurg
SegmentRevenueShare of revenueChange on the year
Cardiovascular13.27B66.0%+23.3%
MedSurg6.83B34.0%+13.9%

By region

FY2025
United States: 64.1%Non-US: 35.9%64.1%United States35.9%Non-US
RegionRevenueShare of revenueChange on the year
United States12.86B64.1%+26.0%
Non-US7.21B35.9%+10.3%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20254.53B3.66B
FY20243.44B2.65B
FY20232.50B1.79B
FY20221.53B938.00M
FY20211.87B1.32B
FY20201.51B1.13B
FY20191.84B1.38B
FY2018310.00M-6.00M
FY20171.43B1.11B
FY2016972.00M596.00M

Boston Scientific financial health

Full balance sheet
Cash and short-term investments
609.00M USD
Total debt
11.95B USD
Net cash
-11.34B USD
Free cash flow (TTM)
3.33B USD
Current ratio
1.36
Debt to equity
0.47
Piotroski score
6 / 9
Altman Z-score
3.08

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20252.05B11.85B3.66B
FY2024414.00M11.15B2.65B
FY2023865.00M9.49B1.79B
FY2022928.00M9.28B938.00M
FY20211.93B9.45B1.32B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY202543.67B19.20B24.23B
FY202439.40B17.39B21.77B
FY202335.14B15.61B19.28B
FY202232.47B14.90B17.57B
FY202132.23B15.61B16.62B
FY202030.78B15.45B15.33B
FY201930.57B16.69B13.88B
FY201821.00B12.27B8.73B
FY201719.04B12.03B7.01B
FY201618.10B11.36B6.73B

Boston Scientific valuation

Price to earnings ratio (TTM)
18.73
Forward P/E (FY2026)
14.03
Price to sales (TTM)
3.05
Price to book
2.51
EV / EBITDA (TTM)
13.98

Capital structure

Market capitalization
64.33B USD
+
Total debt
11.95B USD
−
Cash and short-term investments
609.00M USD
=
Enterprise value
75.67B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)13.23————
FY2027 (est.)14.2113.23———
FY2026 (est.)14.0314.21———
Now (TTM)18.7314.193.052.5113.98
FY202548.6523.477.035.8229.70
FY202470.8923.477.856.0436.10
FY202353.5023.475.904.3626.82
FY2022103.1023.035.223.7727.20
FY202161.3424.495.083.6326.98

Boston Scientific against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Edwards Lifesciences, GE HealthCare Technologies, Stryker, DexCom, Abbott Laboratories, and Zimmer Biomet Holdings, the US Medical - Devices companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Below its median18.7
    18.0117.7
  • Gross marginHighest in 5 years69.0%
    60.8%69.0%
    Against its peers: 2 of 7Peers' median 60.9%
  • Operating marginHighest in 5 years19.8%
    14.4%19.8%
    Against its peers: 2 of 7Peers' median 18.8%
  • Net marginHighest in 5 years14.4%
    5.5%14.4%
    Against its peers: 4 of 7Peers' median 13.8%
  • Return on equityHighest in 5 years11.9%
    4.0%11.9%
    Against its peers: 5 of 7Peers' median 13.5%
  • Free cash flow marginHighest in 5 years18.2%
    7.4%18.2%
    Against its peers: 3 of 7Peers' median 17.5%
  • Revenue growthAbove its median19.9%
    6.7%19.9%
    Against its peers: 1 of 7Peers' median 9.2%
  • EPS growthAbove its median55.2%
    -35.1%140.6%
    Against its peers: 1 of 7Peers' median -7.5%
  • Debt to EBITDALowest in 5 years2.32×
    2.32×3.75×
    Against its peers: 4 of 7Peers' median 1.93×
  • Current ratioHighest in 5 years1.62
    1.081.62
    Against its peers: 5 of 7Peers' median 1.89

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Boston Scientific ownership

Institutions
90.62%
Institutional holders
1,580 (-191)
Free float
99.35%

Who owns the shares

Institutions 90.6% Others 9.4%
As of 30 Jun 2026

Shares free to trade

Free float 1.44B shares ·99.3% Closely held 9.45M shares ·0.7%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 202600256.11K5.74K
Q3 202660298.98K4.84K
Q2 20264054.44K392.54K
Q1 2026021.03M603.90K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY20251.48B1.49B+0.58%
FY20241.47B1.49B+1.53%
FY20231.45B1.46B+1.65%
FY20221.43B1.44B+0.41%
FY20211.42B1.43B+1.21%

Common questions about Boston Scientific's financials

Source: Financial Modeling Prep