Overview
BOSTON SCIENTIFIC CORP
Latest 10-K: FY2025, filed Feb 17, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $20.07B
- 19.9%YoYup from FY2024
- TotalRevenue
- Gross profit
- $13.85B
- 20.6%YoYup from FY2024
- GrossProfit
- Operating income
- $3.61B
- 38.8%YoYup from FY2024
- OperatingIncome
- Net income
- $2.90B
- 56.4%YoYup from FY2024
- NetIncome
- Diluted EPS
- $1.94
- 55.2%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 1.49B
- 0.6%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- BOSTON SCIENTIFIC CORP reported revenue of $20.07B for fiscal 2025, up 19.9% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 18.0% and net margin was 14.4%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $1.94, up 55.2% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 23, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $20.07B19.9%up S&P 500 6.4% | $16.75B17.6%up S&P 500 4.5% | $14.24B12.3%up S&P 500 4.8% | $12.68B6.7%up S&P 500 10.3% | $11.89B19.9%up S&P 500 13.8% | 14.0% S&P 500 6.6% |
| Gross Profit Median of 315 / 498 | $13.85B20.6%up S&P 500 6.8% | $11.49B16.1%up S&P 500 5.5% | $9.90B13.4%up S&P 500 5.2% | $8.73B6.7%up S&P 500 8.3% | $8.18B26.8%up S&P 500 15.7% | 14.1% S&P 500 6.2% |
| Operating Income Median of 373 / 498 | $3.61B38.8%up S&P 500 7.3% | $2.60B11.1%up S&P 500 7.4% | $2.34B42.1%up S&P 500 4.9% | $1.65B37.5%up S&P 500 7.5% | $1.20Bn/m S&P 500 23.5% | 31.8% S&P 500 7.2% |
| Net Income | $2.90B§56.4%up S&P 500 4.8% | $1.85B§18.0%up S&P 500 5.7% | $1.57B§144.5%up S&P 500 1.9% | $0.64B§34.8%down S&P 500 1.3% | $0.98B§n/m S&P 500 33.9% | 31.0% S&P 500 4.1% |
| EPS (Diluted) | $1.9455.2%up S&P 500 6.2% | $1.2516.8%up S&P 500 7.9% | $1.07137.8%up S&P 500 1.9% | $0.4534.8%down S&P 500 1.5% | $0.69n/m S&P 500 34.8% | 29.5% S&P 500 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $43.67B10.9%up S&P 500 5.6% | $39.40B12.1%up S&P 500 3.4% | $35.14B8.2%up S&P 500 4.1% | $32.47B0.7%up S&P 500 2.2% | $32.23B4.7%up S&P 500 6.7% | 7.9% S&P 500 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — S&P 500 4.4% |
| Stockholders' Equity | $24.47B11.2%up S&P 500 6.8% | $22.00B12.7%up S&P 500 5.4% | $19.53B11.1%up S&P 500 7.3% | $17.57B5.7%up S&P 500 2.5% | $16.62B8.5%up S&P 500 9.0% | 10.2% S&P 500 6.1% |
| Cash & Equivalents | $1.97B374.6%up S&P 500 5.2% | $0.41B52.1%down S&P 500 1.9% | $0.86B6.8%down S&P 500 6.7% | $0.93B51.8%down S&P 500 -8.6% | $1.93B11.0%up S&P 500 -2.9% | 0.5% S&P 500 2.0% |
| Total Debt Median of 393 / 498 | $11.44B†6.4%up S&P 500 2.3% | $10.75B18.1%up S&P 500 0.1% | $9.10B1.9%up S&P 500 0.1% | $8.94B1.4%down S&P 500 0.1% | $9.06B0.9%down S&P 500 0.0% | 6.0% S&P 500 3.7% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.53B32.0%up S&P 500 6.3% | $3.44B37.2%up S&P 500 4.8% | $2.50B64.0%up S&P 500 9.9% | $1.53B18.4%down S&P 500 -0.7% | $1.87B24.0%up S&P 500 10.7% | 24.8% S&P 500 7.0% |
| Capital Expenditures | $876.00M10.9%up S&P 500 5.4% | $790.00M11.1%up S&P 500 2.8% | $711.00M20.9%up S&P 500 11.3% | $588.00M6.1%up S&P 500 14.0% | $554.00M47.3%up S&P 500 8.1% | 12.1% S&P 500 9.0% |
| Free Cash Flow Median of 378 / 498 | $3.66B38.3%up S&P 500 7.3% | $2.65B47.6%up S&P 500 6.1% | $1.79B91.0%up S&P 500 8.8% | $0.94B28.7%down S&P 500 -11.3% | $1.32B16.3%up S&P 500 10.2% | 29.1% S&P 500 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
2.0%
Wall Street
on net earnings
FY2024 1.4%
2.6%
Value investor
on free cash flow
FY2024 2.0%
Gap +0.6 pts: Value-investor figure 0.6 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 49.1×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
3.3%
Wall Street
on EBITDA
FY2024 2.7%
2.4%
Value investor
on EBIT
FY2024 1.8%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 30.5×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
17.2%
Wall Street
on book equity
FY2024 16.6%
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 5.8×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
12.5%
Wall Street
ROE: net income ÷ equity
FY2024 8.9%
8.5%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 6.5%
Gap −4.0 pts: Value-investor figure 4.0 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
24.8%
Wall Street
EBITDA margin
FY2024 23.1%
18.2%
Value investor
Free-cash-flow margin
FY2024 15.8%
Gap −6.6 pts: Value-investor figure 6.6 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.62×
Wall Street
Current ratio
FY2024 1.08×
1.08×
Value investor
Quick ratio, inventory excluded
FY2024 0.64×
Gap −0.54×: Value-investor figure 0.54 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.44×
Wall Street
EBITDA ÷ total debt
FY2024 0.36×
0.32×
Value investor
FCF ÷ total debt
FY2024 0.25×
Gap −0.12×: Value-investor figure 0.12 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 1.90×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
14.3×
Wall Street
EBITDA ÷ interest
FY2024 12.7×
10.4×
Value investor
EBIT ÷ interest
FY2024 8.5×
Gap −3.9×: Value-investor figure 3.9 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on BSX yet.
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Cite this page
Data as of Oct 23, 2026. Canonical address: https://valuein.biz/data/BSX
Valuein. (2026, October 23). BOSTON SCIENTIFIC CORP (BSX) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/BSX
@misc{valuein_bsx_2026,
author = {{Valuein}},
title = {BOSTON SCIENTIFIC CORP (BSX) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/BSX}},
note = {Data as of 2026-10-23; source: SEC EDGAR filings}
}10-K filed Feb 17, 2026 · accession 0000885725-26-000010
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing