Boston Scientific

Health Care Health Care Equipment Marlborough, Massachusetts Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$20.1B
                    3y CAGR +16.5%
                    
                    P92
                    
                    +19.9%
                    
                    Net income
                    FY2025
                
$2.9B
                    Net margin +14.4%
                    
                    P59
                    
                    +56.7%
                    
                    Total assets
                    FY2025
                
$43.7B
                    ROA +6.6%
                    
                    P59
                    
                    +10.9%
                    
                    Operating cash flow
                    FY2025
                
$4.5B
                    FCF margin +18.2%
                    
                    P65
                    
                    +32.0%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $43.7B

Total liabilities ~$19.4B

Shareholders equity $24.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	4.5%	1.1%	2.5%	2.9%	6.0%	5.6%	0.7%	0.7%	1.0%	1.1%
Accounts Receivable	6.7%	6.5%	6.3%	6.1%	5.5%	5.0%	6.0%	7.7%	8.1%	8.1%
Inventory	6.7%	7.1%	7.1%	5.8%	5.0%	4.4%	5.2%	5.6%	5.7%	5.3%
Prepaid Expenses	2.2%	2.9%	2.7%	3.1%	3.1%	3.1%	3.5%	4.4%	4.9%	3.0%
Total Current Assets	20.1%	17.6%	18.5%	17.7%	19.6%	21.8%	15.4%	19.1%	20.1%	17.9%
Property,Plant and Equipment	9.2%	8.4%	8.1%	7.5%	7.0%	6.8%	6.8%	8.5%	8.9%	9.0%
Goodwill	41.9%	43.4%	40.9%	39.8%	37.2%	32.3%	33.3%	37.7%	36.8%	36.9%
Intangible Assets	16.1%	17.0%	17.1%	18.2%	19.0%	19.2%	25.8%	30.3%	30.7%	32.5%
Deferred Tax Assets	8.4%	9.3%	10.9%	12.1%	12.9%	13.7%	13.7%	—	—	—
Other Noncurrent Assets	4.3%	4.5%	4.4%	4.6%	4.4%	6.2%	5.0%	4.4%	3.6%	3.7%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	2.6%	2.4%	2.7%	2.7%	2.5%	1.7%	1.8%	1.7%	2.8%	2.5%
Accrued Liabilities	7.3%	7.0%	7.5%	6.7%	7.6%	7.1%	6.9%	10.7%	12.9%	12.8%
Current Portion of Long Term Debt	0.7%	4.5%	1.5%	0.1%	0.8%	0.0%	4.6%	10.7%	9.5%	0.4%
Other Current Liabilities	1.8%	2.3%	2.3%	2.3%	2.4%	3.1%	2.6%	2.0%	4.6%	4.2%
Total Current Liabilities	12.5%	16.2%	14.0%	11.7%	13.3%	12.0%	15.9%	25.0%	29.7%	19.8%
Long Term Debt	25.5%	22.8%	24.4%	27.5%	27.3%	29.7%	28.1%	22.9%	20.0%	30.0%
Deferred Tax Liabilities	0.5%	0.4%	0.4%	0.4%	1.0%	1.1%	1.9%	1.6%	1.0%	0.1%
Other Noncurrent Liabilities	5.5%	4.7%	5.6%	6.3%	6.9%	7.5%	8.6%	9.0%	12.4%	12.9%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—
Common Stock	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
Additional Paid In Capital	49.2%	53.4%	58.8%	62.5%	62.0%	64.1%	57.5%	82.6%	90.1%	94.0%
Retained Earnings	12.8%	6.8%	2.3%	-2.3%	-4.3%	-7.7%	-7.4%	-33.1%	-44.1%	-47.4%
Treasury Stock	5.2%	5.7%	6.4%	6.9%	7.0%	7.3%	5.6%	8.2%	9.0%	9.5%
Accumulated Other Comprehensive Income	-1.4%	0.7%	0.1%	0.8%	0.8%	—	0.6%	0.5%	0.0%	0.6%
Total Stockholders Equity	55.5%	55.3%	54.9%	54.1%	51.6%	49.8%	45.4%	41.6%	36.8%	37.2%
Noncontrolling Interest	0.5%	0.6%	0.7%	0.0%	—	—	—	—	—	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

20 accounts · 10 years

Revenue $20.1B

Operating income $3.6B

Net income $2.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	46.0%	42.5%	40.5%	39.1%	36.9%	32.2%	35.1%	46.8%	47.5%	46.3%
Expenses Cost of Revenue	14.2%	13.3%	12.4%	12.2%	11.5%	11.3%	10.2%	13.4%	13.6%	13.4%
Other Income Expense Gross Profit	31.7%	29.2%	28.2%	26.9%	25.4%	21.0%	24.9%	33.4%	33.9%	32.9%
Expenses Research and Development	4.7%	4.1%	4.0%	4.1%	3.7%	3.7%	3.8%	5.3%	5.2%	5.1%
Expenses Selling,General and Administrative	15.8%	15.2%	14.8%	13.9%	13.5%	12.3%	12.9%	17.0%	17.3%	17.1%
Expenses Depreciation and Amortization	2.1%	2.2%	2.4%	2.5%	2.3%	2.6%	2.3%	2.9%	3.0%	3.0%
Expenses Restructuring and Asset Impairment	0.3%	1.0%	0.4%	0.5%	1.3%	1.9%	0.5%	0.3%	0.2%	0.2%
Expenses Other Operating Expenses	0.6%	0.1%	-0.0%	0.9%	0.8%	0.7%	0.5%	0.7%	1.4%	5.0%
Expenses Operating Expenses	23.4%	22.6%	21.5%	21.8%	21.7%	21.2%	20.0%	26.2%	27.2%	30.5%
Other Income Expense Operating Income	8.3%	6.6%	6.7%	5.1%	3.7%	-0.3%	5.0%	7.2%	6.7%	2.5%
Other Income Expense Interest Expense	0.8%	0.8%	0.8%	1.4%	1.1%	1.2%	1.5%	1.1%	1.2%	1.3%
Other Income Expense Other Income/expense	0.3%	-0.0%	-0.3%	-0.1%	0.7%	1.2%	-1.2%	0.7%	-0.7%	-0.2%
Other Income Expense Income Before Tax	7.8%	5.8%	5.6%	3.5%	3.3%	-0.3%	2.2%	6.8%	4.9%	1.0%
Income Tax Income Tax Expense	1.1%	1.1%	1.1%	1.4%	0.1%	0.0%	-13.1%	-1.2%	4.3%	-0.9%
net Income Other Items Below Tax	0.0%	0.0%	-0.1%	-0.2%	-0.2%	-0.1%	0.0%	0.0%	—	—
net Income net Income	6.6%	4.7%	4.5%	2.1%	3.2%	-0.3%	15.4%	8.0%	0.5%	1.9%
net Income Comprehensive Income	4.6%	5.3%	3.9%	2.2%	3.4%	—	—	—	—	—
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.4%	3.8%	4.2%	4.4%	4.4%	4.6%	4.6%	6.7%	7.3%	7.6%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $4.5B

Investing cash flow $-2.6B

Financing cash flow $-395.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	6.6%	4.7%	4.5%	2.1%	3.2%	-0.3%	15.4%	8.0%	0.5%	1.9%
Operating Activities Depreciation and Amortization	3.5%	4.3%	3.6%	4.0%	4.6%	5.6%	3.8%	4.5%	4.5%	4.7%
Operating Activities Stock Based Compensation	0.7%	0.7%	0.7%	0.7%	0.6%	0.6%	0.5%	0.7%	0.7%	0.6%
Operating Activities Deferred Income Taxes	-0.0%	-0.2%	-0.0%	-0.2%	-0.4%	-0.3%	-14.1%	-0.4%	1.3%	-1.7%
Operating Activities Changes In Operating Assets and Liabilities	-0.6%	-1.2%	-2.2%	-3.1%	-1.1%	-0.1%	-1.0%	-10.3%	0.3%	1.1%
Operating Activities Other Non Cash Items	0.1%	0.4%	0.5%	1.2%	-1.2%	-0.6%	1.4%	-0.9%	0.1%	-0.2%
Operating Activities net Cash From Operating Activities	10.4%	8.7%	7.1%	4.7%	5.8%	4.9%	6.0%	1.5%	7.5%	6.5%
Investing Activities Capital Expenditures	-2.0%	-2.0%	-2.0%	-1.8%	-1.7%	-1.2%	-1.5%	-1.5%	-1.7%	-2.1%
Investing Activities Business Acquisitions	-4.2%	-12.5%	-5.4%	-4.8%	-6.1%	-0.5%	-14.8%	-6.9%	-2.9%	-2.3%
Investing Activities Other Investing Activities	0.2%	0.1%	0.1%	0.4%	2.9%	0.4%	-0.2%	0.1%	0.0%	0.2%
Investing Activities net Cash From Investing Activities	-6.0%	-14.4%	-7.3%	-6.2%	-5.0%	-1.3%	-16.5%	-9.1%	-5.3%	-4.9%
Financing Activities Proceeds From Debt	3.6%	5.4%	0.0%	10.1%	0.0%	19.0%	25.9%	12.2%	11.3%	3.5%
Financing Activities Repayment of Debt	-4.7%	-0.9%	-0.0%	-10.6%	0.0%	-22.2%	-16.8%	-5.5%	-10.7%	-4.5%
Financing Activities Proceeds From Stock Issuance	0.6%	0.6%	0.5%	0.4%	0.3%	6.7%	0.4%	0.5%	0.4%	0.6%
Financing Activities Tax Withholding On Stock Based Compensation	-0.3%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%	-0.3%	-0.3%	-0.3%
Financing Activities Other Financing Activities	-0.1%	-0.3%	-0.3%	-1.3%	-0.3%	-0.5%	0.4%	-0.1%	-0.2%	-0.4%
Financing Activities net Cash From Financing Activities	-0.9%	4.6%	0.0%	-1.7%	-0.3%	1.0%	9.7%	6.8%	0.6%	-1.1%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	0.0%	-0.0%	0.0%	-0.0%
Cash Reconciliation net Change In Cash	3.5%	-1.1%	-0.2%	-3.2%	0.5%	4.5%	-0.7%	-0.9%	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+69.0%	+68.6%	+69.5%	+68.8%	+68.8%	+65.0%	+71.0%	+71.4%	+71.3%	+71.1%
Operating margin	+18.0%	+15.5%	+16.5%	+13.0%	+10.1%	-0.8%	+14.1%	+15.3%	+14.2%	+5.3%
Net margin	+14.4%	+11.0%	+11.2%	+5.5%	+8.8%	-0.8%	+43.8%	+17.0%	+1.1%	+4.1%
FCF margin	+18.2%	+15.8%	+12.6%	+7.4%	+11.1%	+11.4%	+12.8%	-0.1%	+12.2%	+9.6%
Growth
Revenue CAGR (3y)	+16.5%	+12.1%	+12.8%	+5.7%	+6.6%	+3.1%	+8.6%	+9.5%	+7.0%	+5.5%
Returns
ROE	+11.9%	+8.5%	+8.3%	+4.0%	+6.3%	-0.5%	+33.9%	+19.1%	+1.5%	+5.2%
ROA	+6.6%	+4.7%	+4.5%	+2.1%	+3.2%	-0.3%	+15.4%	+8.0%	+0.5%	+1.9%
ROIC	+9.2%	+6.6%	+6.8%	+3.9%	+4.9%	-0.4%	+6.4%	+9.6%	+1.2%	+3.7%
Liquidity
Current ratio	1.62x	1.08x	1.32x	1.51x	1.48x	1.82x	0.97x	0.76x	0.68x	0.90x
Quick ratio	0.90x	0.46x	0.63x	0.76x	0.87x	0.89x	0.42x	0.33x	0.31x	0.47x
Leverage
D/E	0.80x	0.81x	0.82x	0.85x	0.94x	1.01x	1.20x	1.41x	1.72x	1.69x
Interest coverage	10.35x	8.53x	8.84x	3.51x	3.52x	-0.22x	3.21x	6.25x	5.61x	1.92x
Efficiency
Asset turnover	0.46x	0.43x	0.41x	0.39x	0.37x	0.32x	0.35x	0.47x	0.48x	0.46x
Cash conversion cycle	+159d	+184d	+187d	+149d	+135d	+145d	+184d	+166d	+140d	+141d

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Boston Scientific

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