BSX
BOSTON SCIENTIFIC CORP
Healthcare • CIK: 0000885725
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Market Cap
$144.32B
P/E (TTM)
51.7x
Rev Growth (TTM)
+21.6%
Net Margin (TTM)
14.4%
FCF Yield (TTM)
2.6%
FCF Margin (TTM)
19.8%
Cash Flow Health
Free Cash Flow7/8 positive
TTM$3.8B
Q3 '25
$1.2B+3%
Q2 '25
$1.1B+219%
FCF Margin
TTM19.8%
Q3 '2522.9%+3%
Sector: 5.8%Top 25%
OCF Margin23.9%
OCF/NI1.66x
CapEx Coverage5.8x
FCF Yield2.6%
FCF Growth (2Y)+90%
Cash Conversion Cycle
112 days
DSO: 0+DIO: 171−DPO: 58
Capital Allocation & Returns
Total Shareholder Yield
TTM0.0%
Div Yield0.0%
Insufficient data
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$3.8B
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
9.1%
Stable
+0.3% YoY+1.2%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
15.2%
8Q: 14.2%
Asset Turnover
0.48x
8Q: 0.46x
Leverage (1+D/E)
1.50x
D/E: 0.50x
DuPont: 10.9% ≈ 9.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.70x
8Q:5.59x
+16.0%
Invested Cap Turn
0.60x
8Q:0.59x
+5.5%
CapEx Intensity
2.5%
8Q:2.4%
CapEx/Depreciation
0.59x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $19.4B | $5.1B↑0.1% | $5.1B↑8.5% | $4.7B↑2.2% | $4.6B↑8.4% | $4.2B↑2.2% | $4.1B↑6.8% | $3.9B↑3.5% | $3.7B |
Operating Income | $3.5B | $1.0B↑28.0% | $819.0M↓11.1% | $921.0M↑36.4% | $675.0M↓7.9% | $733.0M↑41.0% | $520.0M↓23.0% | $675.0M↑15.6% | $584.0M |
Net Income | $2.8B | $755.0M↓5.3% | $797.0M↑18.2% | $674.0M↑19.3% | $565.0M↑20.5% | $469.0M↑44.8% | $324.0M↓34.5% | $495.0M↓2.0% | $505.0M |
Operating Cash Flow | $4.6B | $1.3B↑4.4% | $1.3B↑137.7% | $541.0M↓62.8% | $1.5B↑45.3% | $1.0B↑23.2% | $813.0M↑395.7% | $164.0M↓82.9% | $957.0M |
Free Cash Flow | $3.8B | $1.2B↑2.9% | $1.1B↑218.9% | $354.0M↓70.0% | $1.2B↑43.3% | $823.0M↑25.1% | $658.0M↑4486.7% | $-15.0M↓102.2% | $690.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
51.7x
Valuation Lenses
Earnings
51.7x
vs – sector
Cash Flow
42.1x
EV/FCF vs –
Growth-Adj
0.9xPEG
Undervalued for growth
Quality-Adj
5.6P/E per %ROIC
ROIC: 9.1%
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$144.32B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
79/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
12.6%
8Q:–
Return on Invested Capital (ROIC)Top 25%
9.1%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 15.2%
Asset Turnover: 0.48x
Earnings Quality
Cash Conversion
1.66x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin68.6%
Capital Efficiency
Invested Capital Turnover0.60x
Working Capital
Cash Conversion Cycle112 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
80/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
21.6%
OpInc Growth YoY
43.0%
EPS Growth YoY
54.5%
FCF 3Y CAGR
90.3%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 8.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
68.6%
Operating
17.9%
Above Avg in sector
Net
14.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+5.3 pts
FCF: 19.8% | Net: 14.4%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $10.12B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.50x
Balance sheet risk & solvency analysis