Boston Scientific Corp

Health Care
Medical/Dental Instruments
www.bostonscientific.com

Earnings Score
Moat Score
Safety Score

Market Cap $130.44B
PE 73
Debt $10.89B
Cash $2.65B
EV $138.68B
FCF $2.16B

Earnings

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Sales & Net Margins

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Earnings	$1.79B
EBIT	$2.51B
ROE	9%
ROA	7%
FCF	$2.16B
Equity	$20.96B
Growth Stability	-5%
PE	72.91
PEG	-5.57
PB	6.22
P/FCF	60.5
P/S	8.2
Price/Cash	0.02
Debt/Equity	0.52
Debt/FCF	5.05
Net Margins	11%
Gross Margins	69%
Op. Margins	16%
Earnings CAGR	18%
Sales Growth YoY	19%
Sales Growth QoQ	2%
Sales CAGR	7%
FCF CAGR	15%
Equity CAGR	16%
Earnings Stability	0.16
Earnings Growth YoY	-7%
Earnings Growth QoQ	46%
Earnings CAGR 5Y	-13%

Sales CAGR 5Y	10%
FCF CAGR 5Y	10%
Equity CAGR 5Y	8%
Earnings CAGR 3Y	11%
Sales CAGR 3Y	11%
FCF CAGR 3Y	46%
Equity CAGR 3Y	9%
Market Cap	$130.44B
Revenue	$15.91B
Dividend Yield	0%
Payout Ratio	0%
Assets	$38.08B
Total Debt	$10.89B
Cash	$2.65B
Shares Outstanding	1.47B
EV	138.68B
Earnings Score	10%
Moat Score	85%
Safety Score	55%
Final Score	50%
Working Capital	2.85B
Current Ratio	1.48
Gross Profit	$10.97B
Shares Growth 3y	1%
Equity Growth QoQ	2%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, cardiac rhythm management, catheter-directed ultrasound imaging, structural heart disease, upper gastrointestinal tract diagnostics, interventional oncology, and treatment of incontinence. The firm markets its devices to healthcare professionals and institutions globally. Foreign sales account for nearly half of the firm's total sales.

SEC Filings

Direct access to Boston Scientific Corp (BSX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Boston Scientific Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Boston Scientific Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 18%

Stability 16%

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Boston Scientific Corp Discounted Cash Flow

Fully customizable DCF calculator online for Boston Scientific Corp.

Years

Calculation mode

= $59B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.2B	$2.5B	$2.8B	$3.2B	$3.7B	$4.2B	$4.9B	$5.6B	$6.4B	$7.3B	$8.4B	$84B
DCF		$2.2B	$2.3B	$2.4B	$2.5B	$2.6B	$2.7B	$2.9B	$3B	$3.1B	$3.2B	$32B
Value	$59B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-2%	-3%	4%	1%	17%	44%	-1%	8%	5%	11%	11%
ROA	-	-2%	2%	7%	7%	5%	-0%	4%	5%	7%	7%
ROE	-	-4%	5%	1%	19%	34%	-1%	6%	4%	8%	9%

Good Net Margins (10.54%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	16.08	9.51	5.07	-1.18K	7.28	8.08	6.89	9.53	5.08	5.05
Debt over Equity	0.71	0.9	0.84	0.8	0.81	0.72	0.6	0.55	0.51	0.47	0.52
Growth Stability	-	-	-	-	100%	100%	-5%	47%	35%	100%	-5%

Bad Debt/FCF ratio (5.05)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.52)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-5%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	8%	12%	-0%	9%	9%	-8%	20%	7%	12%	10%
Earnings YoY growth	-	101%	-245%	-70%	2K%	181%	-102%	-957%	-35%	145%	-13%
Equity YoY growth	-	-2%	7%	4%	24%	59%	10%	8%	6%	11%	8%
FCF YoY growth	-	-65%	69%	86%	-101%	-23K%	-18%	16%	-29%	91%	10%