BSX

MKT CAP:$93B

Boston Scientific Corporation

Market Cap

$93B

Healthcare·Medical - Devices·🇺🇸 United States·NYSE

Healthcare·Medical - Devices·🇺🇸·NYSE

Stock Price

$62.51-$32.20 (-34.00%)

Apr 24, 2026

Company Details

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The compan...

CEO

Michael F. Mahoney

IPO Date

May 19, 1992

Website

www.bostonscientific.com

Key Metrics TTM

Revenue

$20.6B

+19.9% YoY

Net Income

$3.6B

EPS (Diluted)

$2.38

Free Cash Flow

$3.6B

Revenue / Share

$13.79

Gross Margin

70.4%

Operating Margin

20.1%

Net Margin

17.2%

FCF Margin

17.6%

P/S

4.5x

P/E

26.2x

Earnings Reports

Q1 2026

Mar 30, 2026

$5.2B+11.6%EPS $0.90

FY 2025

Feb 17, 2026

$20.1B+19.9%EPS $1.94

Q4 2025

Feb 17, 2026

$5.3B+15.9%EPS $0.45

Q3 2025

Nov 3, 2025

$5.1BEPS $0.50

Q2 2025

Aug 1, 2025

$5.1B+22.8%EPS $0.53

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3.0B	$1.8B	$457M
Q2 22	$3.2B	$2.0B	$477M
Q3 22	$3.2B	$1.9B	$460M
Q4 22	$3.2B	$2.0B	$449M
Q1 23	$3.4B	$2.1B	$515M
Q2 23	$3.6B	$2.3B	$551M
Q3 23	$3.5B	$2.2B	$558M
Q4 23	$3.7B	$2.3B	$558M
Q1 24	$3.9B	$2.4B	$644M
Q2 24	$4.1B	$2.6B	$747M
Q4 24	$4.6B	$2.7B	$589M
Q1 25	$4.7B	$3.0B	$896M
Q2 25	$5.1B	$3.4B	$819M
Q3 25	$5.1B	$3.5B	$1.1B
Q4 25	$5.3B	$3.9B	$1.2B
Q1 26	$5.2B	$3.6B	$1.1B

Valuation

Quarter	P/S	P/E
Q1 22	5.4x	59.8x
Q2 22	4.4x	55.4x
Q3 22	4.6x	58.4x
Q4 22	5.2x	93.6x
Q1 23	5.5x	79.7x
Q2 23	5.9x	86.0x
Q3 23	5.6x	63.0x
Q4 23	6.0x	53.9x
Q1 24	6.8x	56.5x
Q2 24	7.4x	61.6x
Q4 24	8.1x	70.0x
Q1 25	8.7x	72.5x
Q2 25	8.6x	67.5x
Q3 25	7.4x	51.6x
Q4 25	7.1x	49.1x
Q1 26	4.5x	26.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$465M	$358M
Q1 22	-$58M	-$189M
Q2 22	$307M	$202M
Q3 22	$470M	$298M
Q4 22	$807M	$607M
Q1 23	$190M	$69M
Q2 23	$658M	$452M
Q3 23	$698M	$492M
Q4 23	$957M	$690M
Q1 24	$164M	-$81M
Q2 24	$813M	$658M
Q4 24	$1.5B	$1.2B
Q1 25	$541M	$354M
Q2 25	$1.3B	$1.1B
Q3 25	$1.3B	$1.2B
Q4 25	$1.4B	$1.0B

Capital Expenditures

Quarter	CapEx
Q3 21	$107M
Q1 22	$131M
Q2 22	$105M
Q3 22	$172M
Q4 22	$200M
Q1 23	$121M
Q2 23	$206M
Q3 23	$206M
Q4 23	$267M
Q1 24	$245M
Q2 24	$155M
Q4 24	$293M
Q1 25	$187M
Q2 25	$190M
Q3 25	$181M
Q4 25	$351M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+13.8%	+7.2%
Q2 22	+17.9%	+15.7%
Q3 22	+3.0%	+5.6%
Q4 22	+10.6%	+12.2%
Q1 23	+12.0%	+11.9%
Q2 23	+10.9%	+10.2%
Q3 23	+11.3%	+9.6%
Q4 23	+14.9%	+13.4%
Q1 24	+13.8%	+11.8%
Q2 24	+14.5%	+10.7%
Q4 24	+29.3%	+33.8%
Q1 25	+25.2%	+18.9%
Q2 25	+31.3%	+32.1%
Q3 25	+22.9%	+19.0%
Q4 25	+15.9%	+2.7%
Q1 26	+11.6%	+9.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$51M	1.7%
Q1 22	$52M	1.7%
Q2 22	$55M	1.7%
Q3 22	$58M	1.8%
Q4 22	$55M	1.7%
Q1 23	$55M	1.6%
Q2 23	$60M	1.7%
Q3 23	$59M	1.7%
Q4 23	$59M	1.6%
Q1 24	$63M	1.6%
Q2 24	$195M	4.7%
Q4 24	$69M	1.5%
Q1 25	$74M	1.6%
Q2 25	$75M	1.5%
Q3 25	$79M	1.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$319M	$1.1B
Q2 22	$335M	$1.2B
Q3 22	$339M	$1.1B
Q4 22	$330M	$1.2B
Q1 23	$337M	$1.2B
Q2 23	$359M	$1.4B
Q3 23	$356M	$1.2B
Q4 23	$363M	$1.4B
Q1 24	$366M	$1.4B
Q2 24	$383M	$1.4B
Q4 24	$460M	$1.6B
Q1 25	$443M	$1.6B
Q2 25	$526M	$1.7B
Q3 25	$514M	$1.7B
Q4 25	$569M	$1.8B
Q1 26	$516M	$1.8B

Revenue Segments

Quarter	Cardiovascular	Med Surg
Q1 22	$1.9B	$1.2B
Q2 22	$2.1B	$1.3B
Q3 22	$2.1B	$1.3B
Q1 23	$2.1B	$1.3B
Q2 23	$2.2B	$1.4B
Q3 23	$2.2B	$1.3B
Q4 23	$2.3B	$1.4B
Q1 24	$2.4B	$1.4B
Q2 24	$2.6B	$1.5B
Q4 24	$2.9B	$1.6B
Q1 25	$3.1B	$1.6B
Q2 25	$3.3B	$1.7B
Q3 25	$3.3B	$1.7B
Q4 25	$3.5B	$1.8B

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$1.2B	$1.8B
Q2 22	$1.3B	$1.9B
Q3 22	$1.2B	$1.9B
Q4 22	$1.3B	$2.0B
Q1 23	$1.4B	$2.0B
Q2 23	$1.5B	$2.1B
Q3 23	$1.4B	$2.1B
Q4 23	$1.5B	$2.2B
Q1 24	$1.6B	$2.3B
Q2 24	$1.7B	$2.5B
Q4 24	$1.7B	$2.9B
Q1 25	$1.7B	$3.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$325M	$0	$325M
Q2 22	$276M	$0	$276M
Q3 22	$338M	$0	$338M
Q4 22	$928M	$0	$928M
Q1 23	$570M	$0	$570M
Q2 23	$426M	$0	$426M
Q3 23	$952M	$0	$952M
Q4 23	$865M	$0	$865M
Q1 24	$2.3B	$0	$2.3B
Q2 24	$2.9B	$0	$2.9B
Q3 24	$2.5B	$0	$2.5B
Q4 24	$414M	$0	$414M
Q1 25	$725M	$0	$725M
Q2 25	$534M	$0	$534M
Q3 25	$1.3B	$0	$1.3B
Q4 25	$2.0B	$0	$2.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.44B	+0.2%	+0.5%
Q2 22	1.44B	-0.0%	+0.5%
Q3 22	1.44B	+0.2%	+0.5%
Q4 22	1.44B	+0.2%	+0.5%
Q1 23	1.45B	+0.2%	+0.5%
Q2 23	1.46B	+0.7%	+1.3%
Q3 23	1.48B	+1.3%	+2.4%
Q4 23	1.48B	+0.1%	+2.4%
Q1 24	1.48B	+0.3%	+2.5%
Q2 24	1.48B	+0.2%	+1.9%
Q4 24	1.49B	+0.4%	+1.0%
Q1 25	1.49B	+0.2%	+1.1%
Q2 25	1.49B	+0.0%	+0.8%
Q3 25	1.50B	+0.1%	+0.8%
Q4 25	1.50B	+0.0%	+0.4%
Q1 26	1.50B	-0.1%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$73.8K	41K
Q2 22	$79.1K	41K
Q3 22	$77.3K	41K
Q4 22	$72.0K	45K
Q1 23	$75.3K	45K
Q2 23	$80.0K	45K
Q3 23	$78.4K	45K
Q4 23	$77.6K	48K
Q1 24	$80.3K	48K
Q2 24	$85.8K	48K
Q4 24	$86.1K	53K
Q1 25	$88.0K	53K
Q2 25	$95.5K	53K
Q3 25	$95.6K	53K
Q4 25	$89.6K	59K
Q1 26	$88.2K	59K

Revenue / Employee