Boston Scientific Corporation (BSX) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Devices
EV/EBITDA
↑
20.81
↓-32% vs avg
5yr avg: 30.67
30Y Low6.6·High41.0
P/FCF
↓
18.40
↓-64% vs avg
5yr avg: 51.60
30Y Low7.8·High72.9
P/B Ratio
↑
2.77
↓-42% vs avg
5yr avg: 4.73
30Y Low0.7·High13.0
ROE
↑
12.4%
↓+53% vs avg
5yr avg: 8.1%
30Y Low-45%·High42%
Debt/EBITDA
↑
3.33
+9% vs avg
5yr avg: 3.05
30Y Low0.7·High5.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BSX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Boston Scientific Corporation trades at 23.3x earnings, 66% below its 5-year average of 68.0x, sitting at the 18th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 6%. On a free-cash-flow basis, the stock trades at 18.4x P/FCF, 64% below the 5-year average of 51.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $67.3B | $142.5B | $132.7B | $84.6B | $66.6B | $60.9B | $50.9B | $63.8B | $49.5B | $34.5B | $29.8B |
| Enterprise Value | $77.7B | $152.9B | $143.5B | $93.2B | $75.0B | $68.4B | $58.7B | $73.8B | $56.4B | $39.9B | $35.1B |
| P/E Ratio → | 23.35 | 49.15 | 71.46 | 53.89 | 103.77 | 61.83 | — | 13.57 | 29.70 | 331.86 | 86.52 |
| P/S Ratio | 3.35 | 7.10 | 7.93 | 5.94 | 5.25 | 5.12 | 5.14 | 5.94 | 5.04 | 3.82 | 3.55 |
| P/B Ratio | 2.77 | 5.82 | 6.03 | 4.33 | 3.79 | 3.66 | 3.32 | 4.60 | 5.68 | 4.92 | 4.42 |
| P/FCF | 18.40 | 38.96 | 50.18 | 49.68 | 72.88 | 46.28 | 44.99 | 46.39 | — | 31.19 | 49.98 |
| P/OCF | 14.85 | 31.43 | 38.64 | 33.80 | 43.65 | 32.57 | 33.77 | 34.74 | 159.76 | 24.21 | 30.65 |
P/E links to full P/E history page with 30-year chart
BSX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Boston Scientific Corporation's enterprise value stands at 20.8x EBITDA, 32% below its 5-year average of 30.7x. The Healthcare sector median is 14.2x, placing the stock at a 46% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.62 | 8.57 | 6.55 | 5.91 | 5.76 | 5.93 | 6.88 | 5.74 | 4.41 | 4.18 |
| EV / EBITDA | 20.81 | 40.95 | 36.75 | 27.61 | 25.33 | 22.70 | 34.09 | 27.13 | 21.44 | 16.85 | 17.10 |
| EV / EBIT | 19.56 | 40.95 | 53.75 | 41.31 | 46.71 | 48.02 | 150.99 | 61.54 | 33.36 | 34.32 | 85.35 |
| EV / FCF | — | 41.79 | 54.24 | 54.75 | 82.02 | 52.00 | 51.89 | 53.71 | — | 36.06 | 58.85 |
BSX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Boston Scientific Corporation earns an operating margin of 19.8%. Operating margins have expanded from 15.3% to 19.8% over the past 3 years, signaling improving operational efficiency. ROE of 12.4% is modest. ROIC of 8.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.0% | 69.0% | 61.3% | 62.0% | 60.8% | 62.8% | 56.2% | 64.1% | 65.9% | 64.9% | 63.7% |
| Operating Margin | 19.8% | 19.8% | 15.7% | 15.3% | 14.4% | 16.2% | 6.1% | 15.9% | 17.7% | 16.9% | 14.7% |
| Net Profit Margin | 14.4% | 14.4% | 11.1% | 11.2% | 5.5% | 8.7% | -0.8% | 43.8% | 17.0% | 1.1% | 4.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.4% | 12.4% | 8.9% | 8.6% | 4.1% | 6.5% | -0.6% | 41.6% | 21.2% | 1.5% | 5.3% |
| ROA | 6.9% | 6.9% | 5.0% | 4.7% | 2.2% | 3.3% | -0.3% | 18.2% | 8.3% | 0.6% | 1.9% |
| ROIC | 8.8% | 8.8% | 6.5% | 6.0% | 5.5% | 6.1% | 1.9% | 6.5% | 9.3% | 9.4% | 7.8% |
| ROCE | 11.1% | 11.1% | 8.3% | 7.4% | 6.4% | 7.0% | 2.3% | 8.3% | 11.9% | 10.9% | 8.2% |
BSX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Boston Scientific Corporation carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (roughly in line with the sector average of 3.2x). Net debt stands at $10.4B ($12.4B total debt minus $2.0B cash). Interest coverage of 10.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.51 | 0.51 | 0.51 | 0.49 | 0.53 | 0.57 | 0.62 | 0.74 | 0.81 | 0.80 | 0.81 |
| Debt / EBITDA | 3.33 | 3.33 | 2.86 | 2.81 | 3.14 | 3.13 | 5.54 | 3.78 | 2.67 | 2.35 | 2.67 |
| Net Debt / Equity | — | 0.42 | 0.49 | 0.44 | 0.48 | 0.45 | 0.51 | 0.72 | 0.79 | 0.77 | 0.79 |
| Net Debt / EBITDA | 2.78 | 2.78 | 2.75 | 2.55 | 2.82 | 2.50 | 4.53 | 3.70 | 2.62 | 2.28 | 2.58 |
| Debt / FCF | — | 2.84 | 4.06 | 5.07 | 9.14 | 5.72 | 6.89 | 7.32 | — | 4.87 | 8.87 |
| Interest Coverage | 10.70 | 10.70 | 6.90 | 8.30 | 3.46 | 4.08 | 0.83 | 2.34 | 6.29 | 5.06 | 1.76 |
BSX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.62x means Boston Scientific Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.08x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.32x to 1.62x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.62 | 1.62 | 1.08 | 1.32 | 1.51 | 1.48 | 1.82 | 0.97 | 0.76 | 0.68 | 0.90 |
| Quick Ratio | 1.08 | 1.08 | 0.64 | 0.82 | 1.02 | 1.10 | 1.45 | 0.64 | 0.54 | 0.49 | 0.64 |
| Cash Ratio | 0.38 | 0.38 | 0.06 | 0.18 | 0.24 | 0.45 | 0.47 | 0.04 | 0.03 | 0.03 | 0.05 |
| Asset Turnover | — | 0.46 | 0.43 | 0.41 | 0.39 | 0.37 | 0.32 | 0.35 | 0.47 | 0.48 | 0.46 |
| Inventory Turnover | 2.11 | 2.11 | 2.31 | 2.18 | 2.66 | 2.75 | 3.21 | 2.44 | 2.87 | 2.95 | 3.19 |
| Days Sales Outstanding | — | 53.20 | 55.75 | 57.11 | 56.70 | 54.59 | 56.37 | 62.15 | 59.75 | 62.45 | 64.07 |
BSX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Boston Scientific Corporation does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 4.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 0.0% | 0.1% | 0.1% | 0.1% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.3% | 2.0% | 1.4% | 1.9% | 1.0% | 1.6% | — | 7.4% | 3.4% | 0.3% | 1.2% |
| FCF Yield | 5.4% | 2.6% | 2.0% | 2.0% | 1.4% | 2.2% | 2.2% | 2.2% | — | 3.2% | 2.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.1% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $1.5B | $1.5B | $1.5B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B |
Peer Comparison
Compare BSX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BSXYou | $67B | 23.3 | 20.8 | 18.4 | 69.0% | 19.8% | 12.4% | 8.8% | 3.3 |
 MDT | $102B | 22.0 | 14.5 | 19.6 | 65.3% | 17.8% | 9.4% | 6.0% | 3.2 |
 EW | $50B | 47.7 | 26.8 | 37.7 | 78.1% | 27.0% | 10.5% | 15.5% | 0.4 |
 SYK | $118B | 36.6 | 21.2 | 27.5 | 64.0% | 19.5% | 15.1% | 11.4% | 2.4 |
 ZBH | $17B | 24.8 | 9.8 | 11.7 | 61.6% | 16.5% | 5.6% | 5.4% | 3.1 |
 BDX | $52B | 24.7 | 14.0 | 19.5 | 45.4% | 11.8% | 6.5% | 4.3% | 3.8 |
 BAX | $10B | -11.4 | 27.2 | 31.8 | 30.1% | -2.7% | -14.6% | -1.4% | 14.9 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 ABT | $154B | 11.6 | 16.1 | 24.2 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 ISRG | $144B | 51.7 | 39.0 | 58.0 | 66.0% | 29.3% | 16.6% | 15.0% | 0.1 |
 NVCR | $2B | -11.7 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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BSX — Frequently Asked Questions
Quick answers to the most common questions about buying BSX stock.
What is Boston Scientific Corporation's P/E ratio?
Boston Scientific Corporation's current P/E ratio is 23.3x. The historical average is 49.5x. This places it at the 18th percentile of its historical range.
What is Boston Scientific Corporation's EV/EBITDA?
Boston Scientific Corporation's current EV/EBITDA is 20.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.5x.
What is Boston Scientific Corporation's ROE?
Boston Scientific Corporation's return on equity (ROE) is 12.4%. The historical average is 4.1%.
Is BSX stock overvalued?
Based on historical data, Boston Scientific Corporation is trading at a P/E of 23.3x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Boston Scientific Corporation's profit margins?
Boston Scientific Corporation has 69.0% gross margin and 19.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Boston Scientific Corporation have?
Boston Scientific Corporation's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.