Health Care · Health Care Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$44.39
52-week range
$41.39 – $105.65
Market cap
$65.5B
P/E (trailing)
18.0×
EV / EBITDA
13.9×
Free-cash-flow yield
5.5%
Dividend yield
–
Revenue (last 12 months)
$21.0B
Revenue growth (3y a year)
16.5%
Operating margin
19.8%
Return on invested capital
10.1%
Net debt / EBITDA
2.2×
Fair value
Blended fair value$48.47 range $45 – $52
Versus priceFair+9% to fair value
Peer multiples
$34.49
Fundamentals-adjusted multiple
$45.40
10-year DCF (market-scaled)
$65.52
Earnings power value (floor, not blended)
$13.27
Model uncertainty
High
X-Ray Score
63/ 100 · High confidence · ahead of 78% of sector peers
Valuation68
Growth89
Profitability45
Financial health55
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Boston Scientific develops, manufactures and sells medical devices used in minimally invasive procedures. Its products treat heart rhythm disorders, blocked arteries, structural heart conditions, kidney stones, digestive and pelvic disorders, and chronic pain. It sells mainly to hospitals and physicians through a direct sales force worldwide. Revenue comes from device sales, many of which are single-use items used repeatedly in procedures, and from related equipment and services.
Revenue over the last twelve months was $21.0 billion, with growth of 16.5% a year over three years. The operating margin stands at 19.8%. The return on invested capital is shown as 10%. Net debt to EBITDA is 2.2 times. The company does not pay a dividend. These numbers describe past results and current financial position, and they are shown for reference only.
StocksXray gives Boston Scientific Corp an X-Ray Score of 63 out of 100 (high confidence), ahead of 78% of the S&P 500 stocks in its sector. Its strongest lens is growth (89) and its weakest is profitability (45).
Our fair value blend is $48.47 (range $45.12 to $52.12). At $44.39 the stock trades 8% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Boston Scientific Corp (BSX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$42.48
$46.27
$57.81
$89.32
$95.35
$44.39
Market cap
$60.9B
$66.6B
$84.6B
$132.7B
$142.5B
$65.5B
P/E
61.6×
102.8×
54.0×
71.5×
49.1×
18.0×
EV / revenue
5.7×
5.9×
6.5×
8.6×
7.6×
3.7×
EV / EBITDA
29.7×
26.8×
26.3×
37.0×
30.6×
14.0×
Price / free cash flow
46.3×
71.0×
47.2×
50.2×
39.0×
18.1×
Free-cash-flow yield
2.2%
1.4%
2.1%
2.0%
2.6%
5.5%
Price / book
3.7×
3.8×
4.4×
6.1×
5.9×
2.6×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 6 Good · ● 8 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.9%Bad
Free-cash-flow yield5.5%Average
Risk models
Altman Z score2.7×Average
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)62.8%Good
Free-cash-flow growth (3y)57.4%Good
Revenue growth (3y)16.5%Good
Growth consistency100%Good
Balance sheet
Current ratio1.2×Bad
Net debt / EBITDA2.2×Average
Interest cover11.4×Average
Valuation
Fair value vs price1.1×Average
EBIT / EV yield5.3%Good
Profitability
Return on invested capital10.1%Average
Operating margin19.8%Average
Gross profitability32.5%Average
XStocksXray
Boston Scientific Corp (BSX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
11,888
12,682
14,240
16,747
20,074
20,996
Gross profit
8,177
8,727
9,896
11,490
13,854
14,683
Operating income
1,199
1,649
2,343
2,603
3,613
4,152
Net income
1,041
698
1,592
1,846
2,892
3,669
Diluted EPS ($)
0.69
0.45
1.07
1.25
1.94
2.46
Free cash flow
1,316
938
1,792
2,645
3,658
3,625
Gross margin
68.8%
68.8%
69.5%
68.6%
69.0%
69.9%
Operating margin
10.1%
13.0%
16.5%
15.5%
18.0%
19.8%
Net margin
8.8%
5.5%
11.2%
11.0%
14.4%
17.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
32,229
32,469
35,136
39,395
43,673
45,216
Cash
1,925
928
865
414
1,965
539
Total debt
9,065
8,935
9,102
10,746
11,436
12,624
Equity
16,622
17,573
19,282
21,770
24,233
24,930
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.