BSX BOSTON SCIENTIFIC CORP

Overview and Growth

BOSTON SCIENTIFIC CORP generated $20.07B of revenue in fiscal 2025, with net income of $2.90B and an operating cash inflow of $4.53B. The $20.07B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 19.9% from $16.75B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $1.94, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $1.25 in fiscal 2024, the current result was 55.2% higher. The revenue-to-assets relationship was 0.46x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $13.85B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 69.0% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $3.61B, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 18.0% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $2.90B for the fiscal year. The final earnings result represented 14.4% of revenue, connecting the absolute net income figure with the company’s top-line scale. Before income taxes, the company reported $3.38B of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 16.9%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $493.00M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 14.6% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 11.8% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 6.6%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

At period end, the $43.67B asset base was financed through $19.20B of liabilities and $24.47B of equity. Current assets were $8.79B against $5.44B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 1.62x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $1.97B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 36.1%, excluding receivables and other current assets. Liabilities represented 44.0% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 4.5%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 10.9% higher than fiscal 2024 assets of $39.40B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $4.53B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.56x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $876.00M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 19.3%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $3.66B of positive free cash flow for the period. Relative to revenue, free cash flow equaled 18.2%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 8.4%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.