Financials Boston Scientific Corporation

Equities

BSX

US1011371077

Advanced Medical Equipment & Technology

Market Closed - Nyse Other stock markets 21:00:02 16/01/2026 GMT			5-day change	1st Jan Change
88.07 ^USD	-2.18%		-7.99%	-7.64%

01-16	Oppenheimer Adjusts Price Target on Boston Scientific to $100 From $125, Maintains Outperform Rating	MT
01-16	RTW Biotech's portfolio firm Penumbra acquired by Boston Scientific	AN

Projected Income Statement: Boston Scientific Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	9,913	11,888	12,682	14,240	16,747	20,073	22,390	24,813
Change	-	19.92%	6.68%	12.29%	17.61%	19.86%	11.55%	10.82%
EBITDA ¹	3,040	4,103	3,574	4,106	4,839	6,155	6,929	7,776
Change	-	34.97%	-12.89%	14.89%	17.85%	27.2%	12.56%	12.22%
EBIT ¹	1,917	3,010	3,241	3,738	4,529	5,626	6,354	7,146
Change	-	57.02%	7.67%	15.33%	21.16%	24.23%	12.93%	12.47%
Interest Paid ¹	-361	-341	-470	-265	-305	-345.6	-344.9	-337.4
Earnings before Tax (EBT) ¹	-138	1,076	1,141	1,985	2,282	3,533	4,487	5,366
Change	-	879.71%	6.04%	73.97%	14.96%	54.84%	26.97%	19.59%
Net income ¹	-173	985	642	1,570	1,853	3,011	3,763	4,506
Change	-	669.36%	-34.82%	144.55%	18.03%	62.52%	24.94%	19.76%
Announcement Date	03/02/21	02/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	2,708	2,752	3,077	2,932	3,127	3,026	3,244	3,170	3,242	3,389	3,599	3,527	3,725	3,856	4,120	4,209	4,561	4,663	5,061	5,065	5,280	5,203	5,600	5,635	5,871	5,713	6,159	6,207
Change	-	1.62%	11.81%	-4.71%	6.65%	-3.23%	7.2%	-2.28%	2.27%	4.53%	6.2%	-2%	5.61%	3.52%	6.85%	2.16%	8.36%	2.24%	8.54%	0.08%	4.24%	-1.46%	7.64%	0.63%	4.18%	-2.69%	7.81%	0.76%
EBITDA ¹	785	937	856	838	1,109	1,055	898	892	928	947	1,052	1,011	1,095	1,078	1,196	1,221	1,344	1,426	1,487	1,502	1,591	1,599	1,746	1,725	1,841	1,669	1,848	1,867
Change	-	19.36%	-8.64%	-2.1%	32.34%	-4.87%	-14.88%	-0.67%	4.04%	2.05%	11.09%	-3.9%	8.31%	-1.55%	10.95%	2.09%	10.07%	6.1%	4.28%	1.01%	5.9%	0.52%	9.21%	-1.19%	6.68%	-9.33%	10.72%	1.03%
EBIT ¹	495	669	773	750	819	781	818	810	833	865	964	919	990	1,012	1,119	1,147	1,251	1,350	1,399	1,419	1,458	1,459	1,599	1,594	1,696	1,636	1,764	1,788
Change	-	35.15%	15.55%	-2.98%	9.2%	-4.64%	4.74%	-0.98%	2.84%	3.84%	11.45%	-4.67%	7.73%	2.22%	10.57%	2.5%	9.07%	7.91%	3.63%	1.43%	2.76%	0.05%	9.6%	-0.31%	6.39%	-3.5%	7.77%	1.41%
Charge d'intérêts ¹	-96	-82	-86	-86	-87	-279	-64	-63	-64	-65	-70	-66	-65	-69	-77	-79	-80	-82	-90	-87	-90.77	-85.25	-85.5	-82.88	-82.75	-88	-87.67	-87.33
Earnings before Tax (EBT) ¹	248	325	149	483	120	156	345	245	396	444	426	610	505	608	420	669	585	805	941	939	921.5	963.3	1,077	1,084	1,196	1,147	1,233	1,244
Change	-	31.05%	-54.15%	224.16%	-75.16%	30%	121.15%	-28.99%	61.63%	12.12%	-4.05%	43.19%	-17.21%	20.4%	-30.92%	59.29%	-12.56%	37.61%	16.89%	-0.21%	-1.86%	4.54%	11.83%	0.62%	10.33%	-4.1%	7.5%	0.89%
Net income ¹	138	327	172	405	80	97	246	174	126	300	261	505	504	495	324	469	566	674	797	755	826.2	814.5	939.5	935.2	1,035	962.9	1,069	1,099
Change	-	136.96%	-47.4%	135.47%	-80.25%	21.25%	153.61%	-29.27%	-27.59%	138.1%	-13%	93.49%	-0.2%	-1.79%	-34.55%	44.75%	20.68%	19.08%	18.25%	-5.27%	9.43%	-1.42%	15.36%	-0.46%	10.7%	-7%	11.06%	2.81%
Announcement Date	03/02/21	28/04/21	27/07/21	27/10/21	02/02/22	27/04/22	27/07/22	26/10/22	01/02/23	26/04/23	27/07/23	26/10/23	31/01/24	24/04/24	24/07/24	23/10/24	05/02/25	23/04/25	23/07/25	22/10/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Boston Scientific Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	7,409	7,140	8,007	8,237	10,332	8,829	5,424	3,486
Change	-	-3.63%	12.14%	2.87%	25.43%	-14.55%	-38.57%	-35.73%
Announcement Date	03/02/21	02/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Boston Scientific Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	376	554	588	711	790	867.4	918.1	1,002
Change	-	47.34%	6.14%	20.92%	11.11%	9.79%	5.86%	9.13%
Free Cash Flow (FCF) ¹	1,132	1,316	938	1,792	2,645	3,022	3,126	4,510
Change	-	16.25%	-28.72%	91.04%	47.6%	14.27%	3.42%	44.28%
Announcement Date	03/02/21	02/02/22	01/02/23	31/01/24	05/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Boston Scientific Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	30.67%	34.51%	28.18%	28.83%	28.89%	30.67%	30.95%	31.34%
EBIT Margin (%)	19.34%	25.32%	25.56%	26.25%	27.04%	28.03%	28.38%	28.8%
EBT Margin (%)	-1.39%	9.05%	9%	13.94%	13.63%	17.6%	20.04%	21.62%
Net margin (%)	-1.75%	8.29%	5.06%	11.03%	11.06%	15%	16.8%	18.16%
FCF margin (%)	11.42%	11.07%	7.4%	12.58%	15.79%	15.06%	13.96%	18.18%
FCF / Net Income (%)	-654.34%	133.6%	146.11%	114.14%	142.74%	100.36%	83.08%	100.09%
Profitability
ROA	4.49%	7.42%	7.6%	8.87%	10%	9.98%	10.95%	11.8%
ROE	9.44%	14.12%	14.38%	16.27%	18.15%	18.88%	19.16%	18.83%
Financial Health
Leverage (Debt/EBITDA)	2.44x	1.74x	2.24x	2.01x	2.14x	1.43x	0.78x	0.45x
Debt / Free cash flow	6.55x	5.43x	8.54x	4.6x	3.91x	2.92x	1.74x	0.77x
Capital Intensity
CAPEX / Current Assets (%)	3.79%	4.66%	4.64%	4.99%	4.72%	4.32%	4.1%	4.04%
CAPEX / EBITDA (%)	12.37%	13.5%	16.45%	17.32%	16.33%	14.09%	13.25%	12.89%
CAPEX / FCF (%)	33.22%	42.1%	62.69%	39.68%	29.87%	28.7%	29.37%	22.22%
Items per share
Cash flow per share ¹	1.064	1.304	1.06	1.71	2.312	3.17	3.401	3.925
Change	-	22.53%	-18.73%	61.36%	35.16%	37.13%	7.29%	15.41%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	10.82	11.66	12.26	13.16	14.76	16.65	19.09	21.93
Change	-	7.78%	5.14%	7.3%	12.23%	12.79%	14.64%	14.89%
EPS ¹	-0.12	0.69	0.45	1.07	1.25	2.039	2.529	3.022
Change	-	675%	-34.78%	137.78%	16.82%	63.08%	24.05%	19.5%
Nbr of stocks (in thousands)	1,431,921	1,424,992	1,432,311	1,464,983	1,473,827	1,483,020	1,483,020	1,483,020
Announcement Date	03/02/21	02/02/22	01/02/23	31/01/24	05/02/25	-	-	-