BOSTON SCIENTIFIC CORP

Listed Company

BSXCIK 0000885725NYSELarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$20.07B

Net Income

$2.89B

Total Assets

$43.67B

Equity

$24.23B

Shares Out

1.48B

Op. Cash Flow

$4.53B

Business

BOSTON SCIENTIFIC CORP is a global developer, manufacturer and marketer of medical devices used across a broad range of interventional medical specialties to provide less-invasive diagnostic and therapeutic options. It offers a wide portfolio of products and technologies including endoscopy, urology, neuromodulation, cardiac rhythm management, electrophysiology, interventional cardiology, peripheral vascular and interventional oncology devices. The company reports operations in two principal segments, MedSurg and Cardiovascular, organized into multiple business units such as Endoscopy, Urology, Neuromodulation, ICTx, CRM, Electrophysiology and Peripheral Interventions. It sells products worldwide to hospitals, clinics, outpatient facilities and medical offices through direct sales organizations and a network of distributors, and participates in group purchasing organizations and hospital systems in 127 countries.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	20,074	16,747	14,240	12,682	11,888
Cost of products sold (excluding amortization expense)	6,221	5,257	4,345	3,956	3,711
Gross profit	13,854	11,490	9,896	8,727	8,177
Selling, general and administrative expenses	6,887	5,984	5,190	4,520	4,359
Research and development expenses	2,052	1,615	1,414	1,323	1,204
Royalty expense	46	33	46	47	49
Amortization expense	897	856	828	803	741
Intangible asset impairment charges	46	386	58	132	370
Contingent consideration net expense (benefit)	18	−5	58	35	−136
Restructuring net charges (credits)	101	16	69	24	40
Litigation-related net charges (credits)	194	0	−111	173	430
Operating expenses	10,241	8,887	7,553	7,078	6,978
Operating income (loss)	3,613	2,603	2,343	1,649	1,199
Interest expense	−349	−305	−265	−470	−341
Other, net	121	−16	−93	−38	—
Income (loss) before income taxes	3,385	2,282	1,985	1,141	1,076
Income tax expense (benefit)	493	436	393	443	36
Net income (loss)	2,892	1,846	1,592	698	1,041
Preferred stock dividends	0	0	−23	−55	55
Net income (loss) attributable to noncontrolling interests	−6	−8	−1	0	0
Net income (loss) attributable to Boston Scientific common stockholders	2,898	1,853	1,570	642	985
Net income (loss) per common share basic	1.96	1.26	1.08	0.45	0.69
Net income (loss) per common share diluted	1.94	1.25	1.07	0.45	0.69
Basic	1,480	1,472	1,453	1,431	1,422
Diluted	1,495	1,486	1,464	1,440	1,434

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,965	414	865	928	1,925
Trade accounts receivable, net	2,926	2,558	2,228	1,970	1,778
Inventories	2,943	2,810	2,484	1,867	1,610
Prepaid income taxes	299	307	315	264	205
Other current assets	660	831	621	731	799
Total current assets	8,794	6,920	6,514	5,760	6,317
Property, plant and equipment, net	4,036	3,294	2,859	2,446	2,252
Goodwill	18,282	17,089	14,387	12,920	11,988
Other intangible assets, net	7,019	6,684	6,003	5,902	6,121
Deferred tax assets	3,675	3,655	3,841	3,942	4,142
Other long-term assets	1,866	1,754	1,531	1,500	1,410
TOTAL ASSETS	43,673	39,395	35,136	32,469	32,229
Current debt obligations	299	1,778	531	20	261
Accounts payable	1,144	960	942	862	794
Accrued expenses	3,201	2,773	2,646	2,160	2,436
Other current liabilities	795	887	814	761	783
Total current liabilities	5,439	6,399	4,933	3,803	4,274
Long-term debt	11,137	8,968	8,571	8,915	8,804
Deferred tax liabilities	220	155	134	144	310
Other long-term liabilities	2,405	1,870	1,967	2,035	2,220
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value - authorized 50,000,000 shares; 0 shares issued as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value - authorized 2,000,000,000 shares; 1,746,290,165 shares issued as of December 31, 2025 and 1,737,846,196 shares issued as of December 31, 2024	17	17	17	17	17
Treasury stock, at cost - 263,289,848 shares as of December 31, 2025 and 2024	−2,251	−2,251	−2,251	−2,251	−2,251
Additional paid-in capital	21,505	21,056	20,647	20,289	19,986
Retained earnings	5,571	2,673	819	−750	−1,392
Accumulated other comprehensive income (loss), net of tax	−610	275	49	269	263
Total stockholders equity	24,233	21,770	19,282	17,573	16,622
Noncontrolling interests	239	233	248	0	—
Total stockholders equity	24,472	22,003	19,530	17,573	16,622
TOTAL LIABILITIES AND EQUITY	43,673	39,395	35,136	32,469	32,229

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,368	1,269	1,196	1,136	1,093
Deferred and prepaid income taxes	−2	−70	−1	−63	−124
Stock-based compensation expense	299	266	233	220	194
Goodwill and other intangible asset impairment charges	46	386	58	132	370
Net loss (gain) on investments and notes receivable	−139	79	59	1	−250
Inventory step-up amortization	132	51	6	32	34
Fixed asset and right-of-use asset impairment	124	72	27	—	—
Other, net	42	2	47	125	78
Trade accounts receivable	−269	−351	−238	−220	−279
Inventories	−188	−228	−660	−321	−346
Other assets	−85	−126	10	−209	−134
Accounts payable, accrued expenses and other liabilities	296	243	118	−255	408
Cash provided by (used for) operating activities	4,534	3,435	2,503	1,526	1,870
Purchases of property, plant and equipment and internal use software	−876	−790	−711	−588	−554
Payments for acquisitions of businesses, net of cash acquired	−1,593	−4,640	−1,811	−1,542	−2,258
Payments for investments and acquisitions of certain technologies	−254	−280	−89	−24	279
Other, net	84	23	37	70	82
Cash provided by (used for) investing activities	−2,640	−5,687	−2,574	−2,011	−1,597
Payment of contingent consideration previously established in purchase accounting	−62	−131	−39	−335	−15
Payments for finance leases	−258	−25	0	0	—
Payments on short-term borrowings	−1,595	−504	0	−250	0
Net increase (decrease) in commercial paper	−196	187	−4	−1	0
Proceeds from long-term borrowings, net of debt issuance costs	1,558	2,145	0	3,270	0
Cash used to net share settle employee equity awards	−131	−87	−56	−53	−50
Proceeds from issuances of shares of common stock pursuant to employee stock compensation and purchase plans	282	230	182	136	110
Other, net	7	−1	−77	—	—
Cash provided by (used for) financing activities	−395	1,814	5	−548	−95
Effect of foreign exchange rates on cash	42	−11	−4	−9	−6
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	1,541	−450	−70	−1,042	173
Cash paid for income taxes, net	561	656	512	662	302
Cash paid for interest	319	250	259	450	338
Fair value of contingent consideration recorded in purchase accounting	258	29	273	0	440
Noncash transactions related to finance lease obligations	205	122	0	—	—
Purchase of Property, plant and equipment, net through exchange of right-of-use assets	119	117	—	—	—

Filings

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