Current Ratio
since 2005
Calculation
Boston Scientific Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.51 | = | 5,760) | ÷ | 3,803) |
| Dec 31, 2021 | 1.48 | = | 6,317) | ÷ | 4,274) |
| Dec 31, 2020 | 1.82 | = | 6,694) | ÷ | 3,681) |
| Dec 31, 2019 | 0.97 | = | 4,699) | ÷ | 4,866) |
| Dec 31, 2018 | 0.76 | = | 4,003) | ÷ | 5,260) |
| Dec 31, 2017 | 0.68 | = | 3,822) | ÷ | 5,654) |
| Dec 31, 2016 | 0.90 | = | 3,239) | ÷ | 3,587) |
| Dec 31, 2015 | 1.43 | = | 3,471) | ÷ | 2,430) |
| Dec 31, 2014 | 1.27 | = | 3,606) | ÷ | 2,846) |
| Dec 31, 2013 | 1.65 | = | 3,011) | ÷ | 1,824) |
| Dec 31, 2012 | 1.71 | = | 3,022) | ÷ | 1,772) |
| Dec 31, 2011 | 1.72 | = | 3,105) | ÷ | 1,807) |
| Dec 31, 2010 | 1.39 | = | 3,615) | ÷ | 2,609) |
| Dec 31, 2009 | 1.34 | = | 4,061) | ÷ | 3,022) |
| Dec 31, 2008 | 1.69 | = | 5,452) | ÷ | 3,233) |
| Dec 31, 2007 | 1.82 | = | 5,921) | ÷ | 3,250) |
| Dec 31, 2006 | 1.86 | = | 4,901) | ÷ | 2,630) |
| Dec 31, 2005 | 1.78 | = | 2,631) | ÷ | 1,479) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile from 2005 to 2022 is characterized by three distinct phases: a period of relative stability, a significant contraction in short-term solvency, and a subsequent recovery to healthy levels.
- Initial Stability and Gradual Decline (2005–2013)
- During the first nine years of the observed period, the current ratio remained consistently above 1.30, peaking at 1.86 in 2006. Current assets grew from 2,631 million US$ in 2005 to a peak of 5,921 million US$ in 2007. While current assets decreased steadily after 2007, the current ratio remained robust, generally fluctuating between 1.34 and 1.72, indicating a strong ability to cover short-term obligations.
- Liquidity Compression and Solvency Stress (2014–2019)
- A marked deterioration in liquidity occurred starting in 2014, with the current ratio dropping to 1.27 and continuing a downward trend. A critical period of liquidity stress is observed between 2016 and 2018, where the current ratio fell below 1.0, reaching a minimum of 0.68 in 2017. This indicates that current liabilities exceeded current assets, with liabilities peaking at 5,654 million US$ in 2017. The current ratio began a slow recovery toward the end of this phase, reaching 0.97 by 2019.
- Recovery and Recent Stabilization (2020–2022)
- A sharp recovery in the liquidity position is evident in 2020, where the current ratio surged to 1.82. This improvement was driven by a substantial increase in current assets to 6,694 million US$ and a concurrent reduction in current liabilities to 3,681 million US$. In the final two years of the period, the current ratio stabilized, ending at 1.51 in 2022, suggesting a return to a conservative and sustainable short-term financial position.
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Comparison to Competitors
Boston Scientific Corp., current ratio, long-term trends, comparison to competitors
| Boston Scientific Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 1.51 | 1.63 | 1.40 | 4.40 | 1.86 | 0.77 |
| Dec 31, 2021 | 1.48 | 1.85 | 1.47 | 5.08 | 2.65 | 0.79 |
| Dec 31, 2020 | 1.82 | 1.72 | 1.55 | 6.86 | 2.13 | 0.74 |
| Dec 31, 2019 | 0.97 | 1.44 | 1.65 | 4.53 | 2.59 | 0.69 |
| Dec 31, 2018 | 0.76 | 1.62 | 1.56 | 5.28 | 2.28 | 0.73 |
| Dec 31, 2017 | 0.68 | 2.26 | 1.55 | 3.99 | 1.75 | 0.73 |
| Dec 31, 2016 | 0.90 | 4.02 | 1.61 | 5.45 | 3.29 | 0.69 |
| Dec 31, 2015 | 1.43 | 1.54 | 1.62 | 4.46 | 3.36 | 0.74 |
| Dec 31, 2014 | 1.27 | 1.45 | 1.72 | 3.69 | 3.82 | 0.77 |
| Dec 31, 2013 | 1.65 | 2.02 | 1.82 | 5.07 | 4.57 | 0.73 |
| Dec 31, 2012 | 1.71 | 2.36 | 1.78 | 4.71 | 1.62 | 0.78 |
| Dec 31, 2011 | 1.72 | 1.54 | 1.71 | 4.57 | 1.93 | 0.85 |
| Dec 31, 2010 | 1.39 | 1.29 | 1.87 | 4.66 | 1.92 | 0.78 |
| Dec 31, 2009 | 1.34 | 1.79 | 1.91 | 4.18 | 2.37 | 0.82 |
| Dec 31, 2008 | 1.69 | 1.47 | 0.81 | 4.28 | 2.07 | 0.76 |
| Dec 31, 2007 | 1.82 | 1.54 | 0.91 | 4.63 | 3.09 | 0.84 |
| Dec 31, 2006 | 1.86 | 0.94 | 0.77 | 4.64 | 2.36 | 0.87 |
| Dec 31, 2005 | 1.78 | 1.54 | 1.75 | 3.60 | 2.20 | 0.64 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Boston Scientific Corp., current ratio, long-term trends, comparison to sector (health care equipment & services)
| Boston Scientific Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2022 | 1.51 | 1.13 |
| Dec 31, 2021 | 1.48 | 1.22 |
| Dec 31, 2020 | 1.82 | 1.19 |
| Dec 31, 2019 | 0.97 | 1.17 |
| Dec 31, 2018 | 0.76 | 1.21 |
| Dec 31, 2017 | 0.68 | 1.24 |
| Dec 31, 2016 | 0.90 | 1.43 |
| Dec 31, 2015 | 1.43 | 1.36 |
| Dec 31, 2014 | 1.27 | 1.43 |
| Dec 31, 2013 | 1.65 | 1.54 |
| Dec 31, 2012 | 1.71 | 1.47 |
| Dec 31, 2011 | 1.72 | 1.36 |
| Dec 31, 2010 | 1.39 | 1.29 |
| Dec 31, 2009 | 1.34 | 1.46 |
| Dec 31, 2008 | 1.69 | 1.04 |
| Dec 31, 2007 | 1.82 | 1.14 |
| Dec 31, 2006 | 1.86 | 0.99 |
| Dec 31, 2005 | 1.78 | 1.31 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Boston Scientific Corp., current ratio, long-term trends, comparison to industry (health care)
| Boston Scientific Corp. | Health Care | |
|---|---|---|
| Dec 31, 2022 | 1.51 | 1.23 |
| Dec 31, 2021 | 1.48 | 1.31 |
| Dec 31, 2020 | 1.82 | 1.30 |
| Dec 31, 2019 | 0.97 | 1.48 |
| Dec 31, 2018 | 0.76 | 1.52 |
| Dec 31, 2017 | 0.68 | 1.55 |
| Dec 31, 2016 | 0.90 | 1.73 |
| Dec 31, 2015 | 1.43 | 1.70 |
| Dec 31, 2014 | 1.27 | 1.92 |
| Dec 31, 2013 | 1.65 | 1.96 |
| Dec 31, 2012 | 1.71 | 1.84 |
| Dec 31, 2011 | 1.72 | 1.94 |
| Dec 31, 2010 | 1.39 | 1.81 |
| Dec 31, 2009 | 1.34 | 1.78 |
| Dec 31, 2008 | 1.69 | 1.44 |
| Dec 31, 2007 | 1.82 | 1.53 |
| Dec 31, 2006 | 1.86 | 1.39 |
| Dec 31, 2005 | 1.78 | 1.63 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).