Net Profit Margin
since 2005
Calculation
Boston Scientific Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 5.50% | = | 100 | × | 698) | ÷ | 12,682) |
| Dec 31, 2021 | 8.76% | = | 100 | × | 1,041) | ÷ | 11,888) |
| Dec 31, 2020 | -0.83% | = | 100 | × | (82) | ÷ | 9,913) |
| Dec 31, 2019 | 43.78% | = | 100 | × | 4,700) | ÷ | 10,735) |
| Dec 31, 2018 | 17.01% | = | 100 | × | 1,671) | ÷ | 9,823) |
| Dec 31, 2017 | 1.15% | = | 100 | × | 104) | ÷ | 9,048) |
| Dec 31, 2016 | 4.14% | = | 100 | × | 347) | ÷ | 8,386) |
| Dec 31, 2015 | -3.20% | = | 100 | × | (239) | ÷ | 7,477) |
| Dec 31, 2014 | -1.61% | = | 100 | × | (119) | ÷ | 7,380) |
| Dec 31, 2013 | -1.69% | = | 100 | × | (121) | ÷ | 7,143) |
| Dec 31, 2012 | -56.12% | = | 100 | × | (4,068) | ÷ | 7,249) |
| Dec 31, 2011 | 5.79% | = | 100 | × | 441) | ÷ | 7,622) |
| Dec 31, 2010 | -13.64% | = | 100 | × | (1,065) | ÷ | 7,806) |
| Dec 31, 2009 | -12.52% | = | 100 | × | (1,025) | ÷ | 8,188) |
| Dec 31, 2008 | -25.29% | = | 100 | × | (2,036) | ÷ | 8,050) |
| Dec 31, 2007 | -5.92% | = | 100 | × | (495) | ÷ | 8,357) |
| Dec 31, 2006 | -45.74% | = | 100 | × | (3,577) | ÷ | 7,821) |
| Dec 31, 2005 | 10.00% | = | 100 | × | 628) | ÷ | 6,283) |
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 net profit margin for Boston Scientific Corp. between 2005 and 2022 is characterized by extreme volatility, marked by recurring cycles of significant losses interrupted by periods of sharp recovery and peak profitability. While net sales demonstrated a consistent long-term growth trend, rising from $6.28 billion in 2005 to $12.68 billion in 2022, the net income fluctuated substantially, preventing a linear progression in profit margins.
- Period of High Volatility (2006–2015)
- The first decade of the observed period was defined by instability and significant margin contractions. Severe declines were recorded in 2006 (-45.74%) and reached a historical low in 2012 (-56.12%). During this interval, the company frequently shifted between deep losses and marginal recoveries, such as the 5.79% margin seen in 2011, indicating a period of significant financial turbulence or structural realignment.
- Expansion and Peak Profitability (2016–2019)
- A transition toward sustained profitability began in 2016, leading to a rapid escalation in margins. The net profit margin climbed from 4.14% in 2016 to 17.01% in 2018, culminating in a peak of 43.78% in 2019. This phase represents the most efficient conversion of sales to net income in the entire sequence, occurring as net sales surpassed the $10 billion threshold.
- Recent Performance and Stabilization (2020–2022)
- The period following the 2019 peak saw a sharp, single-year correction in 2020, where the margin fell to -0.83%. However, profitability returned in 2021 and 2022 with margins of 8.76% and 5.50%, respectively. This suggests a stabilization of earnings at a moderate level, maintaining positive net income despite the volatility experienced in the prior fifteen years.
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Comparison to Competitors
Boston Scientific Corp., net profit margin, 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 | 5.50% | 15.88% | 3.87% | 21.25% | 15.90% | 6.25% |
| Dec 31, 2021 | 8.76% | 16.42% | 4.46% | 29.85% | 11.97% | 6.06% |
| Dec 31, 2020 | -0.83% | 12.99% | 3.78% | 24.33% | 16.56% | 6.03% |
| Dec 31, 2019 | 43.78% | 11.56% | 4.66% | 30.80% | 15.16% | 5.76% |
| Dec 31, 2018 | 17.01% | 7.74% | 4.11% | 30.29% | 10.36% | 5.33% |
| Dec 31, 2017 | 1.15% | 1.74% | 4.31% | 21.09% | 13.56% | 5.28% |
| Dec 31, 2016 | 4.14% | 6.71% | 2.93% | 27.21% | 12.27% | 3.81% |
| Dec 31, 2015 | -3.20% | 21.68% | 3.27% | 24.69% | 13.20% | 3.72% |
| Dec 31, 2014 | -1.61% | 11.28% | 3.52% | 19.65% | 18.02% | 4.33% |
| Dec 31, 2013 | -1.69% | 11.79% | 3.55% | 29.62% | 20.90% | 4.62% |
| Dec 31, 2012 | -56.12% | 14.95% | 4.37% | 30.14% | 22.35% | 5.03% |
| Dec 31, 2011 | 5.79% | 12.17% | 4.42% | 28.17% | 19.43% | 5.08% |
| Dec 31, 2010 | -13.64% | 13.15% | 4.99% | 27.02% | 19.59% | 4.95% |
| Dec 31, 2009 | -12.52% | 18.68% | 7.80% | 22.11% | 14.86% | 4.42% |
| Dec 31, 2008 | -25.29% | 16.53% | 4.04% | 23.35% | 16.51% | 3.70% |
| Dec 31, 2007 | -5.92% | 13.92% | 5.56% | 24.06% | 22.78% | 6.26% |
| Dec 31, 2006 | -45.74% | 7.64% | 5.52% | 19.33% | 22.55% | 5.89% |
| Dec 31, 2005 | 10.00% | 15.10% | 5.53% | 41.41% | 17.94% | 7.36% |
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., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Boston Scientific Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2022 | 5.50% | 7.05% |
| Dec 31, 2021 | 8.76% | 7.14% |
| Dec 31, 2020 | -0.83% | 6.82% |
| Dec 31, 2019 | 43.78% | 6.91% |
| Dec 31, 2018 | 17.01% | 5.87% |
| Dec 31, 2017 | 1.15% | 5.60% |
| Dec 31, 2016 | 4.14% | 4.73% |
| Dec 31, 2015 | -3.20% | 5.78% |
| Dec 31, 2014 | -1.61% | 5.76% |
| Dec 31, 2013 | -1.69% | 6.37% |
| Dec 31, 2012 | -56.12% | 8.05% |
| Dec 31, 2011 | 5.79% | 7.40% |
| Dec 31, 2010 | -13.64% | 7.67% |
| Dec 31, 2009 | -12.52% | 8.63% |
| Dec 31, 2008 | -25.29% | 6.88% |
| Dec 31, 2007 | -5.92% | 8.40% |
| Dec 31, 2006 | -45.74% | 7.20% |
| Dec 31, 2005 | 10.00% | 9.04% |
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., net profit margin, long-term trends, comparison to industry (health care)
| Boston Scientific Corp. | Health Care | |
|---|---|---|
| Dec 31, 2022 | 5.50% | 14.65% |
| Dec 31, 2021 | 8.76% | 15.24% |
| Dec 31, 2020 | -0.83% | 10.27% |
| Dec 31, 2019 | 43.78% | 14.56% |
| Dec 31, 2018 | 17.01% | 12.61% |
| Dec 31, 2017 | 1.15% | 9.26% |
| Dec 31, 2016 | 4.14% | 12.80% |
| Dec 31, 2015 | -3.20% | 13.94% |
| Dec 31, 2014 | -1.61% | 14.40% |
| Dec 31, 2013 | -1.69% | 15.04% |
| Dec 31, 2012 | -56.12% | 13.92% |
| Dec 31, 2011 | 5.79% | 12.06% |
| Dec 31, 2010 | -13.64% | 11.90% |
| Dec 31, 2009 | -12.52% | 17.77% |
| Dec 31, 2008 | -25.29% | 13.00% |
| Dec 31, 2007 | -5.92% | 12.52% |
| Dec 31, 2006 | -45.74% | 15.30% |
| Dec 31, 2005 | 10.00% | 14.61% |
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).