Operating Profit Margin
since 2005
Calculation
Boston Scientific Corp., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 13.00% | = | 100 | × | 1,649) | ÷ | 12,682) |
| Dec 31, 2021 | 10.09% | = | 100 | × | 1,199) | ÷ | 11,888) |
| Dec 31, 2020 | -0.81% | = | 100 | × | (80) | ÷ | 9,913) |
| Dec 31, 2019 | 14.14% | = | 100 | × | 1,518) | ÷ | 10,735) |
| Dec 31, 2018 | 15.33% | = | 100 | × | 1,506) | ÷ | 9,823) |
| Dec 31, 2017 | 14.20% | = | 100 | × | 1,285) | ÷ | 9,048) |
| Dec 31, 2016 | 5.33% | = | 100 | × | 447) | ÷ | 8,386) |
| Dec 31, 2015 | -4.37% | = | 100 | × | (327) | ÷ | 7,477) |
| Dec 31, 2014 | -4.08% | = | 100 | × | (301) | ÷ | 7,380) |
| Dec 31, 2013 | 1.68% | = | 100 | × | 120) | ÷ | 7,143) |
| Dec 31, 2012 | -53.36% | = | 100 | × | (3,868) | ÷ | 7,249) |
| Dec 31, 2011 | 11.86% | = | 100 | × | 904) | ÷ | 7,622) |
| Dec 31, 2010 | -8.40% | = | 100 | × | (656) | ÷ | 7,806) |
| Dec 31, 2009 | -10.92% | = | 100 | × | (894) | ÷ | 8,188) |
| Dec 31, 2008 | -18.70% | = | 100 | × | (1,505) | ÷ | 8,050) |
| Dec 31, 2007 | -0.17% | = | 100 | × | (14) | ÷ | 8,357) |
| Dec 31, 2006 | -37.71% | = | 100 | × | (2,949) | ÷ | 7,821) |
| Dec 31, 2005 | 15.41% | = | 100 | × | 968) | ÷ | 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 financial performance from 2005 to 2022 is characterized by extreme volatility in operating margins, followed by a period of stabilization and growth in the latter half of the timeline. While net sales demonstrated a long-term upward trajectory, growing from 6,283 million US dollars in 2005 to 12,682 million US dollars in 2022, operating profitability did not follow a linear path, suggesting significant fluctuations in operational costs or the occurrence of substantial non-recurring charges.
- Period of High Volatility (2006–2015)
- A decade of instability is observed, marked by frequent swings between operational losses and marginal profitability. Following a healthy margin of 15.41% in 2005, the operating profit margin collapsed to -37.71% in 2006. Although a near-breakeven point was reached in 2007, the margin remained negative through 2010. A brief recovery to 11.86% in 2011 was immediately followed by the most severe contraction in the data set, with the margin falling to -53.36% in 2012. Profitability remained suppressed or negative through 2015, indicating a prolonged period of operational challenge or structural reorganization.
- Operational Stabilization and Recovery (2016–2019)
- A sustained recovery trend began in 2016, as the operating profit margin returned to positive territory at 5.33%. This upward momentum continued through 2018, where the margin peaked at 15.33%, effectively returning to the levels seen in 2005. This period correlates with a steady increase in net sales, which grew from 8,386 million US dollars in 2016 to 10,735 million US dollars in 2019, suggesting an improvement in operational efficiency and cost management.
- Recent Performance and Pandemic Impact (2020–2022)
- A temporary disruption occurred in 2020, with the operating profit margin dropping to -0.81%, coinciding with a decrease in net sales to 9,913 million US dollars. However, this decline was short-lived. In 2021 and 2022, the company demonstrated a strong rebound, with the operating profit margin climbing back to 10.09% and then to 13.00%. This recovery was supported by record net sales of 12,682 million US dollars by the end of 2022.
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Comparison to Competitors
Boston Scientific Corp., operating profit margin, long-term trends, comparison to competitors
| Boston Scientific Corp. | Abbott Laboratories | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 13.00% | 19.16% | 25.35% | 18.15% | 8.83% |
| Dec 31, 2021 | 10.09% | 19.56% | 31.89% | 14.89% | 8.40% |
| Dec 31, 2020 | -0.81% | 15.48% | 24.09% | 16.57% | 8.76% |
| Dec 31, 2019 | 14.14% | 14.21% | 30.69% | 20.51% | 8.19% |
| Dec 31, 2018 | 15.33% | 11.94% | 32.21% | 22.20% | 7.71% |
| Dec 31, 2017 | 14.20% | 6.30% | 33.71% | 17.94% | 7.60% |
| Dec 31, 2016 | 5.33% | 15.27% | 34.95% | 18.35% | 7.03% |
| Dec 31, 2015 | -4.37% | 14.05% | 31.04% | 18.59% | 7.05% |
| Dec 31, 2014 | -4.08% | 12.84% | 25.56% | 22.42% | 7.92% |
| Dec 31, 2013 | 1.68% | 12.03% | 37.64% | 26.53% | 7.90% |
| Dec 31, 2012 | -53.36% | 20.28% | 40.30% | 0.00% | 8.42% |
| Dec 31, 2011 | 11.86% | 14.81% | 39.54% | 0.00% | 8.36% |
| Dec 31, 2010 | -8.40% | 17.31% | 39.29% | 0.00% | 8.41% |
| Dec 31, 2009 | -10.92% | 20.27% | 35.87% | 0.00% | 7.35% |
| Dec 31, 2008 | -18.70% | 19.28% | 35.53% | 0.00% | 6.54% |
| Dec 31, 2007 | -0.17% | 17.67% | 34.41% | 0.00% | 10.57% |
| Dec 31, 2006 | -37.71% | 9.09% | 28.81% | 0.00% | 9.88% |
| Dec 31, 2005 | 15.41% | 19.53% | 30.25% | 0.00% | 11.98% |
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).