Price to Sales (P/S)
since 2005
Calculation
Boston Scientific Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 23, 2023 | 5.34 | = | 47.18 | ÷ | 8.84 | 8.84 | = | 12,682 | ÷ | 1,434,780,104 | |
| Feb 23, 2022 | 5.25 | = | 43.71 | ÷ | 8.33 | 8.33 | = | 11,888 | ÷ | 1,426,724,712 | |
| Feb 23, 2021 | 5.54 | = | 38.75 | ÷ | 6.99 | 6.99 | = | 9,913 | ÷ | 1,417,165,707 | |
| Feb 25, 2020 | 5.19 | = | 39.91 | ÷ | 7.69 | 7.69 | = | 10,735 | ÷ | 1,396,195,349 | |
| Feb 19, 2019 | 5.62 | = | 39.86 | ÷ | 7.09 | 7.09 | = | 9,823 | ÷ | 1,385,961,926 | |
| Feb 20, 2018 | 4.08 | = | 26.83 | ÷ | 6.58 | 6.58 | = | 9,048 | ÷ | 1,374,910,797 | |
| Feb 23, 2017 | 3.98 | = | 24.48 | ÷ | 6.15 | 6.15 | = | 8,386 | ÷ | 1,363,488,640 | |
| Feb 24, 2016 | 3.13 | = | 17.33 | ÷ | 5.55 | 5.55 | = | 7,477 | ÷ | 1,348,346,253 | |
| Feb 25, 2015 | 3.05 | = | 16.92 | ÷ | 5.55 | 5.55 | = | 7,380 | ÷ | 1,330,512,367 | |
| Feb 26, 2014 | 2.47 | = | 13.34 | ÷ | 5.39 | 5.39 | = | 7,143 | ÷ | 1,324,192,809 | |
| Feb 22, 2013 | 1.38 | = | 7.37 | ÷ | 5.34 | 5.34 | = | 7,249 | ÷ | 1,357,426,289 | |
| Feb 17, 2012 | 1.16 | = | 6.09 | ÷ | 5.25 | 5.25 | = | 7,622 | ÷ | 1,451,346,240 | |
| Feb 17, 2011 | 1.44 | = | 7.40 | ÷ | 5.12 | 5.12 | = | 7,806 | ÷ | 1,523,368,979 | |
| Feb 26, 2010 | 1.43 | = | 7.74 | ÷ | 5.42 | 5.42 | = | 8,188 | ÷ | 1,511,368,790 | |
| Feb 27, 2009 | 1.31 | = | 7.02 | ÷ | 5.36 | 5.36 | = | 8,050 | ÷ | 1,502,237,400 | |
| Feb 28, 2008 | 2.27 | = | 12.72 | ÷ | 5.60 | 5.60 | = | 8,357 | ÷ | 1,492,320,521 | |
| Mar 1, 2007 | 3.07 | = | 16.21 | ÷ | 5.28 | 5.28 | = | 7,821 | ÷ | 1,480,340,219 | |
| Mar 1, 2006 | 3.14 | = | 24.00 | ÷ | 7.65 | 7.65 | = | 6,283 | ÷ | 821,567,300 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Boston Scientific Corp. Annual Report.
The share price demonstrated a significant decline from 24 US$ in March 2006, reaching its lowest point of 6.09 US$ in February 2012. After this period, there was a consistent upward trend with the share price rising steadily to 47.18 US$ by February 2023. This indicates a substantial recovery and growth over the latter part of the period.
Sales per share showed a generally stable trend in the earlier years, fluctuating mildly between 5.12 US$ and 5.65 US$ from 2006 to 2013. Starting around 2014, sales per share exhibited a gradual increase from 5.39 US$, peaking at 8.84 US$ by February 2023, indicating progressive improvement in sales performance per share over time.
The price-to-sales (P/S) ratio experienced a downward trend from 3.14 in 2006 to its lowest point of 1.16 in February 2012, reflecting depreciation in the share price relative to sales during that period. From 2012 onwards, the P/S ratio increased sharply, reaching a high of 5.62 in 2019 and sustaining levels above 5.0 through 2023. This suggests a rising market valuation of the company’s sales, potentially due to investor confidence, growth expectations, or improved profitability.
- Summary of the Trends
- - Share price fell significantly up to 2012, then recovered strongly through 2023.
- - Sales per share remained relatively flat initially, then showed steady growth from 2014 onward.
- - The P/S ratio declined until 2012, indicating undervaluation relative to sales, followed by a sharp rise, signaling increasing market valuation.
- - The combination of rising share price and increasing sales per share after 2012 points to enhanced company performance and improved market perception.
Comparison to Competitors
Boston Scientific Corp., P/S, long-term trends, comparison to competitors
| Boston Scientific Corp. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|---|
| Feb 23, 2023 | 5.34 | 4.25 | 0.36 | 362,239.81 | 13.81 | 3.72 | 1.40 |
| Feb 23, 2022 | 5.25 | 4.78 | 0.47 | 0.81 | 17.89 | 5.57 | 1.58 |
| Feb 23, 2021 | 5.54 | 6.30 | 0.35 | 0.60 | 21.29 | 4.36 | 1.24 |
| Feb 25, 2020 | 5.19 | 4.83 | 0.37 | 0.74 | 15.01 | 4.36 | 1.18 |
| Feb 19, 2019 | 5.62 | 4.37 | 0.39 | 0.88 | 16.06 | 3.92 | 1.12 |
| Feb 20, 2018 | 4.08 | 3.84 | 0.38 | 0.67 | 14.97 | 4.06 | 1.10 |
| Feb 23, 2017 | 3.98 | 3.70 | 0.45 | 0.51 | 10.11 | 4.07 | 0.83 |
| Feb 24, 2016 | 3.13 | 2.78 | 0.65 | 0.42 | 8.46 | 5.36 | 0.68 |
| Feb 25, 2015 | 3.05 | 3.53 | 0.82 | 0.54 | 8.80 | 3.74 | 0.80 |
| Feb 26, 2014 | 2.47 | 2.74 | 0.64 | 0.35 | 6.76 | 3.13 | 0.57 |
| Feb 22, 2013 | 1.38 | 1.38 | 0.51 | 0.31 | 10.56 | 2.36 | 0.53 |
| Feb 17, 2012 | 1.16 | 2.27 | 0.54 | 0.37 | 11.00 | 2.60 | 0.55 |
| Feb 17, 2011 | 1.44 | 2.06 | 0.47 | 0.44 | 9.15 | 2.48 | 0.50 |
| Feb 26, 2010 | 1.43 | 2.74 | 0.48 | 0.43 | 12.01 | 2.54 | 0.44 |
| Feb 27, 2009 | 1.31 | 2.83 | 0.43 | 0.33 | 5.14 | 4.30 | 0.43 |
| Feb 28, 2008 | 2.27 | 3.31 | 0.76 | 0.67 | 19.21 | 4.74 | 0.81 |
| Mar 1, 2007 | 3.07 | 3.68 | 0.60 | 0.89 | 11.23 | 4.81 | 1.03 |
| Mar 1, 2006 | 3.14 | 3.02 | 0.68 | 1.14 | 15.19 | 6.30 | 1.78 |
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., P/S, long-term trends, comparison to sector (health care equipment & services)
| Boston Scientific Corp. | Health Care Equipment & Services | |
|---|---|---|
| Feb 23, 2023 | 5.34 | 64,004.93 |
| Feb 23, 2022 | 5.25 | 1.48 |
| Feb 23, 2021 | 5.54 | 1.29 |
| Feb 25, 2020 | 5.19 | 1.21 |
| Feb 19, 2019 | 5.62 | 1.25 |
| Feb 20, 2018 | 4.08 | 1.16 |
| Feb 23, 2017 | 3.98 | 1.00 |
| Feb 24, 2016 | 3.13 | 0.98 |
| Feb 25, 2015 | 3.05 | 1.08 |
| Feb 26, 2014 | 2.47 | 0.84 |
| Feb 22, 2013 | 1.38 | 0.73 |
| Feb 17, 2012 | 1.16 | 0.88 |
| Feb 17, 2011 | 1.44 | 0.80 |
| Feb 26, 2010 | 1.43 | 0.84 |
| Feb 27, 2009 | 1.31 | 0.87 |
| Feb 28, 2008 | 2.27 | 1.26 |
| Mar 1, 2007 | 3.07 | 1.42 |
| Mar 1, 2006 | 3.14 | 1.82 |
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., P/S, long-term trends, comparison to industry (health care)
| Boston Scientific Corp. | Health Care | |
|---|---|---|
| Feb 23, 2023 | 5.34 | 39,755.53 |
| Feb 23, 2022 | 5.25 | 2.65 |
| Feb 23, 2021 | 5.54 | 2.59 |
| Feb 25, 2020 | 5.19 | 2.51 |
| Feb 19, 2019 | 5.62 | 2.51 |
| Feb 20, 2018 | 4.08 | 2.49 |
| Feb 23, 2017 | 3.98 | 2.29 |
| Feb 24, 2016 | 3.13 | 2.30 |
| Feb 25, 2015 | 3.05 | 2.62 |
| Feb 26, 2014 | 2.47 | 2.38 |
| Feb 22, 2013 | 1.38 | 1.87 |
| Feb 17, 2012 | 1.16 | 1.66 |
| Feb 17, 2011 | 1.44 | 1.57 |
| Feb 26, 2010 | 1.43 | 1.77 |
| Feb 27, 2009 | 1.31 | 1.47 |
| Feb 28, 2008 | 2.27 | 2.14 |
| Mar 1, 2007 | 3.07 | 2.60 |
| Mar 1, 2006 | 3.14 | 2.90 |
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).