Return on Assets (ROA)
since 2005
Calculation
Boston Scientific Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 2.15% | = | 100 | × | 698) | ÷ | 32,469) |
| Dec 31, 2021 | 3.23% | = | 100 | × | 1,041) | ÷ | 32,229) |
| Dec 31, 2020 | -0.27% | = | 100 | × | (82) | ÷ | 30,777) |
| Dec 31, 2019 | 15.38% | = | 100 | × | 4,700) | ÷ | 30,565) |
| Dec 31, 2018 | 7.96% | = | 100 | × | 1,671) | ÷ | 20,999) |
| Dec 31, 2017 | 0.55% | = | 100 | × | 104) | ÷ | 19,042) |
| Dec 31, 2016 | 1.92% | = | 100 | × | 347) | ÷ | 18,096) |
| Dec 31, 2015 | -1.32% | = | 100 | × | (239) | ÷ | 18,133) |
| Dec 31, 2014 | -0.70% | = | 100 | × | (119) | ÷ | 17,042) |
| Dec 31, 2013 | -0.73% | = | 100 | × | (121) | ÷ | 16,571) |
| Dec 31, 2012 | -23.71% | = | 100 | × | (4,068) | ÷ | 17,154) |
| Dec 31, 2011 | 2.07% | = | 100 | × | 441) | ÷ | 21,290) |
| Dec 31, 2010 | -4.81% | = | 100 | × | (1,065) | ÷ | 22,128) |
| Dec 31, 2009 | -4.07% | = | 100 | × | (1,025) | ÷ | 25,177) |
| Dec 31, 2008 | -7.50% | = | 100 | × | (2,036) | ÷ | 27,139) |
| Dec 31, 2007 | -1.59% | = | 100 | × | (495) | ÷ | 31,197) |
| Dec 31, 2006 | -11.50% | = | 100 | × | (3,577) | ÷ | 31,096) |
| Dec 31, 2005 | 7.66% | = | 100 | × | 628) | ÷ | 8,196) |
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 Return on Assets (ROA) exhibits significant volatility over the analyzed seventeen-year period, characterized by a prolonged phase of instability followed by a period of recovery and a subsequent stabilization at lower positive levels.
- Period of Instability and Negative Returns (2006–2015)
- Following a positive ROA of 7.66% in 2005, a sharp decline occurred in 2006, with ROA falling to -11.50%. This coincided with a substantial increase in total assets from approximately 8.2 billion USD to 31.1 billion USD. Between 2006 and 2015, the ROA remained predominantly negative, reflecting consistent net losses. A notable trough occurred in 2012, where the ROA reached its lowest point at -23.71%, driven by a net loss of 4.07 billion USD against assets of 17.2 billion USD.
- Recovery and Peak Performance (2016–2019)
- A transition to sustained profitability began in 2016, with the ROA turning positive at 1.92%. This upward trajectory accelerated significantly in 2018 and 2019. The peak efficiency was reached in 2019, with an ROA of 15.38%, supported by the highest recorded net income of 4.7 billion USD. This period represents the most efficient utilization of assets in the entire dataset.
- Recent Performance Trends (2020–2022)
- The high performance of 2019 was interrupted in 2020 by a marginal net loss of 82 million USD, resulting in a slightly negative ROA of -0.27%. However, the ROA returned to positive territory in 2021 at 3.23% and moderated to 2.15% by the end of 2022. While these levels are significantly lower than the 2019 peak, they indicate a more stable, positive return compared to the volatility observed between 2006 and 2015.
- Asset Base Evolution
- The total asset base experienced a massive expansion in 2006, followed by a gradual contraction until 2014, when assets bottomed at approximately 16.6 billion USD. From 2015 onward, the asset base grew steadily, reaching 32.5 billion USD by 2022. The relationship between the growing asset base and net income suggests that while the company has expanded its scale, the resulting ROA has remained moderate in recent years.
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Comparison to Competitors
Boston Scientific Corp., ROA, 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 | 2.15% | 9.31% | 5.86% | 10.19% | 5.54% | 8.19% |
| Dec 31, 2021 | 3.23% | 9.40% | 6.26% | 12.58% | 3.87% | 8.15% |
| Dec 31, 2020 | -0.27% | 6.20% | 5.28% | 9.50% | 5.28% | 7.81% |
| Dec 31, 2019 | 15.38% | 5.43% | 6.21% | 14.17% | 5.16% | 7.96% |
| Dec 31, 2018 | 7.96% | 3.53% | 5.24% | 14.37% | 3.40% | 7.87% |
| Dec 31, 2017 | 0.55% | 0.63% | 5.45% | 11.46% | 4.04% | 7.59% |
| Dec 31, 2016 | 1.92% | 2.66% | 3.79% | 11.34% | 3.55% | 5.71% |
| Dec 31, 2015 | -1.32% | 10.72% | 4.15% | 12.00% | 2.51% | 5.22% |
| Dec 31, 2014 | -0.70% | 5.53% | 4.14% | 10.58% | 8.08% | 6.50% |
| Dec 31, 2013 | -0.73% | 6.00% | 4.18% | 16.99% | 9.95% | 6.87% |
| Dec 31, 2012 | -23.71% | 8.87% | 4.50% | 16.18% | 10.93% | 6.83% |
| Dec 31, 2011 | 2.07% | 7.84% | 5.09% | 16.16% | 10.18% | 7.57% |
| Dec 31, 2010 | -4.81% | 7.78% | 5.75% | 15.97% | 11.03% | 7.35% |
| Dec 31, 2009 | -4.07% | 10.96% | 9.10% | 12.85% | 9.17% | 6.47% |
| Dec 31, 2008 | -7.50% | 11.51% | 5.15% | 13.86% | 10.05% | 5.33% |
| Dec 31, 2007 | -1.59% | 9.08% | 6.43% | 13.90% | 14.36% | 9.14% |
| Dec 31, 2006 | -11.50% | 4.75% | 5.98% | 10.72% | 12.95% | 8.61% |
| Dec 31, 2005 | 7.66% | 11.57% | 4.79% | 18.77% | 10.86% | 7.98% |
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).
Comparison to Sector (Health Care Equipment & Services)
Boston Scientific Corp., ROA, long-term trends, comparison to sector (health care equipment & services)
| Boston Scientific Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2022 | 2.15% | 7.49% |
| Dec 31, 2021 | 3.23% | 7.28% |
| Dec 31, 2020 | -0.27% | 6.62% |
| Dec 31, 2019 | 15.38% | 6.77% |
| Dec 31, 2018 | 7.96% | 5.72% |
| Dec 31, 2017 | 0.55% | 5.00% |
| Dec 31, 2016 | 1.92% | 4.37% |
| Dec 31, 2015 | -1.32% | 4.93% |
| Dec 31, 2014 | -0.70% | 6.03% |
| Dec 31, 2013 | -0.73% | 6.64% |
| Dec 31, 2012 | -23.71% | 7.54% |
| Dec 31, 2011 | 2.07% | 7.54% |
| Dec 31, 2010 | -4.81% | 7.69% |
| Dec 31, 2009 | -4.07% | 8.84% |
| Dec 31, 2008 | -7.50% | 7.51% |
| Dec 31, 2007 | -1.59% | 8.92% |
| Dec 31, 2006 | -11.50% | 7.40% |
| Dec 31, 2005 | 7.66% | 7.94% |
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., ROA, long-term trends, comparison to industry (health care)
| Boston Scientific Corp. | Health Care | |
|---|---|---|
| Dec 31, 2022 | 2.15% | 9.66% |
| Dec 31, 2021 | 3.23% | 9.46% |
| Dec 31, 2020 | -0.27% | 5.81% |
| Dec 31, 2019 | 15.38% | 8.32% |
| Dec 31, 2018 | 7.96% | 7.90% |
| Dec 31, 2017 | 0.55% | 5.19% |
| Dec 31, 2016 | 1.92% | 7.31% |
| Dec 31, 2015 | -1.32% | 7.71% |
| Dec 31, 2014 | -0.70% | 8.59% |
| Dec 31, 2013 | -0.73% | 8.76% |
| Dec 31, 2012 | -23.71% | 8.09% |
| Dec 31, 2011 | 2.07% | 7.36% |
| Dec 31, 2010 | -4.81% | 7.24% |
| Dec 31, 2009 | -4.07% | 9.73% |
| Dec 31, 2008 | -7.50% | 9.50% |
| Dec 31, 2007 | -1.59% | 8.88% |
| Dec 31, 2006 | -11.50% | 10.52% |
| Dec 31, 2005 | 7.66% | 9.67% |
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).