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Boston Scientific Corp. (NYSE:BSX)

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Total Asset Turnover
since 2005

Microsoft Excel

Calculation

Boston Scientific Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
Dec 31, 2022 0.39 = 12,682 ÷ 32,469
Dec 31, 2021 0.37 = 11,888 ÷ 32,229
Dec 31, 2020 0.32 = 9,913 ÷ 30,777
Dec 31, 2019 0.35 = 10,735 ÷ 30,565
Dec 31, 2018 0.47 = 9,823 ÷ 20,999
Dec 31, 2017 0.48 = 9,048 ÷ 19,042
Dec 31, 2016 0.46 = 8,386 ÷ 18,096
Dec 31, 2015 0.41 = 7,477 ÷ 18,133
Dec 31, 2014 0.43 = 7,380 ÷ 17,042
Dec 31, 2013 0.43 = 7,143 ÷ 16,571
Dec 31, 2012 0.42 = 7,249 ÷ 17,154
Dec 31, 2011 0.36 = 7,622 ÷ 21,290
Dec 31, 2010 0.35 = 7,806 ÷ 22,128
Dec 31, 2009 0.33 = 8,188 ÷ 25,177
Dec 31, 2008 0.30 = 8,050 ÷ 27,139
Dec 31, 2007 0.27 = 8,357 ÷ 31,197
Dec 31, 2006 0.25 = 7,821 ÷ 31,096
Dec 31, 2005 0.77 = 6,283 ÷ 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 total asset turnover ratio exhibited significant volatility between 2005 and 2022, characterized by an initial sharp contraction, a prolonged period of efficiency recovery, and a subsequent dilution resulting from asset base expansion.

Initial Asset Expansion and Ratio Contraction (2005-2006)
A substantial decline in asset turnover is observed between 2005 and 2006, where the ratio fell from 0.77 to 0.25. This contraction was driven by a rapid increase in total assets, which grew from 8,196 million to 31,096 million, while net sales grew at a significantly slower pace, increasing from 6,283 million to 7,821 million.
Operational Efficiency Recovery (2007-2017)
A consistent upward trend in the total asset turnover ratio was maintained from 2007 through 2017, peaking at 0.48. This improvement was primarily facilitated by a systematic reduction in total assets, which declined from 31,197 million in 2007 to a minimum of 16,571 million in 2013. During the latter part of this period, from 2016 to 2017, the ratio was further bolstered by accelerating net sales, which rose from 8,386 million to 9,048 million.
Secondary Asset Surge and Stabilization (2018-2022)
The ratio experienced a secondary decline starting in 2019, dropping to 0.32 by 2020. This movement correlates with a significant expansion of the asset base, which increased from 20,999 million in 2018 to 30,565 million in 2019. Despite this increased asset load, a recovery in the ratio to 0.39 by 2022 is evident, supported by net sales reaching a period high of 12,682 million.

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Comparison to Competitors

Boston Scientific Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Boston Scientific Corp. Abbott Laboratories Elevance Health Inc. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
Dec 31, 2022 0.39 0.59 1.51 0.48 0.35 1.31
Dec 31, 2021 0.37 0.57 1.41 0.42 0.32 1.34
Dec 31, 2020 0.32 0.48 1.39 0.39 0.32 1.30
Dec 31, 2019 0.35 0.47 1.33 0.46 0.34 1.38
Dec 31, 2018 0.47 0.46 1.28 0.47 0.33 1.48
Dec 31, 2017 0.48 0.36 1.26 0.54 0.30 1.44
Dec 31, 2016 0.46 0.40 1.29 0.42 0.29 1.50
Dec 31, 2015 0.41 0.49 1.27 0.49 0.19 1.40
Dec 31, 2014 0.43 0.49 1.18 0.54 0.45 1.50
Dec 31, 2013 0.43 0.51 1.18 0.57 0.48 1.49
Dec 31, 2012 0.42 0.59 1.03 0.54 0.49 1.36
Dec 31, 2011 0.36 0.64 1.15 0.57 0.52 1.49
Dec 31, 2010 0.35 0.59 1.15 0.59 0.56 1.48
Dec 31, 2009 0.33 0.59 1.17 0.58 0.62 1.47
Dec 31, 2008 0.30 0.70 1.27 0.59 0.61 1.44
Dec 31, 2007 0.27 0.65 1.15 0.58 0.63 1.46
Dec 31, 2006 0.25 0.62 1.08 0.55 0.57 1.46
Dec 31, 2005 0.77 0.77 0.87 0.45 0.61 1.08

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., total asset turnover, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel
Boston Scientific Corp. Health Care Equipment & Services
Dec 31, 2022 0.39 1.06
Dec 31, 2021 0.37 1.02
Dec 31, 2020 0.32 0.97
Dec 31, 2019 0.35 0.98
Dec 31, 2018 0.47 0.98
Dec 31, 2017 0.48 0.89
Dec 31, 2016 0.46 0.92
Dec 31, 2015 0.41 0.85
Dec 31, 2014 0.43 1.05
Dec 31, 2013 0.43 1.04
Dec 31, 2012 0.42 0.94
Dec 31, 2011 0.36 1.02
Dec 31, 2010 0.35 1.00
Dec 31, 2009 0.33 1.03
Dec 31, 2008 0.30 1.09
Dec 31, 2007 0.27 1.06
Dec 31, 2006 0.25 1.03
Dec 31, 2005 0.77 0.88

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., total asset turnover, long-term trends, comparison to industry (health care)

Microsoft Excel
Boston Scientific Corp. Health Care
Dec 31, 2022 0.39 0.66
Dec 31, 2021 0.37 0.62
Dec 31, 2020 0.32 0.57
Dec 31, 2019 0.35 0.57
Dec 31, 2018 0.47 0.63
Dec 31, 2017 0.48 0.56
Dec 31, 2016 0.46 0.57
Dec 31, 2015 0.41 0.55
Dec 31, 2014 0.43 0.60
Dec 31, 2013 0.43 0.58
Dec 31, 2012 0.42 0.58
Dec 31, 2011 0.36 0.61
Dec 31, 2010 0.35 0.61
Dec 31, 2009 0.33 0.55
Dec 31, 2008 0.30 0.73
Dec 31, 2007 0.27 0.71
Dec 31, 2006 0.25 0.69
Dec 31, 2005 0.77 0.66

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).