Stock Analysis on Net
Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

$22.49

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

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Calculation

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

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
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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

Net Sales
Net sales exhibited a generally upward trajectory from 2005 to 2022. The figure increased from approximately $6.3 billion in 2005 to nearly $12.7 billion in 2022, indicating significant revenue growth over the period. There were occasional fluctuations, such as a slight decline in 2008 and 2010–2012, but the overall trend was positive, especially notable from 2013 onward where net sales consistently exceeded $7 billion and continued rising steadily.
Total Assets
Total assets showed substantial volatility early in the period, with a marked spike in 2006 to over $31 billion from about $8.2 billion in 2005, followed by a gradual decline to approximately $17 billion by 2012. Post-2012, total assets trended upward again, reaching around $32.5 billion by 2022. This pattern suggests possible strategic changes or asset revaluation occurring around the mid-2000s, with stabilization and growth in asset base in the later years.
Total Asset Turnover Ratio
The total asset turnover ratio remained relatively low in the mid-2000s, starting at 0.77 in 2005 but dropping sharply to around 0.25 in 2006 and remaining low until 2008. Following this dip, the ratio gradually improved through the early 2010s, peaking near 0.48 in 2017, indicating a higher efficiency in asset utilization to generate sales. However, after 2017, the ratio declined again to a range of 0.32 to 0.39 by 2022, reflecting a slight reduction in asset efficiency despite the increased asset base and net sales.
Summary and Insights
The company demonstrated strong revenue growth over the analyzed period, with net sales nearly doubling from 2005 to 2022. Total assets saw large fluctuations, particularly a dramatic increase and subsequent decrease in the mid-2000s, followed by steady growth afterward. The asset turnover ratio indicates mixed efficiency trends; the early sharp decline may reflect asset accumulation or restructuring, while mid-period improvements suggest better asset utilization. The recent decline in turnover ratio despite rising sales and assets could signal the need to monitor asset productivity closely in the future.

Comparison to Competitors

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

Microsoft Excel
Boston Scientific Corp. Abbott Laboratories CVS Health Corp. Elevance Health Inc. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
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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
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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
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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).