Stock Analysis on Net
Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

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

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Boston Scientific Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.39 0.37 0.32 0.35 0.47
Adjusted 0.44 0.42 0.37 0.41 0.46
Liquidity Ratio
Current Ratio
Reported 1.51 1.48 1.82 0.97 0.76
Adjusted 1.64 1.58 1.92 1.01 0.77
Solvency Ratios
Debt to Equity
Reported 0.51 0.55 0.60 0.72 0.81
Adjusted 0.65 0.71 0.80 0.96 0.82
Debt to Capital
Reported 0.34 0.35 0.37 0.42 0.45
Adjusted 0.39 0.42 0.44 0.49 0.45
Financial Leverage
Reported 1.85 1.94 2.01 2.20 2.41
Adjusted 1.99 2.11 2.21 2.46 2.36
Profitability Ratios
Net Profit Margin
Reported 5.50% 8.76% -0.83% 43.78% 17.01%
Adjusted 5.69% 8.73% -2.06% 6.34% 16.29%
Return on Equity (ROE)
Reported 3.97% 6.26% -0.54% 33.87% 19.15%
Adjusted 5.02% 7.82% -1.69% 6.34% 17.71%
Return on Assets (ROA)
Reported 2.15% 3.23% -0.27% 15.38% 7.96%
Adjusted 2.52% 3.71% -0.76% 2.58% 7.52%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Boston Scientific Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Boston Scientific Corp. adjusted current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Boston Scientific Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Boston Scientific Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Boston Scientific Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Boston Scientific Corp. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Boston Scientific Corp. adjusted ROE improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Boston Scientific Corp. adjusted ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Boston Scientific Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net sales 12,682 11,888 9,913 10,735 9,823
Total assets 32,469 32,229 30,777 30,565 20,999
Activity Ratio
Total asset turnover1 0.39 0.37 0.32 0.35 0.47
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net sales2 12,707 11,977 9,908 10,762 9,823
Adjusted total assets3 28,636 28,195 26,672 26,443 21,288
Activity Ratio
Adjusted total asset turnover4 0.44 0.42 0.37 0.41 0.46

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).

1 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= 12,682 ÷ 32,469 = 0.39

2 Adjusted net sales. See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted total asset turnover = Adjusted net sales ÷ Adjusted total assets
= 12,707 ÷ 28,636 = 0.44

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Boston Scientific Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Current assets 5,760 6,317 6,694 4,699 4,003
Current liabilities 3,803 4,274 3,681 4,866 5,260
Liquidity Ratio
Current ratio1 1.51 1.48 1.82 0.97 0.76
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 5,869 6,425 6,799 4,773 4,071
Adjusted current liabilities3 3,583 4,066 3,543 4,722 5,260
Liquidity Ratio
Adjusted current ratio4 1.64 1.58 1.92 1.01 0.77

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).

1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 5,760 ÷ 3,803 = 1.51

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2022 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 5,869 ÷ 3,583 = 1.64

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Boston Scientific Corp. adjusted current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 8,935 9,065 9,143 10,008 7,056
Stockholders’ equity 17,573 16,622 15,326 13,877 8,726
Solvency Ratio
Debt to equity1 0.51 0.55 0.60 0.72 0.81
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 9,343 9,525 9,614 10,351 7,364
Adjusted stockholders’ equity3 14,392 13,381 12,092 10,750 9,035
Solvency Ratio
Adjusted debt to equity4 0.65 0.71 0.80 0.96 0.82

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).

1 2022 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 8,935 ÷ 17,573 = 0.51

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 9,343 ÷ 14,392 = 0.65

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Boston Scientific Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 8,935 9,065 9,143 10,008 7,056
Total capital 26,508 25,687 24,469 23,885 15,782
Solvency Ratio
Debt to capital1 0.34 0.35 0.37 0.42 0.45
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 9,343 9,525 9,614 10,351 7,364
Adjusted total capital3 23,735 22,906 21,706 21,101 16,399
Solvency Ratio
Adjusted debt to capital4 0.39 0.42 0.44 0.49 0.45

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).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,935 ÷ 26,508 = 0.34

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 9,343 ÷ 23,735 = 0.39

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Boston Scientific Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets 32,469 32,229 30,777 30,565 20,999
Stockholders’ equity 17,573 16,622 15,326 13,877 8,726
Solvency Ratio
Financial leverage1 1.85 1.94 2.01 2.20 2.41
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 28,636 28,195 26,672 26,443 21,288
Adjusted stockholders’ equity3 14,392 13,381 12,092 10,750 9,035
Solvency Ratio
Adjusted financial leverage4 1.99 2.11 2.21 2.46 2.36

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).

1 2022 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 32,469 ÷ 17,573 = 1.85

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 28,636 ÷ 14,392 = 1.99

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Boston Scientific Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 698 1,041 (82) 4,700 1,671
Net sales 12,682 11,888 9,913 10,735 9,823
Profitability Ratio
Net profit margin1 5.50% 8.76% -0.83% 43.78% 17.01%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 723 1,046 (204) 682 1,600
Adjusted net sales3 12,707 11,977 9,908 10,762 9,823
Profitability Ratio
Adjusted net profit margin4 5.69% 8.73% -2.06% 6.34% 16.29%

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).

1 2022 Calculation
Net profit margin = 100 × Net income (loss) ÷ Net sales
= 100 × 698 ÷ 12,682 = 5.50%

2 Adjusted net income (loss). See details »

3 Adjusted net sales. See details »

4 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Adjusted net sales
= 100 × 723 ÷ 12,707 = 5.69%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Boston Scientific Corp. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 698 1,041 (82) 4,700 1,671
Stockholders’ equity 17,573 16,622 15,326 13,877 8,726
Profitability Ratio
ROE1 3.97% 6.26% -0.54% 33.87% 19.15%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 723 1,046 (204) 682 1,600
Adjusted stockholders’ equity3 14,392 13,381 12,092 10,750 9,035
Profitability Ratio
Adjusted ROE4 5.02% 7.82% -1.69% 6.34% 17.71%

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).

1 2022 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 698 ÷ 17,573 = 3.97%

2 Adjusted net income (loss). See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 723 ÷ 14,392 = 5.02%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Boston Scientific Corp. adjusted ROE improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 698 1,041 (82) 4,700 1,671
Total assets 32,469 32,229 30,777 30,565 20,999
Profitability Ratio
ROA1 2.15% 3.23% -0.27% 15.38% 7.96%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 723 1,046 (204) 682 1,600
Adjusted total assets3 28,636 28,195 26,672 26,443 21,288
Profitability Ratio
Adjusted ROA4 2.52% 3.71% -0.76% 2.58% 7.52%

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).

1 2022 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 698 ÷ 32,469 = 2.15%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 723 ÷ 28,636 = 2.52%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Boston Scientific Corp. adjusted ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.