Boston Scientific Corp. (BSX)
Analysis of Liquidity Ratios
Beginner level
Liquidity ratios measure the company’s ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Boston Scientific Corp., liquidity ratios
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.76 | 0.68 | 0.90 | 1.43 | 1.27 | |
| Quick ratio | 0.33 | 0.31 | 0.47 | 0.66 | 0.62 | |
| Cash ratio | 0.03 | 0.03 | 0.05 | 0.13 | 0.21 |
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Boston Scientific Corp.’s current ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Boston Scientific Corp.’s quick ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Boston Scientific Corp.’s cash ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
Current Ratio
Boston Scientific Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 4,003 | 3,822 | 3,239 | 3,471 | 3,606 | |
| Current liabilities | 5,260 | 5,654 | 3,587 | 2,430 | 2,846 | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.76 | 0.68 | 0.90 | 1.43 | 1.27 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Becton, Dickinson & Co. | 1.03 | 5.58 | 1.45 | 1.38 | 2.74 | |
| Intuitive Surgical Inc. | 5.28 | 3.99 | 5.45 | 4.46 | 3.69 | |
| Medtronic PLC | 2.28 | 1.75 | 3.29 | 3.36 | 3.82 | |
| Stryker Corp. | 2.02 | 2.29 | 2.50 | 2.27 | 2.17 | |
| Thermo Fisher Scientific Inc. | 1.73 | 1.34 | 1.44 | 1.38 | 1.22 | |
| UnitedHealth Group Inc. | 0.73 | 0.73 | 0.69 | 0.74 | 0.77 | |
| Current Ratio, Sector | ||||||
| Health Care Equipment & Services | 1.12 | 1.23 | 1.17 | 1.31 | 1.41 | |
| Current Ratio, Industry | ||||||
| Health Care | 1.50 | 1.59 | 1.79 | 1.70 | 1.94 | |
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
1 2018 Calculation
Current ratio = Current assets ÷ Current liabilities
= 4,003 ÷ 5,260 = 0.76
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Boston Scientific Corp.’s current ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |
Quick Ratio
Boston Scientific Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 146 | 188 | 196 | 319 | 587 | |
| Trade accounts receivable, net | 1,608 | 1,548 | 1,472 | 1,275 | 1,183 | |
| Total quick assets | 1,754 | 1,736 | 1,668 | 1,594 | 1,770 | |
| Current liabilities | 5,260 | 5,654 | 3,587 | 2,430 | 2,846 | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.33 | 0.31 | 0.47 | 0.66 | 0.62 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Becton, Dickinson & Co. | 0.50 | 4.77 | 0.72 | 0.70 | 1.76 | |
| Intuitive Surgical Inc. | 4.56 | 3.51 | 5.00 | 3.97 | 3.09 | |
| Medtronic PLC | 1.71 | 1.36 | 2.54 | 2.68 | 3.25 | |
| Stryker Corp. | 1.25 | 1.43 | 1.70 | 1.64 | 1.47 | |
| Thermo Fisher Scientific Inc. | 1.01 | 0.74 | 0.79 | 0.72 | 0.71 | |
| UnitedHealth Group Inc. | 0.61 | 0.62 | 0.59 | 0.61 | 0.62 | |
| Quick Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.81 | 0.95 | 0.88 | 0.99 | 1.06 | |
| Quick Ratio, Industry | ||||||
| Health Care | 1.10 | 1.23 | 1.40 | 1.29 | 1.44 | |
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
1 2018 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 1,754 ÷ 5,260 = 0.33
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Boston Scientific Corp.’s quick ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |
Cash Ratio
Boston Scientific Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 146 | 188 | 196 | 319 | 587 | |
| Total cash assets | 146 | 188 | 196 | 319 | 587 | |
| Current liabilities | 5,260 | 5,654 | 3,587 | 2,430 | 2,846 | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.03 | 0.03 | 0.05 | 0.13 | 0.21 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Becton, Dickinson & Co. | 0.17 | 4.25 | 0.36 | 0.33 | 1.23 | |
| Intuitive Surgical Inc. | 3.73 | 2.78 | 4.28 | 3.17 | 2.46 | |
| Medtronic PLC | 1.11 | 0.96 | 1.76 | 2.12 | 2.56 | |
| Stryker Corp. | 0.77 | 0.80 | 1.07 | 1.16 | 1.12 | |
| Thermo Fisher Scientific Inc. | 0.34 | 0.19 | 0.16 | 0.11 | 0.25 | |
| UnitedHealth Group Inc. | 0.27 | 0.31 | 0.27 | 0.30 | 0.30 | |
| Cash Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.41 | 0.58 | 0.47 | 0.60 | 0.67 | |
| Cash Ratio, Industry | ||||||
| Health Care | 0.71 | 0.84 | 0.99 | 0.90 | 1.03 | |
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
1 2018 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 146 ÷ 5,260 = 0.03
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Boston Scientific Corp.’s cash ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |