Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Boston Scientific Corp. (NYSE:BSX)

Analysis of Profitability Ratios

Beginner level


Profitability Ratios (Summary)

Boston Scientific Corp., profitability ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Return on Sales
Gross profit margin 70.98% 71.37% 71.34% 71.09% 70.94%
Operating profit margin 14.14% 15.33% 14.20% 5.33% -4.37%
Net profit margin 43.78% 17.01% 1.15% 4.14% -3.20%
Return on Investment
Return on equity (ROE) 33.87% 19.15% 1.48% 5.15% -3.78%
Return on assets (ROA) 15.38% 7.96% 0.55% 1.92% -1.32%

Based on: 10-K (filing date: 2020-02-25), 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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Boston Scientific Corp.’s gross profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Boston Scientific Corp.’s operating profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Boston Scientific Corp.’s net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Boston Scientific Corp.’s ROE improved from 2017 to 2018 and from 2018 to 2019.
ROA A profitability ratio calculated as net income divided by total assets. Boston Scientific Corp.’s ROA improved from 2017 to 2018 and from 2018 to 2019.

Gross Profit Margin

Boston Scientific Corp., gross profit margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Gross profit 7,620  7,011  6,455  5,962  5,304 
Net sales 10,735  9,823  9,048  8,386  7,477 
Profitability Ratio
Gross profit margin1 70.98% 71.37% 71.34% 71.09% 70.94%
Benchmarks
Gross Profit Margin, Competitors2
Becton, Dickinson & Co. 47.94% 45.44% 49.14% 47.99% 45.66%
Danaher Corp. 55.74% 55.83% 55.61% 55.29% 52.34%
Intuitive Surgical Inc. 69.45% 69.92% 70.12% 69.89% 66.18%
Medtronic PLC 70.04% 69.77% 68.73% 68.29% 68.86%
Stryker Corp. 65.14% 65.72% 65.68% 66.18% 66.38%
Thermo Fisher Scientific Inc. 44.35% 44.57% 45.15% 45.80% 45.72%
UnitedHealth Group Inc. 23.19% 23.33% 22.98% 23.13% 23.22%

Based on: 10-K (filing date: 2020-02-25), 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).

1 2019 Calculation
Gross profit margin = 100 × Gross profit ÷ Net sales
= 100 × 7,620 ÷ 10,735 = 70.98%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Boston Scientific Corp.’s gross profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Operating Profit Margin

Boston Scientific Corp., operating profit margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Operating income (loss) 1,518  1,506  1,285  447  (327)
Net sales 10,735  9,823  9,048  8,386  7,477 
Profitability Ratio
Operating profit margin1 14.14% 15.33% 14.20% 5.33% -4.37%
Benchmarks
Operating Profit Margin, Competitors2
Becton, Dickinson & Co. 10.18% 9.37% 12.22% 11.46% 10.45%
Danaher Corp. 18.25% 17.11% 16.48% 16.29% 16.87%
Intuitive Surgical Inc. 30.69% 32.21% 33.71% 34.95% 31.04%
Medtronic PLC 20.51% 22.20% 17.94% 18.35% 18.59%
Stryker Corp. 18.23% 18.65% 18.40% 19.13% 18.71%
Thermo Fisher Scientific Inc. 17.99% 15.53% 14.19% 13.40% 13.77%
UnitedHealth Group Inc. 8.19% 7.71% 7.60% 7.03% 7.05%
Operating Profit Margin, Sector
Health Care Equipment & Services 11.39% 11.08% 10.67% 10.04% 9.80%
Operating Profit Margin, Industry
Health Care 18.22% 17.00% 17.46% 19.35% 19.17%

Based on: 10-K (filing date: 2020-02-25), 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).

1 2019 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × 1,518 ÷ 10,735 = 14.14%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Boston Scientific Corp.’s operating profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Net Profit Margin

Boston Scientific Corp., net profit margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) 4,700  1,671  104  347  (239)
Net sales 10,735  9,823  9,048  8,386  7,477 
Profitability Ratio
Net profit margin1 43.78% 17.01% 1.15% 4.14% -3.20%
Benchmarks
Net Profit Margin, Competitors2
Becton, Dickinson & Co. 7.13% 1.95% 9.10% 7.82% 6.76%
Danaher Corp. 16.80% 13.33% 13.60% 15.13% 16.33%
Intuitive Surgical Inc. 30.80% 30.29% 21.09% 27.21% 24.69%
Medtronic PLC 15.16% 10.36% 13.56% 12.27% 13.20%
Stryker Corp. 13.99% 26.12% 8.20% 14.54% 14.47%
Thermo Fisher Scientific Inc. 14.47% 12.06% 10.64% 11.06% 11.64%
UnitedHealth Group Inc. 5.76% 5.33% 5.28% 3.81% 3.72%
Net Profit Margin, Sector
Health Care Equipment & Services 9.56% 7.99% 7.26% 6.66% 6.67%
Net Profit Margin, Industry
Health Care 15.78% 13.31% 9.28% 16.45% 15.70%

Based on: 10-K (filing date: 2020-02-25), 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).

1 2019 Calculation
Net profit margin = 100 × Net income (loss) ÷ Net sales
= 100 × 4,700 ÷ 10,735 = 43.78%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Boston Scientific Corp.’s net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019.

Return on Equity (ROE)

Boston Scientific Corp., ROE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) 4,700  1,671  104  347  (239)
Stockholders’ equity 13,877  8,726  7,012  6,733  6,320 
Profitability Ratio
ROE1 33.87% 19.15% 1.48% 5.15% -3.78%
Benchmarks
ROE, Competitors2
Becton, Dickinson & Co. 5.85% 1.48% 8.50% 12.79% 9.70%
Danaher Corp. 9.94% 9.40% 9.45% 11.10% 14.17%
Intuitive Surgical Inc. 16.69% 16.89% 13.97% 12.74% 13.63%
Medtronic PLC 9.25% 6.12% 8.01% 6.80% 5.03%
Stryker Corp. 16.26% 30.29% 10.23% 17.25% 16.91%
Thermo Fisher Scientific Inc. 12.45% 10.65% 8.76% 9.39% 9.25%
UnitedHealth Group Inc. 24.02% 23.19% 22.10% 18.33% 17.18%
ROE, Sector
Health Care Equipment & Services 15.45% 13.25% 12.03% 11.45% 10.29%
ROE, Industry
Health Care 20.57% 18.04% 11.16% 19.21% 16.89%

Based on: 10-K (filing date: 2020-02-25), 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).

1 2019 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 4,700 ÷ 13,877 = 33.87%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Boston Scientific Corp.’s ROE improved from 2017 to 2018 and from 2018 to 2019.

Return on Assets (ROA)

Boston Scientific Corp., ROA calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) 4,700  1,671  104  347  (239)
Total assets 30,565  20,999  19,042  18,096  18,133 
Profitability Ratio
ROA1 15.38% 7.96% 0.55% 1.92% -1.32%
Benchmarks
ROA, Competitors2
Becton, Dickinson & Co. 2.38% 0.58% 2.92% 3.81% 2.59%
Danaher Corp. 4.85% 5.54% 5.34% 5.64% 6.96%
Intuitive Surgical Inc. 14.17% 14.37% 11.46% 11.34% 12.00%
Medtronic PLC 5.16% 3.40% 4.04% 3.55% 2.51%
Stryker Corp. 6.90% 13.05% 4.60% 8.06% 8.86%
Thermo Fisher Scientific Inc. 6.33% 5.22% 3.93% 4.40% 4.83%
UnitedHealth Group Inc. 7.96% 7.87% 7.59% 5.71% 5.22%
ROA, Sector
Health Care Equipment & Services 6.83% 5.97% 5.20% 4.90% 4.37%
ROA, Industry
Health Care 7.78% 7.12% 4.46% 7.97% 7.29%

Based on: 10-K (filing date: 2020-02-25), 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).

1 2019 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 4,700 ÷ 30,565 = 15.38%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Boston Scientific Corp.’s ROA improved from 2017 to 2018 and from 2018 to 2019.