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.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Boston Scientific Corp., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income (loss) 698 1,041 (82) 4,700 1,671
Net noncash charges 1,833 1,180 1,548 (2,568) 808
Increase (decrease) in operating assets and liabilities, excluding purchase accounting (1,005) (351) 42 (296) (2,169)
Cash provided by operating activities 1,526 1,870 1,508 1,836 310
Purchases of property, plant and equipment and internal use software (588) (554) (376) (461) (316)
Proceeds from sale of property, plant and equipment 12 14 12 7 14
Payments on short-term borrowings (250) (2,950) (1,000)
Proceeds from short-term borrowings, net of debt issuance costs 2,245 700 999
Net increase (decrease) in commercial paper (1) (714) (575) 21
Payments on borrowings from credit facilities (1,919) (569)
Proceeds from borrowings on credit facilities 1,916 569
Payments on long-term borrowings and debt extinguishment costs (3,184) (1,260) (3,560) (602)
Proceeds from long-term borrowings, net of debt issuance costs 3,270 1,683 7,229 987
Free cash flow to equity (FCFE) 785 1,330 145 4,176 1,413

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Boston Scientific Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Boston Scientific Corp. FCFE increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

Price to FCFE Ratio, Current

Boston Scientific Corp., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 1,437,698,101
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 785
FCFE per share 0.55
Current share price (P) 51.94
Valuation Ratio
P/FCFE 95.13
Benchmarks
P/FCFE, Competitors1
Abbott Laboratories 76.32
Cigna Group 10.66
CVS Health Corp. 5.48
Danaher Corp. 52.88
Elevance Health Inc. 16.33
Humana Inc. 11.44
Intuitive Surgical Inc. 187.58
Medtronic PLC 29.06
UnitedHealth Group Inc. 15.22
P/FCFE, Sector
Health Care Equipment & Services 18.32
P/FCFE, Industry
Health Care 20.80

Based on: 10-K (reporting date: 2022-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Boston Scientific Corp., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
No. shares of common stock outstanding1 1,434,780,104 1,426,724,712 1,417,165,707 1,396,195,349 1,385,961,926
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 785 1,330 145 4,176 1,413
FCFE per share3 0.55 0.93 0.10 2.99 1.02
Share price1, 4 47.18 43.71 38.75 39.91 39.86
Valuation Ratio
P/FCFE5 86.23 46.89 378.73 13.34 39.10
Benchmarks
P/FCFE, Competitors6
Abbott Laboratories 26.11 24.52 38.42 53.19
Cigna Group 18.23 10.98 16.30 20.76
CVS Health Corp. 12.36 21.23 11.93 18.52
Danaher Corp. 32.04 20.75 44.62 6.88
Elevance Health Inc. 14.26 11.07 7.75 13.72
Humana Inc. 30.99 11.49 8.47 11.73
Intuitive Surgical Inc. 89.67 58.39 81.15 57.31
Medtronic PLC 19.71 38.91 23.06 26.62
UnitedHealth Group Inc. 12.57 20.11 13.93 13.90
P/FCFE, Sector
Health Care Equipment & Services 17.58 20.22 18.16 16.24
P/FCFE, Industry
Health Care 18.25 17.67 16.95 13.53

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 Data adjusted for splits and stock dividends.

2 See details »

3 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 785,000,000 ÷ 1,434,780,104 = 0.55

4 Closing price as at the filing date of Boston Scientific Corp. Annual Report.

5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= 47.18 ÷ 0.55 = 86.23

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Boston Scientific Corp. P/FCFE ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.