BOSTON SCIENTIFIC CORPBSX
BOSTON SCIENTIFIC CORP Financial Overview 2021–2025
Updated Jul 10, 2026Boston Scientific's net income skyrocketed 56.4% to hit $2.898 billion in FY2025, proving that its recent product launches can deliver massive operational leverage. This profitability surge underpins the central investment thesis: relentless strategic acquisitions and the runaway commercial adoption of the Farapulse Pulsed Field Ablation System are translating directly into outsized earnings power.
The medical device maker rapidly scaled its operations over a four-year window, with revenue growing from $11.888 billion in FY2021 to $20.074 billion in FY2025. This top-line momentum accelerated further in Q1 2026, where net sales jumped another 11.6% to $5.203 billion and gross margins expanded to 69.4%. Capital deployment is matching this operational intensity. After completing the $3.7 billion buyout of Axonics in late 2024, the company is now navigating a $14.5 billion takeover of Penumbra. To balance this heavy acquisition spend, management authorized a new $5.0 billion stock repurchase program in early 2026 and instantly executed a $2 billion accelerated share repurchase, reversing its strategy after completely abstaining from buybacks in both FY2024 and FY2025.
The market has heavily premiumized this sustained growth trajectory. At the close of FY2025, the stock traded at $95.35, commanding a steep 49.1x trailing earnings multiple based on its reported $1.94 in per-share earnings.
Recent Developments (Q4 2025 and Q1 2026)
Beyond top-line expansion, Boston Scientific's operational efficiency continues to accelerate. In Q1 2026, operating income climbed 19.5% year-over-year to $1.101 billion. First-quarter net income surged 98.8% to $1.341 billion, aided by a discrete tax benefit.
The company is expanding its product pipeline through targeted investments outside its primary megadeals. In January 2026, it completed the $523 million acquisition of Nalu Medical. In May 2026, the device maker deployed a $1.5 billion initial investment for a 33.75% equity stake in MiRus LLC, securing an exclusive $3.0 billion option to acquire its TAVR system. Bulls argue the stock is attractively priced, with its valuation compressing to 29.1x trailing earnings as of the Q1 2026 earnings date. Conversely, bears warn that financing multiple simultaneous multibillion-dollar acquisitions creates measurable balance sheet risk.
What to watch: clinical and regulatory milestones for the MiRus TAVR system; commercial impacts from the HI-PEITHO and CHAMPION-AF trial results.
Rev
$20.07B
FY2025
NI
$2.90B
FY2025
EPS
$1.96
FY2025
OCF
$4.53B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 18, 2026)
Boston Scientific Corporation (BSX) announced on May 18, 2026, that it has entered into an Accelerated Share Repurchase (ASR) agreement for $2 billion. This ASR is part of the company's previously authorized $5 billion share repurchase program, leaving $3 billion remaining under this authorization upon completion of the ASR. The ASR involves an initial repurchase of approximately 30.4 million shares, valued at 80% of the repurchase price based on the May 15, 2026 closing price. The final number of shares repurchased will be determined by the volume-weighted average price during the ASR term, subject to discounts and adjustments. The ASR is expected to conclude by June 30, 2026, and is intended to enhance shareholder value by reducing the number of outstanding shares.
BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 18, 2026)
Boston Scientific Corporation (BSX) has announced a significant strategic investment in MiRus LLC, a private company focused on cardiovascular and orthopedic biomaterials and implantable solutions. On May 15, 2026, BSX acquired a 33.75% non-voting equity stake in MiRus for $1.5 billion (inclusive of a prior $100 million payment). This initial investment also grants BSX an exclusive option to acquire 100% of MiRus's TAVR System subsidiary, TAVR-Structural Heart NewCo, for an additional $3.0 billion, contingent upon the achievement of specific clinical and regulatory milestones. The TAVR System is a transcatheter aortic valve replacement device currently undergoing a randomized controlled clinical trial for FDA Premarket Approval.
BOSTON SCIENTIFIC CORP 8-K Report, Bylaw Amendment (May 5, 2026)
Boston Scientific Corporation (BSX) filed an 8-K on May 5, 2026, detailing key outcomes from its 2026 Annual Meeting of Stockholders held on April 30, 2026. The most significant development for investors is the approval and effective filing of amendments to the Company's Certificate of Incorporation. These amendments eliminate supermajority voting requirements and introduce exculpation for certain officers, as permitted by Delaware law. The elimination of supermajority provisions simplifies future corporate decision-making by requiring only a simple majority for key approvals, potentially increasing responsiveness to shareholder sentiment. The filing also confirms the election of all 10 director nominees for one-year terms and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026. Additionally, stockholders approved an amendment to the Employee Stock Purchase Plan to increase the number of reserved shares for issuance. Notably, a proposal to allow stockholders owning 25% of common stock to call a special meeting was not approved, indicating continued board control over meeting initiation.
BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Apr 22, 2026)
Boston Scientific Corporation (BSX) has filed an 8-K report on April 22, 2026, to announce its financial results for the first quarter ended March 31, 2026. The press release detailing these results is furnished as Exhibit 99.1 to this filing. Investors should refer to this press release for comprehensive information on the company's performance during the period. Notably, this information is furnished and not deemed "filed" for purposes of certain sections of the Securities Exchange Act, meaning it does not carry the same legal liabilities as a formally filed document under those specific provisions.
BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Mar 30, 2026)
Boston Scientific Corporation (BSX) filed an 8-K on March 30, 2026, to report the release of significant clinical trial results. The company issued two press releases on March 28, 2026, detailing outcomes from its HI-PEITHO and CHAMPION-AF clinical trials. These trials are crucial as they pertain to the company's product pipeline and market positioning within key therapeutic areas. Investors should closely examine the full press releases, incorporated by reference in this filing, to understand the potential impact on future revenue and competitive advantage.
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