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
All BSX Financial Metrics(59)
Income Statement
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- Current Liabilities
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- Retained Earnings
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Cash Flow
Recent SEC Filings
BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Aug 26, 2026)
Boston Scientific Corporation (BSX) has disclosed a significant cybersecurity incident that occurred on August 25, 2026. This incident has led to a global disruption of the Company's operations, impacting information technology systems and business applications. Notably, the disruption affects the ability to process and ship customer orders, indicating a direct impact on revenue generation and supply chain continuity. The Company has initiated its incident response protocols and is working with third-party experts to investigate, assess, and contain the threat. While efforts are underway to restore affected systems, the timeline for full recovery remains uncertain. At this time, the full scope, nature, and financial implications of the incident are unknown, and Boston Scientific has not yet determined if it will have a material impact on the company's financial condition or results of operations.
BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jul 29, 2026)
Boston Scientific Corporation (BSX) has filed an 8-K report on July 29, 2026, to announce its financial results for the second quarter ended June 30, 2026. The primary driver of this filing is the accompanying press release (Exhibit 99.1), which contains the detailed financial performance for the period. Investors should refer to this press release for specific figures related to revenue, profitability, and any forward-looking guidance the company may have provided. While the 8-K itself does not contain the detailed financial data, it officially signals the release of this information to the market. The company has specified that the information in Item 2.02 and Exhibit 99.1 is furnished, not filed, which means it is not subject to the same liabilities under Section 18 of the Exchange Act. Nevertheless, this quarterly update is crucial for understanding the company's operational execution and financial health in the current reporting period.
BOSTON SCIENTIFIC CORP 8-K Report, Exit or Disposal Costs (Jul 27, 2026)
Boston Scientific Corporation (BSX) has announced a new global restructuring program, the "2026 Restructuring Plan," approved by its Board of Directors on July 21, 2026. This initiative aims to drive sustained cost efficiencies and support continued growth by optimizing the company's structure and resource allocation. Key activities include supply chain enhancements, such as relocating production lines, and organizational evolution. While these changes are expected to create new roles in growth areas, some headcount reductions are anticipated. The company estimates total pre-tax charges for this plan to be in the range of $700 million to $800 million, with approximately $600 million to $700 million expected to result in future cash outlays. The program is designed to achieve annual pre-tax expense reductions of roughly $500 million once fully realized, a significant portion of which is intended to be reinvested in strategic growth initiatives. The restructuring is slated to begin in 2026 and be substantially completed by the end of 2029.
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.
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