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Boston Scientific Corp (BSX) stock analysis

BSXNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 2, 2026Score 14/3050% below fair value
$45.13+0.43 (+0.96%)

Close on Nov 11, 2026Market cap $65.40BP/E 19.1Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value6Growth3Performance1Health4Dividend0

Mixed14 of 30 checks passed

Boston Scientific passes 14 of the 30 checks behind our score; 12 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
6/6
Growth
3/6
Past performance
1/6
Financial health
4/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 49.8% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $45.13 is below our fair value estimate of $89.96.

  • Return on capital over 10%

    Return on invested capital was 10.6%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 16.5% a year over the last three fiscal years.

What to watch

  • High debt

    Debt is 46.6% of shareholders' equity, above the 40% we consider low.

  • Guidance lowered

    Boston Scientific lowered its full year 2026 organic net sales guidance outlook on Jul 29, 2026.

  • Growing slower than the industry

    Revenue grew 8.9% over the last twelve months; the Surgical, Medical, and Dental Instruments and Supplies median is 11.0%.

  • No dividend

    Boston Scientific has not paid a dividend in the last twelve months.

Valuation6/6

  • P/E below its 5-year median

    Boston Scientific's P/E of 19.1 is below its own 5-year median of 68.2.

  • P/E below the industry

    Boston Scientific's P/E of 19.1 is below the Surgical, Medical, and Dental Instruments and Supplies median of 27.7.

  • EV/EBITDA below its 5-year median

    Boston Scientific's EV/EBITDA of 14.4 is below its 5-year median of 29.7.

  • P/B below the industry

    Boston Scientific's price-to-book of 2.55 is below the Surgical, Medical, and Dental Instruments and Supplies median of 3.22.

  • Trading below fair value

    The share price of $45.13 is below our fair value estimate of $89.96.

  • Margin of safety over 20%

    The price is 49.8% below fair value, more than the 20% cushion we look for.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 16.5% a year over the last three fiscal years.

  • EPS growing 10%+ a year

    Diluted EPS grew 62.8% a year over the last three fiscal years.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 8.9% over the last twelve months; the Surgical, Medical, and Dental Instruments and Supplies median is 11.0%.

  • Guidance lowered

    Boston Scientific lowered its full year 2026 organic net sales guidance outlook on Jul 29, 2026.

  • Gross margin improving

    Gross margin was 69.1% over the last twelve months, against 68.6% a year earlier.

Past performance1/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital over 10%

    Return on invested capital was 10.6%, above the 10% that usually covers the cost of capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin against the industry

    Needs revenue and net income.

Financial health4/6

  • High debt

    Debt is 46.6% of shareholders' equity, above the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 35.4% of total debt.

  • Interest well covered

    Operating income covers interest expense 10.5 times.

  • Short-term assets cover short-term debts

    Current assets are 1.36 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 3.07; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Boston Scientific has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$89.96

The share price is 50% below this estimate.

20%+ below
Near fair value
20%+ above
$45.13Price$89.96Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E45.0×68.2×27.7×$106.2047%
EV/EBITDA23.2×29.7×16.7×$78.1241%
P/B3.8×4.3×3.2×$66.4412%
Earnings powerleft out, too far from the others8.8% cost of equity––$21.22–
Fair value$89.96100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 68.2
  • Surgical, Medical, and Dental Instruments and Supplies median 27.7

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$824.17M
Value traded per 1% price move
$456.54M

Downside

Medium risk

Typical loss in a bad month
22.2%
Volatility (annualized)
40%
Sharpe ratio, 1 year
-1.49
Beta to the S&P 500 (5Y)
0.78

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

69.0%+4.0 pts over 5 years

Operating margin

18.0%+18.8 pts over 5 years

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