Boston Scientific Corp

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BSX : NYSE : Health Care
$26.835 up 0.16 | 0.58%
Today's Range: 26.6 - 26.87
Avg. Daily Volume: 6084400.0
08/17/17 - 11:33 AM ET

Financial Analysis

BOSTON SCIENTIFIC CORP's gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not. BOSTON SCIENTIFIC CORP has very weak liquidity. Currently, the Quick Ratio is 0.44 which clearly shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 16.31% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)2258.02126.0
EBITDA ($mil)651.0557.0
EBIT ($mil)446.0364.0
Net Income ($mil)146.0-207.0

Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)446.0438.0
Total Assets ($mil)18382.017838.0
Total Debt ($mil)5835.05427.0
Equity ($mil)7235.06220.0

Profitability Q2 FY17 Q2 FY16
Gross Profit Margin74.9372.67
EBITDA Margin28.8326.19
Operating Margin19.7517.12
Sales Turnover0.470.45
Return on Assets4.28-1.93
Return on Equity10.89-5.54
Debt Q2 FY17 Q2 FY16
Current Ratio0.751.05
Interest Expense58.059.0
Interest Coverage7.696.17

Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)1370.471358.7
Div / share0.00.0
Book value / share5.284.58
Institutional Own % n/a n/a
Avg Daily Volume6322481.07486592.0


BUY. BOSTON SCIENTIFIC CORP's P/E ratio indicates a discount compared to an average of 47.28 for the Health Care Equipment & Supplies industry and a significant premium compared to the S&P 500 average of 24.31. Conducting a second comparison, its price-to-book ratio of 4.97 indicates a significant premium versus the S&P 500 average of 3.03 and a premium versus the industry average of 4.71. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. The valuation analysis reveals that, BOSTON SCIENTIFIC CORP seems to be trading at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
BSX 45.28 Peers 47.28   BSX 48.94 Peers 37.28

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

BSX is trading at a valuation on par with its peers.


Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

BSX is trading at a significant premium to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
BSX 18.76 Peers 25.35   BSX 0.11 Peers 0.98

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

BSX is trading at a discount to its peers.


Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

BSX trades at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
BSX 4.97 Peers 4.71   BSX 323.07 Peers 34.10

Average. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

BSX is trading at a valuation on par with its peers.


Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

BSX is expected to have an earnings growth rate that significantly exceeds its peers.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
BSX 4.13 Peers 4.99   BSX 9.52 Peers 11.41

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

BSX is trading at a discount to its industry on this measurement.


Lower. A sales growth rate that trails the industry implies that a company is losing market share.

BSX trails its peers on the basis of sales growth



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