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Arphra AIPlain-English read on Boston Scientific Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $11.89B | $12.68B | $14.24B | $16.75B | $20.07B | $21.64B | $23.39B | $25.33B | $28.05B |
| Cost of revenue | $4.43B | $4.97B | $5.41B | $6.48B | $6.22B | $7.57B | $8.56B | $9.26B | $10.17B |
| Gross profit | $7.46B | $7.71B | $8.83B | $10.27B | $13.85B | $14.06B | $14.6B | $16.64B | $17.73B |
| Gross margin | +62.76% | +60.83% | +62.02% | +61.31% | +69.01% | +64.96% | +62.41% | +65.70% | +63.19% |
| Operating | |||||||||
| Research & development | $1.2B | $1.32B | $1.41B | $1.62B | $2.05B | $2.2B | $2.36B | $2.57B | $2.85B |
| Selling, general & administrative | $4.29B | $4.52B | $5.19B | $5.98B | $6.89B | $7.53B | $8.36B | $9.17B | $10.06B |
| Total operating expenses | $5.54B | $5.89B | $6.65B | $7.63B | $9.88B | $10.35B | $11.17B | $11.76B | $13.18B |
| Operating income | $1.92B | $1.82B | $2.18B | $2.64B | $3.97B | $3.58B | $3.89B | $4.3B | $4.69B |
| Operating margin | +16.17% | +14.38% | +15.32% | +15.73% | +19.78% | +16.53% | +16.63% | +16.98% | +16.72% |
| EBITDA | $2.52B | $2.74B | $3.45B | $3.94B | $3.73B | $4.77B | $5.28B | $5.53B | $6.16B |
| EBIT | $1.43B | $1.61B | $2.26B | $2.67B | $3.73B | $3.68B | $4.02B | $4.24B | $4.59B |
| Below the line | |||||||||
| Interest expense | $349M | $464M | $272M | $387M | $349M | $417.16M | $461.95M | $510.81M | $541.52M |
| Interest income | $4M | $10M | $22M | $107M | $0 | $57.58M | $61.78M | $66.45M | $72.7M |
| Other income / expense | -$846M | -$683M | -$196M | -$353M | -$586M | — | — | — | — |
| Pre-tax income | $1.08B | $1.14B | $1.99B | $2.28B | $3.39B | $3.27B | $3.41B | $3.8B | $4.14B |
| Income tax expense | $36M | $443M | $393M | $436M | $493M | $586.55M | $618.04M | $667.01M | $745.87M |
| Earnings | |||||||||
| Net income | $1.04B | $698M | $1.59B | $1.85B | $2.89B | $2.71B | $2.82B | $3.1B | $3.36B |
| Net income · continuing ops | $1.04B | $698M | $1.59B | $1.85B | $2.89B | $2.68B | $2.91B | $3.14B | $3.49B |
| Net margin | +8.75% | +5.50% | +11.19% | +11.07% | +14.38% | +12.52% | +12.07% | +12.26% | +11.97% |
| EPS · basic | $0.69 | $0.45 | $1.08 | $1.26 | $1.96 | $3.39 | $3.81 | $4.18 | $4.71 |
| EPS · diluted | $0.69 | $0.45 | $1.07 | $1.25 | $1.94 | $3.37 | $3.74 | $4.17 | $4.74 |
| EPS · low estimate | — | — | — | — | — | $3.34 | $3.66 | $3.73 | $4.64 |
| EPS · high estimate | — | — | — | — | — | $3.41 | $3.81 | $4.66 | $4.92 |
| Shares · basic | 1.42B | 1.43B | 1.45B | 1.47B | 1.48B | 1.48B | 1.48B | 1.49B | 1.48B |
| Shares · diluted | 1.43B | 1.44B | 1.46B | 1.49B | 1.49B | 1.5B | 1.48B | 1.49B | 1.48B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 23 | 23 | 25 | 12 |
| Analysts (EPS) | — | — | — | — | — | 17 | 18 | 9 | 3 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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