Taking everything into account, BSX scores 5 out of 10 in our fundamental rating. BSX was compared to 184 industry peers in the Health Care Equipment & Supplies industry. BSX has an excellent profitability rating, but there are some minor concerns on its financial health. BSX is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

BSX had positive earnings in the past year.
BSX had a positive operating cash flow in the past year.
BSX had positive earnings in 4 of the past 5 years.
BSX had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

BSX has a Return On Assets of 6.54%. This is amongst the best in the industry. BSX outperforms 86.96% of its industry peers.
BSX has a Return On Equity of 11.93%. This is amongst the best in the industry. BSX outperforms 88.04% of its industry peers.
The Return On Invested Capital of BSX (8.09%) is better than 84.24% of its industry peers.
BSX had an Average Return On Invested Capital over the past 3 years of 6.59%. This is below the industry average of 8.81%.
The last Return On Invested Capital (8.09%) for BSX is above the 3 year average (6.59%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	6.54%
ROE	11.93%
ROIC	8.09%

ROA(3y)3.72%

ROA(5y)2.77%

ROE(3y)6.77%

ROE(5y)5.1%

ROIC(3y)6.59%

ROIC(5y)5.7%

1.3 Margins

BSX has a Profit Margin of 14.42%. This is amongst the best in the industry. BSX outperforms 91.30% of its industry peers.
BSX's Profit Margin has declined in the last couple of years.
BSX has a Operating Margin of 19.40%. This is amongst the best in the industry. BSX outperforms 92.39% of its industry peers.
In the last couple of years the Operating Margin of BSX has remained more or less at the same level.
Looking at the Gross Margin, with a value of 68.57%, BSX is in the better half of the industry, outperforming 75.54% of the companies in the same industry.
In the last couple of years the Gross Margin of BSX has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	19.4%
PM (TTM)	14.42%
GM	68.57%

OM growth 3Y0.91%

OM growth 5Y1.48%

PM growth 3Y10.12%

PM growth 5Y-24.05%

GM growth 3Y-0.15%

GM growth 5Y-0.56%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

BSX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
BSX has more shares outstanding than it did 1 year ago.
The number of shares outstanding for BSX has been increased compared to 5 years ago.
BSX has a worse debt/assets ratio than last year.

2.2 Solvency

BSX has an Altman-Z score of 5.29. This indicates that BSX is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 5.29, BSX is in the better half of the industry, outperforming 78.80% of the companies in the same industry.
BSX has a debt to FCF ratio of 3.03. This is a good value and a sign of high solvency as BSX would need 3.03 years to pay back of all of its debts.
The Debt to FCF ratio of BSX (3.03) is better than 82.61% of its industry peers.
BSX has a Debt/Equity ratio of 0.48. This is a healthy value indicating a solid balance between debt and equity.
BSX has a Debt to Equity ratio (0.48) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.48
Debt/FCF	3.03
Altman-Z	5.29

ROIC/WACC0.83

WACC9.78%

2.3 Liquidity

BSX has a Current Ratio of 1.51. This is a normal value and indicates that BSX is financially healthy and should not expect problems in meeting its short term obligations.
BSX has a worse Current ratio (1.51) than 72.83% of its industry peers.
BSX has a Quick Ratio of 1.51. This is a bad value and indicates that BSX is not financially healthy enough and could expect problems in meeting its short term obligations.
BSX has a Quick ratio of 0.96. This is in the lower half of the industry: BSX underperforms 77.17% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.51
Quick Ratio	0.96

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

BSX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 25.00%, which is quite impressive.
The Earnings Per Share has been growing by 9.56% on average over the past years. This is quite good.
BSX shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.62%.
BSX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.30% yearly.

EPS 1Y (TTM)25%

EPS 3Y15.48%

EPS 5Y9.56%

EPS Q2Q%19.05%

Revenue 1Y (TTM)21.62%

Revenue growth 3Y12.1%

Revenue growth 5Y9.3%

Sales Q2Q%20.34%

3.2 Future

The Earnings Per Share is expected to grow by 15.06% on average over the next years. This is quite good.
The Revenue is expected to grow by 12.60% on average over the next years. This is quite good.

EPS Next Y22.12%

EPS Next 2Y18.13%

EPS Next 3Y16.37%

EPS Next 5Y15.06%

Revenue Next Year20.92%

Revenue Next 2Y16.08%

Revenue Next 3Y14.31%

Revenue Next 5Y12.6%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 31.73, BSX can be considered very expensive at the moment.
Based on the Price/Earnings ratio, BSX is valued a bit cheaper than the industry average as 73.91% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 28.87, BSX is valued at the same level.
With a Price/Forward Earnings ratio of 26.73, BSX can be considered very expensive at the moment.
BSX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BSX is cheaper than 75.00% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.96. BSX is around the same levels.

		Industry Rank	Sector Rank
PE	31.73
Fwd PE	26.73

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BSX indicates a somewhat cheap valuation: BSX is cheaper than 71.74% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BSX indicates a somewhat cheap valuation: BSX is cheaper than 77.72% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	36.3
EV/EBITDA	29.19

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of BSX may justify a higher PE ratio.
BSX's earnings are expected to grow with 16.37% in the coming years. This may justify a more expensive valuation.