Boston Scientific (BSX)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $61.9B, Boston Scientific's free cash flow of $3.7B (fiscal 2025) would need to grow about 3% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Boston Scientific's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from BSX's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Boston Scientific's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $11.9B | $12.7B | $14.2B | $16.7B | $20.1B |
| Net income | $985M | $642M | $1.6B | $1.9B | $2.9B |
| Free cash flow | $1.3B | $938M | $1.8B | $2.6B | $3.7B |
| EPS (diluted) | $0.69 | $0.45 | $1.07 | $1.25 | $1.94 |
| Operating margin | 10.1% | 13.0% | 16.5% | 15.5% | 18.0% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own BSX
From each investor's latest 13F filing (what a 13F shows). 10 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Added | $2.2B | 1.3% | Q2 2026 |
| Tom Steyer Farallon Capital Management LLC |
Added | $449M | 2.1% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $413M | 0.14% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Added | $253M | 2.2% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Added | $219M | 0.18% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $16M | 0.04% | Q2 2026 |
| Ric Dillon Diamond Hill Capital Management |
Added | $7M | 0.05% | Q2 2026 |
| Larry Robbins Glenview Capital Management |
New position | $5M | 0.09% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Trimmed | $4M | 0.00% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Trimmed | $3M | 0.02% | Q2 2026 |
Insider buying
Open-market purchases by Boston Scientific's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 30, 2026 | Ro Khanna |
0 | $62.90 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $62.90 | — |
| Feb 17, 2026 | Ro Khanna |
0 | $76.25 | — |
| Feb 17, 2026 | Ro Khanna |
0 | $76.25 | — |
| Feb 10, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $74.26 | — |
| Feb 10, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $74.26 | — |
| Jan 30, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $93.58 | — |
| Jan 30, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $93.58 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $92.26 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $92.26 | — |
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In the full deep dive
Questions
What growth does Boston Scientific's stock price imply?
At a market value of $61.9B, Boston Scientific would need its free cash flow to grow about 3% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 18% a year.
Are Boston Scientific insiders buying the stock?
10 open-market insider purchases of BSX in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Boston Scientific?
10 of the superinvestors Investingly tracks hold BSX in their latest 13F, including PRIMECAP Management, Tom Steyer, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.