Question 1

What is Boston Scientific's P/FCF ratio?

Accepted Answer

Boston Scientific (BSX) P/FCF ratio is 18.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Boston Scientific?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Boston Scientific specifically, the relevant sector benchmark is the current sector median of 19.1×.

Question 5

Is Boston Scientific's P/FCF ratio high or low?

Accepted Answer

Boston Scientific's P/FCF ratio of 18.7× is below its own 5-year average of 56.0× and below the sector median of 19.1×. That places the current reading at the 0th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Boston Scientific's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Boston Scientific (BSX) P/FCF ratio has ranged from a low of 7.6× in 2012 to a high of 715.3× in 2019. The 5-year average is 56.0× and the 5-year median is 52.9×.

Question 7

What was Boston Scientific's P/FCF ratio in 2025?

Accepted Answer

Boston Scientific (BSX) P/FCF ratio at the end of 2025 was 39.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Boston Scientific's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$141B	$3.63B	39.0×	-15.0×	Dec 31, 2025
2024	$132B	$2.44B	54.0×	+4.3×	Dec 31, 2024
2023	$84.7B	$1.7B	49.7×	-22.5×	Dec 31, 2023
2022	$66.3B	$918M	72.2×	+26.2×	Dec 31, 2022
2021	$60.5B	$1.32B	46.0×	-5.2×	Dec 31, 2021
2020	$51.3B	$1B	51.2×	+0.3×	Dec 31, 2020
2019	$63.1B	$1.24B	50.9×	—	Dec 31, 2019
2018	$48.9B	-$154M	—	—	Dec 31, 2018
2017	$34B	$1.21B	28.2×	-21.2×	Dec 31, 2017
2016	$29.5B	$596M	49.4×	-18.6×	Dec 31, 2016
2015	$23.9B	$351M	68.0×	+50.6×	Dec 31, 2015
2014	$17.6B	$1.01B	17.4×	-1.4×	Dec 31, 2014
2013	$16B	$850M	18.8×	+11.1×	Dec 31, 2013
2012	$7.83B	$1.02B	7.7×	-3.3×	Dec 31, 2012
2011	$7.72B	$704M	11.0×	-234.9×	Dec 31, 2011
2010	$11.6B	$47M	245.9×	+217.1×	Dec 31, 2010
2009	$13.6B	$473M	28.7×	+15.1×	Dec 31, 2009
2008	$11.6B	$854M	13.6×	-16.8×	Dec 31, 2008
2007	$17.4B	$571M	30.4×	+13.6×	Dec 31, 2007
2006	$25.3B	$1.5B	16.8×	-18.3×	Dec 31, 2006
2005	$20.3B	$579M	35.1×	+15.8×	Dec 31, 2005
2004	$29.6B	$1.53B	19.3×	-32.4×	Dec 31, 2004
2003	$31B	$599M	51.8×	+24.2×	Dec 31, 2003
2002	$17.2B	$624M	27.5×	—	Dec 31, 2002


McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
UnitedHealth Group (UNH)	15.9×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Elevance Health (ELV)	13.4×
Incyte (INCY)	12.9×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	11.3×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Teladoc Health (TDOC)	3.9×
Centene (CNC)	2.5×

P/FCF Ratio for Boston Scientific (BSX) 2002-2026

P/FCF Ratio daily chart for Boston Scientific (BSX)

Historical P/FCF Ratio for Boston Scientific (BSX) from 2002 to 2025

About P/FCF Ratio at Boston Scientific (BSX)

Boston Scientific P/FCF Ratio by Year

Boston Scientific P/FCF Ratio 2025: 39.0×

Boston Scientific P/FCF Ratio 2024: 54.0×

Boston Scientific P/FCF Ratio 2023: 49.7×

Boston Scientific P/FCF Ratio 2022: 72.2×

Boston Scientific P/FCF Ratio 2021: 46.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Boston Scientific (BSX) Key Financials