What is the primary revenue source for Boston Scientific (BSX)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze BSX's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Boston Scientific's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Boston Scientific Makes Money: BSX Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

Operating margin improved by 3.51 percentage points year over year.

Revenue: USD 10.65B
Largest revenue segment share (Interventional Cardiology Therapies): 24.21%
Selling, general and administrative: USD 3.58B
Cost of revenue: USD 3.18B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cost of revenueCost of products sold (excluding amortization expense) · CostOfGoodsAndServicesSold
RevenueNet sales · RevenueFromContractWithCustomerExcludingAssessedTax
Operating marginOperating income (loss) · operating_income / revenue * 100
Largest revenue segment share (Interventional Cardiology Therapies)Interventional Cardiology Therapies · segment_value / revenue * 100
Selling, general and administrativeSelling, general and administrative expenses · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Goodwill accounts for 41.22% of total assets, a high share where impairment could hit earnings and equity.

Goodwill: USD 18.64B
Property, plant and equipment: USD 4.13B
Inventory: USD 3.23B
Shareholder equity: USD 25.17B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
InventoryInventories · InventoryNet
Property, plant and equipmentProperty, plant, and equipment and finance lease right-of-use asset, after accumulated depreciation and amortization · PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
GoodwillGoodwill · Goodwill

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 81.33% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 2.24B
Operating cash flow: USD 1.82B
Cash conversion: 81.33%
Free cash flow: USD 1.45B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeProfitLoss - NetIncomeLossAttributableToNoncontrollingInterest
Operating cash flowsum(waterfull.operating)
Cash conversionoperating_cash_flow / net_income * 100
Free cash flowcfo - capex

Shareholders

Did the money earned actually make its way back to shareholders?

Watch

Dividends and net buybacks exceed free cash flow, raising questions about sustainability.

Share repurchases: USD 2.00B
Net shareholder return: USD 2.00B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?