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Boston Scientific (BSX) investor relations material
Boston Scientific Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 net sales grew 15.9% reported, reaching $5.286B; full-year net sales were $20.074B, up 19.9% year-over-year.
Adjusted EPS was $0.80 in Q4 and $3.06 for the year, both exceeding guidance.
Major product launches and regulatory approvals included SEISMIQ M IVL System, FARAPOINT PFA Catheter, and TheraSphere 360 Y-90 Management Platform.
Six of eight business units outpaced market growth, with strong global performance in EP, Watchman, and cardiovascular segments.
Completed acquisition of Nalu Medical and announced agreements to acquire Valencia Technologies and Penumbra.
Financial highlights
Q4 gross margin was 69.6% as reported; adjusted gross margin 70.7%; Q4 operating margin was 15.6% as reported, adjusted operating margin 27.3%.
Full-year free cash flow was $3.66B, with 80% conversion.
Q4 adjusted net income was $1.201B; full-year adjusted net income was $4.574B.
Q4 GAAP net income was $672M; full-year GAAP net income was $2.898B.
Year-end cash on hand was $1.965B; year-end debt was $11.4B.
Outlook and guidance
FY 2026 net sales growth guidance: 10.5%-11.5% reported, 10.0%-11.0% organic; adjusted EPS guidance: $3.43-$3.49.
Q1 2026 net sales growth guidance: 10.5%-12.0% reported, 8.5%-10.0% organic; adjusted EPS guidance: $0.78-$0.80.
Estimated FY 2026 free cash flow is ~$4.2B.
Adjusted operating margin expected to expand 50-75 bps in 2026.
Long-range plan targets: 10%+ sales growth, 150 bps margin expansion, double-digit EPS growth through 2028.
- TimeTickerHeadlineOpen
- 7 FebMGL
Strong revenue growth offset by lower margins and profit; interim dividend declared. - 7 FebPGIL
Strong revenue and margin growth, with India set for further expansion and upgraded ratings. - 7 Feb504614
Strong revenue and profit growth in Q3 FY26, led by power and steel segments. - 7 FebCHEMPLASTS
Net losses widened and revenue fell year-over-year amid regulatory and market headwinds. - 7 FebSBIN
Q3 FY26 net profit reached ₹21,028.15 crore, driven by robust income and strategic divestments. - 6 FebHTOO
Resale registration for 71,429 shares via warrant, with proceeds only on exercise; financial risks persist. - 6 FebVSAT
Q3 revenue up 3% to $1.16B, net income $25M, strong cash flow, Ligado boost, satellite focus. - 6 FebWEC
Targets 7–8% EPS growth, $37.5B capex, and coal exit by 2032 amid surging data center demand. - 6 FebBR
Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%. - 6 FebFFWM
Merger vote includes new non-voting stock class with limited conversion and no voting rights.
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