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Forensic Analysis · Medical Devices · as of Nov 9, 2026

Boston Scientific Corp (BSX)

A forensic read on Boston Scientific Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
2.8
Distress distance
Clean
Earnings quality
2
Forensic signals
12.6%
ROE
19.9%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Boston Scientific Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.8, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns — halted.

What the filings flag

stopped
FY2023→FY2024
Shareholder returns — halted. Capital returns have STOPPED — $28M of buybacks + dividends in FY2023, but ~$0 in FY2024. A halt usually means the company is conserving cash.
8.7%
FY2025
Return on invested capital. Return on invested capital is 8.7% in the latest fiscal year and rising across FY2023–FY2025 from 6.3%. After-tax operating profit was $1.9B in FY2023 and $3.1B in FY2025, with operating income at 16.5% of revenue in FY2023, 15.5% in FY2024 and 18.0% in FY2025. The capital base behind it grew +19% across FY2023–FY2025, from $29.9B to $35.5B, and the return did not fall doing it, so the dollars added over that window earned at least the 6.3% the older base was already earning.

Key fundamentals

Latest Revenue$20.07B
Revenue Growth YoY+19.9%
Revenue CAGR (2yr)+18.7%
Net Margin14.4%
Free Cash Flow$3.66B
Return on Equity12.6%
Debt / Equity0.47x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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