As of December 15, 2025, Boston Scientific Corp has a Discounted Cash Flow (DCF) derived fair value of $87.76 per share. With the current market price at $92.58, this represents a potential upside of -5.2%.
| Key Metrics | Value |
|---|---|
| DCF Fair Value (5-year) | $64.11 |
| DCF Fair Value (10-year) | $87.76 |
| Potential Upside (5-year) | -30.8% |
| Potential Upside (10-year) | -5.2% |
| Discount Rate (WACC) | 6.2% - 8.1% |
Revenue is projected to grow from $16747 million in 12-2024 to $41579 million by 12-2034, representing a compound annual growth rate of approximately 9.5%.
| Fiscal Year | Revenue (USD millions) | Growth |
|---|---|---|
| 12-2024 | 16747 | 18% |
| 12-2025 | 18763 | 12% |
| 12-2026 | 21022 | 12% |
| 12-2027 | 23296 | 11% |
| 12-2028 | 24889 | 7% |
| 12-2029 | 27443 | 10% |
| 12-2030 | 30129 | 10% |
| 12-2031 | 32020 | 6% |
| 12-2032 | 34635 | 8% |
| 12-2033 | 37904 | 9% |
| 12-2034 | 41579 | 10% |
Net profit margin is expected to improve from 11% in 12-2024 to 18% by 12-2034, driven by operational efficiency and economies of scale.
| Fiscal Year | Net Profit (USD millions) | Profit Margin |
|---|---|---|
| 12-2024 | 1846 | 11% |
| 12-2025 | 2306 | 12% |
| 12-2026 | 2836 | 13% |
| 12-2027 | 3409 | 15% |
| 12-2028 | 3912 | 16% |
| 12-2029 | 4596 | 17% |
| 12-2030 | 5105 | 17% |
| 12-2031 | 5487 | 17% |
| 12-2032 | 6002 | 17% |
| 12-2033 | 6640 | 18% |
| 12-2034 | 7362 | 18% |
with a 5-year average of $633 million. Projected CapEx is expected to maintain at approximately 5% of revenue.
Depreciation is based on an average useful life of 5 years for capital assets.
| Fiscal Year | D&A (USD millions) |
|---|---|
| 12-2025 | 711 |
| 12-2026 | 804 |
| 12-2027 | 913 |
| 12-2028 | 1012 |
| 12-2029 | 1121 |
| 12-2030 | 1231 |
Net working capital is expected to increase gradually, with projected changes affecting free cash flow.
| Components | Average Days |
|---|---|
| Days Receivables | 57 |
| Days Inventory | 193 |
| Days Payables | 75 |
| Fiscal Year | EBITDA | Tax | CapEx | Change in NWC | FCF |
|---|---|---|---|---|---|
| 3M/2025 | 972 | 136 | 228 | 73 | 535 |
| 2026 | 4677 | 670 | 1021 | 593 | 2394 |
| 2027 | 5534 | 805 | 1131 | 419 | 3179 |
| 2028 | 6283 | 924 | 1208 | 260 | 3891 |
| 2029 | 7282 | 1085 | 1332 | 522 | 4342 |
| Valuation Method | Fair Price (USD) | Potential Upside |
|---|---|---|
| 5-Year DCF (Growth) | 64.11 | -30.8% |
| 10-Year DCF (Growth) | 87.76 | -5.2% |
| 5-Year DCF (EBITDA) | 51.82 | -44.0% |
| 10-Year DCF (EBITDA) | 72.47 | -21.7% |
Is Boston Scientific Corp (BSX) a buy or a sell? Boston Scientific Corp is definitely a sell. Based on our DCF analysis, Boston Scientific Corp (BSX) appears to be fairly valued with upside potential of -5.2%. The company's strong projected growth in revenue and profitability, coupled with consistent capital expenditure, supports our positive outlook on its intrinsic value.
Key investment drivers include:
Investors should consider a hold at the current market price of $92.58.