Boston Scientific Corporation — Earnings Quality Grade F
BSX · Healthcare
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 53 days, change -3 days YoY
AR growth 14.4% vs revenue growth 19.9%
Revenue 19.9%, CFFO 32.0%. Cash follows revenue
Expense Quality
Inventory 4.7% vs COGS 18.3%. Normal
CapEx growth 5.6% vs revenue 19.9%. Normal
SG&A/Gross Profit = 49.7%. Normal
Gross margin 69.0%, change +0.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.56. Profits backed by cash
FCF $3.4B, FCF/NI = 1.17
Accruals ratio = -3.7%. Low accruals
Cash $2.0B covers only 17% of debt $11.4B
Balance Sheet Health
Goodwill+Intangibles $25.3B = 104% of equity. Over 50%
Debt/EBITDA = 2.2x. Healthy
Other assets 6.4% vs revenue 19.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 6% YoY. Normal
Manipulation Score
M-Score = -2.52 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09