Income StatementBalance SheetCash FlowSegments
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Boston Scientific Business Segments

Business, geographic, and product segment breakdowns

Boston Scientific generates $20.6B in annual revenue across 2 key segments: Cardiovascular ($13.7B), and MedSurg ($6.9B). The company-wide operating margin is 18.4%. Based on the Q1 2026 filing.

Cardiovascular (TTM)$13.7BMedSurg (TTM)$6.9B
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$85.9B
P/E Ratio24.13
ROE14.81%

Products & Services

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interventional Cardiology & Vascular Therapies$668.0M$1.1B$731.0M$686.0M—$1.2B
Electrophysiology$649.0M$730.0M$840.0M$865.0M$890.0M$905.0M
Endoscopy$691.0M$673.0M$737.0M$747.0M$759.0M$736.0M
Urology$630.0M$633.0M$676.0M$682.0M$717.0M$646.0M
Cardiac Rhythm Management$566.0M$578.0M$590.0M$578.0M$586.0M$578.0M
Watchman$413.0M$425.0M$486.0M$512.0M$535.0M$506.0M
Neuromodulation$299.0M$271.0M$303.0M$293.0M$333.0M$318.0M
Interventional Oncology & Embolization$214.0M$228.0M———$268.0M
Interventional Cardiology & Vascular Therapies$1.0B$1.2B$1.2B$1.2B$1.2B—

Geographic

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$2.9B$3.0B$3.2B$3.3B$3.4B$3.3B
Europe, Middle East and Africa$830.0M$846.0M$878.0M$793.0M$933.0M$932.0M
Asia-Pacific$684.0M$701.0M$790.0M$802.0M$788.0M$803.0M
Latin America and Canada$155.0M$155.0M$169.0M$175.0M$179.0M$185.0M

Long-Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$1.5B$1.5B$1.5B$1.8B$1.9B$1.9B
Ireland$631.0M$655.0M$701.0M$707.0M$750.0M$750.0M
Costa Rica$530.0M$557.0M$574.0M$593.0M$637.0M$640.0M

Business Segments

Cost of products sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$911.0M$926.0M$1.0B$930.0M$1.0B$1.1B
MedSurg$457.0M$435.0M$470.0M$483.0M$529.0M$478.0M

Cost of products sold, percentage of net sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular—29.3%31.3%27.9%0.1%30.5%
MedSurg0.3%27.0%27.4%28.2%0.5%28.1%

Depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$91.0M$78.0M$83.0M$89.0M$105.0M$89.0M
MedSurg$31.0M$27.0M$28.0M$29.0M$31.0M$29.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$9.6B$9.8B$10.6B$10.5B$10.6B$10.6B
MedSurg$7.5B$7.5B$7.5B$7.7B$7.7B$8.0B

Goodwill acquired

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg$2.1B$0.0$0.0$159.0M$14.0M$274.0M
Cardiovascular$6.0M$205.0M$648.0M$0.0$37.0M$0.0

Impact of foreign currency fluctuations and purchase price and other adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular-$85.0M$30.0M$62.0M—$9.0M-$14.0M
MedSurg-$13.0M$17.0M$26.0M$1.0M$9.0M-$5.0M

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$2.9B$3.1B$3.3B$3.3B$3.5B$3.5B
MedSurg$1.6B$1.6B$1.7B$1.7B$1.8B$1.7B

Net sales of reportable segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$3.0B$3.2B$3.3B$3.3B$3.5B$3.5B
MedSurg$1.6B$1.6B$1.7B$1.7B$1.8B$1.7B

Operating Income (Loss), Adjusted

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$912.0M$1.1B$1.1B$1.1B$1.1B$1.1B
MedSurg$563.0M$536.0M$599.0M$566.0M$575.0M$533.0M

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$5.0M$6.0M$6.0M$6.0M$7.0M$7.0M
MedSurg$5.0M$6.0M$8.0M$5.0M$2.0M$5.0M

Other segment items, percentage of net sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg—0.3%0.5%0.3%—0.3%
Cardiovascular—0.2%0.2%0.2%—0.2%

Research and development expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$276.0M$283.0M$315.0M$337.0M$375.0M$343.0M
MedSurg$128.0M$121.0M$120.0M$128.0M$138.0M$127.0M

Research and development expenses, percentage of net sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular0.1%9.0%9.4%10.1%0.4%9.8%
MedSurg0.1%7.5%7.0%7.5%0.1%7.5%

Segment operating income, percentage of net sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular0.3%33.8%31.9%34.1%—32.1%
MedSurg—33.3%34.9%33.0%—31.3%

Selling, general and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$874.0M$873.0M$908.0M$920.0M$990.0M$959.0M
MedSurg$483.0M$512.0M$517.0M$531.0M$560.0M$557.0M

Selling, general and administrative expenses, percentage of net sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg—31.8%30.2%31.0%—32.8%
Cardiovascular—27.7%27.2%27.6%0.3%27.4%

Total assets of reportable segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cardiovascular$7.1B$7.4B$7.5B$7.8B$8.0B$8.3B
MedSurg$3.1B$3.1B$3.3B$3.4B$3.4B$3.7B