Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Boston Scientific Corp., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Boston Scientific Corp. inventory turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Boston Scientific Corp. receivables turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Boston Scientific Corp. payables turnover ratio decreased from Q3 2022 to Q4 2022 but then slightly increased from Q4 2022 to Q1 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Boston Scientific Corp. working capital turnover ratio deteriorated from Q3 2022 to Q4 2022 but then improved from Q4 2022 to Q1 2023 exceeding Q3 2022 level. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Boston Scientific Corp. number of days of inventory outstanding deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Boston Scientific Corp. number of days of receivables outstanding deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Boston Scientific Corp. operating cycle deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Boston Scientific Corp. number of days of payables outstanding increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Boston Scientific Corp. cash conversion cycle deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Inventory Turnover
Boston Scientific Corp., inventory turnover calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cost of products sold | 1,040) | 1,010) | 979) | 1,011) | 955) | 972) | 900) | 945) | 894) | 999) | 869) | 791) | 806) | 850) | 777) | 758) | 730) | 728) | 673) | 739) | 672) | |||||||
| Inventories | 2,050) | 1,867) | 1,788) | 1,752) | 1,736) | 1,610) | 1,603) | 1,430) | 1,407) | 1,351) | 1,472) | 1,516) | 1,628) | 1,579) | 1,566) | 1,300) | 1,228) | 1,166) | 1,134) | 1,087) | 1,113) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Inventory turnover1 | 1.97 | 2.12 | 2.19 | 2.19 | 2.17 | 2.30 | 2.33 | 2.59 | 2.53 | 2.56 | 2.25 | 2.13 | 1.96 | 1.97 | 1.91 | 2.22 | 2.34 | 2.41 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 2.77 | 3.10 | 3.37 | 3.24 | 3.36 | 3.59 | 3.47 | 3.27 | 2.99 | 2.99 | 2.71 | 2.56 | 2.92 | 3.07 | — | — | — | — | — | — | — | |||||||
| Cigna Group | 30.04 | 26.13 | 30.87 | 32.34 | 34.32 | 31.58 | 37.54 | 36.13 | 36.50 | 32.70 | 37.84 | 36.30 | 38.13 | 36.70 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 15.15 | 14.05 | 14.46 | 14.64 | 13.60 | 13.52 | 13.49 | 13.48 | 12.57 | 11.88 | 12.43 | 13.03 | 12.68 | 12.06 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 2.25 | 2.27 | 2.36 | 2.62 | 2.82 | 2.98 | 2.90 | 2.84 | 2.64 | 2.49 | 2.18 | 2.22 | 2.30 | 2.30 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 2.09 | 2.20 | 2.26 | 2.38 | 2.47 | 2.43 | 2.24 | 2.20 | 2.10 | 2.23 | 2.34 | 2.35 | 2.37 | 2.44 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Inventory turnover
= (Cost of products soldQ1 2023
+ Cost of products soldQ4 2022
+ Cost of products soldQ3 2022
+ Cost of products soldQ2 2022)
÷ Inventories
= (1,040 + 1,010 + 979 + 1,011)
÷ 2,050 = 1.97
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Boston Scientific Corp. inventory turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Receivables Turnover
Boston Scientific Corp., receivables turnover calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net sales | 3,389) | 3,242) | 3,170) | 3,244) | 3,026) | 3,127) | 2,932) | 3,077) | 2,752) | 2,708) | 2,659) | 2,003) | 2,543) | 2,904) | 2,707) | 2,631) | 2,493) | 2,561) | 2,393) | 2,490) | 2,379) | |||||||
| Trade accounts receivable, net | 2,076) | 1,970) | 1,871) | 1,917) | 1,866) | 1,778) | 1,669) | 1,675) | 1,631) | 1,531) | 1,598) | 1,457) | 1,577) | 1,828) | 1,796) | 1,712) | 1,621) | 1,608) | 1,580) | 1,587) | 1,580) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Receivables turnover1 | 6.28 | 6.44 | 6.72 | 6.43 | 6.52 | 6.69 | 6.87 | 6.68 | 6.21 | 6.47 | 6.33 | 6.97 | 6.84 | 5.87 | 5.79 | 5.89 | 6.13 | 6.11 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 6.89 | 7.02 | 7.03 | 6.33 | 6.20 | 6.64 | 6.61 | 6.58 | 6.13 | 5.40 | 5.70 | 6.12 | 6.06 | 5.88 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 11.65 | 11.79 | 11.94 | 11.27 | 11.30 | 11.91 | 11.23 | 11.48 | 11.32 | 12.32 | 11.14 | 11.68 | 11.33 | 13.04 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 16.53 | 18.81 | 19.51 | 18.80 | 16.67 | 20.66 | 18.93 | 18.81 | 17.39 | 19.72 | 18.91 | 18.04 | 16.74 | 18.20 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 30.60 | 55.25 | 56.74 | 26.54 | 27.18 | 45.69 | 42.91 | 32.51 | 35.43 | 66.78 | 64.58 | 31.30 | 33.43 | 60.97 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 6.95 | 6.60 | 7.20 | 7.11 | 6.52 | 7.30 | 7.90 | 7.38 | 6.96 | 6.75 | 7.32 | 8.56 | 8.73 | 6.94 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 5.85 | 5.71 | 5.84 | 5.79 | 5.82 | 5.51 | 5.35 | 5.21 | 5.73 | 6.22 | 4.97 | 5.05 | 5.20 | 4.91 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 14.88 | 18.22 | 18.37 | 16.27 | 15.65 | 20.07 | 19.60 | 18.53 | 16.35 | 19.86 | 20.63 | 19.62 | 16.73 | 20.32 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Receivables turnover
= (Net salesQ1 2023
+ Net salesQ4 2022
+ Net salesQ3 2022
+ Net salesQ2 2022)
÷ Trade accounts receivable, net
= (3,389 + 3,242 + 3,170 + 3,244)
÷ 2,076 = 6.28
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Boston Scientific Corp. receivables turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Payables Turnover
Boston Scientific Corp., payables turnover calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cost of products sold | 1,040) | 1,010) | 979) | 1,011) | 955) | 972) | 900) | 945) | 894) | 999) | 869) | 791) | 806) | 850) | 777) | 758) | 730) | 728) | 673) | 739) | 672) | |||||||
| Accounts payable | 868) | 862) | 803) | 732) | 696) | 794) | 674) | 689) | 615) | 513) | 452) | 408) | 605) | 542) | 512) | 524) | 498) | 349) | 453) | 403) | 404) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Payables turnover1 | 4.65 | 4.59 | 4.88 | 5.24 | 5.42 | 4.67 | 5.55 | 5.38 | 5.78 | 6.75 | 7.34 | 7.90 | 5.27 | 5.75 | 5.85 | 5.51 | 5.76 | 8.06 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 4.44 | 4.15 | 4.67 | 4.25 | 4.02 | 4.21 | 4.55 | 4.43 | 3.97 | 3.80 | 4.37 | 4.00 | 4.20 | 4.07 | — | — | — | — | — | — | — | |||||||
| Cigna Group | 7.18 | 7.31 | 7.44 | 7.44 | 7.89 | 7.68 | 7.71 | 7.60 | 7.74 | 7.75 | 8.02 | 8.30 | 9.06 | 9.34 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 22.08 | 18.07 | 18.75 | 19.22 | 19.38 | 19.14 | 18.49 | 20.72 | 20.50 | 19.72 | 18.61 | 21.70 | 21.06 | 20.13 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 7.57 | 7.47 | 7.48 | 7.35 | 7.28 | 7.59 | 7.31 | 7.30 | 7.31 | 7.75 | 8.32 | 8.42 | 8.48 | 9.25 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 7.78 | 8.17 | 8.07 | 7.61 | 7.63 | 8.35 | 7.76 | 7.81 | 7.32 | 7.57 | 7.20 | 7.12 | 7.90 | 8.97 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 12.99 | 13.78 | 12.01 | 12.68 | 14.36 | 14.45 | 14.13 | 13.71 | 14.80 | 18.35 | 12.46 | 13.18 | 10.69 | 11.08 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 4.62 | 4.46 | 5.14 | 5.41 | 5.67 | 4.98 | 5.56 | 5.19 | 5.56 | 4.72 | 4.96 | 4.84 | 4.89 | 4.69 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 6.86 | 7.26 | 7.07 | 6.90 | 6.78 | 7.63 | 6.98 | 6.97 | 6.58 | 7.29 | 7.40 | 8.02 | 6.96 | 7.21 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Payables turnover
= (Cost of products soldQ1 2023
+ Cost of products soldQ4 2022
+ Cost of products soldQ3 2022
+ Cost of products soldQ2 2022)
÷ Accounts payable
= (1,040 + 1,010 + 979 + 1,011)
÷ 868 = 4.65
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Boston Scientific Corp. payables turnover ratio decreased from Q3 2022 to Q4 2022 but then slightly increased from Q4 2022 to Q1 2023. |
Working Capital Turnover
Boston Scientific Corp., working capital turnover calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current assets | 5,704) | 5,760) | 5,144) | 5,083) | 5,065) | 6,317) | 6,229) | 6,758) | 6,101) | 6,694) | 6,160) | 5,803) | 4,823) | 4,699) | 4,847) | 6,334) | 6,234) | 4,003) | 3,971) | 3,929) | 4,080) | |||||||
| Less: Current liabilities | 4,083) | 3,803) | 3,549) | 3,883) | 4,275) | 4,274) | 4,022) | 4,073) | 3,393) | 3,681) | 3,302) | 3,108) | 3,976) | 4,866) | 4,254) | 4,850) | 4,479) | 5,260) | 5,082) | 4,753) | 4,988) | |||||||
| Working capital | 1,621) | 1,957) | 1,595) | 1,200) | 790) | 2,043) | 2,207) | 2,685) | 2,708) | 3,013) | 2,858) | 2,695) | 847) | (167) | 593) | 1,484) | 1,755) | (1,257) | (1,111) | (824) | (908) | |||||||
| Net sales | 3,389) | 3,242) | 3,170) | 3,244) | 3,026) | 3,127) | 2,932) | 3,077) | 2,752) | 2,708) | 2,659) | 2,003) | 2,543) | 2,904) | 2,707) | 2,631) | 2,493) | 2,561) | 2,393) | 2,490) | 2,379) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Working capital turnover1 | 8.05 | 6.48 | 7.88 | 10.27 | 15.39 | 5.82 | 5.20 | 4.17 | 3.74 | 3.29 | 3.54 | 3.77 | 12.73 | — | 17.52 | 6.79 | 5.66 | — | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 4.21 | 4.48 | 3.92 | 3.63 | 4.13 | 3.87 | 3.98 | 4.02 | 3.99 | 4.06 | 4.52 | 5.02 | 6.84 | 6.64 | — | — | — | — | — | — | — | |||||||
| Cigna Group | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 7.60 | 8.37 | 9.11 | 8.85 | 8.65 | 7.23 | 6.79 | 6.67 | 5.38 | 6.39 | 5.98 | 5.40 | 6.81 | 6.11 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 8.98 | 10.27 | 10.54 | 9.53 | 9.27 | 8.67 | 7.47 | 7.38 | 7.61 | 7.42 | 6.04 | 6.14 | 6.91 | 7.19 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 1.15 | 1.29 | 1.21 | 1.17 | 1.26 | 1.22 | 1.17 | 1.03 | 0.88 | 0.77 | 0.80 | 0.88 | 1.23 | 1.23 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 3.84 | 2.97 | 2.21 | 2.13 | 2.15 | 2.15 | 2.02 | 2.00 | 2.44 | 2.48 | 2.03 | 2.13 | 2.16 | 2.26 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Working capital turnover
= (Net salesQ1 2023
+ Net salesQ4 2022
+ Net salesQ3 2022
+ Net salesQ2 2022)
÷ Working capital
= (3,389 + 3,242 + 3,170 + 3,244)
÷ 1,621 = 8.05
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Boston Scientific Corp. working capital turnover ratio deteriorated from Q3 2022 to Q4 2022 but then improved from Q4 2022 to Q1 2023 exceeding Q3 2022 level. |
Average Inventory Processing Period
Boston Scientific Corp., average inventory processing period calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Inventory turnover | 1.97 | 2.12 | 2.19 | 2.19 | 2.17 | 2.30 | 2.33 | 2.59 | 2.53 | 2.56 | 2.25 | 2.13 | 1.96 | 1.97 | 1.91 | 2.22 | 2.34 | 2.41 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average inventory processing period1 | 185 | 172 | 167 | 167 | 168 | 158 | 157 | 141 | 145 | 142 | 162 | 172 | 186 | 185 | 191 | 164 | 156 | 151 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 132 | 118 | 108 | 113 | 109 | 102 | 105 | 111 | 122 | 122 | 135 | 142 | 125 | 119 | — | — | — | — | — | — | — | |||||||
| Cigna Group | 12 | 14 | 12 | 11 | 11 | 12 | 10 | 10 | 10 | 11 | 10 | 10 | 10 | 10 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 24 | 26 | 25 | 25 | 27 | 27 | 27 | 27 | 29 | 31 | 29 | 28 | 29 | 30 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 162 | 161 | 155 | 139 | 130 | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 174 | 166 | 161 | 153 | 148 | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.97 = 185
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Boston Scientific Corp. number of days of inventory outstanding deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Average Receivable Collection Period
Boston Scientific Corp., average receivable collection period calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Receivables turnover | 6.28 | 6.44 | 6.72 | 6.43 | 6.52 | 6.69 | 6.87 | 6.68 | 6.21 | 6.47 | 6.33 | 6.97 | 6.84 | 5.87 | 5.79 | 5.89 | 6.13 | 6.11 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average receivable collection period1 | 58 | 57 | 54 | 57 | 56 | 55 | 53 | 55 | 59 | 56 | 58 | 52 | 53 | 62 | 63 | 62 | 60 | 60 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 53 | 52 | 52 | 58 | 59 | 55 | 55 | 55 | 60 | 68 | 64 | 60 | 60 | 62 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 31 | 31 | 31 | 32 | 32 | 31 | 32 | 32 | 32 | 30 | 33 | 31 | 32 | 28 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 22 | 19 | 19 | 19 | 22 | 18 | 19 | 19 | 21 | 19 | 19 | 20 | 22 | 20 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 12 | 7 | 6 | 14 | 13 | 8 | 9 | 11 | 10 | 5 | 6 | 12 | 11 | 6 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 53 | 55 | 51 | 51 | 56 | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 62 | 64 | 63 | 63 | 63 | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 25 | 20 | 20 | 22 | 23 | 18 | 19 | 20 | 22 | 18 | 18 | 19 | 22 | 18 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.28 = 58
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Boston Scientific Corp. number of days of receivables outstanding deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Operating Cycle
Boston Scientific Corp., operating cycle calculation (quarterly data)
No. days
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 185 | 172 | 167 | 167 | 168 | 158 | 157 | 141 | 145 | 142 | 162 | 172 | 186 | 185 | 191 | 164 | 156 | 151 | — | — | — | |||||||
| Average receivable collection period | 58 | 57 | 54 | 57 | 56 | 55 | 53 | 55 | 59 | 56 | 58 | 52 | 53 | 62 | 63 | 62 | 60 | 60 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Operating cycle1 | 243 | 229 | 221 | 224 | 224 | 213 | 210 | 196 | 204 | 198 | 220 | 224 | 239 | 247 | 254 | 226 | 216 | 211 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 185 | 170 | 160 | 171 | 168 | 157 | 160 | 166 | 182 | 190 | 199 | 202 | 185 | 181 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 55 | 57 | 56 | 57 | 59 | 58 | 59 | 59 | 61 | 61 | 62 | 59 | 61 | 58 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 215 | 216 | 206 | 190 | 186 | 172 | 172 | 178 | 190 | 201 | 217 | 207 | 201 | 212 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 236 | 230 | 224 | 216 | 211 | 216 | 231 | 236 | 238 | 223 | 229 | 227 | 224 | 224 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 185 + 58 = 243
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Boston Scientific Corp. operating cycle deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |
Average Payables Payment Period
Boston Scientific Corp., average payables payment period calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Payables turnover | 4.65 | 4.59 | 4.88 | 5.24 | 5.42 | 4.67 | 5.55 | 5.38 | 5.78 | 6.75 | 7.34 | 7.90 | 5.27 | 5.75 | 5.85 | 5.51 | 5.76 | 8.06 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average payables payment period1 | 78 | 80 | 75 | 70 | 67 | 78 | 66 | 68 | 63 | 54 | 50 | 46 | 69 | 64 | 62 | 66 | 63 | 45 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 82 | 88 | 78 | 86 | 91 | 87 | 80 | 82 | 92 | 96 | 83 | 91 | 87 | 90 | — | — | — | — | — | — | — | |||||||
| Cigna Group | 51 | 50 | 49 | 49 | 46 | 48 | 47 | 48 | 47 | 47 | 46 | 44 | 40 | 39 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 17 | 20 | 19 | 19 | 19 | 19 | 20 | 18 | 18 | 19 | 20 | 17 | 17 | 18 | — | — | — | — | — | — | — | |||||||
| Elevance Health Inc. | 48 | 49 | 49 | 50 | 50 | 48 | 50 | 50 | 50 | 47 | 44 | 43 | 43 | 39 | — | — | — | — | — | — | — | |||||||
| Humana Inc. | 47 | 45 | 45 | 48 | 48 | 44 | 47 | 47 | 50 | 48 | 51 | 51 | 46 | 41 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 28 | 26 | 30 | 29 | 25 | 25 | 26 | 27 | 25 | 20 | 29 | 28 | 34 | 33 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 79 | 82 | 71 | 67 | 64 | 73 | 66 | 70 | 66 | 77 | 74 | 75 | 75 | 78 | — | — | — | — | — | — | — | |||||||
| UnitedHealth Group Inc. | 53 | 50 | 52 | 53 | 54 | 48 | 52 | 52 | 56 | 50 | 49 | 46 | 52 | 51 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.65 = 78
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Boston Scientific Corp. number of days of payables outstanding increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023. |
Cash Conversion Cycle
Boston Scientific Corp., cash conversion cycle calculation (quarterly data)
No. days
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 185 | 172 | 167 | 167 | 168 | 158 | 157 | 141 | 145 | 142 | 162 | 172 | 186 | 185 | 191 | 164 | 156 | 151 | — | — | — | |||||||
| Average receivable collection period | 58 | 57 | 54 | 57 | 56 | 55 | 53 | 55 | 59 | 56 | 58 | 52 | 53 | 62 | 63 | 62 | 60 | 60 | — | — | — | |||||||
| Average payables payment period | 78 | 80 | 75 | 70 | 67 | 78 | 66 | 68 | 63 | 54 | 50 | 46 | 69 | 64 | 62 | 66 | 63 | 45 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Cash conversion cycle1 | 165 | 149 | 146 | 154 | 157 | 135 | 144 | 128 | 141 | 144 | 170 | 178 | 170 | 183 | 192 | 160 | 153 | 166 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | 103 | 82 | 82 | 85 | 77 | 70 | 80 | 84 | 90 | 94 | 116 | 111 | 98 | 91 | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | 38 | 37 | 37 | 38 | 40 | 39 | 39 | 41 | 43 | 42 | 42 | 42 | 44 | 40 | — | — | — | — | — | — | — | |||||||
| Intuitive Surgical Inc. | 187 | 190 | 176 | 161 | 161 | 147 | 146 | 151 | 165 | 181 | 188 | 179 | 167 | 179 | — | — | — | — | — | — | — | |||||||
| Medtronic PLC | 157 | 148 | 153 | 149 | 147 | 143 | 165 | 166 | 172 | 146 | 155 | 152 | 149 | 146 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 185 + 58 – 78 = 165
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Boston Scientific Corp. cash conversion cycle deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023. |