Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Enterprise Value to EBITDA (EV/EBITDA)

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Boston Scientific Corp., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income (loss) 698 1,041 (82) 4,700 1,671
Add: Income tax expense 443 35 3 (4,013) (249)
Earnings before tax (EBT) 1,141 1,076 (79) 687 1,422
Add: Interest expense 470 341 361 473 241
Earnings before interest and tax (EBIT) 1,611 1,417 282 1,160 1,663
Add: Depreciation and amortization 1,136 1,093 1,123 1,011 894
Earnings before interest, tax, depreciation and amortization (EBITDA) 2,747 2,510 1,405 2,171 2,557

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Boston Scientific Corp. EBITDA increased from 2020 to 2021 and from 2021 to 2022.

Enterprise Value to EBITDA Ratio, Current

Boston Scientific Corp., current EV/EBITDA calculation, comparison to benchmarks

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Selected Financial Data (US$ in millions)
Enterprise value (EV) 82,681
Earnings before interest, tax, depreciation and amortization (EBITDA) 2,747
Valuation Ratio
EV/EBITDA 30.10
Benchmarks
EV/EBITDA, Competitors1
Abbott Laboratories 19.94
Cigna Group 11.05
CVS Health Corp. 7.03
Elevance Health Inc. 8.42
Humana Inc. 5.39
Intuitive Surgical Inc. 74.98
Medtronic PLC 16.19
UnitedHealth Group Inc. 16.07
EV/EBITDA, Sector
Health Care Equipment & Services 15.22
EV/EBITDA, Industry
Health Care 14.98

Based on: 10-K (reporting date: 2022-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Boston Scientific Corp., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 75,700 69,502 62,324 65,513 62,154
Earnings before interest, tax, depreciation and amortization (EBITDA)2 2,747 2,510 1,405 2,171 2,557
Valuation Ratio
EV/EBITDA3 27.56 27.69 44.36 30.18 24.31
Benchmarks
EV/EBITDA, Competitors4
Abbott Laboratories 15.85 17.42 25.99 21.70
Cigna Group 8.88 9.06 6.31 8.42
CVS Health Corp. 12.42 10.41 8.56 9.43
Elevance Health Inc. 10.26 10.05 7.57 9.05
Humana Inc. 11.59 11.22 6.91 9.30
Intuitive Surgical Inc. 41.52 44.54 59.12 37.53
Medtronic PLC 14.99 24.41 17.92 16.01
UnitedHealth Group Inc. 15.11 17.39 13.39 13.82
EV/EBITDA, Sector
Health Care Equipment & Services 13.86 15.20 12.74 12.95
EV/EBITDA, Industry
Health Care 13.35 13.31 16.61 14.16

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 See details »

2 See details »

3 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 75,700 ÷ 2,747 = 27.56

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Boston Scientific Corp. EV/EBITDA ratio decreased from 2020 to 2021 and from 2021 to 2022.