Boston Scientific Corp (BSX)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	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
Inventory turnover	1.97	1.89	1.92	1.77	1.76	1.77	1.83	1.99	2.14	2.22	2.22	2.20	2.33	2.36	2.63	2.56	2.60	2.29	2.16	2.00
Receivables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	32.14	5.58	4.46	4.50	9.01	7.15	10.12	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

Boston Scientific Corp's inventory turnover has shown fluctuations over the past few years but has generally remained around 2 to 2.5 times annually. This indicates that the company is able to manage its inventory efficiently, with a good balance between stocking enough inventory to meet demand without overstocking.

The receivables turnover ratio data is not available, suggesting that the company does not provide information on how quickly it collects its accounts receivables. Without this data, it is challenging to assess the efficiency of Boston Scientific Corp's accounts receivable management.

Similarly, the payables turnover ratio data is also not provided. This ratio helps in understanding how quickly the company pays its suppliers, which is essential for evaluating its liquidity and relationships with vendors.

The working capital turnover ratio has shown significant variability, ranging from around 3 to over 30 times annually. A higher turnover ratio indicates that the company is effectively utilizing its working capital to generate sales. The fluctuation in this ratio may reflect changes in the company's operating cycle or efficiency in managing its working capital.

In summary, Boston Scientific Corp's inventory turnover indicates efficient inventory management, while limited information on receivables and payables turnover ratios hinders a comprehensive analysis of its overall activity ratios. The working capital turnover ratio fluctuates significantly, suggesting varying levels of efficiency in utilizing working capital to drive sales.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	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
Days of inventory on hand (DOH)	days	185.74	193.13	190.27	205.99	207.52	206.66	199.14	183.57	170.24	164.76	164.60	165.87	156.33	154.34	138.89	142.65	140.41	159.62	168.86	182.67
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, we can analyze the activity ratios of Boston Scientific Corp. First, let's look at the Days of Inventory on Hand (DOH), which measures the average number of days it takes for the company to sell its inventory.

From March 31, 2020, to December 31, 2024, Boston Scientific's DOH decreased steadily from 182.67 days to 185.74 days before slightly increasing to 207.52 days by December 31, 2024. The increase in DOH towards the end of the period may indicate that the company is holding more inventory, which could tie up working capital and potentially lead to higher storage costs.

Next, the Days of Sales Outstanding (DSO) and Number of Days of Payables data were not available, which limits our ability to analyze Boston Scientific Corp's accounts receivable and accounts payable turnover efficiency properly. DSO represents the average number of days it takes for a company to collect payment from customers, while the Number of Days of Payable represents the average number of days a company takes to pay its suppliers.

In conclusion, while we observed a slight increase in the Days of Inventory on Hand for Boston Scientific Corp, the lack of DSO and Payables data limits our ability to provide a comprehensive analysis of the company's overall activity ratios. For a more thorough assessment, further information on accounts receivable and accounts payable turnover is required.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	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
Fixed asset turnover	—	—	—	—	—	4.47	5.29	5.26	4.48	5.53	5.49	5.37	5.28	5.44	4.49	4.93	4.76	4.90	4.89	5.14
Total asset turnover	0.43	0.42	0.41	0.40	0.41	0.40	0.40	0.40	0.39	0.39	0.38	0.38	0.37	0.36	0.36	0.33	0.32	0.33	0.33	0.36

The fixed asset turnover ratio for Boston Scientific Corp has shown fluctuations over the years, with values ranging from 4.48 to 5.53. The ratio highlights the company's ability to generate sales from its fixed assets, such as property, plant, and equipment. An increasing trend in the fixed asset turnover ratio indicates improved efficiency in utilizing fixed assets to generate revenue.

On the other hand, the total asset turnover ratio for the company has been relatively stable, with values ranging from 0.32 to 0.43. This ratio measures how efficiently the company is utilizing all its assets to generate sales. A higher total asset turnover ratio signifies that the company is generating more revenue per dollar of assets, reflecting efficient asset utilization.

Overall, the fixed asset turnover and total asset turnover ratios provide insights into Boston Scientific Corp's operational efficiency in utilizing its fixed and total assets to generate revenue. An upward trend in these ratios indicates improved operational performance and asset utilization, ultimately contributing to the company's financial health and profitability.