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Boston Scientific (BSX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Boston Scientific (BSX) Q3 2026 earnings results →
Q3 2026 Revenue up 1% year over year to $5.1B · 11¢ of every $1 of revenue kept as net profit · operating margin 16.1%
Boston Scientific made $5.1B in Q3 2026 (+1% Y/Y): Interventional Cardiology & Vascular Therapies $1.3B, Electrophysiology $816M, Endoscopy $741M. Operating margin 16.1%, net earnings $580M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $5.1B in Q3 2026, up 1% year over year and down 6% from the previous quarter. Interventional Cardiology & Vascular Therapies was the largest line at 25% of revenue. Interventional Cardiology & Vascular Therapies added $0.14B year over year (up 12%), 189% of the total change. Watchman declined 6%.
Gross margin was 66.7%, down 3.2 points from Q3 2025. Operating profit was $0.83B, a 16.1% margin (down 4.6 points year over year). Operating profit fell $0.22B even though revenue rose $0.07B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+66%). Net earnings were $0.58B, down 23% year over year. The effective tax rate was 20.9%.
Operating cash flow was $1.0B (down 22% year over year), 181% of net earnings. Non-cash charges added back $0.36B of depreciation and amortization and $0.07B of share-based compensation. Capital expenditures of $0.18B left free cash flow of $0.87B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $5.1B | +1% | 16.1% | $580M | $1.0B |
| Q2 2026 | 10-Q | Aug 3, 2026 | $5.4B | +8% | 21.6% | $905M | $1.5B |
| Q1 2026 | 10-Q | May 1, 2026 | $5.2B | +12% | 21.2% | $1.3B | $348M |
| Q4 2025 | 10-K | Feb 17, 2026 | $5.3B | +16% | 15.6% | $670M | $1.4B |
| Q3 2025 | 10-Q | Nov 3, 2025 | $5.1B | +20% | 20.7% | $755M | $1.3B |
| Q2 2025 | 10-Q | Aug 1, 2025 | $5.1B | +23% | 16.2% | $795M | $1.3B |
| Q1 2025 | 10-Q | May 1, 2025 | $4.7B | +21% | 19.8% | $672M | $541M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Boston Scientific
Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. Our mission is to transform lives through innovative medical solutions that improve the health of patients around the world. As a medical technology leader for more than 45 years, we have advanced the practice of less-invasive medicine by helping physicians and other medical professionals diagnose and treat a wide range of diseases and medical conditions and improve patients’ quality of life by providing alternatives to surgery and other medical procedures that are typically traumatic to the body. We advance science for life by providing a broad range of high-performance solutions to address unmet patient needs and reduce the cost of health care.
In its own words, from its 10-K, filed Feb 17, 2026.
Boston Scientific against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +5%. Operating margin: 16.1% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
| DXCM DexCom | Q3 2026 | $1.3B | +11% | 24.3% |
Source: Boston Scientific 10-Q on SEC EDGAR · CIK 885725 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns BSX and who is buying
More on BSX
- How Boston Scientific makes money: revenue by segment
- Boston Scientific next earnings date and what analysts expect
- Boston Scientific stock forecast, price target and fair value
- Who owns Boston Scientific stock: holders, funds and Congress trades
- Boston Scientific guidance and outlook
- Is Boston Scientific a takeover target? LBO and rumors
- Boston Scientific recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Boston Scientific guidance history: guided vs reported
- Boston Scientific gross margin by quarter
- Boston Scientific operating margin by quarter
- Boston Scientific net income by quarter
- Boston Scientific free cash flow by quarter
- Boston Scientific R&D spending by quarter
- Boston Scientific capital expenditures by quarter
- Boston Scientific Interventional Cardiology & Vascular Therapies revenue by quarter
- Boston Scientific Electrophysiology revenue by quarter
- Boston Scientific Endoscopy revenue by quarter