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Boston Scientific cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$868M in Q3 2026 · $3.3B over twelve months

Operating cash flow$1.0B
Capital spending−$180M
Free cash flow+$868M
Cash / net income1.8×

Analysis

In Q3 2026, Boston Scientific generated $1.0B of operating cash flow and spent $180M on capital projects, leaving free cash flow of $868M. That is $294M less than in Q3 2025 ($1.2B).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.2B; the largest uses were other financing ($2.1B), other investing ($1.6B), acquisitions ($1.0B); besides operations, cash came from net borrowing (+) / repaid (−) ($522M), shares issued ($201M); the cash balance fell by $679M.

Operating cash flow was $1.0B against net income of $580M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$361M, payables +$89.0M, inventory −$86.0M.

Free cash flow

Boston Scientific: free cash flow by quarterBoston Scientific: free cash flow by quarter$1.2BQ4 2024$354MQ1 2025$1.1BQ2 2025$1.2BQ3 2025$1.0BQ4 2025$171MQ1 2026$1.3BQ2 2026$868MQ3 2026
Operating cash flow less capital spending.
Boston Scientific: operating cash flow against capital spendingBoston Scientific: operating cash flow against capital spendingOperating cash flowCapital spending$1.5B$277MQ4 2024$541M$187MQ1 2025$1.3B$157MQ2 2025$1.3B$181MQ3 2025$1.4B$351MQ4 2025$348M$177MQ1 2026$1.5B$195MQ2 2026$1.0B$180MQ3 2026
Latest (Q3 2026): Operating cash flow $1.0B, Capital spending $180M.

Capital allocation, year by year

Boston Scientific: where the cash came from (up) and went (down), by fiscal yearBoston Scientific: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $1.9BFY2021: Shares issued $110MFY2021: Asset sales $840MFY2021: Capital spending −$554MFY2021: Acquisitions −$2.3BFY2021: Dividends −$55.0M$2.8BFY2021FY2022: Operating cash flow $1.5BFY2022: Net borrowing −$165MFY2022: Shares issued $136MFY2022: Asset sales $17.0MFY2022: Capital spending −$588MFY2022: Acquisitions −$1.5BFY2022: Dividends −$55.0M$1.7BFY2022FY2023: Operating cash flow $2.5BFY2023: Net borrowing −$4.0MFY2023: Shares issued $182MFY2023: Asset sales $4.0MFY2023: Capital spending −$711MFY2023: Acquisitions −$1.8BFY2023: Dividends −$28.0M$2.7BFY2023FY2024: Operating cash flow $3.4BFY2024: Net borrowing $1.8BFY2024: Shares issued $230MFY2024: Asset sales $3.0MFY2024: Capital spending −$790MFY2024: Acquisitions −$4.6B$5.5BFY2024FY2025: Operating cash flow $4.5BFY2025: Net borrowing −$491MFY2025: Shares issued $282MFY2025: Capital spending −$876MFY2025: Acquisitions −$1.6B$4.8BFY2025
Over these 5 years operating cash flow totalled $13.9B; the largest uses were acquisitions ($11.8B) and capital spending ($3.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$609M
Debt$12.0B
Net debt$11.3B

Boston Scientific funds itself: free cash flow was $3.3B over the last twelve months, and $609M of cash and investments stands against $12.0B of debt.

Where the cash came from and went

Boston Scientific: sources (+) and uses (−) of cash, Q3 2026Boston Scientific: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$1.0BNet borrowing (+) / repaid (−)−$672MAcquisitions−$212MCapital spending−$180MShares issued$95.0MOther investing−$45.0MCash drawn (+) / kept (−)−$44.0MOther financing$8.0MExchange rates$2.0M
Boston Scientific: sources (+) and uses (−) of cash, TTM to Q3 2026Boston Scientific: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$4.2BOther financing−$2.1BOther investing−$1.6BAcquisitions−$1.0BCapital spending−$903MCash drawn (+) / kept (−)$679MNet borrowing (+) / repaid (−)$522MShares issued$201MExchange rates$6.0M

From profit to cash

Boston Scientific: net income to operating cash flow, Q3 2026Boston Scientific: net income to operating cash flow, Q3 2026Net income$580MDepreciation & amortization$361MStock-based pay$72.0MGains on investments−$12.0MReceivables−$69.0MInventory−$86.0MPayables$89.0MPrepaid and other assets−$32.0MOperating cash flow$1.0B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.0B−$180M−$212M−$672M$95.0M−$44.0M$868M
Q2 2026$1.5B−$195M−$195M$1.7B$5.0M$890M$1.3B
Q1 2026$348M−$177M−$523M−$259M$81.0M$504M$171M
Q4 2025$1.4B−$351M−$89.0M−$209M$20.0M−$671M$1.0B
Q3 2025$1.3B−$181M−$256M−$216M$115M−$735M$1.2B
Q2 2025$1.3B−$157M−$1.0B−$313M$32.0M$179M$1.1B
Q1 2025$541M−$187M−$239M$247M$115M−$314M$354M
Q4 2024$1.5B−$277M−$3.4B$189M$28.0M$2.0B$1.2B

Boston Scientific: income statement and cash flow

Boston Scientific, Q3 2026: revenue $5.1B (+1% year over year), operating margin 16.1%. The chart follows the revenue to costs, profit and cash.

Boston Scientific: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.