BOSTON SCIENTIFIC CORP

BSX · Healthcare · FY2025 filings · Shallow moat

Doesn't clear the bar

Shallow moat

The four filters

Pricing power100

Median gross margin 69.3% over 10y, very stable.

Returns on capital13

Median ROIC 6.5%, above the 9% hurdle in 20% of years.

Balance-sheet safety50

Net debt/EBITDA 1.9x, interest coverage 10x.

Capital discipline75

Owner earnings +17.6%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $2.1B
Est. intrinsic value / share: —
Recent price: $43.85
Discount to value: No price data

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BSX. See the disclaimer.