Boston Scientific vs Stryker
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KIRA’s take AI analyst
I put Boston Scientific and Stryker side by side, using each one’s latest annual report. Here is what stands out:
- Stryker is the larger business, with $25.1B of revenue in fiscal 2025 against $20.1B for Boston Scientific.
- Boston Scientific grew revenue faster (19.9%, against 11.2%).
- Stryker kept more of each dollar of sales as operating profit (19.5% operating margin, against 18.0%).
- Boston Scientific turned more of its sales into free cash flow (18.2% FCF margin, against 17.1%).
- Stryker earned a higher return on the capital invested in it (11.3%, against 9.6%).
- Investors pay more for each dollar of Stryker’s earnings: a P/E of 31.7x against 18.5x for Boston Scientific.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Boston Scientific
BSX
6/11
Revenue growth5-year growthGross marginNet marginFCF marginPiotroski F-score
Stryker
SYK
5/11
Operating marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BSX FY25 | SYK FY25 |
|---|---|---|
| Size | ||
| Market cap | $67.2B | $118.2B |
| Revenue | $20.1B | $25.1B |
| Free cash flow | $3.7B | $4.3B |
| Net income | $2.9B | $3.2B |
| Growth | ||
| Revenue growth | 19.9% | 11.2% |
| 5-year growth | 15.2% | 11.8% |
| Share count change | 0.6% | 0.2% |
| Profitability | ||
| Gross margin | 69.0% | 64.0% |
| Operating margin | 18.0% | 19.5% |
| Net margin | 14.4% | 12.9% |
| FCF margin | 18.2% | 17.1% |
| Return on capital | 9.6% | 11.3% |
| Return on equity | 12.6% | 15.1% |
| Balance sheet | ||
| Net debt | $9.2B | $10.8B |
| Net debt / EBITDA | 1.8x | 1.7x |
| Dividends and buybacks | $0.0M | $1.3B |
| Valuation & quality | ||
| P/E | 18.5x | 31.7x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.