Boston Scientific Corporation stock research
FY2025 Q4
Boston Scientific (BSX) Gross Margin — Quarter Ended Dec 31, 2025
Revenue and gross profit rose compared to both the previous quarter and the same quarter a year earlier. Gross margin improved year-over-year but decreased slightly from the prior quarter.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue and gross profit rose compared to both the previous quarter and the same quarter a year earlier. Gross margin improved year-over-year but decreased slightly from the prior quarter.
- The year-over-year improvement in gross margin coincided with a larger increase in revenue relative to cost of revenue. Sequentially, the gross margin decreased despite higher revenue, as cost of revenue increased.
- Compared to the prior quarter, gross profit increased while gross margin slightly weakened. Compared to the same quarter last year, both gross profit and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
69.6%
Gross profit
$3.7B
Revenue
$5.3B
Cost of revenue
$1.6B
Quarter-over-quarter change
-0.3 pts
Year-over-year change
+1.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2025 | $4.7B | $3.2B | $1.5B | 68.8% |
| Jun 30, 2025 | $5.1B | $3.4B | $1.6B | 67.7% |
| Sep 30, 2025 | $5.1B | $3.5B | $1.5B | 69.9% |
| Dec 31, 2025 | $5.3B | $3.7B | $1.6B | 69.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-0.3 pts
Year-over-year change
Dec 31, 2024
+1.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year improvement in gross margin coincided with a larger increase in revenue relative to cost of revenue. Sequentially, the gross margin decreased despite higher revenue, as cost of revenue increased.
Compared to the prior quarter, gross profit increased while gross margin slightly weakened. Compared to the same quarter last year, both gross profit and gross margin improved.
Monitor the trend in cost of revenue relative to revenue, as sequential margin compression occurred despite revenue growth.