BSX Boston Scientific
too hard · 62
Owner-earnings value$52.23
Price$44.39
Margin of safety
+17.7%
Quality gate · 62/100
⚠ sub-hurdle returns (median roic 7% < 9%)
Median ROIC6.8%
Gross margin69.2%
Net debt / EBITDA1.7x
FCF conversion119%
Share count / yr+1.1%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 3.30B |
| Owner-earnings yield | 5.1% |
| Free-cash-flow yield | 5.1% |
| Growth used (normalized) | 10.0% |
| Market-implied growth (reverse DCF) | 6.1% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.0% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 3.63B | 10.0% | 3.33B |
| 2 | 3.96B | 9.2% | 3.34B |
| 3 | 4.30B | 8.4% | 3.32B |
| 4 | 4.63B | 7.7% | 3.28B |
| 5 | 4.95B | 6.9% | 3.21B |
| 6 | 5.25B | 6.1% | 3.13B |
| 7 | 5.53B | 5.3% | 3.02B |
| 8 | 5.78B | 4.6% | 2.90B |
| 9 | 6.00B | 3.8% | 2.76B |
| 10 | 6.18B | 3.0% | 2.61B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~6%/yr owner-earnings growth over 10y (reverse DCF); model credits 10%.