BOSTON SCIENTIFIC CORP vs ResMed Inc., two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
ResMed out-earns Boston Scientific on every margin line, 34.9% operating against 21.2%, 27.4% net against 17.3%, and returns on assets more than double, 17.3% against 8%, yet the two trade within one multiple turn of each other, 19.3 and 18.5 times earnings. The market's indifference is the story: Boston Scientific's cardiology-led growth franchise gets no premium over a sleep-apnea business the market has spent two years discounting for GLP-1 risk. Both are effectively debt-free; ResMed pays the only dividend and yields slightly more free cash, 6% against 5.3%. Two excellent device makers at the same price per dollar of earnings, one bought with anxiety attached, the other without; the anxiety is currently free.
Comparison updated 2026-07-10.
| Metric | BSX | RMD |
|---|---|---|
| Price | $44.13 | $200.28 |
| Market cap | $66.0B | $29.2B |
| Sector | Medical Devices | Medical Devices |
| Stage | Growth | Mature |
| Implied growth (priced in) | +6.7% | +4.3% |
| P/E | 18.5 | 19.3 |
| P/B | 2.53 | 4.50 |
| P/S | 3.20 | 5.27 |
| EV/EBITDA | 12.4 | 13.3 |
| Revenue growth | +17.6% | +10.3% |
| Gross margin | 69.5% | 62.3% |
| Operating margin | 21.2% | 34.9% |
| Net margin | 17.3% | 27.4% |
| Return on equity | 13.6% | 23.4% |
| Return on assets | 8.0% | 17.3% |
| Return on invested capital | 11.5% | 21.0% |
| FCF yield | 5.3% | 6.0% |
| Dividend yield | — | 1.1% |
| Debt / equity | 0.00 | 0.10 |
| Current ratio | 1.90 | 3.01 |
| Altman Z (solvency) | 6.88 | 8.30 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.