Stryker Corporation

SYK · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$134,410	$137,257	$113,776	$92,522	$100,882	$92,439	$79,198	$59,132	$58,412	$45,197	$35,061	$35,704	$28,448	$20,864	$19,213	$21,287	$20,017	$16,304	$30,613	$22,439	$17,936	$19,358	$17,682	$13,974	$11,295	$9,896	$6,755	$5,330	$3,589	$2,891	$2,544	$1,776	$1,371	$1,866	$2,299	$708	$595	$298	$265	$224	$168
Enterprise value	$146,670	$147,634	$124,217	$104,120	$110,764	$103,840	$86,250	$65,292	$62,855	$48,727	$34,980	$34,677	$27,232	$18,341	$17,563	$17,928	$17,080	$14,129	$28,219	$21,039	$17,111	$19,018	$17,643	$14,438	$11,968	$10,855	$7,959	$6,725	$3,549	$2,895	$2,680	$1,860	$1,354	$1,826	$2,254	$674	$582	$300	$269	$220	$160
P/E (TTM) at period end	41.41×	45.86×	35.95×	39.24×	50.59×	57.81×	38.02×	16.64×	57.27×	27.44×	24.36×	69.33×	28.28×	16.07×	14.28×	16.72×	18.08×	14.20×	30.09×	28.85×	26.56×	41.57×	38.99×	40.43×	42.30×	44.78×	348.20×	134.60×	28.65×	27.67×	29.24×	24.53×	22.77×	39.12×	69.44×	30.00×	31.00×	18.75×	20.83×	22.22×	20.00×
P/S (TTM) at period end	5.35×	6.07×	5.55×	5.02×	5.90×	6.44×	5.32×	4.35×	4.69×	3.99×	3.53×	3.69×	3.15×	2.41×	2.31×	2.91×	2.98×	2.43×	5.10×	4.15×	3.68×	4.54×	4.88×	4.64×	4.34×	4.32×	3.21×	4.83×	3.66×	3.18×	2.92×	2.60×	2.46×	3.91×	6.30×	2.52×	2.63×	1.67×	1.79×	1.85×	1.65×
P/B at period end	6.00×	6.65×	6.12×	5.57×	6.78×	7.07×	6.18×	5.04×	5.86×	4.73×	4.12×	4.15×	3.14×	2.43×	2.50×	2.97×	3.03×	3.01×	5.69×	5.35×	5.43×	7.03×	8.21×	9.33×	10.69×	11.58×	10.06×	8.17×	5.86×	5.45×	5.60×	4.96×	4.75×	8.03×	12.78×	4.79×	5.31×	3.28×	3.52×	3.76×	3.46×
EV / EBITDA (TTM)	27.42×	35.87×	29.02×	32.42×	37.48×	40.51×	28.49×	22.97×	24.48×	20.29×	17.08×	24.15×	19.11×	9.68×	9.51×	9.36×	9.71×	8.44×	19.54×	14.42×	13.62×	17.41×	19.39×	19.68×	18.58×	20.61×	179.26×	29.70×	16.34×	17.14×	14.41×	13.16×	12.53×	21.45×	35.61×	15.75×	15.32×	–	–	–	–
EV / Sales (TTM)	5.84×	6.53×	6.06×	5.64×	6.47×	7.24×	5.79×	4.80×	5.05×	4.30×	3.52×	3.58×	3.02×	2.12×	2.11×	2.45×	2.54×	2.10×	4.70×	3.89×	3.51×	4.46×	4.87×	4.79×	4.60×	4.74×	3.78×	6.10×	3.62×	3.18×	3.07×	2.73×	2.43×	3.83×	6.18×	2.40×	2.58×	1.68×	1.82×	1.82×	1.58×
Returns
Return on equity	14.5%	14.5%	17.0%	14.2%	13.4%	12.2%	16.3%	30.3%	10.2%	17.2%	16.9%	6.0%	11.1%	15.1%	17.5%	17.7%	16.8%	21.2%	18.9%	18.6%	20.5%	16.9%	21.0%	23.1%	25.3%	25.9%	2.9%	6.1%	20.4%	19.7%	19.2%	20.2%	20.9%	20.5%	18.4%	16.0%	17.1%	17.5%	16.9%	16.9%	17.3%
Return on invested capital	10.1%	10.2%	11.5%	8.8%	9.1%	7.4%	11.1%	14.1%	7.7%	14.2%	16.9%	5.1%	10.0%	14.8%	15.7%	20.0%	18.2%	23.3%	18.4%	21.0%	21.9%	22.6%	22.4%	19.0%	18.3%	13.0%	(4.1%)	6.1%	20.6%	15.8%	15.1%	16.0%	21.2%	23.8%	23.5%	19.4%	19.9%	17.3%	16.0%	17.9%	20.0%
Dividend yield	1.0%	0.9%	1.0%	1.1%	0.9%	0.9%	1.0%	1.2%	1.1%	1.3%	1.5%	1.3%	1.4%	1.6%	1.5%	1.1%	1.0%	0.8%	0.3%	0.2%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%	0.3%	0.2%	0.2%	0.2%	0.2%	0.1%	–	–	–	–	–	–	–
Financial health
Current ratio	1.89×	1.95×	1.58×	1.63×	2.20×	1.93×	2.51×	2.02×	2.29×	2.50×	2.27×	1.95×	3.14×	4.34×	3.92×	4.76×	4.06×	3.41×	3.68×	2.62×	2.30×	1.92×	1.64×	1.63×	1.86×	1.61×	1.66×	1.88×	2.50×	2.99×	3.57×	3.02×	2.65×	2.66×	2.59×	3.04×	3.52×	3.43×	3.30×	3.06×	3.24×
Debt / equity	0.71×	0.66×	0.70×	0.79×	0.84×	1.07×	0.87×	0.84×	0.72×	0.72×	0.47×	0.46×	0.31×	0.20×	0.23×	0.14×	0.01×	0.00×	0.00×	0.00×	0.07×	0.00×	0.01×	0.33×	0.68×	1.18×	1.92×	2.30×	0.13×	0.18×	0.22×	0.28×	0.11×	0.01×	0.05×	0.03×	0.05×	0.07×	0.14×	0.07×	0.09×
Effective tax rate	28.1%	14.3%	13.8%	12.1%	12.6%	18.2%	18.7%	(50.8%)	50.6%	14.3%	17.1%	55.6%	17.0%	23.9%	20.2%	26.4%	31.8%	27.4%	28.0%	29.5%	31.0%	35.0%	30.5%	31.8%	33.0%	34.0%	34.9%	34.0%	35.8%	37.1%	43.5%	41.2%	37.4%	38.0%	38.0%	38.1%	38.1%	38.8%	42.3%	45.4%	44.4%
Share count
Diluted shares outstanding	386	386	384	382	382	380	380	380	380	378	381	383	382	383	390	400	399	414	417	411	411	409	424	427	399	402	388	393	392	394	388	387	388	382	389	363	384	353	363	337	336

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$25,837	$25,116	$22,595	$20,498	$18,449	$17,108	$14,351	$14,884	$13,601	$12,444	$11,325	$9,946	$9,675	$9,021	$8,657	$8,307	$7,320	$6,723	$6,718	$6,000	$5,406	$4,872	$4,262	$3,625	$3,012	$2,602	$2,289	$2,104	$1,103	$980	$910	$872	$682	$557	$477	$365	$281	$226	$179	$148	$121	$102
Cost of revenue	($9,049)	($9,051)	($8,155)	($7,440)	($6,871)	($6,140)	($5,294)	($5,188)	($4,663)	($4,271)	($3,830)	($3,344)	($3,319)	($3,002)	($2,781)	($2,811)	($2,286)	($2,184)	($2,131)	($1,865)	($1,892)	($1,767)	($1,558)	($1,312)	($1,111)	($964)	($740)	($724)	($434)	($364)	($358)	($341)	($280)	($241)	($210)	($161)	($126)	($101)	($79)	($67)	($56)	($47)
Gross profit	$16,788	$16,065	$14,440	$13,058	$11,578	$10,968	$9,057	$9,696	$8,938	$8,180	$7,504	$6,602	$6,356	$6,019	$5,876	$5,496	$5,034	$4,539	$4,587	$4,135	$3,513	$3,104	$2,704	$2,313	$1,900	$1,638	$1,549	$1,380	$669	$616	$552	$531	$402	$317	$267	$204	$155	$125	$100	$81	$65	$54
Operating expenses
Research and development	($1,658)	($1,623)	($1,466)	($1,388)	($1,454)	($1,235)	($984)	($971)	($862)	($787)	($715)	($625)	($614)	($536)	($471)	($462)	($394)	($336)	($368)	($375)	($325)	($285)	($211)	($180)	($141)	($142)	($122)	($105)	($61)	($57)	($57)	($44)	($40)	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($8,782)	($8,651)	($7,685)	($7,111)	($6,386)	($6,427)	($5,361)	($5,356)	($5,099)	($4,552)	($4,137)	($3,610)	($3,547)	($3,467)	($3,367)	($3,150)	($2,707)	($2,506)	($2,625)	($2,392)	($2,062)	($1,854)	($1,652)	($1,416)	($1,165)	($985)	($886)	($808)	($381)	($342)	($327)	($301)	($221)	($209)	($182)	($141)	($112)	($87)	($67)	($55)	($43)	($37)
Total operating expenses	($11,254)	($11,176)	($10,751)	($9,170)	($8,737)	($8,384)	($6,834)	($6,983)	($6,401)	($5,883)	($5,329)	($4,741)	($5,110)	($4,763)	($4,135)	($3,810)	($3,283)	($2,945)	($3,068)	($2,828)	($2,386)	($2,138)	($1,863)	($1,633)	($1,353)	($1,166)	($1,191)	($1,498)	($480)	($432)	($418)	($374)	($282)	($225)	($193)	($153)	($119)	($94)	($73)	($59)	($47)	($40)
Total costs and expenses	($20,303)	($20,227)	($18,906)	($16,610)	($15,608)	($14,524)	($12,128)	($12,171)	($11,064)	($10,147)	($9,150)	($8,085)	($8,429)	($7,765)	($6,916)	($6,621)	($5,569)	($5,129)	($5,199)	($4,693)	($4,279)	($3,906)	($3,421)	($2,945)	($2,464)	($2,130)	($1,931)	($2,222)	($914)	($796)	($776)	($715)	($561)	($465)	($403)	($313)	($245)	($194)	($152)	($126)	($103)	($87)
Operating income	$5,534	$4,889	$3,689	$3,888	$2,841	$2,584	$2,223	$2,713	$2,537	$2,297	$2,175	$1,861	$1,246	$1,256	$1,741	$1,686	$1,751	$1,594	$1,519	$1,307	$1,127	$966	$841	$680	$548	$472	$358	($118)	$189	$184	$134	$157	$120	$92	$74	$52	$36	$32	$26	$22	$18	$15
Earnings
EBITDA	$6,022	$5,350	$4,116	$4,281	$3,212	$2,955	$2,563	$3,027	$2,843	$2,568	$2,402	$2,048	$1,436	$1,425	$1,895	$1,846	$1,916	$1,759	$1,674	$1,444	$1,459	$1,256	$1,092	$910	$734	$644	$527	$44	$226	$217	$169	$186	$141	$108	$85	$63	$43	$38	–	–	–	–
Interest income	–	$121	$139	$75	$94	$68	$102	$155	$119	$60	$29	$14	$28	$24	$47	$70	$49	$54	$98	$86	$41	$13	$5	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($575)	($607)	($409)	($363)	($337)	($337)	($315)	($287)	($264)	($247)	($228)	($108)	($113)	($83)	($63)	($56)	($53)	($14)	($13)	($22)	($10)	($8)	($7)	($23)	($40)	($68)	($97)	($123)	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$5,148	$4,514	$3,492	$3,673	$2,683	$2,281	$1,954	$2,562	$2,356	$2,063	$1,921	$1,735	$1,160	$1,212	$1,705	$1,686	$1,729	$1,624	$1,580	$1,370	$1,104	$1,003	$717	$652	$507	$406	$335	$30	$60	$195	$166	$154	$123	$96	$77	$53	$38	$31	$26	$22	$18	$15
Income tax expense	($1,419)	($1,268)	($499)	($508)	($325)	($287)	($355)	($479)	$1,197	($1,043)	($274)	($296)	($645)	($206)	($407)	($341)	($456)	($517)	($432)	($383)	($326)	($311)	($251)	($199)	($161)	($134)	($114)	($10)	($20)	($70)	($62)	($67)	($51)	($36)	($29)	($20)	($14)	($12)	($10)	($9)	($8)	($7)
Net income	$3,729	$3,246	$2,993	$3,165	$2,358	$1,994	$1,599	$2,083	$3,553	$1,020	$1,647	$1,439	$515	$1,006	$1,298	$1,345	$1,273	$1,107	$1,148	$1,017	$778	$675	$466	$454	$346	$267	$221	$19	$40	$125	$104	$87	$72	$60	$48	$33	$24	$19	$16	$13	$10	$8
Per share
Diluted EPS (GAAP)	$9.65	$8.40	$7.76	$8.25	$6.17	$5.21	$4.20	$5.48	$9.34	$2.68	$4.35	$3.78	$1.34	$2.63	$3.39	$3.45	$3.19	$2.77	$2.78	$2.44	$1.89	$1.57	$1.08	$1.07	$0.81	$0.67	$0.55	$0.05	$0.15	$0.32	$0.27	$0.23	$0.19	$0.16	$0.13	$0.085	$0.065	$0.05	$0.045	$0.035	$0.03	$0.025
Basic EPS (GAAP)	$9.73	$8.49	$7.86	$8.34	$6.23	$5.29	$4.26	$5.57	$9.50	$2.73	$4.40	$3.82	$1.36	$2.66	$3.41	$3.48	$3.21	$2.79	$2.81	$2.48	$1.91	$1.60	$1.10	$1.09	$0.83	$0.69	$0.56	$0.05	$0.16	$0.33	$0.27	$0.23	$0.19	$0.16	$0.13	$0.09	$0.065	$0.05	$0.045	$0.035	$0.03	$0.025
Basic shares outstanding	383	382	381	380	378	377	376	374	374	374	374	377	378	379	381	386	396	397	408	410	407	404	401	416	416	387	391	388	387	386	387	388	387	388	382	368	363	384	353	363	337	336
Margins
Gross margin	65.0%	64.0%	63.9%	63.7%	62.8%	64.1%	63.1%	65.1%	65.7%	65.7%	66.3%	66.4%	65.7%	66.7%	67.9%	66.2%	68.8%	67.5%	68.3%	68.9%	65.0%	63.7%	63.4%	63.8%	63.1%	63.0%	67.7%	65.6%	60.6%	62.8%	60.7%	60.9%	59.0%	56.8%	55.9%	55.9%	55.2%	55.5%	55.8%	54.6%	53.7%	53.3%
Operating margin	21.4%	19.5%	16.3%	19.0%	15.4%	15.1%	15.5%	18.2%	18.7%	18.5%	19.2%	18.7%	12.9%	13.9%	20.1%	20.3%	23.9%	23.7%	22.6%	21.8%	20.8%	19.8%	19.7%	18.8%	18.2%	18.1%	15.6%	(5.6%)	17.1%	18.8%	14.7%	18.0%	17.7%	16.5%	15.4%	14.1%	12.7%	14.0%	14.8%	14.9%	15.1%	14.4%
Net margin	14.4%	12.9%	13.2%	15.4%	12.8%	11.7%	11.1%	14.0%	26.1%	8.2%	14.5%	14.5%	5.3%	11.2%	15.0%	16.2%	17.4%	16.5%	17.1%	17.0%	14.4%	13.9%	10.9%	12.5%	11.5%	10.3%	9.7%	0.9%	3.6%	12.8%	11.5%	10.0%	10.6%	10.8%	10.0%	9.1%	8.4%	8.5%	8.9%	8.6%	8.3%	8.3%

Analyst consensus

Buy52 analysts

Bearish · 0 · Hold · 15 · Bullish · 37

Earnings history

	EPS	Estimate
Q3 2024	$2.87	$2.77	Beat
Q4 2024	$4.01	$3.87	Beat
Q1 2025	$2.84	$2.71	Beat
Q2 2025	$3.13	$3.07	Beat
Q3 2025	$3.19	$3.13	Beat
Q4 2025	$4.47	$4.40	Beat
Q1 2026	$2.60	$2.98	Miss
Q2 2026	$3.69	$3.49	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOKevin A. Lobo

Employees56,000

SectorHealthcare

IndustryMedical - Devices

CountryUS

ExchangeNew York Stock Exchange

Websitewww.stryker.com

Stryker Corporation functions as a prominent medical technology enterprise, with its operations structured across two main divisions. The Orthopaedics and Spine segment specializes in providing implants for joint replacement procedures (including hips and knees), as well as solutions for trauma and extremities surgeries. This division also furnishes a comprehensive suite of spinal implant products, such as cervical, thoracolumbar, and interbody systems, utilized in addressing spinal injuries, deformities, and degenerative conditions. The MedSurg and Neurotechnology division offers an extensive array of products, encompassing advanced surgical equipment, surgical navigation systems, endoscopic and communication tools, patient handling devices, emergency medical apparatus, and critical care disposable items. This segment also deals in reprocessed and remanufactured medical devices, catering to various medical specialties. Furthermore, its neurotechnology offerings include devices for minimally invasive endovascular techniques, instruments for brain and open skull-based surgical interventions, and orthobiologic and biosurgery products like synthetic bone grafts and vertebral augmentation solutions. It also provides specialized minimally invasive products for treating acute ischemic and hemorrhagic strokes, alongside craniomaxillofacial implants, which include cranial, maxillofacial, and chest wall devices, in addition to dural substitutes and sealants. Stryker distributes its diverse portfolio to medical professionals, hospitals, and other healthcare institutions in approximately 75 countries, leveraging its network of company-owned subsidiaries, regional branches, and independent dealers and distributors. Established in 1941, Stryker Corporation is headquartered in Kalamazoo, Michigan.

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