NYSE : SYK
Stryker Corporation — Financial statements
Healthcare · Medical Devices · United States
Last price 311.75 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 119.58B
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Financial statements
Stryker Corporation (SYK) reported revenue of 26.30B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 26.30B | 25.12B | 22.59B | 20.50B | 18.45B | 17.11B |
| Cost of Revenue | 9.02B | 8.78B | 8.05B | 7.40B | 6.80B | 5.85B |
| Gross Profit | 17.28B | 16.34B | 14.54B | 13.10B | 11.65B | 11.26B |
| Selling, General & Admin | 8.61B | 8.24B | 7.50B | 6.96B | 6.10B | 5.75B |
| Research & Development | 1.65B | 1.60B | 1.46B | 1.39B | 1.37B | 1.24B |
| Amortization of Goodwill & Intangibles | 719.00M | 732.00M | 623.00M | 635.00M | 627.00M | 619.00M |
| Operating Expenses | 10.98B | 10.58B | 9.59B | 8.98B | 8.09B | 7.61B |
| Operating Income | 6.30B | 5.76B | 4.96B | 4.11B | 3.55B | 3.66B |
| Interest Expense | -586.00M | -607.00M | -409.00M | -363.00M | -337.00M | -337.00M |
| Interest & Investment Income | 127.00M | 121.00M | 139.00M | 75.00M | 25.00M | 15.00M |
| Currency Exchange Gain (Loss) | 41.00M | 77.00M | 75.00M | 59.00M | 69.00M | 43.00M |
| Other Non Operating Income (Expenses) | 128.00M | 9.00M | 1.00M | 14.00M | 88.00M | -11.00M |
| EBT Excluding Unusual Items | 6.01B | 5.36B | 4.76B | 3.90B | 3.40B | 3.37B |
| Merger & Restructuring Charges | -14.00M | -229.00M | -101.00M | -31.00M | -331.00M | -982.00M |
| Impairment of Goodwill | -293.00M | -456.00M | -216.00M | |||
| Asset Writedown | -7.00M | -114.00M | -466.00M | -26.00M | -8.00M | |
| Other Unusual Items | -583.00M | -499.00M | -247.00M | -169.00M | -160.00M | -103.00M |
| Pretax Income | 5.12B | 4.51B | 3.49B | 3.67B | 2.68B | 2.28B |
| Income Tax Expense | 1.49B | 1.27B | 499.00M | 508.00M | 325.00M | 287.00M |
| Net Income | 3.62B | 3.25B | 2.99B | 3.17B | 2.36B | 1.99B |
| Net Income to Common | 3.62B | 3.25B | 2.99B | 3.17B | 2.36B | 1.99B |
| Shares Outstanding (Basic) | 382.80M | 382.20M | 381.00M | 379.60M | 378.20M | 377.00M |
| Shares Outstanding (Diluted) | 385.98M | 386.50M | 385.60M | 383.70M | 382.20M | 382.30M |
| EPS (Basic) | 9.46 | 8.49 | 7.86 | 8.34 | 6.23 | 5.29 |
| EPS (Diluted) | 9.39 | 8.40 | 7.76 | 8.25 | 6.17 | 5.21 |
| Free Cash Flow | 4.57B | 4.28B | 3.49B | 3.14B | 2.04B | 2.74B |
| Free Cash Flow Per Share | 11.85 | 11.08 | 9.04 | 8.17 | 5.33 | 7.16 |
| Dividend Per Share | 3.52 | 3.40 | 3.24 | 3.05 | 2.83 | 2.58 |
| Gross Margin | 65.70% | 65.04% | 64.37% | 63.89% | 63.12% | 65.83% |
| Operating Margin | 23.97% | 22.92% | 21.93% | 20.07% | 19.26% | 21.37% |
| Profit Margin | 13.78% | 12.92% | 13.25% | 15.44% | 12.78% | 11.65% |
| Free Cash Flow Margin | 17.39% | 17.05% | 15.43% | 15.30% | 11.04% | 16.00% |
| EBITDA | 7.51B | 6.95B | 6.01B | 5.14B | 4.55B | 4.65B |
| EBITDA Margin | 28.56% | 27.67% | 26.58% | 25.09% | 24.67% | 27.16% |
| D&A For EBITDA | 1.21B | 1.19B | 1.05B | 1.03B | 998.00M | 990.00M |
| EBIT | 6.30B | 5.76B | 4.96B | 4.11B | 3.55B | 3.66B |
| EBIT Margin | 23.97% | 22.92% | 21.93% | 20.07% | 19.26% | 21.37% |
| Effective Tax Rate | 29.18% | 28.09% | 14.29% | 13.83% | 12.11% | 12.58% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.27B | 4.01B | 3.65B | 2.97B | 1.84B | 2.94B |
| Short-Term Investments | 89.00M | 841.00M | 82.00M | 84.00M | 75.00M | |
| Cash & Short-Term Investments | 3.27B | 4.10B | 4.49B | 3.05B | 1.93B | 3.02B |
| Receivables | 3.69B | 4.04B | 3.99B | 3.77B | 3.56B | 3.02B |
| Inventory | 5.75B | 5.31B | 4.77B | 4.84B | 4.00B | 3.31B |
| Prepaid Expenses | 1.42B | 815.00M | 957.00M | 743.00M | 758.00M | 516.00M |
| Other Current Assets | 51.00M | 491.00M | 636.00M | 114.00M | 29.00M | 146.00M |
| Total Current Assets | 14.18B | 14.76B | 14.85B | 12.52B | 10.28B | 10.02B |
| Property, Plant & Equipment | 4.57B | 4.39B | 3.96B | 3.71B | 3.44B | 3.25B |
| Goodwill | 19.33B | 19.29B | 15.86B | 15.24B | 14.88B | 12.92B |
| Other Intangible Assets | 5.54B | 5.68B | 4.39B | 4.59B | 4.88B | 4.84B |
| Long-Term Deferred Tax Assets | 901.00M | 1.10B | 1.74B | 1.67B | 1.41B | 1.76B |
| Other Long-Term Assets | 2.72B | 2.62B | 2.17B | 2.18B | 1.99B | 1.84B |
| Total Assets | 47.25B | 47.84B | 42.97B | 39.91B | 36.88B | 34.63B |
| Accounts Payable | 1.63B | 1.80B | 1.68B | 1.52B | 1.41B | 1.13B |
| Accrued Expenses | 3.47B | 3.87B | 3.35B | 3.42B | 2.92B | 2.68B |
| Current Portion of Long-Term Debt | 754.00M | 1.00B | 1.41B | 2.09B | 1.19B | 7.00M |
| Current Portion of Leases | 160.00M | 153.00M | 144.00M | 143.00M | 121.00M | 112.00M |
| Current Income Taxes Payable | 65.00M | 418.00M | 539.00M | 391.00M | 292.00M | 192.00M |
| Other Current Liabilities | 417.00M | 551.00M | 494.00M | 356.00M | 369.00M | 430.00M |
| Total Current Liabilities | 6.50B | 7.79B | 7.62B | 7.92B | 6.30B | 4.55B |
| Long-Term Debt | 14.18B | 14.86B | 12.19B | 10.90B | 11.86B | 12.47B |
| Long-Term Leases | 343.00M | 348.00M | 379.00M | 356.00M | 357.00M | 310.00M |
| Pension & Post-Retirement Benefits | 336.00M | 335.00M | 359.00M | 271.00M | 491.00M | |
| Long-Term Deferred Tax Liabilities | 137.00M | 82.00M | 63.00M | 67.00M | 68.00M | |
| Other Long-Term Liabilities | 2.77B | 1.95B | 1.74B | 1.72B | 1.41B | 1.86B |
| Total Liabilities | 23.79B | 25.42B | 22.34B | 21.32B | 20.27B | 19.75B |
| Common Stock | 38.00M | 38.00M | 38.00M | 38.00M | 38.00M | 38.00M |
| Additional Paid-In Capital | 2.76B | 2.60B | 2.36B | 2.20B | 2.03B | 1.89B |
| Retained Earnings | 21.25B | 20.47B | 18.53B | 16.77B | 14.77B | 13.48B |
| Comprehensive Income & Other | -593.00M | -687.00M | -293.00M | -416.00M | -221.00M | -531.00M |
| Total Common Equity | 23.46B | 22.42B | 20.63B | 18.59B | 16.62B | 14.88B |
| Shareholders' Equity | 23.46B | 22.42B | 20.63B | 18.59B | 16.62B | 14.88B |
| Total Liabilities & Equity | 47.25B | 47.84B | 42.97B | 39.91B | 36.88B | 34.63B |
| Total Debt | 15.43B | 16.36B | 14.12B | 13.49B | 13.53B | 12.90B |
| Net Cash (Debt) | -12.16B | -12.26B | -9.63B | -10.44B | -11.60B | -9.88B |
| Net Cash Per Share | -31.51 | -31.72 | -24.97 | -27.21 | -30.35 | -25.85 |
| Filing Date Shares Outstanding | 380.69M | 382.69M | 381.58M | 380.26M | 378.83M | 377.54M |
| Total Common Shares Outstanding | 380.69M | 382.50M | 381.40M | 380.10M | 378.70M | 377.50M |
| Working Capital | 7.68B | 6.96B | 7.23B | 4.60B | 3.97B | 5.47B |
| Book Value Per Share | 61.62 | 58.61 | 54.10 | 48.92 | 43.88 | 39.41 |
| Tangible Book Value | -1.41B | -2.55B | 384.00M | -1.24B | -3.15B | -2.88B |
| Tangible Book Value Per Share | -3.71 | -6.67 | 1.01 | -3.27 | -8.32 | -7.63 |
| Land | 1.82B | 1.79B | 1.63B | 1.69B | 1.74B | 1.66B |
| Machinery | 6.18B | 5.74B | 5.06B | 4.65B | 4.07B | 3.84B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.62B | 3.25B | 2.99B | 3.17B | 2.36B | 1.99B |
| Depreciation & Amortization | 1.21B | 1.19B | 1.05B | 1.03B | 998.00M | 990.00M |
| Asset Writedown & Restructuring Costs | 301.00M | 170.00M | 977.00M | 36.00M | 270.00M | 264.00M |
| Stock-Based Compensation | 256.00M | 243.00M | 229.00M | 205.00M | 168.00M | 171.00M |
| Other Operating Activities | 380.00M | 565.00M | -324.00M | -206.00M | 70.00M | 132.00M |
| Change in Accounts Receivable | -77.00M | 127.00M | -321.00M | -175.00M | -579.00M | -377.00M |
| Change in Inventory | -392.00M | -297.00M | -206.00M | -797.00M | -762.00M | -189.00M |
| Change in Accounts Payable | 145.00M | 94.00M | 192.00M | 77.00M | 290.00M | 329.00M |
| Change in Income Taxes | 37.00M | -145.00M | -116.00M | -4.00M | -238.00M | -98.00M |
| Change in Other Net Operating Assets | -34.00M | -152.00M | -232.00M | 382.00M | 49.00M | 47.00M |
| Operating Cash Flow | 5.45B | 5.04B | 4.24B | 3.71B | 2.62B | 3.26B |
| Capital Expenditures | -873.00M | -761.00M | -755.00M | -575.00M | -588.00M | -525.00M |
| Cash Acquisitions | -491.00M | -4.96B | -1.63B | -390.00M | -2.56B | -339.00M |
| Divestitures | 165.00M | |||||
| Investment in Securities | 81.00M | 750.00M | -750.00M | -9.00M | 6.00M | |
| Other Investing Activities | -33.00M | -60.00M | 133.00M | 3.00M | 236.00M | -1.00M |
| Investing Cash Flow | -1.32B | -4.87B | -3.00B | -962.00M | -2.92B | -859.00M |
| Short-Term Debt Issued | 540.00M | |||||
| Long-Term Debt Issued | 2.98B | 3.01B | 1.24B | 1.50B | 5.00M | |
| Total Debt Issued | 246.00M | 2.98B | 3.01B | 1.78B | 1.50B | 5.00M |
| Short-Term Debt Repaid | -32.00M | -375.00M | -7.00M | |||
| Long-Term Debt Repaid | -1.40B | -2.04B | -2.06B | -653.00M | -1.15B | |
| Total Debt Repaid | -1.75B | -1.40B | -2.07B | -2.06B | -1.03B | -1.16B |
| Net Debt Issued (Repaid) | -1.50B | 1.58B | 940.00M | -277.00M | 472.00M | -1.15B |
| Repurchase of Common Stock | -1.17B | -149.00M | -195.00M | -155.00M | -122.00M | -114.00M |
| Common Dividends Paid | -1.33B | -1.28B | -1.22B | -1.14B | -1.05B | -950.00M |
| Other Financing Activities | -81.00M | -33.00M | -51.00M | -23.00M | -48.00M | -148.00M |
| Financing Cash Flow | -4.09B | 113.00M | -525.00M | -1.59B | -749.00M | -2.37B |
| Foreign Exchange Rate Adjustments | -24.00M | 68.00M | -36.00M | -28.00M | -51.00M | -38.00M |
| Net Cash Flow | 15.00M | 359.00M | 681.00M | 1.13B | -1.10B | 1.00M |
| Free Cash Flow | 4.57B | 4.28B | 3.49B | 3.14B | 2.04B | 2.74B |
| Free Cash Flow Margin | 17.39% | 17.05% | 15.43% | 15.30% | 11.04% | 16.00% |
| Free Cash Flow Per Share | 11.85 | 11.08 | 9.04 | 8.17 | 5.33 | 7.16 |
| Levered Free Cash Flow | 3.70B | 4.17B | 2.86B | 2.58B | 1.80B | 2.65B |
| Unlevered Free Cash Flow | 4.07B | 4.55B | 3.11B | 2.80B | 2.01B | 2.87B |
| Cash Interest Paid | 582.00M | 582.00M | 396.00M | 356.00M | 324.00M | 325.00M |
| Cash Income Tax Paid | 1.00B | 1.00B | 989.00M | 693.00M | 505.00M | 622.00M |
| Change in Working Capital | -321.00M | -373.00M | -683.00M | -517.00M | -1.24B | -288.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 116.80B | 134.41B | 137.26B | 113.78B | 92.52B | 100.88B |
| Enterprise Value | 128.96B | 148.20B | 148.58B | 125.03B | 104.25B | 111.30B |
| Last Close Price | 306.81 | 348.48 | 353.72 | 291.51 | 235.47 | 254.34 |
| PE Ratio | 32.68 | 41.41 | 45.86 | 35.95 | 39.24 | 50.59 |
| Forward PE | 19.19 | 24.23 | 27.41 | 26.45 | 25.33 | 26.92 |
| PS Ratio | 4.44 | 5.35 | 6.08 | 5.55 | 5.01 | 5.90 |
| PB Ratio | 4.98 | 6.00 | 6.65 | 6.12 | 5.57 | 6.78 |
| P/TBV Ratio | 357.44 | |||||
| P/FCF Ratio | 25.54 | 31.38 | 39.36 | 36.28 | 45.44 | 36.84 |
| P/OCF Ratio | 21.45 | 26.65 | 32.36 | 30.66 | 35.26 | 30.92 |
| PEG Ratio | 2.16 | 2.46 | 2.85 | 3.06 | 3.28 | 2.37 |
| EV/Sales Ratio | 4.90 | 5.90 | 6.58 | 6.10 | 5.65 | 6.51 |
| EV/EBITDA Ratio | 17.17 | 21.33 | 24.74 | 24.32 | 22.91 | 23.96 |
| EV/EBIT Ratio | 20.46 | 25.75 | 29.98 | 30.39 | 29.34 | 30.44 |
| EV/FCF Ratio | 28.20 | 34.60 | 42.61 | 39.87 | 51.20 | 40.65 |
| Debt / Equity Ratio | 0.66 | 0.73 | 0.68 | 0.73 | 0.81 | 0.87 |
| Debt / EBITDA Ratio | 2.00 | 2.29 | 2.28 | 2.54 | 2.88 | 2.70 |
| Debt / FCF Ratio | 3.38 | 3.82 | 4.05 | 4.30 | 6.64 | 4.71 |
| Net Debt / Equity Ratio | 0.52 | 0.55 | 0.47 | 0.56 | 0.70 | 0.66 |
| Net Debt / EBITDA Ratio | 1.62 | 1.76 | 1.60 | 2.03 | 2.55 | 2.13 |
| Net Debt / FCF Ratio | 2.66 | 2.86 | 2.76 | 3.33 | 5.70 | 3.61 |
| Asset Turnover | 0.56 | 0.55 | 0.55 | 0.53 | 0.52 | 0.50 |
| Inventory Turnover | 1.62 | 1.74 | 1.67 | 1.68 | 1.86 | 1.72 |
| Quick Ratio | 1.07 | 1.04 | 1.11 | 0.86 | 0.87 | 1.33 |
| Current Ratio | 2.18 | 1.89 | 1.95 | 1.58 | 1.63 | 2.20 |
| Return on Equity (ROE) | 16.02% | 15.08% | 15.26% | 17.98% | 14.97% | 14.26% |
| Return on Assets (ROA) | 8.36% | 7.92% | 7.47% | 6.70% | 6.21% | 6.63% |
| Return on Invested Capital (ROIC) | 12.47% | 12.75% | 14.33% | 12.38% | 11.79% | 12.98% |
| Return on Capital Employed (ROCE) | 15.50% | 14.40% | 14.00% | 12.90% | 11.60% | 12.20% |
| Earnings Yield | 3.06% | 2.42% | 2.18% | 2.78% | 2.55% | 1.98% |
| FCF Yield | 3.92% | 3.19% | 2.54% | 2.76% | 2.20% | 2.71% |
| Dividend Yield | 1.15% | 0.97% | 0.90% | 1.02% | 1.16% | 0.97% |
| Payout Ratio | 37.49% | 39.56% | 40.73% | 35.99% | 44.57% | 47.64% |
| Buyback Yield / Dilution | 0.12% | -0.23% | -0.50% | -0.39% | 0.03% | -0.53% |
| Total Shareholder Return | 1.26% | 0.73% | 0.40% | 0.63% | 1.19% | 0.44% |