SYK · Stryker Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $25.12B | $22.59B | $20.50B | $18.45B | $17.11B | $14.35B |
| Cost of Revenue | $9.05B | $8.15B | $7.44B | $6.87B | $6.14B | $5.29B |
| Gross Profit | $16.07B | $14.44B | $13.06B | $11.58B | $10.97B | $9.06B |
| R&D | $1.62B | $1.47B | $1.39B | $1.45B | $1.24B | $984.00M |
| SG&A | $8.65B | $7.68B | $7.13B | $6.46B | $6.43B | $5.36B |
| Total Operating Expenses | $11.18B | $10.75B | $9.17B | $8.74B | $8.38B | $6.83B |
| D&A | $1.57B | $1.43B | $1.34B | $1.28B | $1.27B | $1.08B |
| Operating Income | $4.89B | $3.69B | $3.89B | $2.84B | $2.58B | $2.22B |
| Interest Expense | $582.00M | $396.00M | $356.00M | $337.00M | $337.00M | $315.00M |
| Income Tax | $1.27B | $499.00M | $508.00M | $325.00M | $287.00M | $355.00M |
| Net Income | $3.25B | $2.99B | $3.17B | $2.36B | $1.99B | $1.60B |
| EPS - Basic | $8.49 | $7.86 | $8.34 | $6.23 | $5.29 | $4.26 |
| EPS - Diluted | $8.40 | $7.76 | $8.25 | $6.17 | $5.21 | $4.20 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.01B | $3.65B | $2.97B | $1.84B | $2.94B | $2.94B |
| Accounts Receivable | $4.04B | $3.99B | $3.77B | $3.56B | $3.02B | $2.70B |
| Inventory | $5.31B | $4.77B | $4.84B | $4.00B | $3.31B | $3.49B |
| Accounts Payable | $1.80B | $1.68B | $1.52B | $1.41B | $1.13B | $810.00M |
| Current Assets | $14.76B | $14.85B | $12.52B | $10.28B | $10.02B | $9.71B |
| Total Assets | $47.84B | $42.97B | $39.91B | $36.88B | $34.63B | $34.33B |
| Current Liabilities | $7.79B | $7.62B | $7.92B | $6.30B | $4.55B | $5.04B |
| Long-term Debt | $14.86B | $12.19B | $10.90B | $11.86B | $12.47B | $13.23B |
| Total Liabilities | $25.42B | $22.34B | $21.32B | $20.27B | $19.75B | $21.25B |
| Stockholders' Equity | $22.42B | $20.63B | $18.59B | $16.62B | $14.88B | $13.08B |
| Retained Earnings | $20.47B | $18.53B | $16.77B | $14.77B | $13.48B | $12.46B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.04B | $4.24B | $3.71B | $2.62B | $3.26B | $3.28B |
| Investing Cash Flow | ($4.87B) | ($3.00B) | ($962.00M) | ($2.92B) | ($859.00M) | ($4.70B) |
| Financing Cash Flow | $113.00M | ($525.00M) | ($1.59B) | ($749.00M) | ($2.37B) | ($11.00M) |
| CapEx | $761.00M | $755.00M | $575.00M | $588.00M | $525.00M | $487.00M |
| Free Cash Flow | $4.28B | $3.49B | $3.14B | $2.04B | $2.74B | $2.79B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 64.0% | 63.9% | 63.7% | 62.8% | 64.1% | 63.1% |
| Operating margin | 19.5% | 16.3% | 19.0% | 15.4% | 15.1% | 15.5% |
| EBITDA margin | 25.7% | 22.6% | 25.5% | 22.3% | 22.5% | 23.0% |
| Net margin | 12.9% | 13.2% | 15.4% | 12.8% | 11.7% | 11.1% |
| Free cash flow margin | 17.1% | 15.4% | 15.3% | 11.0% | 16.0% | 19.4% |
| FCF / Net income | 1.32 | 1.17 | 0.99 | 0.86 | 1.37 | 1.74 |
| R&D / Revenue | 6.5% | 6.5% | 6.8% | 7.9% | 7.2% | 6.9% |
| SG&A / Revenue | 34.4% | 34.0% | 34.8% | 35.0% | 37.6% | 37.4% |
| Effective tax rate | 28.1% | 14.3% | 13.8% | 12.1% | 12.6% | 18.2% |
| Return on assets | 6.8% | 7.0% | 7.9% | 6.4% | 5.8% | 4.7% |
| Return on equity | 14.5% | 14.5% | 17.0% | 14.2% | 13.4% | 12.2% |
| Return on invested capital | 9.4% | 9.6% | 11.4% | 8.8% | 8.3% | 6.9% |
| Liquidity | ||||||
| Current ratio | 1.89 | 1.95 | 1.58 | 1.63 | 2.20 | 1.93 |
| Quick ratio | 1.21 | 1.32 | 0.97 | 1.00 | 1.47 | 1.23 |
| Cash ratio | 0.51 | 0.48 | 0.38 | 0.29 | 0.65 | 0.58 |
| Leverage | ||||||
| Debt / Equity | 0.66 | 0.59 | 0.59 | 0.71 | 0.84 | 1.01 |
| Debt / Assets | 0.31 | 0.28 | 0.27 | 0.32 | 0.36 | 0.39 |
| Debt / EBITDA | 2.30 | 2.38 | 2.08 | 2.88 | 3.23 | 4.01 |
| Interest coverage | 8.4x | 9.3x | 10.9x | 8.4x | 7.7x | 7.1x |
| Equity multiplier | 2.13 | 2.08 | 2.15 | 2.22 | 2.33 | 2.62 |
| Liabilities / Assets | 0.53 | 0.52 | 0.53 | 0.55 | 0.57 | 0.62 |
| Efficiency | ||||||
| Asset turnover | 0.52 | 0.53 | 0.51 | 0.50 | 0.49 | 0.42 |
| Inventory turnover | 1.70 | 1.71 | 1.54 | 1.72 | 1.85 | 1.52 |
| Days sales outstanding | 59d | 64d | 67d | 71d | 64d | 69d |
| Days inventory outstanding | 214d | 214d | 238d | 212d | 197d | 241d |
| Days payable outstanding | 73d | 75d | 74d | 75d | 67d | 56d |
| Cash conversion cycle | 200d | 203d | 230d | 208d | 194d | 254d |
| Valuation | ||||||
| P / E | 41.8x | 46.4x | 36.3x | 39.6x | 51.3x | 58.3x |
| P / B | 6.1x | 6.7x | 6.2x | 5.6x | 6.9x | 7.1x |
| P / S | 5.4x | 6.1x | 5.6x | 5.1x | 6.0x | 6.5x |
| EV / EBITDA | 22.7x | 28.8x | 23.5x | 25.1x | 29.0x | 31.4x |
| Growth | ||||||
| Revenue growth (YoY) | 11.2% | 10.2% | 11.1% | 7.8% | 19.2% | -3.6% |
| Revenue CAGR (3y) | 10.8% | 9.7% | 12.6% | 7.4% | 14.7% | 4.9% |
| Revenue CAGR (5y) | 11.8% | 8.7% | 12.6% | 8.2% | 8.6% | 7.6% |
| Gross profit growth (YoY) | 11.3% | 10.6% | 12.8% | 5.6% | 21.1% | -6.6% |
| Operating income growth (YoY) | 32.5% | -5.1% | 36.9% | 9.9% | 16.2% | -18.1% |
| Net income growth (YoY) | 8.5% | -5.4% | 34.2% | 18.3% | 24.7% | -23.2% |
| EPS growth (YoY) | 8.2% | -5.9% | 33.7% | 18.4% | 24.0% | -23.4% |
| EPS CAGR (3y) | 10.8% | 14.2% | 25.2% | 4.0% | -17.7% | 16.2% |
| EPS CAGR (5y) | 14.9% | 7.2% | -2.5% | 18.1% | 3.7% | 2.1% |
| FCF growth (YoY) | 22.8% | 11.2% | 54.0% | -25.6% | -1.9% | 80.9% |
| FCF CAGR (5y) | 9.0% | 17.7% | 9.0% | 16.2% | 15.7% | 34.7% |
| Book value growth (YoY) | 8.7% | 11.0% | 11.9% | 11.7% | 13.7% | 2.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$34.59B totalMed Surg And Neurotechnology$15.65B · 45.2%
Orthopaedics And Spine$9.47B · 27.4%
Orthopaedics$9.47B · 27.4%
Product / service
$25.12B totalMedical$4.20B · 16.7%
Traumaand Extremities$3.95B · 15.7%
Endoscopy$3.81B · 15.2%
Instruments$3.18B · 12.7%
Knees$2.66B · 10.6%
Neuro Cranial$2.48B · 9.9%
Neurovascular$1.97B · 7.8%
Hips$1.86B · 7.4%
Other Orthopaedics$815.00M · 3.2%
Spine$185.00M · 0.7%
Geographic
$21.76B totalUS$12.30B · 56.6%
Non Us$3.34B · 15.4%
EMEA$3.18B · 14.6%
Asia Pacific$2.16B · 9.9%
Other Foreign Countries$765.00M · 3.5%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.68
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing STRYKER CORP against the 5 most active filers in the same SIC group.
Dividends
$3.44/share trailing 12 months · +4.9% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.8800 |
| Dec 31, 2025 | $0.8800 |
| Sep 30, 2025 | $0.8400 |
| Jun 30, 2025 | $0.8400 |
| Mar 31, 2025 | $0.8400 |
| Dec 31, 2024 | $0.8400 |
| Sep 30, 2024 | $0.8000 |
| Jun 28, 2024 | $0.8000 |
| Mar 27, 2024 | $0.8000 |
| Dec 28, 2023 | $0.8000 |
| Sep 28, 2023 | $0.7500 |
| Jun 29, 2023 | $0.7500 |
| Mar 30, 2023 | $0.7500 |
| Dec 29, 2022 | $0.7500 |
| Sep 29, 2022 | $0.6950 |
| Jun 29, 2022 | $0.6950 |
| Mar 30, 2022 | $0.6950 |
| Dec 30, 2021 | $0.6950 |
| Sep 29, 2021 | $0.6300 |
| Jun 29, 2021 | $0.6300 |
| Mar 30, 2021 | $0.6300 |
| Dec 30, 2020 | $0.6300 |
| Sep 29, 2020 | $0.5750 |
| Jun 29, 2020 | $0.5750 |