Stryker Corporation (SYK) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$3.49	$3.69	+5.7%	—	—	—
Q3 26	$2.98	$2.6	-12.8%	—	—	—
Q2 26	$4.4	$4.47	+1.6%	—	—	—
Q1 26	$3.13	$3.19	+1.9%	—	—	—
Q4 25	$3.07	$3.13	+2.0%	—	—	—
Q3 25	$2.73	$2.84	+4.0%	—	—	—
Q2 25	$3.87	$4.01	+3.6%	—	—	—
Q1 25	$2.77	$2.87	+3.6%	—	—	—
Q4 24	$2.79	$2.81	+0.7%	—	—	—
Q3 24	$2.36	$2.5	+5.9%	—	—	—
Q2 24	$3.27	$3.46	+5.8%	—	—	—
Q1 24	$2.43	$2.46	+1.2%	—	—	—
Q4 23	$2.38	$2.54	+6.7%	—	—	—
Q3 23	$2	$2.14	+7.0%	—	—	—
Q2 23	$2.84	$3	+5.6%	—	—	—
Q1 23	$2.23	$2.12	-4.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$8.49	—	—	$25.1B	—
FY24	—	$7.86	—	—	$22.6B	—
FY23	—	$8.34	—	—	$20.5B	—
FY22	—	$6.23	—	—	$18.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$11.3B	$12.4B	$13.6B	$14.9B	$14.4B	$17.1B	$18.4B	$20.5B	$22.6B	$25.1B
YoY change	+13.9%	+9.88%	+9.3%	+9.43%	-3.58%	+19.2%	+7.84%	+11.1%	+10.2%	+11.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	11.3B	12.4B	13.6B	14.9B	14.4B	17.1B	18.4B	20.5B	22.6B	25.1B
Cost of revenue	3.8B	4.3B	4.7B	5.2B	5.3B	6.1B	6.9B	7.4B	8.2B	9.1B
Gross profit	7.5B	8.2B	8.9B	9.7B	9.1B	11B	11.6B	13.1B	14.4B	16.1B
Gross margin	66.3%	65.7%	65.7%	65.1%	63.1%	64.1%	62.8%	63.7%	63.9%	64%
Research & development	715M	787M	862M	971M	984M	1.2B	1.5B	1.4B	1.5B	1.6B
Selling, general & administrative	4.1B	4.6B	5.1B	5.4B	5.4B	6.4B	6.5B	7.1B	7.7B	8.7B
Operating expenses	4.9B	5.3B	6B	6.3B	6.3B	7.7B	7.9B	8.5B	9.2B	10.3B
Operating income	2.3B	2.5B	2.6B	2.9B	2.2B	2.7B	3B	3.9B	4.7B	5.1B
Operating margin	20.6%	19.8%	18.8%	19.5%	15.6%	15.7%	16.5%	19.1%	20.7%	20.1%
Non-operating income, net	-412M	-407M	-204M	-343M	-286M	-406M	-359M	-233M	-1.2B	62M
Pretax income	1.9B	2.1B	2.4B	2.6B	2B	2.3B	2.7B	3.7B	3.5B	4.5B
Income tax	274M	1B	-1.2B	479M	355M	287M	325M	508M	499M	1.3B
Net income	1.6B	1B	3.6B	2.1B	1.6B	2B	2.4B	3.2B	3B	3.2B
Net margin	14.5%	8.2%	26.1%	14%	11.1%	11.7%	12.8%	15.4%	13.2%	12.9%
EBITDA	3B	3.3B	3.3B	3.9B	3.1B	3.8B	4.2B	5B	6.7B	6.5B
EPS	4.4	2.73	9.5	5.57	4.26	5.29	6.23	8.34	7.86	8.49
Diluted EPS	4.35	2.68	9.34	5.48	4.2	5.21	6.17	8.25	7.76	8.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	6.1B	7.2B	6B	6.6B
Cost of revenue	—	—	—	—	—	—	—	—	2.2B	2.5B	2.2B	2.1B
Gross profit	—	—	—	—	—	—	—	—	3.9B	4.6B	3.8B	4.5B
Gross margin	—	—	—	—	—	—	—	—	63.6%	64.5%	63.3%	68.3%
Research & development	—	—	—	—	—	—	—	—	410M	401M	413M	434M
Selling, general & administrative	—	—	—	—	—	—	—	—	2B	2.2B	2.3B	2.2B
Operating expenses	—	—	—	—	—	—	—	—	2.5B	2.6B	2.7B	2.7B
Operating income	—	—	—	—	—	—	—	—	1.2B	1.8B	936M	1.7B
Operating margin	—	—	—	—	—	—	—	—	19.9%	25.3%	15.5%	25.2%
Non-operating income, net	—	—	—	—	—	—	—	—	-179M	501M	62M	45M
Pretax income	—	—	—	—	—	—	—	—	1B	1.7B	850M	1.6B
Income tax	—	—	—	—	—	—	—	—	170M	856M	105M	288M
Net income	—	—	—	—	—	—	—	—	859M	849M	745M	1.3B
Net margin	—	—	—	—	—	—	—	—	14.2%	11.8%	12.4%	19.4%
EBITDA	1.2B	1.5B	1.2B	1.3B	1.4B	1.8B	1.2B	1.5B	1.6B	2.2B	1.3B	2B
EPS	1.82	3.01	2.07	2.17	2.18	1.43	1.71	2.32	2.25	2.21	1.95	3.32
Diluted EPS	1.8	2.98	2.05	2.14	2.16	1.41	1.69	2.29	2.22	2.2	1.93	3.3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	44.8B	57.9B	58.6B	78.5B	92B	100.8B	92.5B	113.7B	137.2B	134.3B	105.6B
Enterprise value	48.4B	62.3B	64.8B	85.2B	103B	110.3B	103.6B	123.6B	146.3B	146.1B	116.4B
Shares outstanding	374.1M	374M	374.1M	374M	375.5M	377M	378.2M	379.6M	381M	382.2M	382.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	27.2	56.8	16.5	37.7	57.5	50.6	39.2	35.9	45.8	41.4	28.3
P/S	3.96	4.65	4.31	5.28	6.41	5.89	5.01	5.55	6.07	5.35	4.04
P/B	4.69	5.8	5	6.13	7.03	6.78	5.56	6.11	6.65	5.99	4.36
EV/EBITDA	15.9	19	19.6	22	33.6	29.2	24.4	25	21.9	22.5	15.8
EV/Sales	4.27	5.01	4.76	5.72	7.18	6.45	5.61	6.03	6.47	5.82	4.51
Earnings yield	3.67%	1.76%	6.06%	2.65%	1.74%	1.98%	2.55%	2.78%	2.18%	2.42%	3.54%
FCF yield	3.18%	1.66%	3.48%	1.96%	3.03%	2.72%	2.2%	2.76%	2.54%	3.19%	3.89%
PEG	—	—	—	—	—	—	—	—	—	—	0.66

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	66.3%	65.7%	65.7%	65.1%	63.1%	64.1%	62.8%	63.7%	63.9%	64%	68.3%
Operating margin	20.6%	19.8%	18.8%	19.5%	15.6%	15.7%	16.5%	19.1%	20.7%	20.1%	27%
Net margin	14.5%	8.2%	26.1%	14%	11.1%	11.7%	12.8%	15.4%	13.2%	12.9%	14.4%
ROE	17.2%	10.2%	30.3%	16.3%	12.2%	13.4%	14.2%	17%	14.5%	14.5%	16.5%
ROA	8.06%	4.6%	13%	6.9%	4.66%	5.76%	6.39%	7.93%	6.97%	6.78%	8.16%
ROIC	15.3%	8.48%	14.3%	12.1%	7.62%	9.65%	9.64%	11.8%	13.4%	10.6%	11.5%
Return on tangible assets	233%	112.5%	199.9%	58.3%	-68.5%	-225.3%	-89.1%	1.3K%	121.1%	-154.6%	-137%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.5	2.29	2.02	2.51	1.93	2.2	1.63	1.58	1.95	1.89	2.16
Quick ratio	1.85	1.59	1.41	1.84	1.23	1.47	1	0.97	1.32	1.21	1.33
Debt / equity	0.72	0.72	0.84	0.87	1.07	0.84	0.79	0.7	0.66	0.71	0.64
Debt / assets	0.34	0.33	0.36	0.37	0.41	0.36	0.35	0.33	0.32	0.33	0.31
Net debt / EBITDA	1.16	1.35	1.86	1.72	3.57	2.5	2.62	2.01	1.36	1.81	1.62
Interest coverage	—	—	—	—	—	—	—	—	—	8.44	8.44
Effective tax rate	14.3%	50.6%	0%	18.7%	18.2%	12.6%	12.1%	13.8%	14.3%	28.1%	27.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	30.3	33.3	36.4	39.8	38.2	45.4	48.8	54	59.3	65.7	67.5
EPS (basic)	4.4	2.73	9.5	5.57	4.26	5.29	6.23	8.34	7.86	8.49	8.49
EPS (diluted)	4.35	2.68	9.34	5.48	4.2	5.21	6.17	8.25	7.76	8.4	9.64
Book value per share	25.5	26.7	31.4	34.2	34.8	39.5	43.9	49	54.2	58.7	62.5
FCF per share	3.81	2.57	5.45	4.12	7.43	7.26	5.38	8.26	9.15	11.2	12.2
Cash per share	9.05	7.47	9.89	11.8	8.05	8.01	5.1	8.04	11.8	10.7	9.06
Capex per share	1.31	1.6	1.53	1.74	1.3	1.39	1.55	1.51	1.98	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.33%	4.81%	4.21%	4.36%	3.39%	3.07%	3.19%	2.81%	3.34%	—	—
Capex / operating cash flow	27.2%	78.2%	23.2%	29.9%	15.5%	18.9%	26%	18.3%	22.8%	—	—
Payout ratio	34.5%	62.4%	19.8%	37.3%	54%	47.6%	44.6%	36%	40.7%	39.6%	36.1%
Dividend yield	1.27%	1.1%	1.2%	0.99%	0.94%	0.94%	1.14%	1%	0.89%	0.96%	1.28%

Yield

1.28%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.88

ex-dividend Jun 30, 2026

Payout ratio

36%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.88
Mar 31, 2026	$0.88
Dec 31, 2025	$0.88

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	$6.1B	$7.2B	$6B	$6.6B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.4B	2.8B	3.7B	4.4B	3B	3B	1.9B	3.1B	4.5B	4.1B
Receivables	2B	2.2B	2.3B	2.9B	2.7B	3B	3.6B	3.8B	4B	4B
Inventory	2B	2.5B	3B	3B	3.5B	3.3B	4B	4.8B	4.8B	5.3B
Total current assets	7.9B	8B	9.7B	11.1B	9.7B	10B	10.3B	12.5B	14.8B	14.8B
Property, plant & equipment	1.6B	2B	2.3B	2.6B	2.8B	2.8B	3B	3.2B	3.4B	3.9B
Goodwill & intangibles	19.7B	21.3B	25.5B	26.6B	36.7B	35.5B	39.5B	39.7B	40.5B	49.9B
Total assets	20.4B	22.2B	27.2B	30.2B	34.3B	34.6B	36.9B	39.9B	43B	47.8B
Accounts payable	437M	487M	646M	675M	810M	1.1B	1.4B	1.5B	1.7B	1.8B
Short-term debt	228M	632M	1.4B	859M	761M	7M	1.2B	2.1B	1.4B	1B
Total current liabilities	3.1B	3.5B	4.8B	4.4B	5B	4.5B	6.3B	7.9B	7.6B	7.8B
Long-term debt	6.7B	6.6B	8.5B	10.2B	13.2B	12.5B	11.9B	10.9B	12.2B	14.9B
Total liabilities	10.9B	12.2B	15.5B	17.4B	21.2B	19.8B	20.3B	21.3B	22.3B	25.4B
Shareholders' equity	9.6B	10B	11.7B	12.8B	13.1B	14.9B	16.6B	18.6B	20.6B	22.4B
Total debt	6.9B	7.2B	9.9B	11.1B	14B	12.5B	13B	13B	13.6B	15.9B
Net debt	3.6B	4.7B	6.2B	6.8B	11B	9.5B	11.2B	10B	9.9B	11.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.9B	3.1B	2.4B	2B	4.7B	4.5B	2.4B	2.5B	3.3B	4.1B	3B	3.5B
Receivables	3.3B	3.8B	3.5B	3.6B	3.7B	4B	4B	3.9B	3.6B	4B	3.6B	3.7B
Inventory	4.9B	4.8B	5B	5B	5.3B	4.8B	5.1B	5.3B	5.4B	5.3B	5.4B	5.5B
Total current assets	11B	12.5B	11.9B	11.6B	14.7B	14.8B	13B	13B	13.7B	14.8B	13.3B	14.4B
Property, plant & equipment	3.1B	3.2B	3.3B	3.3B	3.4B	3.4B	3.5B	3.7B	3.7B	3.9B	3.9B	4B
Goodwill & intangibles	39.7B	39.7B	39.7B	39.5B	42.7B	40.5B	50.4B	50.3B	50.2B	49.9B	49.4B	50.7B
Total assets	38B	39.9B	39.4B	39.1B	43.8B	43B	46B	46.3B	47.1B	47.8B	46.3B	47.9B
Accounts payable	1.3B	1.5B	1.2B	1.3B	1.3B	1.7B	1.5B	1.4B	1.5B	1.8B	1.6B	1.7B
Short-term debt	2.3B	2.1B	2.1B	2.1B	2.2B	1.4B	2.4B	1.8B	1.8B	1B	499M	750M
Total current liabilities	7.5B	7.9B	7B	6.9B	7.7B	7.6B	7.9B	7.3B	7.4B	7.8B	6.3B	6.7B
Long-term debt	10.4B	10.9B	10.8B	10.1B	13.3B	12.2B	14.4B	14.8B	14.8B	14.9B	14.2B	14.2B
Total liabilities	20.1B	21.3B	20.2B	19.4B	23.7B	22.3B	25.1B	25.1B	25.3B	25.4B	23.3B	23.9B
Shareholders' equity	17.9B	18.6B	19.2B	19.8B	20.1B	20.6B	20.9B	21.2B	21.8B	22.4B	23B	24B
Total debt	12.7B	13B	12.9B	12.2B	15.5B	13.6B	16.8B	16.6B	16.6B	15.9B	14.7B	14.9B
Net debt	10.8B	10B	10.5B	10.3B	11.6B	9.9B	14.5B	14.2B	13.3B	11.8B	11.8B	11.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.6B	1B	3.6B	2.1B	1.6B	2B	2.4B	3.2B	3B	3.2B
Depreciation & amortization	546M	642M	723M	778M	812M	990M	998M	1B	1.1B	1.2B
Stock-based compensation	97M	113M	119M	127M	142M	171M	168M	205M	229M	243M
Change in working capital	-446M	-715M	-299M	-1B	483M	-284M	-1.2B	-1B	-641M	-546M
Operating cash flow	1.8B	765M	2.5B	2.2B	3.1B	2.8B	2.3B	3.1B	3.3B	5B
Capital expenditure	-490M	-598M	-572M	-649M	-487M	-525M	-588M	-575M	-755M	—
Investing cash flow	-4.2B	-1.6B	-2.9B	-1.5B	-4.7B	-859M	-2.9B	-962M	-3B	-4.9B
Dividends paid	-568M	-636M	-703M	-778M	-863M	-950M	-1.1B	-1.1B	-1.2B	-1.3B
Share repurchases	-13M	-230M	-300M	-307M	0	0	—	—	—	—
Financing cash flow	2.3B	-794M	1.3B	3M	-11M	-2.4B	-749M	-1.6B	-525M	113M
Net change in cash	-131M	-1.6B	935M	715M	-1.6B	-442M	-1.4B	590M	-218M	302M
Free cash flow	1.4B	961M	2B	1.5B	2.8B	2.7B	2B	3.1B	3.5B	4.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	692M	1.1B	788M	825M	834M	546M	654M	884M	859M	849M	745M	1.3B
Depreciation & amortization	262M	250M	260M	258M	268M	264M	272M	296M	309M	316M	300M	296M
Stock-based compensation	52M	40M	87M	46M	51M	45M	84M	49M	62M	48M	87M	54M
Change in working capital	-393M	-155M	-336M	-151M	-197M	43M	-388M	-129M	90M	-119M	94M	-471M
Operating cash flow	611M	1.3B	836M	919M	995M	557M	719M	1.1B	1.5B	2.1B	581M	1.3B
Capital expenditure	-148M	-145M	-167M	-152M	-170M	-266M	-123M	—	—	—	—	—
Investing cash flow	-147M	-152M	-408M	-147M	-2.2B	-303M	-4.1B	79M	-134M	-29M	-19M	-437M
Dividends paid	-285M	-285M	-304M	-305M	-305M	-305M	-320M	-321M	-322M	-321M	-337M	-337M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-422M	-286M	-418M	-966M	2.7B	-1.8B	2.5B	-989M	-339M	-1.1B	-1.5B	-345M
Net change in cash	42M	839M	10M	-194M	1.5B	-1.5B	-883M	201M	1.1B	1B	-948M	479M
Free cash flow	902M	1.4B	37M	481M	1.3B	1.7B	127M	928M	1.4B	1.9B	415M	1.1B

Date	Ratio
May 17, 2004	2:1
May 15, 2000	2:1
Jun 11, 1996	2:1
Jun 14, 1991	2:1
Jun 20, 1989	3:2
Jun 12, 1987	2:1
Sep 17, 1985	3:2
Nov 15, 1982	3:2
Nov 12, 1980	3:2

Stryker Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history