— Know what they know.
/
Not Investment Advice

SYK

NYSE · USD
Stryker Corporation
Healthcare · Medical - Devices
CEO Kevin A. Lobo Employees 56,000 R&D / revenue 6.3%
Last price
$294.66+0.49%last session
Market cap
$113.0B
P/E (TTM)
30.3x
From 52w high
−24.9%
From 52w low
+10.4%
1-year return
−20.2%
RSI 14 · vs SMA200
58.9 · −9.8%
IS score
73.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

SYK   SPY   XLV (sector ETF) · weekly closes
708090100110120Jan 26Apr 26Jul 26Oct 26XLV 124SPY 116SYK 80

Score DNA

Each bar is a 0-100 score within the scored universe
72
Profitability
64
Growth
52
Value
90
Momentum
100
Risk (safety)
87
Quality
63
Balance sheet
78
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
None of the computed warning flags fires for SYK (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 9 / 9Altman Z 4.8Beta 0.773 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
36 open-market sales, $218.9M
Form 144 notices (12m): 8, $401.5M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−37
173 new holders, 178 closed
2,277 filers hold 80.8% · 936 added, 864 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+348
1,328 funds adding shares
980 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
63.6%
20-day avg 51.8%, 50-day avg 50.7%
Latest 11.8 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$25.1B
Revenue growth YoY+11.2%
Gross margin64.0%
Operating income$4.9B
Operating margin19.5%
Net income$3.2B
Net margin12.9%
EPS (diluted)$8.40
Cash flow
Operating cash flow$5.0B
Capital expenditure$761.0M
Free cash flow$4.3B
FCF conversion (FCF / OCF)84.9%
Stock-based compensation$243.0M
FCF less SBC$4.0B
Buybacks$0
Dividends$1.3B
Balance sheet & returns
Cash & short-term investments$4.1B
Total debt$14.9B
Net debt$10.8B
Shareholders' equity$22.4B
Goodwill & intangibles$25.0B
Debt / equity0.62
ROE (TTM)16.4%
ROIC (TTM)9.8%
Operating margin by fiscal year
21.3%FY202120.2%FY202221.2%FY202322.3%FY202422.4%FY2025
Revenue $17.1B (FY2021) to $25.1B (FY2025), a 10.1% CAGR.

Valuation

P/E (TTM)30.3x
EV / EBITDA18.6x
Price / sales4.37x
Price / FCF24.0x
FCF yield4.16%
Buyback yield0.00%
SBC / revenue1.0%
Price / book4.71x
Forward P/E FY202619.7x
Forward P/E FY202717.7x
Forward P/E FY202815.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $357.83 across 12 analysts last quarter is theirs, not ours.

SYK vs industry median

318 companies in Medical - Devices
Gross margin 65.2% 57.3% Operating margin 22.0% -22.8% Net margin 14.4% -23.0% ROIC 9.8% -5.0%
SYK (TTM)Industry median Asset turnover 0.54 vs industry 0.55 · financial leverage 2.00

Earnings delivery

Next report 2026-10-29 · consensus EPS $3.55
92%
beat rate, 11 of 12 quarters
+2.8%
median EPS surprise
10
longest beat streak
+1+6+6+1+4+4+5+2+2+2-13+6
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
SYK Stryker Corporation $113.0B30.3x16.4%14.4%+11.2% −20.2%
MDT Medtronic Plc $121.2B23.2x10.7%15.1%+9.8% +3.0%
ABT Abbott Laboratories $181.5B33.7x10.7%7.4%+8.1% −17.8%
BSX Boston Scientific Corporatio $64.3B17.9x15.5%16.7%+13.5% −54.6%
EW Edwards Lifesciences Corpora $49.9B49.8x9.5%13.9%+14.6% +19.2%
DXCM DexCom, Inc. $32.5B33.2x38.5%19.0%+15.5% —
ZBH Zimmer Biomet Holdings, Inc. $18.1B23.0x6.4%9.1%+8.6% —
PEN Penumbra, Inc. $12.6B78.4x11.4%8.9%+17.6% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-06Officer/Director Change; Regulation FD; Exhibits
2026-07-30Earnings Release; Exhibits
2026-06-26Other Events; Exhibits
2026-05-20Officer/Director Change; Exhibits
2026-05-08Shareholder Vote
2026-04-30Earnings Release; Exhibits

Context

Shares outstanding383,573,000
Free float90.8%
Institutional ownership80.8%
Beta0.77
Dividend yield1.19%
Last dividend$0.88 on 2026-09-30
50 / 200-day average$300.80 / $326.94
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where SYK sits among 61 scored companies in Medical - Devices (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureSYKIndustry medianIndustry percentileSector median
P/E (TTM) 30.3x 25.7x
56th		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 2.75 1.33
80th		 1.28
Price / sales 4.4x 3.3x
72nd		 3.7x
Price / book 4.7x 3.5x
62nd		 3.6x
Price / tangible book —
Price / free cash flow 24.0x 26.8x
44th		 21.2x
Price / operating cash flow 20.5x 19.5x
53rd		 17.1x
Enterprise value $124.5B $2.0B
97th		 $2.5B
EV / sales 4.8x 3.5x
73rd		 3.8x
EV / EBITDA 18.6x 18.6x
50th		 16.2x
EV / EBIT 22.9x 24.7x
45th		 23.0x
EV / free cash flow 26.5x 27.6x
47th		 24.6x
Earnings yield 3.3% -0.7%
75th		 -0.3%
FCF yield 4.2% 1.9%
73rd		 1.7%
Operating cash flow yield 4.9% 3.4%
62nd		 2.9%
Graham number (per share) $116.22 $42.90
93rd		 $26.70

Profitability (TTM)

MeasureSYKIndustry medianIndustry percentileSector median
Gross margin 65.2% 63.7%
52nd		 65.1%
EBITDA margin 25.9% 9.3%
87th		 6.6%
Operating margin 22.0% 4.0%
93rd		 3.5%
EBIT margin 21.1% 1.4%
88th		 2.4%
Net margin 14.4% -1.7%
87th		 0.3%
NOPAT margin 16.0% 0.1%
85th		 2.7%
FCF margin 18.2% 3.0%
83rd		 4.3%
Operating cash flow margin 21.4% 8.5%
85th		 7.1%
R&D / revenue 6.4% 10.1%
31st		 12.4%
SG&A / revenue 34.0% 46.6%
27th		 37.9%
Stock comp / revenue 1.0% 3.5%
15th		 4.5%
Effective tax rate 27.6% 21.0%
88th		 21.0%

Returns on capital

MeasureSYKIndustry medianIndustry percentileSector median
ROE (on average equity) 16.5% -1.7%
86th		 0.8%
ROA 7.9% -1.1%
80th		 -0.3%
ROIC 11.6% 1.1%
73rd		 5.5%
ROCE 13.2% 1.6%
87th		 2.3%
Return on tangible assets 11.6% 1.0%
87th		 1.7%
Cash ROIC (OCF / invested capital) 15.6% 7.0%
69th		 9.7%
Gross profitability (GP / assets) 35.1% 36.4%
47th		 29.9%
ROIC, 3-yr average 8.7% -1.0%
73rd		 2.6%
ROIC, 5-yr average 10.0% -0.4%
71st		 3.2%
ROE, 5-yr average 15.1% -4.8%
81st		 -4.9%
Incremental ROIC 328.7% 19.9%
92nd		 17.2%

Growth

MeasureSYKIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.5% 11.5%
39th		 10.5%
Revenue growth (QoQ) 9.5% 7.8%
58th		 7.2%
Revenue CAGR, 3 yr 9.9% 11.6%
43rd		 10.7%
Revenue CAGR, 5 yr 9.7% 12.8%
38th		 12.1%
Gross profit CAGR, 3 yr 13.1% 12.8%
56th		 10.6%
Operating income CAGR, 3 yr 12.8% 12.0%
52nd		 11.7%
Net income growth (TTM YoY) 27.8% 8.7%
62nd		 17.5%
Net income CAGR, 3 yr 11.2% 13.1%
45th		 11.3%
EPS growth (TTM YoY) 27.9% 7.8%
62nd		 19.2%
EPS CAGR, 3 yr 11.0% 14.5%
35th		 14.0%
EPS CAGR, 5 yr 12.1% 9.1%
65th		 8.1%
FCF growth (TTM YoY) 16.8% 16.8%
50th		 18.6%
FCF CAGR, 3 yr 24.8% 32.2%
42nd		 15.4%
Operating cash flow CAGR, 3 yr 22.2% 18.3%
58th		 11.9%
Book value CAGR, 3 yr 11.2% 5.2%
63rd		 2.1%
Dividend CAGR, 3 yr 1.5% 2.5%
12th		 2.2%
Sustainable growth rate 10.7% 10.9%
48th		 12.2%

Margin history & stability

MeasureSYKIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 62.9% 64.5%
45th		 62.6%
Operating margin, 3-yr average 22.0% 4.3%
94th		 1.0%
Net margin, 3-yr average 14.3% -5.8%
87th		 -2.6%
FCF margin, 3-yr average 16.1% 2.8%
89th		 3.2%
Revenue stability (0-1) 0.99 0.90
92nd		 0.80
Earnings stability (0-1) 0.81 0.30
85th		 0.37
Margin stability (0-1) 0.97 0.96
68th		 0.93

Liquidity (latest quarter)

MeasureSYKIndustry medianIndustry percentileSector median
Cash & short-term investments $3.5B $184.9M
95th		 $330.9M
Net cash (− = net debt) −$11.5B −$37.3M
5th		 $8.4M
Working capital $7.7B $318.0M
98th		 $381.1M
Current ratio 2.16 3.35
33rd		 3.02
Quick ratio 1.33 2.33
27th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.52 0.87
30th		 1.43
Defensive interval (days) 236 days 324 days
27th		 415 days

Leverage & solvency (latest quarter)

MeasureSYKIndustry medianIndustry percentileSector median
Total debt $14.9B $263.7M
97th		 $289.1M
Debt / equity 0.62 0.54
56th		 0.45
Net debt / equity 0.48 0.28
60th		 −0.13
Debt / assets 31.2% 27.9%
58th		 24.4%
Debt / capital 38.4% 35.1%
56th		 31.1%
Debt / EBITDA 2.23 2.56
45th		 2.62
Net debt / EBITDA 1.71 2.08
45th		 1.42
Interest coverage (EBIT / interest) 6.6x 0.4x
77th		 2.1x
Cash interest coverage 6.7x 3.2x
71st		 3.6x
Debt payback (years of OCF) 2.7 yrs 3.4 yrs
40th		 2.7 yrs
Liabilities / assets 50.0% 49.8%
53rd		 49.8%
IS credit model rating AA- — —
Implied credit spread (bps) 100 225
22nd		 225

Efficiency

MeasureSYKIndustry medianIndustry percentileSector median
Asset turnover 0.55 0.60
37th		 0.56
Fixed asset turnover 5.77 4.84
64th		 4.87
Inventory turnover 1.7 1.8
41st		 2.7
Receivables turnover 6.7 6.4
62nd		 6.4
Days sales outstanding 54 days 57 days
38th		 57 days
Days inventory outstanding 219 days 207 days
59th		 136 days
Days payables outstanding 63 days 59 days
57th		 59 days
Cash conversion cycle (days) 210 days 214 days
48th		 70 days
Capex / revenue 3.2% 3.6%
45th		 2.6%
Capex / depreciation 0.66 0.67
48th		 0.55
Operating expense ratio 43.1% 57.4%
19th		 56.5%

Cash flow & earnings quality

MeasureSYKIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.48 1.65
41st		 1.61
FCF / net income 1.26 1.30
48th		 1.36
FCF / operating cash flow 85.1% 63.6%
76th		 81.2%
Capex / operating cash flow 14.9% 36.4%
24th		 18.8%
Accruals ratio -3.8% -5.2%
68th		 -5.4%
Sloan accruals ratio 1.6% -1.3%
68th		 -1.3%
Earnings quality score (0-1) 1.00 1.00
48th		 0.75

Dividends & buybacks

MeasureSYKIndustry medianIndustry percentileSector median
Dividend yield 1.2% 0.0%
93rd		 0.0%
Dividend per share (TTM) $3.52 $0.00
100th		 $0.00
Payout ratio (dividends / net income) 35.3% 0.0%
85th		 0.0%
Dividends / FCF 28.0% 0.0%
83rd		 0.0%
Dividend growth (YoY) 5.4% 4.0%
56th		 4.5%
Buyback yield 0.1% 0.0%
65th		 0.0%
Shareholder yield (dividends + buybacks) 1.3% 0.0%
70th		 0.0%
Share count change (YoY) -0.1% 1.4%
36th		 2.0%
Buybacks, last 5 years $822.0M $0
78th		 $0

Scores & forensic checks

MeasureSYKIndustry medianIndustry percentileSector median
IS score 74 41
93rd		 46
IS profitability 72 20
95th		 22
IS growth 64 60
59th		 60
IS value 52 39
77th		 39
IS momentum 90 67
86th		 67
IS risk (safety) 100 65
62nd		 80
IS quality 87 49
95th		 49
IS balance sheet 63 50
67th		 55
IS earnings quality 78 56
93rd		 56
IS cash flow 70 32
77th		 41
Piotroski F-score (0-9) 9 6
95th		 5
Altman Z-score 4.8 3.0
63rd		 3.2
Beneish M-score −2.74 −2.67
30th		 −2.62
Ohlson O-score −9.18 −7.26
22nd		 −7.16
IS credit score 81 62
78th		 62

Per share

MeasureSYKIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $9.66 −$0.07
100th		 −$0.03
Book value per share $62.15 $10.13
95th		 $7.10
Tangible book per share −$3.49 $2.24
13th		 $1.91
Revenue per share $66.94 $12.68
95th		 $9.38
FCF per share $12.18 $0.62
97th		 $0.46
Operating cash flow per share $14.31 $1.25
97th		 $0.93
Cash per share $9.01 $2.47
87th		 $3.51

Size (TTM)

MeasureSYKIndustry medianIndustry percentileSector median
Market cap $113.0B $1.6B
97th		 $2.4B
Revenue $25.8B $815.1M
97th		 $770.2M
EBITDA $6.7B $83.1M
97th		 $56.1M
Net income $3.7B −$7.2M
97th		 −$3.3M
Free cash flow $4.7B $38.8M
97th		 $41.2M
Total assets $47.9B $1.1B
97th		 $1.3B
Shareholders' equity $24.0B $496.6M
95th		 $568.4M
Employees 56,000 1,800
95th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-24Wells Preston Wendell
VP, Chief Financial Officer
 Other 109——3,661
2026-09-22Wells Preston Wendell
VP, Chief Financial Officer
 Other 962——3,770
2026-09-01Baculik Emily Kay
VP, Corporate Controller
 — 805$248.60$200,1230
2026-09-01Baculik Emily Kay
VP, Corporate Controller
 — 1,490$268.22$399,6480
2026-09-01Baculik Emily Kay
VP, Corporate Controller
 — 1,265$339.77$429,8090
2026-09-01Baculik Emily Kay
VP, Corporate Controller
 — 918$392.39$360,2140
2026-09-01Baculik Emily Kay
VP, Corporate Controller
 — 1,060$360.82$382,4690
2026-08-21Crotty Dylan Bram
Group President
 Open-market sale 441$328.61$144,9156,102
2026-08-19Stryker Ronda E
Director
 Open-market sale 40$331.81$13,2722,301,335
2026-08-19Stryker Ronda E
Director
 Open-market sale 440$333.18$146,5982,300,895
2026-08-19Stryker Ronda E
Director
 Open-market sale 200$333.93$66,7862,300,695
2026-08-19Stryker Ronda E
Director
 Open-market sale 80$335.06$26,8042,300,615

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired118,551—
GiftDisposed11,607—
Open-market saleDisposed36674,531$218.9M
Option exerciseAcquired221,582$3.6M
Option exerciseDisposed221,582$3.6M
OtherDisposed32,848—
Tax withholdingDisposed517,255$5.1M
—Disposed75,538$1.8M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 8 notices · 1,188,036 shares · $401.5M
FiledFilerShares proposedEst. proceeds
2026-08-18Debra King826$277,786
2026-08-17Stryker Ronda E350,000$117.2M
2026-05-28Fletcher Robert S4,544$1.4M
2026-05-27Stryker Ronda E310,000$97.0M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 21 trades (5 purchases) · Senate 1 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHouseSale$15,001 - $50,0002026-10-09
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-07-22Thomas H. KeanHouseSale$1,001 - $15,0002026-08-19
2026-03-27Alan ArmstrongSenateSale$15,001 - $50,0002026-07-21
2022-11-30Dan SullivanSenateSale$1,001 - $15,0002023-07-26
2022-11-30Dan SullivanSenateSale (Full)$1,001 - $15,0002023-07-25
2022-11-30Daniel Scott SullivanSenateSale (Full)$1,001 - $15,0002023-07-25
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.27,414,742$8.6B7.15%
VANGUARD CAPITAL MANAGEMENT LLC22,536,843$7.1B5.88%
STATE STREET CORP15,532,565$4.9B4.05%
JPMORGAN CHASE & CO14,102,195$4.7B3.68%
PRICE T ROWE ASSOCIATES INC /MD/11,916,057$3.8B3.11%
VANGUARD PORTFOLIO MANAGEMENT LLC8,173,167$2.6B2.13%
WELLINGTON MANAGEMENT GROUP LLP8,167,185$2.6B2.13%
GEODE CAPITAL MANAGEMENT, LLC7,819,802$2.5B2.04%
NORGES BANK4,892,615$1.5B1.28%
BANK OF AMERICA CORP /DE/4,460,311$1.4B1.16%
Bank of New York Mellon Corp3,540,543$1.1B0.92%
ROYAL BANK OF CANADA3,393,769$1.1B0.88%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP3,282,207$1.0B0.86%
AMERIPRISE FINANCIAL INC3,272,554$1.0B0.85%
Fundsmith LLP2,913,833$917.4M0.76%

Institutional ownership by quarter

2023-092026-0680.8%
% of shares held by 13F filers
2023-092026-062,277
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,27780.8%173936864178
2026-03-312,31478.0%168944886145
2025-12-312,33279.3%250849895139
2025-09-302,27577.6%163891810105
2025-06-302,26379.8%166915804106
2025-03-312,23679.2%16495174495
2024-12-312,20178.0%28884271987
2024-09-302,04078.1%15379972579
2024-06-301,99376.9%139830680118
2024-03-312,00076.8%21473871976
2023-12-311,89076.6%23368165995
2023-09-301,78076.6%123691626103

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management6.7%25,802,180
2026-04-14SCHEDULE 13D/ASTRYKER RONDA E4.0%15,223,331
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-11SCHEDULE 13G/AGREENLEAF TRUST4.4%16,801,654
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.13%$3.0B
VTSAX0.13%$3.0B
VTI0.13%$3.0B
VSMPX0.13%$3.0B
VFIAX0.15%$2.5B
VOO0.15%$2.5B

Share structure

Shares outstanding383,573,000
Float348,134,732
Free float90.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$17.1B$18.4B$20.5B$22.6B$25.1B
Cost of revenue$6.4B$7.4B$8.0B$8.6B$9.1B
Gross profit$10.7B$11.0B$12.5B$14.0B$16.1B
R&D$1.1B$1.2B$1.3B$1.4B$1.6B
SG&A$5.8B$6.1B$6.9B$7.5B$8.7B
Operating income$3.8B$3.7B$4.3B$5.1B$4.9B
EBITDA$3.6B$4.0B$5.1B$4.9B$6.3B
Pretax income$2.3B$2.7B$3.7B$3.5B$4.5B
Income tax$287.0M$325.0M$508.0M$499.0M$1.3B
Net income$2.0B$2.4B$3.2B$3.0B$3.2B
EPS, diluted$5.22$6.17$8.25$7.76$8.40
Diluted shares382.3M382.2M383.7M385.6M382.2M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$3.0B$1.9B$3.1B$4.5B$4.1B
Receivables$3.0B$3.6B$3.8B$4.0B$4.0B
Inventory$3.3B$4.0B$4.8B$4.8B$5.3B
Total current assets$10.0B$10.3B$12.5B$14.8B$14.8B
PP&E, net$3.3B$3.4B$3.7B$4.0B$3.9B
Goodwill & intangibles$17.8B$19.8B$19.8B$20.2B$25.0B
Total assets$34.6B$36.9B$39.9B$43.0B$47.8B
Accounts payable$1.1B$1.4B$1.5B$1.7B$0
Total current liabilities$4.5B$6.3B$7.9B$7.6B$7.8B
Long-term debt$12.5B$11.9B$10.9B$12.2B$14.9B
Total liabilities$19.8B$20.3B$21.3B$22.3B$25.4B
Shareholders' equity$14.9B$16.6B$18.6B$20.6B$22.4B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.0B$2.4B$3.2B$3.0B$3.2B
Depreciation & amortization$990.0M$998.0M$1.0B$1.1B$1.2B
Stock-based compensation$171.0M$168.0M$205.0M$229.0M$243.0M
Change in working capital$279.0M−$732.0M−$500.0M−$683.0M−$373.0M
Operating cash flow$3.3B$2.6B$3.7B$4.2B$5.0B
Capital expenditure−$525.0M−$588.0M−$575.0M−$755.0M−$761.0M
Free cash flow$2.7B$2.0B$3.1B$3.5B$4.3B
Investing cash flow−$859.0M−$2.9B−$962.0M−$3.0B−$4.9B
Net debt issued / repaid−$1.2B$472.0M−$277.0M$940.0M$1.6B
Buybacks−$114.0M−$122.0M−$155.0M−$195.0M$0
Dividends paid−$950.0M−$1.1B−$1.1B−$1.2B−$1.3B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin62.2%59.6%60.9%61.5%63.5%
Operating margin21.3%20.2%21.2%22.3%22.4%
Net margin11.7%12.8%15.4%13.2%12.9%
FCF margin16.0%11.0%15.3%15.4%17.1%
ROE14.3%15.0%18.0%15.3%15.1%
ROIC12.9%11.6%12.9%14.3%12.2%
ROA5.8%6.6%8.2%7.2%7.1%
Debt / equity0.870.810.730.680.66
Interest coverage————6.7x
Current ratio2.201.631.581.951.89
Revenue growth+19.2%+7.8%+11.1%+10.2%+11.2%
EPS growth+24.2%+18.4%+33.7%−6.0%+8.3%
P/E at year end49.3x38.6x35.7x46.1x41.8x
EV / EBITDA at year end30.0x27.9x26.3x32.5x24.8x
FCF yield at year end2.78%2.24%2.77%2.53%3.15%
Dividend payout47.6%44.6%36.0%40.7%39.6%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
MedSurg$9.5B$10.6B$11.8B$13.5B$15.6B
Orthopaedics———$9.1B$9.5B
Orthopaedics and Spine$7.6B$7.8B$8.7B——

Revenue by region · FY2025

EMEA$3.2B · 52%
Asia Pacific$2.2B · 35%
Other foreign countries$765.0M · 13%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $3.55 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$27.2B$26.9B – $27.4B$14.96$14.90 – $15.061619.7x
2027$29.5B$28.7B – $29.9B$16.68$16.12 – $17.151617.7x
2028$31.9B$31.2B – $32.5B$18.59$17.41 – $19.39815.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$3.49$3.69+5.7%$6.6B$6.6B+0.1%
2026-04-30$2.98$2.60−12.8%$6.3B$6.0B−5.0%
2026-01-29$4.40$4.47+1.6%$7.1B$7.2B+0.7%
2025-10-30$3.13$3.19+1.9%$6.0B$6.1B+0.2%
2025-07-31$3.07$3.13+2.0%$5.9B$6.0B+1.4%
2025-05-01$2.71$2.84+4.8%$5.7B$5.9B+3.1%
2025-01-28$3.87$4.01+3.6%$6.4B$6.4B+1.2%
2024-10-29$2.77$2.87+3.6%$5.4B$5.5B+2.3%
2024-07-30$2.79$2.81+0.7%$5.4B$5.4B+0.3%
2024-04-30$2.35$2.50+6.4%$5.1B$5.2B+2.7%
2024-01-30$3.27$3.46+5.8%$5.6B$5.8B+3.9%
2023-11-02$2.44$2.46+0.8%$4.9B$4.9B+1.0%
2023-08-03$2.38$2.54+6.7%$4.8B$5.0B+3.5%
2023-05-01$2.00$2.14+7.0%$4.6B$4.8B+4.8%
2023-01-31$2.84$3.00+5.6%$5.0B$5.2B+4.8%
2022-10-31$2.23$2.12−4.9%$4.5B$4.5B+0.3%
2022-07-26$2.27$2.25−0.9%$4.5B$4.5B−0.8%
2022-04-28$1.93$1.97+2.1%$4.2B$4.3B+2.2%
2022-01-27$2.72$2.71−0.4%$4.6B$4.7B+1.1%
2021-10-28$2.28$2.20−3.5%$4.3B$4.2B−2.7%
2021-07-27$2.12$2.25+6.1%$4.3B$4.3B+0.2%
2021-04-27$1.98$1.93−2.5%$4.0B$4.0B−0.4%
2021-01-27$2.55$2.81+10.2%$3.8B$4.3B+11.4%
2020-10-29$1.41$2.14+51.8%$2.5B$3.7B+51.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.706-151.206-221.006-291.207-061.407-131.007-201.507-271.308-031.008-101.308-170.908-241.008-31
Week ofNotionalSharesTrades
2026-08-31$1.0B3,216,99985,958
2026-08-24$935.3M2,845,60483,523
2026-08-17$1.3B3,909,70699,716
2026-08-10$1.0B2,986,22181,632
2026-08-03$1.3B3,804,918102,535
2026-07-27$1.5B4,506,865113,945

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1563.6%
DateShort shareShort volumeTotal volume
2026-10-1563.6%871,5461,370,502
2026-10-1450.3%501,769997,038
2026-10-1367.9%665,653980,847
2026-10-1267.8%597,635881,664
2026-10-0960.2%429,011712,318
2026-10-0853.5%585,4571,093,532
2026-10-0759.7%542,708908,768
2026-10-0657.5%751,4731,306,218
2026-10-0560.3%837,0811,387,110
2026-10-0263.4%528,594833,770
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.1Jan+0.3Feb+0.1Mar+1.7Apr+0.8May-0.2Jun-0.0Jul+0.9Aug+0.9Sep+0.8Oct+1.5Nov+1.8Dec
MonthAvg returnUp yearsYears
Jan+4.1%75%20
Feb+0.3%60%20
Mar+0.1%62%21
Apr+1.7%50%20
May+0.8%60%20
Jun−0.2%40%20
Jul−0.0%45%20
Aug+0.9%65%20
Sep+0.9%55%20
Oct+0.8%50%20
Nov+1.5%75%20
Dec+1.8%70%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1458.9
MFI55.7
ADX21.1
Stochastic %K / %D83.2 / 79.8
Williams %R-17.5
CCI253
TSI / signal-6.3 / -19.7
Chaikin money flow-0.04
ATR$8.02
Bollinger width9.5%
Volume vs 20-day avg0.94x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$278.22 (+5.9%)
SMA 50$299.75 (−1.7%)
SMA 200$326.51 (−9.8%)
EMA 21$283.67 (+3.9%)
EMA 50$293.85 (+0.3%)
EMA 200$321.75 (−8.4%)
Bollinger upper$291.39 (+1.1%)
Bollinger lower$265.05 (+11.2%)
Parabolic SAR$272.66 (+8.1%)
Open the live chart, 110+ indicators

About Stryker Corporation

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.

https://www.stryker.com

Key executives

NameTitlePayBorn
Kevin A. LoboChairman & CEO$4.7M1965
Spencer S. StilesPresident & COO$1.7M1976
J. Andrew PierceGroup President of MedSurg & Neurotechnology$1.7M1974
Preston WellsVice President & Chief Financial Officer$1.5M1977
Viju S. MenonGroup President of Global Quality & Operations$1.4M1968
Robert S. FletcherVice President & Chief Legal Officer$895,8951971
Debra S. KingVP and Chief Digital & Information Officer—1972
Robert C. CohenChief Technology Officer and Vice President of Global R&D - Joint Replacement——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Kevin A. Lobo Chair, Chief Executive Officer and President2025$1.5M$9.8M$2.2M$21.4M
Spencer S. Stiles Group President, Orthopaedics2025$792,500$2.7M$760,000$6.3M
J. Andrew Pierce Group President, MedSurg and Neurotechnology2025$792,500$2.7M$754,148$6.3M
Preston W. Wells Vice President, Chief Financial Officer2025$653,431$1.8M$514,558$4.4M
Viju S. Menon Group President, Global Quality and Operations2025$675,000$1.6M$578,000$4.2M
Glenn S. Boehnlein Advisor to the Chief Executive Officer and Former Vice President, Chief Financial Officer2025$800,000$0$800,000$1.9M

Employees

36k201840k201943k202046k202151k202252k202353k202456k2025

Dividends

Ex-dateAmountPaid
2026-09-30$0.882026-10-30
2026-06-30$0.882026-07-31
2026-03-31$0.882026-04-30
2025-12-31$0.882026-01-30
2025-09-30$0.842025-10-31
2025-06-30$0.842025-07-31
2025-03-31$0.842025-04-30
2024-12-31$0.842025-01-31

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage71
Intangibles59
Switching costs58
Network effect55
Efficient scale80
Our component scores (0-100) and overall 63.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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