SYKNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31
STRYKER CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$297.94+3.28 (+1.11%)
Close on Oct 19, 2026
- Market cap
- $115.00B
- P/E (TTM)
- 30.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
64.0%+0.9 pts over 5 years
Operating margin
19.5%+4.0 pts over 5 years
Net margin
12.9%+1.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.2% | +10.8% | +11.8% | +9.7% | |
| Gross profit | +11.3% | +11.5% | +12.1% | +9.3% | |
| Operating income | +32.5% | +19.8% | +17.1% | +10.1% | |
| Net income | +8.5% | +11.2% | +15.2% | +8.5% | |
| EPS, diluted | +8.2% | +10.8% | +14.9% | +8.3% | |
| Free cash flow | +22.8% | +28.1% | +9.0% | +19.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 18.2% | – | – | |
| Return on assets | 9.0% | 5.0% | 7.1% | |
| Current ratio | 2.50 | 1.93 | 1.89 | |
| Debt to equity | 0.72 | – | – | |
| Net debt to EBITDA | 1.23× | 3.35× | 1.83× | |
| Interest coverage | 9.5× | 7.1× | 8.1× | |
| Inventory turnover | 2.1× | 1.6× | 1.8× | |
| Capex to revenue | 4.3% | 3.4% | 3.0% | |
| Diluted shares | 379M | 380M | 387M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Stryker generated $18.88B from operations and spent $8.85B on capital expenditure, dividends and share buybacks. 36% of that went back into the business.
Generated
$18.88B
Used
$8.85B
Capital expenditure$3.20B36%Dividends$5.64B64%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin26.1%
×Asset turnover0.55×
×Equity multiplier2.28×
=Return on equity, FY201832.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2018 | 26.1% | 0.55× | 2.28× | 32.8% |
| FY2017 | 8.2% | 0.58× | 2.18× | 10.5% |
| FY2016 | 14.5% | 0.62× | 2.03× | 18.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$3.25B
- Cash generatingOperating cash flow above zero$5.04B
- Return on assets improvedROA up on the prior year7.5% → 7.6%
- Earnings backed by cashOperating cash flow above net income$5.04B vs $3.25B
- Less leverageLong-term debt to assets fell28.4% → 31.1%
- Better liquidityCurrent ratio rose1.95 → 1.89
- No dilutionShare count did not rise386M → 387M
- Gross margin improvedGross margin up on the prior year63.91% → 63.96%
- More efficientAsset turnover rose0.57 → 0.58