Explain this page
Arphra AIPlain-English read on Stryker Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +62.60% | +59.84% | +60.95% | +61.87% | +63.96% | +64.05% | +61.80% | +60.81% | +61.39% |
| Operating margin | +22.00% | +20.24% | +20.88% | +22.40% | +19.47% | +20.62% | +20.31% | +20.81% | +20.94% |
| EBITDA margin | +21.09% | +21.78% | +24.67% | +21.85% | +25.14% | +23.32% | +23.88% | +23.87% | +23.42% |
| EBIT margin | +15.30% | +16.37% | +19.66% | +17.21% | +20.39% | +18.54% | +18.72% | +18.88% | +18.87% |
| Pre-tax margin | +13.33% | +14.54% | +17.92% | +15.45% | +17.97% | +17.59% | +17.46% | +17.59% | +17.43% |
| Net margin | +11.66% | +12.78% | +15.44% | +13.25% | +12.92% | +14.28% | +14.07% | +13.99% | +13.70% |
| Cost structure | |||||||||
| Cost of revenue / sales | +37.40% | +40.16% | +39.05% | +38.13% | +36.04% | +36.73% | +38.24% | +37.05% | +38.71% |
| R&D intensity | +6.62% | +6.67% | +6.31% | +6.26% | +6.30% | +6.42% | +6.22% | +6.25% | +6.47% |
| SG&A intensity | +33.98% | +32.93% | +33.76% | +33.22% | +34.44% | +33.95% | +33.21% | +33.09% | +34.36% |
| Effective tax rate | +12.58% | +12.11% | +13.83% | +14.29% | +28.09% | +18.68% | +18.08% | +18.39% | +18.38% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +13.40% | +14.19% | +17.02% | +14.51% | +14.48% | +15.44% | +15.49% | +15.71% | +15.30% |
| Return on assets (ROA) | +5.76% | +6.39% | +7.93% | +6.97% | +6.78% | +7.31% | +7.12% | +7.21% | +7.01% |
| Return on capital (ROC) | +13.55% | +12.39% | +13.34% | +14.56% | +13.11% | +13.34% | +13.24% | +13.82% | +13.67% |
| Return on invested capital (ROIC) | +7.18% | +7.82% | +9.86% | +8.61% | +8.71% | +9.24% | +9.18% | +9.30% | +8.94% |
| Asset turnover | +49.40% | +50.02% | +51.36% | +52.58% | +52.50% | +51.21% | +50.63% | +51.52% | +51.21% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +11.66% | +12.78% | +15.44% | +13.25% | +12.92% | +14.28% | +14.07% | +13.99% | +13.70% |
| Asset turnover (× revenue / assets) | +49.40% | +50.02% | +51.36% | +52.58% | +52.50% | +51.21% | +50.63% | +51.52% | +51.21% |
| Equity multiplier (× assets / equity) | +232.78% | +221.98% | +214.66% | +208.25% | +213.40% | +211.23% | +217.48% | +217.88% | +218.16% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.49 | 0.50 | 0.51 | 0.53 | 0.52 | 0.51 | 0.51 | 0.52 | 0.51 |
| Fixed-asset turnover | 5.26 | 5.36 | 5.53 | 5.70 | 6.48 | — | — | — | — |
| Inventory turnover | 1.93 | 1.85 | 1.65 | 1.80 | 1.70 | — | — | — | — |
| Receivables turnover | 5.66 | 5.18 | 5.44 | 5.67 | 6.22 | — | — | — | — |
| Payables turnover | 5.67 | 5.24 | 5.28 | 5.13 | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 64.47 | 70.53 | 67.04 | 64.41 | 58.70 | — | — | — | — |
| Days inventory outstanding (DIO) | 189.03 | 196.81 | 220.85 | 202.26 | 214.14 | — | — | — | — |
| Days payables outstanding (DPO) | 64.40 | 69.61 | 69.18 | 71.14 | — | — | — | — | — |
| Cash conversion cycle | 189.11 | 197.73 | 218.71 | 195.53 | 272.83 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.64 | 1.11 | 1.17 | 1.42 | 1.55 | 1.30 | 1.37 | 1.39 | 1.36 |
| FCF / Net income | 1.37 | 0.86 | 0.99 | 1.17 | 1.32 | 1.10 | 1.10 | 1.14 | 1.18 |
| FCF margin | +16.00% | +11.04% | +15.30% | +15.43% | +17.05% | +15.68% | +15.53% | +15.96% | +16.20% |
| OCF margin | +19.07% | +14.22% | +18.10% | +18.77% | +20.08% | +18.53% | +19.32% | +19.40% | +18.56% |
| CapEx / Revenue | +3.07% | +3.19% | +2.81% | +3.34% | +3.03% | +3.14% | +3.10% | +3.08% | +3.04% |
| CapEx / D&A | 0.53 | 0.59 | 0.56 | 0.72 | 0.64 | — | — | — | — |
| Stock-based comp / Revenue | +1.00% | +0.91% | +1.00% | +1.01% | +0.97% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 5.22 | 6.17 | 8.25 | 7.76 | 8.40 | 14.98 | 16.74 | 18.67 | 21.03 |
| EPS · basic | 5.29 | 6.23 | 8.34 | 7.86 | 8.49 | 15.25 | 16.76 | 18.61 | 21.55 |
| Book value / share | 38.91 | 43.47 | 48.46 | 53.51 | 58.66 | 66.19 | 69.78 | 74.86 | 80.90 |
| Tangible BV / share | -7.54 | -8.24 | -3.24 | 1.00 | -6.68 | 66.19 | 69.78 | 74.86 | 80.90 |
| Sales / share | 44.75 | 48.27 | 53.42 | 58.60 | 65.71 | 71.60 | 76.84 | 84.03 | 90.39 |
| Operating CF / share | 8.54 | 6.87 | 9.67 | 11.00 | 13.20 | 13.27 | 14.85 | 16.30 | 16.78 |
| Free cash flow / share | 7.16 | 5.33 | 8.17 | 9.04 | 11.21 | 11.23 | 11.93 | 13.41 | 14.65 |
| Dividends / share | 2.48 | 2.75 | 2.97 | 3.16 | 3.36 | 3.72 | 4.00 | 4.55 | 4.97 |
| Payout ratio | +47.64% | +44.57% | +35.99% | +40.73% | +39.56% | +36.41% | +37.00% | +38.67% | +40.14% |
| Retention ratio | +52.36% | +55.43% | +64.01% | +59.27% | +60.44% | +63.59% | +63.00% | +61.33% | +59.86% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +7.84% | +11.11% | +10.23% | +11.16% | +8.58% | +8.55% | +8.10% | +8.99% | +9.31% |
| Gross profit · YoY | — | +3.09% | +13.17% | +11.89% | +14.91% | +8.74% | +4.73% | +6.38% | +10.04% | +9.05% |
| Profit | ||||||||||
| Operating income · YoY | — | -0.77% | +14.65% | +18.22% | -3.40% | +15.05% | +6.88% | +10.75% | +9.71% | +8.64% |
| EBITDA · YoY | — | +11.36% | +25.86% | -2.35% | +27.87% | +0.73% | +11.16% | +8.05% | +6.92% | +10.75% |
| Net income · YoY | — | +18.25% | +34.22% | -5.43% | +8.45% | +19.96% | +6.94% | +7.52% | +6.69% | +11.54% |
| Operating | ||||||||||
| EBIT · YoY | — | +15.36% | +33.41% | -3.50% | +31.71% | -1.27% | +9.63% | +9.02% | +8.94% | +12.22% |
| R&D · YoY | — | +8.56% | +5.12% | +9.36% | +11.88% | +10.66% | +5.19% | +8.64% | +12.78% | +8.99% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +18.20% | +33.71% | -5.94% | +8.25% | +78.33% | +11.77% | +11.52% | +12.61% | +19.03% |
| EPS · basic · YoY | — | +17.77% | +33.87% | -5.76% | +8.02% | +79.62% | +9.89% | +11.07% | +15.77% | +19.19% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $12.9B | $13.53B | $13.49B | $14.12B | $14.86B | $16.94B | $18.5B | $19.65B | $22.23B |
| Net debt | $9.96B | $11.68B | $10.52B | $10.47B | $10.85B | $12.74B | $13.99B | $14.62B | $16.75B |
| Net debt / EBITDA | 2.76 | 2.91 | 2.08 | 2.12 | 1.72 | 2.00 | 1.98 | 1.91 | 2.05 |
| Debt / equity | 0.87 | 0.81 | 0.73 | 0.68 | 0.66 | 0.67 | 0.69 | 0.69 | 0.71 |
| Debt / assets | +37.25% | +36.67% | +33.81% | +32.86% | +31.06% | +31.82% | +31.65% | +31.65% | +32.64% |
| Equity / assets | +42.96% | +45.05% | +46.58% | +48.02% | +46.86% | +47.34% | +45.98% | +45.90% | +45.84% |
| Coverage | |||||||||
| EBITDA / interest expense | 10.71 | 11.92 | 14.21 | 12.47 | 10.40 | 12.11 | 12.44 | 11.81 | 12.14 |
| Operating income / interest | 11.17 | 11.08 | 12.03 | 12.78 | 8.05 | 10.71 | 10.58 | 10.29 | 10.86 |
| Interest expense | $337M | $337M | $356M | $396M | $607M | $525.1M | $568.2M | $646.85M | $672.84M |
| Liquidity | |||||||||
| Current ratio | 2.20 | 1.63 | 1.58 | 1.95 | 1.89 | — | — | — | — |
| Quick ratio | 1.33 | 0.87 | 0.86 | 1.11 | 1.04 | — | — | — | — |
| Cash ratio | 0.65 | 0.29 | 0.38 | 0.48 | 0.51 | — | — | — | — |
| Working capital | $5.47B | $3.97B | $4.6B | $7.23B | $6.96B | — | — | — | — |
| Working capital / revenue | +31.96% | +21.53% | +22.43% | +32.00% | +27.72% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).