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Arphra AIPlain-English read on Stryker Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $17.11B | $18.45B | $20.5B | $22.6B | $25.12B | $27.27B | $29.6B | $32B | $34.88B |
| Cost of revenue | $6.4B | $7.41B | $8B | $8.62B | $9.05B | $10.02B | $11.32B | $11.86B | $13.5B |
| Gross profit | $10.71B | $11.04B | $12.49B | $13.98B | $16.07B | $17.47B | $18.29B | $19.46B | $21.41B |
| Gross margin | +62.60% | +59.84% | +60.95% | +61.87% | +63.96% | +64.05% | +61.80% | +60.81% | +61.39% |
| Operating | |||||||||
| Research & development | $1.13B | $1.23B | $1.29B | $1.41B | $1.58B | $1.75B | $1.84B | $2B | $2.26B |
| Selling, general & administrative | $5.81B | $6.08B | $6.92B | $7.51B | $8.65B | $9.26B | $9.83B | $10.59B | $11.98B |
| Total operating expenses | $6.95B | $7.31B | $8.21B | $8.92B | $11.18B | $11.22B | $11.91B | $13.56B | $14.66B |
| Operating income | $3.76B | $3.73B | $4.28B | $5.06B | $4.89B | $5.62B | $6.01B | $6.66B | $7.3B |
| Operating margin | +22.00% | +20.24% | +20.88% | +22.40% | +19.47% | +20.62% | +20.31% | +20.81% | +20.94% |
| EBITDA | $3.61B | $4.02B | $5.06B | $4.94B | $6.31B | $6.36B | $7.07B | $7.64B | $8.17B |
| EBIT | $2.62B | $3.02B | $4.03B | $3.89B | $5.12B | $5.06B | $5.54B | $6.04B | $6.58B |
| Below the line | |||||||||
| Interest expense | $337M | $337M | $356M | $396M | $607M | $525.1M | $568.2M | $646.85M | $672.84M |
| Interest income | $68M | $94M | $75M | $139M | $121M | $131.53M | $141.06M | $158.51M | $170.13M |
| Other income / expense | -$1.48B | -$1.05B | -$608M | -$1.57B | -$375M | — | — | — | — |
| Pre-tax income | $2.28B | $2.68B | $3.67B | $3.49B | $4.51B | $4.8B | $5.17B | $5.63B | $6.08B |
| Income tax expense | $287M | $325M | $508M | $499M | $1.27B | $896.12M | $934.23M | $1.04B | $1.12B |
| Earnings | |||||||||
| Net income | $1.99B | $2.36B | $3.17B | $2.99B | $3.25B | $3.89B | $4.16B | $4.48B | $4.78B |
| Net income · continuing ops | $1.99B | $2.36B | $3.17B | $2.99B | $3.25B | $3.85B | $4.01B | $4.46B | $4.87B |
| Net margin | +11.66% | +12.78% | +15.44% | +13.25% | +12.92% | +14.28% | +14.07% | +13.99% | +13.70% |
| EPS · basic | $5.29 | $6.23 | $8.34 | $7.86 | $8.49 | $15.25 | $16.76 | $18.61 | $21.55 |
| EPS · diluted | $5.22 | $6.17 | $8.25 | $7.76 | $8.40 | $14.98 | $16.74 | $18.67 | $21.03 |
| EPS · low estimate | — | — | — | — | — | $14.86 | $15.47 | $17.36 | $20.66 |
| EPS · high estimate | — | — | — | — | — | $15.08 | $17.22 | $20.36 | $21.34 |
| Shares · basic | 377M | 378.2M | 379.6M | 381M | 382.2M | 386M | 381.04M | 385.06M | 380.8M |
| Shares · diluted | 382.3M | 382.2M | 383.7M | 385.6M | 382.2M | 380.91M | 385.28M | 380.82M | 385.89M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 19 | 20 | 19 | 10 |
| Analysts (EPS) | — | — | — | — | — | 16 | 16 | 7 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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