Stryker (SYK) | Financial Analysis & Statements
Stryker Corporation Large-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
7.2B
Gross Profit
4.6B
64.54%
Operating Income
1.8B
25.25%
Net Income
849.0M
11.84%
EPS (Diluted)
$2.20
Balance Sheet Metrics
Total Assets
47.8B
Total Liabilities
25.4B
Shareholders Equity
22.4B
Debt to Equity
1.13
Cash Flow Metrics
Operating Cash Flow
1.3B
Free Cash Flow
1.9B
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Stryker Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 25.1B | 22.6B | 20.5B | 18.4B | 17.1B |
| Cost of Goods Sold | 9.1B | 8.2B | 7.4B | 6.9B | 6.1B |
| Gross Profit | 16.1B | 14.4B | 13.1B | 11.6B | 11.0B |
| Gross Margin % | 64.0% | 63.9% | 63.7% | 62.8% | 64.1% |
| Operating Expenses | |||||
| Research & Development | 1.6B | 1.5B | 1.4B | 1.5B | 1.2B |
| Selling, General & Administrative | 8.7B | 7.7B | 7.1B | 6.5B | 6.4B |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 10.3B | 9.2B | 8.5B | 7.9B | 7.7B |
| Operating Income | 5.1B | 4.7B | 3.9B | 3.0B | 2.7B |
| Operating Margin % | 20.1% | 20.7% | 19.1% | 16.5% | 15.7% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | 607.0M | - | - | - | - |
| Other Non-Operating Income | 62.0M | -1.2B | -233.0M | -359.0M | -406.0M |
| Pre-tax Income | 4.5B | 3.5B | 3.7B | 2.7B | 2.3B |
| Income Tax | 1.3B | 499.0M | 508.0M | 325.0M | 287.0M |
| Effective Tax Rate % | 28.1% | 14.3% | 13.8% | 12.1% | 12.6% |
| Net Income | 3.2B | 3.0B | 3.2B | 2.4B | 2.0B |
| Net Margin % | 12.9% | 13.2% | 15.4% | 12.8% | 11.7% |
| Key Metrics | |||||
| EBITDA | 6.5B | 6.7B | 5.0B | 4.2B | 3.8B |
| EPS (Basic) | $8.49 | $7.86 | $8.34 | $6.23 | $5.29 |
| EPS (Diluted) | $8.40 | $7.76 | $8.25 | $6.17 | $5.21 |
| Basic Shares Outstanding | 382200000 | 381000000 | 379600000 | 378200000 | 377000000 |
| Diluted Shares Outstanding | 382200000 | 381000000 | 379600000 | 378200000 | 377000000 |
Income Statement Trend
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Stryker Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 4.0B | 3.7B | 3.0B | 1.8B | 2.9B |
| Short-term Investments | 89.0M | 841.0M | 82.0M | 84.0M | 75.0M |
| Accounts Receivable | 4.0B | 4.0B | 3.8B | 3.6B | 3.0B |
| Inventory | 5.3B | 4.8B | 4.8B | 4.0B | 3.3B |
| Other Current Assets | 1.3B | 1.6B | 857.0M | 787.0M | 662.0M |
| Total Current Assets | 14.8B | 14.8B | 12.5B | 10.3B | 10.0B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 1.8B | 1.6B | 1.7B | 1.7B | 1.7B |
| Goodwill | 44.3B | 36.1B | 35.1B | 34.6B | 30.7B |
| Intangible Assets | 5.7B | 4.4B | 4.6B | 4.9B | 4.8B |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 4.2B | 4.4B | 4.3B | 3.9B | 4.0B |
| Total Non-Current Assets | 33.1B | 28.1B | 27.4B | 26.6B | 24.6B |
| Total Assets | 47.8B | 43.0B | 39.9B | 36.9B | 34.6B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 1.8B | 1.7B | 1.5B | 1.4B | 1.1B |
| Short-term Debt | 1.0B | 1.4B | 2.1B | 1.2B | 7.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 7.8B | 7.6B | 7.9B | 6.3B | 4.5B |
| Non-Current Liabilities | |||||
| Long-term Debt | 14.9B | 12.2B | 10.9B | 11.9B | 12.5B |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 2.4B | 2.2B | 1.9B | 1.5B | 1.8B |
| Total Non-Current Liabilities | 17.6B | 14.7B | 13.4B | 14.0B | 15.2B |
| Total Liabilities | 25.4B | 22.3B | 21.3B | 20.3B | 19.8B |
| Equity | |||||
| Common Stock | 38.0M | 38.0M | 38.0M | 38.0M | 38.0M |
| Retained Earnings | 20.5B | 18.5B | 16.8B | 14.8B | 13.5B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 22.4B | 20.6B | 18.6B | 16.6B | 14.9B |
| Key Metrics | |||||
| Total Debt | 15.9B | 13.6B | 13.0B | 13.0B | 12.5B |
| Working Capital | 7.0B | 7.2B | 4.6B | 4.0B | 5.5B |
Balance Sheet Composition
Stryker Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 3.2B | 3.0B | 3.2B | 2.4B | 2.0B |
| Depreciation & Amortization | 1.2B | 1.0B | 1.0B | 998.0M | 990.0M |
| Stock-Based Compensation | 243.0M | 229.0M | 205.0M | 168.0M | 171.0M |
| Working Capital Changes | -546.0M | -641.0M | -1.0B | -1.2B | -284.0M |
| Operating Cash Flow | 4.7B | 3.3B | 3.1B | 2.3B | 2.8B |
| Investing Activities | |||||
| Capital Expenditures | -761.0M | -755.0M | -575.0M | -588.0M | -525.0M |
| Acquisitions | -4.8B | -1.6B | -390.0M | -2.6B | -339.0M |
| Investment Purchases | - | -808.0M | -52.0M | -52.0M | -49.0M |
| Investment Sales | - | 148.0M | 54.0M | 240.0M | 55.0M |
| Investing Cash Flow | -5.6B | -3.0B | -962.0M | -2.9B | -859.0M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | 0 |
| Dividends Paid | -1.3B | -1.2B | -1.1B | -1.1B | -950.0M |
| Debt Issuance | 3.0B | 3.0B | 1.2B | 1.5B | 5.0M |
| Debt Repayment | -1.4B | -2.0B | -2.1B | -653.0M | -1.2B |
| Financing Cash Flow | 113.0M | -525.0M | -1.6B | -749.0M | -2.4B |
| Free Cash Flow | 4.3B | 3.5B | 3.1B | 2.0B | 2.7B |
| Net Change in Cash | -802.0M | -218.0M | 590.0M | -1.4B | -442.0M |
Cash Flow Trend
Stryker Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
39.21
Forward P/E
19.67
Price to Book
5.62
Price to Sales
5.02
PEG Ratio
0.72
Profitability Ratios
Profit Margin
12.92%
Operating Margin
27.24%
Return on Equity
15.08%
Return on Assets
7.92%
Financial Health
Current Ratio
1.89
Debt to Equity
72.97
Beta
0.93
Per Share Data
EPS (TTM)
$8.40
Book Value per Share
$58.61
Revenue per Share
$65.71
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| SYK | 126.3B | 39.21 | 5.62 | 15.08% | 12.92% | 72.97 |
| Abbott Laboratories | 160.7B | 25.97 | 3.09 | 12.36% | 13.90% | 26.79 |
| Medtronic plc | 107.6B | 23.47 | 2.20 | 9.39% | 13.00% | 57.06 |
| Boston Scientific | 97.6B | 27.49 | 4.02 | 11.84% | 17.29% | 48.92 |
| Edwards Lifesciences | 48.5B | 46.49 | 4.73 | 10.38% | 17.39% | 6.82 |
| Dexcom | 23.8B | 30.03 | 8.63 | 34.50% | 17.94% | 50.85 |
Financial data is updated regularly. All figures are in the company's reporting currency.






