One-glance verdict
Within fair range
$312.18 our estimate vs market $291.86
Wall Street consensus: $342.27 (9.6% higher than our fair-value estimate)
7% below our estimate
Fundamentals snapshot
Stryker Corporation
SYK · NYQ · Healthcare · Medical Devices
Current price
$291.86
52-week range
$267.00 - $389.33
Market cap
$111.11B
Balance sheet
Watch
8.33x Adequate
Net debt $10.90B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 4.7% last year.
- Reward Returns 16.0% on equity, ahead of 66% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Net debt grew 5.7% over 3 years.
What this company does
Stryker Corporation
Stryker Corporation makes medical devices and equipment used by doctors and hospitals, mostly for surgeries and patient care, with a big focus on joint replacements and neurotechnology. Their money primarily comes from selling these specialized products to healthcare providers in many countries, which matters because it shows how widespread their solutions are in the medical field. They aim to improve patient outcomes and help surgeons with their innovative tools.
How the company got here
Stryker Corporation was founded in 1941 by Dr. Homer Stryker, a physician who invented the first hospital bed with a removable side. This innovation aimed to improve patient comfort and caregiver ease, setting the stage for Stryker's future in medical technology. Over the decades, the company grew by developing and acquiring a range of medical devices and equipment. A key turning point was its expansion into areas like joint replacements and surgical robotics, which significantly broadened its market reach and technological capabilities. Today, Stryker is a global leader, known for its commitment to improving healthcare outcomes through innovative products.
What it actually does
Stryker Corporation is a medical technology company that designs, manufactures, and markets a wide array of products used by healthcare professionals. Think of them as a company that provides the tools and equipment doctors and hospitals need to perform surgeries, care for patients, and treat various medical conditions. Their offerings range from implants used in joint replacement surgeries to advanced surgical instruments and robotic systems that assist surgeons. They sell these products to hospitals, doctors, and other healthcare facilities worldwide, helping to improve patient care and surgical precision.
Orthopaedics
This segment is a major part of Stryker's business, focusing on implants and instruments for joint replacement surgeries. When someone needs a new hip, knee, shoulder, or other joint due to injury or arthritis, the implants used to replace the damaged joint often come from this division. They also offer robotic systems, like the Mako robot, which helps surgeons plan and execute joint replacement procedures with greater precision. This part of Stryker is crucial for helping people regain mobility and reduce pain after orthopedic issues.
MedSurg and Neurotechnology
This segment is quite diverse, covering a broad range of medical products beyond orthopedics. It includes surgical equipment, technologies designed for patient and caregiver safety, and advanced navigation systems used in operating rooms. Additionally, it encompasses products for neurotechnology, which are used to treat conditions like stroke, as well as tools for open skull surgeries and biosurgery products that aid in healing. This division also provides equipment for emergency medical situations and intensive care units, showcasing Stryker's wide reach in hospital settings.
What management is betting on now
Stryker's leadership is focused on continuing to innovate and expand its offerings in key growth areas. A significant strategic priority is the advancement of its surgical robotics, aiming to make these sophisticated tools more accessible and widely adopted. They are also investing in technologies that improve patient outcomes and operational efficiency within hospitals, such as advanced visualization and communication systems. Furthermore, Stryker is committed to expanding its global presence and strengthening its portfolio through strategic acquisitions, all to maintain its position as a leader in medical technology.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$1.67B
FY2025 Q1
$127.00M
FY2025 Q2
$928.00M
FY2025 Q3
$1.35B
FY2025 Q4
$1.88B
FY2026 Q1
$415.00M
FY2026 Q2
$1.06B
FY2026 Q3
$1.22B
Revenue
$6.52B
Net income
$753.00M
Diluted EPS
1.96
Operating cash flow
$1.46B
Free cash flow
$1.22B
Fetching…
Sources
Revenue
$6.59B
Net income
$1.28B
Diluted EPS
3.30
Operating cash flow
$1.26B
Free cash flow
$1.06B
Fetching…
Sources
Revenue
$6.02B
Net income
$745.00M
Diluted EPS
1.93
Operating cash flow
$581.00M
Free cash flow
$415.00M
Fetching…
Sources
Revenue
$7.17B
Net income
$849.00M
Diluted EPS
2.20
Operating cash flow
$2.14B
Free cash flow
$1.88B
Fetching…
Sources
Revenue
$6.06B
Net income
$859.00M
Diluted EPS
2.22
Operating cash flow
$1.54B
Free cash flow
$1.35B
Fetching…
Sources
Revenue
$6.02B
Net income
$884.00M
Diluted EPS
2.29
Operating cash flow
$1.11B
Free cash flow
$928.00M
Fetching…
Sources
Revenue
$5.87B
Net income
$654.00M
Diluted EPS
1.69
Operating cash flow
$250.00M
Free cash flow
$127.00M
Fetching…
Sources
Revenue
$6.44B
Net income
$546.00M
Diluted EPS
1.41
Operating cash flow
$1.93B
Free cash flow
$1.67B
Fetching…
Sources
Is it cheap or expensive?
Fair value $312.18 vs current price $291.86
Wall Street consensus is the average analyst price target: $342.27 (9.6% higher than our fair-value estimate).
Our most-likely fair value is $312.18 a share — about 7.0% away from today's price of $291.86, so the stock currently looks fairly priced.
Is it drowning in debt?
Watch
Net debt $10.9B. Interest coverage 8.3x.
Net debt
$10.90B
Interest coverage
8.33x
Stryker Corporation's profit covers its interest bill about 8.3 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
SYK
BASELINE
Stryker Corporation
Total debt $14.18B Interest coverage 8.33x This is the baseline the peer rows are being compared against.
Total debt $28.15B Interest coverage 9.55x +15% vs SYK Has roughly the same debt cushion as SYK.
Total debt $16.81B Interest coverage 4.87x -42% vs SYK Carries about 1.7x less debt cushion than SYK.
Total debt $0.00 Interest coverage 8.05x -3% vs SYK Has roughly the same debt cushion as SYK.
Total debt $7.60B Interest coverage 4.63x -44% vs SYK Carries about 1.8x less debt cushion than SYK.
Total debt $2.94B Interest coverage 2.55x -69% vs SYK Carries about 3.3x less debt cushion than SYK.
What you should know
The case for and against SYK
3 Rewards
1 Risk
Rewards
-
Revenue grew 4.7% last year.
-
Returns 16.0% on equity, ahead of 66% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 5.7% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
31.08x
Forward P/E
17.89x
P/B
4.76x
P/S
4.22x
EV/EBITDA
16.03x
PEG ratio
1.37x
Profitability
How much profit each dollar creates
Gross margin
66.4%
Operating margin
20.4%
Net margin
13.8%
ROE
16.0%
ROA
8.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.60x
Current ratio
2.18x
Quick ratio
1.07x
Total debt
$14.18B
Total cash
$3.27B
Growth
How the business has been compounding
Revenue TTM
$26.30B
Revenue 5Y CAGR
10.1%
EPS TTM
9.39
EPS 5Y CAGR
10.8%
Cash flow
How much cash the business throws off
Operating CF TTM
$5.45B
Free CF TTM
$4.28B
FCF margin
16.3%
Dividend
Shareholder payout
Yield
1.2%
Payout ratio
37.5%
Last ex-div date
2026-09-30