SYK
STRYKER CORP
Healthcare • CIK: 0000310764
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Market Cap
$125.68B
P/E (TTM)
37.6x
Rev Growth (TTM)
+8.8%
Net Margin (TTM)
13.2%
FCF Yield (TTM)
3.6%
FCF Margin (TTM)
18.1%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$4.6B
Q1 '26
$415M-78%
Q4 '25
$1.9B+39%
FCF Margin
TTM18.1%
Q1 '266.9%-74%
Sector: 0.0%Top 10%
OCF Margin21.3%
OCF/NI1.61x
CapEx Coverage6.7x
FCF Yield3.6%
FCF Growth (2Y)+26%
Cash Conversion Cycle
267 days
DSO: 55+DIO: 212−DPO: 0
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldEst.
Est.1.0%
Div Yield1.0%
+Est. Buyback1.6%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)1.0%
FCF Payout Ratio28.8%
Free Cash Flow (TTM)$4.6B
Capital Return / FCF28.5%
Est. Dividends Paid (TTM)$1.3B
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
9.5%
Stable
+0.0% YoY-0.7%
P25MedianP75
75th pctl (med: -0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
14.3%
8Q: 14.6%
Asset Turnover
0.54x
8Q: 0.53x
Leverage (1+D/E)
1.64x
D/E: 0.64x
DuPont: 12.7% ≈ 9.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
6.73x
8Q:6.63x
-4.9%
Invested Cap Turn
0.71x
8Q:0.72x
-6.0%
CapEx Intensity
2.3%
8Q:2.1%
CapEx/Depreciation
0.50x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $25.3B | $6.0B↓16.1% | $7.2B↑18.4% | $6.1B↑0.6% | $6.0B↑2.7% | $5.9B↓8.9% | $6.4B↑17.1% | $5.5B↑1.3% | $5.4B |
Operating Income | $5.0B | $936.0M↓48.1% | $1.8B↑58.9% | $1.1B↑2.0% | $1.1B↑33.0% | $837.0M↑44.1% | $581.0M↓46.5% | $1.1B↑3.2% | $1.1B |
Net Income | $3.3B | $745.0M↓12.2% | $849.0M↓1.2% | $859.0M↓2.8% | $884.0M↑35.2% | $654.0M↑19.8% | $546.0M↓34.5% | $834.0M↑1.1% | $825.0M |
Operating Cash Flow | $5.4B | $581.0M↓72.9% | $2.1B↑39.2% | $1.5B↑38.6% | $1.1B↑344.4% | $250.0M↓87.1% | $1.9B↑31.0% | $1.5B↑132.9% | $633.0M |
Free Cash Flow | $4.6B | $415.0M↓77.9% | $1.9B↑38.6% | $1.4B↑45.8% | $928.0M↑630.7% | $127.0M↓92.4% | $1.7B↑27.7% | $1.3B↑171.1% | $481.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
37.6x
Volatile
8Q: 167.1x-2175%
Valuation Lenses
Earnings
37.6x
vs – sector
Cash Flow
30.4x
EV/FCF vs –
Growth-Adj
2.2xPEG
Expensive for growth
Quality-Adj
4.0P/E per %ROIC
ROIC: 9.5%
Shareholder Returns
Dividend
1.0%
Buyback
–
Total Yield
1.0%
Market Cap$125.68B
EV$138.73B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
83/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
15.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
9.5%
8Q:–
Flat
vs Sector:-0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 14.3%
Asset Turnover: 0.54x
Earnings Quality
Cash Conversion
1.61x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin63.8%
Capital Efficiency
Invested Capital Turnover0.71x
Working Capital
Cash Conversion Cycle267 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
69/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
8.8%
OpInc Growth YoY
11.8%
EPS Growth YoY
16.8%
FCF 3Y CAGR
26.3%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
63.8%
Operating
19.7%
Top 25% in sector
Net
13.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+4.9 pts
FCF: 18.1% | Net: 13.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $11.76B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.64x
Balance sheet risk & solvency analysis