Stryker
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Stryker Corporation operates as a medical technology company. The last earnings update was 82 days ago. More info.
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SYK Share Price and Events
7 Day Returns
1 Year Returns
SYK Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Stryker (SYK) | -1.2% | 5.1% | 8.7% | 18.5% | 69% | 151.9% |
| US Medical Equipment | -0.5% | 3.1% | 6.4% | 14.6% | 62% | 103.5% |
| US Market | 0.8% | 4.3% | 2.8% | 4.8% | 37.9% | 43.5% |
1 Year Return vs Industry and Market
- SYK outperformed the Medical Equipment industry which returned 14.6% over the past year.
- SYK outperformed the Market in United States of America which returned 4.8% over the past year.
SYK Value
Is Stryker undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Stryker
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Stryker.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 28 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Medical Equipment Unlevered Beta | Simply Wall St/ S&P Global | 0.87 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.869 (1 + (1- 21%) (11.5%)) |
0.965 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.97 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.965 * 5.96%) |
8.48% |
Discounted Cash Flow Calculation for NYSE:SYK using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Stryker is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.48%) |
|
|---|---|---|---|
| 2020 | 2,860.40 | Analyst x5 | 2,636.73 |
| 2021 | 3,236.00 | Analyst x4 | 2,749.71 |
| 2022 | 3,245.50 | Analyst x2 | 2,542.13 |
| 2023 | 3,544.50 | Analyst x2 | 2,559.24 |
| 2024 | 3,732.43 | Est @ 5.3% | 2,484.19 |
| 2025 | 3,901.52 | Est @ 4.53% | 2,393.68 |
| 2026 | 4,057.20 | Est @ 3.99% | 2,294.55 |
| 2027 | 4,203.75 | Est @ 3.61% | 2,191.53 |
| 2028 | 4,344.47 | Est @ 3.35% | 2,087.79 |
| 2029 | 4,481.86 | Est @ 3.16% | 1,985.39 |
| Present value of next 10 years cash flows | $23,924.95 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $4,481.86 × (1 + 2.73%) ÷ (8.48% – 2.73%) |
$80,033.37 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $80,033.37 ÷ (1 + 8.48%)10 |
$35,453.54 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $23,924.95 + $35,453.54 |
$59,378.50 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $59,378.50 / 373.11 |
$159.15 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $159.15 |
| Current discount | Discount to share price of
$205.49
= -1 x ($205.49 - $159.15) / $159.15 |
-29.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Stryker is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Stryker's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Stryker's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $9.42 |
| NYSE:SYK Share Price ** | NYSE (2019-07-15) in USD | $205.49 |
| United States of America Medical Equipment Industry PE Ratio | Median Figure of 64 Publicly-Listed Medical Equipment Companies | 40.99x |
| United States of America Market PE Ratio | Median Figure of 3,084 Publicly-Listed Companies | 18.01x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Stryker.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:SYK Share Price ÷ EPS (both in USD) = 205.49 ÷ 9.42 |
21.82x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Stryker is good value based on earnings compared to the US Medical Equipment industry average.
- Stryker is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Stryker's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 21.82x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 28 Analysts |
7.6%per year |
| United States of America Medical Equipment Industry PEG Ratio | Median Figure of 55 Publicly-Listed Medical Equipment Companies | 2.32x |
| United States of America Market PEG Ratio | Median Figure of 2,124 Publicly-Listed Companies | 1.59x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 21.82x ÷ 7.6% |
2.88x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Stryker is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Stryker's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $31.28 |
| NYSE:SYK Share Price * | NYSE (2019-07-15) in USD | $205.49 |
| United States of America Medical Equipment Industry PB Ratio | Median Figure of 183 Publicly-Listed Medical Equipment Companies | 4.34x |
| United States of America Market PB Ratio | Median Figure of 5,240 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:SYK Share Price ÷ Book Value per Share (both in USD) = 205.49 ÷ 31.28 |
6.57x |
* Primary Listing of Stryker.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Stryker is overvalued based on assets compared to the US Medical Equipment industry average.
Value checks
We assess Stryker's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check) Stryker has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
SYK Future Performance
How is Stryker expected to perform in the next 1 to 3 years based on estimates from 28 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Stryker's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Stryker's earnings growth is positive but not above the United States of America market average.
- Stryker's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:SYK Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 28 Analysts | 7.6% |
| NYSE:SYK Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 28 Analysts | 6.2% |
| United States of America Medical Equipment Industry Earnings Growth Rate | Market Cap Weighted Average | 21.9% |
| United States of America Medical Equipment Industry Revenue Growth Rate | Market Cap Weighted Average | 7.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.1% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.5% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 18,541 | 4,669 | 1 | |
| 2022-12-31 | 17,791 | 4,347 | 3 | |
| 2021-12-31 | 16,827 | 4,108 | 3,376 | 18 |
| 2020-12-31 | 15,782 | 3,682 | 3,057 | 28 |
| 2019-12-31 | 14,780 | 3,166 | 2,641 | 28 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 13,876 | 2,626 | 3,522 |
| 2018-12-31 | 13,601 | 2,610 | 3,553 |
| 2018-09-30 | 13,276 | 2,243 | 1,236 |
| 2018-06-30 | 13,040 | 1,704 | 1,080 |
| 2018-03-31 | 12,730 | 1,705 | 1,019 |
| 2017-12-31 | 12,444 | 1,559 | 1,020 |
| 2017-09-30 | 12,130 | 1,538 | 1,779 |
| 2017-06-30 | 11,957 | 1,961 | 1,700 |
| 2017-03-31 | 11,785 | 1,804 | 1,689 |
| 2016-12-31 | 11,325 | 1,915 | 1,647 |
| 2016-09-30 | 10,883 | 1,928 | 1,659 |
| 2016-06-30 | 10,470 | 917 | 1,605 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
All data from Stryker Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 9.35 | 9.35 | 9.35 | 1.00 |
| 2021-12-31 | 8.95 | 9.67 | 8.18 | 7.00 |
| 2020-12-31 | 8.03 | 9.04 | 7.07 | 11.00 |
| 2019-12-31 | 6.93 | 8.15 | 6.01 | 10.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 9.42 |
| 2018-12-31 | 9.50 |
| 2018-09-30 | 3.30 |
| 2018-06-30 | 2.89 |
| 2018-03-31 | 2.72 |
| 2017-12-31 | 2.73 |
| 2017-09-30 | 4.76 |
| 2017-06-30 | 4.54 |
| 2017-03-31 | 4.51 |
| 2016-12-31 | 4.40 |
| 2016-09-30 | 4.44 |
| 2016-06-30 | 4.29 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Stryker's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Stryker has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
SYK Past Performance
How has Stryker performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Stryker has delivered over 20% year on year earnings growth in the past 5 years.
- Stryker's 1-year earnings growth exceeds its 5-year average (245.6% vs 24.7%)
- Stryker's earnings growth has exceeded the US Medical Equipment industry average in the past year (245.6% vs 31.9%).
Earnings and Revenue History
All data from Stryker Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 13,876.00 | 3,522.00 | 4,678.00 | 883.00 |
| 2018-12-31 | 13,601.00 | 3,553.00 | 4,608.00 | 862.00 |
| 2018-09-30 | 13,276.00 | 1,236.00 | 4,635.00 | 846.00 |
| 2018-06-30 | 13,040.00 | 1,080.00 | 4,506.00 | 823.00 |
| 2018-03-31 | 12,730.00 | 1,019.00 | 4,447.00 | 799.00 |
| 2017-12-31 | 12,444.00 | 1,020.00 | 4,339.00 | 787.00 |
| 2017-09-30 | 12,130.00 | 1,779.00 | 4,239.00 | 771.00 |
| 2017-06-30 | 11,957.00 | 1,700.00 | 4,167.00 | 757.00 |
| 2017-03-31 | 11,785.00 | 1,689.00 | 4,076.00 | 748.00 |
| 2016-12-31 | 11,325.00 | 1,647.00 | 3,953.00 | 715.00 |
| 2016-09-30 | 10,883.00 | 1,659.00 | 3,828.00 | 690.00 |
| 2016-06-30 | 10,470.00 | 1,605.00 | 3,703.00 | 661.00 |
| 2016-03-31 | 10,062.00 | 1,617.00 | 3,591.00 | 632.00 |
| 2015-12-31 | 9,946.00 | 1,439.00 | 3,511.00 | 625.00 |
| 2015-09-30 | 9,849.00 | 1,177.00 | 3,445.00 | 614.00 |
| 2015-06-30 | 9,818.00 | 933.00 | 3,417.00 | 612.00 |
| 2015-03-31 | 9,749.00 | 669.00 | 3,381.00 | 616.00 |
| 2014-12-31 | 9,675.00 | 515.00 | 3,356.00 | 614.00 |
| 2014-09-30 | 9,525.00 | 641.00 | 2,851.00 | 600.00 |
| 2014-06-30 | 9,287.00 | 687.00 | 3,147.00 | 583.00 |
| 2014-03-31 | 9,136.00 | 772.00 | 3,305.00 | 557.00 |
| 2013-12-31 | 9,021.00 | 1,006.00 | 3,345.00 | 536.00 |
| 2013-09-30 | 8,891.00 | 890.00 | 4,046.00 | 526.00 |
| 2013-06-30 | 8,792.00 | 1,140.00 | 3,700.00 | 504.00 |
| 2013-03-31 | 8,686.00 | 1,252.00 | 3,513.00 | 488.00 |
| 2012-12-31 | 8,657.00 | 1,298.00 | 3,255.00 | 471.00 |
| 2012-09-30 | 8,534.00 | 1,429.00 | 3,219.00 | 457.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Stryker has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Stryker used its assets more efficiently than the US Medical Equipment industry average last year based on Return on Assets.
- Stryker has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Stryker's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Stryker has a total score of 6/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
SYK Health
How is Stryker's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Stryker's finances.
The net worth of a company is the difference between its assets and liabilities.
- Stryker is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Stryker's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Stryker Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 11,693.00 | 8,471.00 | 1,758.00 |
| 2018-12-31 | 11,730.00 | 9,859.00 | 3,699.00 |
| 2018-09-30 | 9,860.00 | 7,203.00 | 2,210.00 |
| 2018-06-30 | 9,460.00 | 7,202.00 | 1,920.00 |
| 2018-03-31 | 9,223.00 | 7,904.00 | 2,455.00 |
| 2017-12-31 | 9,980.00 | 7,222.00 | 2,793.00 |
| 2017-09-30 | 10,425.00 | 7,225.00 | 2,729.00 |
| 2017-06-30 | 10,035.00 | 7,366.00 | 3,788.00 |
| 2017-03-31 | 9,704.00 | 7,219.00 | 3,326.00 |
| 2016-12-31 | 9,550.00 | 6,914.00 | 3,384.00 |
| 2016-09-30 | 9,332.00 | 6,848.00 | 3,022.00 |
| 2016-06-30 | 9,098.00 | 7,644.00 | 3,656.00 |
| 2016-03-31 | 8,808.00 | 7,476.00 | 7,483.00 |
| 2015-12-31 | 8,511.00 | 4,002.00 | 4,079.00 |
| 2015-09-30 | 8,484.00 | 3,490.00 | 3,374.00 |
| 2015-06-30 | 8,505.00 | 3,469.00 | 4,280.00 |
| 2015-03-31 | 8,321.00 | 3,485.00 | 4,278.00 |
| 2014-12-31 | 8,595.00 | 3,973.00 | 5,000.00 |
| 2014-09-30 | 8,624.00 | 3,962.00 | 4,677.00 |
| 2014-06-30 | 9,002.00 | 3,867.00 | 4,745.00 |
| 2014-03-31 | 9,063.00 | 3,064.00 | 4,047.00 |
| 2013-12-31 | 9,047.00 | 2,764.00 | 3,980.00 |
| 2013-09-30 | 8,737.00 | 2,774.00 | 5,138.00 |
| 2013-06-30 | 8,603.00 | 2,771.00 | 4,652.00 |
| 2013-03-31 | 8,456.00 | 2,772.00 | 4,487.00 |
| 2012-12-31 | 8,597.00 | 1,762.00 | 4,285.00 |
| 2012-09-30 | 8,361.00 | 1,769.00 | 3,863.00 |
- Stryker's level of debt (72.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (33.9% vs 72.4% today).
- Debt is well covered by operating cash flow (31%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 24.5x coverage).
Financial health checks
We assess Stryker's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Stryker has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
SYK Dividends
What is Stryker's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Stryker
shares you are expected to receive
$20
in your first year as a dividend.
Dividend Amount
- Stryker's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
- Stryker's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 28 Analyst Estimates (S&P Global) | See Below |
| United States of America Medical Equipment Industry Average Dividend Yield | Market Cap Weighted Average of 24 Stocks | 1.2% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2018 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 2.57 | 5.00 |
| 2020-12-31 | 2.27 | 10.00 |
| 2019-12-31 | 2.09 | 10.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-01 | 2.080 | 1.072 |
| 2019-02-06 | 2.080 | 1.095 |
| 2018-12-04 | 2.080 | 1.272 |
| 2018-08-01 | 1.880 | 1.108 |
| 2018-05-02 | 1.880 | 1.098 |
| 2018-02-07 | 1.880 | 1.165 |
| 2017-08-02 | 1.700 | 1.127 |
| 2017-05-03 | 1.700 | 1.206 |
| 2017-02-08 | 1.700 | 1.302 |
| 2016-07-27 | 1.520 | 1.308 |
| 2016-04-27 | 1.520 | 1.323 |
| 2016-02-10 | 1.520 | 1.455 |
| 2015-12-10 | 1.520 | 1.627 |
| 2015-07-29 | 1.380 | 1.410 |
| 2015-04-30 | 1.380 | 1.435 |
| 2015-02-11 | 1.380 | 1.480 |
| 2014-12-03 | 1.380 | 1.477 |
| 2014-07-21 | 1.220 | 1.456 |
| 2014-04-22 | 1.220 | 1.484 |
| 2014-02-12 | 1.220 | 1.505 |
| 2013-12-04 | 1.220 | 1.604 |
| 2013-07-25 | 1.060 | 1.494 |
| 2013-04-30 | 1.060 | 1.579 |
| 2013-02-13 | 1.060 | 1.633 |
| 2012-12-05 | 1.060 | 1.803 |
| 2012-10-22 | 0.850 | 1.599 |
| 2012-07-24 | 0.850 | 1.581 |
| 2012-04-24 | 0.850 | 1.608 |
| 2012-04-17 | 0.850 | 1.572 |
| 2011-12-07 | 0.850 | 1.615 |
| 2011-08-19 | 0.720 | 1.501 |
| 2011-06-09 | 0.720 | 1.313 |
| 2011-02-09 | 0.720 | 1.178 |
| 2010-12-08 | 0.720 | 1.288 |
| 2010-09-15 | 0.600 | 1.190 |
| 2010-06-21 | 0.600 | 1.253 |
| 2010-02-25 | 0.600 | 1.086 |
| 2009-12-03 | 0.600 | 1.140 |
| 2009-10-30 | 0.400 | 0.817 |
| 2008-12-03 | 0.400 | 1.008 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Stryker's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (4.8x coverage).
- Dividends after 3 years are expected to be well covered by earnings (4.3x coverage).
Income/ dividend checks
We assess Stryker's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Stryker afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Stryker has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
SYK Management
CEO
| COMPENSATION | $13,911,065 |
| AGE | 54 |
| TENURE AS CEO | 6.8 years |
CEO Bio
Mr. Kevin A. Lobo has been the Chief Executive Officer of Stryker Corporation since October 1, 2012. Mr. Lobo served as the President of Stryker from October 1, 2012 to August 1, 2018. He served as the President at Orthovita Inc. since June 27, 2011. He was the Group President of Orthopaedics at Stryker Corporation since June 10, 2011 until October 2012. He served as Group President at Howmedica Osteonics Corporation. He served as the President of Ethicon Endo-Surgery, a division of Johnson & Johnson, from June 2009 to April 2011, as President of Ethicon Endo-Surgery from July 2006 to May 2009 and President of Johnson & Johnson Medical Products from October 2005 to July 2006. He served as President of J&J Medical Products Canada and at McNeil as the Vice President of Finance for Consumer and Specialty Pharmaceuticals and Ortho Women's Health & Urology. He also worked for Rhone-Poulenc in North America and Europe, as well as Kraft and KPMG in Canada. Mr. Lobo served as a Vice President of Finance. He has been the Chairman of Stryker Corporation (medical technology) since July 22, 2014. He has been a Director of Stryker Corporation since October 1, 2012 and Parker-Hannifin Corporation since August 1, 2013. Mr. Lobo received his Bachelor’s degree in Commerce from McGill University and his MBA from the University of Toronto.
CEO Compensation
- Kevin's compensation has been consistent with company performance over the past year, both up more than 20%.
- Kevin's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Stryker management team in years:
- The average tenure for the Stryker management team is less than 2 years, this suggests a new team.
Management Team
Kevin Lobo
Chairman & CEO
$14M
54
6.8 yrs
Tim Scannell
President & COO
$7M
54
0.9 yrs
Glenn Boehnlein
VP & CFO
$4M
57
3.3 yrs
Viju Menon
Group President of Global Quality & Operations
$4M
51
1.3 yrs
Mike Hutchinson
Advisor to Chief Executive Officer
$2M
48
0.3 yrs
William Berry
Principal Accounting Officer
53
5.4 yrs
Bijoy S. Sagar
VP & Chief Digital Technology Officer
50
0.8 yrs
Katherine Owen
Vice President of Strategy & Investor Relations
48
2.4 yrs
Bronwen Taylor
Vice President of Compliance & Risk Management
5.9 yrs
Robert Fletcher
VP & Chief Legal Officer
0.3 yrs
Board of Directors Tenure
Average tenure and age of the Stryker board of directors in years:
- The tenure for the Stryker board of directors is about average.
Board of Directors
Kevin Lobo
Chairman & CEO
$14M
54
5 yrs
John Brown
Chairman Emeritus
$287K
84
Louise Francesconi
Independent Director
$305K
66
13 yrs
Frederic Doliveux
Independent Director
$305K
63
9.1 yrs
Andy Silvernail
Independent Director
$310K
48
5.7 yrs
Allan Golston
Lead Independent Director
$325K
52
2.8 yrs
Ronda Stryker
Independent Director
$290K
64
35.5 yrs
Srikant T. Datar
Independent Director
$290K
66
10 yrs
Mary Brainerd
Director
$290K
65
1.9 yrs
Rajeev Suri
Director
$252K
52
1.2 yrs
Who owns this company?
Recent Insider Trading
- Stryker individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. May 19 | Sell | Bijoy S. Sagar | Individual | 06. May 19 | 06. May 19 | -2,000 | $190.43 | $-380,855 | ||
| 03. May 19 | Buy | Frederic Doliveux | Individual | 30. Apr 19 | 30. Apr 19 | 43 | $188.77 | $8,117 | ||
| 29. Apr 19 | Sell | Louise Francesconi | Individual | 25. Apr 19 | 25. Apr 19 | -2,679 | $187.25 | $-501,648 | ||
| 04. Feb 19 | Sell | M. Fink | Individual | 04. Feb 19 | 04. Feb 19 | -180 | $176.77 | $-31,819 | ||
| 04. Feb 19 | Buy | Frederic Doliveux | Individual | 31. Jan 19 | 31. Jan 19 | 46 | $177.26 | $8,154 | ||
| 11. Dec 18 | Sell | Bijoy S. Sagar | Individual | 07. Dec 18 | 07. Dec 18 | -2,361 | $171.24 | $-404,289 | ||
| 07. Nov 18 | Sell | M. Fink | Individual | 05. Nov 18 | 05. Nov 18 | -85 | $165.67 | $-14,082 | ||
| 06. Nov 18 | Sell | M. Fink | Individual | 05. Nov 18 | 05. Nov 18 | -415 | $166.56 | $-69,124 | ||
| 06. Nov 18 | Sell | William Berry | Individual | 05. Nov 18 | 05. Nov 18 | -1,281 | $165.69 | $-212,249 | ||
| 02. Nov 18 | Buy | Frederic Doliveux | Individual | 31. Oct 18 | 31. Oct 18 | 45 | $163.39 | $7,352 | ||
| 02. Aug 18 | Buy | Frederic Doliveux | Individual | 31. Jul 18 | 31. Jul 18 | 44 | $165.32 | $7,274 | ||
Management checks
We assess Stryker's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Stryker has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
SYK News
Simply Wall St News
Stryker (NYSE:SYK) Seems To Use Debt Quite Sensibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. … NYSE:SYK Historical Debt, July 9th 2019 How Healthy Is Stryker's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Stryker's balance sheet over time.
Simply Wall St - – Full articleDoes Stryker Corporation's (NYSE:SYK) CEO Pay Reflect Performance?
Kevin Lobo became the CEO of Stryker Corporation (NYSE:SYK) in 2012. … Check out our latest analysis for Stryker How Does Kevin Lobo's Compensation Compare With Similar Sized Companies? … According to our data, Stryker Corporation has a market capitalization of US$77b, and pays its CEO total annual compensation worth US$14m.
Simply Wall St - – Full articleShould We Be Delighted With Stryker Corporation's (NYSE:SYK) ROE Of 30%?
Does Stryker Have A Good Return On Equity? … Combining Stryker's Debt And Its 30% Return On Equity Although Stryker does use debt, its debt to equity ratio of 0.72 is still low. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
Simply Wall St - – Full articleBe Sure To Check Out Stryker Corporation (NYSE:SYK) Before It Goes Ex-Dividend
That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. … We love that Stryker is growing earnings per share while simultaneously paying out a low percentage of both its earnings and cash flow. … See what the 28 analysts we track are forecasting, with this visualisation of its historical and future estimated earnings and cash flow We wouldn't recommend just buying the first dividend stock you see, though.
Simply Wall St - – Full articleWhy Stryker Corporation’s (NYSE:SYK) Return On Capital Employed Is Impressive
Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Stryker: 0.14 = US$3.2b ÷ (US$26b - US$3.7b) (Based on the trailing twelve months to March 2019.) Therefore, Stryker has an ROCE of 14%. … Stryker's Current Liabilities And Their Impact On Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.
Simply Wall St - – Full articleWhy Stryker Corporation (NYSE:SYK) Is An Attractive Investment To Consider
Outstanding track record average dividend payer Over the past few years, SYK has more than doubled its earnings, with its most recent figure exceeding its annual average over the past five years. … NYSE:SYK Income Statement, May 31st 2019 SYK is also a dividend company, with ample net income to cover its dividend payout, which has been consistently growing over the past decade, keeping income investors happy. … NYSE:SYK Historical Dividend Yield, May 31st 2019 Next Steps: For Stryker, I've compiled three essential aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for SYK’s future growth?
Simply Wall St - – Full articleHow Many Stryker Corporation (NYSE:SYK) Shares Have Insiders Sold, In The Last Year?
So shareholders might well want to know whether insiders have been buying or selling shares in Stryker Corporation (NYSE:SYK). … Stryker Insiders Are Selling The Stock Over the last three months, we've seen notably more insider selling, than insider buying, at Stryker. … Since the selling really does outweigh the buying, we'd say that these transactions may suggest that some insiders feel the shares are not cheap.
Simply Wall St - – Full articleWhat Investors Should Know About Stryker Corporation's (NYSE:SYK) Financial Strength
Moreover, SYK has generated US$2.6b in operating cash flow in the last twelve months, resulting in an operating cash to total debt ratio of 30%, indicating that SYK’s current level of operating cash is high enough to cover debt. … At the current liabilities level of US$3.7b, the company has been able to meet these obligations given the level of current assets of US$7.9b, with a current ratio of 2.12x. … Next Steps: Although SYK’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.
Simply Wall St - – Full articleAre Stryker Corporation (NYSE:SYK) Investors Paying Above The Intrinsic Value?
by taking the expected future cash flows and discounting them to today's value. … This is done using the Discounted Cash Flow (DCF) model. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleDo Institutions Own Stryker Corporation (NYSE:SYK) Shares?
A look at the shareholders of Stryker Corporation (NYSE:SYK) can tell us which group is most powerful. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of US$70b, Stryker is rather large.
Simply Wall St - – Full articleSYK Company Info
Description
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties. The Neurotechnology and Spine segment provides neurotechnology products that include products used for minimally invasive endovascular techniques; products for brain and open skull based surgical procedures; orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products; and minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke. It also provides spinal implant products comprising cervical, thoracolumbar, and interbody systems for use in spinal injury, deformity, and degenerative therapies. The company sells its products to doctors, hospitals, and other healthcare facilities through company-owned subsidiaries and branches, as well as third-party dealers and distributors in approximately 80 countries. Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan.
Details
| Name: | Stryker Corporation |
| SYK | |
| Exchange: | NYSE |
| Founded: | 1941 |
| $76,669,392,685 | |
| 373,105,225 | |
| Website: | http://www.stryker.com |
| Address: |
Stryker Corporation 2825 Airview Boulevard, Kalamazoo, Michigan, 49002, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | SYK | Common Stock | New York Stock Exchange | US | USD | 02. Jan 1980 | |
| DB | SYK | Common Stock | Deutsche Boerse AG | DE | EUR | 02. Jan 1980 | |
| LSE | 0R2S | Common Stock | London Stock Exchange | GB | USD | 02. Jan 1980 | |
| SWX | SYK | Common Stock | SIX Swiss Exchange | CH | CHF | 02. Jan 1980 | |
| WBAG | SYK | Common Stock | Wiener Boerse AG | AT | EUR | 02. Jan 1980 | |
| BMV | SYK * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 02. Jan 1980 |
Number of employees
Current staff
Industry
| Health Care Equipment | |
| Healthcare |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/15 23:45 |
| End of day share price update: | 2019/07/15 00:00 |
| Last estimates confirmation: | 2019/07/15 |
| Last earnings filing: | 2019/04/24 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
