Stryker Corp (SYK)

Health Care · Health Care Equipment · US stock · S&P 500 component

$307.08 ▲ +9.48 (3.19%)

At close 22 Oct 2026 · USD · Volume 2,804,649

Compare with BSX

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$315 +2.6% to fair value

$158fair band $268–$382$473

Day's range

$299.36 – $309.67

52-week range

$267.00 – $392.55

About Stryker Corp

Stryker is a medical technology company that makes orthopedic implants, surgical equipment, neurotechnology products and hospital beds and emergency care devices. It is known for joint replacement products and its Mako surgical robot. Revenue comes from selling implants, instruments and capital equipment to hospitals and surgical centers worldwide, along with service and disposable products used in procedures.

The company reported revenue of $25.8 billion over the last twelve months. Across three years, revenue grew 10.8% a year. It posts an operating margin of 21.4%, with return on invested capital of 11%. Leverage, measured as net debt to EBITDA, is 1.6 times. The dividend yield is 1.1%. Overall, the X-Ray Score comes to 56 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $267.00 – $392.55Volume 2,804,649Daily, split-adjusted

Vitals

Market cap$118.5B

52-week range$267.00 – $392.55

Volume (last day)2,804,649

P/E (TTM)31.8

EBIT / EV yield4.2%

Free-cash-flow yield4.0%

Dividend yield1.1%

Revenue (TTM)$25.8B

Net income (TTM)$3.7B

Operating margin21.4%

Return on capital11.2%

Debt incl. leases$15.2B

Cash & securities$3.5B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$315middle half of models $273 – $368

Fair +2.6% to fair value

Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $307

Undervalued < $268Fair $268 – $382Overvalued > $382

P/E multiple

$321

P/B multiple

$357

P/S multiple

$324

EV/EBITDA multiple

$347

EV/EBIT multiple

$397

EV/revenue multiple

$324

10-year DCF, EBITDA exit

$388

5-year DCF, EBITDA exit

$395

10-year DCF, revenue exit

$368

5-year DCF, revenue exit

$368

10-year DCF, growth exit

$228

5-year DCF, growth exit

$206

Dividend discount, stable

$181

Dividend discount, multi-stage

$318

Earnings power value

$205

Growth the price implies

18.4%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Average business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better ✓ 51 The price is not above fair value $315 fair value Debt looks manageable 1.6× EBITDA Revenue has been growing 10.8% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Fair

51/100

Priced about in line with its sector.

See the numbers →

EBIT / EV yield4.2%

Free-cash-flow yield4.0%

Fair value vs price1.0×

Growth Strong

74/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)10.8%

EPS growth (3y)10.8%

Growth consistency100%

Profitability Fair

55/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital11.2%

Operating margin21.4%

Gross profitability35.0%

Financial health Weak

46/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Net debt / EBITDA1.6×

Interest cover9.2×

Dividends Fair

57/100

Dividend is typical for its sector.

See the numbers →

Dividend yield1.1%

Dividends vs free cash flow29%

Dividend growth6.9%

Quarterly results: last 6 quarters

+11.9%

Mar '25

+11.1%

Jun '25

+10.2%

Sep '25

+11.4%

Dec '25

+2.6%

Mar '26

+9.4%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $6.6B, diluted EPS $3.30.

Compare with peers

DXCM Dexcom Inc78 PODD Insulet Corp72 RMD Resmed Inc70 BSX Boston Scientific Corp67

Other Health Care Equipment companies by X-Ray Score.

SWOT analysis: Stryker Corp

Strengthsinside the company

Revenue has grown 10.8% a year over three years (median 8.5% for industry peers).

Weaknessesinside the company

No clear weakness in the figures we track.

Opportunitiesvaluation and setting

Dividends use only 29% of free cash flow, which leaves room to raise them.

Threatsvaluation and setting

No specific threat is flagged by our checks; general market and interest-rate risk still applies.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare SYK with peers and sector

Medians of 15 Health Care Equipment peers and of 59 Health Care stocks in our universe. Largest peers (X-Ray Score): ABT 41, ISRG 62, MDT 57, BSX 67, BDX 47, EW 55.

Metric	SYK	Peers	Sector
X-Ray Score (out of 100)	56	57	49
Valuation	51	60	55
Growth	74	66	47
Profitability	55	49	49
Financial health	46	64	48
Dividends	57	35	50

Sector leaders: highest X-Ray Score in Health Care

SYK ranks #22 of 60 in Health Care and #9 of 16 in Health Care Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 INCY Incyte Corp	80
#2 DXCM Dexcom Inc	78
#3 PODD Insulet Corp	72
#4 RMD Resmed Inc	70
#5 ZTS Zoetis Inc.	69
…
#22 SYK Stryker Corp (this stock)	56

Metric	SYK	Peers	Sector
P/E ratio	31.8x	29.5x	28.0x
PEG ratio	2.93	1.04	2.29
Price / book	4.9x	3.2x	3.7x
Price / sales	4.6x	3.8x	3.6x
EV / EBITDA	18.2x	17.4x	17.5x
Price / free cash flow	25.2x	24.4x	22.3x
Dividend yield	1.1%	1.0%	1.0%
Gap to our fair value	+2.6%	+3.6%	−1.8%

Metric	SYK	Peers	Sector
Price change, 1 month	+12.0%	+7.8%	+7.6%
Price change, 3 months	−0.4%	+11.7%	+14.9%
Price change, 6 months	−6.2%	+10.5%	+22.3%
Price change, 1 year	−20.1%	−4.0%	+21.9%

Metric	SYK	Peers	Sector
Market value	$118.5B	$37.0B	$49.2B
Revenue (last 12 months)	$25.8B	$8.5B	$14.3B
EBITDA (last 12 months)	$7.2B	$2.1B	$2.7B
Net income (last 12 months)	$3.7B	$1,000M	$1.4B
Free cash flow (last 12 months)	$4.7B	$1.5B	$2.1B

Metric	SYK	Peers	Sector
Revenue growth, last year	+11.2%	+8.7%	+7.1%
Revenue growth, 3 years a year	+10.8%	+8.5%	+5.5%
EPS growth, 3 years a year	+10.8%	+18.7%	+4.5%
Free cash flow growth, 3 years a year	+28.1%	+35.0%	+4.2%
Dividend growth	+6.9%	+1.8%	+4.1%

Metric	SYK	Peers	Sector
Gross margin	65.0%	62.5%	65.0%
EBITDA margin	27.7%	26.5%	20.5%
Operating margin	21.4%	18.1%	15.8%
Net margin	14.4%	13.3%	10.0%
Return on invested capital	11.2%	10.1%	12.5%
Return on equity	15.5%	12.1%	13.6%

Metric	SYK	Peers	Sector
Net debt / EBITDA	1.6x	2.0x	2.0x
Interest cover	9.2x	18.8x	10.4x
Current ratio	2.2x	1.8x	1.5x
Piotroski F-score (0 to 9)	4	7	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for SYK

Each factor is rated by where SYK stands among the 60 Health Care stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 6 Good · 15 Average · 2 Bad of 23 Growth: 2 · 1 · 0 Profitability: 1 · 4 · 0 Financial strength: 1 · 2 · 1 Valuation: 0 · 5 · 0 Cash flow: 1 · 3 · 0 Efficiency: 1 · 0 · 1

Factor	SYK	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+10.8%	Good beats 79%	+5.5%	–	–
Revenue growth, last year	+11.2%	Good beats 74%	+7.1%	+11.1%	≈ In line
EPS growth, 3 years a year	+10.8%	Average beats 64%	+5.0%	–	–
Profitability
Gross margin	65.0%	Average beats 49%	65.0%	63.9%	≈ In line
Operating margin	21.4%	Good beats 69%	16.4%	16.3%	▲ Better
Net margin	14.4%	Average beats 59%	11.1%	12.9%	▲ Better
Return on invested capital	11.2%	Average beats 46%	12.2%	–	–
Return on equity	15.5%	Average beats 59%	13.7%	14.5%	≈ In line
Financial strength
Net debt / EBITDA	1.6x	Average beats 64%	2.0x	1.9x	≈ In line
Interest cover	9.2x	Average beats 48%	9.4x	8.4x	≈ In line
Current ratio	2.16	Good beats 78%	1.52	1.89	▲ Better
Piotroski F-score	4 / 9	Bad beats 10%	6 / 9	–	–
Valuation
P/E ratio	31.8x	Average beats 41%	28.2x	41.8x	▲ Better
Price / book	4.9x	Average beats 43%	3.7x	6.2x	▲ Better
Price / sales	4.6x	Average beats 41%	3.7x	5.6x	▲ Better
EV / EBITDA	18.2x	Average beats 46%	17.6x	25.4x	▲ Better
Free cash flow yield	4.0%	Average beats 38%	4.4%	2.7%	▲ Better
Cash flow
Free cash flow margin	18.2%	Average beats 59%	16.3%	15.4%	▲ Better
Cash from operations / net income	1.48	Average beats 40%	1.61	1.42	≈ In line
Free cash flow growth, 3 years a year	+28.1%	Good beats 83%	+4.3%	–	–
Accruals (lower is better)	−3.7%	Average beats 47%	−3.9%	–	–
Efficiency
Inventory turnover	1.6x	Bad beats 17%	2.9x	1.7x	≈ In line
Days sales outstanding	53 days	Good beats 73%	62 days	64 days	▲ Better

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 5 Good · ● 10 Average · ● 1 Bad

Cash quality

Earnings backed by cashAverage

Free-cash-flow yieldAverage

Risk models

Altman Z''Average

Piotroski F-ScoreBad

Growth

EPS growth (3y)Average

Free-cash-flow growth (3y)Good

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioGood

Net debt / EBITDAAverage

Interest coverAverage

Valuation

Fair value vs priceAverage

EBIT / EV yieldAverage

Profitability

Return on invested capitalAverage

Operating marginGood

Gross profitabilityAverage

Each check is graded against the company's sector, not a fixed number. Checklist score 58/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$17.1B	$18.4B	$20.5B	$22.6B	$25.1B
Operating income	$2.6B	$2.8B	$3.9B	$3.7B	$4.9B
Net income	$2.0B	$2.4B	$3.2B	$3.0B	$3.2B
Operating cash flow	$3.3B	$2.6B	$3.7B	$4.2B	$5.0B
Operating margin	15.1%	15.4%	19.0%	16.3%	19.5%
Free cash flow	$2.7B	$2.0B	$3.1B	$3.5B	$4.3B
Diluted EPS	$5.21	$6.17	$8.25	$7.76	$8.40

Fiscal years, from SEC filings.

Technical summary

Daily

Bullish

9 bullish · 1 neutral · 6 bearish

Weekly

Bearish

3 bullish · 1 neutral · 8 bearish

Monthly

Strongly bearish

0 bullish · 1 neutral · 7 bearish

Moving averages (daily)

SMA 10	291.9	Bullish
EMA 10	294.2	Bullish
SMA 20	284.1	Bullish
EMA 20	289.5	Bullish
SMA 50	295.9	Bullish
EMA 50	294.7	Bullish
SMA 100	308.4	Bearish
EMA 100	305.0	Bullish
SMA 200	323.8	Bearish
EMA 200	319.5	Bearish

Oscillators (daily)

RSI (14)	64.47	Neutral
MACD (12, 26)	3.10	Bullish
Momentum (12)	10.38	Bullish
Stochastic %K (14)	93.18	Bearish
Williams %R (14)	-6.82	Bearish
CCI (20)	164.9	Bearish

Pivot points (classic, last session)

290.8

295.1

301.1

Pivot

305.4

311.4

315.7

321.7

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

3.52 USD

Yield on today's price

1.15%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
30 Sep 2026	0.8800
30 Jun 2026	0.8800
31 Mar 2026	0.8800
31 Dec 2025	0.8800
30 Sep 2025	0.8400
30 Jun 2025	0.8400
31 Mar 2025	0.8400
31 Dec 2024	0.8400
30 Sep 2024	0.8000
28 Jun 2024	0.8000
27 Mar 2024	0.8000
28 Dec 2023	0.8000

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold SYK

ETF	Share of the fund
IHI iShares U.S. Medical Devices	11.64%
XLV Health Care Select Sector SPDR	1.89%
IYH iShares U.S. Healthcare	1.86%
FTCS First Trust Capital Strength	1.85%
VHT Vanguard Health Care	1.66%
FHLC Fidelity MSCI Health Care Index	1.62%
IXJ iShares Global Healthcare	1.41%
CURE Direxion Daily Healthcare Bull 3X	1.29%

The eight funds with the largest weight in SYK among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.