Stryker (SYK)
Market Price (11/2/2025): $356.26 | Market Cap: $136.2 BilSector: Health Care | Industry: Health Care Equipment
Stryker (SYK)
Market Price (11/2/2025): $356.26Market Cap: $136.2 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% | Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -18% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 46x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 4.8 Bil, FCF LTM is 4.1 Bil | ||
| Low stock price volatilityVol 12M is 22% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 4.8 Bil, FCF LTM is 4.1 Bil |
| Low stock price volatilityVol 12M is 22% |
| Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -18% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 46x |
Market Valuation & Key Metrics
SYK Stock
Why The Stock Moved
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SYK Return | 18% | 10% | -7% | 24% | 21% | 3% | 93% |
| Peers Return | 4% | -2% | -7% | 8% | 3% | -1% | 5% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| SYK Win Rate | 67% | 67% | 50% | 67% | 58% | 44% | |
| Peers Win Rate | 43% | 40% | 37% | 40% | 38% | 60% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| SYK Max Drawdown | -40% | -10% | -29% | 0% | -2% | -6% | |
| Peers Max Drawdown | -29% | -9% | -18% | -9% | -6% | -12% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: JNJ, MDT, ZBH, ITGR, CUPR. See SYK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/31/2025 (YTD)
How Low Can It Go
| Event | SYK | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -32.4% | -25.4% |
| % Gain to Breakeven | 48.0% | 34.1% |
| Time to Breakeven | 199 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.8% | -33.9% |
| % Gain to Breakeven | 77.9% | 51.3% |
| Time to Breakeven | 203 days | 148 days |
| 2018 Correction | ||
| % Loss | -19.3% | -19.8% |
| % Gain to Breakeven | 24.0% | 24.7% |
| Time to Breakeven | 44 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -59.2% | -56.8% |
| % Gain to Breakeven | 145.2% | 131.3% |
| Time to Breakeven | 1766 days | 1480 days |
Compare to JNJ, MDT, ZBH, ITGR, CUPR
In The Past
Stryker's stock fell -32.4% during the 2022 Inflation Shock from a high on 9/8/2021. A -32.4% loss requires a 48.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
| Title | Topic | Date | |
|---|---|---|---|
| DASHBOARDS | |||
| Stryker Earnings Notes | |||
| How Low Can Stryker Stock Really Go? | Return | ||
| Stryker vs Microsoft: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| Stryker vs Eli Lilly: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| SYK Testing Price Floor: Time to Load Up? | Actionable | ||
| Wait For A Dip To Buy Stryker Stock | Buy or Fear | ||
| How Does Stryker Stock Stack Up Against Its Peers? | Peer Comparison | ||
| Better Bet Than SYK Stock: Pay Less Than Stryker To Get More From META, LLY | |||
| Better Bet Than SYK Stock: Pay Less Than Stryker To Get More From LLY, MCK | |||
| Better Bet Than SYK Stock: Pay Less Than Stryker To Get More From GMED | |||
| ARTICLES | |||
| SYK Hits Key Support – Is This The Buying Opportunity? | August 15th, 2025 | ||
| Wait for a dip to buy Stryker stock | August 14th, 2025 | ||
| Better Bet Than Stryker Stock: Pay Less To Get More From GMED, UFPT | August 2nd, 2025 | ||
| S&P 500 Stocks Trading At 52-Week High | July 24th, 2025 | ||
| Better Bet Than Stryker Stock: Pay Less To Get More From GMED, UFPT | July 23rd, 2025 |
Trade Ideas
Select past ideas related to SYK. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | GDRX | GoodRx | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 10312025 | DXCM | DexCom | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 10242025 | ACHC | Acadia Healthcare | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -8.1% | -8.1% | -8.1% |
| 10102025 | PBH | Prestige Consumer Healthcare | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.7% | -0.7% | -1.2% |
| 10032025 | REGN | Regeneron Pharmaceuticals | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.6% | 8.6% | -7.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | GDRX | GoodRx | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 10312025 | DXCM | DexCom | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 10242025 | ACHC | Acadia Healthcare | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -8.1% | -8.1% | -8.1% |
| 10102025 | PBH | Prestige Consumer Healthcare | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.7% | -0.7% | -1.2% |
| 10032025 | REGN | Regeneron Pharmaceuticals | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.6% | 8.6% | -7.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Stryker
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 95.63 |
| Mkt Cap | 116.2 |
| Rev LTM | 24,381 |
| Op Inc LTM | 4,785 |
| FCF LTM | 4,073 |
| FCF 3Y Avg | 3,282 |
| CFO LTM | 4,832 |
| CFO 3Y Avg | 3,952 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 6.1% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 19.4% |
| Op Mgn 3Y Avg | 19.2% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 20.9% |
| CFO/Rev 3Y Avg | 20.1% |
| FCF/Rev LTM | 16.7% |
| FCF/Rev 3Y Avg | 15.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 116.2 |
| P/S | 3.4 |
| P/EBIT | 16.1 |
| P/E | 24.9 |
| P/CFO | 16.3 |
| Total Yield | 5.1% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 4.4% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.9% |
| 3M Rtn | -1.6% |
| 6M Rtn | -3.3% |
| 12M Rtn | -2.1% |
| 3Y Rtn | 16.8% |
| 1M Excs Rtn | -5.7% |
| 3M Excs Rtn | -10.3% |
| 6M Excs Rtn | -23.6% |
| 12M Excs Rtn | -17.1% |
| 3Y Excs Rtn | -61.2% |
Comparison Analyses
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| MedSurg and Neurotechnology | 12,163 | 10,611 | 9,538 | 8,345 | |
| Orthopaedics | 8,335 | 5,252 | |||
| Orthopaedics and Spine | 7,838 | 7,570 | 6,006 | ||
| MedSurg | 6,492 | ||||
| Neurotechnology & Spine | 3,140 | ||||
| Total | 20,498 | 18,449 | 17,108 | 14,351 | 14,884 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| MedSurg and Neurotechnology | 3,470 | 2,737 | 2,807 | 2,414 | |
| Orthopaedics | 2,265 | 1,907 | |||
| Inventory stepped up to fair value | 0 | ||||
| Recall-related matters | -18 | 15 | -103 | -17 | -192 |
| Acquisition and integration-related charges | -20 | -150 | -585 | -242 | -275 |
| Goodwill and other impairments | -36 | -216 | |||
| Regulatory and legal matters | -92 | -76 | 2 | -6 | 24 |
| Medical device regulation | -96 | -140 | -107 | -81 | -62 |
| Structural optimization and other special charges | -170 | -349 | -386 | -458 | -226 |
| Amortization of intangible assets | -635 | -627 | -619 | -472 | -464 |
| Corporate and Other | -780 | -649 | -605 | -503 | -480 |
| Orthopaedics and Spine | 2,296 | 2,180 | 1,588 | ||
| MedSurg | 1,642 | ||||
| Neurotechnology & Spine | 839 | ||||
| Total | 3,888 | 2,841 | 2,584 | 2,223 | 2,713 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| MedSurg and Neurotechnology | 20,804 | 18,487 | 15,218 | 15,250 | |
| Orthopaedics | 18,023 | 9,085 | |||
| Corporate and Other | 1,085 | 931 | 1,264 | 990 | 1,370 |
| Orthopaedics and Spine | 17,466 | 18,149 | 18,090 | ||
| MedSurg | 12,066 | ||||
| Neurotechnology & Spine | 7,646 | ||||
| Total | 39,912 | 36,884 | 34,631 | 34,330 | 30,167 |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10312025 | 10-Q 9/30/2025 |
| 6302025 | 8012025 | 10-Q 6/30/2025 |
| 3312025 | 5022025 | 10-Q 3/31/2025 |
| 12312024 | 2122025 | 10-K 12/31/2024 |
| 9302024 | 10302024 | 10-Q 9/30/2024 |
| 6302024 | 7312024 | 10-Q 6/30/2024 |
| 3312024 | 5012024 | 10-Q 3/31/2024 |
| 12312023 | 2142024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2102023 | 10-K 12/31/2022 |
| 9302022 | 11012022 | 10-Q 9/30/2022 |
| 6302022 | 7272022 | 10-Q 6/30/2022 |
| 3312022 | 4292022 | 10-Q 3/31/2022 |
| 12312021 | 2112022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Menon Viju | Group President | 8272025 | Sell | 390.61 | 500 | 195,305 | 4,886,922 | Form |
| 1 | Fletcher Robert S | VP, Chief Legal Officer | 8212025 | Sell | 393.07 | 1,785 | 701,630 | 4,110,333 | Form |
| 2 | STRYKER RONDA E | 8072025 | Sell | 374.99 | 34,911 | 13,091,276 | 1,270,165,003 | Form | |
| 3 | Berry William E Jr | VP, Chief Accounting Officer | 5142025 | Sell | 388.56 | 1,241 | 482,202 | 1,100,789 | Form |
| 4 | STRYKER RONDA E | 5082025 | Sell | 374.76 | 18,362 | 6,881,330 | 1,347,883,283 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |