Tearsheet

Stryker (SYK)


Market Price (11/2/2025): $356.26 | Market Cap: $136.2 Bil
Sector: Health Care | Industry: Health Care Equipment

Stryker (SYK)


Market Price (11/2/2025): $356.26
Market Cap: $136.2 Bil
Sector: Health Care
Industry: 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


0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%
Weak multi-year price returns
2Y Excs Rtn is -28%, 3Y Excs Rtn is -18%
Expensive valuation multiples
P/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
1 Attractive cash flow generation
CFO/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
  
2 Low stock price volatility
Vol 12M is 22%
  
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20%
1 Attractive cash flow generation
CFO/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
2 Low stock price volatility
Vol 12M is 22%
3 Weak multi-year price returns
2Y Excs Rtn is -28%, 3Y Excs Rtn is -18%
4 Expensive valuation multiples
P/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


Qualitative Assessment

AI Generated Analysis | Feedback

null

Show more

Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
SYK Return18%10%-7%24%21%3%93%
Peers Return4%-2%-7%8%3%-1%5%
S&P 500 Return16%27%-19%24%23%16%112%

Monthly Win Rates [3]
SYK Win Rate67%67%50%67%58%44% 
Peers Win Rate43%40%37%40%38%60% 
S&P 500 Win Rate58%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

Unique KeyEventSYKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-32.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven48.0%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven199 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-43.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven77.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven203 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-19.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven24.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven44 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-59.2%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven145.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1766 days1480 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.

About Stryker (SYK)

Better Bets than Stryker (SYK)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to SYK. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG10312025GDRXGoodRxDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper10312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
0.0%0.0%0.0%
ACHC_10242025_Dip_Buyer_ValueBuy10242025ACHCAcadia HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-8.1%-8.1%-8.1%
PBH_10102025_Dip_Buyer_ValueBuy10102025PBHPrestige Consumer HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.7%-0.7%-1.2%
REGN_10032025_Dip_Buyer_ValueBuy10032025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.6%8.6%-7.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG10312025GDRXGoodRxDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper10312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
0.0%0.0%0.0%
ACHC_10242025_Dip_Buyer_ValueBuy10242025ACHCAcadia HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-8.1%-8.1%-8.1%
PBH_10102025_Dip_Buyer_ValueBuy10102025PBHPrestige Consumer HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.7%-0.7%-1.2%
REGN_10032025_Dip_Buyer_ValueBuy10032025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.6%8.6%-7.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Stryker

Financials

SYKJNJMDTZBHITGRCUPRMedian
NameStryker Johnson .MedtronicZimmer B.Integer Cuprina  
Mkt Price356.24188.8790.70100.5664.570.9895.63
Mkt Cap136.2454.9116.219.92.3-116.2
Rev LTM24,38192,14934,2007,8341,831-24,381
Op Inc LTM4,78524,1466,6471,475241-4,785
FCF LTM4,07318,6795,3031,384120-4,073
FCF 3Y Avg3,28217,8144,9641,17385-3,282
CFO LTM4,83224,2047,1461,663204-4,832
CFO 3Y Avg3,95223,2096,6251,512193-3,952

Growth & Margins

SYKJNJMDTZBHITGRCUPRMedian
NameStryker Johnson .MedtronicZimmer B.Integer Cuprina  
Rev Chg LTM11.0%5.1%5.0%4.1%9.5%-5.1%
Rev Chg 3Y Avg10.8%6.1%3.3%4.3%11.6%-6.1%
Rev Chg Q10.2%6.8%8.4%7.0%8.4%-8.4%
QoQ Delta Rev Chg LTM2.4%1.7%2.0%1.8%2.0%-2.0%
Op Mgn LTM19.6%26.2%19.4%18.8%13.1%-19.4%
Op Mgn 3Y Avg19.5%26.4%18.6%19.2%12.2%-19.2%
QoQ Delta Op Mgn LTM0.0%1.7%-0.1%-0.4%0.0%-0.0%
CFO/Rev LTM19.8%26.3%20.9%21.2%11.1%-20.9%
CFO/Rev 3Y Avg17.8%26.4%20.2%20.1%11.6%-20.1%
FCF/Rev LTM16.7%20.3%15.5%17.7%6.6%-16.7%
FCF/Rev 3Y Avg14.7%20.3%15.1%15.5%5.0%-15.1%

Valuation

SYKJNJMDTZBHITGRCUPRMedian
NameStryker Johnson .MedtronicZimmer B.Integer Cuprina  
Mkt Cap136.2454.9116.219.92.3-116.2
P/S5.64.93.42.51.2-3.4
P/EBIT28.514.018.216.114.3-16.1
P/E46.318.124.924.226.1-24.9
P/CFO28.218.816.312.011.1-16.3
Total Yield3.1%8.2%7.1%5.1%3.8%-5.1%
Dividend Yield0.9%2.7%3.1%1.0%0.0%-1.0%
FCF Yield 3Y Avg2.6%4.4%4.5%5.3%2.5%-4.4%
D/E0.10.10.20.40.6-0.2
Net D/E0.10.10.20.40.6-0.2

Returns

SYKJNJMDTZBHITGRCUPRMedian
NameStryker Johnson .MedtronicZimmer B.Integer Cuprina  
1M Rtn-2.8%1.6%-5.0%1.4%-37.4%-11.1%-3.9%
3M Rtn-5.5%13.7%2.3%11.2%-39.4%-88.1%-1.6%
6M Rtn-5.4%22.9%8.6%-1.3%-48.6%-83.9%-3.3%
12M Rtn-2.1%21.8%4.0%-5.4%-48.9%--2.1%
3Y Rtn73.1%21.4%16.8%-4.2%3.8%-16.8%
1M Excs Rtn-4.6%-0.3%-6.9%-0.5%-39.2%-12.9%-5.7%
3M Excs Rtn-14.5%3.2%-6.1%1.0%-47.6%-96.2%-10.3%
6M Excs Rtn-25.7%2.6%-11.7%-21.6%-68.9%-104.2%-23.6%
12M Excs Rtn-17.1%4.5%-13.5%-19.5%-67.6%--17.1%
3Y Excs Rtn-18.0%-58.4%-61.2%-86.7%-71.0%--61.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
MedSurg and Neurotechnology12,16310,6119,5388,345 
Orthopaedics8,335   5,252
Orthopaedics and Spine 7,8387,5706,006 
MedSurg    6,492
Neurotechnology & Spine    3,140
Total20,49818,44917,10814,35114,884


Operating Income by Segment
$ Mil20242023202220212020
MedSurg and Neurotechnology3,4702,7372,8072,414 
Orthopaedics2,265   1,907
Inventory stepped up to fair value0    
Recall-related matters-1815-103-17-192
Acquisition and integration-related charges-20-150-585-242-275
Goodwill and other impairments-36-216   
Regulatory and legal matters-92-762-624
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 2,2962,1801,588 
MedSurg    1,642
Neurotechnology & Spine    839
Total3,8882,8412,5842,2232,713


Assets by Segment
$ Mil20242023202220212020
MedSurg and Neurotechnology20,80418,48715,21815,250 
Orthopaedics18,023   9,085
Corporate and Other1,0859311,2649901,370
Orthopaedics and Spine 17,46618,14918,090 
MedSurg    12,066
Neurotechnology & Spine    7,646
Total39,91236,88434,63134,33030,167


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity3,749,178
Short Interest: % Change Since 9302025-23.2%
Average Daily Volume1,617,816
Days-to-Cover Short Interest2.32
Basic Shares Quantity382,400,000
Short % of Basic Shares1.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251031202510-Q 9/30/2025
6302025801202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024212202510-K 12/31/2024
93020241030202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023214202410-K 12/31/2023
93020231103202310-Q 9/30/2023
6302023804202310-Q 6/30/2023
3312023502202310-Q 3/31/2023
12312022210202310-K 12/31/2022
93020221101202210-Q 9/30/2022
6302022727202210-Q 6/30/2022
3312022429202210-Q 3/31/2022
12312021211202210-K 12/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Menon VijuGroup President8272025Sell390.61500195,3054,886,922Form
1Fletcher Robert SVP, Chief Legal Officer8212025Sell393.071,785701,6304,110,333Form
2STRYKER RONDA E 8072025Sell374.9934,91113,091,2761,270,165,003Form
3Berry William E JrVP, Chief Accounting Officer5142025Sell388.561,241482,2021,100,789Form
4STRYKER RONDA E 5082025Sell374.7618,3626,881,3301,347,883,283Form