Stryker Corporation operates as a medical technology company in the United States and internationally. It operates through two segments, MedSurg and Neurotechnology, and Orthopaedics. The MedSurg and Neurotechnology segment offers surgical equipment, patient and caregiver safety technologies, navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, clinical communication and artificial intelligence-assisted virtual care platform technology, and minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke and venous thromboembolism; traditional brain and open skull based surgical procedures products; and orthobiologic and biosurgery products, including synthetic bone grafts and vertebral augmentation products. The Orthopaedics segment provides implants for use in total joint replacements, such as hip, knee and shoulder, ankle, and trauma and extremities surgeries; and Mako Shoulder, which expands the smart robotics suite of applications. 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 61 countries. Stryker Corporation was founded in 1941 and is headquartered in Portage, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $25.1B | $6.3B | $3.2B | $4.3B | 14.5% | 11.2% | 8.5% |
| 2024 | $22.6B | $5.0B | $3.0B | $3.5B | 14.5% | 10.2% | -5.4% |
| 2023 | $20.5B | $5.1B | $3.2B | $3.1B | 17.0% | 11.1% | 34.2% |
| 2022 | $18.4B | $4.1B | $2.4B | $2.0B | 14.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 18,449 | 20,498 | 22,595 | 25,116 |
| Operating Revenue | - | 18,449 | 20,498 | 22,595 | 25,116 |
| Cost Of Revenue | - | 6,871 | 7,440 | 8,155 | 9,051 |
| Gross Profit | - | 11,578 | 13,058 | 14,440 | 16,065 |
| Operating Expense | - | 8,467 | 9,134 | 9,774 | 11,006 |
| Research And Development | - | 1,454 | 1,388 | 1,466 | 1,623 |
| Selling General And Administration | - | 6,386 | 7,111 | 7,685 | 8,651 |
| Total Expenses | - | 15,338 | 16,574 | 17,929 | 20,057 |
| Operating Income | - | 3,111 | 3,924 | 4,666 | 5,059 |
| Total Operating Income As Reported | - | 2,841 | 3,888 | 3,689 | 4,889 |
| EBITDA | - | 4,109 | 5,064 | 4,951 | 6,314 |
| Normalized EBITDA | - | 4,379 | 5,100 | 5,928 | 6,484 |
| EBIT | - | 3,111 | 4,036 | 3,901 | 5,121 |
| Interest Expense | - | - | 363 | 409 | 607 |
| Net Interest Income | - | - | -363 | -409 | -607 |
| Other Non Operating Income Expenses | - | -158 | 148 | 212 | 232 |
| Other Income Expense | - | -428 | 112 | -765 | 62 |
| Interest Expense Non Operating | - | - | 363 | 409 | 607 |
| Net Non Operating Interest Income Expense | - | - | -363 | -409 | -607 |
| Pretax Income | - | 2,683 | 3,673 | 3,492 | 4,514 |
| Tax Provision | - | 325 | 508 | 499 | 1,268 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -32.67 | -4.97 | -139.61 | -47.75 |
| Net Income Continuous Operations | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Net Income From Continuing And Discontinued Operation | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Net Income | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Net Income Common Stockholders | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Net Income Including Noncontrolling Interests | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Normalized Income | - | 2,595.33 | 3,196.03 | 3,830.39 | 3,368.25 |
| Diluted NI Availto Com Stockholders | - | 2,358 | 3,165 | 2,993 | 3,246 |
| Basic Average Shares | - | 378.20 | 379.60 | 381 | 382.20 |
| Diluted Average Shares | - | 382.20 | 383.70 | 385.60 | 386.50 |
| Reconciled Depreciation | - | 998 | 1,028 | 1,050 | 1,193 |
| Reconciled Cost Of Revenue | - | 6,500 | 7,047 | 7,728 | 8,590 |
| Total Unusual Items | - | -270 | -36 | -977 | -170 |
| Total Unusual Items Excluding Goodwill | - | -270 | -36 | -977 | -170 |
| Special Income Charges | - | -270 | -36 | -977 | -170 |
| Other Special Charges | 103 | -15 | 18 | - | - |
| Impairment Of Capital Assets | - | 270 | 36 | 977 | 170 |
| Depreciation Amortization Depletion Income Statement | - | 627 | 635 | 623 | 732 |
| Depreciation And Amortization In Income Statement | - | 627 | 635 | 623 | 732 |
| Amortization | - | 627 | 635 | 623 | 732 |
| Amortization Of Intangibles Income Statement | - | 627 | 635 | 623 | 732 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Stryker Corporationthis co. | SYK | $115.5B | 35.57β premium | 5.15 | 14.5% | 20.16 |
| Pfizer Inc. | PFE | $146.4B | 18.84 | 1.69 | 9.0% | 12.47 |
| Danaher Corporation | DHR | $132.1B | 36.55 | 2.51 | 6.9% | 21.19 |
| CVS Health Corporation | CVS | $121.0B | 68.43 | 1.61 | 2.4% | 19.52 |
| Bristol-Myers Squibb Company | BMY | $115.6B | 16.39 |
| - |
| - |
| - |
| - |
| - |
| 6.26 |
| 38.2% |
| 10.01 |
| Vertex Pharmaceuticals Incorporated | VRTX | $112.1B | 28.36 | 6.01 | 21.2% | 22.41 |
| Medtronic plc | MDT | $105.2B | 22.56 | 2.19 | 9.7% | 14.26 |
| McKesson Corporation | MCK | $91.0B | 19.11 | -41.89 | -219.2% | 13.32 |
| Elevance Health, Inc. | ELV | $88.9B | 15.70 | 2.03 | 12.9% | - |
| Peer Median | - | 20.84 | 2.11 | 9.3% | 14.26 | |