Health Care · Health Care Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$294.66
52-week range
$266.16 – $388.25
Market cap
$113.7B
P/E (trailing)
30.5×
EV / EBITDA
17.5×
Free-cash-flow yield
4.1%
Dividend yield
1.2%
Revenue (last 12 months)
$25.8B
Revenue growth (3y a year)
10.8%
Operating margin
21.4%
Return on invested capital
11.2%
Net debt / EBITDA
1.6×
Fair value
Blended fair value$272.32 range $258 – $289
Versus priceFair−8% to fair value
Peer multiples
$266.21
Fundamentals-adjusted multiple
$292.00
10-year DCF (market-scaled)
$258.75
Earnings power value (floor, not blended)
$67.12
Model uncertainty
Medium
X-Ray Score
56/ 100 · High confidence · ahead of 65% of sector peers
Valuation48
Growth74
Profitability55
Financial health46
Dividends57
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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 1.2%.
StocksXray gives Stryker Corp an X-Ray Score of 56 out of 100 (high confidence), ahead of 65% of the S&P 500 stocks in its sector. Its strongest lens is growth (74) and its weakest is financial health (46).
Our fair value blend is $272.32 (range $258.47 to $289.47). At $294.66 the stock trades 8% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Stryker Corp (SYK)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$254.34
$235.47
$291.51
$353.72
$348.48
$294.66
Market cap
$97.2B
$90.0B
$111.9B
$136.4B
$134.7B
$113.7B
P/E
48.8×
38.2×
35.3×
45.6×
41.5×
30.5×
EV / revenue
6.2×
5.5×
5.9×
6.5×
5.8×
4.9×
EV / EBITDA
27.7×
24.5×
23.3×
28.6×
22.7×
17.5×
Price / free cash flow
35.5×
44.2×
35.7×
39.1×
31.4×
24.2×
Free-cash-flow yield
2.8%
2.3%
2.8%
2.6%
3.2%
4.1%
Price / book
6.5×
5.4×
6.0×
6.6×
6.0×
4.7×
Dividend yield
–
–
–
–
–
1.19%
Fundamentals checklist ● 5 Good · ● 10 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.7%Average
Free-cash-flow yield4.1%Average
Risk models
Altman Z score4.4×Average
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)10.8%Average
Free-cash-flow growth (3y)28.1%Good
Revenue growth (3y)10.8%Good
Growth consistency100%Good
Balance sheet
Current ratio2.2×Good
Net debt / EBITDA1.6×Average
Interest cover9.2×Average
Valuation
Fair value vs price0.9×Average
EBIT / EV yield4.4%Average
Profitability
Return on invested capital11.2%Average
Operating margin21.4%Good
Gross profitability35.0%Average
XStocksXray
Stryker Corp (SYK)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
17,108
18,449
20,498
22,595
25,116
25,837
Gross profit
10,968
11,578
13,058
14,440
16,065
16,788
Operating income
2,584
2,841
3,888
3,689
4,889
5,534
Net income
1,994
2,358
3,165
2,993
3,246
3,729
Diluted EPS ($)
5.21
6.17
8.25
7.76
8.40
9.65
Free cash flow
2,738
2,036
3,136
3,487
4,283
4,702
Gross margin
64.1%
62.8%
63.7%
63.9%
64.0%
65.0%
Operating margin
15.1%
15.4%
19.0%
16.3%
19.5%
21.4%
Net margin
11.7%
12.8%
15.4%
13.2%
12.9%
14.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
34,631
36,884
39,912
42,971
47,844
47,930
Cash
2,944
1,844
2,971
3,652
4,011
3,391
Total debt
12,479
13,048
12,995
13,597
15,859
15,192
Equity
14,877
16,616
18,593
20,634
22,420
23,988
Dividend per share ($)
–
–
–
–
–
3.48
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.