# Stryker Corporation (SYK) — Stock CV

Stryker Corporation is a $107B healthcare company. Revenue grew 8.5% over the last year, it keeps 14¢ of every dollar of sales as profit, and its net debt equals ~2.5 years of free cash flow. It trades at 28.5× earnings — near the lowest of its own history.

> Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and implantable devices.

## Identity

- **Ticker**: SYK
- **Sector**: Healthcare
- **Industry**: Surgical & Medical Instruments & Apparatus
- **Headquarters**: PORTAGE, MI
- **Employees**: 56 000
- **Website**: https://www.stryker.com
- **Market cap**: $107B
- **Last price**: $277.70
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $25.8B
- **Net income**: $3.73B
- **Free cash flow**: $4.70B
- **Net debt**: $11.8B
- **P/E**: 28.5
- **Revenue growth (YoY)**: 8.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 69 |
| Growth | 85 |
| Profitability | 72 |
| Health | 62 |
| Quality | 90 |
| Moat | 68 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +8.5% YoY
- [x] Profitable — $3.73B TTM
- [x] Profit growing — +10.8% YoY
- [x] Generates cash — $4.70B TTM
- [x] Debt under control — ~2.5y of cash flow to repay
- [x] Established company — $107B market cap
- [x] Not printing shares — +1.6% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 50/100
- [x] Pays a dividend — yield 1.24%
- [x] Valuation not extreme — P/E 28.5

## Experience (career milestones)

- **2023** — The first two Directed Energy Maneuver-SHORAD Strykers were delivered in early 2023 for training with soldiers
- **2021** — The first four Stryker M-SHORAD vehicles were deployed to Germany in April 2021 as part of the 5th Battalion, 4th…
- **2020** — Because the unarmored Humvee-based Avenger lacks survivability and range to keep up with maneuver forces and hold…
- **FY2018** — Best year on record: $3.55B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $11.3B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2002** — The Army formally renamed the IAV as the "Stryker" after two unrelated U.S
- **2000** — The service launched the Interim Armored Vehicle competition

## Strengths

- High gross margin (65.3%)
- Strong cash conversion — FCF is 18.2% of revenue
- Interest covered 10.3× by operating earnings

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $17.1B | $1.99B | $2.74B |
| FY2022 | $18.4B | $2.36B | $2.04B |
| FY2023 | $20.5B | $3.17B | $3.14B |
| FY2024 | $22.6B | $2.99B | $3.49B |
| FY2025 | $25.1B | $3.25B | $4.28B |

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Source: https://stockcv.com/SYK — derived from company filings; may be delayed or incomplete. Information, not investment advice.