STRYKER CORP

Listed Company

SYKCIK 0000310764NYSELarge AcceleratedSurgical & Medical Instruments & ApparatusMichiganFY ends Dec 31

Period

FY 2025

Revenue

$25.12B

Net Income

$3.25B

Total Assets

$47.84B

Equity

$22.42B

Shares Out

382.69M

Op. Cash Flow

$5.04B

Business

STRYKER CORP is a global medical technologies company that develops and supplies devices and services to improve patient and healthcare outcomes. It offers surgical equipment and navigation systems, endoscopic and communications systems, patient handling and emergency products, clinical communication and AI-assisted virtual care platforms, neurosurgical and neurovascular devices, joint replacement and trauma implants, robotic-assisted technologies, spinal devices and other specialty medical products. The company operates through two reportable segments: MedSurg and Neurotechnology, and Orthopaedics. Its products are sold worldwide through company-owned subsidiaries, branches, dealers and distributors, primarily marketed to doctors, hospitals and healthcare facilities.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	25,116	22,595	20,498	18,449	17,108
Cost of sales	9,051	8,155	7,440	6,871	6,140
Gross profit	16,065	14,440	13,058	11,578	10,968
Research, development and engineering expenses	1,623	1,466	1,388	1,454	1,235
Selling, general and administrative expenses	8,651	7,685	7,111	6,386	6,427
Amortization of intangible assets	732	623	635	627	619
Goodwill and other impairments	170	977	36	270	—
Total operating expenses	11,176	10,751	9,170	8,737	8,384
Operating income	4,889	3,689	3,888	2,841	2,584
Interest expense	−607	−409	−363	—	—
Other income	232	212	148	−158	−303
Earnings before income taxes	4,514	3,492	3,673	2,683	2,281
Income taxes	1,268	499	508	325	287
Net earnings	3,246	2,993	3,165	2,358	1,994
Basic net earnings per share of common stock (in dollars per share)	8.49	7.86	8.34	6.23	5.29
Diluted net earnings per share of common stock (in dollars per share)	8.4	7.76	8.25	6.17	5.21
Basic (in shares)	382	381	380	378	377
Effect of dilutive employee stock compensation (in shares)	4	5	4	4	5
Diluted (in shares)	387	386	384	382	382

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	4,011	3,652	2,971	1,844	2,944
Short-term investments	0	750	0	—	—
Marketable securities	89	91	82	84	75
Accounts receivable, less allowance of $216 ($213 in 2024)	4,039	3,987	3,765	3,565	3,022
Materials and supplies	1,349	1,147	1,242	1,006	691
Work in process	415	336	330	348	264
Finished goods	3,546	3,291	3,271	2,641	2,359
Total inventories	5,310	4,774	4,843	3,995	3,314
Prepaid expenses and other current assets	1,306	1,593	857	787	662
Total current assets	14,755	14,847	12,518	10,275	10,017
Land, buildings and improvements	1,793	1,627	1,692	1,739	1,656
Machinery and equipment	5,744	5,056	4,652	4,066	3,842
Total property, plant and equipment	7,537	6,683	6,344	5,805	5,498
Less allowance for depreciation	3,661	3,235	3,129	2,835	2,665
Property, plant and equipment, net	3,876	3,448	3,215	2,970	2,833
Goodwill	19,291	15,855	15,243	14,880	12,918
Other intangibles, net	5,681	4,395	4,593	4,885	4,840
Noncurrent deferred income tax assets	1,098	1,742	1,670	1,410	1,760
Other noncurrent assets	3,143	2,684	2,673	2,464	2,263
Total assets	47,844	42,971	39,912	36,884	34,631
Accounts payable	1,799	1,679	1,517	1,413	1,129
Accrued compensation	1,595	1,403	1,478	1,149	1,092
Income taxes	418	539	391	292	192
Dividend payable	337	320	304	284	263
Accrued expenses and other liabilities	2,645	2,266	2,137	1,744	1,465
Current maturities of debt	1,000	1,409	2,094	1,191	7
Total current liabilities	7,794	7,616	7,921	6,303	4,549
Long-term debt, excluding current maturities	14,859	12,188	10,901	11,857	12,472
Income taxes	402	349	567	641	913
Other noncurrent liabilities	2,369	2,184	1,930	1,467	1,820
Total liabilities	25,424	22,337	21,319	20,268	19,754
Common stock, $0.10 par value	38	38	38	38	38
Additional paid-in capital	2,597	2,361	2,200	2,034	1,890
Retained earnings	20,472	18,528	16,771	14,765	13,480
Accumulated other comprehensive loss	−687	−293	−416	−221	−531
Total shareholders' equity	22,420	20,634	18,593	16,616	14,877
Total liabilities & shareholders' equity	47,844	42,971	39,912	36,884	34,631
Common stock, par value (in dollars per share)	0.1	0.1	0.1	0.1	0.1

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	461	427	393	371	371
Amortization of intangible assets	732	623	635	627	619
Share-based compensation	243	229	205	168	171
Sale of inventory stepped up to fair value at acquisition	173	46	0	12	—
Deferred income tax (benefit) expense	392	−370	−206	58	−237
Accounts receivable	127	−321	−175	−579	−377
Inventories	−297	−206	−797	−762	−189
Accounts payable	94	192	77	290	329
Accrued expenses and other liabilities	318	74	516	156	315
Income taxes	−145	−116	−4	−238	−98
Other, net	−470	−306	−134	−107	−47
Net cash provided by operating activities	5,044	4,242	3,711	2,624	3,263
Acquisitions, net of cash acquired	−4,960	−1,628	−390	−2,563	−339
Proceeds/(Purchases) of short-term investments	750	−750	0	—	—
Purchases of property, plant and equipment	−761	−755	−575	−588	−525
Proceeds from the sale of the Spinal Implants business	165	0	0	—	—
Other investing, net	−60	133	3	39	−1
Net cash used in investing activities	−4,866	−3,000	−962	−2,924	−859
Proceeds (payments) on short-term borrowings, net	0	−32	540	−375	−7
Proceeds from issuance of long-term debt	2,979	3,011	1,241	1,500	5
Payments on long-term debt	−1,400	−2,039	−2,058	−653	−1,151
Payments of dividends	−1,284	−1,219	−1,139	−1,051	−950
Cash paid for taxes from withheld shares	−149	−195	−155	−122	−114
Other financing, net	−33	−51	−23	−48	−148
Net cash provided by (used in) financing activities	113	−525	−1,594	−749	−2,365
Effect of exchange rate changes on cash and cash equivalents	68	−36	−28	−51	−38
Change in cash and cash equivalents	359	681	1,127	−1,100	1
Cash paid for income taxes, net of refunds	1,002	989	693	505	622
Cash paid for interest on debt	582	396	356	324	325

Filings

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