Reading the tape
NYSE: SYK
Stryker Corporation
Healthcare · Medical - Devices
Market Cap
$111.40B
52w High
$404.87
52w Low
$290.23
P/E
33.38
Volume
3.09M
Outstanding Shares
382.98M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
1Y Price: -23.73%Revenue (TTM): 8.84%FCF (TTM): 27.79%P/FCF: 0th pct
What changed
The stock fell 23.73% over the last year. Revenue grew 8.84% over the trailing twelve months. Operating margin moved from 22.43% to 21.34%. Free cash flow grew 27.79% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 21.34%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Stryker Corporation operates as a medical technology company.
CEOKevin A. Lobo
SectorHealthcare
IndustryMedical - Devices
Employees53,000
IPO dateMar 17, 1980
Valuation
Forward P/E—
EV/EBITDA22.99
Enterprise value$145.18B
Stock splits
May 17, 2004↑ Forward
Every 1 shares became 2
May 15, 2000↑ Forward
Every 1 shares became 2
Jun 11, 1996↑ Forward
Every 1 shares became 2
Jun 14, 1991↑ Forward
Every 1 shares became 2
Jun 20, 1989↑ Forward
Every 2 shares became 3
Jun 12, 1987↑ Forward
Every 1 shares became 2
Sep 17, 1985↑ Forward
Every 2 shares became 3
Nov 15, 1982↑ Forward
Every 2 shares became 3
Profitability & growth
Revenue growth2.63%
Gross margin63.67%▲3.38%vs FY2024
Operating margin21.34%▼13.09%vs FY2024
ROE14.48%▼0.19%vs FY2024
Analyst consensus
RatingBuy
Target price$389.62▲33.95%
36
Buy
14
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 30, 2026
Q3 FY26 · EPS est $3.47 · Revenue est $6.58B
View
Dividends
$3.44/shareQuarterlyDividend Achiever · 15yrSafeSYK pays a dividend with a 1.18% dividend yield, 15 consecutive years of growth, growing at 7.38% annually, covered 3.3× by free cash flow.
Dividend Yield
1.18%
Annual Div / Share
$3.44
5yr CAGR
+7.38%
Doubles every ~9.7yr
Payout Ratio
38.99%
Safe
Dividend Growth Rate
3yr CAGR
+5.98%
5yr CAGR
+7.38%
10yr CAGR
+9.02%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$3.44+4.9%
2024$3.28+5.8%
2023$3.10+7.3%
2022$2.89+9.1%
2021$2.65+10.0%
2020$2.41+10.0%
2019$2.19+10.6%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$12/yr
$1/mo
In 5 yrs
$17/yr+43%
$1/mo
In 10 yrs
$24/yr+104%
$2/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$12/yr $1/mo | $17/yr+43% $1/mo | $24/yr+104% $2/mo |
Yield-on-cost grows from 1.18% → 2.41% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
SYK has raised its dividend for 15 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 3.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 7.38% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.