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Intrinsic Value of Stryker Corporation (SYK)

Previous Close$265.87
Intrinsic Value
Upside potential
Previous Close
$265.87

VALUATION INPUT DATA

This valuation is based on fiscal year data as of 2022-12-31 and quarterly data as of 2023-06-30.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2022(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %7.8NaN
Revenue, $18449NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m15608NaN
Operating income, $m2841NaN
EBITDA, $m3839NaN
Interest expense (income), $mNaN
Earnings before tax, $m2683NaN
Tax expense, $m325NaN
Net income, $m2358NaN

BALANCE SHEET

Cash and short-term investments, $m1928NaN
Total assets, $m36884NaN
Adjusted assets (=assets-cash), $m34956NaN
Average production assets, $m21663NaN
Working capital, $m3972NaN
Total debt, $m13048NaN
Total liabilities, $m20268NaN
Total equity, $m16616NaN
Debt-to-equity ratio0.785NaN
Adjusted equity ratio0.454NaN

CASH FLOW

Net income, $m2358NaN
Depreciation, amort., depletion, $m998NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m2624NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-588NaN
Free cash flow, $m3212NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m3972
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN

Company description

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies. The MedSurg and Neurotechnology segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties. This segment also provides neurotechnology products, which include products used for minimally invasive endovascular techniques; products for brain and open skull based surgical procedures; orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products; minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke; and craniomaxillofacial implant products, including cranial, maxillofacial, and chest wall devices, as well as dural substitutes and sealants. 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 75 countries. Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan.
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