Stryker (SYK)
Forward P/E is 19.05x against a peer median of 15.90x, a ratio of 1.20x — above the fair range — with trailing P/E 31.42x and PEG 1.78. Latest-quarter revenue grew 9.4% year over year (PRIMARY, EDGAR), above the group pace but not far enough above it, and the PEG is above 1.5, so the growth exception does not apply. Delivered demand check: the medical devices & equipment group's median growth was 7.8% — demand steady, and Stryker grows a little faster than that, but not enough to pay for the premium.
What would change this label: Move to FAIRLY PRICED if the forward P/E compresses to about 18.3x or below (1.15x the peer median) at unchanged estimates, or if revenue growth rises above 12% year over year for two quarters with the PEG falling to about 1.5 or below. Move further from fair value if growth falls below 5% year over year while the forward multiple stays above 19x.
Stryker makes artificial joints, surgical tools and hospital equipment. Its shares cost about 19 times expected earnings, more than similar companies at about 16 times, while its sales grow only a little faster than theirs. You pay a clear premium for growth that is only slightly better — the shares look overvalued.
Both lines start at 100 on 2020-09-01. Over the full window Stryker returned +52.21% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Stryker: -33.1% (2025-07-25 to 2026-09-24). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 19.05x against a peer median of 15.90x, a ratio of 1.20x — above the fair range — with trailing P/E 31.42x and PEG 1.78. Latest-quarter revenue grew 9.4% year over year (PRIMARY, EDGAR), above the group pace but not far enough above it, and the PEG is above 1.5, so the growth exception does not apply. Delivered demand check: the medical devices & equipment group's median growth was 7.8% — demand steady, and Stryker grows a little faster than that, but not enough to pay for the premium. The company’s forward P/E is 19.1× against a peer median of 15.9×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the medical devices & equipment group's median latest-quarter revenue growth was 7.8% year over year (SEC filings) — demand steady. Stryker grew 9.4%, a little faster than that pace. Latest-quarter sales growth was +9.4% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Stryker (SYK) | $303.21 | 19.1× | 31.4× |
| MDT | $95.48 | 15.9× | 23.5× |
| ISRG | $447.84 | 37.1× | 54.1× |
| BSX | $42.11 | 12.7× | 17.8× |
| BDX | $196.07 | 14.8× | 58.9× |
| EW | $91.93 | 28.9× | 53.5× |
| Peer median | 15.9× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jun 2026 2026-06-30 | $6.6B | 68.3% | $1.3B | 3.30 | $1.1B |
| Q/E Mar 2026 2026-03-31 | $6.0B | 63.3% | $745M | 1.93 | $415M |
| Q/E Dec 2025 2025-12-31 | $7.2B | 64.5% | $849M | 2.20 | $1.9B |
| Q/E Sep 2025 2025-09-30 | $6.1B | 63.6% | $859M | 2.22 | $1.4B |
| Q/E Jun 2025 2025-06-30 | $6.0B | 63.8% | $884M | 2.29 | $928M |
| Q/E Mar 2025 2025-03-31 | $5.9B | 63.8% | $654M | 1.69 | $127M |
| Q/E Dec 2024 2024-12-31 | $6.4B | 64.8% | $546M | 1.41 | $1.7B |
| Q/E Sep 2024 2024-09-30 | $5.5B | 64.0% | $834M | 2.16 | $1.3B |
| Q/E Jun 2024 2024-06-30 | $5.4B | 63.0% | $825M | 2.14 | $481M |
| Q/E Mar 2024 2024-03-31 | $5.2B | 63.6% | $788M | 2.05 | $37M |
| Q/E Dec 2023 2023-12-31 | $5.8B | 63.7% | $1.1B | 2.98 | $1.4B |
| Q/E Sep 2023 2023-09-30 | $4.9B | 64.3% | $692M | 1.80 | $902M |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | STRYKER CORP |
| Chief executive | Kevin A. Lobo (source: https://en.wikipedia.org/wiki/Stryker_Corporation) |
| Sector | Health Care — Health Care Equipment — sells artificial joints, surgical equipment and other medical devices to hospitals |
| Share price (Oct 28, 2026) | $303.21 |
| Market value (market cap) | $115.6B — share price times shares outstanding of 383,573,046 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $25.8B |
| Net income, last twelve months | $3.7B |
| Free cash flow, last twelve months | $4.7B |
| Latest reported quarter | Q/E Jun 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | +52.21% vs +118.28% |
| Worst peak-to-trough fall | -33.1% (2025-07-25 to 2026-09-24) |
What we could not verify
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- CEO transition announced: Spencer Stiles to succeed Kevin A. Lobo as CEO on Jan 1, 2027; Lobo remains CEO through Dec 31, 2026.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000310764.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000310764.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/SYK/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.