Current Ratio
since 2005
Calculation
Stryker Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 2.20 | = | 10,017) | ÷ | 4,549) |
| Dec 31, 2020 | 1.93 | = | 9,707) | ÷ | 5,041) |
| Dec 31, 2019 | 2.58 | = | 11,360) | ÷ | 4,400) |
| Dec 31, 2018 | 2.02 | = | 9,733) | ÷ | 4,807) |
| Dec 31, 2017 | 2.29 | = | 7,993) | ÷ | 3,485) |
| Dec 31, 2016 | 2.50 | = | 7,861) | ÷ | 3,148) |
| Dec 31, 2015 | 2.27 | = | 7,944) | ÷ | 3,503) |
| Dec 31, 2014 | 2.17 | = | 9,673) | ÷ | 4,464) |
| Dec 31, 2013 | 3.14 | = | 8,335) | ÷ | 2,657) |
| Dec 31, 2012 | 4.34 | = | 8,148) | ÷ | 1,876) |
| Dec 31, 2011 | 3.94 | = | 7,211) | ÷ | 1,828) |
| Dec 31, 2010 | 4.75 | = | 7,631) | ÷ | 1,605) |
| Dec 31, 2009 | 4.06 | = | 5,851) | ÷ | 1,441) |
| Dec 31, 2008 | 3.41 | = | 4,979) | ÷ | 1,462) |
| Dec 31, 2007 | 3.68 | = | 4,905) | ÷ | 1,333) |
| Dec 31, 2006 | 2.62 | = | 3,534) | ÷ | 1,352) |
| Dec 31, 2005 | 2.30 | = | 2,870) | ÷ | 1,249) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity position of the entity exhibited significant volatility and a general transition from an extremely high liquidity cushion to a more normalized operational level between 2005 and 2021. While current assets grew substantially over the period, a corresponding increase in current liabilities moderated the current ratio.
- Current Asset Growth
- Current assets demonstrated a consistent long-term upward trajectory, increasing from 2,870 million USD in 2005 to 10,017 million USD by 2021. A period of rapid expansion occurred between 2005 and 2010, followed by a period of relative stabilization between 2015 and 2017, and a peak of 11,360 million USD in 2019.
- Current Liability Dynamics
- Current liabilities remained relatively stable between 2005 and 2012, fluctuating between 1,249 million USD and 1,876 million USD. A significant shift occurred in 2014, where liabilities spiked to 4,464 million USD, representing a sharp increase in short-term obligations. Liabilities continued to trend upward over the subsequent years, reaching a peak of 5,041 million USD in 2020.
- Current Ratio Analysis
- The current ratio experienced three distinct phases. From 2005 to 2010, there was a marked increase in liquidity, with the ratio rising from 2.30 to a peak of 4.75. This suggests a period of highly conservative liquidity management or significant asset accumulation. A subsequent correction occurred between 2011 and 2014, with the ratio dropping to 2.17. From 2015 through 2021, the ratio stabilized, fluctuating within a tighter range between 1.93 and 2.58.
The overall trend indicates that while the absolute volume of liquid assets has increased, the entity has shifted toward a leaner liquidity structure. The current ratio remained above 1.90 throughout the entire period, suggesting that short-term solvency was maintained despite the increase in short-term liabilities.
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Comparison to Competitors
Stryker Corp., current ratio, long-term trends, comparison to competitors
| Stryker Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 2.20 | 1.85 | 1.47 | 5.08 | 2.65 | 0.79 |
| Dec 31, 2020 | 1.93 | 1.72 | 1.55 | 6.86 | 2.13 | 0.74 |
| Dec 31, 2019 | 2.58 | 1.44 | 1.65 | 4.53 | 2.59 | 0.69 |
| Dec 31, 2018 | 2.02 | 1.62 | 1.56 | 5.28 | 2.28 | 0.73 |
| Dec 31, 2017 | 2.29 | 2.26 | 1.55 | 3.99 | 1.75 | 0.73 |
| Dec 31, 2016 | 2.50 | 4.02 | 1.61 | 5.45 | 3.29 | 0.69 |
| Dec 31, 2015 | 2.27 | 1.54 | 1.62 | 4.46 | 3.36 | 0.74 |
| Dec 31, 2014 | 2.17 | 1.45 | 1.72 | 3.69 | 3.82 | 0.77 |
| Dec 31, 2013 | 3.14 | 2.02 | 1.82 | 5.07 | 4.57 | 0.73 |
| Dec 31, 2012 | 4.34 | 2.36 | 1.78 | 4.71 | 1.62 | 0.78 |
| Dec 31, 2011 | 3.94 | 1.54 | 1.71 | 4.57 | 1.93 | 0.85 |
| Dec 31, 2010 | 4.75 | 1.29 | 1.87 | 4.66 | 1.92 | 0.78 |
| Dec 31, 2009 | 4.06 | 1.79 | 1.91 | 4.18 | 2.37 | 0.82 |
| Dec 31, 2008 | 3.41 | 1.47 | 0.81 | 4.28 | 2.07 | 0.76 |
| Dec 31, 2007 | 3.68 | 1.54 | 0.91 | 4.63 | 3.09 | 0.84 |
| Dec 31, 2006 | 2.62 | 0.94 | 0.77 | 4.64 | 2.36 | 0.87 |
| Dec 31, 2005 | 2.30 | 1.54 | 1.75 | 3.60 | 2.20 | 0.64 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Stryker Corp., current ratio, long-term trends, comparison to sector (health care equipment & services)
| Stryker Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 2.20 | 1.22 |
| Dec 31, 2020 | 1.93 | 1.19 |
| Dec 31, 2019 | 2.58 | 1.17 |
| Dec 31, 2018 | 2.02 | 1.21 |
| Dec 31, 2017 | 2.29 | 1.24 |
| Dec 31, 2016 | 2.50 | 1.43 |
| Dec 31, 2015 | 2.27 | 1.36 |
| Dec 31, 2014 | 2.17 | 1.43 |
| Dec 31, 2013 | 3.14 | 1.54 |
| Dec 31, 2012 | 4.34 | 1.47 |
| Dec 31, 2011 | 3.94 | 1.36 |
| Dec 31, 2010 | 4.75 | 1.29 |
| Dec 31, 2009 | 4.06 | 1.46 |
| Dec 31, 2008 | 3.41 | 1.04 |
| Dec 31, 2007 | 3.68 | 1.14 |
| Dec 31, 2006 | 2.62 | 0.99 |
| Dec 31, 2005 | 2.30 | 1.31 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Stryker Corp., current ratio, long-term trends, comparison to industry (health care)
| Stryker Corp. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 2.20 | 1.31 |
| Dec 31, 2020 | 1.93 | 1.30 |
| Dec 31, 2019 | 2.58 | 1.48 |
| Dec 31, 2018 | 2.02 | 1.52 |
| Dec 31, 2017 | 2.29 | 1.55 |
| Dec 31, 2016 | 2.50 | 1.73 |
| Dec 31, 2015 | 2.27 | 1.70 |
| Dec 31, 2014 | 2.17 | 1.92 |
| Dec 31, 2013 | 3.14 | 1.96 |
| Dec 31, 2012 | 4.34 | 1.84 |
| Dec 31, 2011 | 3.94 | 1.94 |
| Dec 31, 2010 | 4.75 | 1.81 |
| Dec 31, 2009 | 4.06 | 1.78 |
| Dec 31, 2008 | 3.41 | 1.44 |
| Dec 31, 2007 | 3.68 | 1.53 |
| Dec 31, 2006 | 2.62 | 1.39 |
| Dec 31, 2005 | 2.30 | 1.63 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).