Net Profit Margin
since 2005
Calculation
Stryker Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net earnings1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 11.66% | = | 100 | × | 1,994) | ÷ | 17,108) |
| Dec 31, 2020 | 11.14% | = | 100 | × | 1,599) | ÷ | 14,351) |
| Dec 31, 2019 | 13.99% | = | 100 | × | 2,083) | ÷ | 14,884) |
| Dec 31, 2018 | 26.12% | = | 100 | × | 3,553) | ÷ | 13,601) |
| Dec 31, 2017 | 8.20% | = | 100 | × | 1,020) | ÷ | 12,444) |
| Dec 31, 2016 | 14.54% | = | 100 | × | 1,647) | ÷ | 11,325) |
| Dec 31, 2015 | 14.47% | = | 100 | × | 1,439) | ÷ | 9,946) |
| Dec 31, 2014 | 5.32% | = | 100 | × | 515) | ÷ | 9,675) |
| Dec 31, 2013 | 11.15% | = | 100 | × | 1,006) | ÷ | 9,021) |
| Dec 31, 2012 | 14.99% | = | 100 | × | 1,298) | ÷ | 8,657) |
| Dec 31, 2011 | 16.19% | = | 100 | × | 1,345) | ÷ | 8,307) |
| Dec 31, 2010 | 17.40% | = | 100 | × | 1,273) | ÷ | 7,320) |
| Dec 31, 2009 | 16.47% | = | 100 | × | 1,107) | ÷ | 6,723) |
| Dec 31, 2008 | 17.08% | = | 100 | × | 1,148) | ÷ | 6,718) |
| Dec 31, 2007 | 16.96% | = | 100 | × | 1,017) | ÷ | 6,001) |
| Dec 31, 2006 | 14.39% | = | 100 | × | 778) | ÷ | 5,406) |
| Dec 31, 2005 | 13.86% | = | 100 | × | 675) | ÷ | 4,872) |
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
Between 2005 and 2021, the financial trajectory was characterized by consistent growth in net sales contrasted with significant volatility in net profit margins. While revenue expanded from 4,872 million US dollars in 2005 to 17,108 million US dollars in 2021, the conversion of these sales into net earnings fluctuated across several distinct cycles.
- Net Sales Growth
- A sustained upward trend in net sales is observed throughout the analyzed period. Revenue increased steadily from 2005, with only a marginal contraction observed in 2020, indicating a robust and consistent expansion of the top-line business.
- Profit Margin Volatility and Troughs
- The net profit margin exhibited considerable instability, notably between 2011 and 2014. After maintaining a range between 13.86% and 17.40% from 2005 to 2010, the margin entered a decline, reaching a period low of 5.32% in 2014. This decline was driven by a sharp drop in net earnings to 515 million US dollars, occurring despite the continued growth in net sales.
- Exceptional Earnings Peak
- A significant outlier is observed in 2018, where the net profit margin spiked to 26.12%. This coincides with a peak in net earnings of 3,553 million US dollars, marking the highest profitability level in the provided timeline and representing a substantial deviation from the surrounding years.
- Recent Margin Stabilization
- Following the 2018 peak, a period of normalization is evident. From 2019 to 2021, net profit margins stabilized within a narrower band, ranging from 11.14% to 13.99%. This suggests a return to a more consistent operational profit profile following the volatility experienced in the previous decade.
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Comparison to Competitors
Stryker Corp., net profit margin, long-term trends, comparison to competitors
| Stryker Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 11.66% | 16.42% | 4.46% | 29.85% | 11.97% | 6.06% |
| Dec 31, 2020 | 11.14% | 12.99% | 3.78% | 24.33% | 16.56% | 6.03% |
| Dec 31, 2019 | 13.99% | 11.56% | 4.66% | 30.80% | 15.16% | 5.76% |
| Dec 31, 2018 | 26.12% | 7.74% | 4.11% | 30.29% | 10.36% | 5.33% |
| Dec 31, 2017 | 8.20% | 1.74% | 4.31% | 21.09% | 13.56% | 5.28% |
| Dec 31, 2016 | 14.54% | 6.71% | 2.93% | 27.21% | 12.27% | 3.81% |
| Dec 31, 2015 | 14.47% | 21.68% | 3.27% | 24.69% | 13.20% | 3.72% |
| Dec 31, 2014 | 5.32% | 11.28% | 3.52% | 19.65% | 18.02% | 4.33% |
| Dec 31, 2013 | 11.15% | 11.79% | 3.55% | 29.62% | 20.90% | 4.62% |
| Dec 31, 2012 | 14.99% | 14.95% | 4.37% | 30.14% | 22.35% | 5.03% |
| Dec 31, 2011 | 16.19% | 12.17% | 4.42% | 28.17% | 19.43% | 5.08% |
| Dec 31, 2010 | 17.40% | 13.15% | 4.99% | 27.02% | 19.59% | 4.95% |
| Dec 31, 2009 | 16.47% | 18.68% | 7.80% | 22.11% | 14.86% | 4.42% |
| Dec 31, 2008 | 17.08% | 16.53% | 4.04% | 23.35% | 16.51% | 3.70% |
| Dec 31, 2007 | 16.96% | 13.92% | 5.56% | 24.06% | 22.78% | 6.26% |
| Dec 31, 2006 | 14.39% | 7.64% | 5.52% | 19.33% | 22.55% | 5.89% |
| Dec 31, 2005 | 13.86% | 15.10% | 5.53% | 41.41% | 17.94% | 7.36% |
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., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Stryker Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 11.66% | 7.14% |
| Dec 31, 2020 | 11.14% | 6.82% |
| Dec 31, 2019 | 13.99% | 6.91% |
| Dec 31, 2018 | 26.12% | 5.87% |
| Dec 31, 2017 | 8.20% | 5.60% |
| Dec 31, 2016 | 14.54% | 4.73% |
| Dec 31, 2015 | 14.47% | 5.78% |
| Dec 31, 2014 | 5.32% | 5.76% |
| Dec 31, 2013 | 11.15% | 6.37% |
| Dec 31, 2012 | 14.99% | 8.05% |
| Dec 31, 2011 | 16.19% | 7.40% |
| Dec 31, 2010 | 17.40% | 7.67% |
| Dec 31, 2009 | 16.47% | 8.63% |
| Dec 31, 2008 | 17.08% | 6.88% |
| Dec 31, 2007 | 16.96% | 8.40% |
| Dec 31, 2006 | 14.39% | 7.20% |
| Dec 31, 2005 | 13.86% | 9.04% |
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., net profit margin, long-term trends, comparison to industry (health care)
| Stryker Corp. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 11.66% | 15.24% |
| Dec 31, 2020 | 11.14% | 10.27% |
| Dec 31, 2019 | 13.99% | 14.56% |
| Dec 31, 2018 | 26.12% | 12.61% |
| Dec 31, 2017 | 8.20% | 9.26% |
| Dec 31, 2016 | 14.54% | 12.80% |
| Dec 31, 2015 | 14.47% | 13.94% |
| Dec 31, 2014 | 5.32% | 14.40% |
| Dec 31, 2013 | 11.15% | 15.04% |
| Dec 31, 2012 | 14.99% | 13.92% |
| Dec 31, 2011 | 16.19% | 12.06% |
| Dec 31, 2010 | 17.40% | 11.90% |
| Dec 31, 2009 | 16.47% | 17.77% |
| Dec 31, 2008 | 17.08% | 13.00% |
| Dec 31, 2007 | 16.96% | 12.52% |
| Dec 31, 2006 | 14.39% | 15.30% |
| Dec 31, 2005 | 13.86% | 14.61% |
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).