Operating Profit Margin
since 2005
Calculation
Stryker Corp., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 15.10% | = | 100 | × | 2,584) | ÷ | 17,108) |
| Dec 31, 2020 | 15.49% | = | 100 | × | 2,223) | ÷ | 14,351) |
| Dec 31, 2019 | 18.23% | = | 100 | × | 2,713) | ÷ | 14,884) |
| Dec 31, 2018 | 18.65% | = | 100 | × | 2,537) | ÷ | 13,601) |
| Dec 31, 2017 | 18.40% | = | 100 | × | 2,290) | ÷ | 12,444) |
| Dec 31, 2016 | 19.13% | = | 100 | × | 2,166) | ÷ | 11,325) |
| Dec 31, 2015 | 18.71% | = | 100 | × | 1,861) | ÷ | 9,946) |
| Dec 31, 2014 | 12.88% | = | 100 | × | 1,246) | ÷ | 9,675) |
| Dec 31, 2013 | 13.92% | = | 100 | × | 1,256) | ÷ | 9,021) |
| Dec 31, 2012 | 20.11% | = | 100 | × | 1,741) | ÷ | 8,657) |
| Dec 31, 2011 | 20.30% | = | 100 | × | 1,686) | ÷ | 8,307) |
| Dec 31, 2010 | 23.93% | = | 100 | × | 1,751) | ÷ | 7,320) |
| Dec 31, 2009 | 23.72% | = | 100 | × | 1,594) | ÷ | 6,723) |
| Dec 31, 2008 | 22.61% | = | 100 | × | 1,519) | ÷ | 6,718) |
| Dec 31, 2007 | 21.79% | = | 100 | × | 1,307) | ÷ | 6,001) |
| Dec 31, 2006 | 19.87% | = | 100 | × | 1,074) | ÷ | 5,406) |
| Dec 31, 2005 | 20.50% | = | 100 | × | 999) | ÷ | 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
The data reveals distinct trends in operating income, net sales, and operating profit margin over the period analyzed.
- Operating Income
- Operating income generally exhibited an upward trajectory from 2005 to 2019, rising from $999 million to a peak of $2713 million. There was a notable decline in 2012-2013, dropping from $1741 million to $1256 million, followed by recovery and consistent growth until 2019. However, in 2020, operating income decreased significantly to $2223 million before rebounding to $2584 million in 2021.
- Net Sales
- Net sales demonstrated steady growth throughout most of the period, increasing from $4872 million in 2005 to $14884 million in 2019. A minor fall occurred in 2020, where sales dropped to $14351 million, before surging sharply to $17108 million in 2021, marking the highest value in the dataset.
- Operating Profit Margin
- The operating profit margin showed variable changes. It increased from 20.5% in 2005 to a peak of 23.93% in 2010, indicating improving profitability. Following 2010, there was a downward trend with some fluctuations, falling sharply to around 13.92% in 2013 and reaching a low of 12.88% in 2014. Afterward, it recovered modestly, stabilizing around 18%-19% from 2015 to 2019. However, the margin contracted again in 2020 and 2021, ending at 15.49% and 15.1%, respectively.
Overall, the company's net sales showed consistent expansion with a temporary dip in 2020 likely influenced by external factors. Operating income followed a similar pattern but experienced more volatility, especially around 2012-2013 and 2020. The operating profit margin improved substantially until 2010 but declined afterward, suggesting increased costs or pricing pressures in the latter years. The declines observed in 2020 across all metrics may reflect adverse conditions, with partial recovery noted by 2021.
Comparison to Competitors
Stryker Corp., operating profit margin, long-term trends, comparison to competitors
| Stryker Corp. | Abbott Laboratories | CVS Health Corp. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 15.10% | 19.56% | 4.54% | 31.89% | 14.89% | 8.40% |
| Dec 31, 2020 | 15.49% | 15.48% | 5.19% | 24.09% | 16.57% | 8.76% |
| Dec 31, 2019 | 18.23% | 14.21% | 4.69% | 30.69% | 20.51% | 8.19% |
| Dec 31, 2018 | 18.65% | 11.94% | 2.07% | 32.21% | 22.20% | 7.71% |
| Dec 31, 2017 | 18.40% | 6.30% | 5.15% | 33.71% | 17.94% | 7.60% |
| Dec 31, 2016 | 19.13% | 15.27% | 5.84% | 34.95% | 18.35% | 7.03% |
| Dec 31, 2015 | 18.71% | 14.05% | 6.18% | 31.04% | 18.59% | 7.05% |
| Dec 31, 2014 | 12.88% | 12.84% | 6.31% | 25.56% | 22.42% | 7.92% |
| Dec 31, 2013 | 13.92% | 12.03% | 6.34% | 37.64% | 26.53% | 7.90% |
| Dec 31, 2012 | 20.11% | 20.28% | 5.87% | 40.30% | 0.00% | 8.42% |
| Dec 31, 2011 | 20.30% | 14.81% | 5.91% | 39.54% | 0.00% | 8.36% |
| Dec 31, 2010 | 23.93% | 17.31% | 6.39% | 39.29% | 0.00% | 8.41% |
| Dec 31, 2009 | 23.72% | 20.27% | 6.52% | 35.87% | 0.00% | 7.35% |
| Dec 31, 2008 | 22.61% | 19.28% | 6.91% | 35.53% | 0.00% | 6.54% |
| Dec 31, 2007 | 21.79% | 17.67% | 6.28% | 34.41% | 0.00% | 10.57% |
| Dec 31, 2006 | 19.87% | 9.09% | 5.57% | 28.81% | 0.00% | 9.88% |
| Dec 31, 2005 | 20.50% | 19.53% | 5.46% | 30.25% | 0.00% | 11.98% |
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).