Total Asset Turnover
since 2005
Calculation
Stryker Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 0.49 | = | 17,108) | ÷ | 34,631) |
| Dec 31, 2020 | 0.42 | = | 14,351) | ÷ | 34,330) |
| Dec 31, 2019 | 0.49 | = | 14,884) | ÷ | 30,167) |
| Dec 31, 2018 | 0.50 | = | 13,601) | ÷ | 27,229) |
| Dec 31, 2017 | 0.56 | = | 12,444) | ÷ | 22,197) |
| Dec 31, 2016 | 0.55 | = | 11,325) | ÷ | 20,435) |
| Dec 31, 2015 | 0.61 | = | 9,946) | ÷ | 16,247) |
| Dec 31, 2014 | 0.55 | = | 9,675) | ÷ | 17,713) |
| Dec 31, 2013 | 0.57 | = | 9,021) | ÷ | 15,743) |
| Dec 31, 2012 | 0.66 | = | 8,657) | ÷ | 13,206) |
| Dec 31, 2011 | 0.67 | = | 8,307) | ÷ | 12,405) |
| Dec 31, 2010 | 0.67 | = | 7,320) | ÷ | 10,895) |
| Dec 31, 2009 | 0.74 | = | 6,723) | ÷ | 9,071) |
| Dec 31, 2008 | 0.88 | = | 6,718) | ÷ | 7,603) |
| Dec 31, 2007 | 0.82 | = | 6,001) | ÷ | 7,354) |
| Dec 31, 2006 | 0.92 | = | 5,406) | ÷ | 5,874) |
| Dec 31, 2005 | 0.99 | = | 4,872) | ÷ | 4,944) |
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 financial performance from 2005 to 2021 is characterized by substantial growth in scale accompanied by a progressive decline in asset efficiency. While net sales grew by approximately 251% over the period, the total asset base expanded at a significantly higher rate of approximately 600%, resulting in a persistent reduction in the total asset turnover ratio.
- Revenue Trajectory
- Net sales exhibited a consistent upward trend, rising from 4,872 million USD in 2005 to 17,108 million USD by 2021. Growth remained steady throughout the duration of the analysis, with a minor contraction observed in 2020 followed by a sharp recovery in 2021.
- Asset Accumulation
- Total assets grew aggressively from 4,944 million USD in 2005 to 34,631 million USD in 2021. This expansion indicates a significant increase in the company's resource base, though the growth in assets consistently outpaced the growth in sales revenue.
- Asset Turnover Efficiency
- A long-term downward trend is observed in the total asset turnover ratio, which decreased from 0.99 in 2005 to 0.49 in 2021. The ratio experienced a notable decline in the first decade, moving from nearly 1.00 to 0.55 by 2014, suggesting a diminishing return on every dollar of assets employed to generate sales.
- Recent Performance Volatility
- The lowest efficiency point was reached in 2020, with the turnover ratio falling to 0.42. This coincided with a period where total assets continued to climb to 34,330 million USD while net sales experienced a temporary decline to 14,351 million USD. A partial recovery to 0.49 was recorded in 2021 as sales rebounded to 17,108 million USD.
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Comparison to Competitors
Stryker Corp., total asset turnover, long-term trends, comparison to competitors
| Stryker Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2021 | 0.49 | 0.57 | 1.41 | 0.42 | 0.32 | 1.34 |
| Dec 31, 2020 | 0.42 | 0.48 | 1.39 | 0.39 | 0.32 | 1.30 |
| Dec 31, 2019 | 0.49 | 0.47 | 1.33 | 0.46 | 0.34 | 1.38 |
| Dec 31, 2018 | 0.50 | 0.46 | 1.28 | 0.47 | 0.33 | 1.48 |
| Dec 31, 2017 | 0.56 | 0.36 | 1.26 | 0.54 | 0.30 | 1.44 |
| Dec 31, 2016 | 0.55 | 0.40 | 1.29 | 0.42 | 0.29 | 1.50 |
| Dec 31, 2015 | 0.61 | 0.49 | 1.27 | 0.49 | 0.19 | 1.40 |
| Dec 31, 2014 | 0.55 | 0.49 | 1.18 | 0.54 | 0.45 | 1.50 |
| Dec 31, 2013 | 0.57 | 0.51 | 1.18 | 0.57 | 0.48 | 1.49 |
| Dec 31, 2012 | 0.66 | 0.59 | 1.03 | 0.54 | 0.49 | 1.36 |
| Dec 31, 2011 | 0.67 | 0.64 | 1.15 | 0.57 | 0.52 | 1.49 |
| Dec 31, 2010 | 0.67 | 0.59 | 1.15 | 0.59 | 0.56 | 1.48 |
| Dec 31, 2009 | 0.74 | 0.59 | 1.17 | 0.58 | 0.62 | 1.47 |
| Dec 31, 2008 | 0.88 | 0.70 | 1.27 | 0.59 | 0.61 | 1.44 |
| Dec 31, 2007 | 0.82 | 0.65 | 1.15 | 0.58 | 0.63 | 1.46 |
| Dec 31, 2006 | 0.92 | 0.62 | 1.08 | 0.55 | 0.57 | 1.46 |
| Dec 31, 2005 | 0.99 | 0.77 | 0.87 | 0.45 | 0.61 | 1.08 |
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., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Stryker Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2021 | 0.49 | 1.02 |
| Dec 31, 2020 | 0.42 | 0.97 |
| Dec 31, 2019 | 0.49 | 0.98 |
| Dec 31, 2018 | 0.50 | 0.98 |
| Dec 31, 2017 | 0.56 | 0.89 |
| Dec 31, 2016 | 0.55 | 0.92 |
| Dec 31, 2015 | 0.61 | 0.85 |
| Dec 31, 2014 | 0.55 | 1.05 |
| Dec 31, 2013 | 0.57 | 1.04 |
| Dec 31, 2012 | 0.66 | 0.94 |
| Dec 31, 2011 | 0.67 | 1.02 |
| Dec 31, 2010 | 0.67 | 1.00 |
| Dec 31, 2009 | 0.74 | 1.03 |
| Dec 31, 2008 | 0.88 | 1.09 |
| Dec 31, 2007 | 0.82 | 1.06 |
| Dec 31, 2006 | 0.92 | 1.03 |
| Dec 31, 2005 | 0.99 | 0.88 |
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., total asset turnover, long-term trends, comparison to industry (health care)
| Stryker Corp. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 0.49 | 0.62 |
| Dec 31, 2020 | 0.42 | 0.57 |
| Dec 31, 2019 | 0.49 | 0.57 |
| Dec 31, 2018 | 0.50 | 0.63 |
| Dec 31, 2017 | 0.56 | 0.56 |
| Dec 31, 2016 | 0.55 | 0.57 |
| Dec 31, 2015 | 0.61 | 0.55 |
| Dec 31, 2014 | 0.55 | 0.60 |
| Dec 31, 2013 | 0.57 | 0.58 |
| Dec 31, 2012 | 0.66 | 0.58 |
| Dec 31, 2011 | 0.67 | 0.61 |
| Dec 31, 2010 | 0.67 | 0.61 |
| Dec 31, 2009 | 0.74 | 0.55 |
| Dec 31, 2008 | 0.88 | 0.73 |
| Dec 31, 2007 | 0.82 | 0.71 |
| Dec 31, 2006 | 0.92 | 0.69 |
| Dec 31, 2005 | 0.99 | 0.66 |
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).