Stryker Corp. (SYK)


Analysis of Solvency Ratios
Quarterly Data

Beginner level


Solvency Ratios (Summary)

Stryker Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Debt Ratios
Debt to equity 0.87 0.68 0.71 0.72 0.84 0.73 0.76 0.86 0.72 0.69 0.73 0.74 0.72 0.73 0.84 0.85 0.47 0.41 0.41 0.42
Debt to capital 0.46 0.41 0.42 0.42 0.46 0.42 0.43 0.46 0.42 0.41 0.42 0.43 0.42 0.42 0.46 0.46 0.32 0.29 0.29 0.30
Debt to assets 0.37 0.32 0.32 0.33 0.36 0.33 0.33 0.36 0.33 0.34 0.35 0.35 0.34 0.34 0.37 0.38 0.25 0.22 0.21 0.21
Financial leverage 2.36 2.16 2.21 2.22 2.32 2.24 2.28 2.40 2.23 2.06 2.12 2.11 2.14 2.16 2.26 2.23 1.91 1.88 1.98 1.99

Based on: 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Stryker Corp.’s debt to equity ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Stryker Corp.’s debt to capital ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Stryker Corp.’s debt to assets ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Stryker Corp.’s financial leverage ratio decreased from Q2 2019 to Q3 2019 but then increased from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Debt to Equity

Stryker Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Current maturities of debt 859  526  539  521  1,373  1,275  1,277  1,984  632  632  774  35  228  135  927  770  769  971  227  225 
Long-term debt, excluding current maturities 10,231  7,889  7,974  7,950  8,486  5,928  5,925  5,920  6,590  6,593  6,592  7,184  6,686  6,713  6,717  6,706  3,253  2,511  3,242  3,257 
Total debt 11,090  8,415  8,513  8,471  9,859  7,203  7,202  7,904  7,222  7,225  7,366  7,219  6,914  6,848  7,644  7,476  4,022  3,482  3,469  3,482 
 
Total Stryker shareholders’ equity 12,807  12,315  11,943  11,693  11,730  9,860  9,460  9,214  9,966  10,425  10,035  9,704  9,550  9,332  9,098  8,808  8,511  8,484  8,505  8,321 
Solvency Ratio
Debt to equity1 0.87 0.68 0.71 0.72 0.84 0.73 0.76 0.86 0.72 0.69 0.73 0.74 0.72 0.73 0.84 0.85 0.47 0.41 0.41 0.42
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co. 0.92 0.94 0.97 0.98 1.02 1.04 1.08 1.07 1.46 1.51 1.29 1.45 1.51 1.48 1.63 1.77 1.79 1.82 1.93 2.00
Boston Scientific Corp. 1.12 1.01 1.00 0.81 0.80 0.84 0.82 0.80 0.75 0.81 0.78 0.81 0.84 0.87 0.88 0.90 0.91 0.78 0.66
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.51 0.50 0.50 0.50 0.51 0.57 0.56 0.67 0.66 0.65 0.65 0.63 0.60 0.71 0.69 0.67 0.68 1.43 0.70 0.67
Thermo Fisher Scientific Inc. 0.58 0.66 0.66 0.69 0.70 0.73 0.80 0.83 0.89 0.75 0.78 0.77 0.87 0.67 0.72 0.59 0.64 0.68 0.75
UnitedHealth Group Inc. 0.71 0.82 0.80 0.74 0.71 0.67 0.73 0.75 0.66 0.65 0.74 0.81 0.86 0.88 0.91 0.96 0.95 0.96 0.55 0.58

Based on: 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q4 2019 Calculation
Debt to equity = Total debt ÷ Total Stryker shareholders’ equity
= 11,090 ÷ 12,807 = 0.87

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Stryker Corp.’s debt to equity ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.

Debt to Capital

Stryker Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Current maturities of debt 859  526  539  521  1,373  1,275  1,277  1,984  632  632  774  35  228  135  927  770  769  971  227  225 
Long-term debt, excluding current maturities 10,231  7,889  7,974  7,950  8,486  5,928  5,925  5,920  6,590  6,593  6,592  7,184  6,686  6,713  6,717  6,706  3,253  2,511  3,242  3,257 
Total debt 11,090  8,415  8,513  8,471  9,859  7,203  7,202  7,904  7,222  7,225  7,366  7,219  6,914  6,848  7,644  7,476  4,022  3,482  3,469  3,482 
Total Stryker shareholders’ equity 12,807  12,315  11,943  11,693  11,730  9,860  9,460  9,214  9,966  10,425  10,035  9,704  9,550  9,332  9,098  8,808  8,511  8,484  8,505  8,321 
Total capital 23,897  20,730  20,456  20,164  21,589  17,063  16,662  17,118  17,188  17,650  17,401  16,923  16,464  16,180  16,742  16,284  12,533  11,966  11,974  11,803 
Solvency Ratio
Debt to capital1 0.46 0.41 0.42 0.42 0.46 0.42 0.43 0.46 0.42 0.41 0.42 0.43 0.42 0.42 0.46 0.46 0.32 0.29 0.29 0.30
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co. 0.48 0.48 0.49 0.50 0.51 0.51 0.52 0.52 0.59 0.60 0.56 0.59 0.60 0.60 0.62 0.64 0.64 0.64 0.66 0.67
Boston Scientific Corp. 0.53 0.50 0.50 0.45 0.44 0.46 0.45 0.44 0.43 0.45 0.44 0.45 0.46 0.47 0.47 0.47 0.48 0.44 0.40
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.34 0.33 0.34 0.33 0.34 0.36 0.36 0.40 0.40 0.39 0.39 0.39 0.38 0.41 0.41 0.40 0.40 0.59 0.41 0.40
Thermo Fisher Scientific Inc. 0.37 0.40 0.40 0.41 0.41 0.42 0.44 0.45 0.47 0.43 0.44 0.44 0.47 0.40 0.42 0.37 0.39 0.40 0.43
UnitedHealth Group Inc. 0.41 0.45 0.44 0.43 0.41 0.40 0.42 0.43 0.40 0.39 0.43 0.45 0.46 0.47 0.48 0.49 0.49 0.49 0.35 0.37

Based on: 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q4 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 11,090 ÷ 23,897 = 0.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Stryker Corp.’s debt to capital ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.

Debt to Assets

Stryker Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Current maturities of debt 859  526  539  521  1,373  1,275  1,277  1,984  632  632  774  35  228  135  927  770  769  971  227  225 
Long-term debt, excluding current maturities 10,231  7,889  7,974  7,950  8,486  5,928  5,925  5,920  6,590  6,593  6,592  7,184  6,686  6,713  6,717  6,706  3,253  2,511  3,242  3,257 
Total debt 11,090  8,415  8,513  8,471  9,859  7,203  7,202  7,904  7,222  7,225  7,366  7,219  6,914  6,848  7,644  7,476  4,022  3,482  3,469  3,482 
 
Total assets 30,167  26,659  26,354  25,937  27,229  22,084  21,570  22,133  22,197  21,485  21,292  20,517  20,435  20,187  20,520  19,668  16,247  15,917  16,819  16,580 
Solvency Ratio
Debt to assets1 0.37 0.32 0.32 0.33 0.36 0.33 0.33 0.36 0.33 0.34 0.35 0.35 0.34 0.34 0.37 0.38 0.25 0.22 0.21 0.21
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co. 0.37 0.39 0.39 0.40 0.40 0.41 0.42 0.41 0.50 0.51 0.43 0.45 0.45 0.46 0.48 0.49 0.48 0.49 0.49 0.55
Boston Scientific Corp. 0.41 0.39 0.39 0.34 0.33 0.33 0.30 0.29 0.30 0.32 0.31 0.30 0.31 0.30 0.32 0.31 0.32 0.30 0.26
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Medtronic PLC 0.28 0.28 0.28 0.28 0.28 0.30 0.31 0.34 0.34 0.33 0.33 0.33 0.31 0.35 0.34 0.34 0.34 0.52 0.35 0.34
Thermo Fisher Scientific Inc. 0.30 0.33 0.33 0.34 0.34 0.35 0.37 0.37 0.39 0.36 0.37 0.36 0.39 0.33 0.35 0.31 0.32 0.34 0.35
UnitedHealth Group Inc. 0.23 0.26 0.25 0.24 0.24 0.22 0.23 0.23 0.23 0.21 0.23 0.25 0.27 0.27 0.28 0.29 0.29 0.29 0.20 0.20

Based on: 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q4 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 11,090 ÷ 30,167 = 0.37

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Stryker Corp.’s debt to assets ratio improved from Q2 2019 to Q3 2019 but then deteriorated significantly from Q3 2019 to Q4 2019.

Financial Leverage

Stryker Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Total assets 30,167  26,659  26,354  25,937  27,229  22,084  21,570  22,133  22,197  21,485  21,292  20,517  20,435  20,187  20,520  19,668  16,247  15,917  16,819  16,580 
Total Stryker shareholders’ equity 12,807  12,315  11,943  11,693  11,730  9,860  9,460  9,214  9,966  10,425  10,035  9,704  9,550  9,332  9,098  8,808  8,511  8,484  8,505  8,321 
Solvency Ratio
Financial leverage1 2.36 2.16 2.21 2.22 2.32 2.24 2.28 2.40 2.23 2.06 2.12 2.11 2.14 2.16 2.26 2.23 1.91 1.88 1.98 1.99
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co. 2.46 2.43 2.47 2.47 2.57 2.53 2.58 2.61 2.91 2.95 3.03 3.21 3.35 3.24 3.42 3.61 3.74 3.73 3.95 3.65
Boston Scientific Corp. 2.76 2.58 2.58 2.41 2.46 2.53 2.73 2.72 2.46 2.54 2.54 2.69 2.73 2.87 2.74 2.87 2.84 2.60 2.53
Intuitive Surgical Inc. 1.18 1.18 1.17 1.17 1.17 1.17 1.17 1.17 1.22 1.14 1.16 1.16 1.12 1.11 1.12 1.12 1.14 1.14 1.15 1.15
Medtronic PLC 1.79 1.78 1.78 1.79 1.80 1.91 1.84 1.98 1.98 1.98 1.96 1.94 1.92 2.02 2.01 1.98 2.00 2.74 2.00 1.95
Thermo Fisher Scientific Inc. 1.93 2.02 2.01 2.04 2.05 2.10 2.17 2.23 2.27 2.08 2.12 2.13 2.22 1.99 2.05 1.92 1.97 2.02 2.10
UnitedHealth Group Inc. 3.02 3.16 3.15 3.12 2.94 3.02 3.20 3.27 2.91 3.10 3.20 3.27 3.21 3.28 3.29 3.35 3.29 3.27 2.77 2.81

Based on: 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q4 2019 Calculation
Financial leverage = Total assets ÷ Total Stryker shareholders’ equity
= 30,167 ÷ 12,807 = 2.36

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Stryker Corp.’s financial leverage ratio decreased from Q2 2019 to Q3 2019 but then increased from Q3 2019 to Q4 2019 exceeding Q2 2019 level.