Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Stryker Corp. (NYSE:SYK)

Analysis of Long-term (Investment) Activity Ratios

Beginner level


Long-term Activity Ratios (Summary)

Stryker Corp., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net fixed asset turnover 5.80 5.94 6.30 7.22 8.30
Net fixed asset turnover (including operating lease, right-of-use asset) 5.04 5.94 6.30 7.22 8.30
Total asset turnover 0.49 0.50 0.56 0.55 0.61
Equity turnover 1.16 1.16 1.25 1.19 1.17

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Stryker Corp.’s net fixed asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Stryker Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Stryker Corp.’s total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Stryker Corp.’s equity turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Net Fixed Asset Turnover

Stryker Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,884  13,601  12,444  11,325  9,946 
Property, plant and equipment, net 2,567  2,291  1,975  1,569  1,199 
Long-term Activity Ratio
Net fixed asset turnover1 5.80 5.94 6.30 7.22 8.30
Benchmarks
Net Fixed Asset Turnover, Competitors2
Becton, Dickinson & Co. 3.06 2.97 2.61 3.20 2.53
Boston Scientific Corp. 5.16 5.51 5.33 5.14 5.02
Danaher Corp. 7.78 7.92 7.47 7.17 7.28
Intuitive Surgical Inc. 3.52 4.59 5.10 5.90 5.52
Medtronic PLC 6.54 6.51 6.81 5.96 4.31
Thermo Fisher Scientific Inc. 5.38 5.85 5.17 7.09 6.93
UnitedHealth Group Inc. 27.60 26.59 28.54 31.18 32.17
Net Fixed Asset Turnover, Sector
Health Care Equipment & Services 11.30 11.41 11.41 12.18 11.10
Net Fixed Asset Turnover, Industry
Health Care 5.99 6.05 5.84 6.04 5.68

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 14,884 ÷ 2,567 = 5.80

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Stryker Corp.’s net fixed asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Stryker Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,884  13,601  12,444  11,325  9,946 
 
Property, plant and equipment, net 2,567  2,291  1,975  1,569  1,199 
Operating lease right-of-use assets (recorded in Other noncurrent assets) 384  —  —  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 2,951  2,291  1,975  1,569  1,199 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.04 5.94 6.30 7.22 8.30
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boston Scientific Corp. 4.45 5.51 5.33 5.14 5.02
Danaher Corp. 5.84 7.92 7.47 7.17 7.28
Intuitive Surgical Inc. 3.32 4.59 5.10 5.90 5.52
Medtronic PLC 6.54 6.51 6.81 5.96 4.31
Thermo Fisher Scientific Inc. 4.69 5.85 5.17 7.09 6.93
UnitedHealth Group Inc. 18.97 26.59 28.54 31.18 32.17
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Health Care Equipment & Services 9.46 11.41 11.41 12.18 11.10
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care 5.36 6.05 5.84 6.04 5.68

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 14,884 ÷ 2,951 = 5.04

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Stryker Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019.

Total Asset Turnover

Stryker Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,884  13,601  12,444  11,325  9,946 
Total assets 30,167  27,229  22,197  20,435  16,247 
Long-term Activity Ratio
Total asset turnover1 0.49 0.50 0.56 0.55 0.61
Benchmarks
Total Asset Turnover, Competitors2
Becton, Dickinson & Co. 0.33 0.30 0.32 0.49 0.38
Boston Scientific Corp. 0.35 0.47 0.48 0.46 0.41
Danaher Corp. 0.29 0.42 0.39 0.37 0.43
Intuitive Surgical Inc. 0.46 0.47 0.54 0.42 0.49
Medtronic PLC 0.34 0.33 0.30 0.29 0.19
Thermo Fisher Scientific Inc. 0.44 0.43 0.37 0.40 0.41
UnitedHealth Group Inc. 1.38 1.48 1.44 1.50 1.40
Total Asset Turnover, Sector
Health Care Equipment & Services 0.71 0.75 0.72 0.74 0.65
Total Asset Turnover, Industry
Health Care 0.51 0.57 0.51 0.53 0.51

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Total asset turnover = Net sales ÷ Total assets
= 14,884 ÷ 30,167 = 0.49

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Stryker Corp.’s total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Equity Turnover

Stryker Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,884  13,601  12,444  11,325  9,946 
Total Stryker shareholders’ equity 12,807  11,730  9,966  9,550  8,511 
Long-term Activity Ratio
Equity turnover1 1.16 1.16 1.25 1.19 1.17
Benchmarks
Equity Turnover, Competitors2
Becton, Dickinson & Co. 0.82 0.76 0.93 1.64 1.44
Boston Scientific Corp. 0.77 1.13 1.29 1.25 1.18
Danaher Corp. 0.59 0.71 0.70 0.73 0.87
Intuitive Surgical Inc. 0.54 0.56 0.66 0.47 0.55
Medtronic PLC 0.61 0.59 0.59 0.55 0.38
Thermo Fisher Scientific Inc. 0.86 0.88 0.82 0.85 0.79
UnitedHealth Group Inc. 4.17 4.35 4.19 4.81 4.62
Equity Turnover, Sector
Health Care Equipment & Services 1.62 1.66 1.66 1.72 1.54
Equity Turnover, Industry
Health Care 1.42 1.51 1.35 1.33 1.22

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 2019 Calculation
Equity turnover = Net sales ÷ Total Stryker shareholders’ equity
= 14,884 ÷ 12,807 = 1.16

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Stryker Corp.’s equity turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.