Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Stryker Corp., EBITDA calculation

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net earnings	1,994)	1,599)	2,083)	3,553)	1,020)
Add: Income tax expense	287)	355)	479)	(1,197)	1,043)
Earnings before tax (EBT)	2,281)	1,954)	2,562)	2,356)	2,063)
Add: Interest expense	337)	315)	287)	264)	247)
Earnings before interest and tax (EBIT)	2,618)	2,269)	2,849)	2,620)	2,310)
Add: Depreciation	371)	340)	314)	306)	271)
Add: Amortization of intangible assets	619)	472)	464)	417)	371)
Earnings before interest, tax, depreciation and amortization (EBITDA)	3,608)	3,081)	3,627)	3,343)	2,952)

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).

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Enterprise Value to EBITDA Ratio, Current

Stryker Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	100,693)
Earnings before interest, tax, depreciation and amortization (EBITDA)	3,608)
Valuation Ratio
EV/EBITDA	27.91
Benchmarks
EV/EBITDA, Competitors¹
Abbott Laboratories	15.21
Elevance Health Inc.	8.54
Intuitive Surgical Inc.	33.82
Medtronic PLC	13.62
UnitedHealth Group Inc.	16.89
EV/EBITDA, Sector
Health Care Equipment & Services	14.96
EV/EBITDA, Industry
Health Care	20.16

Based on: 10-K (reporting date: 2021-12-31).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Stryker Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	104,469)	103,264)	88,412)	73,519)	59,894)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	3,608)	3,081)	3,627)	3,343)	2,952)
Valuation Ratio
EV/EBITDA³	28.95	33.52	24.38	21.99	20.29
Benchmarks
EV/EBITDA, Competitors⁴
Abbott Laboratories	17.42	—	—	—	—
Elevance Health Inc.	10.05	—	—	—	—
Intuitive Surgical Inc.	44.10	—	—	—	—
Medtronic PLC	24.41	—	—	—	—
UnitedHealth Group Inc.	17.39	—	—	—	—
EV/EBITDA, Sector
Health Care Equipment & Services	18.05	—	—	—	—
EV/EBITDA, Industry
Health Care	14.33	—	—	—	—