Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Paying user area
Try for free
Stryker Corp. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Stryker Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
Stryker Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio demonstrates considerable fluctuation over the observed periods. Initially, it declines markedly from 62.59 to 18.96 between March 2018 and December 2018, suggesting increasing earnings relative to price or a decrease in market valuation. Following this trough, the ratio experiences a general upward trend, peaking near 69.46 in March 2021. Thereafter, it declines gradually, stabilizing around the mid-40s by March 2022. The overall volatility suggests variable investor sentiment and earnings performance during the period.
- Price to Operating Profit (P/OP) Ratio
- This ratio shows moderate variability without a clear long-term trend. Starting at 27.41 in March 2018, it decreases to approximately 23.52 by September 2018 before increasing to a peak of 33.22 in mid-2019. A slight decline follows, dropping to the mid-20s by March 2020, then sharply rising to a maximum of 47.78 in March 2021. Post-peak, it declines again, settling at 35.47 by March 2022. The oscillations reflect fluctuations in operating profitability compared to market valuation.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio follows an overall upward trajectory from 5.01 in March 2018 to a peak above 6.65 in March 2021. This indicates an increasing valuation relative to sales over the period. However, after this peak, the ratio decreases steadily to 5.23 by March 2022, indicating some moderation in valuation multiples or relative sales growth.
- Price to Book Value (P/BV) Ratio
- The ratio gradually declines from 6.92 in March 2018 to a low near 5.74 by December 2018, reflecting a decrease in market valuation relative to book value. Subsequently, it rises consistently, reaching a high of 7.33 in June 2021, before trending downward toward 6.06 by March 2022. This pattern suggests fluctuations in market perception of net asset value and possibly underlying balance sheet changes.
Price to Earnings (P/E)
Stryker Corp., historical P/E calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Net earnings (loss) (in millions) | |||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
EPS
= (Net earnings (loss)Q1 2022
+ Net earnings (loss)Q4 2021
+ Net earnings (loss)Q3 2021
+ Net earnings (loss)Q2 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Stryker Corp. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend Analysis
- The share price exhibited fluctuations over the observed periods. Initially, it showed modest variations around the 160 to 180 US$ range from early 2018 to early 2019. A notable increase occurred starting mid-2019, peaking at approximately 268.68 US$ in mid-2021. However, subsequent months demonstrated a declining trend, with the share price falling to 241.26 US$ by the first quarter of 2022.
- Earnings Per Share (EPS) Trend Analysis
- The EPS showed considerable variability over the quarters. It increased substantially from roughly 2.73 US$ in early 2018 to a peak above 9 US$ towards the end of 2018 and mid-2019. This was followed by a pronounced decline during 2020, with EPS stabilizing at a lower level around 4.25 to 5.33 US$ by early 2022. The fluctuations indicate periods of strong earnings performance interrupted by notable decreases.
- Price-to-Earnings (P/E) Ratio Trend Analysis
- The P/E ratio showed significant volatility corresponding to changes in share price and EPS. It started at a high level above 60 in early 2018, dropped substantially to under 20 by the end of 2018, and then rose again to approximately 39 by the end of 2019. The year 2020 saw elevated P/E ratios consistently above 40, reflecting lower earnings relative to share price. By early 2022, the P/E ratio moderated to the mid-40s range, suggesting a partial normalization of market valuation relative to earnings.
- Insights and Patterns
- The general trend indicates a period of strong earnings and moderate share price growth until late 2019, followed by increased share price volatility and reduced earnings during 2020. The marked increase in P/E ratio during 2020 suggests that share prices remained relatively high despite weaker earnings, potentially reflecting market expectations or external factors affecting valuation. The subsequent stabilization of earnings and partial decrease in share price led to a somewhat normalized valuation by early 2022, although share prices remained below mid-2021 peaks.
Price to Operating Profit (P/OP)
Stryker Corp., historical P/OP calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Operating income (loss) (in millions) | |||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
Operating profit per share
= (Operating income (loss)Q1 2022
+ Operating income (loss)Q4 2021
+ Operating income (loss)Q3 2021
+ Operating income (loss)Q2 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Stryker Corp. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price of the company exhibited notable fluctuations over the analyzed periods, with an overall upward trend from early 2018 through early 2021, followed by a gradual decline into the first quarter of 2022. Initially, the share price remained relatively stable around the mid-160 to low-180 US$ range throughout 2018 and early 2019, peaking at 218.24 US$ by the end of 2019. A decline was observed at the beginning of 2020, coinciding with global market uncertainties, with a trough at 180.62 US$ in March 2020. Subsequently, the share price rebounded strongly, reaching an all-time high of 268.68 US$ in June 2021. However, after this peak, the share price experienced a gradual decrease, closing at 241.26 US$ by March 2022.
Operating profit per share demonstrated a less consistent trend. From 2018 through early 2019, it remained relatively stable around the 6.2 to 7.2 US$ range, peaking at 7.51 US$ in March 2020. However, a significant drop to 5.82 US$ occurred in the second quarter of 2020, possibly reflecting operational challenges during that period. Thereafter, operating profit per share showed partial recovery but did not regain previous peak levels, fluctuating between 5.4 and 7.4 US$ through early 2022, indicating some volatility in operational profitability.
The price-to-operating profit ratio (P/OP) reflected the interplay between share price and operating profit per share. This ratio varied considerably over time, indicating changing investor valuation relative to operating profitability. In 2018 and early 2019, the P/OP ratio hovered between approximately 23.5 and 33.2, with a notable spike to 41.52 in the fourth quarter of 2020. The highest ratio was observed in the first quarter of 2021 at 47.78, corresponding to elevated share prices amid relatively lower operating profit per share. Following this, the ratio declined but remained elevated compared to earlier periods, standing at 35.47 by March 2022. These fluctuations suggest periods when the market valuation outpaced operational earnings improvements, possibly reflecting investor optimism or other external factors.
In summary, the share price showed strong recovery and growth post-2020 downturn, while operating profit per share exhibited more volatility and an incomplete recovery from the mid-2020 dip. The P/OP ratio's volatility and peaks in late 2020 and early 2021 indicate divergence between market valuation and operational performance, with valuations temporarily exceeding earnings performance before normalizing somewhat.
Price to Sales (P/S)
Stryker Corp., historical P/S calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Net sales (in millions) | |||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
Sales per share
= (Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Stryker Corp. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable fluctuations over the analyzed period. Initially, it hovered around the 160-180 US$ range during 2018, with a moderate uptrend reaching approximately 218 US$ by the end of 2019. However, a decline occurred in the first quarter of 2020, likely influenced by broader market conditions, dipping to around 180 US$. Subsequently, a recovery and strong upward movement ensued through 2020 and into early 2021, peaking near 269 US$. After this peak, the share price experienced a gradual decline through 2022, ending at approximately 241 US$.
- Sales per Share Pattern
- Sales per share demonstrated a steady and consistent increase throughout the timeframe. Starting at about 34.06 US$ in early 2018, values incrementally rose each quarter, reaching over 46 US$ by the first quarter of 2022. This continuous growth indicates a positive underlying revenue performance or improved operational efficiency contributing to higher sales on a per-share basis.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio exhibited variability that reflects the interplay between share price and sales per share. Initially, the ratio was moderately steady around 4.5 to 5.0 in 2018, with a noticeable increase during late 2019 and 2020, peaking above 6.4. This suggests elevated market valuation relative to sales, potentially reflecting investor optimism or expectations of future growth. Following the peak, the ratio gradually declined but remained above 5.0 by early 2022, which indicates that while valuations moderated, they stayed elevated relative to historical levels.
- Integrated Insights
- The combination of steadily increasing sales per share with a fluctuating share price and P/S ratio suggests that the company maintained strong operational performance, yet market sentiment and external factors influenced share price volatility. The heightened P/S ratio during 2020 and early 2021 could indicate increased investor confidence or anticipated growth prospects during that period. The subsequent decrease in share price and P/S ratio by early 2022 points to a normalization or recalibration of valuation metrics despite ongoing growth in sales per share.
Price to Book Value (P/BV)
Stryker Corp., historical P/BV calculation (quarterly data)
| Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Total Stryker shareholders’ equity (in millions) | |||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Elevance Health Inc. | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2022 Calculation
BVPS = Total Stryker shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Stryker Corp. Quarterly or Annual Report.
4 Q1 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated variability across the observed periods, beginning at $170.67 at the end of Q1 2018 and experiencing a moderate decline through Q3 2018 to $160.38. Subsequently, it increased steadily to reach $218.24 by the end of Q4 2019. In 2020, the share price displayed a decline in the first quarter to $180.62, followed by a recovery and upward trend peaking at $245.34 by Q4 2020. The price continued to rise moderately through 2021, peaking at $268.68 in Q2, before exhibiting a gradual decrease to $241.26 by Q1 2022.
- Book Value per Share (BVPS)
- The book value per share showed a consistent upward trajectory over the entire span, starting at $24.66 in Q1 2018 and increasing steadily each quarter. Notable growth occurred through 2018 and 2019, with values rising from $24.66 to $34.19 by Q4 2019. Although a slight dip was observed in mid-2020, the book value continued to increase, ultimately reaching $39.79 by Q1 2022. This trend suggests a steady enhancement in net asset value per share over the observed period.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio displayed notable fluctuations, starting relatively high at 6.92 in Q1 2018 and declining gradually through 2018 to a low of 5.74 by Q4 2018. In 2019, the ratio rose again, peaking at 6.72 by mid-year before waning slightly toward the year-end. Early 2020 saw a further decline to 5.17 but was followed by a sharp rise to 7.05 by Q4 2020. The P/BV ratio maintained elevated levels throughout 2021, peaking at 7.33 in mid-year before a decrease in late 2021 and early 2022 to 6.06 by Q1 2022. These movements indicate periods of changing market valuation relative to book value, with the ratio reflecting varying investor sentiment and market conditions over time.
- Overall Insights
- The data reveals an overall positive growth in intrinsic company value as reflected by the steadily increasing book value per share. In contrast, the share price and P/BV ratio experienced more cyclical fluctuations, likely influenced by external market factors and investor sentiment. The pronounced elevation of the P/BV ratio in late 2020 and 2021 may imply increased market optimism or expectation of future growth during that interval. The subsequent reduction in both share price and P/BV ratio in early 2022 suggests a possible correction or more cautious investor outlook. The interplay between these metrics highlights the dynamic nature of market valuation compared to fundamental book value.