Forensic Analysis · Medical Devices · as of Nov 7, 2026

Stryker Corp (SYK)

A forensic read on Stryker Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

4.0

Distress distance

Clean

Earnings quality

Forensic signals

15.1%

ROE

11.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Stryker Corp earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 4.0, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by goodwill impairments.

What the filings flag

$456M

FY2024

Goodwill impairments. Took $456M of goodwill writedowns across 1 year (FY2024 ($456M)) — about 15% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.

10.0%

FY2025

Return on invested capital. Return on invested capital is 10.0% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.9-point range. After-tax operating profit was $3.4B in FY2023 and $3.5B in FY2025, with operating income at 19.0% of revenue in FY2023, 16.3% in FY2024 and 19.5% in FY2025. The capital base behind it grew +13% across FY2023–FY2025, from $31.1B to $35.1B, while the return fell 0.8 points, so the dollars added over that window earned less than the 10.8% the older base was already earning. FY2024's operating profit carried a $977M asset write-down and a $456M goodwill write-off that alone took about 3.8 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.

Key fundamentals

Latest Revenue$25.12B

Revenue Growth YoY+11.2%

Revenue CAGR (2yr)+10.7%

Net Margin12.9%

Free Cash Flow$4.28B

Return on Equity15.1%

Debt / Equity0.71x

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Data from SEC EDGAR public filings · metrics as of Nov 7, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.