Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 24, 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.
B · Sound & dependable
Forensic grade
Safe
Financial health
7.4
Distress distance
Clean
Earnings quality
4
Forensic signals
28.3
P / E (ttm)
14.5%
ROE
$104.9B
Market cap
1.02%
Dividend yield
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 (red flags, auditor quality, say on pay, board independence, going concern, valuation). 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 a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 7.4, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by goodwill impairments.
What the filings flag
$456M
FY2024–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.
+11.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +11.4% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +11% against +11% in cost of sales. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 6% of net operating assets, against an accruals ratio of 11.4%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
9.5%
FY2025
Return on invested capital.Return on invested capital is 9.5% in the latest fiscal year and steady across FY2023–FY2025, inside a 1.3-point range. The capital base behind it grew +19% across FY2023–FY2025, from $31.1B to $37.0B, while the return fell 1.3 points, so the dollars added over that window earned less than the 11% the older base was already earning.
+0.4%/yr
FY2023–FY2025
Share count.Diluted share count changed +1% over the last 2 years to FY2025 (+0.4%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
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 Equity14.5%
Debt / Equity0.71x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Stryker Corp's actual 10-K/10-Q/8-K filings?