Business Description

Stryker Corporation is a medical technology company. The company has three segments: Orthopedics and MedSurg as well as Neurotechnology and Spine. The Orthopedics section provides implants for hip and knee replacements and trauma and extremities surgery. MedSurg offers medical devices, surgical navigation systems, patient handling, communications, and emergency medical equipment. Terotechnology and Spine provide products for minimally invasive endovascular procedures, brain and open-skull surgical procedures, orthobiologic and surgical products such as synthetic bone and vertebral enhancement products, and minimally invasive treatments for acute ischemic and hemorrhagic stroke.

The company also offers spinal implant products that include cervical, thoracolumbar, and interbody systems. These are used in spinal injury, deformity, and regenerative therapies. It sells its products through company-owned branches, subsidiaries, and third-party dealers in around 85 countries. The company’s product range includes endoscopy equipment, hip and knee replacements, spinal devices, embolic coils, and operating room equipment. Stryker is a leading competitor in reconstructive orthopedic implants. Stryker Corporation was established in 1941. It is headquartered in Kalamazoo in Michigan, USA

Key Financials

Revenue (US$ Mn)

• Stryker Corporation’s annual revenue for 2021 was US$ 17,108 Mn, a 19.21% increase from the 2020
• The annual revenue generated by Stryker Corporation in 2020 was US$ 14,351 Mn
• At a 9.4% increase, Stryker Corporation’s annual revenue of US$ 14,880 Mn was indexed in 2019
• Stryker Corporation generated total revenue of US$ 13,601 Mn in 2018

Operating Income(US$ Mn)

• US$ 2,687 Mn was Stryker Corporation’s operating income in 2021, a 19.96% increase from 2020 figures
• Stryker Corporation indexed a -22.89% decrease in operating incomes from 2019, amounting to US$ 2,240 Mn in 2020
• Stryker Corporation generated an operating income of US$ 2,905 Mn in 2019
• An operating income of US$ 2,560 Mn was indexed by Stryker Corporation in 2018

Net Income(US$ Mn)

• US$ 1,994 Mn was the net income generated by Stryker Corporation in 2021
• Stryker Corporation’s net income for 2020 was US$ 1,599 Mn, a -23.24% decrease from 2019
• From 2018’s net incomes, Stryker Corporation registered a -41.37% decrease in 2019, amounting to US$ 2,083 Mn
• A net income of US$ 3,553 Mn was generated in 2018 by Stryker Corporation

Operating Margin %

• Stryker Corporation’s operating margin for 2021 was 16%, a 0.64% increase from 2020
• The operating margin generated by Stryker Corporation in 2020 was 16%
• At a 3.72% increase, Stryker Corporation’s operating margin of 20% was indexed in 2019
• Stryker Corporation generated an operating margin of 19% in 2018

Gross Margin %

• 64% was Stryker Corporation’s gross margin in 2021, a 1.58% increase from 2020 figures
• Stryker Corporation indexed a -3.07% decrease in gross margins from 2019, amounting to 63% in 2020
• Stryker Corporation generated a gross margin of 65% in 2019
• A gross margin of 66% was indexed by Stryker Corporation in 2018

SWOT Analysis

Strengths

Strong order backlog

A strong order backlog helps the company to provide revenue visibility. The company’s order backlog stood at EUR132 billion as of September 30, 2018. The order backlog for the Power and Gas segment was EUR40 billion. Next came Mobility at EUR28 billion. Siemens Gamesa Renewable Energy had EUR23 billion. Siemens Healthineers had EUR16 billion. Energy Management had EUR12 billion. Process Industries and Drives had EUR6 billion. Building Technologies had EUR5 billion. Digital Factory was EUR4 billion. Conversion of the company’s order backlog will help to drive revenue growth for FY2019. The company’s strong order backlog provides financial strength.

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