Stryker (SYK) FY2012 results: revenue $8.7 billion, up 4.2% on the year
Stryker Corp. (SYK) reported revenue of $8.7 billion for fiscal 2012, the year ended 31 December 2012, up 4.2% on the year before. Net income was $1.3 billion, down 3.5%, and diluted earnings per share $3.39. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$8.7 billion
+4.2% on the year
FY2007FY2012
Operating margin
20.1%
20.3% a year earlier
FY2007FY2012
Net income
$1.3 billion
-3.5% on the year
FY2007FY2012
Diluted EPS
$3.39
-1.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
8,657
8,307
7,320
+4.2%
Cost of revenue
2,781
2,811
2,286
-1.1%
Gross profit
5,876
5,496
5,034
+6.9%
Gross margin
67.9%
66.2%
68.8%
Research and development
471
462
394
+1.9%
Selling, general and administrative
3,367
3,150
2,707
+6.9%
Operating income
1,741
1,686
1,751
+3.3%
Operating margin
20.1%
20.3%
23.9%
Interest expense
63.0
56.0
53.0
+12.5%
Pre-tax income
1,705
1,686
1,730
+1.1%
Income tax
407
341
456
+19.4%
Effective tax rate
23.9%
20.2%
26.4%
Net income
1,298
1,345
1,273
-3.5%
Net margin
15.0%
16.2%
17.4%
Diluted EPS
$3.39
$3.45
$3.19
-1.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,657
1,434
1,547
+15.6%
Capital expenditure
210
226
182
-7.1%
Free cash flow
1,447
1,208
1,365
+19.8%
Free cash flow margin
16.7%
14.5%
18.7%
Cash from investing
-736
-2,135
-796
Cash from financing
-449
-161
410
Depreciation and amortisation
486
481
410
+1.0%
Share-based compensation
75.0
75.0
69.0
0.0%
Buybacks
108
622
426
-82.6%
Dividends paid
324
279
238
+16.1%
Dividend per share
$0.90
$0.75
$0.63
+19.9%
Diluted shares, weighted
383m
390m
400m
-1.7%
Shares outstanding at period end
380m
381m
391m
-0.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
8,597
7,683
7,174
+11.9%
Debt
1,762
1,768
1,022
-0.3%
Other liabilities
2,847
2,695
2,463
+5.6%
Total liabilities and equity
13,206
12,146
10,658
+8.7%
Fixed assets
948
888
798
+6.8%
Goodwill
2,142
2,072
1,072
+3.4%
Intangible assets
1,424
1,442
703
-1.2%
Investments
2,890
2,513
2,622
+15.0%
Cash and equivalents
1,395
905
1,758
+54.1%
Receivables
1,430
1,417
1,252
+0.9%
Inventory
1,265
1,283
1,057
-1.4%
Other assets
1,712
1,626
1,396
+5.3%
Total assets
13,206
12,146
10,658
+8.7%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.