Stryker (SYK) FY2015 results: revenue $9.9 billion, up 2.8% on the year
Stryker Corp. (SYK) reported revenue of $9.9 billion for fiscal 2015, the year ended 31 December 2015, up 2.8% on the year before. Net income was $1.4 billion, up 179.4%, and diluted earnings per share $3.78. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2016.
Revenue
$9.9 billion
+2.8% on the year
FY2008FY2015
Operating margin
18.7%
12.9% a year earlier
FY2008FY2015
Net income
$1.4 billion
+179.4% on the year
FY2008FY2015
Diluted EPS
$3.78
+182.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,946
9,675
9,021
+2.8%
Cost of revenue
3,344
3,319
3,002
+0.8%
Gross profit
6,602
6,356
6,019
+3.9%
Gross margin
66.4%
65.7%
66.7%
Research and development
625
614
536
+1.8%
Selling, general and administrative
3,610
3,547
3,467
+1.8%
Operating income
1,861
1,246
1,256
+49.4%
Operating margin
18.7%
12.9%
13.9%
Interest expense
108
113
83.0
-4.4%
Pre-tax income
1,735
1,160
1,212
+49.6%
Income tax
296
645
206
-54.1%
Effective tax rate
17.1%
55.6%
17.0%
Net income
1,439
515
1,006
+179.4%
Net margin
14.5%
5.3%
11.2%
Diluted EPS
$3.78
$1.34
$2.63
+182.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
981
1,782
1,886
-44.9%
Capital expenditure
270
233
195
+15.9%
Free cash flow
711
1,549
1,691
-54.1%
Free cash flow margin
7.1%
16.0%
18.7%
Cash from investing
1,956
-1,878
-2,217
Cash from financing
-1,223
629
300
Depreciation and amortisation
590
586
511
+0.7%
Share-based compensation
86.0
77.0
76.0
+11.7%
Buybacks
700
100
317
+600.0%
Dividends paid
521
462
401
+12.8%
Dividend per share
$1.42
$1.26
$1.10
+12.3%
Diluted shares, weighted
381m
383m
382m
-0.5%
Shares outstanding at period end
373m
378m
378m
-1.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
8,511
8,595
9,047
-1.0%
Debt
3,998
3,973
2,764
+0.6%
Other liabilities
3,738
4,690
3,588
-20.3%
Total liabilities and equity
16,247
17,258
15,399
-5.9%
Fixed assets
1,199
1,098
1,081
+9.2%
Goodwill
4,136
4,186
3,844
-1.2%
Intangible assets
1,794
2,018
1,989
-11.1%
Investments
700
3,205
2,641
-78.2%
Cash and equivalents
3,379
1,795
1,339
+88.2%
Receivables
1,662
1,572
1,518
+5.7%
Inventory
1,639
1,588
1,422
+3.2%
Other assets
1,738
1,796
1,565
-3.2%
Total assets
16,247
17,258
15,399
-5.9%
10-K for the year ended 31 December 2015, filed 11 February 2016: the filing.