Stryker (SYK) FY2016 results: revenue $11.3 billion, up 13.9% on the year
Stryker Corp. (SYK) reported revenue of $11.3 billion for fiscal 2016, the year ended 31 December 2016, up 13.9% on the year before. Net income was $1.6 billion, up 14.5%, and diluted earnings per share $4.35. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$11.3 billion
+13.9% on the year
FY2009FY2016
Operating margin
19.2%
18.7% a year earlier
FY2009FY2016
Net income
$1.6 billion
+14.5% on the year
FY2009FY2016
Diluted EPS
$4.35
+15.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
11,325
9,946
9,675
+13.9%
Cost of revenue
3,821
3,344
3,319
+14.3%
Gross profit
7,495
6,602
6,356
+13.5%
Gross margin
66.2%
66.4%
65.7%
Research and development
715
625
614
+14.4%
Selling, general and administrative
4,137
3,610
3,547
+14.6%
Operating income
2,175
1,861
1,246
+16.9%
Operating margin
19.2%
18.7%
12.9%
Interest expense
228
108
113
+111.1%
Pre-tax income
1,921
1,735
1,160
+10.7%
Income tax
274
296
645
-7.4%
Effective tax rate
14.3%
17.1%
55.6%
Net income
1,647
1,439
515
+14.5%
Net margin
14.5%
14.5%
5.3%
Diluted EPS
$4.35
$3.78
$1.34
+15.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,915
981
1,782
+95.2%
Capital expenditure
490
270
233
+81.5%
Free cash flow
1,425
711
1,549
+100.4%
Free cash flow margin
12.6%
7.1%
16.0%
Cash from investing
-4,191
1,956
-1,878
Cash from financing
2,258
-1,223
629
Depreciation and amortisation
752
590
586
+27.5%
Share-based compensation
97.0
86.0
77.0
+12.8%
Buybacks
13.0
700
100
-98.1%
Dividends paid
568
521
462
+9.0%
Dividend per share
$1.56
$1.42
$1.26
+10.6%
Diluted shares, weighted
378m
381m
383m
-0.6%
Shares outstanding at period end
375m
373m
378m
+0.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
9,550
8,511
8,595
+12.2%
Non-controlling interest
0.0
n/a
n/a
Debt
6,914
3,998
3,973
+72.9%
Other liabilities
3,971
3,738
4,690
+6.2%
Total liabilities and equity
20,435
16,247
17,258
+25.8%
Fixed assets
1,569
1,199
1,098
+30.9%
Goodwill
6,356
4,136
4,186
+53.7%
Intangible assets
3,508
1,794
2,018
+95.5%
Investments
68.0
700
3,205
-90.3%
Cash and equivalents
3,316
3,379
1,795
-1.9%
Receivables
1,967
1,662
1,572
+18.4%
Inventory
2,030
1,639
1,588
+23.9%
Other assets
1,621
1,738
1,796
-6.7%
Total assets
20,435
16,247
17,258
+25.8%
10-K for the year ended 31 December 2016, filed 7 February 2019: the filing.