Stock Analysis on Net

Stryker Corp. (NYSE:SYK)

This company has been moved to the archive! The financial data has not been updated since April 29, 2022.

Enterprise Value to EBITDA (EV/EBITDA) 

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Stryker Corp., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net earnings 1,994 1,599 2,083 3,553 1,020
Add: Income tax expense 287 355 479 (1,197) 1,043
Earnings before tax (EBT) 2,281 1,954 2,562 2,356 2,063
Add: Interest expense 337 315 287 264 247
Earnings before interest and tax (EBIT) 2,618 2,269 2,849 2,620 2,310
Add: Depreciation 371 340 314 306 271
Add: Amortization of intangible assets 619 472 464 417 371
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,608 3,081 3,627 3,343 2,952

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Stryker Corp. EBITDA decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.

Enterprise Value to EBITDA Ratio, Current

Stryker Corp., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 100,693
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,608
Valuation Ratio
EV/EBITDA 27.91
Benchmarks
EV/EBITDA, Competitors1
Abbott Laboratories 19.94
Cigna Group 11.05
CVS Health Corp. 7.03
Elevance Health Inc. 8.42
Humana Inc. 5.39
Intuitive Surgical Inc. 74.98
Medtronic PLC 16.19
UnitedHealth Group Inc. 16.07
EV/EBITDA, Sector
Health Care Equipment & Services 15.75
EV/EBITDA, Industry
Health Care 15.34

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Stryker Corp., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 104,469 103,264 88,412 73,519 59,894
Earnings before interest, tax, depreciation and amortization (EBITDA)2 3,608 3,081 3,627 3,343 2,952
Valuation Ratio
EV/EBITDA3 28.95 33.52 24.38 21.99 20.29
Benchmarks
EV/EBITDA, Competitors4
Abbott Laboratories 17.42 25.99 21.70
Cigna Group 9.06 6.31 8.42
CVS Health Corp. 10.41 8.56 9.43
Elevance Health Inc. 10.05 7.57 9.05
Humana Inc. 11.22 6.91 9.30
Intuitive Surgical Inc. 44.54 59.12 37.53
Medtronic PLC 24.41 17.92 16.01
UnitedHealth Group Inc. 17.39 13.39 13.82
EV/EBITDA, Sector
Health Care Equipment & Services 15.20 12.74 12.95
EV/EBITDA, Industry
Health Care 13.31 16.61 14.16

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 See details »

2 See details »

3 2021 Calculation
EV/EBITDA = EV ÷ EBITDA
= 104,469 ÷ 3,608 = 28.95

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Stryker Corp. EV/EBITDA ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.