Stryker Corp., current enterprise value calculation

Current share price (P)	$241.26
No. shares of common stock outstanding	378,154,080
US$ in millions
Common equity (market value)¹	91,233)
Add: Non-controlling interest (per books)	—)
Total equity	91,233)
Add: Current maturities of debt (per books)	7)
Add: Long-term debt, excluding current maturities (per books)	12,472)
Total equity and debt	103,712)
Less: Cash and cash equivalents	2,944)
Less: Marketable securities	75)
Enterprise value (EV)	100,693)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 241.26 × 378,154,080

Stryker Corp., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$251.65	$245.34	$218.24	$180.75	$148.01
No. shares of common stock outstanding¹	377,544,686	376,200,942	374,575,145	372,664,636	374,642,060
US$ in millions
Common equity (market value)³	95,009)	92,297)	81,747)	67,359)	55,451)
Add: Non-controlling interest (book value)	—)	—)	—)	—)	14)
Total equity	95,009)	92,297)	81,747)	67,359)	55,465)
Add: Current maturities of debt (book value)	7)	761)	859)	1,373)	632)
Add: Long-term debt, excluding current maturities (book value)	12,472)	13,230)	10,231)	8,486)	6,590)
Total equity and debt	107,488)	106,288)	92,837)	77,218)	62,687)
Less: Cash and cash equivalents	2,944)	2,943)	4,337)	3,616)	2,542)
Less: Marketable securities	75)	81)	88)	83)	251)
Enterprise value (EV)	104,469)	103,264)	88,412)	73,519)	59,894)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Stryker Corp. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 251.65 × 377,544,686

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Stryker Corp. EV increased from 2019 to 2020 and from 2020 to 2021.

Stryker Corp. (NYSE:SYK)

Enterprise Value (EV)