Stryker Corporation (SYK)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	10,901,000	10,382,000	11,149,000	11,857,000	11,857,000	12,751,000	13,374,000	13,885,000	12,472,000	12,629,000	12,734,000	13,059,000	13,230,000	12,008,000	11,811,000	9,404,000	10,231,000	7,889,000	7,974,000	7,950,000
Total assets	US$ in thousands	39,912,000	38,042,000	37,409,000	36,830,000	36,884,000	35,983,000	36,032,000	36,137,000	34,631,000	34,145,000	33,698,000	33,455,000	34,330,000	32,286,000	31,483,000	29,440,000	30,167,000	26,659,000	26,354,000	25,937,000
Debt-to-assets ratio		0.27	0.27	0.30	0.32	0.32	0.35	0.37	0.38	0.36	0.37	0.38	0.39	0.39	0.37	0.38	0.32	0.34	0.30	0.30	0.31

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $10,901,000K ÷ $39,912,000K
= 0.27

The debt-to-assets ratio of Stryker Corp. has been relatively stable over the past eight quarters, hovering between 0.33 and 0.39. This ratio measures the proportion of the company's assets financed by debt, with a lower ratio indicating a lower level of debt relative to its total assets.

From the data provided, we can see that the ratio was at its lowest point in Q4 2023 and Q3 2023 at 0.33. This suggests that Stryker Corp. has been utilizing a moderate amount of debt to finance its assets during these quarters. The ratio then slightly increased in Q2 and Q1 2023 to 0.35, indicating a slightly higher reliance on debt financing.

Comparing to the previous year, the ratio has decreased from 0.37 in Q2 2022 to 0.33 in Q4 2023, reflecting a decrease in the proportion of debt relative to assets. However, the ratio rose to 0.39 in Q1 2022, indicating a higher level of debt utilization compared to the most recent quarter.

Overall, Stryker Corp. appears to maintain a prudent balance between debt and assets, with the ratio fluctuating within a relatively narrow range. A consistent monitoring of this ratio is crucial for assessing the company's financial health and risk management strategies.