Stryker Corporation (SYK)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	12,188,000	13,325,000	10,127,000	10,807,000	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
Total stockholders’ equity	US$ in thousands	20,634,000	20,149,000	19,762,000	19,172,000	18,593,000	17,905,000	17,361,000	16,895,000	16,616,000	16,463,000	15,674,000	15,046,000	14,877,000	14,178,000	13,820,000	13,502,000	13,084,000	12,986,000	12,754,000	13,115,000
Debt-to-capital ratio		0.37	0.40	0.34	0.36	0.37	0.37	0.39	0.41	0.42	0.44	0.46	0.48	0.46	0.47	0.48	0.49	0.50	0.48	0.48	0.42

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $12,188,000K ÷ ($12,188,000K + $20,634,000K)
= 0.37

The debt-to-capital ratio of Stryker Corporation has shown fluctuations over the reported periods. It decreased from 0.42 as of March 31, 2020, to 0.34 as of June 30, 2024. Notably, there have been both increases and decreases in the ratio during this period, indicating changes in the company's capital structure and debt levels. Overall, the ratio has generally trended downwards, suggesting a potentially improving financial position in terms of leverage. It is important to further analyze the underlying reasons for these changes to understand the company's debt management strategy and financial health.