Stryker Corporation (SYK)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Debt-to-capital ratio | 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 | 0.44 | 0.39 | 0.40 | 0.40 |
| Debt-to-equity ratio | 0.59 | 0.58 | 0.64 | 0.70 | 0.71 | 0.77 | 0.85 | 0.92 | 0.84 | 0.89 | 0.92 | 0.97 | 1.01 | 0.92 | 0.93 | 0.72 | 0.80 | 0.64 | 0.67 | 0.68 |
| Financial leverage ratio | 2.15 | 2.12 | 2.15 | 2.18 | 2.22 | 2.19 | 2.30 | 2.40 | 2.33 | 2.41 | 2.44 | 2.48 | 2.62 | 2.49 | 2.47 | 2.24 | 2.36 | 2.16 | 2.21 | 2.22 |
Stryker Corp.'s solvency ratios demonstrate the company's ability to meet its long-term financial obligations and manage its debt levels effectively. The debt-to-assets ratio has remained relatively stable around 0.33 to 0.35 over the past eight quarters, indicating that around one-third of the company's assets are financed by debt.
The debt-to-capital ratio has also shown consistency, ranging from 0.41 to 0.44 during the same period, suggesting that between 41% to 44% of Stryker's capital structure is comprised of debt. The debt-to-equity ratio has displayed an upward trend from 0.70 in Q4 2022 to 0.94 in Q1 2022. This indicates that Stryker has been increasing its reliance on debt financing in comparison to equity.
The financial leverage ratio, which measures the proportion of the company's assets that are financed by debt, has fluctuated between 2.12 to 2.40 in the past two years. This indicates that Stryker's financial leverage has varied, with a higher ratio suggesting a greater reliance on debt to support its operations.
Overall, the solvency ratios show that Stryker Corp. has been managing its debt levels prudently, with a consistent debt-to-assets and debt-to-capital ratio but an increasing debt-to-equity ratio. Monitoring these ratios is crucial for investors and creditors to assess the company's long-term financial health and risk management strategies.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 69.43 | 31.61 | 28.39 | 18.51 | 16.33 | 23.52 | 23.12 | 42.16 | — | — | — | — | — | 8.43 | 3.81 | 3.28 | 2.36 | 2.19 | 2.19 | 2.29 |
As the provided table does not include data on interest expense and EBIT (Earnings Before Interest and Taxes) for Stryker Corp., it is not possible to calculate the interest coverage ratio for the company. This ratio is typically determined by dividing EBIT by the interest expense incurred during a specific period. In the absence of this data, a comprehensive analysis of Stryker Corp.'s interest coverage cannot be provided. It is recommended to access the company's financial statements or additional data to calculate and interpret the interest coverage ratio accurately.