Capital Intensity
Score how much of a company is physical plant, inventory, and equipment, whether that base is being maintained, and whether the shares have tangible backing.
Stryker Corporation
Physical assets are 20.3% of total assets, a light footprint. Capex is 0.64x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 10.1%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 5.71x. Compare it with other names in the same basket.
Physical asset ratio
20.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.71x
Revenue per dollar of the physical asset base.
Capex / D&A
0.64x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$6.68
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $293.32.
Fixed-charge coverage
3.46x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.8%
Latest free cash flow divided by current market cap ($112.48B).
ROIC
10.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.11x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 19.3% | 5.94x | 0.79x | -$2.62 | 1.69x | $2.04B | 17.4% | 1.35x |
| 2019 | 19.4% | 5.80x | 0.83x | -$1.29 | 2.60x | $1.54B | 14.1% | 1.32x |
| 2020 | 18.2% | 5.21x | 0.60x | -$13.80 | 2.41x | $2.79B | 10.3% | 1.10x |
| 2021 | 17.7% | 6.04x | 0.53x | -$7.54 | 8.96x | $2.74B | 13.5% | 1.33x |
| 2022 | 20.2% | 5.36x | 0.59x | -$8.24 | 2.24x | $2.04B | 11.6% | 1.08x |
| 2023 | 21.4% | 5.53x | 0.56x | -$3.24 | 1.83x | $3.14B | 12.7% | 1.15x |
| 2024 | 20.3% | 5.70x | 0.72x | $1.00 | 2.91x | $3.49B | 10.4% | 0.93x |
| 2025 | 20.3% | 5.71x | 0.64x | -$6.68 | 3.46x | $4.28B | 10.1% | 1.11x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $4.40B
Inventory: $5.31B
Total assets: $47.84B
Goodwill: $19.29B
Intangibles: $5.68B
Liabilities: $25.42B
Tangible book: -$2.55B
Shares: 382,200,000
Revenue: $25.12B
Capex: $761.00M
D&A: $1.19B
EBITDA: $6.31B
Interest: $607.00M
Short-term debt: $1.00B
Free cash flow: $4.28B
Operating income: $4.89B
Invested capital: $34.68B
Tax rate: 28.1%