SYK Stryker Corporation Common Stock
About Stryker Corporation Common Stock Company overview from Wikipedia
Stryker Corporation is an American multinational medical technologies corporation based in Portage, Michigan, United States. The company's products are used for medical surgery and neurotechnology, which include surgical equipment, patient and caregiver safety technologies, endoscopy systems, and patient handling, emergency medical equipment, and intensive care disposable products, as well as neurosurgical, neurovascular and oral and maxillofacial surgery implant products; and orthopedic surgery, which includes implants used in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries. Stryker's products are sold in over 75 countries and are used by 150 million patients annually. In 2024, 75% of the company's revenues came from the United States.
Read more
Stryker Corporation is an American multinational medical technologies corporation based in Portage, Michigan, United States. The company's products are used for medical surgery and neurotechnology (60% of 2024 revenues), which include surgical equipment, patient and caregiver safety technologies, endoscopy systems, and patient handling, emergency medical equipment, and intensive care disposable products, as well as neurosurgical, neurovascular and oral and maxillofacial surgery implant products; and orthopedic surgery (40% of 2024 revenues), which includes implants used in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries. Stryker's products are sold in over 75 countries and are used by 150 million patients annually. In 2024, 75% of the company's revenues came from the United States.
The company is ranked 195th on the Fortune 500 and 331st on the Forbes Global 2000.
## History
In 1941, The Orthopedic Frame Company was founded by Homer Stryker, an orthopedist from Kalamazoo, Michigan. Stryker developed the Turning Frame, a mobile hospital bed that allowed for repositioning of injured patients while providing necessary body immobility; the cast cutter, a cast cutting apparatus that removed cast material without damaging underlying tissues; and the walking heel, among others. In 1964, the company name was changed to Stryker Corporation.
In 1977, John W. Brown joined as president and CEO and became chairman in 1981. He transitioned to chairman in 2003. In 2009, Brown retired as chairman after 32 years with the company. Under his leadership, revenues rose from $17 million to $6.7 billion.
In 1979, Stryker became a public company via an initial public offering.
In 2003, Stephen P. MacMillan joined Stryker as president and CEO.
In 2007, Stryker sold its Physiotherapy Associates division to private equity firm Water Street Healthcare Partners for $150 million.
In 2007 and 2008, the company received three FDA warning letters citing issues in compliance. The first of these, a seven-page correspondence, named various issues at an Irish manufacturing facility, such as untimely fix of failures and procedural noncompliance in the testing of failed or otherwise problem-prone devices. The second, sent November 2007, cited issues at the firm's Mahwah, New Jersey, facility, including poor fixation of hip implant components, in some instances requiring mitigation by revision surgeries; exceeded microbial level violations in the cleaning and final packaging areas of the sterile implants; and failure to institute measures in prevention of recurrence of these and other problems. The third warning letter, sent April 2008, cited issues at the firm's biotechnology facility in Hopkinton, Massachusetts related to quality and noncompliance including falsification of documents relevant to the selling of products to hospitals which are to be sold under a limited, government-mandated basis. Stryker maintains that employees involved in the falsification of documents have since been terminated.
In August 2010, the company paid $1.35 million to settle claims that it marketed items without regulatory approval and misled health care providers about the use of its products.
Stryker initiated a product recall on several models of medical vacuums sold under the Neptune Waste Management System brand in June and September 2012. The devices, some of which had not been cleared by the Food and Drug Administration, caused a fatal accident when the vacuum was mistakenly used to suction a passive drainage tube.
In 2012, the FDA issued a warning for the Stryker Rejuvenate hip replacement after it was discovered that the hip replacement was considered defective and could cause similar side effects to DePuy Synthes hip implants. As a result, in 2014, Stryker was fined $1 billion and $2.5 billion, respectively, for its defective Rejuvenate and ABG II hip replacements that can cause excruciating pain.
In February 2012, MacMillan resigned and Curt R. Hartman was named interim chief executive officer, vice-president and chief financial officer. William U. Parfet was named non-executive chairman of the board. In October 2012, Kevin A. Lobo was appointed as president and chief executive officer.
In 2013, the company agreed to pay $13.2 million to settle charges that it made illicit payments totaling approximately $2.2 million in Argentina, Greece, Mexico, Poland, and Romania. In 2018, the company was fined $7.8 million under the Foreign Corrupt Practices Act for failing to detect the risk of improper payments in sales of products in India, China, and Kuwait.
In 2016, subsidiary company Stryker EMEA Supply Chain Services BV challenged the Dutch authorities' interpretation of procurement nomenclature regarding implant screws intended to be inserted in the human body. The matter was referred to the European Court of Justice for a preliminary ruling on the legal position and on the validity of the relevant EU implementing regulation.
Stryker is among companies that continue business-as-usual in Russia during the 2022 Russian invasion of Ukraine despite international sanctions during the Russian invasion of Ukraine. Research from Yale School of Management evaluating companies' reaction to the Russian invasion put Stryker in the "Grade F" category of "Digging In", meaning "Defying Demands for Exit or Reduction of Activities."
In 2023, Stryker introduced a minimally invasive bunion treatment system, Prostep MIS Lapidus, which aims to reduce bunion recurrence, minimize scarring, and lower opioid use.
On 11 March 2026, during the 2026 Iran war, the Handala Hack Team issued a remote wipe of company computers using Microsoft Intune. This attack was reported to delay surgeries for some patients. In the first week of April, Stryker reported to be fully operational again.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
SYK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
SYK Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| June 30, 2026 | $0.8800 |
| March 31, 2026 | $0.8800 |
| Dec. 31, 2025 | $0.8800 |
| Sept. 30, 2025 | $0.8400 |
| June 30, 2025 | $0.8400 |
| March 31, 2025 | $0.8400 |
| Dec. 31, 2024 | $0.8400 |
| Sept. 30, 2024 | $0.8000 |
| June 28, 2024 | $0.8000 |
| March 27, 2024 | $0.8000 |
| Dec. 28, 2023 | $0.8000 |
| Sept. 28, 2023 | $0.7500 |
| June 29, 2023 | $0.7500 |
| March 30, 2023 | $0.7500 |
| Dec. 29, 2022 | $0.7500 |
| Sept. 29, 2022 | $0.6950 |
| June 29, 2022 | $0.6950 |
| March 30, 2022 | $0.6950 |
| Dec. 30, 2021 | $0.6950 |
| Sept. 29, 2021 | $0.6300 |
SYK Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 13 38.2%
- Buy 15 44.1%
- Hold 6 17.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
25 analysts · 2026-08-16Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.69 | $3.52 | 0.17% |
| March 31, 2026 | $2.60 | $3.01 | -0.41% |
| Dec. 31, 2025 | $4.47 | $4.44 | 0.03% |
| Sept. 30, 2025 | $3.19 | $3.16 | 0.03% |
| June 30, 2025 | $3.13 | $3.10 | 0.03% |
| March 31, 2025 | $2.84 | $2.73 | 0.11% |
| Sept. 30, 2000 | $0.12 | $0.13 | -0.00% |
| June 30, 2000 | $0.13 | $0.13 | -0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SYK | $134.44B | 41.8 | 11.2% | 12.9% | 15.1% | 64.0% |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | — |
| ISRG | $201.11B | 72.0 | 20.5% | 28.4% | 16.7% | 66.0% |
| BSX | — | 49.1 | 19.9% | 14.4% | 12.6% | 69.0% |
| EW | $49.50B | 46.6 | 11.6% | 17.7% | 10.6% | 78.0% |
| BDX | — | 25.3 | 8.2% | 7.7% | 6.5% | — |
| IDXX | $53.93B | 51.7 | 10.4% | 24.6% | 69.2% | 61.8% |
| DXCM | $25.54B | 31.8 | 15.6% | 17.9% | 31.4% | 60.1% |
| GEHC | — | 18.0 | 4.8% | 10.1% | 22.1% | 40.0% |
| RMD | $28.11B | 18.7 | 9.8% | 26.9% | 23.6% | 61.1% |
| ZBH | $28.66B | 25.3 | 7.2% | 8.6% | 5.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.12B | $22.59B | $20.50B | $18.45B | $17.11B | $14.35B | $14.88B | $13.60B | $12.44B | $11.32B | $9.95B | $9.68B | |
| Cost of Revenue | $9.05B | $8.15B | $7.44B | $6.87B | $6.14B | $5.29B | $5.19B | $4.66B | $4.26B | $3.82B | $3.34B | $3.32B | |
| Gross Profit | $16.07B | $14.44B | $13.06B | $11.58B | $10.97B | $9.06B | $9.70B | $8.94B | $8.18B | $7.50B | $6.60B | $6.36B | |
| R&D Expense | $1.62B | $1.47B | $1.39B | $1.45B | $1.24B | $984M | $971M | $862M | $787M | $715M | $625M | $614M | |
| SG&A Expense | $8.65B | $7.68B | $7.11B | $6.39B | $6.43B | $5.36B | $5.36B | $5.10B | $4.55B | $4.14B | $3.61B | $3.55B | |
| Operating Expenses | $11.18B | $10.75B | $9.17B | $8.74B | $8.38B | $6.83B | $6.98B | $6.40B | $5.88B | $5.33B | $4.74B | $5.11B | |
| Operating Income | $4.89B | $3.69B | $3.89B | $2.84B | $2.58B | $2.22B | $2.71B | $2.54B | $2.30B | $2.17B | $1.86B | $1.25B | |
| Other Non-op | $232M | $212M | $148M | $-158M | $-303M | $-269M | $-151M | $-181M | $-234M | $-254M | $-126M | $-86M | |
| Pretax Income | $4.51B | $3.49B | $3.67B | $2.68B | $2.28B | $1.95B | $2.56B | $2.36B | $2.06B | $1.92B | $1.74B | $1.16B | |
| Income Tax | $1.27B | $499M | $508M | $325M | $287M | $355M | $479M | $-1.20B | $1.04B | $274M | $296M | $645M | |
| Net Income | $3.25B | $2.99B | $3.17B | $2.36B | $1.99B | $1.60B | $2.08B | $3.55B | $1.02B | $1.65B | $1.44B | $515M | |
| EPS (Basic) | $8.49 | $7.86 | $8.34 | $6.23 | $5.29 | $4.26 | $5.57 | $9.50 | $2.73 | $4.40 | $3.82 | $1.36 | |
| EPS (Diluted) | $8.40 | $7.76 | $8.25 | $6.17 | $5.21 | $4.20 | $5.48 | $9.34 | $2.68 | $4.35 | $3.78 | $1.34 | |
| Shares (Basic) | 382,200,000 | 381,000,000 | 379,600,000 | 378,200,000 | 377,000,000 | 375,500,000 | 374,000,000 | 374,100,000 | 374,000,000 | 374,100,000 | 376,600,000 | 378,500,000 | |
| Shares (Diluted) | 386,500,000 | 385,600,000 | 383,700,000 | 382,200,000 | 382,300,000 | 380,300,000 | 379,900,000 | 380,300,000 | 380,100,000 | 378,500,000 | 380,900,000 | 382,800,000 | |
| EBITDA | $6.46B | $5.12B | $5.23B | $4.12B | $3.86B | $3.30B | $3.76B | $3.50B | $3.15B | $2.92B | $2.45B | $1.25B |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.01B | $3.65B | $2.97B | $1.84B | $2.94B | $2.94B | $4.34B | $3.62B | $2.54B | $3.32B | $3.38B | $1.79B | |
| Short-term Investments | · | · | · | · | · | · | $88M | $83M | $251M | $68M | $700M | $3.21B | |
| Receivables | $4.04B | $3.99B | $3.77B | $3.56B | $3.02B | $2.70B | $2.89B | $2.33B | $2.20B | $1.97B | $1.66B | $1.57B | |
| Inventory | $5.31B | $4.77B | $4.84B | $4.00B | $3.31B | $3.49B | $2.98B | $2.96B | $2.46B | $2.03B | $1.64B | $1.59B | |
| Prepaid Expense | $1.31B | $1.59B | $857M | $787M | $662M | $488M | $760M | $747M | $537M | $480M | $563M | $524M | |
| Current Assets | $14.76B | $14.85B | $12.52B | $10.28B | $10.02B | $9.71B | $11.06B | $9.73B | $7.99B | $7.86B | $7.94B | $8.68B | |
| PP&E (Net) | $3.88B | $3.45B | $3.21B | $2.97B | $2.83B | $2.75B | $2.57B | $2.29B | $1.98B | $1.57B | $1.20B | $1.10B | |
| PP&E (Gross) | $7.54B | $6.68B | $6.34B | $5.80B | $5.50B | $5.18B | $4.71B | $4.28B | $3.80B | $3.16B | $2.73B | $2.60B | |
| Accum. Depreciation | $3.66B | $3.23B | $3.13B | $2.83B | $2.67B | $2.43B | $2.15B | $1.99B | $1.82B | $1.59B | $1.53B | $1.50B | |
| Goodwill | $19.29B | $15.86B | $15.24B | $14.88B | $12.92B | $12.78B | $9.07B | $8.56B | $7.17B | $6.36B | $4.14B | $4.19B | |
| Intangibles | $5.68B | $4.39B | $4.59B | $4.88B | $4.84B | $5.55B | $4.23B | $4.16B | $3.48B | $3.51B | $1.79B | $2.02B | |
| Other Non-current Assets | $3.14B | $2.68B | $2.67B | $2.46B | $2.26B | $2.01B | $1.67B | $801M | $1.30B | $1.14B | $1.15B | $1.29B | |
| Total Assets | $47.84B | $42.97B | $39.91B | $36.88B | $34.63B | $34.33B | $30.17B | $27.23B | $22.20B | $20.43B | $16.22B | $17.26B | |
| Short-term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $200M | $0 | · | |
| Current Liabilities | $7.79B | $7.62B | $7.92B | $6.30B | $4.55B | $5.04B | $4.40B | $4.81B | $3.48B | $3.15B | $3.50B | $4.46B | |
| Capital Leases | $348M | $379M | $356M | $357M | $310M | $325M | $301M | · | · | · | · | · | |
| Deferred Tax | $137M | $82M | $63M | $67M | $68M | $117M | $108M | $54M | $47M | $55M | $35M | $42M | |
| Other Non-current Liabilities | $2.37B | $2.18B | $1.93B | $1.47B | $1.82B | $1.99B | $1.66B | $978M | $881M | $764M | $980M | $977M | |
| Total Liabilities | $25.42B | $22.34B | $21.32B | $20.27B | $19.75B | $21.25B | $17.36B | $15.50B | $12.22B | $10.88B | $7.71B | · | |
| Total Debt | $14.86B | $12.19B | $10.90B | $11.86B | $12.47B | $13.23B | $10.23B | $8.49B | $6.59B | $6.89B | $3.25B | $3.25B | |
| Retained Earnings | $20.47B | $18.53B | $16.77B | $14.77B | $13.48B | $12.46B | $11.75B | $10.77B | $8.99B | $8.84B | $7.79B | $7.56B | |
| AOCI | $-687M | $-293M | $-416M | $-221M | $-531M | $-1.16B | $-606M | $-631M | $-553M | $-761M | $-639M | $-254M | |
| Stockholders' Equity | $22.42B | $20.63B | $18.59B | $16.62B | $14.88B | $13.08B | $12.81B | $11.73B | $9.98B | $9.55B | $8.51B | $8.60B | |
| Liabilities + Equity | $47.84B | $42.97B | $39.91B | $36.88B | $34.63B | $34.33B | $30.17B | $27.23B | $22.20B | $20.43B | $16.22B | $17.28B | |
| Shares Outstanding | 382,500,000 | 381,400,000 | 380,100,000 | 378,700,000 | 377,500,000 | 376,100,000 | 374,500,000 | 374,400,000 | 374,400,000 | 374,600,000 | 373,000,000 | 378,600,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1.57B | $1.43B | $1.34B | $1.28B | $1.27B | $1.08B | $1.04B | $966M | $859M | $752M | $590M | $586M | |
| Stock-based Comp | $243M | $229M | $205M | $168M | $171M | $142M | $127M | $119M | $113M | $97M | $86M | $77M | |
| Deferred Tax | $392M | $-370M | $-206M | $58M | $-237M | $48M | $126M | $-1.58B | $36M | $-46M | $87M | $60M | |
| Amort. of Intangibles | $732M | $623M | $635M | $627M | $619M | $472M | $464M | $417M | $371M | $319M | $210M | $188M | |
| Other Non-cash | $-407M | $-36M | $-794M | $-1.24B | $63M | $412M | $-1.19B | $-446M | $-469M | $-638M | $-1.30B | · | |
| Operating Cash Flow | $5.04B | $4.24B | $3.71B | $2.62B | $3.26B | $3.28B | $2.19B | $2.61B | $1.56B | $1.92B | $981M | $1.78B | |
| CapEx | $761M | $755M | $575M | $588M | $525M | $487M | $649M | $572M | $598M | $490M | $270M | $233M | |
| Investing Cash Flow | $-4.87B | $-3.00B | $-962M | $-2.92B | $-859M | $-4.70B | $-1.46B | $-2.86B | $-1.61B | $-4.19B | $1.96B | $-1.88B | |
| Debt Issued | $2.98B | $3.01B | $1.24B | $1.50B | $5M | $3.29B | $2.64B | $3.13B | $499M | $3.45B | $744M | $986M | |
| Net Debt Issued | $1.58B | $972M | $-817M | $847M | $-1.15B | $995M | $1.30B | $2.46B | $499M | $3.45B | $744M | $986M | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $307M | $300M | $230M | $13M | $700M | $100M | |
| Net Stock Activity | · | · | · | · | $0 | $0 | $-307M | $-300M | $-230M | $-13M | $-700M | $-100M | |
| Dividends Paid | $1.28B | $1.22B | $1.14B | $1.05B | $950M | $863M | $778M | $703M | $636M | $568M | $521M | $462M | |
| Financing Cash Flow | $113M | $-525M | $-1.59B | $-749M | $-2.37B | $-11M | $3M | $1.33B | $-794M | $2.26B | $-1.22B | $629M | |
| Net Change in Cash | $359M | $681M | $1.13B | $-1.10B | $1M | $-1.39B | $721M | $1.07B | $-774M | $-63M | $1.58B | $456M | |
| Taxes Paid | $1.00B | $989M | $693M | $505M | $622M | $323M | $457M | $539M | $312M | $510M | $497M | $437M | |
| Free Cash Flow | $4.28B | $3.49B | $3.14B | $2.04B | $2.74B | $2.79B | $1.54B | $2.04B | $961M | $1.32B | $629M | $1.55B |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.0% | 63.9% | 63.7% | 62.8% | 64.1% | 63.1% | 65.1% | 65.7% | 65.7% | 66.2% | 66.4% | 66.0% | |
| Operating Margin | 19.5% | 16.3% | 19.0% | 15.4% | 15.1% | 15.5% | 18.2% | 18.6% | 18.4% | 19.1% | 18.7% | 12.9% | |
| Net Margin | 12.9% | 13.2% | 15.4% | 12.8% | 11.7% | 11.1% | 14.0% | 26.1% | 8.2% | 14.5% | 14.5% | 5.3% | |
| Pretax Margin | 18.0% | 15.4% | 17.9% | 14.5% | 13.3% | 13.6% | 17.2% | 17.3% | 16.6% | 17.0% | 17.4% | 12.0% | |
| EBITDA Margin | 25.7% | 22.6% | 25.5% | 22.3% | 22.5% | 23.0% | 25.2% | 25.8% | 25.3% | 25.8% | 24.6% | 12.9% | |
| ROA | 7.1% | 7.2% | 8.2% | 6.6% | 5.8% | 5.0% | 7.3% | 14.4% | 4.8% | 9.0% | 8.6% | 3.1% | |
| ROE | 15.1% | 14.7% | 17.3% | 14.3% | 13.7% | 12.3% | 16.6% | 32.9% | 10.4% | 18.2% | 16.8% | 5.8% | |
| ROIC | 9.4% | 9.6% | 11.4% | 8.8% | 8.3% | 6.9% | 9.6% | 18.9% | 6.8% | 11.3% | 13.1% | 4.7% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 1.9 | 1.6 | 1.6 | 2.2 | 1.9 | 2.6 | 2.0 | 2.3 | 2.5 | 2.3 | 2.2 | |
| Quick Ratio | 1.0 | 1.0 | 0.9 | 0.9 | 1.3 | 1.1 | 1.7 | 1.3 | 1.4 | 1.7 | 1.6 | 1.5 | |
| Debt / Equity | 0.7 | 0.6 | 0.6 | 0.7 | 0.8 | 1.0 | 0.8 | 0.7 | 0.7 | 0.7 | 0.4 | 0.4 | |
| LT Debt / Equity | 0.7 | 0.6 | 0.6 | 0.7 | 0.8 | 1.0 | 0.8 | 0.7 | 0.7 | 0.7 | 0.4 | 0.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | |
| Inventory Turnover | 1.8 | 1.7 | 1.7 | 1.9 | 1.8 | 1.6 | 1.7 | 1.7 | 1.9 | 2.1 | 2.1 | 2.2 | |
| Receivables Turnover | 6.3 | 5.8 | 5.6 | 5.6 | 6.0 | 5.1 | 5.7 | 6.0 | 6.0 | 6.2 | 6.2 | 6.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.2% | 10.2% | 11.1% | 7.8% | 19.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 10.8% | 9.7% | 12.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 11.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 8.2% | -5.9% | 33.7% | 18.4% | 24.1% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 10.8% | 14.2% | 25.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 14.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 8.5% | -5.4% | 34.2% | 18.2% | 24.7% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 11.2% | 14.5% | 25.6% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 15.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 8.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $25.12B | $22.59B | $20.50B | $18.45B | $17.11B | $14.35B | $14.88B | $13.60B | $12.44B | $11.32B | $9.95B | $9.68B | |
| Net Income TTM | $3.25B | $2.99B | $3.17B | $2.36B | $1.99B | $1.60B | $2.08B | $3.55B | $1.02B | $1.65B | $1.44B | $515M | |
| Market Cap | $134.44B | $137.32B | $113.82B | $92.59B | $100.95B | $92.16B | $78.62B | $58.69B | $57.97B | $44.93B | $34.67B | $35.7K | |
| Enterprise Value | $145.29B | $145.86B | $121.75B | $102.60B | $110.48B | $102.45B | $84.43B | $63.47B | $61.77B | $48.43B | $33.84B | $-1.75B | |
| P/E | 41.8 | 46.4 | 36.3 | 39.6 | 51.3 | 58.3 | 38.3 | 16.8 | 57.8 | 27.5 | 24.6 | 70.4 | |
| P/S | 5.4 | 6.1 | 5.6 | 5.0 | 5.9 | 6.4 | 5.3 | 4.3 | 4.7 | 4.0 | 3.5 | 0.0 | |
| P/B | 6.0 | 6.7 | 6.1 | 5.6 | 6.8 | 7.0 | 6.1 | 5.0 | 5.8 | 4.7 | 4.1 | 0.0 | |
| P / Tangible Book | · | 357.6 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 26.7 | 32.4 | 30.7 | 35.3 | 30.9 | 28.1 | 35.9 | 22.5 | 37.2 | 24.8 | 38.6 | 0.0 | |
| P / FCF | 31.4 | 39.4 | 36.3 | 45.5 | 36.9 | 33.0 | 51.0 | 28.8 | 60.3 | 34.0 | 55.1 | 0.0 | |
| EV / EBITDA | 22.5 | 28.5 | 23.3 | 24.9 | 28.7 | 31.1 | 22.5 | 18.1 | 19.6 | 16.6 | 13.8 | -1.4 | |
| EV / FCF | 33.9 | 41.8 | 38.8 | 50.4 | 40.4 | 36.7 | 54.8 | 31.1 | 64.3 | 36.6 | 53.8 | -1.1 | |
| EV / Revenue | 5.8 | 6.5 | 5.9 | 5.6 | 6.5 | 7.1 | 5.7 | 4.7 | 5.0 | 4.3 | 3.4 | -0.2 | |
| Dividend Yield | 0.96% | 0.89% | 1.0% | 1.1% | 0.94% | 0.94% | 0.99% | 1.2% | 1.1% | 1.3% | 1.5% | 1295687.7% | |
| Earnings Yield | 2.4% | 2.2% | 2.8% | 2.5% | 1.9% | 1.7% | 2.6% | 6.0% | 1.7% | 3.6% | 4.1% | 1.4% | |
| Payout Ratio | 39.6% | 40.7% | 36.0% | 44.6% | 47.6% | 54.0% | 37.4% | 19.8% | 62.4% | 34.5% | 36.2% | 89.7% | |
| Annual Payout | $1.28B | $1.22B | $1.14B | $1.05B | $950M | $863M | $778M | $703M | $636M | $568M | $521M | $462M |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.59B | $6.02B | $7.17B | $6.06B | $6.02B | $5.87B | $6.44B | $5.49B | $5.42B | $5.24B | $5.82B | $4.91B | $5.00B | $4.78B | $5.20B | $4.48B | |
| Cost of Revenue | $2.09B | $2.21B | $2.54B | $2.21B | $2.18B | $2.12B | $2.26B | $1.98B | $2.01B | $1.91B | $2.11B | $1.75B | $1.81B | $1.76B | $1.97B | $1.70B | |
| Gross Profit | $4.50B | $3.81B | $4.63B | $3.85B | $3.84B | $3.74B | $4.17B | $3.52B | $3.42B | $3.33B | $3.70B | $3.16B | $3.18B | $3.02B | $3.24B | $2.78B | |
| R&D Expense | $434M | $413M | $401M | $410M | $407M | $405M | $358M | $377M | $363M | $368M | $350M | $353M | $346M | $339M | $326M | $364M | |
| SG&A Expense | $2.23B | $2.28B | $2.23B | $2.04B | $2.08B | $2.30B | $2.12B | $1.89B | $1.83B | $1.84B | $1.91B | $1.71B | $1.71B | $1.78B | $1.68B | $1.46B | |
| Operating Expenses | $2.84B | $2.87B | $2.82B | $2.72B | $2.73B | $2.91B | $3.59B | $2.43B | $2.37B | $2.36B | $2.45B | $2.23B | $2.22B | $2.28B | $2.42B | $1.97B | |
| Operating Income | $1.66B | $936M | $1.80B | $1.14B | $1.11B | $837M | $581M | $1.08B | $1.05B | $972M | $1.26B | $931M | $965M | $735M | $814M | $808M | |
| Other Non-op | $46M | $62M | $508M | $-106M | $62M | $64M | $356M | $-42M | $-53M | $-49M | $332M | $-62M | $-66M | $-56M | $-53M | $8M | |
| Pretax Income | $1.56B | $850M | $1.71B | $1.03B | $1.02B | $764M | $528M | $1.04B | $998M | $923M | $1.23B | $869M | $899M | $679M | $761M | $816M | |
| Income Tax | $288M | $105M | $856M | $170M | $132M | $110M | $-18M | $209M | $173M | $135M | $83M | $177M | $161M | $87M | $198M | $0 | |
| Net Income | $1.28B | $745M | $849M | $859M | $884M | $654M | $546M | $834M | $825M | $788M | $1.14B | $692M | $738M | $592M | $563M | $816M | |
| EPS (Basic) | $3.32 | $1.95 | $2.21 | $2.25 | $2.32 | $1.71 | $1.43 | $2.18 | $2.17 | $2.07 | $3.01 | $1.82 | $1.95 | $1.56 | $1.48 | $2.16 | |
| EPS (Diluted) | $3.30 | $1.93 | $2.20 | $2.22 | $2.29 | $1.69 | $1.41 | $2.16 | $2.14 | $2.05 | $2.98 | $1.80 | $1.93 | $1.54 | $1.47 | $2.14 | |
| Shares (Basic) | 383,500,000 | 382,900,000 | -764,100,000 | 382,400,000 | 382,200,000 | 381,700,000 | -761,500,000 | 381,100,000 | 381,000,000 | 380,400,000 | -758,900,000 | 379,800,000 | 379,700,000 | 379,000,000 | -756,200,000 | 378,400,000 | |
| Shares (Diluted) | 386,000,000 | 386,500,000 | -773,000,000 | 386,700,000 | 386,400,000 | 386,400,000 | -770,500,000 | 385,600,000 | 385,400,000 | 385,100,000 | -767,400,000 | 384,000,000 | 383,900,000 | 383,200,000 | -764,500,000 | 381,800,000 | |
| EBITDA | $2.06B | $1.33B | · | $1.54B | $1.50B | $1.20B | · | $1.08B | $1.05B | $972M | · | $931M | $965M | $735M | · | $808M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.39B | $2.88B | $4.01B | $3.26B | $2.38B | $2.32B | $3.65B | $3.85B | $1.87B | $2.33B | · | $1.86B | $1.40B | $1.67B | · | $1.42B | |
| Receivables | $3.74B | $3.57B | $4.04B | $3.64B | $3.92B | $3.96B | $3.99B | $3.74B | $3.62B | $3.47B | · | $3.28B | $3.26B | $3.21B | · | $3.10B | |
| Inventory | $5.52B | $5.42B | $5.31B | $5.37B | $5.29B | $5.11B | $4.77B | $5.29B | $5.04B | $5.03B | · | $4.88B | $4.59B | $4.33B | · | $3.88B | |
| Prepaid Expense | $1.68B | $1.38B | $1.31B | $1.35B | $1.33B | $1.55B | $1.59B | $961M | $1.02B | $986M | · | $950M | $819M | $850M | · | $835M | |
| Current Assets | $14.42B | $13.34B | $14.76B | $13.71B | $13.00B | $13.02B | $14.85B | $14.67B | $11.64B | $11.89B | · | $11.04B | $10.15B | $10.15B | · | $9.32B | |
| PP&E (Net) | $3.96B | $3.89B | $3.88B | $3.73B | $3.70B | $3.54B | $3.45B | $3.43B | $3.32B | $3.26B | · | $3.11B | $3.08B | $3.04B | · | $2.80B | |
| PP&E (Gross) | $7.81B | $7.63B | $7.54B | $7.41B | $7.27B | $6.91B | $6.68B | $6.89B | $6.62B | $6.46B | · | $6.16B | $6.09B | $5.97B | · | $5.53B | |
| Accum. Depreciation | $3.85B | $3.74B | $3.66B | $3.67B | $3.57B | $3.37B | $3.23B | $3.46B | $3.30B | $3.20B | · | $3.05B | $3.00B | $2.93B | · | $2.74B | |
| Goodwill | $19.58B | $19.19B | $19.29B | $19.26B | $19.18B | $19.09B | $15.86B | $16.40B | $15.41B | $15.35B | $15.24B | $15.14B | $15.17B | $14.85B | $14.88B | $14.99B | |
| Intangibles | $5.74B | $5.52B | $5.68B | $5.84B | $5.96B | $6.13B | $4.39B | $4.94B | $4.36B | $4.51B | · | $4.73B | $4.92B | $4.78B | · | $5.05B | |
| Other Non-current Assets | $3.23B | $3.17B | $3.14B | $3.14B | $3.11B | $2.82B | $2.68B | $2.83B | $2.79B | $2.75B | · | $2.62B | $2.65B | $2.57B | · | $2.43B | |
| Total Assets | $47.93B | $46.29B | $47.84B | $47.06B | $46.33B | $46.01B | $42.97B | $43.83B | $39.13B | $39.40B | · | $38.04B | $37.41B | $36.83B | · | $35.98B | |
| Short-term Debt | $250M | · | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Current Liabilities | $6.68B | $6.32B | $7.79B | $7.41B | $7.29B | $7.93B | $7.62B | $7.67B | $6.93B | $6.96B | · | $7.46B | $6.58B | $5.87B | · | $4.57B | |
| Capital Leases | $345M | $350M | $348M | $377M | $389M | $414M | $379M | $374M | $379M | $378M | · | $369M | $363M | $367M | · | $349M | |
| Deferred Tax | · | · | $137M | · | · | · | $82M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $2.66B | $2.37B | $2.37B | $2.61B | $2.63B | $2.39B | $2.18B | $2.32B | $1.97B | $1.90B | · | $1.83B | $1.85B | $1.59B | · | $1.58B | |
| Total Liabilities | $23.94B | $23.31B | $25.42B | $25.27B | $25.14B | $25.08B | $22.34B | $23.68B | $19.37B | $20.23B | · | $20.14B | $20.05B | $19.93B | · | $19.52B | |
| Total Debt | $14.44B | $14.22B | · | $14.85B | $14.83B | $14.38B | · | $13.32B | $10.13B | $10.81B | · | $10.38B | $11.15B | $11.86B | · | $12.75B | |
| Retained Earnings | $21.82B | $20.88B | $20.47B | $19.96B | $19.42B | $18.86B | $18.53B | $18.30B | $17.77B | $17.25B | · | $15.93B | $15.53B | $15.07B | · | $14.49B | |
| AOCI | $-576M | $-583M | $-687M | $-766M | $-762M | $-409M | $-293M | $-545M | $-355M | $-377M | · | $-249M | $-330M | $-305M | $-221M | $-89M | |
| Stockholders' Equity | $23.99B | $22.98B | $22.42B | $21.79B | $21.19B | $20.93B | $20.63B | $20.15B | $19.76B | $19.17B | $18.59B | $17.91B | $17.36B | $16.89B | $16.62B | $16.46B | |
| Liabilities + Equity | $47.93B | $46.29B | $47.84B | $47.06B | $46.33B | $46.01B | $42.97B | $43.83B | $39.13B | $39.40B | · | $38.04B | $37.41B | $36.83B | · | $35.98B | |
| Shares Outstanding | 383,500,000 | 383,400,000 | 382,500,000 | 382,400,000 | 382,300,000 | 382,100,000 | 381,400,000 | 381,200,000 | 381,100,000 | 380,900,000 | 380,100,000 | 379,900,000 | 379,800,000 | 379,600,000 | 378,700,000 | 378,400,000 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $404M | $397M | $416M | $404M | $387M | $361M | $346M | $371M | $354M | $355M | · | · | · | · | · | · | |
| Stock-based Comp | $54M | $87M | $48M | $62M | $49M | $84M | $45M | $51M | $46M | $87M | $40M | $52M | $39M | $74M | $28M | $33M | |
| Deferred Tax | $107M | $-33M | $201M | $15M | $162M | $14M | $-349M | $10M | $8M | $-39M | $-202M | $-6M | $5M | $-3M | · | · | |
| Amort. of Intangibles | $175M | $180M | $189M | $189M | $187M | $167M | $156M | $159M | $155M | $153M | $149M | $164M | $161M | $161M | $158M | $159M | |
| Other Non-cash | · | $-615M | · | · | · | $-863M | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $1.26B | $581M | $2.14B | $1.54B | $1.11B | $250M | $1.93B | $1.47B | $633M | $204M | $1.53B | $1.05B | $688M | $445M | $1.00B | $889M | |
| CapEx | $202M | $166M | $268M | $187M | $183M | $123M | $266M | $170M | $152M | $167M | $145M | $148M | $152M | $130M | $188M | $138M | |
| Investing Cash Flow | $-639M | $-185M | $-305M | $-321M | $-104M | $-4.14B | $-303M | $-2.17B | $-117M | $-408M | $-152M | $-145M | $-533M | $-132M | $-162M | $72M | |
| Debt Issued | $0 | $0 | $0 | $0 | $0 | $2.98B | $0 | $3.01B | $0 | $0 | $1.24B | $0 | $0 | $0 | $0 | $0 | |
| Net Debt Issued | · | $-1.00B | · | · | · | $2.98B | · | · | · | $0 | · | · | · | $-100M | · | · | |
| Dividends Paid | $337M | $337M | $321M | $322M | $321M | $320M | $305M | $305M | $305M | $304M | $285M | $285M | $285M | $284M | $263M | $263M | |
| Financing Cash Flow | $-95M | $-1.51B | $-1.09B | $-339M | $-989M | $2.53B | $-1.79B | $2.65B | $-966M | $-418M | $-286M | $-422M | $-405M | $-481M | $-446M | $-543M | |
| Net Change in Cash | $513M | $-1.13B | $755M | $881M | $55M | $-1.33B | $-198M | $1.98B | $-456M | $-641M | $1.11B | $459M | $-270M | $-173M | $424M | $376M | |
| Free Cash Flow | · | $415M | · | · | · | $127M | · | · | · | $37M | · | · | · | $315M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3% | 63.3% | · | 63.6% | 63.8% | 63.8% | · | 64.0% | 63.0% | 63.6% | · | 64.3% | 63.7% | 63.1% | · | 62.1% | |
| Operating Margin | 25.2% | 15.6% | · | 18.7% | 18.5% | 14.3% | · | 19.8% | 19.4% | 18.5% | · | 19.0% | 19.3% | 15.4% | · | 18.0% | |
| Net Margin | 19.4% | 12.4% | · | 14.2% | 14.7% | 11.2% | · | 15.2% | 15.2% | 15.0% | · | 14.1% | 14.8% | 12.4% | · | 18.2% | |
| Pretax Margin | 23.7% | 14.1% | · | 17.0% | 16.9% | 13.0% | · | 19.0% | 18.4% | 17.6% | · | 17.7% | 18.0% | 14.2% | · | 18.2% | |
| EBITDA Margin | 31.3% | 22.1% | · | 25.4% | 24.9% | 20.4% | · | 19.8% | 19.4% | 18.5% | · | 19.0% | 19.3% | 15.4% | · | 18.0% | |
| ROA | 2.7% | 1.6% | · | 1.9% | 2.1% | 1.5% | · | 2.0% | 2.2% | 2.1% | · | 1.9% | 2.0% | 1.6% | · | 2.3% | |
| ROE | 5.7% | 3.4% | · | 4.1% | 4.3% | 3.3% | · | 4.4% | 4.4% | 4.4% | · | 4.0% | 4.5% | 3.7% | · | 5.3% | |
| ROIC | 3.5% | 2.2% | · | 2.6% | 2.7% | 2.0% | · | 2.6% | 2.9% | 2.8% | · | 2.6% | 2.8% | 2.2% | · | 2.8% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.2 | 2.1 | · | 1.8 | 1.8 | 1.6 | · | 1.9 | 1.7 | 1.7 | · | 1.5 | 1.5 | 1.7 | · | 2.0 | |
| Quick Ratio | 1.1 | 1.0 | · | 0.9 | 0.9 | 0.8 | · | 1.0 | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.8 | · | 1.0 | |
| Debt / Equity | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.5 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.8 | |
| LT Debt / Equity | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.5 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.8 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | |
| Receivables Turnover | 1.7 | 1.6 | · | 1.6 | 1.6 | 1.6 | · | 1.6 | 1.6 | 1.6 | · | 1.5 | 1.6 | 1.5 | · | 1.5 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $25.84B | $25.27B | · | $24.38B | $23.82B | $23.22B | · | $21.97B | $21.39B | $20.96B | · | $19.89B | $19.45B | $18.95B | · | $17.95B | |
| Net Income TTM | $3.73B | $3.34B | · | $2.94B | $2.92B | $2.86B | · | $3.59B | $3.45B | $3.36B | · | $2.58B | $2.71B | $2.63B | · | $2.46B | |
| Market Cap | $120.74B | $125.98B | · | $141.36B | $151.25B | $142.24B | · | $137.71B | $129.67B | $136.31B | · | $103.82B | $115.87B | $108.36B | · | $76.64B | |
| Enterprise Value | $131.79B | $137.33B | · | $152.95B | $163.70B | $154.30B | · | $147.19B | $137.92B | $144.79B | · | $112.34B | $125.62B | $118.55B | · | $87.97B | |
| P/E | 32.6 | 38.0 | · | 48.6 | 52.4 | 50.3 | · | 38.7 | 37.9 | 40.9 | · | 40.5 | 43.1 | 41.6 | · | 31.5 | |
| P/S | 4.7 | 5.0 | · | 5.8 | 6.4 | 6.1 | · | 6.3 | 6.1 | 6.5 | · | 5.2 | 6.0 | 5.7 | · | 4.3 | |
| P/B | 5.0 | 5.5 | · | 6.5 | 7.1 | 6.8 | · | 6.8 | 6.6 | 7.1 | · | 5.8 | 6.7 | 6.4 | · | 4.7 | |
| P / Cash Flow | · | 216.8 | · | · | · | 568.9 | · | · | · | 668.2 | · | · | · | 243.5 | · | · | |
| P / FCF | · | 303.6 | · | · | · | 1120.0 | · | · | · | 3684.1 | · | · | · | 344.0 | · | · | |
| EV / EBITDA | 63.9 | 103.0 | · | 99.4 | 109.0 | 128.8 | · | 135.7 | 131.2 | 149.0 | · | 120.7 | 130.2 | 161.3 | · | 108.9 | |
| EV / FCF | · | 330.9 | · | · | · | 1215.0 | · | · | · | 3913.2 | · | · | · | 376.4 | · | · | |
| EV / Revenue | 5.1 | 5.4 | · | 6.3 | 6.9 | 6.6 | · | 6.7 | 6.4 | 6.9 | · | 5.6 | 6.5 | 6.3 | · | 4.9 | |
| Earnings Yield | 3.1% | 2.6% | · | 2.1% | 1.9% | 2.0% | · | 2.6% | 2.6% | 2.5% | · | 2.5% | 2.3% | 2.4% | · | 3.2% | |
| Payout Ratio | · | 45.2% | · | · | · | 48.9% | · | · | · | 38.6% | · | · | · | 48.0% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $25.12B | $22.59B | $20.50B | $18.45B | $17.11B |
| Gross Margin % | 64.0% | 63.9% | 63.7% | 62.8% | 64.1% |
| Operating Margin % | 19.5% | 16.3% | 19.0% | 15.4% | 15.1% |
| Net Income | $3.25B | $2.99B | $3.17B | $2.36B | $1.99B |
| Diluted EPS | $8.40 | $7.76 | $8.25 | $6.17 | $5.21 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.7 | 0.6 | 0.6 | 0.7 | 0.8 |
| Current Ratio | 1.9 | 1.9 | 1.6 | 1.6 | 2.2 |
| Quick Ratio | 1.0 | 1.0 | 0.9 | 0.9 | 1.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $4.28B | $3.49B | $3.14B | $2.04B | $2.74B |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 2,495 filers · $60.0B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 161 (-30 vs prior Q) | 163 (+17 vs prior Q) | 904 (-16 vs prior Q) | 850 (-31 vs prior Q) | +49.6M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $7,095,499,650 | 22,536,843 | 11.82% | Shares |
| STATE STREET CORP | $4,903,772,337 | 15,532,565 | 8.17% | Shares |
| GREENLEAF TRUST | $4,747,137,370 | 15,077,936 | 7.91% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,573,239,898 | 8,173,167 | 4.29% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $2,477,172,454 | 7,868,036 | 4.13% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,094,315,890 | 6,688,623 | 3.49% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,616,485,690 | 4,919,461 | 2.69% | Shares |
| NORGES BANK | $1,540,390,907 | 4,892,615 | 2.57% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $1,033,370,052 | 3,282,207 | 1.72% | Shares |
| First Western Trust Bank | $949,793,983 | 3,016,751 | 1.58% | Shares |
| Fundsmith LLP | $917,391,182 | 2,913,833 | 1.53% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $676,529,137 | 2,148,803 | 1.13% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $609,963,775 | 1,937,377 | 1.02% | Shares |
| PARNASSUS INVESTMENTS, LLC | $605,913,988 | 1,924,514 | 1.01% | Shares |
| Capital Research Global Investors | $509,151,692 | 1,617,176 | 0.85% | Shares |
| FLOSSBACH VON STORCH SE | $464,505,806 | 1,475,371 | 0.77% | Shares |
| AMERIPRISE FINANCIAL INC | $428,755,327 | 1,361,528 | 0.71% | Shares |
| Clearbridge Investments, LLC | $372,273,147 | 1,182,420 | 0.62% | Shares |
| 1832 Asset Management L.P. | $364,170,391 | 1,156,684 | 0.61% | Shares |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | $362,407,566 | 1,151,085 | 0.60% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $353,269,986 | 1,122,062 | 0.59% | Shares |
| FUNDSMITH INVESTMENT SERVICES LTD. | $330,766,181 | 1,050,585 | 0.55% | Shares |
| Swiss National Bank | $306,081,151 | 972,180 | 0.51% | Shares |
| UBS Group AG | $295,139,517 | 937,427 | 0.49% | Shares |
| FMR LLC | $291,965,212 | 927,345 | 0.49% | Shares |
| GOLDMAN SACHS GROUP INC | $286,077,162 | 908,643 | 0.48% | Shares |
| BlackRock, Inc. | $281,643,270 | 894,560 | 0.47% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $270,641,600 | 859,544 | 0.45% | Shares |
| Legal & General Group Plc | $267,931,359 | 851,008 | 0.45% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $266,804,861 | 847,430 | 0.44% | Shares |
| Vanguard Global Advisers, LLC | $234,437,735 | 744,625 | 0.39% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $233,360,982 | 741,205 | 0.39% | Shares |
| National Pension Service | $227,058,200 | 721,186 | 0.38% | Shares |
| RAYMOND JAMES FINANCIAL INC | $225,508,292 | 716,263 | 0.38% | Shares |
| BANK OF AMERICA CORP /DE/ | $224,779,704 | 713,949 | 0.37% | Shares |
| California Public Employees Retirement System | $219,529,431 | 697,273 | 0.37% | Shares |
| Boston Partners | $219,475,986 | 697,885 | 0.37% | Shares |
| BLAIR WILLIAM & CO/IL | $215,474,067 | 684,392 | 0.36% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $213,421,221 | 677,872 | 0.36% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $212,335,652 | 674,424 | 0.35% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $204,789,899 | 650,461 | 0.34% | Shares |
| NEUBERGER BERMAN GROUP LLC | $204,096,646 | 648,255 | 0.34% | Shares |
| PNC Financial Services Group, Inc. | $198,009,173 | 628,920 | 0.33% | Shares |
| APG Asset Management N.V. | $197,419,798 | 716,904 | 0.33% | Shares |
| VANGUARD GROUP INC | $196,222,186 | 558,290 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $194,175,892 | 616,745 | 0.32% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $188,309,897 | 598,113 | 0.31% | Shares |
| JENSEN INVESTMENT MANAGEMENT INC | $185,651,703 | 589,670 | 0.31% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $177,908,155 | 541,429 | 0.30% | Shares |
| SATURNA CAPITAL CORP | $176,745,963 | 543,257 | 0.29% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $175,323,795 | 533,564 | 0.29% | Shares |
| Alecta Tjanstepension Omsesidigt | $172,500,836 | 547,900 | 0.29% | Shares |
| Fenimore Asset Management Inc | $172,324,466 | 547,340 | 0.29% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $171,861,944 | 545,871 | 0.29% | Shares |
| JANE STREET GROUP, LLC | $169,478,372 | 538,300 | 0.28% | Put option |
| Veritas Asset Management LLP | $168,056,555 | 533,784 | 0.28% | Shares |
| Welch & Forbes LLC | $163,558,119 | 519,496 | 0.27% | Shares |
| Ensign Peak Advisors, Inc | $163,484,763 | 519,263 | 0.27% | Shares |
| GENERATION INVESTMENT MANAGEMENT LLP | $161,307,015 | 512,346 | 0.27% | Shares |
| BARCLAYS PLC | $159,051,499 | 505,182 | 0.26% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $153,804,692 | 488,517 | 0.26% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $153,793,490 | 488,231 | 0.26% | Shares |
| HighTower Advisors, LLC | $153,013,825 | 486,005 | 0.25% | Shares |
| MACKENZIE FINANCIAL CORP | $150,502,650 | 478,029 | 0.25% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $149,340,890 | 474,339 | 0.25% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $147,526,655 | 469,009 | 0.25% | Shares |
| JANE STREET GROUP, LLC | $138,970,376 | 441,400 | 0.23% | Call option |
| Point72 Asset Management, L.P. | $135,410,795 | 430,094 | 0.23% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $135,238,289 | 429,546 | 0.23% | Shares |
| LPL Financial LLC | $132,752,448 | 421,651 | 0.22% | Shares |
| Railway Pension Investments Ltd | $128,366,565 | 407,720 | 0.21% | Shares |
| Stonehage Fleming Financial Services Holdings Ltd | $127,531,923 | 405,069 | 0.21% | Shares |
| Pictet Asset Management Holding SA | $126,442,892 | 401,610 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $126,187,872 | 400,800 | 0.21% | Call option |
| Ilex Capital Partners (UK) LLP | $125,903,886 | 399,898 | 0.21% | Shares |
| SEB Asset Management AB | $125,325,683 | 398,062 | 0.21% | Shares |
| CI INVESTMENTS INC. | $125,223,517 | 397,737 | 0.21% | Shares |
| Fisher Asset Management, LLC | $124,605,910 | 395,774 | 0.21% | Shares |
| FIL Ltd | $123,522,122 | 392,333 | 0.21% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $123,266,472 | 391,521 | 0.21% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $120,451,807 | 367,760 | 0.20% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $119,021,169 | 378,037 | 0.20% | Shares |
| Bank Julius Baer & Co. Ltd, Zurich | $117,962,675 | 371,302 | 0.20% | Shares |
| Baird Financial Group, Inc. | $115,764,464 | 367,693 | 0.19% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $113,773,899 | 341,961 | 0.19% | Shares |
| NOMURA HOLDINGS INC | $111,768,200 | 355,000 | 0.19% | Call option |
| Rathbones Group PLC | $111,283,661 | 353,461 | 0.19% | Shares |
| ROYAL LONDON ASSET MANAGEMENT LTD | $107,192,316 | 340,466 | 0.18% | Shares |
| JENNISON ASSOCIATES LLC | $101,830,276 | 323,435 | 0.17% | Shares |
| AMERICAN CENTURY COMPANIES INC | $100,273,154 | 318,489 | 0.17% | Shares |
| Robeco Institutional Asset Management B.V. | $100,265,206 | 318,464 | 0.17% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $96,812,985 | 307,499 | 0.16% | Shares |
| AVIVA PLC | $94,944,095 | 301,563 | 0.16% | Shares |
| FRANKLIN RESOURCES INC | $92,845,371 | 294,897 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $92,602,630 | 294,126 | 0.15% | Shares |
| DAVENPORT & Co LLC | $90,120,746 | 286,243 | 0.15% | Shares |
| Evelyn Partners Investment Management LLP | $87,224,544 | 265,451 | 0.15% | Shares |
| ABN AMRO Bank N.V. | $86,359,633 | 274,441 | 0.14% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $86,113,437 | 273,515 | 0.14% | Shares |
| Bellevue Group AG | $84,522,261 | 268,461 | 0.14% | Shares |
Company insiders 61 insiders · 30 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kevin Lobo | Chair and CEO | March 21, 2025 M | 122,304 | 0 | 0 | $0 |
| Stephen P Macmillan | President & CEO | Feb. 6, 2012 M | 132,002 | 0 | 0 | $0 |
| Glenn S Boehnlein | VP, Chief Financial Officer | March 21, 2025 M | 11,638 | 0 | 0 | $0 |
| William R Jellison | VP and CFO | Feb. 11, 2015 A | — | 0 | 0 | $0 |
| Dean H Bergy | Interim CFO and VP, Corp Secy | Feb. 21, 2013 M | 24,402 | 0 | 0 | $0 |
| James Andrew Pierce | Group President | March 21, 2025 M | 65,841 | 0 | 0 | $0 |
| Viju Menon | Group President | March 21, 2025 M | 13,011 | 0 | 0 | $0 |
| Timothy J Scannell | President and COO | Aug. 1, 2021 M | 219,707 | 0 | 0 | $0 |
| Lonny J Carpenter | Group President | May 4, 2018 S | 101,675 | 0 | 0 | $0 |
| David Floyd | Group President | May 1, 2018 M | 20,214 | 0 | 0 | $0 |
| Graham A Mclean | President, Asia-Pacific | March 21, 2018 M | 5,670 | 0 | 0 | $0 |
| Ramesh Subrahmanian | Group President | May 1, 2015 A | 20,448 | 0 | 0 | $0 |
| Mogul Michael P | Group President | June 1, 2011 M | 81,321 | 0 | 0 | $0 |
| Andrew Grant Fox-Smith | Group President | May 17, 2011 M | 32,049 | 0 | 0 | $0 |
| James E Kemler | Group President | Jan. 6, 2010 M | 101,112 | 0 | 0 | $0 |
| Stephen Si Johnson | President | Aug. 15, 2008 M | 503,731 | 0 | 0 | $0 |
| Debra King | VP, Chief Digital and Information Officer | Aug. 18, 2026 S | 6,210 | 0 | 1 | $-277,784 |
| Yin C Becker | VP, Chief Corp Affairs Officer | March 21, 2025 M | 33,670 | 0 | 0 | $0 |
| William E Berry Jr | VP, Chief Accounting Officer | March 8, 2024 F | 2,643 | 0 | 0 | $0 |
| Katherine Ann Owen | VP, Strategy and IR | May 6, 2020 M | 1,085 | 0 | 0 | $0 |
| Bijoy Sagar | VP, Chief Digital Tech Officer | May 6, 2019 S | 3,350 | 0 | 0 | $0 |
| Michael David Hutchinson | VP, Chief Legal Officer | March 25, 2019 S | 6,386 | 0 | 0 | $0 |
| Steven P Benscoter | VP, Human Resources | March 24, 2015 S | 4,925 | 0 | 0 | $0 |
| Tony M Mckinney | V.P., Chief Accounting Officer | Feb. 12, 2014 A | 36,753 | 0 | 0 | $0 |
| Scott P Bruder | VP, Chief Med&Scientific Off. | Feb. 12, 2014 A | — | 0 | 0 | $0 |
| Michael W Rude | Vice President,Human Resources | June 7, 2012 S | 507 | 0 | 0 | $0 |
| Curt R Hartman | Interim ChiefExecutiveOfficer | Feb. 22, 2012 M | 29,019 | 0 | 0 | $0 |
| Luciano Cattani | V.P. | Feb. 14, 2007 A | — | 0 | 0 | $0 |
| Thomas R Winkel | V.P. Admin. & Secretary | Feb. 14, 2007 A | 275,000 | 0 | 0 | $0 |
| James R Lawson | V.P. | April 22, 2005 A | 7,538 | 0 | 0 | $0 |
| Mary K Brainerd | Director | May 6, 2026 A | 7,790 | 0 | 0 | $0 |
| Maceda Emmanuel Perez | Director | May 8, 2025 A | 560 | 0 | 0 | $0 |
| Rachel Ruggeri | Director | May 8, 2025 A | 1,239 | 0 | 0 | $0 |
| Tatum Lisa M Skeete | Director | May 8, 2025 A | 4,443 | 0 | 0 | $0 |
| Rajeev Suri | Director | May 8, 2025 A | 6,428 | 0 | 0 | $0 |
| Giovanni Caforio | Director | May 8, 2025 A | 3,768 | 0 | 0 | $0 |
| Andrew K Silvernail | Director | May 8, 2025 A | 14,362 | 0 | 0 | $0 |
| Sherilyn S Mccoy | Director | May 8, 2025 A | 6,428 | 0 | 0 | $0 |
| Allan C. Golston | Director | Feb. 18, 2025 M | 14,895 | 0 | 0 | $0 |
| Srikant M. Datar | Director | Dec. 4, 2023 M | 5,050 | 0 | 0 | $0 |
| Roch Doliveux | Director | May 5, 2021 M | 23,037 | 0 | 0 | $0 |
| Louise Francesconi | Director | May 1, 2020 M | 17,583 | 0 | 0 | $0 |
| COX HOWARD E JR | Director | March 21, 2018 M | 525,452 | 0 | 0 | $0 |
| PARFET WILLIAM U | Director | April 25, 2016 G | 281,291 | 0 | 0 | $0 |
| John S Lillard | Director | April 22, 2005 A | — | 0 | 0 | $0 |
| STRYKER CORP | 10% owner | Feb. 28, 2018 J | 26,012,704 | 0 | 0 | $0 |
| Jon L Stryker | 10% owner | Dec. 19, 2008 G | 4,526,369 | 0 | 0 | $0 |
| Pat Stryker | 10% owner | Aug. 15, 2008 S | 495,388 | 0 | 0 | $0 |
| Mason Elizebeth S Upjohn | 10% owner | Feb. 28, 2006 G | 850,829 | 0 | 0 | $0 |
| Gerard Thomas | 10% owner | Feb. 22, 2006 S | 1,879,026 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| STRYKER RONDA E | April 14, 2026 | 0.00% | Amendment | Passive investment | SEC |
| __Ronda E. Stryker | March 13, 2020 | — | Initial filing | Passive investment | SEC |
| Ronda E. Stryker ×5 filings | Feb. 14, 2020 | — | Initial filing | Passive investment | SEC |
| Stryker Corporation ×6 filings | March 8, 2018 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | Feb. 17, 2011 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | April 16, 2009 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 209 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IHI · iShares Trust | 11.41% | 1,130,986 SH | Aug. 8, 2026 | Daily |
| SEMG · EA Series Trust | 3.71% | 7,126 NS | April 30, 2026 | N-PORT |
| JGRW · Trust for Professional Managers | 3.70% | 11,628 NS | May 31, 2026 | N-PORT |
| AGNG · Global X Funds | 2.78% | 7,469 NS | May 31, 2026 | N-PORT |
| PRCS · Parnassus Funds II | 2.22% | 11,327 NS | June 30, 2026 | N-PORT |
| IYH · iShares Trust | 1.90% | 207,071 SH | Aug. 8, 2026 | Daily |
| FGSI · First Trust Exchange-Traded Fund IV | 1.86% | 177 NS | April 30, 2026 | N-PORT |
| RUNN · Strategic Trust | 1.83% | 20,746 NS | May 31, 2026 | N-PORT |
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 1.80% | 3,048 NS | April 30, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 1.75% | 158,669 NS | April 30, 2026 | N-PORT |
| RSPH · Invesco Exchange-Traded Fund Trust | 1.66% | 38,315 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 1.60% | 1,036,185 SH | Aug. 8, 2026 | Daily |
| JDOC · J.P. Morgan Exchange-Traded Fund Tr… | 1.59% | 562 NS | April 30, 2026 | N-PORT |
| CURE · Direxion Shares ETF Trust | 1.57% | 6,868 NS | April 30, 2026 | N-PORT |
| IWFG · New York Life Investments Active ET… | 1.53% | 2,794 NS | April 30, 2026 | N-PORT |
| RXL · ProShares Trust | 1.52% | 3,593 NS | May 31, 2026 | N-PORT |
| IXJ · iShares Trust | 1.47% | 181,318 SH | Aug. 8, 2026 | Daily |
| FMED · Fidelity Covington Trust | 1.36% | 1,832 NS | May 31, 2026 | N-PORT |
| ESLG · Strategy Shares | 1.36% | 838 NS | April 30, 2026 | N-PORT |
| ESLV · Strategy Shares | 1.27% | 473 NS | April 30, 2026 | N-PORT |
| QIDX · Spinnaker ETF Series | 1.26% | 1,532 NS | April 30, 2026 | N-PORT |
| NULG · Nushares ETF Trust | 1.15% | 95,263 NS | April 30, 2026 | N-PORT |
| JGLO · J.P. Morgan Exchange-Traded Fund Tr… | 1.15% | 259,313 NS | April 30, 2026 | N-PORT |
| SAWG · ETF Series Solutions | 1.13% | 90 NS | April 30, 2026 | N-PORT |
| SPLV · Invesco Exchange-Traded Fund Trust … | 1.07% | 225,868 SH | Aug. 8, 2026 | Daily |
| NULV · Nushares ETF Trust | 1.03% | 67,682 NS | April 30, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.99% | 4,827 NS | April 30, 2026 | N-PORT |
| LRGC · AB Active ETFs, Inc. | 0.95% | 38,827 NS | May 31, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.82% | 12,292 SH | Aug. 8, 2026 | Daily |
| ALTL · Pacer Funds Trust | 0.82% | 2,495 NS | April 30, 2026 | N-PORT |
| HUSV · First Trust Exchange-Traded Fund III | 0.76% | 1,745 NS | April 30, 2026 | N-PORT |
| ZECP · Zacks Trust | 0.75% | 8,398 NS | May 31, 2026 | N-PORT |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 0.73% | 1,993 NS | April 30, 2026 | N-PORT |
| XOEF · iShares Trust | 0.64% | 435 SH | Aug. 8, 2026 | Daily |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.64% | 81,412 NS | April 30, 2026 | N-PORT |
| IIGD · Invesco Exchange-Traded Self-Indexe… | 0.54% | 160,000 | Aug. 8, 2026 | Daily |
| CAPE · DoubleLine ETF Trust | 0.53% | 4,241 NS | March 31, 2026 | N-PORT |
| ESG · FlexShares Trust | 0.52% | 2,108 NS | April 30, 2026 | N-PORT |
| MGV · VANGUARD WORLD FUND | 0.51% | 216,859 SH | Aug. 8, 2026 | Daily |
| CATH · Global X Funds | 0.50% | 19,390 NS | April 30, 2026 | N-PORT |
| VIG · VANGUARD SPECIALIZED FUNDS | 0.47% | 1,949,211 SH | Aug. 8, 2026 | Daily |
| ACIO · ETF Series Solutions | 0.46% | 33,360 NS | April 30, 2026 | N-PORT |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.46% | 12,914,000 | Aug. 8, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.46% | 10,911 SH | Aug. 8, 2026 | Daily |
| ADME · ETF Series Solutions | 0.46% | 3,841 NS | April 30, 2026 | N-PORT |
| USXF · iShares Trust | 0.45% | 20,081 SH | Aug. 8, 2026 | Daily |
| KRMA · Global X Funds | 0.45% | 1,791 NS | May 31, 2026 | N-PORT |
| ESGG · FlexShares Trust | 0.45% | 1,540 NS | April 30, 2026 | N-PORT |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.45% | 15,744,000 | Aug. 8, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.44% | 30,286 NS | April 30, 2026 | N-PORT |