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Stryker Corporation (SYK)
Intrinsic Value (DCF)
Current$355.82
→
Intrinsic$208.44
-41%
$130.74$208.44$363.02
Market implies 28% growth for 5 years
Current price reflects execution expectations above 15% growth — not unreasonable for quality businesses.
At $356, the market prices in continued strong cash flow growth (28%) — likely reflecting buybacks, margin stability, and ecosystem strength.
Range: Bear $131 → Bull $363. Current price implies expectations above the base case, closer to bull expectations.
| Discount ↓Growth → | 11% | 13% | 15% | 17% |
|---|---|---|---|---|
| 8% | $266 | $291 | $318 | $348 |
| 10% | $173 | $190 | $208 | $228 |
| 12% | $125 | $137 | $150 | $165 |
| 14% | $95 | $104 | $115 | $126 |
Bull Case
- Bull case ($363) offers 2% upside at 18% growth, 8% discount
Bear Case
- Bear case ($131) implies 63% downside at 12% growth, 12% discount
- Price reflects 28% growth expectations vs 15% historical — high bar to clear
- Trading 41% above base case — execution must exceed assumptions to justify
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5-Year Free Cash Flow Projection
Year 1$4.01B
Year 2$4.61B
Year 3$5.30B
Year 4$6.10B
Year 5$7.01B
Terminal$111.14B
📐 Model Inputs
Growth Rate15.0%5Y CAGR (cascade: 5Y→3Y→TTM)
Discount Rate9.5%WACC estimate
Terminal Growth3.0%Perpetuity rate
Base Free Cash Flow$3.49BTTM actual
Bear g×0.8, r+2%
Base Historical CAGR
Bull g×1.2, r−1.5%
DCF estimates based on historical growth rates extrapolated forward. See FAQ below for full methodology.