Ben Axler · activist-deck
Stryker Corp. (SYK)
195 pages · 5 arc beats · 3 loops
Stryker Corp. (SYK)
Ben Axler · 2022-04 arc beats above · slides in the middle · loops below · scroll → 3 LOOPS
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Deck intelligence map
5 coverage by narrative range · generated from this deck JSON
Narrative range 195 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Hook 5 slides 100% 5/5 slides 100% 5/5 slides · 21 hits — 0/5 slides
— 0/5 slides
40% 2/5 slides 100% 5/5 slides — 0/5 slides
Complication 15 slides 100% 15/15 slides 100% 15/15 slides · 74 hits — 0/15 slides
33.3% 5/15 slides 73.3% 11/15 slides 100% 15/15 slides 26.7% 4/15 slides Evidence 20 slides 100% 20/20 slides 100% 20/20 slides · 136 hits — 0/20 slides
5% 1/20 slides 90% 18/20 slides · 19 hits 100% 20/20 slides 55% 11/20 slides Climax 20 slides 100% 20/20 slides 100% 20/20 slides · 128 hits — 0/20 slides
— 0/20 slides
90% 18/20 slides · 19 hits 100% 20/20 slides 50% 10/20 slides Resolution 135 slides 100% 135/135 slides 99.3% 134/135 slides · 880 hits — 0/135 slides
1.5% 2/135 slides 80.7% 109/135 slides · 110 hits 100% 135/135 slides — 0/135 slides
Slide inventory
195 every slide · same image gating as the playbook
01
The image is a highly stylized, satirical critique of the company, using medical imagery combined with pests to imply systemic issues.front_matter
Open slide detailBeat · Hook
03
The slide uses a precedent table to establish credibility by showcasing past successful short-selling research.cite_precedent
Open slide detailBeat · Hook
04
The slide uses a 'before-after' logic applied to short-selling outcomes.cite_precedent
Open slide detailBeat · Hook
07
This slide serves as the executive summary/thesis statement for the entire deck, combining a severe valuation call with specific demands for management terminatstate_demand
08
The slide uses a red-bordered callout box to frame the argument, followed by a table categorizing incidents into 'Settlements' and 'Allegations'.expose_contradiction
09
The slide uses a table format to organize qualitative evidence (quotes) by employee role to build a case against the company's operational efficiency.expose_contradiction
10
The slide uses a table-like structure to present five distinct 'red flags' or problem areas.diagnose_problem
11
The slide uses a table-like structure to pair specific categories of concern with detailed investigative findings.expose_contradiction
Open slide detailBeat · Complication
12
This is a continuation slide detailing specific areas of concern for an activist short thesis.expose_contradiction
Open slide detailBeat · Complication
13
The slide uses a red flag icon to emphasize the core thesis callout.preempt_rebuttal
Open slide detailBeat · Complication
14
The slide uses a 'CEO quote vs. reality' framing to expose management's narrative.expose_contradiction
Open slide detailBeat · Complication
15
The slide uses a table format to present evidence of failed M&A integration and operational issues.expose_contradiction
Open slide detailBeat · Complication
16
The slide uses a red flag icon to draw attention to the lack of EBIT contribution from acquisitions.expose_contradiction
Open slide detailBeat · Complication
17
The slide uses a vertical red arrow on the left to visually anchor the three core pillars of the short thesis.summarize
Open slide detailBeat · Complication
18
Uses red arrows with '??' to highlight the divergence between equity and debt market signals.expose_contradiction
Open slide detailBeat · Complication
19
The slide uses a high-contrast callout box for the thesis and a table-like structure for the demands.state_demand
Open slide detailBeat · Complication
20
The slide uses a '??' callout to emphasize the suspicious nature of the accounting practices.expose_contradiction
Open slide detailBeat · Complication
22
The slide uses a red flag icon and red boxes to draw attention to the suspension of share repurchases and the high volume of acquisitions.diagnose_problem
23
Uses red flag and arrow iconography to emphasize the negative trend and the cessation of PR announcements.expose_contradiction
24
Uses a chronological sequence of quotes to highlight management's failure to disclose material risks.expose_contradiction
25
The slide uses a red flag icon and a red border around the key metric row to emphasize the 'red flag' thesis.expose_contradiction
26
The slide uses a red flag icon to signal a warning about financial reporting practices.expose_contradiction
27
Uses red boxes to highlight the specific change in language between the two reporting periods.expose_contradiction
28
Uses a red flag icon and red boxes to highlight the contradiction between the CEO's narrative and the tax delinquency records.expose_contradiction
29
Uses a combination of accounting data and management quotes to suggest aggressive accounting practices.expose_contradiction
30
The slide uses a red box to highlight the 5.24% peak in Q4 2021 and a red arrow to emphasize the upward trend.compare_peers
31
Uses a red flag icon to signal accounting manipulation.expose_contradiction
Open slide detailBeat · Evidence
32
Uses a red-flag framing to contrast management quotes with financial reality.expose_contradiction
Open slide detailBeat · Evidence
33
Uses red boxes and arrows to highlight specific data points in tables that support the activist thesis.expose_contradiction
Open slide detailBeat · Evidence
34
Uses a series of quotes to highlight management's evasiveness regarding market share.expose_contradiction
Open slide detailBeat · Evidence
35
The slide uses a 'before and after' comparison of financial reporting segments to suggest manipulation.expose_contradiction
Open slide detailBeat · Evidence
36
Uses a red flag icon to denote a warning/red flag.expose_contradiction
Open slide detailBeat · Evidence
37
The slide uses a red flag icon to signal a warning or investigative finding.expose_contradiction
Open slide detailBeat · Evidence
38
The slide uses red callout boxes and arrows to highlight specific data manipulation tactics (segment shifting and margin restatements).expose_contradiction
Open slide detailBeat · Evidence
39
The slide uses a side-by-side comparison table to contrast company-reported FCF with Spruce Point's 'Reality' adjusted FCF.expose_contradiction
Open slide detailBeat · Evidence
40
The slide uses a red box to highlight the 'Over (Under) Spend' row, specifically emphasizing the negative variances in 2020 and 2021.expose_contradiction
41
The chart highlights a specific period of stagnation with a red bracket and callout box.expose_contradiction
42
The slide uses a red flag icon to highlight the contradiction between positive alignment and potential underlying business weakness.expose_contradiction
43
Uses a before-and-after comparison to show the degradation of financial guidance.expose_contradiction
44
The slide uses the Spruce Point Capital Management logo (the pine tree) as a visual anchor.frame_problem
45
The slide uses a side-by-side comparison of two different versions of the same financial statement to expose a restatement.expose_contradiction
46
The slide uses red boxes and arrows to highlight the lack of revision in the 'Total' D&A column between the two reports.expose_contradiction
47
The slide uses red boxes to highlight the specific line items that do not reconcile.expose_contradiction
48
Uses a red flag icon to denote the activist's warning; highlights 'Obscured' in the table.expose_contradiction
49
The slide uses a red border callout to emphasize the thesis. The table structure is used to contrast roles with specific negative outcomes.expose_contradiction
50
Uses red arrows and boxes to visually link claims in the biography to contradictory evidence.expose_contradiction
52
Uses a direct quote comparison to highlight management's lack of specificity and subsequent failure to improve margins.expose_contradiction
Open slide detailBeat · Climax
53
The slide highlights that Stryker's reported SG&A is not directly comparable to peers because it excludes shipping and handling costs from SG&A (unlike some peecompare_peers
Open slide detailBeat · Climax
54
Uses a 'red flag' visual metaphor to highlight the contradiction.expose_contradiction
Open slide detailBeat · Climax
55
The slide uses a Q&A format to present expert testimony.cite_precedent
Open slide detailBeat · Climax
56
Uses a red flag icon to denote a 'red flag' governance issue.expose_contradiction
Open slide detailBeat · Climax
57
Uses red flag icon to signal critical commentary on management statements.expose_contradiction
Open slide detailBeat · Climax
58
The slide uses a before-and-after comparison of executive rosters to argue that the company has de-prioritized technology leadership.expose_contradiction
Open slide detailBeat · Climax
59
The slide uses a direct quote from a JPM conference to establish the expectation, followed by a table of quarterly financial results to demonstrate the failure expose_contradiction
Open slide detailBeat · Climax
60
Uses a 'villain' critique style to highlight management inconsistency.expose_contradiction
Open slide detailBeat · Climax
61
The slide uses a Q&A format to present expert testimony regarding operational risks.illustrate_case
Open slide detailBeat · Resolution
62
The slide uses a Q&A format to present qualitative evidence from an expert source.illustrate_case
Open slide detailBeat · Resolution
64
The slide uses a quote to bridge the previous critique of technology systems to the upcoming critique of inventory reporting.transition
Open slide detailBeat · Resolution
65
Uses a red flag icon to denote a warning or red flag finding.expose_contradiction
Open slide detailBeat · Resolution
66
Uses a red flag icon to signal a warning/contradiction.expose_contradiction
Open slide detailBeat · Resolution
67
The slide uses a table to demonstrate that after adjusting for the reclassification of loaner instruments, the 'Days Inventory' metric remains largely flat, conexpose_contradiction
Open slide detailBeat · Resolution
68
The slide uses two side-by-side tables to highlight a discrepancy between reported accounting figures and estimated acquisition-based figures.expose_contradiction
Open slide detailBeat · Resolution
69
The slide uses a Q&A format to expose potential accounting/due diligence failures at Stryker.expose_contradiction
Open slide detailBeat · Resolution
70
The slide uses a Q&A format to highlight operational inefficiencies and cultural challenges at Stryker.illustrate_case
Open slide detailBeat · Resolution
71
Uses a red box callout to highlight the inventory figure and an arrow to show the jump from pre-acquisition to post-acquisition valuation.expose_contradiction
Open slide detailBeat · Resolution
72
Uses a red flag icon to signal a warning/contradiction.expose_contradiction
Open slide detailBeat · Resolution
73
The slide uses a red callout box to emphasize the contradiction and underlines specific text in the audit excerpt to draw attention to the focus on 'profit margexpose_contradiction
Open slide detailBeat · Resolution
74
The slide uses a red flag icon to highlight the narrative of struggling performance.expose_contradiction
Open slide detailBeat · Resolution
75
Uses red boxes to highlight the specific inventory line items being compared.expose_contradiction
Open slide detailBeat · Resolution
76
The slide uses red boxes to draw attention to the specific inventory figures being compared.expose_contradiction
Open slide detailBeat · Resolution
77
Uses red boxes and arrows to visually connect the pre-acquisition inventory allowance to the post-acquisition step-up.expose_contradiction
Open slide detailBeat · Resolution
79
Uses a 'ceo-quote-contradiction' framework to highlight the gap between public statements and internal reality.expose_contradiction
Open slide detailBeat · Resolution
80
The slide uses a Q&A format to expose potential flaws in Stryker's M&A strategy, specifically regarding deal pricing and internal silos.expose_contradiction
Open slide detailBeat · Resolution
81
Uses a 'before-after' style contradiction framework to highlight management credibility issues.expose_contradiction
Open slide detailBeat · Resolution
82
The slide uses a red flag callout to emphasize the negative nature of the acquisitions.cite_precedent
Open slide detailBeat · Resolution
83
Uses red boxes to highlight negative financial performance and specific charges.expose_contradiction
Open slide detailBeat · Resolution
84
The slide uses a red box to highlight the negative EBIT contribution and the specific revenue contribution figure.expose_contradiction
Open slide detailBeat · Resolution
85
The slide uses a red flag icon to signal a warning/contradiction.expose_contradiction
Open slide detailBeat · Resolution
86
The slide uses a Q&A format to highlight internal deal-making flaws and subsequent performance failures.expose_contradiction
Open slide detailBeat · Resolution
87
The slide uses two tables to demonstrate a lack of transparency and accounting inconsistencies in Stryker's acquisition reporting.expose_contradiction
Open slide detailBeat · Resolution
88
Uses a red arrow to connect text in the audit report to the 'Acquisitions, net of cash acquired' line item in the cash flow table.expose_contradiction
Open slide detailBeat · Resolution
90
The slide uses a red flag icon and red arrows to emphasize the negative sentiment and the 'downward' nature of the arguments.preempt_rebuttal
Open slide detailBeat · Resolution
91
The slide uses screenshots of legal documents to substantiate claims of past corporate misconduct.cite_precedent
Open slide detailBeat · Resolution
92
Uses red flag icon to signal management credibility issues.expose_contradiction
Open slide detailBeat · Resolution
93
Uses a red flag icon to denote failure/contradiction. The slide is structured as two comparative tables.expose_contradiction
Open slide detailBeat · Resolution
94
Uses a before-after comparison to show the shift in market opportunity claims.expose_contradiction
Open slide detailBeat · Resolution
95
Uses a 'red flag' visual metaphor and a direct quote from an earnings call to expose management's lack of transparency.expose_contradiction
Open slide detailBeat · Resolution
96
The slide uses red arrows and a callout box to highlight the change in language as a negative indicator.expose_contradiction
Open slide detailBeat · Resolution
97
Uses a red flag icon to signal the contradiction.expose_contradiction
Open slide detailBeat · Resolution
98
The slide uses a red flag icon to denote a negative/critical insight.cite_precedent
Open slide detailBeat · Resolution
99
The slide uses a dialogue format to present expert testimony regarding competitive risk.expose_gap
Open slide detailBeat · Resolution
100
Uses a Q&A format to highlight discrepancies between corporate narrative and field reality.expose_contradiction
Open slide detailBeat · Resolution
101
Uses a transcript-based 'expose_contradiction' framework to highlight management's evasiveness.expose_contradiction
Open slide detailBeat · Resolution
102
Uses a quote from the Microsoft/Nuance deal call to frame the competitive threat.expose_contradiction
Open slide detailBeat · Resolution
103
The slide uses red callout boxes to highlight the high-end price points of the valuation ranges compared to the acquisition price.show_valuation_bridge
Open slide detailBeat · Resolution
105
Uses a red flag icon to highlight the contradiction between initial deal projections and current performance.expose_contradiction
Open slide detailBeat · Resolution
106
Uses a red flag icon to signal the activist thesis.expose_contradiction
Open slide detailBeat · Resolution
107
Uses red boxes and arrows to highlight the specific data points that do not reconcile.expose_contradiction
Open slide detailBeat · Resolution
108
Uses red arrows and boxes to visually link the contradictory data points across different tables.expose_contradiction
Open slide detailBeat · Resolution
109
Features the Spruce Point Capital Management logo (pine tree).transition
Open slide detailBeat · Resolution
110
The slide uses a table and a press release excerpt to question the valuation of the SBi acquisition.expose_contradiction
Open slide detailBeat · Resolution
111
Uses a red flag icon to signal a warning/contradiction. Includes a table of investing activities and two specific callouts for external sources.expose_contradiction
Open slide detailBeat · Resolution
112
Uses direct quotes from 10-K and earnings call to contrast with UK financial reporting.expose_contradiction
Open slide detailBeat · Resolution
113
The slide uses a red flag icon to signal a warning about accounting disclosure changes.expose_contradiction
Open slide detailBeat · Resolution
114
Spruce Point Capital Management branding (tree logo).transition
Open slide detailBeat · Resolution
115
The slide uses a red flag icon and red arrows to emphasize the negative sentiment and the progression of issues.summarize
Open slide detailBeat · Resolution
116
The table uses a low/high scenario approach to estimate total revenue.quantify_opportunity
Open slide detailBeat · Resolution
117
The slide uses a Q&A format to expose internal company struggles and pricing strategies.expose_contradiction
Open slide detailBeat · Resolution
118
The slide uses a Q&A format to cast doubt on Stryker's financial reporting and business strategy.expose_contradiction
Open slide detailBeat · Resolution
119
Highlights key parts of the transcript in yellow to emphasize the shift from capital sales to placement agreements.illustrate_case
Open slide detailBeat · Resolution
120
The slide uses a dialogue format to highlight the shift in business model from capital-intensive sales to 'razor-and-blade' style implant-linked distribution.expose_contradiction
Open slide detailBeat · Resolution
121
Includes a red flag icon, a common motif in Spruce Point activist decks to signal a warning.compare_peers
Open slide detailBeat · Resolution
122
Uses a red flag icon to denote the activist's critical commentary.expose_contradiction
Open slide detailBeat · Resolution
123
Uses Google Trends data to argue against Stryker's market leadership in robotics.compare_peers
Open slide detailBeat · Resolution
124
The slide uses a red flag icon to draw attention to the summary text box.cite_precedent
Open slide detailBeat · Resolution
125
Uses red text highlights to emphasize key claims from competitors.expose_contradiction
Open slide detailBeat · Resolution
126
The slide uses a 'quote-counter-quote' structure to highlight management's spin.expose_contradiction
Open slide detailBeat · Resolution
127
Uses red boxes and arrows to highlight specific data points and contradictions in company reporting.expose_contradiction
Open slide detailBeat · Resolution
128
Uses red flags and arrows to visually connect contradictory statements.expose_contradiction
Open slide detailBeat · Resolution
129
The slide uses red blocks to visually represent the 'No Longer Disclosed' data points, emphasizing the lack of transparency.expose_contradiction
Open slide detailBeat · Resolution
130
The slide uses a chronological sequence of quotes to demonstrate shifting reporting practices.expose_contradiction
Open slide detailBeat · Resolution
131
The chart shows a significant drop in total reports post-2019, which the author frames as a potential red flag regarding reporting practices or business health.expose_contradiction
Open slide detailBeat · Resolution
132
Uses tax records as a forensic accounting indicator of business health.expose_contradiction
Open slide detailBeat · Resolution
133
This is a section divider slide used by Spruce Point Capital Management.transition
Open slide detailBeat · Resolution
134
Uses red boxes and arrows to highlight specific accounting line items that contradict the stated deal structure.expose_contradiction
Open slide detailBeat · Resolution
135
Uses a side-by-side comparison to highlight the gap between external promotion and internal/factual reality.expose_contradiction
Open slide detailBeat · Resolution
136
Uses visual comparison and source citation to undermine the credibility of the company's claims.expose_contradiction
Open slide detailBeat · Resolution
137
Uses a 'CEO vs. Insider' comparison to highlight potential management deception or failure.expose_contradiction
Open slide detailBeat · Resolution
139
The slide uses a red flag icon to draw attention to the alarmist nature of the findings.expose_contradiction
Open slide detailBeat · Resolution
140
Spruce Point Capital Management branding (pine tree logo).transition
Open slide detailBeat · Resolution
141
The slide uses a 'villain critique' framing by juxtaposing professional credentials with legal history.introduce_nominees
Open slide detailBeat · Resolution
142
The slide uses a red flag icon to draw attention to the potential risk associated with the executive's past.expose_contradiction
Open slide detailBeat · Resolution
143
The slide uses red boxes and arrows to draw attention to specific text passages that contradict or omit information about the subject's professional history.expose_contradiction
Open slide detailBeat · Resolution
144
The slide uses a timeline-based table to correlate specific corporate events (auditor change, PE exit, etc.) with deteriorating inventory metrics.expose_contradiction
Open slide detailBeat · Resolution
145
Uses red boxes and arrows to visually connect the pre-acquisition inventory value to the post-acquisition step-up.expose_contradiction
Open slide detailBeat · Resolution
146
Uses red flag icon and red bounding box to emphasize the contradiction/warning.expose_contradiction
Open slide detailBeat · Resolution
147
Highlights the contradiction between the CEO's optimistic narrative and the underlying performance metrics.expose_contradiction
Open slide detailBeat · Resolution
148
Uses a red flag icon to highlight the contradiction between executive quotes and financial reality.expose_contradiction
Open slide detailBeat · Resolution
149
The slide uses a red flag icon to signal a warning/contradiction.expose_contradiction
Open slide detailBeat · Resolution
150
Uses a direct quote from a competitor's 10-K to highlight the contrast in accounting practices.expose_contradiction
Open slide detailBeat · Resolution
152
The slide uses a 'CEO Quote vs. Reality' structure, common in activist short reports.expose_contradiction
Open slide detailBeat · Resolution
153
Uses red boxes and arrows to highlight specific data points that contradict or raise questions about the company's reporting.expose_contradiction
Open slide detailBeat · Resolution
154
The slide uses a red box to highlight the discrepancy between total capital raised and the implied purchase price.expose_contradiction
Open slide detailBeat · Resolution
155
The slide uses excerpts from a legal filing to undermine the company's public narrative regarding product quality and volume.expose_contradiction
Open slide detailBeat · Resolution
156
Uses a 'before-after' or 'contradiction' framing to show management obfuscation.expose_contradiction
Open slide detailBeat · Resolution
157
The slide uses a table to link specific physicians to payments from both OrthoSensor and Stryker, highlighting potential conflicts of interest.expose_contradiction
Open slide detailBeat · Resolution
158
Uses red boxes to draw attention to the inventory line item discrepancy.expose_contradiction
Open slide detailBeat · Resolution
159
Uses a red flag icon to highlight the contradiction.expose_contradiction
Open slide detailBeat · Resolution
160
The slide uses arrows to map legacy products to current offerings, implying that several products (Pinpoint, Luna, Dermacell AWM) were discontinued or de-emphasexpose_contradiction
Open slide detailBeat · Resolution
161
Uses a red 'X' overlay on the search results to emphasize the disappearance of the LUNA product.expose_contradiction
Open slide detailBeat · Resolution
162
Uses a red box to highlight the core argument and a callout box for the CEO quote.expose_contradiction
Open slide detailBeat · Resolution
163
Uses a red flag icon to denote the activist thesis. Includes callouts pointing to specific table rows.expose_contradiction
Open slide detailBeat · Resolution
164
Uses a red flag icon and a red arrow to visually connect the contradictory sources.expose_contradiction
Open slide detailBeat · Resolution
165
The slide uses a red callout box to emphasize the 36% statistic and poses a rhetorical question to frame the acquisition as a poor business decision.expose_contradiction
Open slide detailBeat · Resolution
166
The slide uses a red flag icon to highlight the contradiction between management's narrative and the actual outcome of the acquisition.expose_contradiction
Open slide detailBeat · Resolution
168
The slide highlights a contradiction between the company's share count trends and the family's selling behavior.expose_contradiction
Open slide detailBeat · Resolution
169
The slide uses a red callout box to highlight the contradiction between stated functional goals and actual performance outcomes.expose_contradiction
Open slide detailBeat · Resolution
170
Uses red underlining to draw attention to specific text changes in the source material.expose_contradiction
Open slide detailBeat · Resolution
171
Uses a 'Huh?' callout to highlight the contradiction between management's claims and financial reality.expose_contradiction
Open slide detailBeat · Resolution
172
Uses a red box to highlight the 2021 compensation data as the focal point of the contradiction.expose_contradiction
Open slide detailBeat · Resolution
173
The slide uses a red flag icon to highlight the governance concern regarding auditor tenure and director equity.expose_contradiction
Open slide detailBeat · Resolution
174
Spruce Point Capital Management branding with tree logo.frame_problem
Open slide detailBeat · Resolution
175
The slide uses a red flag icon and red arrows to emphasize the negative nature of the factors.preempt_rebuttal
Open slide detailBeat · Resolution
176
The slide uses a red flag icon to highlight the core thesis statement.diagnose_problem
Open slide detailBeat · Resolution
177
The slide uses the consensus bullishness as a setup to argue against the market's current sentiment.preempt_rebuttal
Open slide detailBeat · Resolution
178
The slide uses a 'villain' narrative (market data providers) to justify a higher debt/lower cash valuation.expose_contradiction
Open slide detailBeat · Resolution
179
The slide uses a bridge-style table to adjust GAAP figures to 'Spruce Point Adjusted' figures, specifically targeting acquisition-related add-backs.show_valuation_bridge
Open slide detailBeat · Resolution
180
The slide uses a red flag icon to signal a warning/contradiction. The chart shows the subject company (J&J) is below the industry average for Capex-to-Sales.expose_contradiction
Open slide detailBeat · Resolution
181
Uses two tables to highlight discrepancies in cash flow projections and the aggressive spread between sales and EPS growth.preempt_rebuttal
Open slide detailBeat · Resolution
182
Uses a dual-axis chart to show the divergence between stock price and FCF estimates.expose_contradiction
Open slide detailBeat · Resolution
183
Uses a red box to highlight the 2022E data row in the table and the contradictory management quotes.expose_contradiction
Open slide detailBeat · Resolution
184
The slide uses a red flag icon to signal a warning/risk. The table highlights Stryker's rows in orange and the highest ratios in red text.compare_peers
Open slide detailBeat · Resolution
185
The slide uses a red flag icon to signal a warning/contradiction. It contrasts Stryker's negative pricing outlook with peers' active price-raising strategies.expose_contradiction
Open slide detailBeat · Resolution
186
The slide uses a Q&A format to expose the contradiction between management's public claims and internal operational realities.expose_contradiction
Open slide detailBeat · Resolution
187
The slide uses a Q&A format to present expert testimony.illustrate_case
Open slide detailBeat · Resolution
188
The slide uses a Q&A format to present expert testimony.expose_contradiction
Open slide detailBeat · Resolution
189
Uses Bloomberg SURP function data to demonstrate a pattern of missed expectations.expose_contradiction
Open slide detailBeat · Resolution
190
The slide uses two line charts showing EV/NTM EBITDA and EV/NTM Sales, both indicating current levels relative to historical averages.show_valuation_bridge
Open slide detailBeat · Resolution
191
Uses a side-by-side comparison of analyst quotes vs. activist interpretation to frame the contradiction.expose_contradiction
Open slide detailBeat · Resolution
192
The slide uses a red callout box to emphasize the activist's thesis that Street estimates are overly optimistic and ignore financial 'noise'.compare_peers
Open slide detailBeat · Resolution
193
The slide uses a peer comparison table to argue that Stryker's premium valuation is no longer justified.compare_peers
Open slide detailBeat · Resolution
194
The slide uses red bars to highlight Stryker (Adj) in each chart for easy comparison against the peer group.compare_peers
Open slide detailBeat · Resolution
195
The table uses a 'Low Case' and 'High Case' for three different valuation metrics to derive a range of potential share prices.show_valuation_bridge
Open slide detailBeat · Resolution