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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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  "notes": "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.",
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      "text": "Based on a comparative analysis of large medical product peers, Stryker's unconditional purchase commitments are the highest among all its peers relative to inventory, revenues and COGS.",
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      "text": "We believe this analysis reveals that Stryker has relatively inefficient purchasing process that burdens investors with higher risk from unconditional purchasing obligations.",
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      "text": "Unconditional Purchase Commitments To Ending Inventory: 63.7%",
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      "text": "Source: Company financials and 2022E Bloomberg consensus sales and COGS. Note: One limiting factor... Note: Medtronic does not report...",
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      "text": "Stryker's Contractual Purchase Commitments Are Very High In Relation To Close Peers",
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