Stock Exchange. Following are selected financial data for Stryker for the period 2009 to 2013. 2009 2010 2011 2012 2013 Profit margin (%) 16.6 17.6 16.6 15.4 11.6 Retention ratio (%) 82.4 81.3 79.6 75.4 60.6 Asset turnover (X) 0.70 0.70 0.70 0.70 0.60 Financial leverage (X) 1.70 1.70 1.70 1.70 1.80 Growth rate in sales (%) 1.0 8.6 13.3 4.1 4.6 Source: Data from Stryker 2009 to 2013 annual reports. Calculate Stryker's annual sustainable growth rate from 2009 through 2013. Note: Round your answers to 1 decimal place.

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Financial Ratios

A Ratio refers to a figure calculated as a reference to the relationship of two or more numbers and can be expressed as a fraction, proportion, percentage, or the number of times. When the number is determined by taking two accounting numbers derived from the financial statements, it is termed as the accounting ratio.

Return on Equity

The Return on Equity (RoE) is a measure of the profitability of a business concerning the funds by its stockholders/shareholders. ROE is a metric used generally to determine how well the company utilizes its funds provided by the equity shareholders.