SYK

MKT CAP:$126B

Stryker Corporation

Market Cap

$126B

Healthcare·Medical - Devices·🇺🇸 United States·NYSE

Healthcare·Medical - Devices·🇺🇸·NYSE

Stock Price

$328.10-$20.08 (-5.77%)

Apr 24, 2026

Company Details

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee j...

CEO

Kevin A. Lobo

IPO Date

Mar 17, 1980

Website

www.stryker.com

Key Metrics TTM

Revenue

$25.1B

+11.2% YoY

Net Income

$3.2B

EPS (Diluted)

$8.40

Free Cash Flow

$4.3B

Revenue / Share

$64.98

Gross Margin

63.5%

Operating Margin

22.4%

Net Margin

12.9%

FCF Margin

17.1%

P/S

5.0x

P/E

38.7x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 11, 2026

$25.1B+11.2%EPS $8.40

Q4 2025

Feb 11, 2026

$7.2B+11.4%EPS $2.20

Q3 2025

Oct 31, 2025

$6.1B+10.2%EPS $2.22

Q2 2025

Aug 1, 2025

$6.0B+11.1%EPS $2.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$4.3B	$2.6B	$784M
Q2 22	$4.5B	$2.7B	$906M
Q3 22	$4.5B	$2.6B	$849M
Q4 22	$5.2B	$3.1B	$1.2B
Q1 23	$4.8B	$2.9B	$858M
Q2 23	$5.0B	$3.0B	$1.1B
Q3 23	$4.9B	$3.0B	$991M
Q4 23	$5.8B	$3.6B	$1.4B
Q1 24	$5.2B	$3.2B	$1.0B
Q2 24	$5.4B	$3.3B	$1.2B
Q3 24	$5.5B	$3.4B	$1.2B
Q4 24	$6.4B	$4.0B	$1.7B
Q1 25	$5.9B	$3.7B	$1.2B
Q2 25	$6.0B	$3.8B	$1.4B
Q3 25	$6.1B	$3.9B	$1.1B
Q4 25	$7.2B	$4.7B	$2.0B

Valuation

Quarter	P/S	P/E
Q1 22	5.9x	50.6x
Q2 22	4.4x	37.0x
Q3 22	4.4x	32.3x
Q4 22	5.4x	42.0x
Q1 23	5.8x	41.6x
Q2 23	5.8x	41.8x
Q3 23	5.2x	40.3x
Q4 23	5.6x	36.1x
Q1 24	6.4x	40.2x
Q2 24	6.0x	37.2x
Q3 24	6.3x	38.3x
Q4 24	6.1x	46.1x
Q1 25	6.1x	49.8x
Q2 25	6.4x	51.8x
Q3 25	5.8x	48.1x
Q4 25	5.4x	41.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$203M	$84M
Q2 22	$529M	$386M
Q3 22	$889M	$751M
Q4 22	$1.0B	$815M
Q1 23	$445M	$315M
Q2 23	$688M	$536M
Q3 23	$1.1B	$902M
Q4 23	$1.5B	$1.4B
Q1 24	$204M	$37M
Q2 24	$633M	$481M
Q3 24	$1.5B	$1.3B
Q4 24	$1.9B	$1.7B
Q1 25	$250M	$127M
Q2 25	$1.1B	$928M
Q3 25	$1.5B	$1.4B
Q4 25	$2.1B	$1.9B

Capital Expenditures

Quarter	CapEx
Q1 22	$119M
Q2 22	$143M
Q3 22	$138M
Q4 22	$188M
Q1 23	$130M
Q2 23	$152M
Q3 23	$148M
Q4 23	$145M
Q1 24	$167M
Q2 24	$152M
Q3 24	$170M
Q4 24	$266M
Q1 25	$123M
Q2 25	$183M
Q3 25	$187M
Q4 25	$268M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+8.1%	+8.2%
Q2 22	+4.6%	+6.9%
Q3 22	+7.7%	+11.2%
Q4 22	+10.7%	+11.0%
Q1 23	+11.8%	+12.3%
Q2 23	+11.2%	+9.6%
Q3 23	+9.6%	+7.9%
Q4 23	+11.8%	+9.6%
Q1 24	+9.7%	+8.2%
Q2 24	+8.5%	+8.4%
Q3 24	+11.9%	+9.4%
Q4 24	+10.7%	+8.7%
Q1 25	+11.9%	+10.5%
Q2 25	+11.1%	+9.3%
Q3 25	+10.2%	+14.8%
Q4 25	+11.4%	+9.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$71M	1.7%
Q2 22	$36M	0.8%
Q3 22	$33M	0.7%
Q4 22	$28M	0.5%
Q1 23	$74M	1.5%
Q2 23	$39M	0.8%
Q3 23	$52M	1.1%
Q4 23	$40M	0.7%
Q1 24	$87M	1.7%
Q2 24	$46M	0.8%
Q3 24	$51M	0.9%
Q4 24	$45M	0.7%
Q1 25	$84M	1.4%
Q2 25	$49M	0.8%
Q3 25	$62M	1.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$306M	$1.5B
Q2 22	$323M	$1.5B
Q3 22	$317M	$1.5B
Q4 22	$284M	$1.6B
Q1 23	$311M	$1.7B
Q2 23	$319M	$1.7B
Q3 23	$335M	$1.7B
Q4 23	$328M	$1.8B
Q1 24	$356M	$1.8B
Q2 24	$352M	$1.8B
Q3 24	$364M	$1.8B
Q4 24	$342M	$2.0B
Q1 25	$393M	$2.1B
Q2 25	$396M	$2.0B
Q3 25	$410M	$2.0B
Q4 25	$401M	$2.2B

Revenue Segments

Quarter	Med Surg	Orthopaedics and Spine	Orthopaedics
Q1 22	$2.4B	$1.9B	—
Q2 22	$2.5B	$1.9B	—
Q3 22	$2.6B	$1.9B	—
Q4 22	$3.1B	$2.2B	—
Q1 23	$2.7B	$2.1B	—
Q2 23	$2.9B	$2.1B	—
Q3 23	$2.9B	$2.0B	—
Q4 23	$3.4B	$2.4B	—
Q1 24	$3.0B	$2.2B	—
Q2 24	$3.1B	$2.3B	—
Q3 24	$3.2B	$2.3B	—
Q1 25	$3.5B	$2.4B	—
Q2 25	$3.8B	—	$2.3B
Q3 25	$3.8B	—	$2.3B

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$1.2B	$3.1B
Q2 22	$1.2B	$3.3B
Q3 22	$1.1B	$3.4B
Q1 23	$1.3B	$3.5B
Q2 23	$1.3B	$3.7B
Q3 23	$1.2B	$3.7B
Q1 24	$1.3B	$3.9B
Q2 24	$1.4B	$4.0B
Q3 24	$1.4B	$4.1B
Q1 25	$1.4B	$4.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.5B	$72M	$1.5B
Q2 22	$1.0B	$83M	$1.1B
Q3 22	$1.4B	$77M	$1.5B
Q4 22	$1.8B	$84M	$1.9B
Q1 23	$1.7B	$86M	$1.8B
Q2 23	$1.4B	$77M	$1.5B
Q3 23	$1.9B	$76M	$1.9B
Q4 23	$3.0B	$82M	$3.1B
Q1 24	$2.3B	$77M	$2.4B
Q2 24	$1.9B	$83M	$2.0B
Q3 24	$3.9B	$834M	$4.7B
Q4 24	$3.7B	$841M	$4.5B
Q1 25	$2.3B	$89M	$2.4B
Q2 25	$2.4B	$89M	$2.5B
Q3 25	$3.3B	$87M	$3.3B
Q4 25	$4.0B	$89M	$4.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	383M	0.0%	+0.3%
Q2 22	382M	-0.1%	-0.0%
Q3 22	382M	-0.1%	-0.2%
Q4 22	382M	+0.1%	-0.1%
Q1 23	383M	+0.2%	+0.1%
Q2 23	384M	+0.2%	+0.4%
Q3 23	384M	+0.0%	+0.6%
Q4 23	384M	-0.0%	+0.4%
Q1 24	385M	+0.3%	+0.5%
Q2 24	385M	+0.1%	+0.4%
Q3 24	386M	+0.1%	+0.4%
Q4 24	386M	+0.1%	+0.6%
Q1 25	386M	+0.1%	+0.3%
Q2 25	386M	0.0%	+0.3%
Q3 25	387M	+0.1%	+0.3%
Q4 25	387M	-0.1%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$92.9K	46K
Q2 22	$97.7K	46K
Q3 22	$97.4K	46K
Q4 22	$102.0K	51K
Q1 23	$93.7K	51K
Q2 23	$98.0K	51K
Q3 23	$96.3K	51K
Q4 23	$111.8K	52K
Q1 24	$100.8K	52K
Q2 24	$104.3K	52K
Q3 24	$105.7K	52K
Q4 24	$121.4K	53K
Q1 25	$110.7K	53K
Q2 25	$113.6K	53K
Q3 25	$114.3K	53K
Q4 25	$128.1K	56K

Revenue / Employee