Filing Flows › Health Care › Stryker (SYK)

Stryker (SYK) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Stryker (SYK) Q3 2026 earnings results →

Q3 2026 Revenue up 8% year over year to $6.5B · 12¢ of every $1 of revenue kept as net profit · operating margin 15.9%

Stryker made $6.5B in Q3 2026 (+8% Y/Y): MedSurg and Neurotechnology: $3.7B, Orthopaedics: $2.9B. Operating margin 15.9%, net earnings $753M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$6.5B

Year over year+8%

Operating margin15.9%

Net earnings$753M

Operating cash flow$1.5B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $6.5B in Q3 2026, up 8% year over year and down 1% from the previous quarter. MedSurg and Neurotechnology: was the largest line at 56% of revenue. MedSurg and Neurotechnology: added $0.31B year over year (up 9%), 67% of the total change.

Gross margin was 65.2%, up 1.6 points from Q3 2025. Operating profit was $1.0B, a 15.9% margin (down 2.9 points year over year). Operating profit fell $0.10B even though revenue rose $0.46B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 18% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+79%). Net earnings were $0.75B, down 12% year over year. The effective tax rate was 24.5%.

Operating cash flow was $1.5B (down 5% year over year), 194% of net earnings. Non-cash charges added back $0.40B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.24B. Capital expenditures of $0.24B left free cash flow of $1.2B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 30, 2026	$6.5B	+8%	15.9%	$753M	$1.5B
Q2 2026	10-Q	Jul 31, 2026	$6.6B	+9%	25.2%	$1.3B	$1.3B
Q1 2026	10-Q	May 11, 2026	$6.0B	+3%	15.5%	$745M	$581M
Q4 2025	10-K	Feb 11, 2026	$7.2B	+11%	25.2%	$849M	$2.1B
Q3 2025	10-Q	Oct 31, 2025	$6.1B	+10%	18.7%	$859M	$1.5B
Q2 2025	10-Q	Aug 1, 2025	$6.0B	+11%	18.5%	$884M	$1.1B
Q1 2025	10-Q	May 2, 2025	$5.9B	+12%	14.3%	$654M	$250M

Charts

Latest (Q3 2026): Y/Y +8%, Q/Q -1%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $753M, Operating cash flow $1.5B.

+1.6% since FY2020: more shares outstanding (issuance, stock pay).

Cash $4.0B, short-term investments $89.0M, long-term debt — at 2025-12-31.

Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.