Filing Flows › Stryker (SYK) › Q1 2025
Stryker (SYK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Stryker (SYK) reported revenue of $5.9B for the first quarter 2025 (Q1 2025), +12% from a year earlier and -9% from the quarter before. Operating margin was 14.3%, net earnings $654M (11.1% of revenue).
Stryker, Q1 2025: revenue $5.9B (+12% year over year), operating margin 14.3%, net earnings $654M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.9B | -9% | +12% |
| Gross profit | $3.7B | -10% | +12% |
| Operating profit | $837M | +44% | -14% |
| Net earnings | $654M | +20% | -17% |
| Operating cash flow | $250M | -87% | +23% |
| Free cash flow | $127M | -92% | +243% |
What changed
Revenue was $5.9B in Q1 2025, up 12% year over year and down 9% from the previous quarter. MedSurg and Neurotechnology: was the largest line at 60% of revenue. MedSurg and Neurotechnology: added $0.41B year over year (up 13%), 66% of the total change.
Gross margin was 63.8%, up 0.3 points from a year earlier. Operating profit was $0.84B, a 14.3% margin (down 4.3 points year over year). Operating profit fell $0.14B even though revenue rose $0.62B versus a year earlier, so costs grew faster than sales. Operating expenses grew 23% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+29%). Net earnings were $0.65B, down 17% year over year. The effective tax rate was 14.4%.
Operating cash flow was $0.25B (up 23% year over year), 38% of net earnings. Non-cash charges added back $0.36B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.85B. Capital expenditures of $0.12B left free cash flow of $0.13B.
Questions
What was Stryker's revenue in the first quarter 2025?
Stryker (SYK) reported revenue of $5.9B for the first quarter 2025 (Q1 2025), +12% from a year earlier and -9% from the quarter before.
Was Stryker profitable in the first quarter 2025?
Operating profit was $837M (14.3% of revenue) and net earnings $654M.
Source: Stryker 10-Q on SEC EDGAR.