Filing Flows › Stryker (SYK) › Q2 2025
Stryker (SYK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Stryker (SYK) reported revenue of $6.0B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +3% from the quarter before. Operating margin was 18.5%, net earnings $884M (14.7% of revenue).
Stryker, Q2 2025: revenue $6.0B (+11% year over year), operating margin 18.5%, net earnings $884M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | +3% | +11% |
| Gross profit | $3.8B | +3% | +12% |
| Operating profit | $1.1B | +33% | +6% |
| Net earnings | $884M | +35% | +7% |
| Operating cash flow | $1.1B | +344% | +76% |
| Free cash flow | $928M | +631% | +93% |
What changed
Revenue was $6.0B in Q2 2025, up 11% year over year and up 3% from the previous quarter. MedSurg and Neurotechnology: was the largest line at 63% of revenue. MedSurg and Neurotechnology: added $0.56B year over year (up 17%), 93% of the total change.
Gross margin was 63.8%, up 0.8 points from a year earlier. Operating profit was $1.1B, a 18.5% margin (down 0.9 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, below the 19% margin then. Operating expenses grew 15% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+42%). Net earnings were $0.88B, up 7% year over year. The effective tax rate was 13.0%.
Operating cash flow was $1.1B (up 76% year over year), 126% of net earnings. Non-cash charges added back $0.39B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.18B left free cash flow of $0.93B.
Questions
What was Stryker's revenue in the second quarter 2025?
Stryker (SYK) reported revenue of $6.0B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +3% from the quarter before.
Was Stryker profitable in the second quarter 2025?
Operating profit was $1.1B (18.5% of revenue) and net earnings $884M.
Source: Stryker 10-Q on SEC EDGAR.