Filing Flows › Stryker (SYK) › Q2 2026 › vs Q1 2026
Stryker (SYK) Q2 2026 vs Q1 2026 (quarter over quarter)
Stryker's revenue rose $569M (+9%) from $6.0B in Q1 2026 to $6.6B in Q2 2026. The biggest changes: MedSurg and Neurotechnology: +$418M (+13%); Orthopaedics: +$151M (+5%). Gross margin 68.3% against 63.3% (+5.0 pts).
Stryker, Q2 2026: revenue $6.6B (+9% year over year), operating margin 25.2%, net earnings $1.3B, operating cash flow $1.3B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 68.3% | 63.3% | +5.0 pts |
| Operating margin | 25.2% | 15.5% | +9.6 pts |
| Net margin | 19.4% | 12.4% | +7.0 pts |
| Free cash flow margin | 16.1% | 6.9% | +9.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| MedSurg and Neurotechnology: | $3.6B | $3.2B | $418M | +13% |
| Orthopaedics: | $3.0B | $2.8B | $151M | +5% |
| Revenue | $6.6B | $6.0B | $569M | +9% |
| Gross profit | $4.5B | $3.8B | $688M | +18% |
| Cost of revenue | $2.1B | $2.2B | −$119M | -5% |
| Operating profit | $1.7B | $936M | $723M | +77% |
| Operating expenses | $2.8B | $2.9B | −$35.0M | -1% |
| Pre-tax earnings | $1.6B | $850M | $714M | +84% |
| Other expense, net | $95.0M | $86.0M | $9.0M | +10% |
| Research & development | $434M | $413M | $21.0M | +5% |
| SG&A | $2.2B | $2.3B | −$52.0M | -2% |
| Other operating costs | $176M | $180M | −$4.0M | -2% |
| Net earnings | $1.3B | $745M | $531M | +71% |
| Income tax | $288M | $105M | $183M | +174% |
| Depreciation & amortization | $404M | $397M | $7.0M | +2% |
| Share-based compensation | $54.0M | $87.0M | −$33.0M | -38% |
| Working capital & other | $473M | $648M | −$175M | -27% |
| Operating cash flow | $1.3B | $581M | $680M | +117% |
| Free cash flow (OCF − capex) | $1.1B | $415M | $644M | +155% |
| Capital expenditures | $202M | $166M | $36.0M | +22% |
Questions
How much did Stryker's revenue grow quarter over quarter in Q2 2026?
Stryker's revenue rose $569M (+9%) from $6.0B in Q1 2026 to $6.6B in Q2 2026.
What drove Stryker's revenue change in Q2 2026?
MedSurg and Neurotechnology: +$418M (+13%); Orthopaedics: +$151M (+5%).