Filing Flows › Stryker (SYK) › Q2 2026 › vs Q2 2025
Stryker (SYK) Q2 2026 vs Q2 2025 (year over year)
Stryker's revenue rose $567M (+9%) from $6.0B in Q2 2025 to $6.6B in Q2 2026. The biggest changes: MedSurg and Neurotechnology: +$320M (+10%); Orthopaedics: +$247M (+9%). Gross margin 68.3% against 63.8% (+4.5 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 68.3% | 63.8% | +4.5 pts |
| Operating margin | 25.2% | 18.5% | +6.7 pts |
| Net margin | 19.4% | 14.7% | +4.7 pts |
| Free cash flow margin | 16.1% | 15.4% | +0.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| MedSurg and Neurotechnology: | $3.6B | $3.3B | $320M | +10% |
| Orthopaedics: | $3.0B | $2.7B | $247M | +9% |
| Revenue | $6.6B | $6.0B | $567M | +9% |
| Gross profit | $4.5B | $3.8B | $657M | +17% |
| Cost of revenue | $2.1B | $2.2B | −$90.0M | -4% |
| Operating profit | $1.7B | $1.1B | $546M | +49% |
| Operating expenses | $2.8B | $2.7B | $111M | +4% |
| Pre-tax earnings | $1.6B | $1.0B | $548M | +54% |
| Other expense, net | $95.0M | $97.0M | −$2.0M | -2% |
| Research & development | $434M | $407M | $27.0M | +7% |
| SG&A | $2.2B | $2.1B | $150M | +7% |
| Other operating costs | $176M | $242M | −$66.0M | -27% |
| Net earnings | $1.3B | $884M | $392M | +44% |
| Income tax | $288M | $132M | $156M | +118% |
| Depreciation & amortization | $404M | $387M | $17.0M | +4% |
| Share-based compensation | $54.0M | $49.0M | $5.0M | +10% |
| Working capital & other | $473M | $209M | $264M | +126% |
| Operating cash flow | $1.3B | $1.1B | $150M | +14% |
| Free cash flow (OCF − capex) | $1.1B | $928M | $131M | +14% |
| Capital expenditures | $202M | $183M | $19.0M | +10% |
Questions
How much did Stryker's revenue grow year over year in Q2 2026?
Stryker's revenue rose $567M (+9%) from $6.0B in Q2 2025 to $6.6B in Q2 2026.
What drove Stryker's revenue change in Q2 2026?
MedSurg and Neurotechnology: +$320M (+10%); Orthopaedics: +$247M (+9%).