Filing Flows › Stryker (SYK) › Q3 2026 › vs Q2 2026
Stryker (SYK) Q3 2026 vs Q2 2026 (quarter over quarter)
Stryker's revenue fell $69.0M (-1%) from $6.6B in Q2 2026 to $6.5B in Q3 2026. The biggest changes: Orthopaedics: −$108M (-4%); MedSurg and Neurotechnology: +$39.0M (+1%). Gross margin 65.2% against 68.3% (-3.1 pts).
Stryker, Q3 2026: revenue $6.5B (+8% year over year), operating margin 15.9%, net earnings $753M, operating cash flow $1.5B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 65.2% | 68.3% | -3.1 pts |
| Operating margin | 15.9% | 25.2% | -9.3 pts |
| Net margin | 11.5% | 19.4% | -7.8 pts |
| Free cash flow margin | 18.8% | 16.1% | +2.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| MedSurg and Neurotechnology: | $3.7B | $3.6B | $39.0M | +1% |
| Orthopaedics: | $2.9B | $3.0B | −$108M | -4% |
| Revenue | $6.5B | $6.6B | −$69.0M | -1% |
| Gross profit | $4.2B | $4.5B | −$250M | -6% |
| Cost of revenue | $2.3B | $2.1B | $181M | +9% |
| Operating profit | $1.0B | $1.7B | −$625M | -38% |
| Operating expenses | $3.2B | $2.8B | $375M | +13% |
| Pre-tax earnings | $997M | $1.6B | −$567M | -36% |
| Other expense, net | $37.0M | $95.0M | −$58.0M | -61% |
| Research & development | $433M | $434M | −$1.0M | -0.2% |
| SG&A | $2.3B | $2.2B | $84.0M | +4% |
| Other operating costs | $468M | $176M | $292M | +166% |
| Net earnings | $753M | $1.3B | −$523M | -41% |
| Income tax | $244M | $288M | −$44.0M | -15% |
| Depreciation & amortization | $397M | $404M | −$7.0M | -2% |
| Share-based compensation | $67.0M | $54.0M | $13.0M | +24% |
| Working capital & other | $244M | −$473M | $717M | — |
| Operating cash flow | $1.5B | $1.3B | $200M | +16% |
| Free cash flow (OCF − capex) | $1.2B | $1.1B | $165M | +16% |
| Capital expenditures | $237M | $202M | $35.0M | +17% |
Questions
How much did Stryker's revenue grow quarter over quarter in Q3 2026?
Stryker's revenue fell $69.0M (-1%) from $6.6B in Q2 2026 to $6.5B in Q3 2026.
What drove Stryker's revenue change in Q3 2026?
Orthopaedics: −$108M (-4%); MedSurg and Neurotechnology: +$39.0M (+1%).