Filing Flows › Stryker (SYK) › Q3 2026 › vs Q3 2025
Stryker (SYK) Q3 2026 vs Q3 2025 (year over year)
Stryker's revenue rose $463M (+8%) from $6.1B in Q3 2025 to $6.5B in Q3 2026. The biggest changes: MedSurg and Neurotechnology: +$309M (+9%); Orthopaedics: +$154M (+6%). Gross margin 65.2% against 63.6% (+1.6 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 65.2% | 63.6% | +1.6 pts |
| Operating margin | 15.9% | 18.7% | -2.9 pts |
| Net margin | 11.5% | 14.2% | -2.6 pts |
| Free cash flow margin | 18.8% | 22.3% | -3.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| MedSurg and Neurotechnology: | $3.7B | $3.4B | $309M | +9% |
| Orthopaedics: | $2.9B | $2.7B | $154M | +6% |
| Revenue | $6.5B | $6.1B | $463M | +8% |
| Gross profit | $4.2B | $3.9B | $396M | +10% |
| Cost of revenue | $2.3B | $2.2B | $67.0M | +3% |
| Operating profit | $1.0B | $1.1B | −$101M | -9% |
| Operating expenses | $3.2B | $2.7B | $497M | +18% |
| Pre-tax earnings | $997M | $1.0B | −$32.0M | -3% |
| Other expense, net | $37.0M | $106M | −$69.0M | -65% |
| Research & development | $433M | $410M | $23.0M | +6% |
| SG&A | $2.3B | $2.0B | $268M | +13% |
| Other operating costs | $468M | $262M | $206M | +79% |
| Net earnings | $753M | $859M | −$106M | -12% |
| Income tax | $244M | $170M | $74.0M | +44% |
| Depreciation & amortization | $397M | $402M | −$5.0M | -1% |
| Share-based compensation | $67.0M | $62.0M | $5.0M | +8% |
| Working capital & other | $244M | $217M | $27.0M | +12% |
| Operating cash flow | $1.5B | $1.5B | −$79.0M | -5% |
| Free cash flow (OCF − capex) | $1.2B | $1.4B | −$129M | -10% |
| Capital expenditures | $237M | $187M | $50.0M | +27% |
Questions
How much did Stryker's revenue grow year over year in Q3 2026?
Stryker's revenue rose $463M (+8%) from $6.1B in Q3 2025 to $6.5B in Q3 2026.
What drove Stryker's revenue change in Q3 2026?
MedSurg and Neurotechnology: +$309M (+9%); Orthopaedics: +$154M (+6%).