Published
{
"ticker": "SYK",
"cik": "0000310764",
"company": "Stryker Corporation",
"business_type": "industrial",
"schema_template": "standard (medical technology manufacturer: net sales, cost of sales, gross profit, operating income, net earnings, diluted EPS; cash, total debt, total assets, total equity; operating cash flow, capital expenditures, free cash flow)",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual dollars (not millions); per-share amounts and ratios are as printed",
"units_notes_seen": {
"FY2025 10-K consolidated statements of earnings": "Dollar amounts in millions except per share amounts or as otherwise specified. Weighted-average share counts on that statement are captioned \"Weighted-average shares outstanding (in millions)\".",
"FY2025 10-K consolidated balance sheets": "Dollar amounts in millions except per share amounts or as otherwise specified.",
"FY2025 10-K consolidated statements of cash flows": "Dollar amounts in millions except per share amounts or as otherwise specified.",
"FY2025 10-K Note 13, Summary of Quarterly Data (unaudited)": "Dollar amounts in millions except per share amounts or as otherwise specified.",
"FY2025 10-K Note 10, Debt and Credit Facilities (total debt table)": "Dollar amounts in millions except per share amounts or as otherwise specified.",
"Q2 2026 10-Q consolidated statements of earnings": "Dollar amounts are in millions except per share amounts or as otherwise specified. Weighted-average share counts on that statement are captioned \"Weighted-average shares outstanding (in millions)\".",
"Q2 2026 10-Q consolidated balance sheets": "Dollar amounts are in millions except per share amounts or as otherwise specified.",
"Q2 2026 10-Q consolidated statements of cash flows": "Dollar amounts are in millions except per share amounts or as otherwise specified.",
"Q2 2026 10-Q Note 8, Debt and Credit Facilities (total debt table)": "Dollar amounts are in millions except per share amounts or as otherwise specified.",
"Q2 2026 10-Q Note 10, Segment Information": "Dollar amounts are in millions except per share amounts or as otherwise specified.",
"First-quarter 2026 earnings release (Exhibit 99.1), condensed statements of earnings and cash flows": "Unaudited - Millions of Dollars, Except Per Share Amounts",
"Form 8-K of June 26, 2026 (Exhibit 99.1), recast Note 14, Segment and Geographic Data": "Dollar amounts in millions except per share amounts or as otherwise specified."
},
"adjustments": {
"splits_applied": [],
"adr_ratio": null,
"fx": "None. Stryker reports in US dollars, so no currency translation was applied.",
"notes": "No stock split or reverse split has occurred in the periods covered, so no per-share figure required restatement. Stryker is a US domestic filer and not an ADR, so no ADS ratio applies."
},
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{
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"label": "FY2025",
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"interest_expense": -607000000,
"other_income": 232000000,
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"income_taxes": 1268000000,
"net_earnings": 3246000000,
"basic_eps": 8.49,
"diluted_eps": 8.4,
"basic_shares": 382200000,
"diluted_shares": 386500000
},
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"cash_and_cash_equivalents": 4011000000,
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"total_current_assets": 14755000000,
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"goodwill": 19291000000,
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"accounts_payable": 1799000000,
"current_maturities_of_debt": 1000000000,
"total_current_liabilities": 7794000000,
"long_term_debt": 14859000000,
"total_liabilities": 25424000000,
"total_equity": 22420000000,
"total_debt": 15859000000
},
"cash_flow": {
"depreciation": 461000000,
"operating_cash_flow": 5044000000,
"acquisitions_net_of_cash_acquired": -4960000000,
"capex": -761000000,
"investing_cash_flow": -4866000000,
"dividends_paid": -1284000000,
"financing_cash_flow": 113000000,
"free_cash_flow": 4283000000
},
"segment_results": {
"medsurg_and_neurotechnology_net_sales": 13692000000,
"orthopaedics_net_sales": 11424000000
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"segment_results_source": "Annual segment net sales are the recast 2023-2025 figures on the current segment basis printed in the Form 8-K of June 26, 2026 (accession 0000310764-26-000041), not the former-basis figures in the FY2025 10-K."
},
{
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"earnings_before_income_taxes": 3492000000,
"income_taxes": 499000000,
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"diluted_shares": 385600000
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"medsurg_and_neurotechnology_net_sales": 11753000000,
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},
{
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"label": "FY2023",
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"selling_general_and_administrative_expenses": 7111000000,
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"total_operating_expenses": 9170000000,
"operating_income": 3888000000,
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"earnings_before_income_taxes": 3673000000,
"income_taxes": 508000000,
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"diluted_eps": 8.25,
"basic_shares": 379600000,
"diluted_shares": 383700000
},
"balance_sheet": {
"total_equity": 18593000000
},
"cash_flow": {
"depreciation": 393000000,
"operating_cash_flow": 3711000000,
"acquisitions_net_of_cash_acquired": -390000000,
"capex": -575000000,
"investing_cash_flow": -962000000,
"dividends_paid": -1139000000,
"financing_cash_flow": -1594000000,
"free_cash_flow": 3136000000
},
"segment_results": {
"medsurg_and_neurotechnology_net_sales": 10558000000,
"orthopaedics_net_sales": 9940000000
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"segment_results_source": "Annual segment net sales are the recast 2023-2025 figures on the current segment basis printed in the Form 8-K of June 26, 2026 (accession 0000310764-26-000041), not the former-basis figures in the FY2025 10-K."
}
],
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{
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"label": "Q1 2024",
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"period_end": "2024-03-31",
"period_type": "three months",
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}
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{
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{
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{
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{
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},
{
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"cash_flow": {
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"cash_flow_source": "Three-month operating cash flow and capital expenditures are the six-month columns of the Form 10-Q (accession 0000310764-26-000050) less the first-quarter columns of the first-quarter 2026 results release (accession 0000310764-26-000025)."
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{
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{
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},
{
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"cash_flow_source": "Three-month operating cash flow and capital expenditures are the six-month columns of the Form 10-Q (accession 0000310764-26-000050) less the first-quarter columns of the first-quarter 2026 results release (accession 0000310764-26-000025)."
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"segment_results": {
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},
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},
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"dividends_paid": -1317000000,
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"free_cash_flow": 4702000000
}
},
"notes": [
"Stryker is a medical technology manufacturer, so this record uses the standard operating template: net sales, cost of sales, gross profit, operating income, net earnings and diluted earnings per share; cash, total debt, total assets and total shareholders' equity; and operating cash flow, capital expenditures and free cash flow.",
"The statements here are taken from two filings: the FY2025 Form 10-K for the year ended December 31, 2025 (accession 0000310764-26-000010) and the Form 10-Q for the quarter ended June 30, 2026 (accession 0000310764-26-000050). Two sets of figures come from elsewhere: first-quarter operating cash flow and capital expenditures, for both 2026 and 2025, come from the first-quarter 2026 results release (accession 0000310764-26-000025), and the annual segment net sales, together with the current segment basis, come from the Form 8-K of June 26, 2026 (accession 0000310764-26-000041). Each of those filings states its figures in millions of dollars; dollar amounts here are converted to whole dollars, while per-share amounts are reported exactly as printed.",
"Annual coverage follows what the 10-K puts on its face: three years of earnings and cash flows (2025, 2024 and 2023) and two years of balance sheet (2025 and 2024). FY2023 therefore carries no balance sheet apart from total shareholders' equity of $18,593 million, which the consolidated statements of shareholders' equity print for that year.",
"Total debt is the \"Total debt\" line in each filing's debt note - $15,859 million at December 31, 2025, $13,597 million at December 31, 2024 and $14,942 million at June 30, 2026 - which equals current maturities of debt plus long-term debt on the corresponding balance sheet.",
"The 2024 quarters and the first, third and fourth quarters of 2025 come from Note 13, Summary of Quarterly Data (unaudited), in the FY2025 10-K. That note prints net sales, gross profit, earnings before income taxes, net earnings, basic and diluted earnings per share and dividends declared per share, and nothing else, so those quarters carry no operating income, no share counts and no balance sheet, and no cash flow except for first-quarter 2025 operating cash flow and capital expenditures, which come from the first-quarter 2026 results release (accession 0000310764-26-000025). The second quarter of 2025 is taken instead from the 10-Q's year-ago column (accession 0000310764-26-000050). Cost of sales for the quarters taken from the 10-K's note is net sales less gross profit. The four quarters of each year sum to that year's annual figures.",
"The second quarter of 2025 is taken from the 10-Q's own year-ago column, which prints the full income statement. The 10-K's quarterly note shows the same figures for that quarter: net sales of $6,022 million, gross profit of $3,841 million, earnings before income taxes of $1,016 million and net earnings of $884 million.",
"The 10-Q prints a three-month column and a six-month column but no first-quarter column, so the first quarter of 2026 here is the six months less the second quarter. Every line of it matches what Stryker reported for that quarter in its first-quarter 2026 results release (accession 0000310764-26-000025): net sales of $6,020 million, operating income of $936 million, net earnings of $745 million and diluted earnings per share of $1.93. Weighted-average share counts cannot be obtained by subtraction and are not reported for that quarter.",
"Neither filing prints a three-month cash flow statement - the 10-Q's covers the six months only. Because a first quarter is itself a three-month cumulative period, first-quarter operating cash flow and capital expenditures are taken from the first-quarter 2026 results release (accession 0000310764-26-000025), which prints both years: operating cash flow of $581 million in 2026 and $250 million in 2025, and capital expenditures of $166 million and $123 million. Each second quarter is then the six months less the first quarter.",
"Free cash flow is operating cash flow less purchases of property, plant and equipment. Capital expenditures carry the negative sign the cash flow statement prints for them.",
"The trailing-twelve-month view is FY2025 plus the first six months of 2026 less the first six months of 2025. Diluted earnings per share adds the same way: $8.40 plus $5.23 less $3.98 gives $9.65. The diluted share count shown there is implied by dividing trailing-twelve-month net earnings by that figure, so it is approximate.",
"Stryker reports two segments, MedSurg and Neurotechnology and Orthopaedics. In the first quarter of 2026 it reorganized its businesses and created a new Ortho Tech business, which moved product lines from one segment to the other, and it recast its 2023-2025 segment data for the change in a Form 8-K filed June 26, 2026 (accession 0000310764-26-000041), stating that the recast is not a restatement of the previously issued financial statements. The segment figures printed in the FY2025 10-K are on the former basis and are not comparable with the 2026 figures, so the annual segment net sales shown here are the recast figures from that Form 8-K, which are on the current basis; that filing also prints recast annual segment cost of sales, operating expenses and operating income for 2023-2025, which are not included here. The quarterly and six-month segment figures come from the 10-Q, where the 2025 comparatives are on the current basis: the 10-Q shows second-quarter 2025 MedSurg and Neurotechnology net sales of $3,305 million and Orthopaedics net sales of $2,717 million, against the $3,771 million and $2,251 million originally reported for that quarter (accession 0000310764-25-000103), a shift of $466 million between the two segments.",
"The reorganization did not change any consolidated figure. The 10-Q's December 31, 2025 balance-sheet column agrees line for line with the FY2025 10-K, so no period in this record was restated.",
"Segment operating income is the measure Stryker's chief operating decision maker uses. It excludes corporate costs, intangible amortization, impairments and other charges the company does not allocate to segments, so the two segments do not sum to consolidated operating income. The 10-Q reconciles the difference.",
"No currency translation, stock-split restatement or depositary-share conversion applies: Stryker reports in US dollars, is a US domestic filer rather than an ADR, and has had no stock split in any period shown."
],
"uncertainties": [
"The first quarter of 2026 is derived, not printed. Its basic and diluted earnings per share ($1.95 and $1.93) come from subtracting the second quarter from the six months, and because earnings per share is struck on a weighted-average share count a subtraction of that kind is not exact in general. Here both results equal the figures Stryker reported for the quarter, so the risk is small, but they are derived figures.",
"Second-quarter cash flow is derived: operating cash flow of $1,261 million and capital expenditures of $202 million for 2026, and $1,111 million and $183 million for 2025, are the six-month figures less the first quarter. No filing prints a three-month cash flow statement for Stryker.",
"The diluted share count of about 386.4 million shown for the trailing twelve months is implied from net earnings and diluted earnings per share, not reported.",
"The 2024 quarters and the first, third and fourth quarters of 2025 are limited to what the 10-K's quarterly note prints. They carry no operating income, no share counts, no balance sheet, and no cash flow except for first-quarter 2025 operating cash flow and capital expenditures. The second quarter of 2025 is fuller because the 10-Q prints it as the year-ago comparative.",
"The quarterly note prints no income tax line, so the gap between fourth-quarter 2025 earnings before income taxes of $1,705 million and net earnings of $849 million - an implied tax charge of roughly $856 million - is not separately disclosed by quarter. The four quarters do sum to the full year's $4,514 million of pre-tax earnings and $3,246 million of net earnings.",
"For FY2023 only total shareholders' equity is available; the 10-K's balance sheet shows two years, so no other FY2023 balance-sheet figure is reported here."
],
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Net sales",
"format": "usd",
"value": 6589000000,
"text": "$6.59 billion",
"exact": "$6,589,000,000",
"compact": "$6.59B",
"abs": "$6.59 billion",
"prior_value": 6022000000,
"prior": "$6.02 billion",
"priorabs": "$6.02 billion",
"yoy": "up 9.4%",
"source": {
"array": "quarterly",
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"index": 9,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
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"gap_days": 365
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},
{
"label": "Net earnings",
"format": "usd",
"value": 1276000000,
"text": "$1.28 billion",
"exact": "$1,276,000,000",
"compact": "$1.28B",
"abs": "$1.28 billion",
"prior_value": 884000000,
"prior": "$884 million",
"priorabs": "$884 million",
"yoy": "up 44.3%",
"source": {
"array": "quarterly",
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"index": 9,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
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"prior_span_days": 90,
"prior_source_accession": "0000310764-26-000050",
"gap_days": 365
}
},
{
"label": "Diluted EPS",
"format": "eps",
"value": 3.3,
"text": "$3.30",
"exact": "$3.30",
"compact": "$3.30",
"abs": "$3.30",
"prior_value": 2.29,
"prior": "$2.29",
"priorabs": "$2.29",
"yoy": "up 44.1%",
"source": {
"array": "quarterly",
"field": "income_statement.diluted_eps",
"index": 9,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000310764-26-000050",
"prior_index": 5,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000310764-26-000050",
"gap_days": 365
}
},
{
"label": "Operating income",
"format": "usd",
"value": 1659000000,
"text": "$1.66 billion",
"exact": "$1,659,000,000",
"compact": "$1.66B",
"abs": "$1.66 billion",
"prior_value": 1113000000,
"prior": "$1.11 billion",
"priorabs": "$1.11 billion",
"yoy": "up 49.1%",
"source": {
"array": "quarterly",
"field": "income_statement.operating_income",
"index": 9,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000310764-26-000050",
"prior_index": 5,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000310764-26-000050",
"gap_days": 365
}
},
{
"label": "Gross profit",
"format": "usd",
"value": 4498000000,
"text": "$4.50 billion",
"exact": "$4,498,000,000",
"compact": "$4.50B",
"abs": "$4.50 billion",
"prior_value": 3841000000,
"prior": "$3.84 billion",
"priorabs": "$3.84 billion",
"yoy": "up 17.1%",
"source": {
"array": "quarterly",
"field": "income_statement.gross_profit",
"index": 9,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
"period_start": "2026-04-01",
"span_days": 90,
"source_accession": "0000310764-26-000050",
"prior_index": 5,
"prior_period_label": "Q2 2025",
"prior_period_end": "2025-06-30",
"prior_period_start": "2025-04-01",
"prior_span_days": 90,
"prior_source_accession": "0000310764-26-000050",
"gap_days": 365
}
}
],
"summary": "Stryker Corporation reported $6.59 billion in net sales for Q2 FY2026, the quarter ended June 30, 2026, up 9.4% from a year earlier, and net earnings of $1.28 billion, up 44.3%. Earnings grew much faster than sales because gross profit, at $4.50 billion, was up 17.1% from a year earlier, widening gross margin on the reversal of 2025 tariff costs and lower amortization of inventory stepped up to fair value, which carried operating income up 49.1% to $1.66 billion. Diluted earnings per share were $3.30 against $2.29 a year earlier, in a quarter Stryker described as its recovery from the cybersecurity incident that disrupted order processing, manufacturing and shipping in the first quarter of 2026.",
"qa": [
{
"q": "How much revenue did Stryker report in Q2 FY2026?",
"a": "Stryker Corporation reported net sales of $6.59 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 9.4% from $6.02 billion in the same quarter a year earlier."
},
{
"q": "What was Stryker's net income in Q2 FY2026?",
"a": "Stryker Corporation reported net earnings of $1.28 billion for Q2 FY2026, the quarter ended June 30, 2026, up 44.3% from $884 million a year earlier."
},
{
"q": "What was Stryker's earnings per share in Q2 FY2026?",
"a": "Stryker Corporation earned $3.30 per diluted share in Q2 FY2026, against $2.29 in the same quarter a year earlier, up 44.1%."
},
{
"q": "Why did Stryker's profit rise faster than sales in Q2 FY2026?",
"a": "Stryker Corporation's gross profit reached $4.50 billion in Q2 FY2026, up 17.1% from a year earlier while net sales were up 9.4%, as the reversal of 2025 tariff costs and lower amortization of inventory stepped up to fair value widened gross margin. Operating income was $1.66 billion, up 49.1% from $1.11 billion a year earlier."
},
{
"q": "How fast is Stryker growing?",
"a": "Stryker Corporation's net sales were $6.59 billion in Q2 FY2026, up 9.4% from $6.02 billion a year earlier, growth the company attributed almost entirely to higher unit volume across both its MedSurg and Neurotechnology and Orthopaedics segments."
}
]
},
"company_details": {
"Name": "Stryker Corp",
"Ticker": "SYK",
"CIK": "0000310764",
"Exchange": "NYSE",
"State": "Michigan",
"Incorporation": "Michigan",
"SIC": "3841",
"Office": "Industrial Applications and Services",
"Industry": "Surgical & Medical Instruments & Apparatus"
},
"next_filing": {
"predicted_date": "2026-10-30",
"predicted_type": "10-Q"
},
"fiscal_period": {
"fiscal_year": 2026,
"fiscal_period": "Q2",
"tag": "FY26Q2",
"period_end": "2026-06-30",
"form": "10-Q",
"accession": "0000310764-26-000050",
"fiscal_year_end": "1231",
"source": "facts"
},
"source_filings": [
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"role": "annual",
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"fiscal_year": 2025,
"fiscal_period": "FY",
"tag": "FY25",
"period_end": "2025-12-31",
"filed": "2026-02-11",
"accession": "0000310764-26-000010",
"url": "https://www.sec.gov/Archives/edgar/data/310764/000031076426000010/0000310764-26-000010-index.htm",
"source": "reported"
},
{
"role": "quarterly",
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"fiscal_period": "Q2",
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"filed": "2026-07-31",
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]
}