NYSE: SYK
STRYKER CORPCIK 0000310764 · SIC 3841 · Surgical & Medical Instruments
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Stryker Q3 sales rise 7.6% to $6.52B, but net income falls 12.3% on $293M goodwill impairment
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Stryker Q2 net income jumps 44.3% to $1.28B on 9.4% revenue growth
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Stryker reports 9.0% organic sales growth and 17.9% adjusted EPS growth in Q2 2026
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Stryker reports 11.2% sales growth for 2025, reorganizes segments around Mako robotics
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Stryker CAO William Berry to retire Sept 1; VP Controller Emily Baculik promoted to succeed
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revenue $6.02B, net income $745.0M. Stryker Q1 sales +2.6%, adj. EPS -8.5% as March cybersecurity breach disrupts operations
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Stryker Q1 adjusted EPS falls 8.5% to $2.60 despite 2.6% sales growth; cyber incident cited
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Latest financial statements
From 10-Q filed Oct 30, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings (Unaudited)
| Description | Three Months 2026 | Three Months 2025 | Nine Months 2026 | Nine Months 2025 |
|---|---|---|---|---|
| Net sales | 6,520 | 6,057 | 19,129 | 17,945 |
| Cost of sales | 2,272 | 2,205 | 6,573 | 6,508 |
| Gross profit | 4,248 | 3,852 | 12,556 | 11,437 |
| Research, development and engineering expenses | 433 | 410 | 1,280 | 1,222 |
| Selling, general and administrative expenses | 2,313 | 2,045 | 6,823 | 6,424 |
| Amortization of intangible assets | 175 | 189 | 530 | 543 |
| Goodwill and other impairments | 293 | 73 | 294 | 163 |
| Total operating expenses | 3,214 | 2,717 | 8,927 | 8,352 |
| Operating income | 1,034 | 1,135 | 3,629 | 3,085 |
| Interest expense | (143) | (157) | (432) | (453) |
| Other income | 106 | 51 | 214 | 177 |
| Earnings before income taxes | 997 | 1,029 | 3,411 | 2,809 |
| Income taxes | 244 | 170 | 637 | 412 |
| Net earnings | 753 | 859 | 2,774 | 2,397 |
| Net earnings per share of common stock: | ||||
| Basic | 1.97 | 2.25 | 7.24 | 6.27 |
| Diluted | 1.96 | 2.22 | 7.19 | 6.20 |
| Weighted-average shares outstanding (in millions): | ||||
| Basic | 382.2 | 382.4 | 382.9 | 382.1 |
| Effect of dilutive employee stock compensation | 2.5 | 4.3 | 2.9 | 4.4 |
| Diluted | 384.7 | 386.7 | 385.8 | 386.5 |
| Cash dividends declared per share of common stock | 0.88 | 0.84 | 2.64 | 2.52 |
Consolidated Balance Sheets
| Description | September 30 2026 (Unaudited) | December 31 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 3,271 | 4,011 |
| Marketable securities | — | 89 |
| Accounts receivable, less allowance of $226 ($216 in 2025) | 3,693 | 4,039 |
| Inventories: | ||
| Materials and supplies | 1,377 | 1,349 |
| Work in process | 484 | 415 |
| Finished goods | 3,886 | 3,546 |
| Total inventories | 5,747 | 5,310 |
| Prepaid expenses and other current assets | 1,472 | 1,306 |
| Total current assets | 14,183 | 14,755 |
| Property, plant and equipment: | ||
| Land, buildings and improvements | 1,822 | 1,793 |
| Machinery and equipment | 6,176 | 5,744 |
| Total property, plant and equipment | 7,998 | 7,537 |
| Less allowance for depreciation | 3,944 | 3,661 |
| Property, plant and equipment, net | 4,054 | 3,876 |
| Goodwill | 19,326 | 19,291 |
| Other intangibles, net | 5,542 | 5,681 |
| Noncurrent deferred income tax assets | 901 | 1,098 |
| Other noncurrent assets | 3,241 | 3,143 |
| Total assets | 47,247 | 47,844 |
| Liabilities and shareholders' equity | ||
| Current liabilities | ||
| Accounts payable | 1,634 | 1,799 |
| Accrued compensation | 1,363 | 1,595 |
| Income taxes | 65 | 418 |
| Dividends payable | 335 | 337 |
| Accrued expenses and other liabilities | 2,349 | 2,645 |
| Current maturities of debt | 754 | 1,000 |
| Total current liabilities | 6,500 | 7,794 |
| Long-term debt, excluding current maturities | 14,176 | 14,859 |
| Income taxes | 413 | 402 |
| Other noncurrent liabilities | 2,701 | 2,369 |
| Total liabilities | 23,790 | 25,424 |
| Shareholders' equity | ||
| Common stock, $0.10 par value | 38 | 38 |
| Additional paid-in capital | 2,764 | 2,597 |
| Retained earnings | 21,248 | 20,472 |
| Accumulated other comprehensive loss | (593) | (687) |
| Total shareholders' equity | 23,457 | 22,420 |
| Total liabilities and shareholders' equity | 47,247 | 47,844 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Nine Months 2026 | Nine Months 2025 |
|---|---|---|
| Operating activities | ||
| Net earnings | 2,774 | 2,397 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation | 361 | 334 |
| Amortization of intangible assets | 530 | 543 |
| Goodwill and other impairments | 294 | 163 |
| Share-based compensation | 208 | 195 |
| Sale of inventory stepped-up to fair value at acquisition | — | 160 |
| Deferred income tax (benefit) expense | 166 | 191 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 320 | 524 |
| Inventories | (468) | (373) |
| Accounts payable | (154) | (205) |
| Accrued expenses and other liabilities | (279) | (78) |
| Income taxes | (395) | (577) |
| Other, net | (54) | (373) |
| Net cash provided by operating activities | 3,303 | 2,901 |
| Investing activities | ||
| Acquisitions, net of cash acquired | (481) | (4,950) |
| Purchases of marketable securities | (23) | (32) |
| Proceeds/(Purchases) of short-term investments | — | 750 |
| Proceeds from sales of marketable securities | 112 | 40 |
| Purchases of property, plant and equipment | (605) | (493) |
| Proceeds from the sale of the Spinal Implants business | — | 165 |
| Other investing, net | (14) | (41) |
| Net cash used in investing activities | (1,011) | (4,561) |
| Financing activities | ||
| Proceeds (payments) on short-term borrowings, net | 247 | 1 |
| Proceeds from issuance of long-term debt | — | 2,979 |
| Payments on long-term debt | (1,000) | (650) |
| Payments of dividends | (1,012) | (963) |
| Repurchases of common stock | (1,000) | — |
| Cash paid for taxes from withheld shares | (156) | (132) |
| Other financing, net | (77) | (29) |
| Net cash provided by (used in) financing activities | (2,998) | 1,206 |
| Effect of exchange rate changes on cash and cash equivalents | (34) | 58 |
| Change in cash and cash equivalents | (740) | (396) |
| Cash and cash equivalents at beginning of period | 4,011 | 3,652 |
| Cash and cash equivalents at end of period | 3,271 | 3,256 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗