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Get filing alertsStryker reports 11.2% sales growth for 2025, reorganizes segments around Mako robotics
Filed June 26, 2026 · Period ending June 26, 2026 · ~1 min read
Key Changes
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high
Effective tax rate nearly doubled to 28.1% in 2025 from 14.3% in 2024, primarily due to intellectual property transfers between tax jurisdictions, creating a headwind to future profitability.
Exhibit 99.1 view on EDGAR → -
high
Full-year 2025 net sales grew 11.2% (10.3% organic constant-currency) with net earnings of $3.2 billion ($8.40 per diluted share); adjusted EPS of $13.63 up 11.8% year-over-year.
Exhibit 99.1 view on EDGAR → -
medium
Issued $3 billion in senior unsecured notes (4.550%–5.200%, maturities 2027–2035) and repaid $1.4 billion of lower-rate debt, increasing interest expense but extending maturities.
Exhibit 99.1 view on EDGAR → -
medium
Completed sale of Spinal Implants business to Viscogliosi Brothers in April 2025; final consideration subject to adjustment of up to $245 million downward or $57 million upward.
Exhibit 99.1 view on EDGAR → -
medium
Created new Ortho Tech business unit in Q1 2026 combining orthopaedic instruments with Mako robotics and enabling technologies; recast three years of segment financials (presentation change only).
Item 8.01 verify on EDGAR →
Summary
Stryker delivered strong 2025 results with 11.2% sales growth and $3.2 billion in net earnings, continuing its acquisition-driven growth strategy with $5.0 billion deployed.
However, the effective tax rate nearly doubled to 28.1% from 14.3% the prior year due to intellectual property transfers between tax jurisdictions, a material headwind that reduces net earnings and will pressure future profitability unless the rate normalizes. The company refinanced $1.4 billion of low-rate debt with $3 billion in new notes at 4.550%–5.200%, extending maturities but increasing interest expense.
The company completed its exit from the struggling Spinal Implants business in April 2025 and reorganized its structure in Q1 2026 to create a new Ortho Tech unit combining orthopaedic instruments with Mako robotics. This consolidation aims to simplify the customer experience and accelerate innovation around the Mako platform. The segment recasting is a presentation change only—no restatement of prior financials. The tax rate increase is the key item to monitor: whether it persists at 28% or reverts closer to the historical mid-teens range will materially affect earnings power going forward.
Section-by-Section Diff
Event · Exhibit 99.1
Stryker filed its 2025 annual 10-K results in an 8-K, reporting 11.2% sales growth, $3.2B net earnings, $3B debt issuance, and completion of Spinal Implants sale.
Added in current filing · view on EDGAR →
In 2025 we achieved reported net sales growth of 11.2%.
Excluding the impact of acquisitions and divestitures, sales grew
10.3% in constant currency. We reported net earnings of $3,246
and net earnings per diluted share of $8.40.
Stryker reported full-year 2025 net sales growth of 11.2% (10.3% organic constant-currency) with net earnings of $3,246 million ($8.40 per diluted share). Adjusted net earnings per diluted share were $13.63, up 11.8% year-over-year. The company continued its capital allocation strategy by investing $4,960 million in acquisitions and paying $1,284 million in dividends.
Added in current filing · view on EDGAR →
In the first quarter 2026 we announced a change in our
organizational structure. Our new Ortho Tech business combines
the orthopaedic instruments portfolio from our Instruments
business with the Mako and enabling technologies portfolio from
our Other Orthopaedics business. By bringing Mako, power tools,
cutting accessories, enabling technologies and the teams behind
these products together under one business, we are simplifying
the customer experience and striving to increase our speed to
market through focused innovation.
Stryker reorganized its business structure in Q1 2026, creating a new Ortho Tech business that combines orthopaedic instruments with Mako robotics and enabling technologies. The company states this simplifies the customer experience and accelerates innovation. All historical segment financials have been recast to reflect the new structure.
Event · Item 8.01 — Other Events
Stryker reorganized segments in Q1 2026, creating new Ortho Tech business; filing recasts prior financials to reflect new structure.
Added in current filing · verify on EDGAR →
In the first quarter 2026 Stryker Corporation ("we" or the "Company") announced a change in our organizational structure. Our new Ortho Tech business combines the orthopaedic instruments portfolio from our Instruments business with the Mako and enabling technologies portfolio from our Other Orthopaedics business.
Stryker created a new Ortho Tech business unit by combining orthopaedic instruments from its Instruments business with Mako and enabling technologies from Other Orthopaedics. The company states this simplifies the customer experience and aims to increase speed to market through focused innovation. The company will continue to have two reportable segments: MedSurg and Neurotechnology, and Orthopaedics.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Accordingly, the Company is filing this Form 8-K to recast our consolidated financial statements for each of the three years in the period ended December 31, 2025, to reflect the changes in segment reporting as described above. The updates do not represent a restatement of previously issued financial statements.
The company is recasting three years of consolidated financial statements (through December 31, 2025) to reflect the new segment structure. This is a recasting for presentation purposes only, not a restatement of previously issued financials, meaning no errors are being corrected and no prior numbers are changing in aggregate.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify