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Stryker Business Segments

Business, geographic, and product segment breakdowns

Stryker generates $25.3B in annual revenue across 2 key segments: MedSurg and Neurotechnology: ($15.3B), and Orthopaedics: ($9.9B). The company-wide operating margin is 19.74%. Based on the Q1 2026 filing.

MedSurg and Neurotechnology: (TTM)$15.3BOrthopaedics: (TTM)$9.9B
Latest FilingQ1 2026
Report Date2026-05-11
Market Cap$117.17B
P/E Ratio35.11

Products & Services

Concentration risk (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Customer Lease Agreements—4.0%4.0%4.0%—4.0%

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Trauma and Extremities$996M$945M$957M$960M$1.1B$1B
Instruments$790M$838M$768M$760M$925M$920M
Medical$1.1B$945M$990M$985M$1.3B$902M
Endoscopy$1B$867M$899M$896M$1.1B$868M
Knees$687M$639M$640M$628M$749M$670M
Ortho Tech—$617M———$646M
Vascular$341M$406M$498M$525M$539M$517M
Hips$463M$443M$466M$457M$499M$460M
Spine$186M$166M$5M$6M$8M$2M

Geographic

Net Property, Plant & Equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia Pacific$75M———$97M—
Europe, Middle East, Africa$1.3B———$1.6B—
Other foreign countries$116M———$133M—
United States$2B———$2.1B—

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$4.9B$4.4B$4.6B$4.6B$5.4B$4.5B
International$1.6B$1.4B$1.5B$1.5B$1.7B$1.5B
Asia Pacific$505M$541M$541M$541M$541M—
Europe, Middle East, Africa$724.3M$795.3M$795.3M$795.3M$795.3M—
Other foreign countries$183.8M$191.3M$191.3M$191.3M$191.3M—

Business Segments

Additions and adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology$213M$818.8M$818.8M$818.8M$818.8M-$74M
Orthopaedics$75M-$250K-$250K-$250K-$250K$0

Capital Expenditures During Period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$140M$33M$62M$58M$67M$58M
Orthopaedics$59M$49M$52M$68M$127M$41M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Orthopaedics$108M$107M$104M$111M$110M$119M
MedSurg and Neurotechnology:$38M$48M$58M$56M$66M$55M

Foreign exchange and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology$21.5M$18.3M$18.3M$18.3M$18.3M-$19M
Orthopaedics-$42.5M$22.3M$22.3M$22.3M$22.3M-$10M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$9.2B———$12.6B$11.9B
Orthopaedics$6.6B———$6.7B$7.2B

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$3.9B$3.1B$3.8B$3.8B$4.6B$3.2B
Orthopaedics:$2.6B$2.8B$2.3B$2.3B$2.6B$2.8B

Reallocation of goodwill from MedSurg and Neurotechnology segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:—————-$518M
Orthopaedics—————$518M

Reclassification to: cost of sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$1.5B$1.2B$1.4B$1.4B$1.7B$1.3B
Orthopaedics$672M$775M$599M$620M$722M$823M

Research, development and engineering expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$190M$208M$246M$247M$230M$231M
Orthopaedics$134M$158M$127M$132M$125M$146M

Segment operating income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Orthopaedics$794M$854M$678M$649M$852M$846M
MedSurg and Neurotechnology:$1.3B$757M$1.1B$1.1B$1.5B$700M

Selling, general and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$885M$859M$984M$972M$1B$930M
Orthopaedics$844M$925M$743M$742M$800M$880M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Orthopaedics$2.6B$2.8B$2.3B$2.3B$2.6B$2.8B