Income StatementBalance SheetCash FlowSegments
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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$121.33B
P/E Ratio36.36

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$996.0M$945.0M$957.0M$960.0M$1.1B$1.0B
Instruments$790.0M$838.0M$768.0M$760.0M$925.0M$920.0M
Medical$1.1B$945.0M$990.0M$985.0M$1.3B$902.0M
Endoscopy$1.0B$867.0M$899.0M$896.0M$1.1B$868.0M
Knees$687.0M$639.0M$640.0M$628.0M$749.0M$670.0M
Ortho Tech—$617.0M———$646.0M
Vascular$341.0M$406.0M$498.0M$525.0M$539.0M$517.0M
Hips$463.0M$443.0M$466.0M$457.0M$499.0M$460.0M
Spine$186.0M$166.0M$5.0M$6.0M$8.0M$2.0M

Geographic

Net Property, Plant & Equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia Pacific$75.0M———$97.0M—
Europe, Middle East, Africa$1.3B———$1.6B—
Other foreign countries$116.0M———$133.0M—
United States$2.0B———$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$505.0M$541.0M$541.0M$541.0M$541.0M—
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$213.0M$818.8M$818.8M$818.8M$818.8M-$74.0M
Orthopaedics$75.0M-$250.0K-$250.0K-$250.0K-$250.0K$0.0

Capital Expenditures During Period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$140.0M$33.0M$62.0M$58.0M$67.0M$58.0M
Orthopaedics$59.0M$49.0M$52.0M$68.0M$127.0M$41.0M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Orthopaedics$108.0M$107.0M$104.0M$111.0M$110.0M$119.0M
MedSurg and Neurotechnology:$38.0M$48.0M$58.0M$56.0M$66.0M$55.0M

Foreign exchange and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology$21.5M$18.3M$18.3M$18.3M$18.3M-$19.0M
Orthopaedics-$42.5M$22.3M$22.3M$22.3M$22.3M-$10.0M

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:—————-$518.0M
Orthopaedics—————$518.0M

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$672.0M$775.0M$599.0M$620.0M$722.0M$823.0M

Research, development and engineering expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$190.0M$208.0M$246.0M$247.0M$230.0M$231.0M
Orthopaedics$134.0M$158.0M$127.0M$132.0M$125.0M$146.0M

Segment operating income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Orthopaedics$794.0M$854.0M$678.0M$649.0M$852.0M$846.0M
MedSurg and Neurotechnology:$1.3B$757.0M$1.1B$1.1B$1.5B$700.0M

Selling, general and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
MedSurg and Neurotechnology:$885.0M$859.0M$984.0M$972.0M$1.0B$930.0M
Orthopaedics$844.0M$925.0M$743.0M$742.0M$800.0M$880.0M

Revenue

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