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Stryker SYK Orthopaedics — Segment operating income

Other segment segments

MedSurg and Neurotechnology:
$700M-7.5%

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Other financials

Income statement

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Revenue$6.6B+9.4%
Gross profit$4.5B+17.1%
Operating income$1.7B+49.1%
Net income$1.3B+44.3%
EPS (diluted)$3.30+44.1%

Balance sheet

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Cash & equivalents$3.4B+42.8%
Total debt$14.2B-15.2%
Total assets$47.9B+3.5%

Cash flow

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Operating cash flow$1.3B+13.5%
CapEx$202.0M+10.4%
Free cash flow$1.1B+14.1%

Valuation

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Market cap$128.87B-9.8%
Enterprise value$139.67B-11.2%
P/E34.6×-14.4×
P/S5×-1.0×

Profitability

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Gross margin65%+0.8pp
Operating margin21.4%+6.2pp
Net margin14.4%+2.2pp
FCF margin18.2%+1.3pp

Returns & leverage

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Return on equity32.8%—
Debt / equity0.8×—
Current ratio2.2×+0.4×

Where this comes from

Reported directly by Stryker in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Stryker’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 11:10 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000310764-26-000031
Segment ResultsThree Months / 2026Three Months / 2025
Amortization of intangible assets180167
Total depreciation and amortization$397$361
MedSurg and Neurotechnology$700$757
Orthopaedics846854
Segment operating income$1,546$1,611
Items not allocated to segments:
Corporate and Other$(275)$(267)
Inventory stepped up to fair value—(34)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Stryker's orthopaedics — segment operating income?
Stryker (SYK) reported orthopaedics — segment operating income of $846M in Q1 2026.
How has Stryker's orthopaedics — segment operating income changed year-over-year?
Stryker's orthopaedics — segment operating income decreased by 0.9% year-over-year, from $854M to $846M.
What is the long-term trend for Stryker's orthopaedics — segment operating income?
Over 3 years (2022 to 2025), Stryker's orthopaedics — segment operating income has grown at a 11.3% compound annual growth rate (CAGR), from $2.2B to $3.03B.
What does orthopaedics — segment operating income mean?
This is the primary measure of profitability for the Orthopaedics segment, calculated as segment revenue minus operating expenses. It excludes corporate-level costs, interest, and taxes to show the core performance of the orthopedic business. It is a key indicator of the segment's ability to generate profit from its specialized medical device portfolio.

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