Short answer
Stryker Corporation (SYK) filed its fiscal 2025 10-K annual report with the SEC on Feb 11, 2026. It reported revenue of $25.1B (+11.2% year over year) and net income of $3.2B.
- Top risk flagged: Regulatory risk: EU medical device regulations require costly quality system updates, labeling changes, and remanufacturing impacting R&D and compliance expenses in 2025
FY2025 key financial metrics · XBRL
- Revenue
- $25.1B
- +11.2% YoY
- Net income
- $3.2B
- +8.5% YoY
- Operating margin
- 19.5%
- +3.1 pp YoY
- Gross margin
- 64.0%
- +0.1 pp YoY
- EPS (diluted)
- $8.40
- +8.2% YoY
- ROE
- 14.5%
- −0.0 pp YoY
- Operating cash flow
- $5.0B
- +18.9% YoY
Source: XBRL data from the Stryker Corporation (SYK) FY2025 10-K on SEC EDGAR. USD.
Stryker Corporation FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model focused on medical technology and device manufacturing, emphasizing innovation and compliance
- No new products, services, or segments explicitly introduced or emphasized in the 2026 filing
- Continued adherence to corporate governance enhancements, including adoption of updated Insider Trading Policies and transparency practices
- Equity compensation plans with 36.5 million shares authorized for issuance, including 11.2 million options outstanding at $234.56 average exercise price
- Noteworthy emphasis on proxy statement incorporation by reference for governance, compensation, and related-party matters instead of detailed disclosures within the filing
Management Discussion & Analysis
- Revenue $18.0B, up 9% YoY driven by MedSurg and Neurotechnology segment growth
- Operating margin 22.5% vs 21.0% YoY due to product mix and cost management
- MedSurg and Neurotechnology segment revenue $11.2B up 12%, Orthopaedics $6.8B up 4%
- Cash flow from operations $3.2B; capital allocation: $1.0B acquisitions, $0.5B dividends, $0.8B share repurchases
- Management highlights risks from tariffs, inflation, and geopolitical issues impacting costs and demand
Risk Factors
- Regulatory risk: EU medical device regulations require costly quality system updates, labeling changes, and remanufacturing impacting R&D and compliance expenses in 2025
- Geopolitical/macroeconomic risk: Foreign currency fluctuations affected net sales by ±0.5%, with 10.7% growth in constant currency highlighting sensitivity to exchange rates
- Operational risk: Inventory stepped up to fair value increased amortization expenses by $173M in 2025, reflecting acquisition integration supply chain complexity
- Competitive risk: Sales growth slowdown in Orthopaedics segment (4.3% in 2025 vs 8.9% in 2024) signals risk from market competition affecting higher-margin segment
- Financial risk: Increased interest expense to $607M in 2025 due to $3.0B revolving credit facility and $3.0B commercial paper limit raising leverage and refinancing needs
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.