Stryker Corporation stock research
FY2023 Q1
Stryker (SYK) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both decreased from the prior quarter but increased compared to the same quarter last year. Gross margin improved slightly from the prior quarter but weakened versus the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue and gross profit both decreased from the prior quarter but increased compared to the same quarter last year. Gross margin improved slightly from the prior quarter but weakened versus the year-ago period.
- The gross margin improved relative to the prior quarter as the proportion of cost of revenue to revenue declined. The strongest observable driver in the current quarter was gross profit performance relative to revenue.
- Compared to the prior quarter, revenue and gross profit were lower while gross margin was higher. Compared to the same quarter one year earlier, revenue and gross profit were higher, but gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
63.1%
Gross profit
$3.0B
Revenue
$4.8B
Cost of revenue
$1.8B
Quarter-over-quarter change
n/a
Year-over-year change
-0.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $4.8B | $3.0B | $1.8B | 63.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved relative to the prior quarter as the proportion of cost of revenue to revenue declined. The strongest observable driver in the current quarter was gross profit performance relative to revenue.
Compared to the prior quarter, revenue and gross profit were lower while gross margin was higher. Compared to the same quarter one year earlier, revenue and gross profit were higher, but gross margin was lower.
Monitor the trend in the cost of revenue as a share of revenue in the next quarter.