Stryker Corporation stock research
FY2023 Q2
Stryker (SYK) Gross Margin — Quarter Ended Jun 30, 2023
Revenue and gross profit increased, while cost of revenue remained at the same level as the prior quarter, resulting in a higher gross margin. Compared to the same quarter a year ago, all three metrics were higher, yet gross margin also improved.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue and gross profit increased, while cost of revenue remained at the same level as the prior quarter, resulting in a higher gross margin. Compared to the same quarter a year ago, all three metrics were higher, yet gross margin also improved.
- Gross margin strengthened, with revenue rising while cost of revenue held steady relative to the preceding quarter; the year-over-year improvement was accompanied by revenue growth that outpaced the increase in cost of revenue.
- Compared to the prior quarter, revenue and gross profit were higher, cost of revenue was unchanged, and gross margin improved. Compared to the same quarter a year earlier, revenue, gross profit, and cost of revenue were all higher, but gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
63.7%
Gross profit
$3.2B
Revenue
$5.0B
Cost of revenue
$1.8B
Quarter-over-quarter change
+0.5 pts
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% |
| Jun 30, 2023 | $5.0B | $3.2B | $1.8B | 63.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
+0.5 pts
Year-over-year change
Jun 30, 2022
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin strengthened, with revenue rising while cost of revenue held steady relative to the preceding quarter; the year-over-year improvement was accompanied by revenue growth that outpaced the increase in cost of revenue.
Compared to the prior quarter, revenue and gross profit were higher, cost of revenue was unchanged, and gross margin improved. Compared to the same quarter a year earlier, revenue, gross profit, and cost of revenue were all higher, but gross margin was also higher.
The company identifies exchange rate risk as a significant market risk exposure that may affect operating results, making it a factor to monitor.