Stryker Corporation stock research
FY2023 Q3
Stryker (SYK) Gross Margin — Quarter Ended Sep 30, 2023
Revenue declined from the prior quarter but rose compared to the same quarter last year. Gross profit held steady versus the prior quarter and increased year over year, while cost of revenue was unchanged sequentially and higher annually, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue declined from the prior quarter but rose compared to the same quarter last year. Gross profit held steady versus the prior quarter and increased year over year, while cost of revenue was unchanged sequentially and higher annually, resulting in an improved gross margin.
- The most observable driver of the margin improvement is that gross profit remained unchanged from the prior quarter even as revenue decreased, which lifted the margin ratio.
- Compared with the immediately preceding quarter, gross margin improved. Compared with the same quarter one year earlier, gross margin also improved, as revenue and gross profit both grew while cost of revenue increased at a slower pace.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
64.3%
Gross profit
$3.2B
Revenue
$4.9B
Cost of revenue
$1.8B
Quarter-over-quarter change
+0.7 pts
Year-over-year change
+2.2 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% |
| Sep 30, 2023 | $4.9B | $3.2B | $1.8B | 64.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
+0.7 pts
Year-over-year change
Sep 30, 2022
+2.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver of the margin improvement is that gross profit remained unchanged from the prior quarter even as revenue decreased, which lifted the margin ratio.
Compared with the immediately preceding quarter, gross margin improved. Compared with the same quarter one year earlier, gross margin also improved, as revenue and gross profit both grew while cost of revenue increased at a slower pace.
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