Stryker Corporation stock research
FY2024 Q1
Stryker (SYK) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both decreased from the prior quarter but increased compared to the same quarter last year. Gross margin was slightly lower than the prior quarter and higher than the year-ago quarter, reflecting a mixed sequential and year-over-year performance.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit both decreased from the prior quarter but increased compared to the same quarter last year. Gross margin was slightly lower than the prior quarter and higher than the year-ago quarter, reflecting a mixed sequential and year-over-year performance.
- The relationship among revenue, cost of revenue, and gross profit shows that gross margin remained relatively stable, with cost of revenue changing proportionally to revenue across periods.
- Compared to the immediately preceding quarter, revenue and gross profit were lower, while gross margin weakened slightly. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
63.6%
Gross profit
$3.3B
Revenue
$5.2B
Cost of revenue
$1.9B
Quarter-over-quarter change
-0.8 pts
Year-over-year change
+0.4 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% |
| Mar 31, 2024 | $5.2B | $3.3B | $1.9B | 63.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-0.8 pts
Year-over-year change
Mar 31, 2023
+0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, cost of revenue, and gross profit shows that gross margin remained relatively stable, with cost of revenue changing proportionally to revenue across periods.
Compared to the immediately preceding quarter, revenue and gross profit were lower, while gross margin weakened slightly. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin improved.
Monitor the trend in gross margin stability given the slight sequential decline despite year-over-year improvement.