Stryker Tops $25 Billion in 2025 Sales, Forecasts 8% to 9.5% Organic Growth

Stryker reported fourth-quarter 2025 net sales of $7.2 billion, up 11.4% from a year earlier, and full-year net sales of $25.1 billion, up 11.2%, the Portage, Michigan, company said in its earnings release after the market closed on Thursday, January 29.

Organic net sales, which exclude currency effects and acquisitions and divestitures, rose 11.0% in the quarter and 10.3% for the year. Almost all of that came from higher unit volume: price added 0.1 percentage point in the quarter and 0.4 point for the year, the company said.

"Having surpassed $25 billion in revenue, we enter 2026 with significant momentum and are poised to continue delivering growth at the high end of MedTech," said Kevin Lobo, Stryker's chair and chief executive.

Segment results

Sales in the MedSurg and Neurotechnology segment rose 17.5% to $4.6 billion in the quarter and 15.7% to $15.6 billion for the year. Orthopaedics sales rose 2.2% to $2.6 billion in the quarter and 4.3% to $9.5 billion for the year; on an organic basis, orthopaedics grew 8.4% in the quarter and 9.5% for the year, according to the release.

Vascular was the fastest-growing business, with 2025 sales up 50.6% to $1.97 billion, Medical Device Network reported. Stryker completed its $4.9 billion acquisition of Inari Medical in February 2025, and Inari is now its peripheral vascular business, the outlet reported. Jason Beach, Stryker's vice president of finance and investor relations, told analysts that Inari had finished the year with "robust procedural growth in the high teens," according to the outlet.

In orthopaedics, trauma and extremities sales grew 12.6% to $3.94 billion, while knee sales rose 8.5% to $2.65 billion and hip sales 9.5% to $1.86 billion, Medical Device Network reported. Beach credited the Mako 4 robotic system for knee and hip replacement and said the installed base had passed 3,000 systems worldwide. "As we exited the year, over two thirds of our knees and over one third of our hips were performed on Mako in the US," he said.

Earnings and 2026 outlook

Reported earnings per share rose 56.0% to $2.20 in the quarter and 8.2% to $8.40 for the year. Adjusted earnings per share, which exclude acquisition and integration costs, structural optimization charges, recall-related matters and other items, rose 11.5% to $4.47 in the quarter and 11.8% to $13.63 for the year. Adjusted operating margin widened by 100 basis points to 30.2% in the quarter and 26.3% for the year.

Quarterly revenue of $7.17 billion beat analysts' average estimate of $7.12 billion, according to LSEG data cited by Reuters, as reported by Medical Device Network.

For 2026, Stryker forecast organic net sales growth of 8.0% to 9.5% and adjusted earnings per share of $14.90 to $15.10. The company cited healthy procedure volumes and strong demand for its capital equipment, and said its sales guidance includes a modestly favorable pricing effect. It expects currency to have a slightly positive impact if exchange rates hold near current levels.