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Medline vs Stryker: revenue, profit, margins and growth compared

Medline brought in $28.4B of revenue in fiscal 2025, Stryker $25.1B in fiscal 2025. Medline kept 4.1% of its revenue as net profit, Stryker 12.9%. Free cash flow was $1.3B at Medline and $4.3B at Stryker.

Side by side, latest fiscal year

MDLNSYK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$28.4B$25.1B
Revenue growthn/a+11.2%
Net income$1.2B$3.2B
Net margin4.1%12.9%
Free cash flow$1.3B$4.3B
Free cash flow margin4.6%17.1%
Earnings per share (diluted)-$0.01$8.40
Cash$1.9B$4B
Debt$12.6B$14.9B
Price to earningsn/a32.4
Market value$45.6B$104.5B
Dividend yieldn/an/a
Rank by revenue in sector#23 of 523 · Health care#24 of 523 · Health care

Over the years

Revenue
MDLN FY2023: $23.2BMDLN FY2025: $25.5BMDLN FY2025: $28.4BSYK FY2018: $13.6BSYK FY2019: $14.9BSYK FY2020: $14.4BSYK FY2021: $17.1BSYK FY2022: $18.4BSYK FY2023: $20.5BSYK FY2024: $22.6BSYK FY2025: $25.1BFY18FY19FY20FY21FY22FY23FY24FY25
MDLN $28.4BSYK $25.1B
Net income
MDLN FY2023: $234MMDLN FY2025: $1.2BMDLN FY2025: $1.2BMDLN FY2025: $1.2BSYK FY2018: $3.6BSYK FY2019: $2.1BSYK FY2020: $1.6BSYK FY2021: $2BSYK FY2022: $2.4BSYK FY2023: $3.2BSYK FY2024: $3BSYK FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
MDLN $1.2BSYK $3.2B
Net margin
MDLN FY2023: 1.0%MDLN FY2025: 4.6%MDLN FY2025: 4.1%SYK FY2018: 26.1%SYK FY2019: 14.0%SYK FY2020: 11.1%SYK FY2021: 11.7%SYK FY2022: 12.8%SYK FY2023: 15.4%SYK FY2024: 13.2%SYK FY2025: 12.9%FY18FY19FY20FY21FY22FY23FY24FY25
MDLN 4.1%SYK 12.9%
Revenue growth
MDLN FY2025: +9.8%SYK FY2019: +9.4%SYK FY2020: -3.6%SYK FY2021: +19.2%SYK FY2022: +7.8%SYK FY2023: +11.1%SYK FY2024: +10.2%SYK FY2025: +11.2%FY19FY20FY21FY22FY23FY24FY25
MDLN +9.8%SYK +11.2%
Free cash flow
MDLN FY2023: $1.4BMDLN FY2025: $1.4BMDLN FY2025: $1.3BSYK FY2018: $2BSYK FY2019: $1.5BSYK FY2020: $2.8BSYK FY2021: $2.7BSYK FY2022: $2BSYK FY2023: $3.1BSYK FY2024: $3.5BSYK FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
MDLN $1.3BSYK $4.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Medline and Stryker

Which is bigger by revenue, Medline or Stryker?

Medline is bigger by revenue: $28.4B in fiscal 2025, against $25.1B for Stryker in fiscal 2025.

Which keeps more of its revenue as profit, Medline or Stryker?

Medline had a net margin of 4.1% in fiscal 2025; Stryker had 12.9% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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