Stratasys Ltd Financials

SSYS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Stratasys Ltd (SSYS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 36/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Stratasys Ltd has an operating margin of -13.2%, meaning the company retains $-13 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -15.0% the prior year.

Growth

Stratasys Ltd's revenue declined 3.7% year-over-year, from $572.5M to $551.1M. This contraction results in a growth score of 27/100.

Leverage

Stratasys Ltd carries a low D/E ratio of 0.27, meaning only $0.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.57, Stratasys Ltd holds $3.57 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.

Cash Flow

While Stratasys Ltd generated $15.1M in operating cash flow, capex of $22.1M consumed most of it, leaving -$7.0M in free cash flow. This results in a low score of 22/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Stratasys Ltd generates a -12.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -15.2% the prior year.

Piotroski F-Score Neutral

4/9

Stratasys Ltd passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-0.15x

For every $1 of reported earnings, Stratasys Ltd generates $-0.15 in operating cash flow ($15.1M OCF vs -$104.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$551.1M

YoY-3.7%

5Y CAGR+1.1%

10Y CAGR-2.3%

Stratasys Ltd generated $551.1M in revenue in fiscal year 2025. This represents a decrease of 3.7% from the prior year.

EBITDA

-$29.3M

YoY+27.3%

Stratasys Ltd's EBITDA was -$29.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 27.3% from the prior year.

Net Income

-$104.3M

YoY+13.3%

Stratasys Ltd reported -$104.3M in net income in fiscal year 2025. This represents an increase of 13.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$7.0M

YoY-128.6%

Stratasys Ltd generated -$7.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 128.6% from the prior year.

Cash & Debt

$94.5M

YoY+34.7%

5Y CAGR-19.1%

10Y CAGR-9.5%

Stratasys Ltd held $94.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

86M

YoY+20.1%

5Y CAGR+8.7%

10Y CAGR+5.2%

Stratasys Ltd had 86M shares outstanding in fiscal year 2025. This represents an increase of 20.1% from the prior year.

Margins & Returns

Gross Margin

41.2%

YoY-3.6pp

5Y CAGR-0.9pp

10Y CAGR+26.6pp

Stratasys Ltd's gross margin was 41.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.6 percentage points from the prior year.

Operating Margin

-13.2%

YoY+1.8pp

5Y CAGR+74.4pp

10Y CAGR+184.2pp

Stratasys Ltd's operating margin was -13.2% in fiscal year 2025, reflecting core business profitability. This is up 1.8 percentage points from the prior year.

Net Margin

-18.9%

YoY+2.1pp

5Y CAGR+66.3pp

10Y CAGR+178.3pp

Stratasys Ltd's net profit margin was -18.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.1 percentage points from the prior year.

Return on Equity

-12.4%

YoY+2.8pp

5Y CAGR+46.1pp

10Y CAGR+103.1pp

Stratasys Ltd's ROE was -12.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$77.3M

YoY-22.0%

5Y CAGR-1.7%

10Y CAGR-4.5%

Stratasys Ltd invested $77.3M in research and development in fiscal year 2025. This represents a decrease of 22.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$22.1M

YoY+103.4%

5Y CAGR-3.9%

10Y CAGR-12.5%

Stratasys Ltd invested $22.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 103.4% from the prior year.

SSYS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$551.1M-3.7%	$572.5M-8.8%	$627.6M-3.7%	$651.5M+7.3%	$607.2M+16.6%	$520.8M
Cost of Revenue	$323.8M+2.6%	$315.6M-12.5%	$360.6M-3.9%	$375.0M+8.0%	$347.1M+15.2%	$301.4M
Gross Profit	$227.3M-11.5%	$256.8M-3.8%	$267.0M-3.4%	$276.5M+6.3%	$260.1M+18.5%	$219.4M
R&D Expenses	$77.3M-22.0%	$99.1M+5.0%	$94.4M+1.7%	$92.9M+5.2%	$88.3M+5.1%	$84.0M
SG&A Expenses	$222.5M-8.6%	$243.3M-6.5%	$260.2M+8.1%	$240.8M-4.1%	$250.9M+22.3%	$205.2M
Operating Income	-$72.5M+15.4%	-$85.7M+2.2%	-$87.6M-53.2%	-$57.2M+27.8%	-$79.2M+82.6%	-$456.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$3.1M+3.7%	$3.0M-48.6%	$5.8M+6.0%	$5.5M+239.6%	-$3.9M+76.2%	-$16.4M
Net Income	-$104.3M+13.3%	-$120.3M+2.3%	-$123.1M-324.8%	-$29.0M+53.3%	-$62.0M+86.0%	-$443.7M
EPS (Diluted)	N/A	N/A	N/A	$-0.44+55.1%	$-0.98+87.9%	$-8.08

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$140.0M+2.2%	$137.0M-0.8%	$138.1M+1.5%	$136.0M-9.5%	$150.4M+7.4%	$140.0M+1.4%	$138.0M-4.2%	$144.1M
Cost of Revenue	$88.5M+9.5%	$80.9M+2.9%	$78.6M+3.7%	$75.8M-6.0%	$80.7M+4.4%	$77.3M-0.3%	$77.5M-3.3%	$80.2M
Gross Profit	$51.5M-8.3%	$56.1M-5.7%	$59.5M-1.2%	$60.2M-13.6%	$69.7M+11.1%	$62.7M+3.7%	$60.5M-5.3%	$63.9M
R&D Expenses	$18.0M-12.3%	$20.6M+3.2%	$19.9M+6.0%	$18.8M-24.2%	$24.8M+0.3%	$24.7M-3.8%	$25.7M+7.1%	$24.0M
SG&A Expenses	$54.2M-6.9%	$58.2M+3.6%	$56.2M+4.3%	$53.9M-1.4%	$54.6M-14.0%	$63.5M+4.3%	$60.9M-5.5%	$64.4M
Operating Income	-$20.8M+8.6%	-$22.7M-36.6%	-$16.6M-34.0%	-$12.4M-27.9%	-$9.7M+61.9%	-$25.5M+2.2%	-$26.0M-6.5%	-$24.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$1.1M+102.7%	$524K-49.7%	$1.0M+128.8%	$455K-30.3%	$653K-22.4%	$842K+10.5%	$762K+6.4%	$716K
Net Income	-$18.9M+66.1%	-$55.6M-232.2%	-$16.7M-28.3%	-$13.1M+68.9%	-$41.9M-57.6%	-$26.6M-3.4%	-$25.7M+0.9%	-$26.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SSYS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.1B+4.3%	$1.0B-9.2%	$1.1B-10.0%	$1.3B-1.4%	$1.3B+29.0%	$990.0M
Current Assets	$582.0M+13.5%	$513.0M-8.4%	$560.1M-20.0%	$700.2M-12.5%	$800.7M+42.9%	$560.5M
Cash & Equivalents	$94.5M+34.7%	$70.2M-15.0%	$82.6M-45.1%	$150.5M-38.1%	$243.2M-10.6%	$272.1M
Inventory	$145.2M-19.2%	$179.8M-6.8%	$193.0M-0.6%	$194.1M+50.3%	$129.1M-1.9%	$131.7M
Accounts Receivable	$160.5M+4.9%	$153.0M-11.1%	$172.0M+18.8%	$144.7M+11.9%	$129.4M+22.0%	$106.1M
Goodwill	$101.6M+2.5%	$99.1M-1.0%	$100.1M+54.0%	$65.0M-0.3%	$65.1M+82.5%	$35.7M
Total Liabilities	$230.9M-2.5%	$236.8M-4.9%	$249.1M-17.1%	$300.4M-6.5%	$321.2M+39.4%	$230.4M
Current Liabilities	$163.0M-2.5%	$167.2M-5.2%	$176.4M-16.2%	$210.7M+0.1%	$210.5M+59.3%	$132.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$842.9M+6.3%	$793.0M-10.4%	$884.8M-7.8%	$959.4M+0.4%	$956.0M+25.9%	$759.4M
Retained Earnings	-$2.4B-4.5%	-$2.3B-5.5%	-$2.2B-5.9%	-$2.1B-1.4%	-$2.0B-3.1%	-$2.0B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.1B-1.2%	$1.1B-4.5%	$1.1B+11.3%	$1.0B-0.6%	$1.0B-4.9%	$1.1B+0.1%	$1.1B-1.6%	$1.1B
Current Assets	$582.0M-3.6%	$603.7M-1.8%	$614.8M+21.1%	$507.6M-1.0%	$513.0M-1.2%	$519.3M-0.9%	$524.0M-3.3%	$542.1M
Cash & Equivalents	$94.5M+32.3%	$71.5M+0.6%	$71.1M+1.4%	$70.1M-0.2%	$70.2M+9.8%	$64.0M-9.7%	$70.9M-22.2%	$91.1M
Inventory	$145.2M-8.8%	$159.3M-3.2%	$164.6M-3.1%	$169.9M-5.5%	$179.8M-7.9%	$195.2M-0.7%	$196.5M+0.7%	$195.1M
Accounts Receivable	$160.5M+6.0%	$151.3M-4.1%	$157.9M+1.1%	$156.2M+2.1%	$153.0M-0.4%	$153.7M+2.1%	$150.5M-3.1%	$155.3M
Goodwill	$101.6M+0.1%	$101.5M-0.1%	$101.6M+2.1%	$99.5M+0.4%	$99.1M-1.0%	$100.1M+0.9%	$99.2M+0.1%	$99.1M
Total Liabilities	$230.9M-1.6%	$234.7M-0.8%	$236.6M-0.7%	$238.3M+0.7%	$236.8M-5.6%	$250.9M+8.4%	$231.4M-1.0%	$233.9M
Current Liabilities	$163.0M-1.3%	$165.2M-0.5%	$166.0M-1.2%	$168.1M+0.5%	$167.2M-1.3%	$169.4M+2.9%	$164.7M-2.1%	$168.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$842.9M-1.1%	$852.5M-5.5%	$902.4M+15.0%	$784.8M-1.0%	$793.0M-4.7%	$831.8M-2.2%	$850.5M-1.8%	$866.1M
Retained Earnings	-$2.4B-0.8%	-$2.4B-2.4%	-$2.4B-0.7%	-$2.3B-0.6%	-$2.3B-1.8%	-$2.3B-1.2%	-$2.3B-1.2%	-$2.2B

SSYS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$15.1M+93.5%	$7.8M+112.7%	-$61.6M+18.2%	-$75.4M-310.5%	$35.8M+28.9%	$27.8M
Capital Expenditures	$22.1M+103.4%	$10.9M-19.8%	$13.6M-0.6%	$13.6M-45.4%	$25.0M-7.3%	$26.9M
Free Cash Flow	-$7.0M-128.6%	-$3.0M+95.9%	-$75.2M+15.5%	-$89.0M-921.2%	$10.8M+1162.3%	$859K
Investing Cash Flow	-$112.2M-657.3%	-$14.8M-286.5%	-$3.8M+46.8%	-$7.2M+97.5%	-$291.2M-453.3%	-$52.6M
Financing Cash Flow	$118.0M+3659.8%	-$3.3M-118.6%	-$1.5M+45.3%	-$2.8M-101.2%	$227.3M+99597.8%	$228K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$4.8M-30.4%	$6.9M+721.7%	-$1.1M-124.5%	$4.5M-38.5%	$7.4M+265.5%	-$4.5M-83.0%	-$2.4M-133.2%	$7.3M
Capital Expenditures	$6.6M+48.9%	$4.5M-38.9%	$7.3M+94.1%	$3.8M-10.8%	$4.2M+126.0%	$1.9M-24.9%	$2.5M+6.4%	$2.3M
Free Cash Flow	-$1.8M-174.1%	$2.5M+129.3%	-$8.4M-1163.9%	$789K-75.2%	$3.2M+150.3%	-$6.3M-28.6%	-$4.9M-198.1%	$5.0M
Investing Cash Flow	$18.2M+380.5%	-$6.5M+94.6%	-$119.9M-2831.9%	-$4.1M-273.6%	$2.4M+205.4%	-$2.2M+86.7%	-$16.8M-986.4%	$1.9M
Financing Cash Flow	-$311K-31000.0%	-$1K-100.0%	$118.1M+58942.0%	$200K+109.1%	-$2.2M-429.6%	-$415K+53.1%	-$885K-581.0%	$184K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SSYS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	41.2%-3.6pp	44.9%+2.3pp	42.5%+0.1pp	42.4%-0.4pp	42.8%+0.7pp	42.1%
Operating Margin	-13.2%+1.8pp	-15.0%-1.0pp	-14.0%-5.2pp	-8.8%+4.3pp	-13.0%+74.5pp	-87.5%
Net Margin	-18.9%+2.1pp	-21.0%-1.4pp	-19.6%-15.2pp	-4.5%+5.8pp	-10.2%+75.0pp	-85.2%
Return on Equity	-12.4%+2.8pp	-15.2%-1.3pp	-13.9%-10.9pp	-3.0%+3.5pp	-6.5%+52.0pp	-58.4%
Return on Assets	-9.7%+2.0pp	-11.7%-0.8pp	-10.8%-8.5pp	-2.3%+2.6pp	-4.9%+40.0pp	-44.8%
Current Ratio	3.57+0.5	3.07-0.1	3.17-0.1	3.32-0.5	3.80-0.4	4.24
Debt-to-Equity	0.27-0.0	0.30+0.0	0.28-0.0	0.31-0.0	0.34+0.0	0.30
FCF Margin	-1.3%-0.7pp	-0.5%+11.5pp	-12.0%+1.7pp	-13.7%-15.5pp	1.8%+1.6pp	0.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	36.8%-4.2pp	40.9%-2.1pp	43.1%-1.2pp	44.3%-2.1pp	46.4%+1.6pp	44.8%+1.0pp	43.8%-0.5pp	44.4%
Operating Margin	-14.8%+1.8pp	-16.6%-4.5pp	-12.0%-2.9pp	-9.1%-2.7pp	-6.5%+11.7pp	-18.2%+0.7pp	-18.9%-1.9pp	-17.0%
Net Margin	-13.5%+27.2pp	-40.6%-28.5pp	-12.1%-2.5pp	-9.6%+18.3pp	-27.9%-8.9pp	-19.0%-0.4pp	-18.6%-0.6pp	-18.0%
Return on Equity	-2.2%+4.3pp	-6.5%-4.7pp	-1.9%-0.2pp	-1.7%+3.6pp	-5.3%-2.1pp	-3.2%-0.2pp	-3.0%-0.0pp	-3.0%
Return on Assets	-1.8%+3.4pp	-5.1%-3.7pp	-1.5%-0.2pp	-1.3%+2.8pp	-4.1%-1.6pp	-2.5%-0.1pp	-2.4%-0.0pp	-2.4%
Current Ratio	3.57-0.1	3.65-0.0	3.70+0.7	3.02-0.0	3.070.0	3.07-0.1	3.18-0.0	3.22
Debt-to-Equity	0.270.0	0.28+0.0	0.26-0.0	0.300.0	0.300.0	0.30+0.0	0.270.0	0.27
FCF Margin	-1.3%-3.1pp	1.8%+7.9pp	-6.1%-6.7pp	0.6%-1.5pp	2.1%+6.6pp	-4.5%-1.0pp	-3.6%-7.0pp	3.5%

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Frequently Asked Questions

What is Stratasys Ltd's annual revenue?

Stratasys Ltd (SSYS) reported $551.1M in total revenue for fiscal year 2025. This represents a -3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Stratasys Ltd's revenue growing?

Stratasys Ltd (SSYS) revenue declined by 3.7% year-over-year, from $572.5M to $551.1M in fiscal year 2025.

Is Stratasys Ltd profitable?

No, Stratasys Ltd (SSYS) reported a net income of -$104.3M in fiscal year 2025, with a net profit margin of -18.9%.

What is Stratasys Ltd's EBITDA?

Stratasys Ltd (SSYS) had EBITDA of -$29.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Stratasys Ltd's gross margin?

Stratasys Ltd (SSYS) had a gross margin of 41.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Stratasys Ltd's operating margin?

Stratasys Ltd (SSYS) had an operating margin of -13.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Stratasys Ltd's net profit margin?

Stratasys Ltd (SSYS) had a net profit margin of -18.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Stratasys Ltd's return on equity (ROE)?

Stratasys Ltd (SSYS) has a return on equity of -12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Stratasys Ltd's free cash flow?

Stratasys Ltd (SSYS) generated -$7.0M in free cash flow during fiscal year 2025. This represents a -128.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Stratasys Ltd's operating cash flow?

Stratasys Ltd (SSYS) generated $15.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Stratasys Ltd's total assets?

Stratasys Ltd (SSYS) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Stratasys Ltd's capital expenditures?

Stratasys Ltd (SSYS) invested $22.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Stratasys Ltd spend on research and development?

Stratasys Ltd (SSYS) invested $77.3M in research and development during fiscal year 2025.

How many shares does Stratasys Ltd have outstanding?

Stratasys Ltd (SSYS) had 86M shares outstanding as of fiscal year 2025.

What is Stratasys Ltd's current ratio?

Stratasys Ltd (SSYS) had a current ratio of 3.57 as of fiscal year 2025, which is generally considered healthy.

What is Stratasys Ltd's debt-to-equity ratio?

Stratasys Ltd (SSYS) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Stratasys Ltd's return on assets (ROA)?

Stratasys Ltd (SSYS) had a return on assets of -9.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Stratasys Ltd's Piotroski F-Score?

Stratasys Ltd (SSYS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Stratasys Ltd's earnings high quality?

Stratasys Ltd (SSYS) has an earnings quality ratio of -0.15x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Stratasys Ltd?

Stratasys Ltd (SSYS) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.