After two thrilling rounds of the 2025 Stanley Cup Playoffs, the quest for the most storied trophy in sports is down to four of the most formidable, battle-tested, relentlessly-successful clubs in the League. The Stars, Oilers, Hurricanes and Panthers all are appearing in the Conference Finals for at least the second time in the past three postseasons – Dallas and defending champion Florida are participating for the third straight year. And all four had to eliminate their respective regular-season division champs to get here.

* All four Second Round series ended in dramatic fashion: two in overtime, one with less than two minutes left in the third period and one in the third Game 7 of the Stanley Cup Playoffs.

* The 2025 Stanley Cup Playoffs are the third in NHL history to feature three of the final four teams from the Sunbelt. All have taken place in the past six postseasons (also 2023 & 2020).
Familiar foes in the Conference Finals

The Stars, Oilers, Panthers and Hurricanes are the final four teams in contention for the Stanley Cup – a position Dallas, Edmonton and Florida each occupied during the 2024 postseason. At least three teams have made consecutive appearances in the Conference Finals/Semifinals for the third time in the past 45 years, following 2020 and 2021 (NYI, TBL & VGK) as well as 1991 and 1992 (BOS, PIT & EDM).
* The Stars and Oilers are the two highest-ranked teams remaining in the postseason, meaning that the winner of their second straight Western Conference Final matchup will host Game 1 of the 2025 Stanley Cup Final.

* Florida won the Stanley Cup for the first time in franchise history last year and is the only remaining club with a championship in the past 18 seasons (2007 to 2024) – Carolina last won in 2006, while neither Edmonton (1990) nor Dallas (1999) have hoisted the Cup since the 1990s.

The Panthers and Oilers, who required the 18th Game 7 in Stanley Cup Final history last postseason, are four wins away from once again meeting in the NHL’s championship series. The NHL has featured both finalists return to the final four the following playoff year for the eighth time in the League’s expansion era. The others: Red Wings and Penguins (2008 & 2009), Oilers and Bruins (1990 & 1991), Islanders and Oilers (1983 & 1984), Canadiens and Bruins (1977 & 1978; 1978 & 1979), Canadiens and Flyers (1976 & 1977) as well as the Canadiens and Blues (1968 & 1969).

* Four of the previous seven instances produced a Stanley Cup Final rematch, but only two watched the previous finalist exact revenge and dethrone the reigning champion after Sidney Crosby captured his first championship as the Penguins defeated the Red Wings in 2009, while Wayne Gretzky also captured his first Stanley Cup in their second straight meeting against the Islanders in 1984.

* The Stars and Panthers, amid strings of postseason success, are making a third straight Conference Finals appearance. Two teams own simultaneous streaks of three or more Conference Finals appearances for just the second time under the 16-team format (also EDM & BOS from 1990-92). Of note, all but one of the 11 teams to accomplish the feat since 1980 won at least one Stanley Cup during that span.

* Five Canadian teams qualified for the Stanley Cup Playoffs, but only one remains in the Conference Finals as the Oilers own the opportunity to host the country’s first Cup since the 1993 Canadiens. Meanwhile, south of the 49th parallel, three of the remaining teams have played in their current location for less than 35 years: the Stars (from Minnesota) and Hurricanes (from Hartford) relocated to Dallas and Carolina in 1993-94 and 1997-98, respectively; the Panthers joined the NHL in 1993-94. In fact, the 2025 Eastern Conference Final marks the sixth time two teams in the Sunbelt have met in the round before the Final (also FLA-CAR in 2023, LAK-PHX in 2012, ANA-NSH in 2017 & DAL-VGK in 2020 and 2023).

A look back through two rounds

Three of the series clinching goals in the Second Round came in the final two minutes (CAR) or overtime (EDM & DAL). Overall, there have been four series-clinching goals scored in overtime during the Stanley Cup Playoffs, including two in the Second Round as Thomas Harley propelled the Stars past the Presidents’ Trophy-winning Jets in Game 6 and Kasperi Kapanen lifted the Oilers past the Golden Knights in Game 5.

Overall, eight of 12 series-clinching goals this postseason were scored in overtime or within the final 10 minutes of regulation, tied for the second most in any playoff year behind 2020 (9). Three of the previous instances have come in the past five years (2025, 2023 & 2022).

* Each round has seen a game with either a tying/go-ahead goal in the final five seconds of regulation (Game 7 of STL-WPG in R1 & Game 3 of VGK-EDM in R2). The only other postseason in Stanley Cup Playoffs history to feature multiple such instances at any point was 2015 (2).

* This is the eighth postseason in the NHL’s expansion era (since 1967-68) – and third time in the past six postseasons – without a best-of-seven sweep through the second round. The only postseasons without a best-of-seven sweep through three rounds were 2020 (4), 2016 (4), 2002 (4), 1991 (4) and 1973 (all 3 rounds).

What’s trending?
The Stars (6-1), Hurricanes (5-0), Oilers (4-1) and Panthers (3-2) continued to benefit from success on home ice throughout the Second Round, with Carolina entering the Conference Finals undefeated at Lenovo Center through its first five games. Overall, the NHL’s 45 home wins through this stage of a postseason (70 GP) are the third most in Stanley Cup Playoffs history behind 2013 (49) and 1990 (48).

* Edmonton’s journey to the Conference Finals included a stretch of six consecutive comeback wins – the longest in Stanley Cup Playoffs history – that ended following Game 2. The Oilers have accounted for six of the NHL’s 29 comeback wins this postseason (29 of 70 GP; 41%); only three other postseasons since 2014 have featured an equal percentage of comeback wins through this stage of a postseason (49% in 2024, 46% in 2016 & 43% in 2021).

The Stars needed overtime to eliminate the Jets in the Second Round and improved to 3-0 in that scenario this postseason. The 2025 Stanley Cup Playoffs have featured 17 overtime games, one more than the entirety of the 2024 postseason (16); it is the second time in three years the NHL has featured as many overtime contests through the first two rounds (also 18 in 2023).

* Mikko Rantanen collected 3-1—4 in his final eight shifts of the First Round, and carried his hot streak into the Second Round by becoming the first player in 40 years – and third in NHL history – to record consecutive playoff hat tricks. He also tallied 17 points in a span of six games (a franchise first), 19 points through two rounds (tied for the franchise record) and factored on 13 straight Stars goals (an NHL record).

* The Panthers overcame a 2-0 series deficit to advance for the first time in franchise history and were the second team to accomplish the feat in the 2025 Stanley Cup Playoffs (EDM in R1). Florida became the ninth reigning Stanley Cup champion to rally from a 2-0 series deficit to advance during the ensuing postseason; Tampa Bay (2022 CF), Montreal (1987 DF & 1966 SCF) and NY Islanders (1984 CF) are the only other ones to do so in the second round or later.