ZIMMER BIOMET HOLDINGS, INC. ZBH
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We design, manufacture and market orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; craniomaxillofacial and thoracic ("CMFT") products; bone cement; surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives. In this report, "Zimmer Biomet," "we," "us," "our," "the Company" and similar words refer collectively to Zimmer Biomet Holdings, Inc. and its subsidiaries. "Zimmer Biomet Holdings" refers to the parent company only.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.23B | $7.68B | $7.39B | $6.94B | $6.83B | $6.13B | $6.96B | $7.93B | $7.80B | $7.67B |
| Cost of revenue | $2.49B | $2.19B | $2.08B | $2.02B | $1.96B | $1.82B | $1.94B | $2.27B | $2.13B | $2.38B |
| Gross profit | $5.74B | $5.49B | $5.31B | $4.92B | $4.87B | $4.30B | $5.02B | $5.66B | $5.67B | $5.29B |
| SG&A | $3.26B | $2.93B | $2.84B | $2.76B | $2.84B | $2.71B | $2.81B | $3.38B | $3.10B | $2.94B |
| Total operating expenses | $7.13B | $6.39B | $6.12B | $6.24B | $5.97B | $6.04B | $5.85B | $7.90B | $7.00B | $6.85B |
| Operating income | $1.10B | $1.29B | $1.28B | $696.3M | $860.3M | $83.1M | $1.11B | $33.8M | $799.3M | $821.1M |
| Interest expense | $292.8M | $218.0M | $201.2M | $164.8M | $208.4M | $212.1M | $227.0M | $289.3M | $325.3M | $355.0M |
| Pre-tax income | $830.8M | $1.04B | $1.07B | $403.5M | $499.0M | -$105.2M | $880.1M | -$271.1M | $464.6M | $399.6M |
| Income tax | $125.7M | $131.4M | $42.2M | $112.3M | $53.5M | $96.0M | $238.0M | $108.2M | $1.35B | $95.0M |
| Net income | $705.1M | $903.8M | $1.02B | $231.4M | $401.6M | -$138.9M | $1.13B | -$379.2M | $1.81B | $305.9M |
| EPS, basic | 3.56 | 4.45 | 4.91 | 1.10 | 1.93 | -0.67 | 5.52 | -1.86 | 8.98 | 1.53 |
| EPS, diluted | 3.55 | 4.43 | 4.88 | 1.10 | 1.91 | -0.67 | 5.47 | -1.86 | 8.90 | 1.51 |
| Shares, diluted (wtd. avg.) | $198.7M | $203.9M | $209.7M | $210.3M | $210.4M | $207.0M | $206.7M | $203.5M | $203.7M | $202.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $591.9M | $525.5M | $415.8M | $375.7M | $378.1M | $802.1M | $617.9M | $542.8M | $524.4M | $634.1M |
| Receivables | $1.70B | $1.48B | $1.44B | $1.38B | $1.26B | $1.45B | $1.36B | $1.28B | $1.54B | $1.60B |
| Inventory | $2.29B | $2.24B | $2.39B | $2.15B | $2.15B | $2.45B | $2.38B | $2.26B | $2.07B | $1.96B |
| Total current assets | $5.12B | $4.67B | $4.61B | $4.43B | $4.88B | $5.08B | $4.72B | $4.43B | $4.56B | $4.66B |
| Property, plant and equipment | $2.21B | $2.05B | $2.06B | $1.87B | $1.84B | $2.05B | $2.08B | $2.02B | $2.04B | $2.04B |
| Goodwill | $9.95B | $8.95B | $8.82B | $8.58B | $8.92B | $8.98B | $9.60B | $9.59B | $10.67B | $10.64B |
| Other intangibles | $4.72B | $4.60B | $4.86B | $5.06B | $5.53B | $7.06B | $7.26B | $7.68B | $8.35B | $8.79B |
| Total assets | $23.09B | $21.37B | $21.50B | $21.07B | $23.46B | $24.42B | $24.64B | $24.13B | $26.01B | $26.68B |
| Accounts payable | $303.0M | $194.6M | $410.6M | $354.1M | $306.5M | $330.0M | $400.9M | $362.6M | $330.2M | $364.5M |
| Short-term debt | $587.1M | $863.0M | $900.0M | $544.3M | $1.61B | $500.0M | $1.50B | $525.0M | $1.23B | $575.6M |
| Total current liabilities | $2.58B | $2.45B | $2.86B | $2.36B | $3.47B | $2.56B | $3.44B | $2.42B | $3.07B | $2.38B |
| Long-term debt | $6.93B | $5.34B | $4.87B | $5.15B | $1.00B | $7.63B | $6.72B | $8.41B | $8.92B | $10.67B |
| Total liabilities | $10.39B | $8.89B | $9.01B | $9.04B | $10.79B | $12.22B | $12.25B | $12.85B | $14.28B | $17.01B |
| Retained earnings | $11.61B | $11.10B | $10.38B | $9.56B | $10.29B | $10.09B | $10.43B | $9.49B | $10.02B | $8.47B |
| Total equity | $12.70B | $12.47B | $12.49B | $12.03B | $12.67B | $12.20B | $12.39B | $11.28B | $11.74B | $9.67B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.70B | $1.50B | $1.58B | $1.36B | $1.40B | $1.08B | $1.39B | $1.75B | $1.58B | $1.63B |
| Depreciation and amortisation | $1.09B | $996.3M | $951.7M | $926.4M | $937.7M | $898.4M | $871.0M | $1.04B | $1.06B | $1.04B |
| Stock-based compensation | $90.2M | $101.0M | $99.8M | $105.0M | $76.0M | $73.8M | $77.2M | $65.5M | $53.7M | $57.3M |
| Capital expenditure | $224.5M | $203.8M | $291.1M | $187.9M | $143.6M | $111.9M | $198.4M | $162.7M | $156.0M | $184.7M |
| Investing cash flow | -$1.98B | -$888.1M | -$778.9M | -$522.0M | -$443.3M | -$564.3M | -$644.7M | -$416.6M | -$510.8M | -$1.69B |
| Financing cash flow | $326.0M | -$484.5M | -$763.5M | -$775.7M | -$1.31B | -$420.2M | -$777.6M | -$1.30B | -$1.21B | -$743.2M |
| Dividends paid | $190.3M | $196.0M | $200.9M | $201.2M | $200.1M | $198.5M | $196.7M | $195.2M | $193.6M | $188.4M |
| Buybacks | $487.0M | $868.0M | $692.2M | $126.4M | — | — | — | — | — | $415.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-059853.
Others in SIC 3842
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|---|---|---|---|---|
| ISRG | INTUITIVE SURGICAL INC | $129.55B | 46.6x | 20.5% |
| EW | Edwards Lifesciences Corp | $51.82B | 49.1x | 11.5% |
| STE | STERIS plc | $21.90B | 28.3x | 8.7% |
| ALGN | ALIGN TECHNOLOGY INC | $11.27B | 28.1x | 0.9% |
| MSA | MSA Safety Inc | $7.28B | 26.6x | 3.7% |
| ESTA | ESTABLISHMENT LABS HOLDINGS INC. | $2.21B | — | 27.1% |
| CDRE | Cadre Holdings, Inc. | $1.27B | 29.2x | 7.5% |
| ENOV | Enovis CORP | $1.07B | — | 6.7% |