ZBH · Zimmer Biomet Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $8.23B | $7.68B | $7.39B | $6.94B | $7.84B | $7.02B |
| Cost of Revenue | $2.49B | $2.19B | $2.08B | $2.02B | $2.34B | $2.13B |
| Gross Profit | $5.74B | $5.49B | $5.31B | $4.92B | $5.50B | $4.90B |
| R&D | $458.50M | $437.40M | $458.70M | $406.00M | $497.20M | $372.00M |
| SG&A | $3.26B | $2.93B | $2.84B | $2.76B | $3.32B | $3.18B |
| Total Operating Expenses | $7.13B | $6.39B | $6.12B | $6.24B | $7.06B | $7.11B |
| D&A | $1.09B | $996.30M | $951.70M | $926.40M | $1.07B | $1.03B |
| Operating Income | $1.10B | $1.29B | $1.28B | $696.30M | $780.10M | ($87.80M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $125.70M | $131.40M | $42.20M | $112.30M | $16.30M | ($137.00M) |
| Net Income | $705.10M | $903.80M | $1.02B | $231.40M | $401.60M | ($138.90M) |
| EPS - Basic | $3.56 | $4.45 | $4.91 | $1.10 | $1.87 | ($0.65) |
| EPS - Diluted | $3.55 | $4.43 | $4.88 | $1.10 | $1.85 | ($0.65) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $591.90M | $525.50M | $415.80M | $375.70M | $478.50M | $802.10M |
| Accounts Receivable | $1.70B | $1.48B | $1.44B | $1.38B | $1.40B | $1.45B |
| Inventory | $2.29B | $2.24B | $2.39B | $2.15B | $2.39B | $2.45B |
| Accounts Payable | $303.00M | $194.60M | $410.60M | $354.10M | $351.20M | $330.00M |
| Current Assets | $5.12B | $4.67B | $4.61B | $4.43B | $4.88B | $5.08B |
| Total Assets | $23.09B | $21.37B | $21.50B | $21.07B | $23.46B | $24.42B |
| Current Liabilities | $2.58B | $2.45B | $2.86B | $2.36B | $3.47B | $2.56B |
| Long-term Debt | $6.93B | $5.34B | $4.87B | $5.15B | $5.46B | $7.63B |
| Total Liabilities | $10.39B | $8.89B | $9.01B | $9.04B | $10.79B | $12.22B |
| Stockholders' Equity | $12.70B | $12.47B | $12.48B | $12.02B | $12.66B | $12.19B |
| Retained Earnings | $11.61B | $11.10B | $10.38B | $9.56B | $10.29B | $10.09B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.50B | $1.50B | $1.58B | $1.36B | $1.50B | $1.20B |
| Investing Cash Flow | ($888.10M) | ($888.10M) | ($778.90M) | ($522.00M) | ($503.60M) | ($613.80M) |
| Financing Cash Flow | ($484.50M) | ($484.50M) | ($763.50M) | ($775.70M) | ($1.31B) | ($421.80M) |
| CapEx | $224.50M | $203.80M | $291.10M | $187.90M | $172.00M | $117.50M |
| Free Cash Flow | $1.27B | $1.30B | $1.29B | $1.17B | $1.33B | $1.09B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 69.7% | 71.5% | 71.8% | 70.9% | 70.1% | 69.7% |
| Operating margin | 13.3% | 16.7% | 17.3% | 10.0% | 10.0% | -1.2% |
| EBITDA margin | 26.6% | 29.7% | 30.2% | 23.4% | 23.6% | 13.5% |
| Net margin | 8.6% | 11.8% | 13.8% | 3.3% | 5.1% | -2.0% |
| Free cash flow margin | 15.5% | 16.9% | 17.5% | 16.8% | 16.9% | 15.5% |
| FCF / Net income | 1.81 | 1.43 | 1.26 | 5.05 | 3.30 | -7.83 |
| R&D / Revenue | 5.6% | 5.7% | 6.2% | 5.9% | 6.3% | 5.3% |
| SG&A / Revenue | 39.6% | 38.2% | 38.4% | 39.8% | 42.4% | 45.2% |
| Effective tax rate | 15.1% | 12.7% | 4.0% | 32.7% | 3.9% | - |
| Return on assets | 3.1% | 4.2% | 4.8% | 1.1% | 1.7% | -0.6% |
| Return on equity | 5.6% | 7.2% | 8.2% | 1.9% | 3.2% | -1.1% |
| Return on invested capital | 4.7% | 6.3% | 7.1% | 2.7% | 4.1% | -0.3% |
| Liquidity | ||||||
| Current ratio | 1.98 | 1.91 | 1.61 | 1.88 | 1.41 | 1.99 |
| Quick ratio | 1.10 | 0.99 | 0.78 | 0.97 | 0.72 | 1.03 |
| Cash ratio | 0.23 | 0.21 | 0.15 | 0.16 | 0.14 | 0.31 |
| Leverage | ||||||
| Debt / Equity | 0.55 | 0.43 | 0.39 | 0.43 | 0.43 | 0.63 |
| Debt / Assets | 0.30 | 0.25 | 0.23 | 0.24 | 0.23 | 0.31 |
| Debt / EBITDA | 3.16 | 2.34 | 2.18 | 3.18 | 2.96 | 8.07 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.82 | 1.71 | 1.72 | 1.75 | 1.85 | 2.00 |
| Liabilities / Assets | 0.45 | 0.42 | 0.42 | 0.43 | 0.46 | 0.50 |
| Efficiency | ||||||
| Asset turnover | 0.36 | 0.36 | 0.34 | 0.33 | 0.33 | 0.29 |
| Inventory turnover | 1.09 | 0.98 | 0.87 | 0.94 | 0.98 | 0.87 |
| Days sales outstanding | 76d | 70d | 71d | 73d | 65d | 75d |
| Days inventory outstanding | 335d | 372d | 418d | 388d | 373d | 420d |
| Days payable outstanding | 44d | 32d | 72d | 64d | 55d | 57d |
| Cash conversion cycle | 366d | 410d | 417d | 397d | 384d | 439d |
| Valuation | ||||||
| P / E | 25.3x | 23.8x | 24.9x | 115.9x | 66.5x | - |
| P / B | 1.4x | 1.7x | 2.0x | 2.2x | 2.0x | 2.5x |
| P / S | 2.2x | 2.8x | 3.5x | 3.9x | 3.3x | 4.4x |
| EV / EBITDA | 11.0x | 11.5x | 13.4x | 19.5x | 16.7x | 40.0x |
| Growth | ||||||
| Revenue growth (YoY) | 7.2% | 3.8% | 6.5% | -11.4% | 11.6% | -12.0% |
| Revenue CAGR (3y) | 5.9% | -0.7% | 1.7% | -4.6% | 0.7% | - |
| Revenue CAGR (5y) | 3.2% | -0.8% | -0.7% | - | - | - |
| Gross profit growth (YoY) | 4.6% | 3.3% | 7.9% | -10.5% | 12.2% | -14.5% |
| Operating income growth (YoY) | -14.6% | 0.6% | 83.5% | -10.7% | - | - |
| Net income growth (YoY) | -22.0% | -11.7% | 342.5% | -42.4% | - | - |
| EPS growth (YoY) | -19.9% | -9.2% | 343.6% | -40.7% | - | - |
| EPS CAGR (3y) | 47.8% | 33.7% | - | -41.4% | - | - |
| EPS CAGR (5y) | - | -4.1% | - | -34.2% | 4.2% | - |
| FCF growth (YoY) | -1.6% | 0.4% | 10.5% | -12.0% | 22.1% | -21.2% |
| FCF CAGR (5y) | 3.2% | -1.2% | -2.6% | -3.9% | -1.7% | 10.9% |
| Book value growth (YoY) | 1.8% | -0.1% | 3.8% | -5.1% | 3.8% | -1.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$8.23B totalKnees$3.32B · 40.4%
SET$2.15B · 26.1%
Hips$2.09B · 25.4%
Technology And Data Bone Cement And Surgical$665.60M · 8.1%
Geographic
$16.46B totalAmericas$5.14B · 31.2%
US$4.76B · 28.9%
Non Us$3.47B · 21.1%
EMEA$1.83B · 11.1%
Asia Pacific$1.26B · 7.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.52
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Orthopedic, Prosthetic & Surgical Appliances & Supplies
Comparing ZIMMER BIOMET HOLDINGS against the 5 most active filers in the same SIC group.
Dividends
$0.96/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.2400 |
| Dec 30, 2025 | $0.2400 |
| Sep 30, 2025 | $0.2400 |
| Jun 26, 2025 | $0.2400 |
| Mar 31, 2025 | $0.2400 |
| Dec 30, 2024 | $0.2400 |
| Sep 30, 2024 | $0.2400 |
| Jun 26, 2024 | $0.2400 |
| Mar 27, 2024 | $0.2400 |
| Dec 26, 2023 | $0.2400 |
| Sep 28, 2023 | $0.2400 |
| Jun 23, 2023 | $0.2400 |
| Mar 28, 2023 | $0.2400 |
| Dec 23, 2022 | $0.2400 |
| Sep 29, 2022 | $0.2400 |
| Jun 24, 2022 | $0.2400 |
| Mar 28, 2022 | $0.2400 |
| Dec 27, 2021 | $0.2330 |
| Sep 29, 2021 | $0.2330 |
| Jun 25, 2021 | $0.2330 |
| Mar 26, 2021 | $0.2330 |
| Dec 24, 2020 | $0.2330 |
| Sep 29, 2020 | $0.2330 |
| Jun 26, 2020 | $0.2330 |