Financials · ZBH

Zimmer Biomet Holdings Inc. (ZBH) financials

For the twelve months ended Sep 30, 2026, Zimmer Biomet Holdings Inc. reported $8.57B of revenue and $767.30M of net income.

Revenue, TTM
$8.57B
Revenue growth, YoY
+7.0%
Net income, TTM
$767.30M
Net income growth, YoY
-4.7%
Net margin
9.0%
Free cash flow, TTM
$1.64B
EPS, diluted, TTM
$3.96
EPS growth, YoY
-1.5%
Cash
$399.90M
Total debt
$7.50B
P/E
26.04
P/S
2.33
Market cap
$19.98B
Annual revenue$8.23B
FY2016FY2025
Annual net income$705.10M
FY2016FY2025
Annual free cash flow$1.47B
FY2016FY2025

ZBH revenue and earnings growth

ZBH revenueQ3 2026$2.06B

Quarter YoY
+3.1%
QoQ
-5.2%
FY YoY
+7.2%
5Y CAGR
+6.1%

ZBH revenue was $2.06B in fiscal Q3 2026 (ended Sep 30, 2026), up 3.1% from a year earlier and down 5.2% from the prior quarter. For the full fiscal 2025 it was $8.23B, up 7.2% from fiscal 2024. Compound annual growth was +6.1% over 5 years. It rose in 8 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

ZBH net incomeQ3 2026$191.60M

Quarter YoY
-17.0%
QoQ
-3.4%
FY YoY
-22.0%
10Y CAGR
+17.0%

ZBH net income was $191.60M in fiscal Q3 2026 (ended Sep 30, 2026), down 17.0% from a year earlier and down 3.4% from the prior quarter. For the full fiscal 2025 it was $705.10M, down 22.0% from fiscal 2024. Compound annual growth was +17.0% over 10 years. It rose in 1 of the last 4 fiscal years.

ZBH EPSQ3 2026$1.00

Quarter YoY
-13.8%
QoQ
-2.9%
FY YoY
-19.9%
10Y CAGR
+16.5%

ZBH diluted EPS was $1.00 in fiscal Q3 2026 (ended Sep 30, 2026), down 13.8% from a year earlier and down 2.9% from the prior quarter. For the full fiscal 2025 it was $3.55, down 19.9% from fiscal 2024. Compound annual growth was +16.5% over 10 years.

ZBH free cash flowQ3 2026$484.20M

Quarter YoY
+33.1%
QoQ
+23.0%
FY YoY
+13.7%
5Y CAGR
+8.9%
10Y CAGR
+8.0%

ZBH free cash flow was $484.20M in fiscal Q3 2026 (ended Sep 30, 2026), up 33.1% from a year earlier and up 23.0% from the prior quarter. For the full fiscal 2025 it was $1.47B, up 13.7% from fiscal 2024. Compound annual growth was +8.9% over 5 years and +8.0% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$8.23B$7.68B$7.39B$6.94B$6.83B$6.13B$7.98B$7.93B$7.80B$7.67B
Cost of revenue$2.49B$2.19B$2.08B$2.02B$1.96B$1.82B$2.25B$2.27B$2.13B$2.38B
Gross profit$5.74B$5.49B$5.31B$4.92B$4.87B$4.30B$5.73B$5.66B$5.67B$5.29B
Research and development$458.50M$437.40M$458.70M$406.00M$435.80M$322.80M$449.30M$391.70M$369.90M$365.60M
Selling, general and admin$3.26B$2.93B$2.84B$2.76B$2.84B$2.71B$3.34B$3.38B$3.10B$2.94B
Operating income$1.10B$1.29B$1.28B$696.30M$860.30M$83.10M$1.14B$33.80M$799.30M$821.10M
Pre-tax income$830.80M$1.04B$1.07B$403.50M$499.00M-$105.20M$905.80M-$271.10M$464.60M$399.60M
Income tax$125.70M$131.40M$42.20M$112.30M$53.50M-$96.00M-$225.70M$108.20M-$1.35B$95.00M
Net income$705.10M$903.80M$1.02B$231.40M$401.60M-$138.90M$1.13B-$379.20M$1.81B$305.90M
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
Diluted shares198.7M203.9M209.7M210.3M210.4M207.0M206.7M203.5M203.7M202.4M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$591.90M$525.50M$415.80M$375.70M$378.10M$802.10M$617.90M$542.80M$524.40M$634.10M
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
Current assets$5.12B$4.67B$4.61B$4.43B$4.88B$5.08B$4.72B$4.43B$4.56B$4.66B
Goodwill$9.95B$8.95B$8.82B$8.58B$8.92B$8.98B$9.60B$9.59B$10.67B$10.64B
Total assets$23.09B$21.37B$21.50B$21.07B$23.46B$24.42B$24.64B$24.13B$26.01B$26.68B
Current liabilities$2.58B$2.45B$2.86B$2.36B$3.47B$2.56B$3.44B$2.42B$3.07B$2.38B
Short-term debt$587.10M$863.00M$900.00M$544.30M$1.61B$500.00M$1.50B$525.00M$1.23B$575.60M
Long-term debt$6.93B$5.34B$4.87B$5.15B$5.46B$7.63B$6.72B$8.41B$8.92B$10.67B
Total debt$7.52B$6.20B$5.77B$5.70B$7.07B$8.13B$8.22B$8.94B$10.14B$11.24B
Total liabilities$10.39B$8.89B$9.01B$9.04B$10.79B$12.22B$12.25B$12.85B$14.28B$17.01B
Shareholders' equity$12.70B$12.48B$12.49B$12.03B$12.67B$12.20B$12.39B$11.28B$11.74B$9.67B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$1.70B$1.50B$1.58B$1.36B$1.40B$1.08B$1.59B$1.75B$1.58B$1.63B
Capital expenditures$224.50M$203.80M$291.10M$187.90M$143.60M$111.90M$207.10M$162.70M$156.00M$184.70M
Free cash flow$1.47B$1.30B$1.29B$1.17B$1.26B$963.70M$1.38B$1.58B$1.43B$1.45B
Investing cash flow-$1.98B-$888.10M-$778.90M-$522.00M-$443.30M-$564.30M-$729.30M-$416.60M-$510.80M-$1.69B
Financing cash flow$326.00M-$484.50M-$763.50M-$775.70M-$1.31B-$420.20M-$779.90M-$1.30B-$1.21B-$743.20M
Dividends paid$190.30M$196.00M$200.90M$201.20M$200.10M$198.50M$196.70M$195.20M$193.60M$188.40M
Share repurchases$487.00M$868.00M$692.20M$126.40M-----$415.50M
Stock-based compensation$90.20M$101.00M$99.80M$105.00M$76.00M$73.80M$84.30M$65.50M$53.70M$57.30M
Depreciation and amortization$1.09B$996.30M$951.70M$926.40M$937.70M$898.40M$1.01B$1.04B$1.06B$1.04B

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY7.2%3.8%6.5%1.6%11.4%-23.2%0.6%1.7%1.8%-
Net income growth, YoY-22.0%-11.7%342.5%-42.4%----492.9%108.1%
EPS growth, YoY-19.9%-9.2%343.6%-42.4%----489.4%96.1%
Gross margin69.7%71.5%71.8%70.9%71.3%70.2%71.8%71.4%72.7%68.9%
Operating margin13.3%16.7%17.3%10.0%12.6%1.4%14.3%0.4%10.2%10.7%
Net margin8.6%11.8%13.8%3.3%5.9%-2.3%14.2%-4.8%23.2%4.0%
Free cash flow margin17.9%16.9%17.5%16.8%18.5%15.7%17.3%20.0%18.3%18.9%
Return on equity5.6%7.2%8.2%1.9%3.2%-1.1%9.1%-3.4%15.5%3.2%
Return on assets3.1%4.2%4.8%1.1%1.7%-0.6%4.6%-1.6%7.0%1.1%
Current ratio1.981.911.611.881.411.991.371.831.491.96
Debt to equity0.590.500.460.470.560.670.660.790.861.16

Source: XBRL data Zimmer Biomet Holdings Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ZBH peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ZBH$8.57B+7.0%$767.30M9.0%$19.98B
ISRG$11.58B+20.5%$2.96B25.5%$156.96B
EW$6.67B+13.4%$1.02B15.3%$58.73B
STE$6.17B+8.1%$826.90M13.4%$24.60B
MAS$7.67B+0.9%$926.00M12.1%$15.85B
SNN$6.16B+6.1%$625.00M10.1%$13.04B
ALGN$4.16B+4.4%$491.87M11.8%$11.70B
AIT$5.06B+8.5%$424.12M8.4%$10.35B
POOL$5.45B+2.9%$395.95M7.3%$7.56B

ZBH FAQ

9 questions
  • What is ZBH revenue?
    Zimmer Biomet Holdings Inc. (ZBH) reported $8.57B of revenue for the twelve months ended Sep 30, 2026. That is up 7.0% from the year before. Revenue for fiscal 2025 was $8.23B.
  • Is ZBH profitable?
    Yes. Zimmer Biomet Holdings Inc. earned $767.30M in net income for the twelve months ended Sep 30, 2026, a net margin of 9.0%.
  • How much cash and debt does ZBH have?
    Zimmer Biomet Holdings Inc. reported $399.90M in cash and cash equivalents and $7.50B of debt on its most recent balance sheet in SEC filings.
  • How fast is ZBH revenue growing?
    Zimmer Biomet Holdings Inc.'s revenue changed +7.2% in fiscal 2025, to $8.23B. Its compound annual growth rate was +6.1% over 5 years.
  • What is ZBH gross margin?
    Zimmer Biomet Holdings Inc.'s gross profit was $5.97B on $8.57B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 69.7%.
  • What is ZBH free cash flow?
    Zimmer Biomet Holdings Inc. generated $1.64B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.88B less capital expenditures.
  • What is ZBH earnings per share?
    Diluted earnings per share were $3.96 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ZBH last report financial results?
    The latest statements here come from Zimmer Biomet Holdings Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this ZBH financial data come from?
    Quantisnow builds these statements from the structured XBRL data Zimmer Biomet Holdings Inc. files with the SEC. It is provided for information only and is not investment advice.