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ZBH

Zimmer Biomet Holdings, Inc.

ZBH

Zimmer Biomet Holdings, Inc. • NYSE
$97.52 ▼ -0.03% (-0.03)
Market Cap $19.33 B
52w High $114.44
52w Low $85.33
Dividend Yield 0.96%
P/E 24.2
Volume 888.50K
Outstanding Shares 198.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.001B ▼ $1.091B ▼ $230.9M ▲ 11.537% ▲ $1.17 ▲ $638.2M ▲
Q2-2025 $2.077B ▲ $1.185B ▲ $152.8M ▼ 7.356% ▼ $0.77 ▼ $575.7M ▲
Q1-2025 $1.909B ▼ $1.067B ▲ $182M ▼ 9.533% ▼ $0.92 ▼ $549.6M ▼
Q4-2024 $2.023B ▲ $1.048B ▲ $239.5M ▼ 11.838% ▼ $1.2 ▼ $614.5M ▲
Q3-2024 $1.824B $1.006B $249.1M 13.655% $1.23 $535.5M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.293B ▲ $23.488B ▲ $10.722B ▲ $12.757B ▲
Q2-2025 $556.9M ▼ $22.865B ▲ $10.331B ▲ $12.525B ▲
Q1-2025 $1.385B ▲ $22.184B ▲ $9.78B ▲ $12.395B ▼
Q4-2024 $525.5M ▼ $21.365B ▼ $8.889B ▼ $12.468B ▲
Q3-2024 $569M $21.72B $9.337B $12.375B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $231.2M ▲ $418.7M ▲ $-163.3M ▲ $483.8M ▲ $735.8M ▲ $545.8M ▲
Q2-2025 $153.4M ▼ $378.2M ▼ $-1.384B ▼ $163.8M ▼ $-827.6M ▼ $298.1M ▼
Q1-2025 $182.6M ▼ $382.8M ▼ $-106M ▲ $575.4M ▲ $859M ▲ $335.8M ▼
Q4-2024 $240.1M ▼ $506.3M ▲ $-291.2M ▼ $-240.6M ▼ $-43.5M ▼ $421.4M ▲
Q3-2024 $249.2M $395.7M $-154.9M $-101.9M $148.9M $368.6M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Hips
Hips
 $520.00M ▲$500.00M ▼$540.00M ▲$510.00M ▼
Knees
Knees
 $840.00M ▲$790.00M ▼$830.00M ▲$790.00M ▼
S E T
S E T
 $490.00M ▲$470.00M ▼$550.00M ▲$540.00M ▼
Other Product Category
Other Product Category
 $170.00M ▲$150.00M ▼$160.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Zimmer Biomet’s income statement shows a steady, healthy climb in sales over the past several years, with revenue growing each year and outpacing the pandemic dip. Profitability has improved meaningfully as well, with operating profit and cash-style earnings rising faster than sales, which suggests better cost control and a more efficient product mix. Net income has been a bit bumpier, moving from a loss a few years ago to solid profits more recently, with one year of notably weaker results in between, likely tied to restructuring, one‑time charges, or mix changes. Overall, the trend is toward a more profitable, stable earnings profile, but with some sensitivity to execution and special items.

Balance Sheet

Balance Sheet The balance sheet looks conservative and gradually de‑risked. Total assets have been broadly stable, while debt has been worked down over time, easing financial leverage and interest burden. Equity has held steady to slightly higher, indicating that the company is retaining value rather than eroding its capital base. Cash on hand is modest rather than abundant, so the company is not sitting on a large cash pile, but its overall financial position appears balanced: not overextended, but also not underutilizing its balance sheet. This provides reasonable flexibility while limiting balance‑sheet risk.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has consistently covered investment needs and has grown over the period, even through more challenging years. Free cash flow has stayed solidly positive, giving the company room to invest in new technologies, manage its debt, and return capital to shareholders if it chooses. Capital spending has been ticking up, but remains comfortably below the cash the business generates, signaling disciplined investment rather than aggressive, high‑risk expansion. The cash flow profile supports the company’s ability to fund its innovation agenda from internal resources.

Competitive Edge

Competitive Edge Zimmer Biomet occupies a leading position in orthopedic and musculoskeletal devices, supported by a long history with surgeons, a trusted brand, and a very broad product lineup. Its relationships with hospitals and surgeons tend to be sticky, because switching implant systems requires retraining, changes in workflow, and clinical comfort, which creates natural barriers for rivals. A large global sales and distribution footprint further strengthens its scale advantage. That said, the company operates in a highly competitive, innovation‑driven field with strong global peers, constant pricing pressure from hospital systems, and ongoing regulatory scrutiny, all of which can weigh on margins and require continuous product differentiation.

Innovation and R&D

Innovation and R&D Innovation is a central part of Zimmer Biomet’s strategy. The company is pushing hard into robotics, digital tools, and smart implants through its ZBEdge ecosystem, ROSA robotic platforms, mymobility patient‑engagement app, and the Persona IQ smart knee. These offerings aim to turn joint replacement into a data‑rich, personalized process that can improve outcomes and strengthen surgeon loyalty. Acquisitions in AI‑guided surgery and autonomous robotics, plus work on infection‑reducing implant coatings and outpatient surgery center solutions, expand that innovation arc. The opportunity is significant, but success will depend on regulatory approvals, surgeon adoption, demonstrated clinical and economic benefits, and the company’s ability to integrate and scale these technologies without disrupting its core business.

Summary

Zimmer Biomet today looks like a mature med‑tech leader with improving economics and an increasingly tech‑driven story. Revenue and operating profitability have trended upward, balance‑sheet leverage has eased, and cash generation is robust enough to fund ongoing R&D and strategic moves. At the same time, the company is leaning into robotics, digital health, and smart implants to defend and extend its orthopedic franchise. Key uncertainties center on competition, pricing pressure, regulatory risk, and whether its advanced technologies gain broad, profitable adoption. Overall, the profile is one of a financially solid orthopedic specialist using its cash flow and scale to pursue a more data‑driven, innovation‑heavy future.

NEWS

November 24, 2025 · 12:37 PM UTC

Zimmer Biomet Holdings (ZBH) Faces Investor Scrutiny Amid Emerging Markets Distributor Orders Cancelation, Reduced Top-Line Revenue Forecast -- Hagens Berman

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November 20, 2025 · 4:29 PM UTC

Bragar Eagel & Squire, P.C. Is Investigating Gauzy and Zimmer Biomet and Encourages Investors to Contact the Firm

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November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Zimmer Biomet Holdings, Inc. - ZBH

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November 19, 2025 · 3:34 PM UTC

Securities Fraud Investigation Into Zimmer Biomet Holdings, Inc. (ZBH) Continues – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

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November 19, 2025 · 2:59 PM UTC

Zimmer Biomet Holdings (ZBH) Faces Investor Scrutiny Amid Emerging Markets Distributor Orders Cancelation, Reduced Top-Line Revenue Forecast -- Hagens Berman

Read more