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Zimmer Biomet Holdings, Inc.

ZBH Healthcare Medical Devices

Zimmer Biomet Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.2 billion, up 7.20% from fiscal 2024. In the quarter to June 2026, revenue grew 4.80%, EPS grew 33.8%, free cash flow grew 13.1% and total debt fell 1.23%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.

95.06 0.68 +0.72%
Market cap
$18.0B
P/E
23.0×
Fwd P/E
17.7×
Dividend yield
1.01%
F-score
6/9
Altman Z
2.38
Beneish M
−2.59
Dividend safety
72/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 1.58
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 1 1 — 1 — — — 2 —
Insider Ownership 0.94%

Capital & Financial Ratios $m

Market Cap 18,000.00
Revenue 8,508.80
Net Income 807.00
Free Cash Flow 1,036.50
Net Debt 7,069.00
Current Ratio 1.69 (at or above 1.5: strong)
Debt/Equity 0.59
P/E ratio 23.02
Fwd P/E 17.70
P/S ratio 2.15
P/B ratio 1.45
Past 5Y EPS Growth —
This Y EPS Growth 4.05%
Next Y EPS Growth 6.08%
Next Y revenue growth 4.43%
Next 5Y EPS Growth 5.79%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 4.3×; over the ten years it ranged from 2.7× in 2026 to 7.2× in 2021.
P/E against its own 10 years 24.61%
10-year low 10-year high
P/S against its own 10 years 4.57%
10-year low 10-year high
P/B against its own 10 years 6.56%
10-year low 10-year high
EV/Sales against its own 10 years 4.35%
10-year low 10-year high
EV/FCF against its own 10 years 12.61%
10-year low 10-year high

Dividends

Payout Ratio 0.23
Annual Dividend Rate 0.96
Annual Dividend Yield 1.01%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.99
0.24
0.24
0.24
2025 0.96
0.24
0.24
0.24
0.24
2024 0.96
0.24
0.24
0.24
0.24
2023 0.96
0.24
0.24
0.24
0.24
2022 0.96
0.24
0.24
0.24
0.24
2021 0.93
0.23
0.23
0.23
0.23
2020 0.93
0.23
0.23
0.23
0.23
2019 0.93
0.23
0.23
0.23
0.23
2018 0.93
0.23
0.23
0.23
0.23
2017 0.93
0.23
0.23
0.23
0.23
2016 0.93
0.23
0.23
0.23
0.23
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 416 526 592 410
Receivables 1,442 1,481 1,704 1,770
Inventory 2,385 2,235 2,286 2,270
Other — — — —
4,610 4,672 5,120 5,097
2023 2024 2025 Q'26
Payables 411 195 303 352
ST’ Debt 900 863 587 1,202
Other 1,547 1,393 1,694 1,125
2,857 2,451 2,584 3,014

Compound Annual Growth %

10y 5y 3y
Sales 3.22% 6.08% 5.85%
Cash Flow 7.16% 9.55% 7.76%
Earnings 16.98% 0.00% 44.98%
Book Value 2.54% 0.82% 1.85%

Revenue $m

Mar Jun Sep Dec Year
’26 2,087 2,177 — — —
’25 1,909 2,077 2,001 2,244 8,232
’24 1,889 1,942 1,824 2,023 7,679
’23 1,831 1,870 1,754 1,940 7,394
’22 1,663 1,782 1,670 1,825 6,940
’21 1,601 1,763 1,685 1,777 6,827
’20 1,784 1,226 1,929 1,188 6,128
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 359 448 — — —
’25 383 378 419 517 1,697
’24 228 369 396 506 1,499
’23 308 348 338 588 1,582
’22 316 346 451 244 1,356
’21 224 419 424 338 1,404
’20 451 (53) 381 296 1,076
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 207 246 — — —
’25 276 218 268 316 1,120
’24 48 198 288 250 902
’23 164 113 157 442 875
’22 223 240 332 85 880
’21 126 333 311 209 979
’20 325 (145) 287 238 704
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.22 1.03 — — —
’25 0.91 0.77 1.16 0.70 3.55
’24 0.84 1.18 1.23 1.20 4.43
’23 1.11 1.00 0.77 2.01 4.88
’22 0.07 0.73 0.92 (0.62) 1.10
’21 0.94 0.67 0.69 (0.40) 1.91
’20 (2.46) (1.00) 1.16 1.59 (0.67)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 85.70 99.60 94.17 95.73 72.20 113.20 100.39 102.00 101.47 85.33

Analyst estimates 2026–2028

Powerpack
High 129.33 129.60 130.63 147.25 160.34 175.11 135.05 149.25 133.90 114.44
People
People Employees 18,500 18,200 19,000 19,900 20,000 19,500 18,000 18,000 17,000 17,000
Revenue/emp, $m 0.41 0.43 0.42 0.40 0.31 0.35 0.39 0.41 0.45 0.48
Income, $m
Income, $m Revenue 7,668 7,803 7,933 7,982 6,128 6,827 6,940 7,394 7,679 8,232
Gross margin, % 68.94 72.67 71.36 71.78 70.23 71.29 70.90 71.82 71.46 69.71
EBT 400 465 (271) 906 (105) 499 404 1,067 1,037 831
EBT margin, % 5.21 5.95 (3.42) 11.35 (1.72) 7.31 5.81 14.43 13.50 10.09
Net income 305 1,813 (379) 1,132 (9) 446 291 1,025 905 705
Depreciation 1,070 1,394 2,020 1,076 1,401 954 1,219 952 996 1,094
Per share, $
Per share, $ Revenue 38.34 38.65 38.98 38.92 29.60 32.73 33.11 35.43 37.81 41.57
Earnings 1.51 9.11 (1.86) 5.52 (0.67) 1.93 1.10 4.91 4.45 3.56
Cash flow 8.16 7.84 8.59 7.73 5.20 6.73 6.47 7.58 7.38 8.57
Capex (2.65) (2.44) (2.16) (3.51) (1.79) (2.04) (2.27) (3.38) (2.94) (2.92)
Free cash flow 5.51 5.40 6.43 4.22 3.40 4.69 4.20 4.19 4.44 5.66
Book value 48.35 58.13 55.41 60.42 58.93 60.72 57.38 59.84 61.43 64.17
Shares, m 200 202 204 205 207 209 210 209 203 198
Valuation, ×
Valuation, × P/E 67.33 13.24 0.00 26.37 0.00 63.91 115.71 24.72 23.74 25.19
P/S 2.62 3.12 2.58 3.73 5.05 3.77 3.84 3.43 2.79 2.16
P/B 2.07 2.07 1.82 2.41 2.54 2.03 2.22 2.03 1.72 1.40
EV/Sales 4.00 4.35 3.64 4.69 6.25 4.75 4.61 4.15 3.53 3.00
EV/FCF 27.83 31.15 22.08 46.13 75.57 33.14 36.70 35.05 34.67 22.96
Cash, $m
Cash, $m Operating cash flow 1,632 1,582 1,747 1,586 1,076 1,404 1,356 1,582 1,499 1,697
Capex (530) (493) (439) (721) (371) (426) (476) (706) (597) (577)
Free cash flow 1,102 1,089 1,308 865 704 979 880 875 902 1,120
Balance, $m
Balance, $m Working capital 2,282 1,495 2,006 1,282 2,526 1,417 2,069 1,752 2,221 2,536
Total debt 11,241 10,143 8,939 8,221 8,127 7,069 5,697 5,768 6,205 7,519
Net debt 10,607 9,618 8,396 7,604 7,324 6,691 5,321 5,352 5,679 6,927
Shareholders’ equity 9,670 11,736 11,276 12,393 12,199 12,666 12,027 12,488 12,476 12,706
Returns, %
Returns, % ROA 1.14 6.88 (1.51) 4.64 (0.57) 1.68 1.04 4.81 4.22 3.17
ROIC 2.53 2.34 0.11 3.56 0.27 2.78 2.51 4.48 4.43 3.50
ROE 3.13 16.95 (3.30) 9.56 (1.13) 3.23 1.87 8.35 7.24 5.60
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Zimmer Biomet Holdings, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DXCM DexCom, Inc. $33.1B 33.2× 29.8× +13.08% (above 0%: growing) +41.30% (above 0%: growing) −11.68% (below 0%: shrinking) 63.44% 24.33% Compare
GEHC GE HealthCare Technologies Inc. $31.8B 16.0× 14.4× +5.75% (above 0%: growing) +16.98% (above 0%: growing) +750.00% (above 0%: growing) 41.17% 13.96% Compare
PHG Koninklijke Philips N.V. $24.9B 18.8× 11.2× +2.94% (above 0%: growing) +56.67% (above 0%: growing) +49.74% (above 0%: growing) 49.31% 13.99% Compare
STE STERIS plc $21.9B 27.1× 23.6× +7.30% (above 0%: growing) +13.89% (above 0%: growing) −14.36% (below 0%: shrinking) 45.84% 19.15% Compare
ZBH Zimmer Biomet Holdings, Inc. $18.0B 23.0× 17.7× +4.80% (above 0%: growing) +33.77% (above 0%: growing) +13.05% (above 0%: growing) 70.81% 14.98%
PEN Penumbra, Inc. $12.7B 78.4× 63.5× +14.90% (above 0%: growing) −24.79% (below 0%: shrinking) +10.81% (above 0%: growing) 67.93% 10.52% Compare
SNN Smith & Nephew SNATS, Inc. $12.2B 35.4× 18.6× +7.99% (above 0%: growing) −14.23% (below 0%: shrinking) +293.94% (above 0%: growing) 69.42% 0.00% Compare
GMED Globus Medical, Inc. $10.6B 19.3× 20.3× +5.94% (above 0%: growing) −25.33% (below 0%: shrinking) +571.30% (above 0%: growing) 69.42% 23.10% Compare
BIO.B Bio-Rad Laboratories, Inc. $10.3B 43.7× — −0.09% (below 0%: shrinking) +19.02% (above 0%: growing) −6.06% (below 0%: shrinking) 53.12% 11.15% Compare
Median of peers $17.3B 30.2× 20.3× +6.62% +15.44% +30.28% 58.28% 13.97%

All 149 Medical Devices stocks →

ZBH metrics, ten years each

Zimmer Biomet Holdings, Inc. (ZBH) key facts

  • Strength: Zimmer Biomet Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.2 billion, up 7.20% from fiscal 2024.
  • Zimmer Biomet Holdings, Inc. (ZBH) is a Medical Devices company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, ZBH traded at $95.06, a market capitalization of $18.0 billion.
  • Zimmer Biomet Holdings, Inc. pays an annual dividend of $0.96 per share, a yield of 1.01%, with a payout ratio of 23.4%.
  • Return on equity was 5.60% and debt-to-equity 0.59.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.38 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Zimmer Biomet Holdings, Inc. (ZBH) Latest News

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stockrow.com/ZBH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com