ZBHNYSEOrthopedic, Prosthetic & Surgical Appliances & SuppliesFiscal year ends December 31
ZIMMER BIOMET HOLDINGS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$94.99+0.01 (+0.01%)
Close on Oct 19, 2026
- Market cap
- $18.31B
- P/E (TTM)
- 23.1
- Dividend yield
- 1.01%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
69.7%−0.5 pts over 5 years
Operating margin
13.3%+12.0 pts over 5 years
Net margin
8.6%+10.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.2% | +5.9% | +6.1% | +3.2% | |
| Gross profit | +4.6% | +5.3% | +5.9% | +3.2% | |
| Operating income | -14.6% | +16.4% | +67.6% | +8.9% | |
| Net income | -22.0% | +45.0% | – | +17.0% | |
| EPS, diluted | -19.9% | +47.8% | – | +16.5% | |
| Free cash flow | +13.7% | +8.0% | +8.9% | +8.0% | |
| Dividend per share | 0.0% | 0.0% | 0.0% | +0.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 3.1% | -1.1% | 5.6% | |
| Return on assets | 1.1% | -0.6% | 3.2% | |
| Current ratio | 1.96 | 1.99 | 1.98 | |
| Debt to equity | 1.16 | 0.67 | 0.59 | |
| Net debt to EBITDA | 5.70× | 7.46× | 3.16× | |
| Interest coverage | 2.3× | – | – | |
| Inventory turnover | 1.1× | 0.8× | 1.1× | |
| Capex to revenue | 2.4% | 1.8% | 2.7% | |
| Diluted shares | 202M | 207M | 199M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Zimmer Biomet generated $7.54B from operations and spent $4.21B on capital expenditure, dividends and share buybacks. 25% of that went back into the business.
Generated
$7.54B
Used
$4.21B
Capital expenditure$1.05B25%Dividends$988.50M23%Share buybacks$2.17B52%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.6%
×Asset turnover0.37×
×Equity multiplier1.77×
=Return on equity, FY20255.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.6% | 0.37× | 1.77× | 5.6% |
| FY2024 | 11.8% | 0.36× | 1.72× | 7.2% |
| FY2023 | 13.8% | 0.35× | 1.74× | 8.4% |
| FY2022 | 3.3% | 0.31× | 1.80× | 1.9% |
| FY2021 | 5.9% | 0.29× | 1.93× | 3.2% |
| FY2020 | -2.3% | 0.25× | 2.00× | -1.1% |
| FY2019 | 14.2% | 0.33× | 2.06× | 9.6% |
| FY2018 | -4.8% | 0.32× | 2.18× | -3.3% |
| FY2017 | 23.2% | 0.30× | 2.46× | 16.9% |
| FY2016 | 4.0% | 0.28× | 2.75× | 3.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$705.10M
- Cash generatingOperating cash flow above zero$1.70B
- Return on assets improvedROA up on the prior year4.2% → 3.3%
- Earnings backed by cashOperating cash flow above net income$1.70B vs $705.10M
- Less leverageLong-term debt to assets fell25.0% → 30.0%
- Better liquidityCurrent ratio rose1.91 → 1.98
- No dilutionShare count did not rise204M → 199M
- Gross margin improvedGross margin up on the prior year71.46% → 69.71%
- More efficientAsset turnover rose0.36 → 0.39