Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, upper extremities, and trauma and CMFT products; sports medicine products for the repair of soft tissue injuries, used in the knee and shoulder; and craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open-heart surgery, trauma, or for deformities of the chest. It offers technology and data, bone cement, and surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. The company's products and solutions are used to treat patients suffering from disorders of, or injuries to, bones, joints, or supporting soft tissues. It serves orthopedic surgeons, neurosurgeons, hospitals, healthcare institutions, stocking distributors, healthcare dealers, and other specialists, as well as agents, healthcare purchasing organizations, or buying groups. It also offers ROSA Robot, which utilizes robotic technologies to assist a surgeon with implant positioning in total knee arthroplasty or partial knee arthroplasty; and the ZBEdge Platform connects robotic and digital technologies together to collect data before, during and after surgery, that can deliver insights to surgeons to assist in making informed decisions on patient care. The company was formerly known as Zimmer Holdings, Inc. and changed its name to Zimmer Biomet Holdings, Inc. in June 2015. Zimmer Biomet Holdings, Inc. was founded in 1927 and is headquartered in Warsaw, Indiana.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $8.2B | $2.2B | $705M | $1.4B | 5.6% | 7.2% | -22.0% |
| 2024 | $7.7B | $2.3B | $904M | $1.1B | 7.2% | 3.8% | -11.7% |
| 2023 | $7.4B | $2.2B | $1.0B | $1.2B | 8.2% | 6.5% | 342.5% |
| 2022 | $6.9B | $1.5B | $231M | $1.1B | 1.9% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,939.90 | 7,394.20 | 7,678.60 | 8,231.50 |
| Operating Revenue | - | 6,939.90 | 7,394.20 | 7,678.60 | 8,231.50 |
| Cost Of Revenue | - | 2,019.50 | 2,083.80 | 2,191.20 | 2,493.70 |
| Gross Profit | - | 4,920.40 | 5,310.40 | 5,487.40 | 5,737.80 |
| Operating Expense | - | 3,728.30 | 3,859.10 | 3,959.10 | 4,381.60 |
| Research And Development | - | 406 | 458.70 | 437.40 | 458.50 |
| Selling General And Administration | - | 2,761.70 | 2,838.90 | 2,929.80 | 3,257.20 |
| Total Expenses | - | 5,747.80 | 5,942.90 | 6,150.30 | 6,875.30 |
| Operating Income | - | 1,192.10 | 1,451.30 | 1,528.30 | 1,356.20 |
| Total Operating Income As Reported | - | 696.30 | 1,277.70 | 1,285.70 | 1,098.10 |
| EBITDA | - | 1,494.70 | 2,220.20 | 2,250.90 | 2,217.40 |
| Normalized EBITDA | - | 1,990.50 | 2,393.80 | 2,493.50 | 2,475.50 |
| EBIT | - | 568.30 | 1,268.50 | 1,254.60 | 1,123.60 |
| Interest Expense | - | 164.80 | 201.20 | 218 | 292.80 |
| Net Interest Income | - | -164.80 | -201.20 | -218 | -292.80 |
| Other Non Operating Income Expenses | - | -128 | -9.30 | -31.10 | 25.50 |
| Other Income Expense | - | -623.80 | -182.90 | -273.70 | -232.60 |
| Interest Expense Non Operating | - | 164.80 | 201.20 | 218 | 292.80 |
| Net Non Operating Interest Income Expense | - | -164.80 | -201.20 | -218 | -292.80 |
| Pretax Income | - | 403.50 | 1,067.30 | 1,036.60 | 830.80 |
| Tax Provision | - | 112.30 | 42.20 | 131.40 | 125.70 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -138.33 | -6.94 | -30.75 | -39.05 |
| Net Income Continuous Operations | - | 291.20 | 1,025.10 | 905.20 | 705.10 |
| Net Income From Continuing And Discontinued Operation | - | 231.40 | 1,024 | 903.80 | 705.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 290.20 | 1,024 | 903.80 | 705.10 |
| Net Income | - | 231.40 | 1,024 | 903.80 | 705.10 |
| Net Income Common Stockholders | - | 231.40 | 1,024 | 903.80 | 705.10 |
| Net Income Including Noncontrolling Interests | - | 232.40 | 1,025.10 | 905.20 | 705.10 |
| Normalized Income | - | 647.67 | 1,190.66 | 1,115.65 | 924.15 |
| Diluted NI Availto Com Stockholders | - | 231.40 | 1,024 | 903.80 | 705.10 |
| Basic Average Shares | - | 209.60 | 208.70 | 203.10 | 198 |
| Diluted Average Shares | - | 210.30 | 209.70 | 203.90 | 198.70 |
| Reconciled Depreciation | - | 926.40 | 951.70 | 996.30 | 1,093.80 |
| Reconciled Cost Of Revenue | - | 1,619.90 | 1,693.60 | 1,786.80 | 2,065.80 |
| Total Unusual Items | - | -495.80 | -173.60 | -242.60 | -258.10 |
| Total Unusual Items Excluding Goodwill | - | -495.80 | -173.60 | -242.60 | -258.10 |
| Minority Interests | - | -1 | -1.10 | -1.50 | 0.10 |
| Net Income Discontinuous Operations | -43.40 | -58.80 | 0 | 0 | - |
| Special Income Charges | - | -495.80 | -173.60 | -242.60 | -258.10 |
| Other Special Charges | 165.10 | - | - | - | - |
| Impairment Of Capital Assets | 16.30 | 292.80 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | - | 203 | 173.60 | 242.60 | 258.10 |
| Depreciation Amortization Depletion Income Statement | - | 526.80 | 561.50 | 591.90 | 665.90 |
| Depreciation And Amortization In Income Statement | - | 526.80 | 561.50 | 591.90 | 665.90 |
| Other Operating Expenses | 52.80 | 33.80 | - | - | - |
| Amortization | - | 526.80 | 561.50 | 591.90 | 665.90 |
| Amortization Of Intangibles Income Statement | - | 526.80 | 561.50 | 591.90 | 665.90 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Zimmer Biomet Holdings, Inc.this co. | ZBH | $16.8B | 23.79β premium | 1.32 | 5.6% | 10.69 |
| Labcorp Holdings Inc. | LH | $21.4B | 24.41 | 2.48 | 10.2% | 13.61 |
| STERIS plc | STE | $20.7B | 26.48 | 2.88 | 10.9% | 14.02 |
| Moderna, Inc. | MRNA | $20.5B | -7.25 | 2.37 | -32.6% | -7.54 |
| Incyte Corporation | INCY | $20.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| 15.72 |
| 3.91 |
| 24.9% |
| 9.75 |
| Viatris Inc. | VTRS | $18.5B | - | 1.26 | -23.9% | - |
| Solventum Corporation | SOLV | $14.3B | 9.17 | 2.83 | 30.8% | 7.23 |
| DaVita Inc. | DVA | $12.3B | 16.52 | -18.94 | -114.7% | 9.29 |
| The Cooper Companies, Inc. | COO | $12.1B | 32.28 | 1.47 | 4.6% | 13.89 |
| Peer Median | - | 16.52 | 2.42 | 7.4% | 9.75 | |