Zimmer Biomet

Health Care Health Care Equipment Warsaw, Indiana Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.2B
                    3y CAGR +5.9%
                    
                    P59
                    
                    +7.2%
                    
                    Net income
                    FY2025
                
$705.1M
                    Net margin +8.6%
                    
                    P31
                    
                    -22.0%
                    
                    Total assets
                    FY2025
                
$23.1B
                    ROA +3.1%
                    
                    P23
                    
                    +8.1%
                    
                    Operating cash flow
                    FY2025
                
$1.7B
                    FCF margin +17.9%
                    
                    P63
                    
                    +13.2%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $23.1B

Total liabilities $10.4B

Shareholders equity $12.7B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$591.9M 12.6%	$525.5M 26.4%	$415.8M 10.7%	$375.7M -0.6%	$378.1M
Accounts Receivable	$1.7B 15.1%	$1.5B 2.7%	$1.4B 4.4%	$1.4B 9.7%	$1.3B
Inventory	$2.3B 2.3%	$2.2B -6.3%	$2.4B 11.1%	$2.1B 0.0%	$2.1B
Prepaid Expenses	$537.3M 24.9%	$430.1M 17.5%	$366.1M -30.0%	$522.9M -12.5%	$597.7M
Total Current Assets	$5.1B 9.6%	$4.7B 1.3%	$4.6B 4.1%	$4.4B -9.4%	$4.9B
Property,Plant and Equipment	$2.2B 7.7%	$2.0B -0.6%	$2.1B 10.0%	$1.9B 2.0%	$1.8B
Goodwill	$9.9B 11.1%	$9.0B 1.5%	$8.8B 2.8%	$8.6B -3.8%	$8.9B
Intangible Assets	$4.7B 2.6%	$4.6B -5.3%	$4.9B -4.1%	$5.1B -8.5%	$5.5B
Other Noncurrent Assets	$1.1B 0.4%	$1.1B -4.9%	$1.2B 2.7%	$1.1B -50.8%	$2.3B
Total Assets	$23.1B 8.1%	$21.4B -0.6%	$21.5B 2.0%	$21.1B -10.2%	$23.5B
Liabilities
Accounts Payable	$303.0M 55.7%	$194.6M -52.6%	$410.6M 16.0%	$354.1M 15.5%	$306.5M
Current Portion of Long Term Debt	$587.1M -32.0%	$863.0M -4.1%	$900.0M 65.3%	$544.3M -66.1%	$1.6B
Other Current Liabilities	$1.7B 21.6%	$1.4B -9.9%	$1.5B 8.8%	$1.4B -4.9%	$1.5B
Total Current Liabilities	$2.6B 5.4%	$2.5B -14.2%	$2.9B 21.2%	$2.4B -32.0%	$3.5B
Long Term Debt	$6.9B 29.8%	$5.3B 9.7%	$4.9B -5.5%	$5.2B -5.7%	$5.5B
Deferred Tax Liabilities	$244.1M -30.8%	$352.5M -1.4%	$357.6M -24.7%	$474.8M -15.0%	$558.5M
Other Noncurrent Liabilities	$626.1M -15.9%	$744.1M -19.6%	$925.8M -12.1%	$1.1B -18.9%	$1.3B
Total Liabilities	$10.4B 16.8%	$8.9B -1.3%	$9.0B -0.3%	$9.0B -16.2%	$10.8B
Equity
Common Stock	$3.2M 0.0%	$3.2M 0.0%	$3.2M 3.2%	$3.1M 0.0%	$3.1M
Additional Paid In Capital	$10.2B 1.4%	$10.0B 2.0%	$9.8B 3.6%	$9.5B 2.0%	$9.3B
Retained Earnings	$11.6B 4.6%	$11.1B 6.8%	$10.4B 8.6%	$9.6B -7.1%	$10.3B
Treasury Stock	$8.9B 5.8%	$8.4B 11.2%	$7.6B 10.1%	$6.9B 2.2%	$6.7B
Accumulated Other Comprehensive Income	$-205.7M 21.7%	$-262.8M -37.6%	$-191.0M -6.5%	$-179.3M 22.6%	$-231.6M
Total Stockholders Equity	$12.7B 1.8%	$12.5B -0.1%	$12.5B 3.8%	$12.0B -5.1%	$12.7B
Noncontrolling Interest	$8.1M 0.0%	$8.1M 5.2%	$7.7M 14.9%	$6.7M 17.5%	$5.7M
Total Liabilitiesand Equity	$23.1B 8.1%	$21.4B -0.6%	$21.5B 2.0%	$21.1B -10.2%	$23.5B

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $8.2B

Operating income $1.1B

Net income $705.1M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$8.2B 7.2%	$7.7B 3.8%	$7.4B 6.5%	$6.9B 1.6%	$6.8B
Expenses Cost of Revenue	$2.5B 13.8%	$2.2B 5.2%	$2.1B 3.2%	$2.0B 3.0%	$2.0B
Expenses Research and Development	$458.5M 4.8%	$437.4M -4.6%	$458.7M 13.0%	$406.0M -6.8%	$435.8M
Expenses Selling,General and Administrative	$3.3B 11.2%	$2.9B 3.2%	$2.8B 2.8%	$2.8B -2.9%	$2.8B
Expenses Depreciation and Amortization	$665.9M 12.5%	$591.9M 5.4%	$561.5M 6.6%	$526.8M -0.5%	$529.5M
Expenses Other Operating Expenses	$258.1M 6.4%	$242.6M 39.7%	$173.6M -26.7%	$236.8M 30.4%	$181.6M
Other Income Expense Operating Income	$1.1B -14.6%	$1.3B 0.6%	$1.3B 83.5%	$696.3M -19.1%	$860.3M
Other Income Expense Other Income/expense	$-267.3M -7.3%	$-249.1M -18.3%	$-210.5M 28.1%	$-292.8M 19.0%	$-361.3M
Other Income Expense Income Before Tax	$830.8M -19.9%	$1.0B -2.9%	$1.1B 164.5%	$403.5M -19.1%	$499.0M
Income Tax Income Tax Expense	$125.7M -4.3%	$131.4M 211.4%	$42.2M -62.4%	$112.3M 109.9%	$53.5M
net Income Other Items Below Tax	$100.0K 106.7%	$-1.5M -36.4%	$-1.1M 98.2%	$-59.8M -36.2%	$-43.9M
net Income net Income	$705.1M -22.0%	$903.8M -11.7%	$1.0B 342.5%	$231.4M -42.4%	$401.6M
net Income Comprehensive Income	$762.2M -8.4%	$832.0M -17.8%	$1.0B 354.8%	$222.6M -52.4%	$467.8M
Earnings Per Share Basic Eps	$4 -20.0%	$4 -9.4%	$5 346.4%	$1 -43.0%	$2
Earnings Per Share Diluted Eps	$4 -19.9%	$4 -9.2%	$5 343.6%	$1 -42.4%	$2
Earnings Per Share Weighted Average Shares Diluted	$198.7M -2.6%	$203.9M -2.8%	$209.7M -0.3%	$210.3M 0.0%	$210.4M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $1.7B

Investing cash flow $-2.0B

Financing cash flow $326.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$705.1M -22.1%	$905.2M -11.7%	$1.0B 252.0%	$291.2M -34.6%	$445.5M
Operating Activities Depreciation and Amortization	$1.1B 9.8%	$996.3M 4.7%	$951.7M 2.7%	$926.4M -1.2%	$937.7M
Operating Activities Stock Based Compensation	$90.2M -10.7%	$101.0M 1.2%	$99.8M -5.0%	$105.0M 38.2%	$76.0M
Operating Activities Deferred Income Taxes	$-87.2M -82.8%	$-47.7M 50.5%	$-96.3M -49.5%	$-64.4M 36.9%	$-102.1M
Operating Activities Changes In Operating Assets and Liabilities	$-104.9M 77.0%	$-455.4M -14.2%	$-398.7M -28.0%	$-311.4M -132.0%	$-134.2M
Operating Activities net Cash From Operating Activities	$1.7B 13.2%	$1.5B -5.2%	$1.6B 16.6%	$1.4B -3.4%	$1.4B
Investing Activities Capital Expenditures	$-224.5M -10.2%	$-203.8M 30.0%	$-291.1M -54.9%	$-187.9M -30.8%	$-143.6M
Investing Activities Business Acquisitions	$-1.4B -404.2%	$-276.3M -104.8%	$-134.9M -35.2%	$-99.8M	—
Investing Activities Other Investing Activities	$-357.9M 12.3%	$-408.1M -15.6%	$-352.9M -50.6%	$-234.3M 21.8%	$-299.7M
Investing Activities net Cash From Investing Activities	$-2.0B -122.5%	$-888.1M -14.0%	$-778.9M -49.2%	$-522.0M -17.8%	$-443.3M
Financing Activities Proceeds From Debt	$2.5B 73.5%	$1.4B 187.4%	$499.8M 9.1%	$458.0M -71.4%	$1.6B
Financing Activities Repayment of Debt	$-1.5B -62.6%	$-900.0M -102.2%	$-445.2M 70.7%	$-1.5B 42.8%	$-2.7B
Financing Activities Repurchase of Common Stock	$-487.0M 43.9%	$-868.0M -25.4%	$-692.2M -447.6%	$-126.4M	—
Financing Activities Dividends Paid	$-190.3M 2.9%	$-196.0M 2.4%	$-200.9M 0.1%	$-201.2M -0.5%	$-200.1M
Financing Activities Proceeds From Stock Issuance	$39.7M -51.6%	$82.1M -18.8%	$101.1M 29.4%	$78.1M -36.2%	$122.5M
Financing Activities Other Financing Activities	$-65.4M -68.1%	$-38.9M -48.5%	$-26.2M -104.9%	$534.5M 408.2%	$-173.4M
Financing Activities net Cash From Financing Activities	$326.0M 167.3%	$-484.5M 36.5%	$-763.5M 1.6%	$-775.7M 40.6%	$-1.3B
Cash Reconciliation Effect of Exchange Rate On Cash	$19.0M 211.1%	$-17.1M -2000.0%	$900.0K 106.2%	$-14.5M -9.8%	$-13.2M
Cash Reconciliation net Change In Cash	$66.4M -39.5%	$109.7M 173.6%	$40.1M 139.0%	$-102.8M 68.2%	$-323.6M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+69.7%	+71.5%	+71.8%	+70.9%	+71.3%
Operating margin	+13.3%	+16.7%	+17.3%	+10.0%	+12.6%
Net margin	+8.6%	+11.8%	+13.8%	+3.3%	+5.9%
FCF margin	+17.9%	+16.9%	+17.5%	+16.8%	+18.5%
Growth
Revenue CAGR (3y)	+5.9%	+4.0%	+6.5%	-4.6%	-4.9%
Returns
ROE	+5.6%	+7.2%	+8.2%	+1.9%	+3.2%
ROA	+3.1%	+4.2%	+4.8%	+1.1%	+1.7%
ROIC	+4.7%	+6.2%	+6.9%	+2.9%	+4.0%
Liquidity
Current ratio	1.98x	1.91x	1.61x	1.88x	1.41x
Quick ratio	0.89x	0.82x	0.65x	0.75x	0.47x
Leverage
D/E	0.82x	0.71x	0.72x	0.75x	0.85x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.36x	0.36x	0.34x	0.33x	0.29x
Cash conversion cycle	+366d	+410d	+417d	+397d	+410d

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Zimmer Biomet

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