Zimmer Biomet (ZBH) Financials

$93.28 +0.99 (+1.07%)

Closing price 03:59 PM Eastern

Extended Trading

$93.28 -0.01 (-0.01%)

As of 06:01 PM Eastern

Annual Income Statements for Zimmer Biomet

This table shows Zimmer Biomet's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	902	1,023	230	401	-139	1,132	-379	1,814	306	147
Consolidated Net Income / (Loss)	904	1,024	231	402	-137	1,132	-379	1,813	305	146
Net Income / (Loss) Continuing Operations	905	1,025	291	891	-9.20	1,132	-379	1,813	305	146
Total Pre-Tax Income	1,037	1,067	404	499	-105	906	-271	465	400	153
Total Operating Income	1,286	1,278	696	860	83	1,138	34	799	821	467
Total Gross Profit	5,487	5,310	4,920	4,867	4,303	5,730	5,661	5,670	5,233	4,197
Total Revenue	7,679	7,394	6,940	6,827	6,128	7,982	7,933	7,803	7,615	5,998
Operating Revenue	7,679	7,394	6,940	6,827	6,128	7,982	7,933	7,803	7,615	5,998
Total Cost of Revenue	2,191	2,084	2,020	1,960	1,824	2,253	2,272	2,133	2,382	1,801
Operating Cost of Revenue	2,191	2,084	2,020	1,960	1,824	2,253	2,272	2,133	2,382	1,801
Total Operating Expenses	4,202	4,033	4,224	4,007	4,220	4,592	5,627	4,871	4,412	3,730
Selling, General & Admin Expense	2,930	2,839	2,762	2,843	2,713	3,344	3,379	3,105	2,945	2,284
Research & Development Expense	437	459	406	436	323	449	392	370	366	269
Amortization Expense	592	562	527	530	512	584	596	604	566	337
Other Operating Expenses / (Income)	24	22	34	56	51	95	246	444	-	-
Impairment Charge	0.00	0.00	293	16	503	70	980	332	31	0.00
Restructuring Charge	219	152	203	126	119	50	34	18	505	-
Total Other Income / (Expense), net	-249	-211	-293	-361	-188	-232	-305	-335	-422	-314
Interest Expense	218	201	165	374	212	227	289	325	355	287
Other Income / (Expense), net	-31	-9.30	-128	12	24	-4.80	-16	-9.40	-67	-37
Income Tax Expense	131	42	112	54	-96	-226	108	-1,349	95	7.00
Net Income / (Loss) Discontinued Operations	0.00	0.00	-59	-43	-128	-	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	1.50	1.10	1.00	0.50	1.50	-0.10	-0.10	-0.40	-1.30	-0.80
Basic Earnings per Share	$4.45	$4.91	$1.10	$1.93	($0.67)	$5.52	($1.86)	$8.98	$1.53	$0.78
Weighted Average Basic Shares Outstanding	203.10M	208.70M	209.60M	208.60M	207M	205.10M	203.50M	201.90M	200M	187.40M
Diluted Earnings per Share	$4.43	$4.88	$1.10	$1.91	($0.67)	$5.47	($1.86)	$8.90	$1.51	$0.77
Weighted Average Diluted Shares Outstanding	203.90M	209.70M	210.30M	210.40M	207M	206.70M	203.50M	203.70M	202.40M	189.80M
Weighted Average Basic & Diluted Shares Outstanding	199.06M	205.08M	208.98M	209.18M	207.86M	206.40M	203.90M	202M	199.90M	188.50M
Cash Dividends to Common per Share	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.88

This table shows Zimmer Biomet's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	181	239	249	243	172	419	163	209	233	-131	194
Consolidated Net Income / (Loss)	182	239	249	243	173	419	163	210	233	-131	194
Net Income / (Loss) Continuing Operations	183	240	249	243	173	420	163	210	233	-284	194
Total Pre-Tax Income	229	289	230	302	215	285	219	277	287	-75	178
Total Operating Income	292	389	280	351	266	354	267	330	327	-28	245
Total Gross Profit	1,359	1,437	1,286	1,388	1,377	1,401	1,235	1,344	1,330	1,305	1,182
Total Revenue	1,909	2,023	1,824	1,942	1,889	1,940	1,754	1,870	1,831	1,825	1,670
Operating Revenue	1,909	2,023	1,824	1,942	1,889	1,940	1,754	1,870	1,831	1,825	1,670
Total Cost of Revenue	550	587	539	554	512	539	519	526	501	520	488
Operating Cost of Revenue	550	587	539	554	512	539	519	526	501	520	488
Total Operating Expenses	1,067	1,047	1,006	1,037	1,111	1,047	968	1,014	1,003	1,333	936
Selling, General & Admin Expense	759	747	710	737	736	722	675	726	716	727	655
Research & Development Expense	111	109	112	109	108	113	117	118	110	108	102
Amortization Expense	151	158	148	144	142	145	145	138	133	132	132
Other Operating Expenses / (Income)	11	14	4.40	5.20	0.40	5.20	7.30	7.90	1.30	2.90	20
Restructuring Charge	36	21	32	42	124	61	24	24	42	74	28
Total Other Income / (Expense), net	-63	-100	-49	-49	-51	-70	-47	-53	-41	-47	-68
Interest Expense	66	62	54	51	51	50	51	52	48	43	42
Other Income / (Expense), net	2.90	-38	5.10	2.00	-0.10	-20	3.80	-1.20	7.70	-3.90	-25
Income Tax Expense	47	49	-19	59	42	-135	56	67	54	55	-17
Net Income / (Loss) Attributable to Noncontrolling Interest	0.60	0.60	0.20	0.30	0.40	0.50	0.20	0.20	0.20	0.30	0.20
Basic Earnings per Share	$0.92	$1.20	$1.23	$1.18	$0.84	$2.02	$0.78	$1.00	$1.11	($0.62)	$0.92
Weighted Average Basic Shares Outstanding	198.90M	203.10M	202.30M	205.70M	205.20M	208.70M	208.90M	208.60M	209.40M	209.60M	209.80M
Diluted Earnings per Share	$0.91	$1.18	$1.23	$1.18	$0.84	$2.00	$0.77	$1.00	$1.11	($0.62)	$0.92
Weighted Average Diluted Shares Outstanding	199.70M	203.90M	203M	206.40M	206.20M	209.70M	210M	209.90M	210.40M	210.30M	210.30M
Weighted Average Basic & Diluted Shares Outstanding	197.85M	199.06M	199.07M	203.65M	205.73M	205.08M	208.98M	208.96M	208.57M	208.98M	209.85M
Cash Dividends to Common per Share	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24	$0.24

This table details how cash moves in and out of Zimmer Biomet's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	110	40	-103	-324	169	75	29	-110	-825	376
Net Cash From Operating Activities	1,499	1,582	1,356	1,404	1,076	1,586	1,747	1,582	1,632	850
Net Cash From Continuing Operating Activities	1,499	1,582	1,356	1,404	1,076	1,586	1,747	1,582	1,632	850
Net Income / (Loss) Continuing Operations	905	1,025	291	446	-9.20	1,132	-379	1,813	305	146
Depreciation Expense	996	952	926	938	898	1,006	1,041	1,063	1,039	712
Non-Cash Adjustments To Reconcile Net Income	101	97	514	257	577	154	1,045	418	465	446
Changes in Operating Assets and Liabilities, net	-503	-493	-376	-236	-390	-706	41	-1,712	-177	-455
Net Cash From Discontinued Operating Activities	0.00	0.00	-	-	-	-	-	-	-	-
Net Cash From Investing Activities	-888	-779	-522	-443	-564	-729	-417	-511	-1,692	-7,558
Net Cash From Continuing Investing Activities	-888	-779	-522	-443	-564	-729	-417	-511	-1,692	-7,558
Purchase of Property, Plant & Equipment	-204	-291	-188	-144	-112	-207	-163	-156	-185	-168
Acquisitions	-429	-238	-130	-8.40	-227	-235	-15	-4.00	-1,443	-7,760
Purchase of Investments	22	33	89	-	54	48	-	-	-1.50	-215
Other Investing Activities, net	-277	-283	-294	-293	-279	-336	-308	-351	-349	-288
Net Cash From Discontinued Investing Activities	0.00	0.00	-	-	-	-	-	-	-	-
Net Cash From Financing Activities	-485	-764	-776	-1,306	-420	-780	-1,302	-1,211	-743	7,107
Net Cash From Continuing Financing Activities	-485	-764	-776	-1,306	-420	-780	-1,302	-1,211	-743	7,107
Repayment of Debt	-885	-136	-1,525	-2,674	-1,781	-1,476	-2,984	-1,850	-2,099	-3,320
Repurchase of Common Equity	-868	-692	-126	0.00	0.00	-	-	-	-416	-150
Payment of Dividends	-196	-201	-201	-345	-199	-197	-195	-194	-188	-157
Issuance of Debt	1,386	175	458	1,600	1,497	749	1,825	593	1,824	10,628
Issuance of Common Equity	82	101	78	123	130	158	108	146	137	105
Other Financing Activities, net	-3.50	-10	541	-8.90	-68	-15	-57	94	0.00	0.70
Net Cash From Discontinued Financing Activities	0.00	0.00	-	-	-	-	-	-	-	-
Other Net Changes in Cash	-17	0.90	-161	21	78	-1.50	-	29	-23	-

This table details how cash moves in and out of Zimmer Biomet's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	859	-44	149	27	-23	124	-28	-10	-46	-170	159
Net Cash From Operating Activities	383	506	396	369	228	588	338	348	308	244	451
Net Cash From Continuing Operating Activities	383	506	396	369	228	589	338	348	308	244	451
Net Income / (Loss) Continuing Operations	183	240	249	243	173	420	163	210	233	-130	194
Consolidated Net Income / (Loss)	183	-	249	243	173	-	163	210	233	-	-
Depreciation Expense	254	264	251	243	239	241	241	238	232	229	231
Non-Cash Adjustments To Reconcile Net Income	20	21	25	26	29	23	16	34	25	319	57
Changes in Operating Assets and Liabilities, net	-74	-19	-129	-143	-212	-95	-82	-133	-182	-173	-32
Net Cash From Investing Activities	-106	-291	-155	-247	-195	-221	-166	-243	-149	-113	-85
Net Cash From Continuing Investing Activities	-106	-291	-155	-247	-195	-221	-166	-243	-149	-113	-85
Purchase of Property, Plant & Equipment	-45	-52	-45	-53	-55	-63	-84	-97	-47	-63	-47
Acquisitions	-2.40	-193	-169	-54	-13	-107	-98	-	-33	-30	-
Sale and/or Maturity of Investments	1.00	-	-	-	10	-	-	-	13	-	-
Other Investing Activities, net	-60	-49	56	-147	-138	-57	8.80	-152	-83	-38	-75
Net Cash From Financing Activities	575	-241	-102	-92	-50	-251	-196	-109	-207	-313	-194
Net Cash From Continuing Financing Activities	576	-241	-102	-92	-50	-251	-196	-109	-207	-313	-194
Repayment of Debt	-894	-816	-57	-2.00	-11	11	-22	-0.10	-125	-527	-25
Repurchase of Common Equity	-230	-72	-596	-86	-114	-410	-	-14	-268	-126	-
Payment of Dividends	-48	-39	-50	-56	-51	-46	-50	-54	-50	-50	-50
Issuance of Debt	1,748	686	585	45	70	175	-145	-65	210	375	-137
Issuance of Common Equity	17	0.50	19	6.60	56	19	21	25	36	15	18
Other Financing Activities, net	-17	-	-2.00	-	-1.50	-	-	-0.70	-9.60	-	-
Other Net Changes in Cash	7.00	-	-	-	-5.70	7.40	-	-	2.90	-15	-

This table presents Zimmer Biomet's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	21,365	21,497	21,066	23,456	24,418	24,639	24,127	26,014	26,684	27,161
Total Current Assets	4,672	4,610	4,427	4,885	5,083	4,724	4,427	4,565	4,664	5,854
Cash & Equivalents	526	416	376	378	802	618	543	524	634	1,459
Accounts Receivable	1,481	1,442	1,382	1,260	1,453	1,364	1,276	1,544	1,604	1,447
Inventories, net	2,235	2,385	2,147	2,148	2,451	2,385	2,257	2,068	1,959	2,254
Prepaid Expenses	430	366	523	271	169	357	352	428	466	529
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00	327	209	-	-	-	-	-
Other Current Nonoperating Assets	0.00	0.00	0.00	502	-	-	-	-	-	-
Plant, Property, & Equipment, net	2,049	2,060	1,873	1,837	2,048	2,077	2,015	2,039	2,038	2,063
Total Noncurrent Assets	14,645	14,827	14,766	16,735	17,287	17,837	17,684	19,411	19,983	19,244
Goodwill	8,951	8,819	8,580	8,919	9,262	9,600	9,594	10,668	10,644	9,934
Intangible Assets	4,598	4,856	5,064	5,534	7,056	7,258	7,685	8,353	8,785	8,746
Other Noncurrent Operating Assets	1,096	1,152	1,122	1,005	969	980	405	389	554	564
Other Noncurrent Nonoperating Assets	0.00	0.00	0.00	1,277	-	-	-	-	-	-
Total Liabilities & Shareholders' Equity	21,365	21,497	21,066	23,456	24,418	24,639	24,127	26,014	26,684	27,161
Total Liabilities	8,889	9,009	9,039	10,790	12,218	12,246	12,851	14,279	17,015	17,271
Total Current Liabilities	2,451	2,857	2,358	3,468	2,557	3,442	2,421	3,070	2,382	1,618
Short-Term Debt	863	900	544	1,605	500	1,500	525	1,225	576	0.00
Accounts Payable	195	411	354	307	330	401	363	330	365	285
Other Current Liabilities	1,393	1,547	1,421	1,317	1,667	1,414	1,391	1,349	1,258	1,186
Other Current Nonoperating Liabilities	0.00	0.00	0.00	177	-	-	-	-	-	-
Total Noncurrent Liabilities	6,438	6,151	6,681	7,322	9,661	8,804	10,429	11,209	14,633	15,653
Long-Term Debt	5,342	4,868	5,152	5,464	7,627	6,721	8,414	8,918	10,666	11,497
Noncurrent Deferred & Payable Income Tax Liabilities	353	358	475	559	790	840	1,000	1,102	3,031	3,150
Other Noncurrent Operating Liabilities	744	926	633	549	656	558	350	446	463	1,006
Other Noncurrent Nonoperating Liabilities	0.00	0.00	0.00	168	-	-	-	-	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	12,476	12,488	12,027	12,666	12,199	12,393	11,276	11,736	9,670	9,889
Total Preferred & Common Equity	12,468	12,481	12,020	12,661	12,194	12,388	11,271	11,736	9,669	9,888
Total Common Equity	12,468	12,481	12,020	12,661	12,194	12,388	11,271	11,736	9,669	9,888
Common Stock	10,041	9,849	9,508	9,318	9,125	8,923	8,689	8,518	8,372	8,198
Retained Earnings	11,095	10,385	9,559	10,292	10,087	10,427	9,491	10,023	8,467	8,348
Treasury Stock	-8,406	-7,562	-6,867	-6,718	-6,720	-6,721	-6,722	-6,722	-6,736	-6,329
Accumulated Other Comprehensive Income / (Loss)	-263	-191	-179	-232	-298	-242	-187	-83	-434	-329
Noncontrolling Interest	8.10	7.70	6.70	5.70	5.20	4.70	4.80	-0.30	1.00	1.50

This table presents Zimmer Biomet's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	22,184	21,365	21,720	21,520	21,452	21,497	21,217	21,294	21,244	21,066	21,333
Total Current Assets	5,590	4,672	4,864	4,639	4,632	4,610	4,372	4,388	4,412	4,427	4,534
Cash & Equivalents	1,385	526	569	420	393	416	292	320	330	376	545
Accounts Receivable	1,533	1,481	1,482	1,418	1,446	1,442	1,341	1,367	1,381	1,382	1,279
Inventories, net	2,244	2,235	2,369	2,370	2,388	2,385	2,323	2,276	2,241	2,147	2,129
Prepaid Expenses	428	430	445	431	404	366	416	425	460	523	347
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	235
Plant, Property, & Equipment, net	2,065	2,049	2,107	2,103	2,091	2,060	2,032	1,975	1,906	1,873	1,802
Total Noncurrent Assets	14,529	14,645	14,749	14,778	14,730	14,827	14,813	14,931	14,925	14,766	14,997
Goodwill	8,989	8,951	8,912	8,825	8,792	8,819	8,710	8,744	8,735	8,580	8,799
Intangible Assets	4,468	4,598	4,665	4,707	4,734	4,856	4,892	5,028	5,072	5,064	5,137
Other Noncurrent Operating Assets	1,072	1,096	1,172	1,246	1,204	1,152	1,211	1,160	1,119	1,122	1,062
Total Liabilities & Shareholders' Equity	22,184	21,365	21,720	21,520	21,452	21,497	21,217	21,294	21,244	21,066	21,333
Total Liabilities	9,780	8,889	9,337	8,771	8,846	9,009	8,699	8,916	9,086	9,039	9,082
Total Current Liabilities	2,295	2,451	3,571	3,608	2,797	2,857	2,072	2,234	2,336	2,358	2,296
Short-Term Debt	600	863	1,713	1,878	970	900	355	520	585	544	659
Accounts Payable	301	195	322	342	370	411	320	355	397	354	334
Current Deferred & Payable Income Tax Liabilities	0.00	-	0.00	0.00	70	-	97	82	47	39	30
Other Current Liabilities	1,394	1,393	1,536	1,389	1,386	1,547	1,300	1,278	1,073	1,421	1,156
Total Noncurrent Liabilities	7,485	6,438	5,766	5,162	6,049	6,151	6,628	6,682	6,750	6,681	6,787
Long-Term Debt	6,576	5,342	4,738	3,957	4,826	4,868	5,127	5,189	5,205	5,152	5,055
Noncurrent Deferred Revenue	0.00	-	0.00	0.00	276	-	403	376	423	421	581
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	353	0.00	0.00	370	358	465	475	485	475	541
Other Noncurrent Operating Liabilities	909	744	1,028	1,205	577	926	632	642	637	633	609
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	12,404	12,476	12,383	12,749	12,606	12,488	12,518	12,379	12,158	12,027	12,251
Total Preferred & Common Equity	12,395	12,468	12,375	12,741	12,598	12,481	12,511	12,372	12,151	12,020	12,245
Total Common Equity	12,395	12,468	12,375	12,741	12,598	12,481	12,511	12,372	12,151	12,020	12,245
Common Stock	10,090	10,041	10,021	9,978	9,949	9,849	9,805	9,769	9,696	9,508	9,467
Retained Earnings	11,230	11,095	10,904	10,703	10,509	10,385	10,015	9,902	9,742	9,559	9,740
Treasury Stock	-8,637	-8,406	-8,348	-7,744	-7,649	-7,562	-7,122	-7,122	-7,109	-6,867	-6,717
Accumulated Other Comprehensive Income / (Loss)	-287	-263	-202	-195	-211	-191	-187	-178	-178	-179	-245
Noncontrolling Interest	8.70	8.10	8.50	8.40	8.10	7.70	7.20	7.10	6.90	6.70	6.40

This table displays calculated financial ratios and metrics derived from Zimmer Biomet's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.85%	6.55%	1.65%	11.42%	-23.24%	0.62%	1.66%	2.47%	26.96%	28.34%
EBITDA Growth	1.39%	48.53%	-17.43%	80.07%	-53.00%	102.02%	-42.85%	3.27%	56.97%	-16.36%
EBIT Growth	-1.09%	123.19%	-34.87%	716.18%	-90.56%	6,123.63%	-97.70%	4.68%	75.33%	-56.55%
NOPAT Growth	-8.51%	144.21%	-34.57%	1,220.38%	-95.91%	5,905.63%	-99.24%	398.45%	40.35%	-43.85%
Net Income Growth	-11.74%	342.52%	-42.38%	392.29%	-112.14%	398.31%	-120.92%	495.34%	108.34%	-79.67%
EPS Growth	-9.22%	343.64%	-42.41%	385.07%	-112.25%	394.09%	-120.90%	489.40%	96.10%	-81.67%
Operating Cash Flow Growth	-5.20%	16.62%	-3.43%	30.56%	-32.17%	-9.25%	10.43%	-3.06%	92.07%	-19.87%
Free Cash Flow Firm Growth	9.90%	-31.90%	-54.43%	346.15%	-51.61%	-35.69%	-16.55%	1,731.09%	100.86%	-2,023.92%
Invested Capital Growth	1.77%	2.84%	-3.22%	-8.19%	-2.36%	1.65%	-7.88%	5.31%	2.60%	214.63%
Revenue Q/Q Growth	1.10%	1.58%	0.70%	9.44%	-13.27%	0.69%	-1.96%	3.79%	0.14%	13.44%
EBITDA Q/Q Growth	1.75%	20.62%	-10.04%	-9.31%	-4.41%	113.73%	-41.86%	-7.64%	-6.89%	22.92%
EBIT Q/Q Growth	1.32%	40.68%	-22.20%	-24.82%	250.49%	18,079.37%	-97.64%	-17.34%	-11.75%	5.23%
NOPAT Q/Q Growth	-14.61%	104.24%	-37.04%	-33.53%	901.20%	19,801.02%	-99.19%	191.31%	1.50%	15.46%
Net Income Q/Q Growth	-16.59%	115.85%	-16.79%	-50.99%	8.28%	1,324.57%	-121.62%	178.17%	-15.76%	-13.29%
EPS Q/Q Growth	-15.62%	115.93%	-17.29%	0.00%	0.00%	1,263.83%	-121.65%	178.13%	-17.49%	-20.62%
Operating Cash Flow Q/Q Growth	-5.19%	27.82%	-6.44%	3.04%	-10.57%	2.84%	-1.32%	-12.42%	11.22%	7.99%
Free Cash Flow Firm Q/Q Growth	6.54%	134.94%	-59.69%	123.73%	-26.66%	11.44%	-29.59%	34.76%	189.18%	1.55%
Invested Capital Q/Q Growth	-0.60%	0.75%	-0.41%	-7.12%	1.68%	0.39%	-5.86%	4.70%	-2.70%	-1.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.46%	71.82%	70.90%	71.29%	70.23%	71.78%	71.36%	72.67%	68.72%	69.98%
EBITDA Margin	29.31%	30.02%	21.54%	26.51%	16.41%	26.79%	13.35%	23.74%	23.56%	19.05%
Operating Margin	16.74%	17.28%	10.03%	12.60%	1.36%	14.25%	0.43%	10.24%	10.78%	7.79%
EBIT Margin	16.34%	17.15%	8.19%	12.78%	1.74%	14.19%	0.23%	10.12%	9.91%	7.18%
Profit (Net Income) Margin	11.77%	13.85%	3.33%	5.88%	-2.24%	14.18%	-4.78%	23.24%	4.00%	2.44%
Tax Burden Percent	87.19%	95.94%	57.35%	80.48%	130.61%	124.92%	139.91%	390.31%	76.23%	95.43%
Interest Burden Percent	82.62%	84.15%	71.00%	57.19%	-98.41%	79.97%	-1,489.56%	58.82%	52.96%	35.59%
Effective Tax Rate	12.68%	3.95%	27.83%	10.72%	0.00%	-24.92%	0.00%	-290.31%	23.77%	4.57%
Return on Invested Capital (ROIC)	6.24%	6.98%	2.85%	4.10%	0.29%	7.16%	0.12%	14.99%	3.13%	3.42%
ROIC Less NNEP Spread (ROIC-NNEP)	2.27%	3.17%	-2.28%	-1.72%	-2.33%	3.55%	-4.36%	2.07%	-0.01%	-2.82%
Return on Net Nonoperating Assets (RNNOA)	1.00%	1.38%	-0.98%	-0.87%	-1.41%	2.40%	-3.41%	1.96%	-0.01%	-1.65%
Return on Equity (ROE)	7.24%	8.35%	1.87%	3.23%	-1.12%	9.56%	-3.30%	16.94%	3.11%	1.78%
Cash Return on Invested Capital (CROIC)	4.49%	4.18%	6.12%	12.64%	2.69%	5.53%	8.31%	9.82%	0.56%	-100.10%
Operating Return on Assets (OROA)	5.85%	5.96%	2.55%	3.65%	0.44%	4.65%	0.07%	3.00%	2.80%	2.34%
Return on Assets (ROA)	4.22%	4.81%	1.04%	1.68%	-0.56%	4.64%	-1.51%	6.88%	1.13%	0.79%
Return on Common Equity (ROCE)	7.24%	8.35%	1.87%	3.23%	-1.12%	9.56%	-3.30%	16.94%	3.11%	1.78%
Return on Equity Simple (ROE_SIMPLE)	7.25%	8.20%	1.93%	3.17%	-1.13%	9.13%	-3.37%	15.45%	3.15%	1.48%
Net Operating Profit after Tax (NOPAT)	1,123	1,227	503	768	58	1,421	24	3,120	626	446
NOPAT Margin	14.62%	16.60%	7.24%	11.25%	0.95%	17.80%	0.30%	39.98%	8.22%	7.44%
Net Nonoperating Expense Percent (NNEP)	3.97%	3.81%	5.13%	5.83%	2.62%	3.62%	4.47%	12.92%	3.14%	6.24%
Return On Investment Capital (ROIC_SIMPLE)	6.01%	6.72%	2.84%	3.89%	0.29%	6.89%	0.12%	14.26%	2.99%	2.09%
Cost of Revenue to Revenue	28.54%	28.18%	29.10%	28.71%	29.77%	28.22%	28.64%	27.33%	31.28%	30.02%
SG&A Expenses to Revenue	38.16%	38.39%	39.79%	41.65%	44.27%	41.89%	42.60%	39.79%	38.67%	38.08%
R&D to Revenue	5.70%	6.20%	5.85%	6.38%	5.27%	5.63%	4.94%	4.74%	4.80%	4.48%
Operating Expenses to Revenue	54.72%	54.54%	60.87%	58.69%	68.87%	57.53%	70.94%	62.42%	57.94%	62.19%
Earnings before Interest and Taxes (EBIT)	1,255	1,268	568	873	107	1,133	18	790	755	430
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,251	2,220	1,495	1,810	1,005	2,139	1,059	1,853	1,794	1,143
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.69	2.02	2.19	1.99	2.48	2.33	1.75	1.92	1.96	1.92
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.74	3.41	3.79	3.70	4.93	3.62	2.48	2.89	2.49	3.16
Price to Earnings (P/E)	23.31	24.65	114.25	62.96	0.00	25.52	0.00	12.43	61.88	129.12
Dividend Yield	0.91%	0.80%	0.77%	0.79%	0.66%	0.68%	0.99%	0.86%	1.02%	0.94%
Earnings Yield	4.29%	4.06%	0.88%	1.59%	0.00%	3.92%	0.00%	8.04%	1.62%	0.77%
Enterprise Value to Invested Capital (EV/IC)	1.47	1.71	1.82	1.78	1.92	1.82	1.43	1.51	1.46	1.46
Enterprise Value to Revenue (EV/Rev)	3.48	4.14	4.56	4.68	6.12	4.57	3.54	4.12	3.88	4.81
Enterprise Value to EBITDA (EV/EBITDA)	11.87	13.77	21.18	17.65	37.33	17.06	26.54	17.37	16.47	25.25
Enterprise Value to EBIT (EV/EBIT)	21.29	24.11	55.69	36.62	351.02	32.21	1,543.84	40.73	39.14	67.04
Enterprise Value to NOPAT (EV/NOPAT)	23.80	24.92	62.99	41.60	645.08	25.68	1,187.57	10.31	47.19	64.71
Enterprise Value to Operating Cash Flow (EV/OCF)	17.82	19.33	23.34	22.75	34.89	23.01	16.08	20.33	18.10	33.96
Enterprise Value to Free Cash Flow (EV/FCFF)	33.08	41.61	29.33	13.49	70.71	33.27	16.48	15.74	264.69	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.50	0.46	0.47	0.56	0.67	0.66	0.79	0.86	1.16	1.16
Long-Term Debt to Equity	0.43	0.39	0.43	0.43	0.63	0.54	0.75	0.76	1.10	1.16
Financial Leverage	0.44	0.44	0.43	0.51	0.61	0.68	0.78	0.94	1.05	0.58
Leverage Ratio	1.72	1.74	1.80	1.93	1.99	2.06	2.18	2.46	2.75	2.24
Compound Leverage Factor	1.42	1.46	1.28	1.10	-1.96	1.65	-32.46	1.45	1.46	0.80
Debt to Total Capital	33.21%	31.59%	32.14%	35.82%	39.98%	39.88%	44.22%	46.36%	53.76%	53.76%
Short-Term Debt to Total Capital	4.62%	4.93%	3.07%	8.13%	2.46%	7.28%	2.60%	5.60%	2.75%	0.00%
Long-Term Debt to Total Capital	28.59%	26.66%	29.07%	27.69%	37.52%	32.61%	41.62%	40.76%	51.01%	53.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.04%	0.04%	0.04%	0.03%	0.03%	0.02%	0.02%	0.00%	0.00%	0.01%
Common Equity to Total Capital	66.74%	68.36%	67.82%	64.15%	59.99%	60.10%	55.76%	53.64%	46.24%	46.23%
Debt to EBITDA	2.76	2.60	3.81	3.91	8.08	3.84	8.44	5.47	6.27	10.06
Net Debt to EBITDA	2.52	2.41	3.56	3.70	7.29	3.56	7.93	5.19	5.91	8.64
Long-Term Debt to EBITDA	2.37	2.19	3.45	3.02	7.59	3.14	7.95	4.81	5.95	10.06
Debt to NOPAT	5.53	4.70	11.34	9.20	139.70	5.79	377.80	3.25	17.96	25.78
Net Debt to NOPAT	5.06	4.36	10.59	8.71	125.91	5.35	354.86	3.08	16.95	22.14
Long-Term Debt to NOPAT	4.76	3.97	10.25	7.11	131.11	4.73	355.61	2.86	17.04	25.78
Altman Z-Score	2.82	2.99	2.92	2.50	2.45	2.55	1.90	1.96	1.59	1.55
Noncontrolling Interest Sharing Ratio	0.06%	0.06%	0.05%	0.04%	0.04%	0.04%	0.02%	0.00%	0.01%	0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.91	1.61	1.88	1.41	1.99	1.37	1.83	1.49	1.96	3.62
Quick Ratio	0.82	0.65	0.75	0.47	0.88	0.58	0.75	0.67	0.94	1.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	808	735	1,079	2,368	531	1,097	1,705	2,043	112	-13,036
Operating Cash Flow to CapEx	735.72%	543.32%	721.77%	977.92%	961.22%	765.72%	1,074.00%	1,014.29%	883.70%	868.92%
Free Cash Flow to Firm to Interest Expense	3.70	3.65	6.55	6.34	2.50	4.83	5.89	6.28	0.31	-45.48
Operating Cash Flow to Interest Expense	6.88	7.86	8.23	3.76	5.07	6.99	6.04	4.86	4.60	2.97
Operating Cash Flow Less CapEx to Interest Expense	5.94	6.41	7.09	3.38	4.54	6.08	5.48	4.38	4.08	2.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.35	0.31	0.29	0.25	0.33	0.32	0.30	0.28	0.33
Accounts Receivable Turnover	5.25	5.24	5.26	5.03	4.35	6.05	5.63	4.96	4.99	5.09
Inventory Turnover	0.95	0.92	0.94	0.85	0.75	0.97	1.05	1.06	1.13	1.04
Fixed Asset Turnover	3.74	3.76	3.74	3.52	2.97	3.90	3.91	3.83	3.71	3.58
Accounts Payable Turnover	7.24	5.45	6.11	6.16	4.99	5.90	6.56	6.14	7.34	8.37
Days Sales Outstanding (DSO)	69.47	69.70	69.45	72.50	83.89	60.35	64.87	73.64	73.12	71.77
Days Inventory Outstanding (DIO)	384.83	396.95	388.15	428.11	483.76	376.04	347.41	344.63	322.85	349.41
Days Payable Outstanding (DPO)	50.41	66.97	59.70	59.25	73.12	61.86	55.65	59.44	49.75	43.58
Cash Conversion Cycle (CCC)	403.90	399.67	397.91	441.36	494.53	374.54	356.63	358.82	346.22	377.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,155	17,840	17,348	17,924	19,524	19,996	19,672	21,354	20,277	19,763
Invested Capital Turnover	0.43	0.42	0.39	0.36	0.31	0.40	0.39	0.37	0.38	0.46
Increase / (Decrease) in Invested Capital	315	492	-577	-1,600	-473	324	-1,682	1,076	514	13,482
Enterprise Value (EV)	26,715	30,576	31,651	31,949	37,524	36,483	28,098	32,170	29,538	28,856
Market Capitalization	21,028	25,216	26,324	25,252	30,194	28,875	19,697	22,553	18,930	18,981
Book Value per Share	$62.63	$59.72	$57.28	$60.60	$58.83	$60.23	$55.26	$57.96	$48.27	$48.52
Tangible Book Value per Share	($5.43)	($5.72)	($7.74)	($8.58)	($19.89)	($21.73)	($29.45)	($35.99)	($48.73)	($43.15)
Total Capital	18,681	18,256	17,724	19,735	20,326	20,614	20,215	21,878	20,911	21,387
Total Debt	6,205	5,768	5,697	7,069	8,127	8,221	8,939	10,143	11,241	11,497
Total Long-Term Debt	5,342	4,868	5,152	5,464	7,627	6,721	8,414	8,918	10,666	11,497
Net Debt	5,679	5,352	5,321	6,691	7,324	7,604	8,396	9,618	10,607	9,874
Capital Expenditures (CapEx)	204	291	188	144	112	207	163	156	185	98
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,558	2,236	2,238	2,644	2,224	2,165	1,988	2,196	2,224	2,612
Debt-free Net Working Capital (DFNWC)	3,084	2,652	2,613	3,022	3,026	2,782	2,531	2,720	2,858	4,236
Net Working Capital (NWC)	2,221	1,752	2,069	1,417	2,526	1,282	2,006	1,495	2,282	4,236
Net Nonoperating Expense (NNE)	219	203	271	366	196	289	403	1,306	321	300
Net Nonoperating Obligations (NNO)	5,679	5,352	5,321	5,258	7,324	7,604	8,396	9,618	10,607	9,874
Total Depreciation and Amortization (D&A)	996	952	926	938	898	1,006	1,041	1,063	1,039	712
Debt-free, Cash-free Net Working Capital to Revenue	33.31%	30.24%	32.24%	38.73%	36.30%	27.12%	25.06%	28.14%	29.20%	43.55%
Debt-free Net Working Capital to Revenue	40.16%	35.87%	37.66%	44.27%	49.39%	34.86%	31.91%	34.86%	37.53%	70.62%
Net Working Capital to Revenue	28.92%	23.70%	29.81%	20.76%	41.23%	16.07%	25.29%	19.16%	29.97%	70.62%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.45	$4.91	$1.10	$1.93	($0.67)	$5.52	($1.86)	$8.98	$1.53	$0.78
Adjusted Weighted Average Basic Shares Outstanding	203.10M	208.70M	209.60M	208.60M	207M	205.10M	203.50M	201.90M	200M	187.40M
Adjusted Diluted Earnings per Share	$4.43	$4.88	$1.10	$1.91	($0.67)	$5.47	($1.86)	$8.90	$1.51	$0.77
Adjusted Weighted Average Diluted Shares Outstanding	203.90M	209.70M	210.30M	210.40M	207M	206.70M	203.50M	203.70M	202.40M	189.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	199.06M	205.08M	208.98M	209.18M	207.86M	206.40M	204.43M	203.15M	201.10M	198.83M
Normalized Net Operating Profit after Tax (NOPAT)	1,314	1,373	860	895	493	880	733	804	1,034	1,247
Normalized NOPAT Margin	17.11%	18.57%	12.40%	13.11%	8.05%	11.03%	9.24%	10.30%	13.58%	20.79%
Pre Tax Income Margin	13.50%	14.43%	5.81%	7.31%	-1.72%	11.35%	-3.42%	5.95%	5.25%	2.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.76	6.30	3.45	2.34	0.50	4.99	0.06	2.43	2.13	1.50
NOPAT to Interest Expense	5.15	6.10	3.05	2.06	0.27	6.26	0.08	9.59	1.76	1.56
EBIT Less CapEx to Interest Expense	4.82	4.86	2.31	1.95	-0.02	4.08	-0.50	1.95	1.61	1.16
NOPAT Less CapEx to Interest Expense	4.22	4.65	1.91	1.67	-0.25	5.35	-0.48	9.11	1.24	1.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.69%	19.62%	86.95%	85.93%	-144.47%	17.38%	-51.46%	10.68%	61.85%	107.46%
Augmented Payout Ratio	117.73%	87.22%	141.57%	85.93%	-144.47%	17.38%	-51.46%	10.68%	198.26%	210.05%

This table displays calculated financial ratios and metrics derived from Zimmer Biomet's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.05%	4.29%	4.03%	3.87%	3.18%	6.30%	5.02%	4.93%	10.09%	2.70%	-0.93%
EBITDA Growth	8.96%	6.72%	4.67%	5.41%	-11.01%	193.33%	13.36%	20.15%	50.70%	-45.95%	-5.25%
EBIT Growth	11.06%	4.87%	5.25%	7.58%	-20.66%	1,139.13%	22.97%	37.81%	135.42%	-124.77%	-9.62%
NOPAT Growth	9.05%	-38.15%	52.74%	13.07%	-19.56%	2,737.67%	-26.18%	15.27%	85.05%	-121.15%	29.62%
Net Income Growth	5.57%	-42.92%	53.10%	15.84%	-25.77%	420.51%	-16.13%	36.37%	1,516.67%	-55.60%	33.24%
EPS Growth	8.33%	-41.00%	59.74%	18.00%	-24.32%	422.58%	-16.30%	36.99%	1,485.71%	-58.97%	33.33%
Operating Cash Flow Growth	67.89%	-13.95%	17.21%	6.18%	-25.90%	140.95%	-25.11%	0.69%	-2.53%	-27.67%	6.27%
Free Cash Flow Firm Growth	126.15%	-73.51%	-182.32%	-146.47%	-133.36%	-94.59%	-104.20%	-86.81%	-70.64%	-67.12%	1,857.91%
Invested Capital Growth	1.03%	1.77%	3.14%	2.23%	2.23%	2.84%	1.65%	0.03%	-1.51%	-3.22%	-9.73%
Revenue Q/Q Growth	-5.64%	10.91%	-6.07%	2.79%	-2.62%	10.63%	-6.20%	2.11%	0.32%	9.30%	-6.29%
EBITDA Q/Q Growth	-10.56%	14.75%	-10.23%	18.26%	-12.40%	12.55%	-9.60%	-0.16%	188.74%	-56.50%	-4.18%
EBIT Q/Q Growth	-15.87%	23.30%	-19.45%	32.92%	-20.56%	23.74%	-17.66%	-1.97%	1,140.37%	-114.64%	-7.72%
NOPAT Q/Q Growth	-27.92%	6.86%	7.02%	32.30%	-59.12%	163.90%	-20.78%	-5.88%	1,440.54%	-107.39%	23.70%
Net Income Q/Q Growth	-23.88%	-4.01%	2.59%	40.51%	-58.75%	157.47%	-22.38%	-9.97%	278.12%	-167.37%	26.22%
EPS Q/Q Growth	-22.88%	-4.07%	4.24%	40.48%	-58.00%	159.74%	-23.00%	-9.91%	279.03%	-167.39%	26.03%
Operating Cash Flow Q/Q Growth	-24.39%	27.95%	7.12%	62.02%	-61.25%	74.29%	-2.96%	13.06%	26.00%	-45.83%	30.48%
Free Cash Flow Firm Q/Q Growth	484.57%	103.14%	-124.50%	36.49%	-692.21%	133.43%	-136.95%	-54.40%	-3.94%	-74.07%	16.15%
Invested Capital Q/Q Growth	0.22%	-0.60%	0.55%	0.86%	0.95%	0.75%	-0.34%	0.86%	1.55%	-0.41%	-1.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.20%	71.00%	70.47%	71.49%	72.88%	72.22%	70.43%	71.89%	72.65%	71.49%	70.76%
EBITDA Margin	28.79%	30.37%	29.36%	30.72%	26.70%	29.68%	29.17%	30.27%	30.96%	10.76%	27.03%
Operating Margin	15.31%	19.23%	15.32%	18.09%	14.07%	18.26%	15.20%	17.63%	17.88%	-1.55%	14.69%
EBIT Margin	15.46%	17.34%	15.60%	18.19%	14.07%	17.25%	15.42%	17.57%	18.30%	-1.76%	13.17%
Profit (Net Income) Margin	9.53%	11.82%	13.66%	12.50%	9.15%	21.59%	9.28%	11.21%	12.71%	-7.16%	11.62%
Tax Burden Percent	79.48%	82.73%	108.16%	80.34%	80.33%	147.24%	74.22%	75.72%	81.17%	174.73%	109.23%
Interest Burden Percent	77.57%	82.36%	80.92%	85.54%	80.93%	85.03%	81.07%	84.29%	85.61%	232.30%	80.76%
Effective Tax Rate	20.31%	16.92%	-8.21%	19.56%	19.67%	-47.52%	25.73%	24.17%	18.86%	0.00%	-9.35%
Return on Invested Capital (ROIC)	5.19%	6.82%	7.00%	6.09%	4.73%	11.32%	4.68%	5.41%	5.81%	-0.43%	6.03%
ROIC Less NNEP Spread (ROIC-NNEP)	4.28%	5.29%	6.04%	5.36%	3.98%	9.38%	4.00%	4.68%	5.23%	-2.52%	4.77%
Return on Net Nonoperating Assets (RNNOA)	1.92%	2.34%	2.68%	2.30%	1.75%	4.08%	1.67%	2.11%	2.45%	-1.08%	2.24%
Return on Equity (ROE)	7.10%	9.15%	9.69%	8.40%	6.48%	15.40%	6.35%	7.52%	8.26%	-1.51%	8.27%
Cash Return on Invested Capital (CROIC)	5.28%	4.49%	4.21%	4.53%	4.42%	4.18%	1.78%	3.71%	5.07%	6.12%	14.58%
Operating Return on Assets (OROA)	5.46%	6.21%	5.52%	6.39%	4.91%	5.99%	5.28%	5.91%	6.07%	-0.55%	4.00%
Return on Assets (ROA)	3.36%	4.23%	4.83%	4.39%	3.19%	7.50%	3.17%	3.77%	4.22%	-2.23%	3.53%
Return on Common Equity (ROCE)	7.10%	9.15%	9.68%	8.39%	6.47%	15.39%	6.35%	7.52%	8.25%	-1.51%	8.27%
Return on Equity Simple (ROE_SIMPLE)	7.37%	0.00%	8.76%	7.83%	7.65%	0.00%	3.79%	4.09%	3.70%	0.00%	2.27%
Net Operating Profit after Tax (NOPAT)	233	323	302	283	214	523	198	250	266	-20	268
NOPAT Margin	12.20%	15.97%	16.58%	14.55%	11.31%	26.93%	11.29%	13.37%	14.50%	-1.09%	16.06%
Net Nonoperating Expense Percent (NNEP)	0.91%	1.52%	0.96%	0.74%	0.75%	1.94%	0.68%	0.73%	0.58%	2.10%	1.26%
Return On Investment Capital (ROIC_SIMPLE)	1.19%	1.73%	1.61%	1.52%	1.16%	2.86%	1.10%	1.38%	1.48%	-0.11%	1.49%
Cost of Revenue to Revenue	28.80%	29.00%	29.53%	28.51%	27.12%	27.78%	29.57%	28.11%	27.35%	28.51%	29.24%
SG&A Expenses to Revenue	39.75%	36.91%	38.90%	37.96%	38.97%	37.23%	38.49%	38.82%	39.10%	39.84%	39.22%
R&D to Revenue	5.79%	5.36%	6.12%	5.63%	5.71%	5.84%	6.67%	6.32%	6.03%	5.92%	6.09%
Operating Expenses to Revenue	55.89%	51.77%	55.15%	53.41%	58.81%	53.97%	55.22%	54.26%	54.77%	73.04%	56.07%
Earnings before Interest and Taxes (EBIT)	295	351	285	353	266	335	270	328	335	-32	220
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	550	615	536	597	504	576	512	566	567	196	451
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.82	1.69	1.77	1.74	2.17	2.02	1.85	2.42	2.19	2.19	1.76
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.93	2.74	2.89	2.95	3.68	3.41	3.19	4.17	3.74	3.79	3.13
Price to Earnings (P/E)	24.71	23.31	20.27	22.32	28.46	24.65	49.01	59.41	59.31	114.25	77.57
Dividend Yield	0.85%	0.91%	0.89%	0.89%	0.73%	0.80%	0.86%	0.67%	0.75%	0.77%	0.94%
Earnings Yield	4.05%	4.29%	4.93%	4.48%	3.51%	4.06%	2.04%	1.68%	1.69%	0.88%	1.29%
Enterprise Value to Invested Capital (EV/IC)	1.56	1.47	1.52	1.52	1.82	1.71	1.60	1.99	1.82	1.82	1.53
Enterprise Value to Revenue (EV/Rev)	3.68	3.48	3.66	3.67	4.40	4.14	3.90	4.92	4.51	4.56	3.88
Enterprise Value to EBITDA (EV/EBITDA)	12.34	11.87	12.58	12.64	15.21	13.77	15.43	19.87	19.03	21.18	16.08
Enterprise Value to EBIT (EV/EBIT)	22.06	21.29	22.47	22.59	27.36	24.11	31.50	41.57	42.16	55.69	36.57
Enterprise Value to NOPAT (EV/NOPAT)	24.79	23.80	21.16	22.84	27.82	24.92	47.27	53.26	50.81	62.99	33.47
Enterprise Value to Operating Cash Flow (EV/OCF)	17.13	17.82	17.59	18.15	21.84	19.33	22.95	26.20	23.80	23.34	18.43
Enterprise Value to Free Cash Flow (EV/FCFF)	29.62	33.08	36.71	33.94	41.68	41.61	90.81	53.75	35.62	29.33	9.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.58	0.50	0.52	0.46	0.46	0.46	0.44	0.46	0.48	0.47	0.47
Long-Term Debt to Equity	0.53	0.43	0.38	0.31	0.38	0.39	0.41	0.42	0.43	0.43	0.41
Financial Leverage	0.45	0.44	0.44	0.43	0.44	0.44	0.42	0.45	0.47	0.43	0.47
Leverage Ratio	1.74	1.72	1.72	1.70	1.72	1.74	1.72	1.74	1.77	1.80	1.82
Compound Leverage Factor	1.35	1.41	1.40	1.46	1.40	1.48	1.39	1.47	1.52	4.19	1.47
Debt to Total Capital	36.65%	33.21%	34.25%	31.40%	31.50%	31.59%	30.46%	31.56%	32.26%	32.14%	31.81%
Short-Term Debt to Total Capital	3.06%	4.62%	9.10%	10.11%	5.27%	4.93%	1.97%	2.87%	3.26%	3.07%	3.67%
Long-Term Debt to Total Capital	33.59%	28.59%	25.16%	21.29%	26.23%	26.66%	28.48%	28.69%	29.00%	29.07%	28.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.04%	0.04%	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
Common Equity to Total Capital	63.30%	66.74%	65.70%	68.56%	68.46%	68.36%	69.50%	68.40%	67.70%	67.82%	68.16%
Debt to EBITDA	3.13	2.76	2.92	2.67	2.69	2.60	2.98	3.21	3.44	3.81	3.44
Net Debt to EBITDA	2.52	2.52	2.66	2.47	2.50	2.41	2.82	3.03	3.24	3.56	3.11
Long-Term Debt to EBITDA	2.86	2.37	2.14	1.81	2.24	2.19	2.79	2.91	3.09	3.45	3.04
Debt to NOPAT	6.28	5.53	4.91	4.82	4.92	4.70	9.12	8.59	9.17	11.34	7.16
Net Debt to NOPAT	5.07	5.06	4.47	4.47	4.58	4.36	8.64	8.11	8.65	10.59	6.48
Long-Term Debt to NOPAT	5.75	4.76	3.60	3.27	4.09	3.97	8.53	7.81	8.24	10.25	6.33
Altman Z-Score	2.66	2.68	2.58	2.68	3.03	2.85	2.78	3.18	2.90	2.82	2.55
Noncontrolling Interest Sharing Ratio	0.07%	0.06%	0.06%	0.06%	0.06%	0.06%	0.05%	0.05%	0.05%	0.05%	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.44	1.91	1.36	1.29	1.66	1.61	2.11	1.96	1.89	1.88	1.98
Quick Ratio	1.27	0.82	0.57	0.51	0.66	0.65	0.79	0.76	0.73	0.75	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	47	7.98	-254	-113	-178	30	-90	244	535	557	2,147
Operating Cash Flow to CapEx	858.30%	983.11%	889.21%	700.95%	413.79%	936.94%	400.47%	357.55%	658.89%	385.17%	955.08%
Free Cash Flow to Firm to Interest Expense	0.70	0.13	-4.68	-2.22	-3.52	0.60	-1.76	4.73	11.09	13.07	50.75
Operating Cash Flow to Interest Expense	5.78	8.18	7.29	7.23	4.50	11.70	6.61	6.74	6.38	5.73	10.66
Operating Cash Flow Less CapEx to Interest Expense	5.11	7.35	6.47	6.20	3.41	10.45	4.96	4.86	5.41	4.24	9.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.35	0.36	0.35	0.35	0.35	0.35	0.34	0.34	0.33	0.31	0.30
Accounts Receivable Turnover	5.17	5.25	5.38	5.40	5.27	5.24	5.56	5.43	5.39	5.26	5.16
Inventory Turnover	0.96	0.95	0.91	0.91	0.91	0.92	0.93	0.93	0.92	0.94	0.88
Fixed Asset Turnover	3.70	3.74	3.67	3.69	3.73	3.76	3.80	3.82	3.81	3.74	3.62
Accounts Payable Turnover	6.64	7.24	6.68	6.10	5.46	5.45	6.32	6.15	5.62	6.11	6.15
Days Sales Outstanding (DSO)	70.64	69.47	67.81	67.55	69.24	69.70	65.67	67.20	67.66	69.45	70.71
Days Inventory Outstanding (DIO)	379.33	384.83	399.50	399.28	403.23	396.95	393.41	394.50	395.06	388.15	416.51
Days Payable Outstanding (DPO)	54.99	50.41	54.67	59.85	66.84	66.97	57.76	59.35	64.96	59.70	59.30
Cash Conversion Cycle (CCC)	394.97	403.90	412.64	406.98	405.62	399.67	401.32	402.35	397.76	397.91	427.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,196	18,155	18,265	18,164	18,009	17,840	17,708	17,768	17,617	17,348	17,420
Invested Capital Turnover	0.43	0.43	0.42	0.42	0.42	0.42	0.41	0.41	0.40	0.39	0.38
Increase / (Decrease) in Invested Capital	186	315	557	396	392	492	288	6.10	-269	-577	-1,878
Enterprise Value (EV)	28,330	26,715	27,825	27,651	32,809	30,576	28,401	35,380	32,081	31,651	26,716
Market Capitalization	22,530	21,028	21,935	22,228	27,397	25,216	23,204	29,984	26,614	26,324	21,541
Book Value per Share	$62.27	$62.63	$60.76	$61.93	$61.39	$59.72	$59.87	$59.32	$58.14	$57.28	$58.36
Tangible Book Value per Share	($5.33)	($5.43)	($5.91)	($3.84)	($4.52)	($5.72)	($5.22)	($6.71)	($7.92)	($7.74)	($8.06)
Total Capital	19,580	18,681	18,834	18,584	18,402	18,256	18,000	18,088	17,947	17,724	17,965
Total Debt	7,176	6,205	6,451	5,835	5,796	5,768	5,482	5,709	5,790	5,697	5,714
Total Long-Term Debt	6,576	5,342	4,738	3,957	4,826	4,868	5,127	5,189	5,205	5,152	5,055
Net Debt	5,792	5,679	5,882	5,415	5,403	5,352	5,190	5,390	5,460	5,321	5,169
Capital Expenditures (CapEx)	45	52	45	53	55	63	84	97	47	63	47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,511	2,558	2,437	2,489	2,412	2,236	2,363	2,354	2,331	2,238	2,352
Debt-free Net Working Capital (DFNWC)	3,895	3,084	3,006	2,909	2,805	2,652	2,656	2,674	2,661	2,613	2,898
Net Working Capital (NWC)	3,295	2,221	1,293	1,031	1,835	1,752	2,301	2,154	2,076	2,069	2,239
Net Nonoperating Expense (NNE)	51	84	53	40	41	104	35	40	33	111	74
Net Nonoperating Obligations (NNO)	5,792	5,679	5,882	5,415	5,403	5,352	5,190	5,390	5,460	5,321	5,169
Total Depreciation and Amortization (D&A)	254	264	251	243	239	241	241	238	232	229	231
Debt-free, Cash-free Net Working Capital to Revenue	32.61%	33.31%	32.08%	33.08%	32.36%	30.24%	32.47%	32.72%	32.79%	32.24%	34.13%
Debt-free Net Working Capital to Revenue	50.60%	40.16%	39.57%	38.66%	37.63%	35.87%	36.48%	37.16%	37.44%	37.66%	42.05%
Net Working Capital to Revenue	42.80%	28.92%	17.02%	13.70%	24.62%	23.70%	31.60%	29.94%	29.21%	29.81%	32.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.92	$1.20	$1.23	$1.18	$0.84	$2.02	$0.78	$1.00	$1.11	($0.62)	$0.92
Adjusted Weighted Average Basic Shares Outstanding	198.90M	203.10M	202.30M	205.70M	205.20M	208.70M	208.90M	208.60M	209.40M	209.60M	209.80M
Adjusted Diluted Earnings per Share	$0.91	$1.18	$1.23	$1.18	$0.84	$2.00	$0.77	$1.00	$1.11	($0.62)	$0.92
Adjusted Weighted Average Diluted Shares Outstanding	199.70M	203.90M	203M	206.40M	206.20M	209.70M	210M	209.90M	210.40M	210.30M	210.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	197.85M	199.06M	199.07M	203.65M	205.73M	205.08M	208.98M	208.96M	208.57M	208.98M	209.85M
Normalized Net Operating Profit after Tax (NOPAT)	262	341	218	316	314	291	216	268	299	32	192
Normalized NOPAT Margin	13.70%	16.83%	11.96%	16.27%	16.60%	15.00%	12.32%	14.36%	16.36%	1.75%	11.47%
Pre Tax Income Margin	12.00%	14.28%	12.62%	15.56%	11.39%	14.66%	12.50%	14.81%	15.66%	-4.10%	10.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.46	5.67	5.24	6.91	5.24	6.65	5.29	6.36	6.95	-0.76	5.20
NOPAT to Interest Expense	3.52	5.22	5.57	5.53	4.21	10.39	3.87	4.84	5.51	-0.47	6.34
EBIT Less CapEx to Interest Expense	3.79	4.84	4.42	5.88	4.16	5.40	3.64	4.48	5.98	-2.24	4.08
NOPAT Less CapEx to Interest Expense	2.85	4.39	4.75	4.50	3.13	9.14	2.23	2.96	4.54	-1.95	5.23
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.12%	21.69%	18.73%	20.35%	20.90%	19.62%	43.23%	40.60%	44.75%	86.95%	88.46%
Augmented Payout Ratio	128.87%	117.73%	130.04%	81.50%	76.73%	87.22%	129.30%	121.34%	132.35%	141.57%	88.46%

Frequently Asked Questions About Zimmer Biomet's Financials

When does Zimmer Biomet's fiscal year end?

According to the most recent income statement we have on file, Zimmer Biomet's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Zimmer Biomet's net income changed over the last 9 years?

Zimmer Biomet's net income appears to be on an upward trend, with a most recent value of $903.80 million in 2024, rising from $146.20 million in 2015. The previous period was $1.02 billion in 2023. View Zimmer Biomet's forecast to see where analysts expect Zimmer Biomet to go next.

What is Zimmer Biomet's operating income?

Zimmer Biomet's total operating income in 2024 was $1.29 billion, based on the following breakdown:

Total Gross Profit: $5.49 billion
Total Operating Expenses: $4.20 billion

How has Zimmer Biomet revenue changed over the last 9 years?

Over the last 9 years, Zimmer Biomet's total revenue changed from $6.00 billion in 2015 to $7.68 billion in 2024, a change of 28.0%.

How much debt does Zimmer Biomet have?

Zimmer Biomet's total liabilities were at $8.89 billion at the end of 2024, a 1.3% decrease from 2023, and a 48.5% decrease since 2015.

How much cash does Zimmer Biomet have?

In the past 9 years, Zimmer Biomet's cash and equivalents has ranged from $375.70 million in 2022 to $1.46 billion in 2015, and is currently $525.50 million as of their latest financial filing in 2024.

How has Zimmer Biomet's book value per share changed over the last 9 years?

Over the last 9 years, Zimmer Biomet's book value per share changed from 48.52 in 2015 to 62.63 in 2024, a change of 29.1%.

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This page (NYSE:ZBH) was last updated on 5/29/2025 by MarketBeat.com Staff

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Zimmer Biomet (ZBH) Financials

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