Zimmer Biomet (ZBH) Financials

$92.44 +1.96 (+2.16%)

Closing price 03:59 PM Eastern

Extended Trading

$92.26 -0.17 (-0.18%)

As of 06:18 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	147	306	1,814	-379	1,132	-139	401	230	1,023	902
Consolidated Net Income / (Loss)	146	305	1,813	-379	1,132	-137	402	231	1,024	904
Net Income / (Loss) Continuing Operations	146	305	1,813	-379	1,132	-9.20	891	291	1,025	905
Total Pre-Tax Income	153	400	465	-271	906	-105	499	404	1,067	1,037
Total Operating Income	467	821	799	34	1,138	83	860	696	1,278	1,286
Total Gross Profit	4,197	5,233	5,670	5,661	5,730	4,303	4,867	4,920	5,310	5,487
Total Revenue	5,998	7,615	7,803	7,933	7,982	6,128	6,827	6,940	7,394	7,679
Operating Revenue	5,998	7,615	7,803	7,933	7,982	6,128	6,827	6,940	7,394	7,679
Total Cost of Revenue	1,801	2,382	2,133	2,272	2,253	1,824	1,960	2,020	2,084	2,191
Operating Cost of Revenue	1,801	2,382	2,133	2,272	2,253	1,824	1,960	2,020	2,084	2,191
Total Operating Expenses	3,730	4,412	4,871	5,627	4,592	4,220	4,007	4,224	4,033	4,202
Selling, General & Admin Expense	2,284	2,945	3,105	3,379	3,344	2,713	2,843	2,762	2,839	2,930
Research & Development Expense	269	366	370	392	449	323	436	406	459	437
Amortization Expense	337	566	604	596	584	512	530	527	562	592
Other Operating Expenses / (Income)	-	-	444	246	95	51	56	34	22	24
Impairment Charge	0.00	31	332	980	70	503	16	293	0.00	0.00
Restructuring Charge	-	505	18	34	50	119	126	203	152	219
Total Other Income / (Expense), net	-314	-422	-335	-305	-232	-188	-361	-293	-211	-249
Interest Expense	287	355	325	289	227	212	374	165	201	218
Other Income / (Expense), net	-37	-67	-9.40	-16	-4.80	24	12	-128	-9.30	-31
Income Tax Expense	7.00	95	-1,349	108	-226	-96	54	112	42	131
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-128	-43	-59	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.80	-1.30	-0.40	-0.10	-0.10	1.50	0.50	1.00	1.10	1.50
Basic Earnings per Share	$0.78	$1.53	$8.98	($1.86)	$5.52	($0.67)	$1.93	$1.10	$4.91	$4.45
Weighted Average Basic Shares Outstanding	187.40M	200M	201.90M	203.50M	205.10M	207M	208.60M	209.60M	208.70M	203.10M
Diluted Earnings per Share	$0.77	$1.51	$8.90	($1.86)	$5.47	($0.67)	$1.91	$1.10	$4.88	$4.43
Weighted Average Diluted Shares Outstanding	189.80M	202.40M	203.70M	203.50M	206.70M	207M	210.40M	210.30M	209.70M	203.90M
Weighted Average Basic & Diluted Shares Outstanding	188.50M	199.90M	202M	203.90M	206.40M	207.86M	209.18M	208.98M	205.08M	199.06M
Cash Dividends to Common per Share	$0.88	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96	$0.96

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

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	159	-170	-46	-10	-28	124	-23	27	149	-44
Net Cash From Operating Activities	451	244	308	348	338	588	228	369	396	506
Net Cash From Continuing Operating Activities	451	244	308	348	338	589	228	369	396	506
Net Income / (Loss) Continuing Operations	194	-130	233	210	163	420	173	243	249	240
Depreciation Expense	231	229	232	238	241	241	239	243	251	264
Non-Cash Adjustments To Reconcile Net Income	57	319	25	34	16	23	29	26	25	21
Changes in Operating Assets and Liabilities, net	-32	-173	-182	-133	-82	-95	-212	-143	-129	-19
Net Cash From Investing Activities	-85	-113	-149	-243	-166	-221	-195	-247	-155	-291
Net Cash From Continuing Investing Activities	-85	-113	-149	-243	-166	-221	-195	-247	-155	-291
Purchase of Property, Plant & Equipment	-47	-63	-47	-97	-84	-63	-55	-53	-45	-52
Acquisitions	-	-30	-33	-	-98	-107	-13	-54	-169	-193
Purchase of Investments	37	18	-	-	8.20	6.20	-	-	2.80	2.80
Other Investing Activities, net	-75	-38	-83	-152	8.80	-57	-138	-147	56	-49
Net Cash From Financing Activities	-194	-313	-207	-109	-196	-251	-50	-92	-102	-241
Net Cash From Continuing Financing Activities	-194	-313	-207	-109	-196	-251	-50	-92	-102	-241
Repayment of Debt	-25	-527	-125	-0.10	-22	11	-11	-2.00	-57	-816
Repurchase of Common Equity	-	-126	-268	-14	-	-410	-114	-86	-596	-72
Payment of Dividends	-50	-50	-50	-54	-50	-46	-51	-56	-50	-39
Issuance of Debt	-137	375	210	-65	-145	175	70	45	585	686
Issuance of Common Equity	18	15	36	25	21	19	56	6.60	19	0.50

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

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

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

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

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

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

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. See Zimmer Biomet's forecast for analyst expectations on what’s next for the company.

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 5/6/2025 by MarketBeat.com Staff

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Zimmer Biomet (ZBH) Financials

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