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Screener / SEC EDGAR /CIK 0001136869 /10-K filed Feb 20, 2026, compared with Feb 25, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
ZTSSOLVEWZBHABIIB
NYSE Health care · Medical Devices

Zimmer Biomet ZBH

ZBH quote by TradingView

Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. 10-K, Item 1

Employees
17,000
Headquarters
Warsaw, IN
Next results
around Feb 9, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $8.2B through the costs to a net profit of $705.1M · income statement of the 10-K

13% operating margin
Revenue to Gross profit: $5.7BRevenue to Cost of revenue: $2.5BGross profit to Operating profit: $1.1BGross profit to Operating expenses: $4.6BOperating profit to Net profit: $705.1MOperating profit to Tax & other: $393.0MOperating expenses to R&D: $458.5MOperating expenses to Sales, admin & other: $4.2B Revenue: $8.2B REVENUE $8.2B +7% Y/Y Gross profit: $5.7B · 70% margin GROSS PROFIT $5.7B 70% margin Cost of revenue: $2.5B · 30% of revenue COST OF REVENUE $2.5B 30% of revenue Operating profit: $1.1B · 13% margin OPERATING PROFIT $1.1B 13% margin · −15% Y/Y Operating expenses: $4.6B · 56% of revenue OPERATING EXPENSES $4.6B 56% of revenue Net profit: $705.1M · 9% margin NET PROFIT $705.1M 9% margin · −22% Y/Y Tax & other: $393.0M · 5% of revenue TAX & OTHER $393.0M 5% of revenue R&D: $458.5M · 6% of revenue R&D $458.5M 6% of revenue Sales, admin & other: $4.2B · 51% of revenue SALES, ADMIN & OTHER $4.2B 51% of revenue
Gross profit $5.7B 70% margin
Operating profit $1.1B 13% margin · −15% Y/Y
Net profit $705.1M 9% margin · −22% Y/Y
The full income statement, year by year

ZBH among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 7.2%, above 51% of 59 peers (their median 7.1%) REVENUE GROWTH 7.2% · above 51% Gross margin: 69.7%, above 70% of 50 peers (their median 64.2%) GROSS MARGIN 69.7% · above 70% Operating margin: 13.6%, above 50% of 50 peers (their median 13.6%) OPERATING MARGIN 13.6% · above 50% Net margin: 9.0%, above 47% of 59 peers (their median 9.7%) NET MARGIN 9.0% · above 47% FCF margin: 19.2%, above 65% of 55 peers (their median 15.2%) FCF MARGIN 19.2% · above 65% Return on capital: 4.6%, above 10% of 41 peers (their median 9.2%) RETURN ON CAPITAL 4.6% · above 10%
ZBH Peer median Below the median

What changed

10 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 20, 2026 against Feb 25, 2025.

Risk factors
10 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Acquisition of Paragon 28 - Valuation of a Certain Technology Intangible Asset (“As described in Note 9 to the consolidated financial statements, on April 21, 2025, the Company completed the acquisition of Paragon 28 and the fair value of consideration transferred was $1,276.5 million. Of the assets”). Same as last year: Tax Liabilities for Certain Unrecognized Tax Benefits
10-K · XBRL
Accounting checks
10 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 10 checks found nothing to note

  • Critical audit matters changed
    New this year: Acquisition of Paragon 28 - Valuation of a Certain Technology Intangible Asset (“As described in Note 9 to the consolidated financial statements, on April 21, 2025, the Company completed the acquisition of Paragon 28 and the fair value of consideration transferred was $1,276.5 million. Of the assets”). Same as last year: Tax Liabilities for Certain Unrecognized Tax Benefits
  • Receivables +15.1% vs revenue +7.2% (+7.9 pts)
9 more checks with nothing to note
  • Cash from operations $1.7B vs net income $705.1M (FY ending Dec 31, 2025)
  • Inventory +2.3% vs revenue +7.2% (-4.9 pts)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

10 paragraphs in Risk Factors that were not in the 10-K filed Feb 25, 2025. Quoted as filed.

All 10 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    We are transforming aspects of our sales and distribution network and go-to-market model in the U.S. and certain other markets, and these efforts may not be successful and they involve risks and challenges that may adversely impact our business, results of operations and financial condition. We are converting substantial portions of our…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    We are rationalizing our product portfolio to streamline our operations, enhance focus on strategic offerings, and improve cost efficiency. Effective management of our product portfolio is a complex process requiring consideration of different regulatory requirements and approvals, preferences for different surgical techniques,…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Further, our use of artificial intelligence and machine learning in our infrastructure and products exposes us to a variety of threats, risks and uncertainties, including with respect to changing laws and regulations regarding the use of such technologies; the risks of inaccuracies, errors and interruptions affecting business processes…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Natural disasters present risks to our business and financial results which are difficult to predict and address. We face current and long-term operational risks and have in the past experienced business interruptions from severe weather events and other natural conditions, such as hurricanes, tornadoes, droughts, extreme temperatures,…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$6.9B$7.4B$7.7B$8.2B
Net income$231.4M$1.0B$903.8M$705.1M
Operating cash flow$1.4B$1.6B$1.5B$1.7B
Free cash flow$1.2B$1.3B$1.3B$1.5B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$8.2B ▲ 7.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Zimmer Biomet, Warsaw, IN · from the 10-K filed Feb 20, 2026

Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We design, manufacture and market orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; craniomaxillofacial and thoracic (“CMFT”) products; bone cement; surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. We collaborate with healthcare professionals around the globe to advance the pace of innovation.

Headquarters
Warsaw, IN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 4, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we employed approximately 17,000 employees worldwide, including approximately 2,000 employees dedicated to research and development" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 20, 2026 (open at SEC), compared with the 10-K filed Feb 25, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/ZBH/export.csv") into a cell.