ZBHZimmer Biomet

Health care · Medical Devices · NYSE

ZBH and 9 peers, year by year

The 9 Health care companies closest to ZBH in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
ZBH Zimmer Biomet	FY2025	$8.2B	+7.2%	-	13.3%	8.6%	17.9%	5.6%	0.59
SOLV Solventum	FY2025	$8.3B	+0.9%	53.5%	26.2%	18.7%	−0.1%	30.8%	1.00
ZTS Zoetis	FY2025	$9.5B	+2.3%	-	-	28.2%	24.1%	78.3%	2.65
A Agilent Technologies	FY2025	$6.9B	+6.7%	-	21.3%	18.8%	16.6%	19.3%	0.50
BIIB Biogen	FY2025	$9.9B	+2.2%	-	-	13.1%	20.7%	7.1%	0.34
EW Edwards Lifesciences	FY2025	$6.1B	+11.5%	78.0%	20.8%	17.7%	22.0%	10.4%	0.06
STE Steris	FY2026	$5.9B	+8.7%	44.2%	18.6%	13.2%	16.4%	10.9%	0.27
INCY Incyte	FY2025	$5.1B	+21.2%	-	29.5%	25.0%	-	24.9%	-
RMD ResMed	FY2026	$5.7B	+9.9%	61.1%	33.4%	26.9%	29.2%	23.1%	0.10
ISRG Intuitive Surgical	FY2025	$10.1B	+20.5%	66.0%	29.3%	28.4%	24.7%	16.0%	-

Revenuepeer median $6.9B

Sales growthpeer median +8.7%

Gross marginpeer median 61.1%

EW 78.0%
ISRG 66.0%
RMD 61.1%
SOLV 53.5%
STE 44.2%
ZBH -
ZTS -
A -
BIIB -
INCY -

Operating marginpeer median 26.2%

Net marginpeer median 18.8%

FCF marginpeer median 21.4%

Return on equitypeer median 19.3%

Debt / equitypeer median 0.34

ZTS 2.65
SOLV 1.00
ZBH 0.59
A 0.50
BIIB 0.34
STE 0.27
RMD 0.10
EW 0.06
INCY -
ISRG -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	$7.7B	$7.8B	$7.9B	$8.0B	$6.1B	$6.8B	$6.9B	$7.4B	$7.7B	$8.2B
SOLV Dec	-	-	-	-	-	-	$8.1B	$8.2B	$8.3B	$8.3B
ZTS Dec	$4.9B	$5.3B	$5.8B	$6.3B	$6.7B	$7.8B	$8.1B	$8.5B	$9.3B	$9.5B
A Oct	$4.2B	$4.5B	$4.9B	$5.2B	$5.3B	$6.3B	$6.8B	$6.8B	$6.5B	$6.9B
BIIB Dec	$11.4B	$12.3B	$13.5B	$14.4B	$13.4B	$11.0B	$10.2B	$9.8B	$9.7B	$9.9B
EW Dec	$3.0B	$3.4B	$3.7B	$4.3B	$4.4B	$5.2B	$4.5B	$5.0B	$5.4B	$6.1B
STE Mar	-	$2.6B	$2.6B	$2.8B	$3.0B	$3.1B	$4.2B	$4.5B	$5.1B	$5.5B
INCY Dec	$1.1B	$1.5B	$1.9B	$2.2B	$2.7B	$3.0B	$3.4B	$3.7B	$4.2B	$5.1B
RMD Jun	$1.8B	$2.1B	$2.3B	$2.6B	$3.0B	$3.2B	$3.6B	$4.2B	$4.7B	$5.1B
ISRG Dec	$2.7B	$3.1B	$3.7B	$4.5B	$4.4B	$5.7B	$6.2B	$7.1B	$8.4B	$10.1B
Peer median	$3.0B	$3.3B	$3.7B	$4.4B	$4.4B	$5.5B	$6.2B	$6.8B	$6.5B	$6.9B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	+27.9%	+1.8%	+1.7%	+0.6%	−12.0%	+11.4%	+1.6%	+6.5%	+3.8%	+7.2%
SOLV Dec	-	-	-	-	-	-	-	+0.8%	+0.7%	+0.9%
ZTS Dec	+2.6%	+8.6%	+9.8%	+7.5%	+6.6%	+16.5%	+3.9%	+5.7%	+8.3%	+2.3%
A Oct	+4.1%	+6.4%	+9.9%	+5.1%	+3.4%	+18.4%	+8.4%	−0.2%	−4.7%	+6.7%
BIIB Dec	+6.4%	+7.2%	+9.6%	+6.9%	−6.5%	−18.3%	−7.4%	−3.3%	−1.6%	+2.2%
EW Dec	+18.8%	+15.9%	+8.4%	+16.8%	+0.9%	+19.3%	+2.9%	+12.2%	+8.6%	+11.5%
STE Mar	-	-	+0.3%	+6.2%	+8.9%	+2.5%	+47.5%	+7.4%	+13.3%	+6.2%
INCY Dec	+46.7%	+38.9%	+22.5%	+14.7%	+23.5%	+12.0%	+13.7%	+8.9%	+14.8%	+21.2%
RMD Jun	-	+12.4%	+13.2%	+11.4%	+13.4%	+8.1%	+11.9%	+18.0%	+10.9%	+9.8%
ISRG Dec	+13.4%	+16.0%	+18.7%	+20.3%	−2.7%	+31.0%	+9.0%	+14.5%	+17.2%	+20.5%
Peer median	+9.9%	+12.4%	+9.8%	+9.4%	+5.0%	+14.2%	+8.7%	+7.4%	+8.6%	+6.7%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	-	-	-	-	-	-	-	-	-	-
SOLV Dec	-	-	-	-	-	-	57.7%	57.3%	55.6%	53.5%
ZTS Dec	-	-	-	-	-	-	-	-	-	-
A Oct	-	-	-	-	-	-	-	-	-	-
BIIB Dec	87.1%	86.7%	86.5%	86.4%	86.6%	-	-	-	-	-
EW Dec	73.1%	74.5%	74.8%	74.4%	75.4%	76.1%	83.8%	80.5%	79.5%	78.0%
STE Mar	-	39.3%	41.7%	42.2%	43.6%	43.2%	44.6%	43.7%	43.2%	44.0%
INCY Dec	-	-	-	-	-	-	-	-	-	-
RMD Jun	58.0%	58.1%	57.0%	57.3%	58.1%	57.5%	56.6%	55.8%	56.7%	59.4%
ISRG Dec	69.9%	70.2%	69.9%	69.4%	65.6%	69.3%	67.4%	66.4%	67.5%	66.0%
Peer median	71.5%	70.2%	69.9%	69.4%	65.6%	63.4%	57.7%	57.3%	56.7%	59.4%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	10.7%	10.2%	0.4%	14.3%	1.4%	12.6%	10.0%	17.3%	16.7%	13.3%
SOLV Dec	-	-	-	-	-	-	20.8%	20.6%	12.6%	26.2%
ZTS Dec	-	-	-	-	-	-	-	-	-	-
A Oct	14.6%	18.0%	18.4%	18.2%	15.8%	21.3%	23.6%	19.8%	22.9%	21.3%
BIIB Dec	45.0%	43.6%	43.8%	49.0%	33.8%	25.9%	-	-	-	-
EW Dec	25.3%	31.7%	20.1%	26.4%	20.5%	32.3%	33.6%	26.1%	25.3%	20.8%
STE Mar	-	8.7%	15.3%	14.8%	17.7%	17.6%	11.3%	17.4%	16.3%	15.9%
INCY Dec	13.1%	−15.8%	6.9%	18.6%	−9.9%	19.6%	17.1%	16.8%	1.4%	29.5%
RMD Jun	23.3%	20.6%	23.2%	22.2%	27.4%	28.3%	28.0%	26.8%	28.2%	32.7%
ISRG Dec	35.1%	33.9%	32.2%	30.7%	24.1%	31.9%	25.3%	24.8%	28.1%	29.3%
Peer median	24.3%	20.6%	20.1%	22.2%	20.5%	25.9%	23.6%	20.6%	22.9%	26.2%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	4.0%	23.2%	−4.8%	14.2%	−2.3%	5.9%	3.3%	13.8%	11.8%	8.6%
SOLV Dec	-	-	-	-	-	-	16.5%	16.4%	5.8%	18.7%
ZTS Dec	16.8%	16.3%	24.5%	24.0%	24.5%	26.2%	26.2%	27.4%	26.9%	28.2%
A Oct	11.0%	15.3%	6.4%	20.7%	13.5%	19.1%	18.3%	18.1%	19.8%	18.8%
BIIB Dec	32.3%	20.7%	32.9%	41.0%	29.8%	14.2%	29.9%	11.8%	16.9%	13.1%
EW Dec	19.2%	17.0%	19.4%	24.1%	18.8%	28.7%	34.1%	28.0%	76.7%	17.7%
STE Mar	-	4.2%	11.1%	10.9%	13.5%	12.8%	5.8%	2.4%	7.4%	11.3%
INCY Dec	9.4%	−20.4%	5.8%	20.7%	−11.1%	31.8%	10.0%	16.2%	0.8%	25.0%
RMD Jun	19.2%	16.6%	13.5%	15.5%	21.0%	14.8%	21.8%	21.3%	21.8%	27.2%
ISRG Dec	27.3%	21.4%	30.3%	30.8%	24.3%	29.9%	21.3%	25.2%	27.8%	28.4%
Peer median	19.2%	16.4%	16.4%	22.4%	19.9%	22.7%	21.3%	18.1%	19.8%	18.8%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	$1.4B	$1.4B	$1.6B	$1.4B	$1.1B	$1.4B	$1.2B	$1.3B	$1.3B	$1.5B
SOLV Dec	-	-	-	-	-	-	$1.4B	$1.6B	$805.0M	−$10.0M
ZTS Dec	$497.0M	$1.1B	$1.5B	$1.3B	$1.7B	$1.7B	$1.3B	$1.6B	$2.3B	$2.3B
A Oct	$654.0M	$713.0M	$910.0M	$866.0M	$802.0M	$1.3B	$1.0B	$1.5B	$1.4B	$1.2B
BIIB Dec	$4.0B	$3.7B	$5.4B	$6.6B	$3.8B	$3.4B	$1.1B	$1.3B	$2.7B	$2.1B
EW Dec	$528.3M	$832.6M	$688.0M	$928.5M	$647.3M	$1.4B	$973.6M	$642.8M	$289.9M	$1.3B
STE Mar	-	$251.2M	$292.2M	$349.8M	$376.0M	$450.4M	$397.2M	$395.0M	$613.0M	$778.0M
INCY Dec	$184.5M	−$204.0M	$262.7M	$632.6M	−$312.0M	$568.5M	$892.1M	-	-	-
RMD Jun	$489.4M	$351.8M	$442.4M	$390.3M	$706.9M	$634.0M	$216.3M	$573.6M	$1.3B	$1.7B
ISRG Dec	$1.0B	$953.2M	$982.2M	$1.2B	$1.1B	$1.7B	$958.4M	$749.6M	$1.3B	$2.5B
Peer median	$528.3M	$772.8M	$799.0M	$897.2M	$754.5M	$1.4B	$973.6M	$1.0B	$1.3B	$1.5B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	18.9%	18.3%	20.0%	17.3%	17.8%	19.9%	16.8%	17.5%	16.9%	17.9%
SOLV Dec	-	-	-	-	-	-	17.6%	19.8%	9.8%	−0.1%
ZTS Dec	10.2%	21.1%	24.9%	21.3%	25.1%	22.3%	16.4%	19.0%	24.8%	24.1%
A Oct	15.6%	15.9%	18.5%	16.8%	15.0%	20.5%	14.9%	21.6%	21.1%	16.6%
BIIB Dec	34.7%	30.0%	40.3%	45.7%	28.3%	30.8%	11.2%	12.9%	28.1%	20.7%
EW Dec	17.8%	24.2%	18.5%	21.4%	14.8%	26.9%	21.8%	12.8%	5.3%	22.0%
STE Mar	-	9.6%	11.2%	12.6%	12.4%	14.5%	9.4%	8.7%	11.9%	14.3%
INCY Dec	16.7%	−13.3%	14.0%	29.3%	−11.7%	19.0%	26.3%	-	-	-
RMD Jun	26.6%	17.0%	18.9%	15.0%	23.9%	19.8%	6.0%	13.6%	27.8%	32.3%
ISRG Dec	38.2%	30.4%	26.4%	26.2%	26.2%	30.6%	15.4%	10.5%	15.6%	24.7%
Peer median	17.8%	19.1%	18.7%	21.3%	19.5%	21.4%	15.4%	13.2%	18.4%	21.4%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	3.2%	15.5%	−3.4%	9.1%	−1.1%	3.2%	1.9%	8.2%	7.2%	5.6%
SOLV Dec	-	-	-	-	-	-	11.4%	11.5%	16.2%	30.8%
ZTS Dec	55.2%	48.8%	65.4%	55.4%	43.5%	44.8%	48.0%	46.9%	52.1%	78.3%
A Oct	10.9%	14.2%	6.9%	22.6%	14.8%	22.5%	23.6%	21.2%	21.9%	19.3%
BIIB Dec	30.5%	20.1%	34.0%	44.1%	37.4%	14.3%	22.7%	7.8%	9.8%	7.1%
EW Dec	21.7%	19.7%	23.0%	25.2%	18.0%	25.8%	26.2%	21.1%	41.8%	10.4%
STE Mar	-	3.9%	9.1%	9.6%	12.0%	10.2%	3.7%	1.8%	6.0%	9.3%
INCY Dec	24.8%	−19.2%	5.7%	17.2%	−11.3%	25.2%	7.8%	11.5%	0.9%	24.9%
RMD Jun	20.8%	17.5%	15.3%	19.5%	24.9%	16.4%	23.2%	21.7%	21.0%	23.5%
ISRG Dec	12.8%	14.0%	16.9%	16.7%	10.9%	14.3%	12.0%	13.5%	14.1%	16.0%
Peer median	21.7%	15.8%	16.1%	21.0%	16.4%	19.4%	22.7%	13.5%	16.2%	19.3%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	1.16	0.86	0.79	0.66	0.67	0.08	0.47	0.46	0.50	0.59
SOLV Dec	-	-	-	-	-	-	-	0.00	2.71	1.00
ZTS Dec	3.00	2.80	2.95	2.38	1.91	1.45	1.79	1.31	1.38	2.65
A Oct	0.44	0.41	0.39	0.51	0.48	0.51	0.52	0.47	0.57	0.50
BIIB Dec	0.54	0.47	0.46	0.33	0.69	0.58	0.47	0.46	0.27	0.34
EW Dec	0.31	0.35	0.19	0.14	0.13	0.10	0.10	0.09	0.06	0.06
STE Mar	-	-	0.41	0.37	0.34	0.43	0.47	0.51	0.51	0.31
INCY Dec	1.79	0.02	9.91	-	-	-	-	-	-	-
RMD Jun	0.69	0.55	0.14	0.61	0.47	0.23	0.23	0.35	0.15	0.11
ISRG Dec	-	-	-	-	-	-	-	-	-	-
Peer median	0.61	0.44	0.41	0.44	0.48	0.47	0.47	0.46	0.51	0.34

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
ZBH Dec	$1.51	$8.90	−$1.86	$5.47	−$0.67	$1.91	$1.10	$4.88	$4.43	$3.55
SOLV Dec	-	-	-	-	-	-	$7.78	$7.79	$2.76	$8.88
ZTS Dec	$1.65	$1.75	$2.93	$3.11	$3.42	$4.27	$4.49	$5.07	$5.47	$6.02
A Oct	$1.40	$2.10	$0.97	$3.37	$2.30	$3.94	$4.18	$4.19	$4.43	$4.57
BIIB Dec	$16.93	$11.92	$21.58	$31.42	$24.80	$10.40	$20.87	$7.97	$11.18	$8.79
EW Dec	$0.87	$0.90	$1.13	$1.64	$1.30	$2.38	$2.44	$2.30	$6.97	$1.83
STE Mar	-	$1.28	$3.39	$3.55	$4.76	$4.63	$2.48	$1.07	$3.81	$6.20
INCY Dec	$0.54	−$1.53	$0.51	$2.05	−$1.36	$4.27	$1.52	$2.65	$0.15	$6.41
RMD Jun	$2.49	$2.40	$2.19	$2.80	$4.27	$3.24	$5.30	$6.09	$6.92	$9.51
ISRG Dec	$2.09	$1.92	$3.16	$3.85	$2.94	$4.66	$3.65	$5.03	$6.42	$7.87
Peer median	$1.65	$1.84	$2.56	$3.24	$3.18	$4.27	$4.18	$5.03	$5.47	$6.41

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out ZBH and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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