Latest revenue
$2.09B
as of 2026-03-31
Latest net income
$238.1M
as of 2026-03-31
Net margin
11.4%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $16.54B
- Enterprise value
- $23.59B
- P/E (trailing)
- 23.5×
- Forward P/E
- —
- P/B
- 1.31×
- Dividend yield
- 1.1%
- 52-wk high
- $108.29
- 52-wk low
- $79.12
- Beta
- —
- Shares out
- 193.5M
5-year trend
What this company does
Zimmer Biomet designs and sells orthopedic medical devices, including knee and hip replacements, surgical tools, and implants for trauma, sports medicine, and dental procedures. The company generates revenue almost entirely from selling these products to hospitals and surgeons globally, with Q1 2026 net sales of $2.09 billion, up 9% year-over-year. Operating profit jumped 28% as restructuring costs receded, while management aggressively returned capital, repurchasing $250 million of stock against a backdrop of $7.5 billion in total debt.
Key risks
- Leverage: $7.47B total debt with $1.18B current portion due, against just $424M cash—down from $1.38B a year ago after $250M Q1 buybacks.
- Goodwill/intangibles of $14.5B represent 64% of total assets ($22.7B); any impairment from underperforming acquisitions like Embody could materially hit earnings.
- SG&A jumped 12% YoY to $849.9M, outpacing 9.3% sales growth, signaling margin pressure despite operating profit gains from lower restructuring charges.
Profitability
Operating margin
13.3%
20.3%Net margin
8.6%
27.2%Return on equity
5.6%
23.4%Return on assets
3.1%
27.8%Leverage
Debt / equity
0.82×
14.7%Long-term debt / equity
0.55×
27.4%Debt / assets
45.0%
8.1%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.09B | +9.3% | $238.1M | +30.8% | 11.4% |
Q4 2025 2025-12-31 | $2.24B | +10.9% | $139.4M | -41.8% | 6.2% |
Q3 2025 2025-09-30 | $2.00B | +9.7% | $230.9M | -7.3% | 11.5% |
Q2 2025 2025-06-30 | $2.08B | +7.0% | $152.8M | -37.1% | 7.4% |
Q1 2025 2025-03-31 | $1.91B | +1.1% | $182.0M | +5.6% | 9.5% |
Q4 2024 2024-12-31 | $2.02B | — | $239.5M | — | 11.8% |
Q3 2024 2024-09-30 | $1.82B | +4.0% | $249.1M | +53.1% | 13.7% |
Q2 2024 2024-06-30 | $1.94B | +3.9% | $242.8M | +15.8% | 12.5% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Orthopedic, Prosthetic & Surgical Appliances & Supplies · SIC 3842
Your notes
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Insider activity
Insider buying
$0
Insider selling
$950.6K
Net activity
−$950.6K
Distinct insiders
2
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ZBH
Institutional value
$8.33B
Total shares held
96.0M
Distinct holders
677
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 15.3M | $1.39B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 12.8M | $1.16B | — | New |
| 3 | Capital International Investors | 9.1M | $824.6M | — | New |
| 4 | VANGUARD PORTFOLIO MANAGEMENT LLC | 8.7M | $782.2M | — | New |
| 5 | FRANKLIN RESOURCES INC | 5.5M | $493.0M | — | New |
| 6 | PRIMECAP MANAGEMENT CO/CA/ | 3.9M | $353.3M | — | New |
| 7 | Invesco Ltd. | 3.6M | $326.0M | — | New |
| 8 | DIMENSIONAL FUND ADVISORS LP | 2.2M | $201.1M | — | New |
| 9 | EQUITY INVESTMENT CORP | 1.7M | $157.7M | — | New |
| 10 | Legal & General Group Plc | 1.5M | $139.0M | — | New |
| 11 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1.5M | $132.9M | — | New |
| 12 | UBS Group AG | 1.4M | $124.2M | — | New |
| 13 | Bank of New York Mellon Corp | 1.2M | $109.8M | — | New |
| 14 | VANGUARD FIDUCIARY TRUST CO | 1.1M | $100.6M | — | New |
| 15 | SOUND SHORE MANAGEMENT INC /CT/ | 1.1M | $95.1M | — | New |
| 16 | Nuveen, LLC | 999.9K | $90.4M | — | New |
| 17 | DEUTSCHE BANK AG\ | 842.6K | $76.2M | — | New |
| 18 | JPMORGAN CHASE & CO | 828.4K | $73.4M | — | New |
| 19 | Pacer Advisors, Inc. | 741.6K | $67.1M | — | New |
| 20 | Swiss National Bank | 581.7K | $52.6M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
SG&A jumped 12% to $850M while revenue grew only 9.3%—what's driving the deleverage and when does it reverse?
- 2
With $1.18B of debt now current and only $424M cash, how do you refinance without pressuring the $252M quarterly buyback pace?
- 3
R&D fell to $103M from $111M despite competitive pressure in robotics and S.E.T.—is Stryker's Mako gap widening?