Zimmer Biomet Holdings (ZBH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Zimmer Biomet Holdings

NYSE•Healthcare•Medical Devices

$94.25-2.53(-0.03%)After hours

Market Cap

$18.11B

P/E

22.5x

P/S

2.1x

P/B

1.4x

Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, upper extremities, and trauma and CMFT products; sports medicine products for the repair of soft tissue injuries, used in the knee and shoulder; and craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open-heart surgery, trauma, or for deformities of the chest. It offers technology and data, bone cement, and surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. The company's products and solutions are used to treat patients suffering from disorders of, or injuries to, bones, joints, or supporting soft tissues. It serves orthopedic surgeons, neurosurgeons, hospitals, healthcare institutions, stocking distributors, healthcare dealers, and other specialists, as well as agents, healthcare purchasing organizations, or buying groups. It also offers ROSA Robot, which utilizes robotic technologies to assist a surgeon with implant positioning in total knee arthroplasty or partial knee arthroplasty; and the ZBEdge Platform connects robotic and digital technologies together to collect data before, during and after surgery, that can deliver insights to surgeons to assist in making informed decisions on patient care. The company was formerly known as Zimmer Holdings, Inc. and changed its name to Zimmer Biomet Holdings, Inc. in June 2015. Zimmer Biomet Holdings, Inc. was founded in 1927 and is headquartered in Warsaw, Indiana.

How this company scores

GoodMetricSide Score: 62/100

Strongest: Cash & Earnings Quality (21/25); weakest: Profitability (10/25).

Profitability10/25

Growth15/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality21/25

Strengths

Low leverageCash-backed earningsConsistent free cash flowConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.5x5y range 20.2x – 123.7x

Currently near its 20-quarter median.

P/S · 2.1x5y range 2.1x – 4.2x

Currently below its 20-quarter median.

P/B · 1.4x5y range 1.4x – 2.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 10.9% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $18.11B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $8.51B
Q. Revenue: $2.18B
TTM EBITDA: $2.31B
TTM Op. Income: $1.21B
Q. Op. Income: $326.10M
TTM Net Income: $806.70M
Q. Net Income: $198.30M
EPS: $1.03
Shares Out.: $192.20M

$8.51B in TTM revenue grew 8.6% YoY, reaching $2.18B last quarter. TTM EBITDA of $2.31B and TTM operating income of $1.21B show growth is flowing through to the bottom line. TTM net income of $806.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 70.8%
EBITDA Margin: 27.4%
Op. Margin: 15.0%
Net Margin: 9.1%

Op. margin of 15.0% is up 0.5% YoY — cost efficiency is improving. Net margin at 9.1% and gross margin of 70.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 4% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.5x
P/S Ratio: 2.1x
P/B Ratio: 1.4x

At 22.5x P/E, the stock trades within typical market levels. P/S of 2.1x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $22.80B
Cash: $410.00M
Long-Term Debt: $6.28B
Book Value: $12.63B
D/E Ratio: 0.5
Debt/EBITDA: 10.5

With $22.80B in assets and $6.28B in long-term debt, D/E is 0.5and book value is $12.63B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 8% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $447.80M
TTM Free Cash Flow: $1.52B
FCF Margin: 17.9%
FCF / Net Income: 1.9

TTM FCF of $1.52B on $447.80M in operating cash flow. The FCF / Net Income ratio of 1.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 3% — an improving trend.