Upside case
Bull case
$187+107.9%
GMED would need investors to value it at roughly 42x earnings — about 22x more generous than today's 20x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Globus Medical, Inc. (GMED) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
36
analysts
27 bullish · 1 bearish · 36 covering GMED
Strong Buy
0
Buy
27
Hold
8
Sell
1
Strong Sell
0
Consensus Target
$111
+22.9% vs today
Scenario Range
$34 – $187
Model bear to bull value window
Coverage
36
Published analyst ratings
Valuation Context
20.1x
Forward P/E · Market cap $12.2B
GMED price targets
Three scenarios for where GMED stock could go
Current
~$90
Confidence
64 / 100
Updated
May 1, 2026
Where we are now
Current · $90
Bear
$34
Base
$126
Bull
$187
Market caseClosest to today
Base case
$126+39.6%
At 28x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$34-61.9%
If investor confidence fades or macro conditions deteriorate, a 12x multiple contraction could push GMED down roughly 62% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Globus Medical, Inc.
GMED · NYSEHealthcareMedical - DevicesDecember year-end
Globus Medical is a medical device company specializing in musculoskeletal solutions, primarily for spinal disorders but also expanding into orthopedic trauma and joint reconstruction. It generates revenue through sales of spine implants and instruments (~70% of sales), trauma products, and joint replacement devices, with its enabling technologies—including robotics and navigation systems—driving adoption of its implant portfolio. The company's competitive advantage stems from its integrated ecosystem of robotics, navigation, and specialized implants that create switching costs for surgeons and hospitals.
Market Cap
$12.2B
Revenue TTM
$2.9B
Net Income TTM
$538M
Net Margin
18.3%
GMED Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+14.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$0.68/$0.74
Revenue
$598M/$626M
Q3 2025
EPS
$0.86/$0.76
Revenue
$745M/$743M
Q4 2025
EPS
$1.18/$0.78
Revenue
$769M/$735M
Q1 2026
EPS
$1.28/$1.06
Revenue
$826M/$802M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.68/$0.74 | -8.6% | $598M/$626M | -4.4% |
| Q3 2025 | $0.86/$0.76 | +13.2% | $745M/$743M | +0.4% |
| Q4 2025 | $1.18/$0.78 | +51.1% | $769M/$735M | +4.7% |
| Q1 2026 | $1.28/$1.06 | +20.8% | $826M/$802M | +3.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.6B
+22.8% YoY
FY2
$4.5B
+24.4% YoY
EPS Outlook
FY1
$4.63
+18.1% YoY
FY2
$5.47
+18.2% YoY
Trailing FCF (TTM)$579M
FCF Margin: 19.7%
Next Earnings
May 7, 2026
Expected EPS
$0.92
Expected Revenue
$740M
GMED beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
GMED Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $2.4B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
100.0%
+18.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
UNITED STATES is the largest reported region at 100.0%, up 18.4% YoY.
GMED Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $124 — implies +35.5% from today's price.
Upside to Fair Value
35.5%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
GMED
23.0x
vs
S&P 500
25.1x
9% discount
vs Healthcare Trailing P/E
GMED
23.0x
vs
Healthcare
22.2x
In line with benchmark
vs GMED 5Y Avg P/E
Today
23.0x
vs
5Y Average
54.5x
58% discount
Forward PE
20.1x
S&P 500
19.1x
+6%
Healthcare
18.8x
+7%
5Y Avg
—
—
Trailing PE
23.0x
S&P 500
25.1x
-9%
Healthcare
22.2x
+4%
5Y Avg
54.5x
-58%
PEG Ratio
0.74x
S&P 500
1.72x
-57%
Healthcare
1.53x
-52%
5Y Avg
—
—
EV/EBITDA
19.6x
S&P 500
15.2x
+29%
Healthcare
14.0x
+40%
5Y Avg
24.7x
-21%
Price/FCF
20.7x
S&P 500
21.1x
-2%
Healthcare
18.6x
+11%
5Y Avg
38.5x
-46%
Price/Sales
4.1x
S&P 500
3.1x
+33%
Healthcare
2.8x
+48%
5Y Avg
5.6x
-25%
Dividend Yield
—
S&P 500
1.87%
—
Healthcare
1.42%
—
5Y Avg
—
—
| Metric | GMED | S&P 500 | Healthcare | 5Y Avg GMED |
|---|---|---|---|---|
| Forward PE | 20.1x | 19.1x | 18.8x | — |
| Trailing PE | 23.0x | 25.1x | 22.2x | 54.5x-58% |
| PEG Ratio | 0.74x | 1.72x-57% | 1.53x-52% | — |
| EV/EBITDA | 19.6x | 15.2x+29% | 14.0x+40% | 24.7x-21% |
| Price/FCF | 20.7x | 21.1x | 18.6x+11% | 38.5x-46% |
| Price/Sales | 4.1x | 3.1x+33% | 2.8x+48% | 5.6x-25% |
| Dividend Yield | — | 1.87% | 1.42% | — |
GMED trades above S&P 500 benchmarks on 2 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolGMED Financial Health
Verdict
Strong
GMED generates $579M in free cash flow at a 19.7% margin — returns 2.5% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$2.9B
Revenue Growth
TTM vs prior year
+16.7%
Gross Margin
Gross profit as a share of revenue
67.4%
Operating Margin
Operating income divided by revenue
16.3%
Net Margin
Net income divided by revenue
18.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$3.92
Free Cash Flow (TTM)
Cash generation after capex
$579M
FCF Margin
FCF as share of revenue — the primary cash quality signal
19.7%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
8.9%
ROA
Return on assets, trailing twelve months
10.7%
Cash & Equivalents
Liquid assets on the balance sheet
$526M
Net Cash
Cash exceeds total debt — no net leverage
$408M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
12.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.5%
Dividend
—
Buyback
2.5%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$300M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
135M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageGMED Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Acquisition Integration
A significant portion of GMED's recent revenue growth has been driven by acquisitions. If the integration of companies like Nevro and NuVasive proves complex or if their performance does not meet expectations, it could impact future earnings and profit growth.
High Risk
Market Growth and Competition
Slower-than-expected growth in the spine market and increased competitive pressure could hinder revenue expansion and profitability. This risk is particularly pertinent as the spine market is a critical segment for GMED's overall performance.
Medium
Regulatory and Governmental Factors
Decisions made by regulatory bodies or governments can affect product delivery and usage, posing a risk to the company's operations. Such regulatory changes can lead to delays or increased costs, impacting overall financial performance.
Medium
Product Launches and Expansion
Ineffective product launches or delays in expanding into new musculoskeletal areas could adversely affect the company's financial metrics. Successful entry into new markets is crucial for sustaining growth.
Lower
Sales Cycles
Extended sales cycles, particularly for robotic systems, could disrupt revenue timing and margins. This variability in sales cycles can lead to unpredictability in cash flows and financial planning.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why GMED Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Spine Market Strength
Globus Medical has demonstrated robust performance in the U.S. spine sector, with consistent growth and above-market performance. This strong position is expected to continue driving revenue growth.
Enabling Technologies Adoption
The company's 'Enabling Technologies,' including the Excelsius ecosystem and XR headset, are anticipated to see stronger adoption. This will contribute to higher-margin recurring software and disposable revenue, enhancing overall profitability.
Successful Acquisition Integration
The integration of NuVasive and Nevro has been largely successful, positively impacting earnings. The Nevro acquisition is particularly noted for being EPS accretive and exceeding integration expectations.
Record Financial Performance
Globus Medical has reported record revenue and earnings in recent quarters, driven by its core spine franchise and acquisitions. Analysts expect continued margin expansion due to cost actions and integration benefits.
Strong Free Cash Flow Generation
The company generates strong free cash flow, which supports share repurchases and investment in innovation. This financial strength positions Globus Medical well for future growth opportunities.
Raised EPS Guidance for 2026
Globus Medical has raised its non-GAAP EPS guidance for 2026, reflecting confidence in its future performance. This upward revision indicates positive momentum and expectations for continued growth.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
GMED Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$90.03
52W Range Position
77%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$51.79
+73.8% from the low
52-Week High
$101.40
-11.2% from the high
1 Month
+1.61%
3 Month
+2.89%
YTD
+3.1%
1 Year
+27.7%
3Y CAGR
+15.5%
5Y CAGR
+4.2%
10Y CAGR
+14.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
GMED vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
20.1x
vs 16.9x median
+19% above peer median
Revenue Growth
+22.8%
vs +9.9% median
+130% above peer median
Net Margin
18.3%
vs 9.1% median
+102% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
GME GMED Globus Medical, Inc. | $12.2B | 20.1x | +22.8% | 18.3% | Buy | +22.9% |
SYK SYK Stryker Corporation | $113.1B | 19.7x | +9.9% | 12.9% | Buy | +36.7% |
ZBH ZBH Zimmer Biomet Holdings, Inc. | $16.3B | 9.8x | +3.8% | 9.1% | Hold | +17.9% |
ATE ATEC Alphatec Holdings, Inc. | $1.5B | 35.8x | +27.2% | -21.1% | Buy | +144.4% |
XTN XTNT Xtant Medical Holdings, Inc. | $81M | — | +16.9% | 1.3% | — | — |
MDT MDT Medtronic plc | $99.7B | 14.1x | +2.5% | 13.0% | Buy | +40.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
GMED Dividend and Capital Return
GMED returns 2.5% annually — null% through dividends and 2.5% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
2.5%
Dividend + buyback return per year
Buyback Yield
2.5%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$300M
Estimated Shares Retired
3M
Approx. Share Reduction
2.5%
Shares Outstanding
Current diluted share count from the screening snapshot
135M
At 2.5%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsGMED Investor Questions
Common questions answered from live analyst data and company financials.
01Is Globus Medical, Inc. (GMED) stock a buy or sell in 2026?
Globus Medical, Inc. (GMED) is rated Buy by Wall Street analysts as of 2026. Of 36 analysts covering the stock, 27 rate it Buy or Strong Buy, 8 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $111, implying +22.9% from the current price of $90. The bear case scenario is $34 and the bull case is $187.
02What is the GMED stock price target for 2026?
The Wall Street consensus price target for GMED is $111 based on 36 analyst estimates. The high-end target is $115 (+27.7% from today), and the low-end target is $100 (+11.1%). The base case model target is $126.
03Is Globus Medical, Inc. (GMED) stock overvalued in 2026?
GMED trades at 20.1x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Globus Medical, Inc. (GMED) stock in 2026?
The primary risks for GMED in 2026 are: (1) Acquisition Integration — A significant portion of GMED's recent revenue growth has been driven by acquisitions. (2) Market Growth and Competition — Slower-than-expected growth in the spine market and increased competitive pressure could hinder revenue expansion and profitability. (3) Regulatory and Governmental Factors — Decisions made by regulatory bodies or governments can affect product delivery and usage, posing a risk to the company's operations. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Globus Medical, Inc.'s revenue and earnings forecast?
Analyst consensus estimates GMED will report consensus revenue of $3.6B (+22.8% year-over-year) and EPS of $4.63 (+18.1% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.5B in revenue.
06When does Globus Medical, Inc. (GMED) report its next earnings?
Globus Medical, Inc. is expected to report its next earnings on approximately 2026-05-07. Consensus expects EPS of $0.92 and revenue of $740M. Over recent quarters, GMED has beaten EPS estimates 92% of the time.
07How much free cash flow does Globus Medical, Inc. generate?
Globus Medical, Inc. (GMED) generated $579M in free cash flow over the trailing twelve months — a free cash flow margin of 19.7%. GMED returns capital to shareholders through and share repurchases ($300M TTM).