The company has significantly strengthened its financial position, compressing the debt-to-equity ratio to 0.02 in 2026Q1 while maintaining a robust current ratio of 4.56.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|
| Total Current Assets | 2.2B | 2.13B | 2.18B | 1.92B | 983.34M | 864.52M | 821.76M | 687.47M | 630.68M | 620.34M | 513.77M | 544.8M | 470.02M | 416.81M | 360.11M | 258.77M | 218.97M |
| Cash & Short-Term Investments | 629.85M | 557.24M | 890.06M | 517.79M | 446.06M | 443.45M | 426.74M | 311.49M | 339.68M | 373.71M | 290.31M | 281.03M | 228.7M | 238.92M | 212.4M | 142.67M | 111.7M |
| Cash Only | 560.95M | 526.16M | 784.44M | 467.29M | 150.47M | 193.07M | 239.4M | 195.72M | 139.75M | 118.82M | 66.95M | 60.15M | 82.27M | 89.96M | 212.4M | 142.67M | 111.7M |
| Short-Term Investments | 68.9M | 31.09M | 105.62M | 50.5M | 295.59M | 250.38M | 187.34M | 115.76M | 199.94M | 254.89M | 223.36M | 220.88M | 146.44M | 148.96M | 0 | 0 | 0 |
| Accounts Receivable | 686.43M | 678.94M | 578.33M | 504.87M | 217.31M | 165.65M | 148.1M | 162.42M | 144.36M | 127.06M | 95.78M | 86.35M | 81.2M | 65.14M | 58.6M | 50.06M | 48.58M |
| Days Sales Outstanding | 79.86 | 84.32 | 83.79 | 117.49 | 77.55 | 63.11 | 68.51 | 75.49 | 73.9 | 72.92 | 61.99 | 57.86 | 62.48 | 54.72 | 55.41 | 55.13 | 61.53 |
| Inventory | 772.6M | 759.28M | 659.23M | 848.13M | 298.98M | 237M | 229.15M | 196.31M | 131.25M | 108.41M | 112.69M | 105.26M | 90.94M | 70.35M | 62.31M | 47.37M | 40.88M |
| Days Inventory Outstanding | 281.64 | 289.35 | 232.38 | 564.73 | 413.79 | 361.61 | 384.62 | 398.14 | 300.53 | 263 | 305.35 | 290.33 | 299.68 | 255.9 | 302.44 | 251.32 | 277.23 |
| Other Current Assets | 109.23M | 130.15M | 49.64M | 44.58M | 21M | 0 | 0 | 0 | 100K | 0 | 477K | 64.81M | 63.43M | 37.32M | 23.78M | 16.16M | 15.53M |
| Total Non-Current Assets | 3.24B | 3.18B | 3.07B | 3.17B | 1.09B | 1.09B | 857.72M | 844.61M | 669.99M | 458.16M | 413.87M | 289.3M | 233.52M | 149.5M | 87.02M | 70.61M | 47.6M |
| Property, Plant & Equipment | 618.65M | 628.24M | 611.56M | 646.86M | 243.73M | 221.08M | 216.88M | 199.84M | 171.87M | 143.17M | 124.23M | 114.74M | 69.47M | 64.15M | 61.09M | 52.39M | 45.9M |
| Fixed Asset Turnover | 4.90x | 4.68x | 4.12x | 2.42x | 4.20x | 4.33x | 3.64x | 3.93x | 4.15x | 4.44x | 4.54x | 4.75x | 6.83x | 6.77x | 6.32x | 6.33x | 6.28x |
| Goodwill | 1.44B | 1.44B | 1.43B | 1.43B | 197.47M | 179.71M | 156.72M | 128.78M | 123.73M | 123.89M | 105.93M | 91.96M | 53.2M | 18.37M | 15.37M | 9.81M | 0 |
| Intangible Assets | 720.85M | 745.06M | 795.12M | 924.6M | 63.57M | 68.66M | 86.95M | 78.81M | 87.32M | 78.66M | 61.71M | 33.24M | 34.53M | 29.54M | 9.59M | 7.43M | 0 |
| Long-Term Investments | 16.68M | 0 | 66.13M | 75.43M | 495.85M | 562.48M | 358.52M | 409.51M | 263.12M | 56.13M | 60.44M | 48.76M | 75.35M | 36.53M | -23.78M | 0 | 0 |
| Other Non-Current Assets | 248.4M | 150.6M | 75.1M | 78.59M | 43.31M | 36.33M | 32.04M | 21.74M | 10.36M | 36.28M | 30.93M | -38.1M | -39.09M | -36.41M | 977K | 980K | 1.7M |
| Total Assets | 5.44B | 5.3B | 5.25B | 5.09B | 2.08B | 1.96B | 1.68B | 1.53B | 1.3B | 1.08B | 927.64M | 834.1M | 703.55M | 566.3M | 447.13M | 329.39M | 266.57M |
| Asset Turnover | 0.60x | 0.55x | 0.48x | 0.31x | 0.49x | 0.49x | 0.47x | 0.51x | 0.55x | 0.59x | 0.61x | 0.65x | 0.67x | 0.77x | 0.86x | 1.01x | 1.08x |
| Asset Growth % | 15.97% | 0.97% | 3.26% | 144.98% | 6.07% | 16.54% | 9.62% | 17.79% | 20.6% | 16.26% | 11.21% | 18.56% | 24.23% | 26.65% | 35.75% | 23.56% | - |
| Total Current Liabilities | 482.46M | 498.5M | 855.91M | 392.35M | 159.2M | 140.16M | 120.79M | 111.4M | 96.12M | 93.07M | 79.89M | 82.69M | 89.41M | 67.94M | 39.51M | 29.27M | 31.73M |
| Accounts Payable | 103.66M | 98.85M | 75.12M | 56.67M | 36.1M | 21.95M | 18.2M | 24.61M | 25.89M | 25.04M | 17.47M | 15.97M | 21.26M | 12.73M | 12.55M | 6.5M | 7.25M |
| Days Payables Outstanding | 34.51 | 37.67 | 26.48 | 37.73 | 49.96 | 33.5 | 30.56 | 49.92 | 59.29 | 60.74 | 47.34 | 44.05 | 70.06 | 46.3 | 60.9 | 34.49 | 49.16 |
| Short-Term Debt | 15.12M | 14.74M | 443.35M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.25M |
| Deferred Revenue (Current) | 96.29M | 27.66M | 22.14M | 18.37M | 14.1M | 12.03M | 8.13M | 5.4M | 2.6M | 755K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 337.34M | 357.25M | 185.56M | 201.85M | 66.66M | 64.18M | 50.73M | 43.91M | 39.3M | 40.42M | 37.32M | 33.34M | 26.01M | 19.16M | 18.17M | 14.35M | 10.93M |
| Current Ratio | 4.56x | 4.26x | 2.54x | 4.88x | 6.18x | 6.17x | 6.80x | 6.17x | 6.56x | 6.67x | 6.43x | 6.59x | 5.26x | 6.13x | 9.11x | 8.84x | 6.90x |
| Quick Ratio | 2.95x | 2.74x | 1.77x | 2.72x | 4.30x | 4.48x | 4.91x | 4.41x | 5.20x | 5.50x | 5.02x | 5.32x | 4.24x | 5.10x | 7.54x | 7.22x | 5.61x |
| Cash Conversion Cycle | 326.99 | 336 | 289.68 | 644.48 | 441.38 | 391.22 | 422.57 | 423.7 | 315.14 | 275.18 | 320 | 304.14 | 292.09 | 264.32 | 296.95 | 271.95 | 289.6 |
| Total Non-Current Liabilities | 224.78M | 231.01M | 218.5M | 695.78M | 70.55M | 75.71M | 52.4M | 18.22M | 19.04M | 17.65M | 15.67M | 36.09M | 28.68M | 26M | 21.12M | 17.64M | 6.65M |
| Long-Term Debt | 100.1M | 103.92M | 0 | 417.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 212.91M | 0 | 83.59M | 91.04M | 3.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 95.35M | 23.76M | 23.89M | 84.42M | 1.78M | 4.31M | 6.2M | 6.02M | 8.11M | 10.67M | 7.88M | 13.26M | 5.17M | 6.38M | 7.71M | 5.75M | 2.81M |
| Other Non-Current Liabilities | 100.02M | 103.34M | 111.03M | 102.92M | 65.3M | 71.4M | 46.19M | 12.2M | 10.92M | 6.98M | 7.79M | 22.82M | 23.52M | 19.62M | 13.41M | 11.89M | 3.85M |
| Total Liabilities | 707.24M | 729.51M | 1.07B | 1.09B | 229.75M | 215.88M | 173.19M | 129.63M | 115.15M | 110.72M | 95.56M | 118.78M | 118.09M | 93.94M | 60.63M | 46.91M | 38.38M |
| Total Debt | 115.22M | 118.66M | 537.19M | 520.4M | 6.01M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.25M |
| Net Debt | -445.73M | -407.5M | -247.25M | 53.11M | -144.46M | -193.07M | -239.4M | -195.72M | -139.65M | -118.82M | -66.95M | -60.15M | -82.27M | -89.96M | -212.4M | -142.67M | -106.45M |
| Debt / Equity | 0.02x | 0.03x | 0.13x | 0.13x | 0.00x | - | - | - | - | - | - | - | - | - | - | - | 0.02x |
| Debt / EBITDA | 0.14x | 0.20x | 1.28x | 1.87x | 0.02x | - | - | - | - | - | - | - | - | - | - | - | 0.05x |
| Net Debt / EBITDA | -0.54x | -0.68x | -0.59x | 0.19x | -0.49x | -0.80x | -1.37x | -0.87x | -0.66x | -0.58x | -0.35x | -0.31x | -0.51x | -0.74x | -1.60x | -1.25x | -1.03x |
| Interest Coverage | - | - | 52.45x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 4.73B | 4.57B | 4.18B | 4B | 1.85B | 1.74B | 1.51B | 1.4B | 1.19B | 967.78M | 832.08M | 715.32M | 585.45M | 472.36M | 386.5M | 282.48M | 228.19M |
| Equity Growth % | 41.36% | 9.48% | 4.49% | 116.53% | 6.03% | 15.61% | 7.4% | 18.3% | 22.5% | 16.31% | 16.32% | 22.18% | 23.94% | 22.21% | 36.83% | 23.79% | - |
| Book Value per Share | 34.24 | 33.33 | 30.30 | 34.88 | 17.99 | 16.81 | 14.92 | 13.75 | 11.70 | 9.89 | 8.63 | 7.45 | 6.13 | 5.01 | 4.19 | 3.74 | 3.02 |
| Total Shareholders' Equity | 4.73B | 4.57B | 4.18B | 4B | 1.85B | 1.74B | 1.51B | 1.4B | 1.19B | 967.78M | 832.08M | 715.32M | 585.45M | 472.36M | 386.5M | 282.48M | 228.19M |
| Common Stock | 135K | 135K | 137K | 136K | 100K | 101K | 99K | 99K | 98K | 97K | 96K | 95K | 95K | 93K | 91K | 73K | 74K |
| Retained Earnings | 1.51B | 1.39B | 1.15B | 1.14B | 1.24B | 1.19B | 1.05B | 1.05B | 892.72M | 736.25M | 628.9M | 524.56M | 411.77M | 319.29M | 250.68M | 176.85M | 126.08M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 14.4M | 15.35M | -6.86M | -10.19M | -24.63M | -6.77M | 3.96M | -2.9M | -7.17M | -6.91M | -8.64M | -1.96M | -1.66M | -1.01M | -767K | -1.2M | -718K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Merger integration execution risk
As reported in recent financial statements, GMED's total assets have expanded to $5.4B in 2026Q1 from $4.9B in 2024Q1, signaling a successful absorption of the NuVasive asset base while simultaneously reducing total debt from $525.6M to $115.2M over the same period.
The trajectory suggests a deliberate transition from debt-funded inorganic growth toward a more self-sustaining capital structure. This deleveraging trend implies that the company is prioritizing balance sheet flexibility to navigate the integration of its expanded product portfolio.
Based on the provided quarterly data, the debt-to-equity ratio has compressed significantly from 0.13 in 2024Q4 to 0.02 in 2026Q1, reflecting a disciplined approach to capital management following the substantial debt issuance required for the NuVasive acquisition.
The rapid reduction in leverage suggests that management is focused on restoring a pristine balance sheet to mitigate interest rate sensitivity. Investors should monitor whether this conservative stance persists or if it signals a future pivot toward further strategic acquisitions.
According to the latest balance sheet filings, the current ratio has improved to 4.56 in 2026Q1, up from 2.33 in 2024Q1, indicating a substantial increase in short-term liquidity that provides a significant buffer against potential integration-related cash outflows.
This liquidity profile appears well-positioned to support the high working capital requirements inherent in managing extensive field inventory sets. The strengthening current ratio suggests that the company is effectively converting its expanded revenue base into liquid assets, reducing reliance on external financing.
As indicated by the financial data, goodwill remains a significant component of the asset base at $1.4B, representing approximately 26% of total assets as of 2026Q1, which necessitates ongoing scrutiny regarding the long-term valuation of the NuVasive acquisition.
While the current balance sheet appears healthy, the concentration of goodwill implies that any failure to realize projected synergies could lead to future impairment charges. Investors should interpret this as a potential risk factor that could impact book value if the integration does not meet performance expectations.
Quick answers to the most common questions about buying GMED stock.
As of 2025, Globus Medical, Inc. (GMED) had total assets of $5.30B including $2.13B in current assets.
Globus Medical, Inc. (GMED) carries total debt of $118.7M, offset by $557.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Globus Medical, Inc. (GMED) has total shareholders' equity (book value) of $4.57B ($33.33 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Globus Medical, Inc. (GMED) reported a current ratio of 4.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.