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ZBHZimmer Biomet Holdings, Inc.
$105.59$20.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
ZBH logo

Zimmer Biomet Holdings, Inc.

ZBH
NYSE · Medical Devices
$105.59
At close - Nov 6, 4:00 PM EST - USD
Market Cap$20.43B
P/E26.3x
52W High$112.55
Volume2.66M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Margin Recovery Uneven as Leverage and Liquidity Tighten

ZBH's revenue growth has decelerated from 9.7% year over year in 2025Q3 to 3.1% in 2026Q3, and quarterly gross margin has swung between 64.7% and 72.4%, which suggests the recovery narrative remains unproven.

GrowthStable
ProfitabilityModerate
ValuationAttractive
TechnicalsStrong
Explore valuation models
MARKET ACTION

ZBH price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

+6% Peers

P/E is 6% above peer median

03

Market leadership

RS 83 · Leader

High momentum (Outperforming 83% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Feb 4
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has slowed to 3.1% in 2026Q3 from 9.7% a year earlier while operating margin held at 14.9% and net margin fell to 9.3% against 13.7% in 2024Q3, indicating that SG&A of $855.0M continues to absorb much of the gross profit gains.

Analyst Consensus+3.3% target
Hold(42 analysts)
18 Buy22 Hold2 Sell

The Bull Case

Upside Catalysts

Market leadership in orthopedics

Zimmer Biomet is a global leader in orthopedic reconstructive implants, with strong positions in knee, hip, and shoulder replacements.

Innovation pipeline and robotics

The company is advancing into higher-tech tools like robotics, data, and smart implants, as seen with the ROSA-assisted outpatient shoulder milestone.

Strong free cash flow

Zimmer Biomet has demonstrated robust free cash flow generation, supporting its financial flexibility and shareholder returns.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ZBH+18.10%
S&P 500 (^GSPC)+7.63%
1-Year Return
ZBH+20.38%
S&P 500 (^GSPC)+9.69%
3-Year Return
ZBH-0.76%
S&P 500 (^GSPC)+67.13%
5-Year Return
ZBH-17.30%
S&P 500 (^GSPC)+55.24%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
26.3x
Forward P/EExpansion
12.4x
EV/EBITDA20th %ile
11.4x
FCF YieldCash Flow
8.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
26.3x
25.3x
60th· Fair
EV/EBITDA
11.4x
13.8x
20th· Low
Price/FCF
12.3x
19.8x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$143.55+36.0%
Base (Fair)$246.56+133.5%
Bull$449.31+325.5%
$143.55 Bear$246.56 Base$449.31 Bull
Current Market Price: $105.59
Trades at a 57.2% discount to Base DCF ($246.56)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$8.23B+7.2% YoY
Net income FY25
$705M-22.0% YoY
Free cash flow FY25
$1.47B+28.9% YoY
Operating margin FY25
16.5%-0.2 pts YoY
ROIC (FY25)5.4%
Avg ROIC 5Y4.5%
ROE (TTM)6.1%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate11/12 (92%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 4, 2026
$1.90+1.1%
vs $1.88
$2.1B+1.1%
vs $2.0B
Q3 2026
Aug 5, 2026
$2.07+3.0%
vs $2.01
$2.2B+2.0%
vs $2.1B
Q2 2026
Apr 28, 2026
$2.09+12.4%
vs $1.86
$2.1B+0.8%
vs $2.1B
Q1 2026
Feb 10, 2026
$2.42+1.7%
vs $2.38
$2.2B+0.9%
vs $2.2B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
PRNewsWire·1d ago
Zimmer Biomet Introduces Surgeon-Guided Autonomy, a New Category in Intelligent Surgery

New Category Will Introduce a Closed-Loop Framework: Predict. Perform. Recover.

Zacks Investment Research·2d ago
Why Zimmer Biomet (ZBH) is a Top Momentum Stock for the Long-Term

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

Benzinga·3d ago
Zimmer Biomet Lifts Annual Growth Despite Challenging Knee Market

Zimmer Biomet Holdings (NYSE:ZBH) stock is trading at a 52-week high after the better-than-expected third-quarter earnings.

Seeking Alpha·3d ago
Zimmer Biomet Holdings, Inc. (ZBH) Q3 2026 Earnings Call Transcript

Zimmer Biomet Holdings, Inc. (ZBH) Q3 2026 Earnings Call Transcript

Filtered for Zimmer Biomet Holdings, Inc.More Headlines
04

Compare before deciding

Benchmark ZBH against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Zimmer Biomet Holdings, Inc. (ZBH)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ZBH logoZBHZimmer Biomet Holdings, Inc.Current
$105.59$20.43B26.337.2%8.96%6.05%0.91%
SYK logoSYKStryker Corporation
$325.87$124.93B34.6011.16%13.78%15.61%1.03%
BSX logoBSXBoston Scientific Corporation
$42.75$63.54B17.7919.87%16.56%13.74%—
MDT logoMDTMedtronic plc
$101.80$130.7B25.018.43%13.93%10.51%2.78%
SNN logoSNNSmith & Nephew plc
$31.15$13.08B21.636.09%——2.43%
GMED logoGMEDGlobus Medical, Inc.
$71.05$9.58B17.3316.65%17.76%11.82%—

Compare ZBH vs Peers

Zimmer Biomet Holdings, Inc. (ZBH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SYK

Most directly comparable listed peer for ZBH.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare ZBH against a more recognizable public peer.

Peer Set

Compare Top 5

vs SYK, BSX, MDT, SNN

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ZBH SEC Filings & Documents

Zimmer Biomet Holdings, Inc. (ZBH) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Nov 4, 2026·SEC

Material company update

Aug 5, 2026·SEC

Material company update

Aug 5, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Nov 4, 2026·SEC

FY 2026

Aug 5, 2026·SEC

FY 2026

May 1, 2026·SEC

Get notified when ZBH posts new earnings or crosses analyst targets

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ZBH Frequently Asked Questions

Zimmer Biomet Holdings, Inc. (ZBH) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Zimmer Biomet Holdings, Inc.'s revenue?

Zimmer Biomet Holdings, Inc. (ZBH) reported $8.57B in revenue over the trailing twelve months. Revenue was $8.23B in fiscal year 2025. That is 777% more than the $939.0M of fiscal year 1999.

How fast is Zimmer Biomet Holdings, Inc. growing?

Zimmer Biomet Holdings, Inc. (ZBH) grew revenue by 7.0% over the trailing twelve months, compared with the twelve months before.

Is ZBH profitable?

Yes. Zimmer Biomet Holdings, Inc. (ZBH) earned $767.5M in net income over the trailing twelve months (a 9.0% net margin).

Dividend & Returns
Does ZBH pay dividends?

Yes. Zimmer Biomet Holdings, Inc. (ZBH) pays a dividend that yields 0.91% at the current price, a small yield.

What is ZBH's return on equity?

Zimmer Biomet Holdings, Inc. (ZBH) had a return on equity (ROE) of 6.1% over the trailing twelve months. That is below the market's typical 10-15%.

What is Zimmer Biomet Holdings, Inc.'s free cash flow?

Zimmer Biomet Holdings, Inc. (ZBH) generated $1.66B in free cash flow over the trailing twelve months.

What if you invested $1,000 in ZBH back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →