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ZBHZimmer Biomet Holdings, Inc.
$93.98$18.2B
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
$93.98
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$18.18B
P/E26.5x
52W High$106.88
Volume1.65M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Cash Conversion Strength Offsets Margin Volatility Risk

Zimmer Biomet's investment case hinges on its ability to convert earnings into cash with exceptional efficiency—operating cash flow reached 4.07x net income in 2026Q2—while navigating margin volatility and rising leverage. Revenue growth has stabilized in the ...

GrowthStable
ProfitabilityStable
ValuationAttractive
TechnicalsMixed
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

+8% Peers

P/E is 8% above peer median

03

Market leadership

RS 63 · Avg

Average momentum (RS Rating: 63)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Nov 5
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 steadied at 4.8% in 2026Q2, yet gross margin dipped to 70.8% and operating margin fell to 15.0% from 17.9% in 2026Q1, reflecting SG&A rising to 41% of revenue and EPS volatility (33.8% YoY growth but a 41.7% decline in 2025Q4).

Analyst Consensus+9.7% target
Hold(42 analysts)
17 Buy22 Hold3 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 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ZBH+4.93%
S&P 500 (^GSPC)+13.20%
1-Year Return
ZBH-6.68%
S&P 500 (^GSPC)+15.98%
3-Year Return
ZBH-17.11%
S&P 500 (^GSPC)+80.32%
5-Year Return
ZBH-30.13%
S&P 500 (^GSPC)+73.14%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
26.5x
Forward P/EExpansion
11.0x
EV/EBITDA20th %ile
10.2x
FCF YieldCash Flow
8.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
26.5x
25.3x
60th· Fair
EV/EBITDA
10.2x
13.8x
20th· Low
Price/FCF
12.3x
19.2x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$144.92+54.2%
Base (Fair)$249.83+162.0%
Bull$444.13+372.6%
$144.92 Bear$249.83 Base$444.13 Bull
Current Market Price: $93.98
Trades at a 62.4% discount to Base DCF ($249.83)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$8.23B+7.2% YoY
Net income
$705M-22.0% YoY
Free cash flow
$1.47B+28.9% YoY
Operating margin
16.5%-0.2 pts YoY
ROIC (TTM)5.4%
Avg ROIC 5Y-
ROE (TTM)5.6%
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)
Q3 2026Latest
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
Q4 2025
Nov 5, 2025
$1.90+1.6%
vs $1.87
$2.0B-0.5%
vs $2.0B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·6d ago
Here's Why Zimmer Biomet (ZBH) is a Strong Value Stock

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.

Defense World·Sep 10, 2026
Critical Contrast: Zimmer Biomet (NYSE:ZBH) versus CapsoVision (NASDAQ:CV)

Zimmer Biomet (NYSE: ZBH - Get Free Report) and CapsoVision (NASDAQ: CV - Get Free Report) are both healthcare companies, but which is the better stock? We will compare the two businesses based on the strength of their risk, profitability, analyst recommendations, institutional ownership, dividends, valuation and earnings. Profitability This table compares Zimmer Biomet and CapsoVision's net

GuruFocus·Sep 8, 2026
Is Zimmer Biomet Holdings Inc (ZBH) a Bargain After 3.9% Drop? GF Value Says Undervalued

On September 08, 2026, Zimmer Biomet Holdings Inc (ZBH) shares fell 3.9% to a current price of $94.22. This decline comes amid a 52-week price range of $79.12 t

PRNewsWire·Sep 8, 2026
Zimmer Biomet Announces Americas Leadership Promotions to Accelerate Commercial Transformation

Gary Campbell promoted to President, Americas Brian Hatcher promoted to President, Recon, S.E.T., CMFT, Neuro and Biosurgery Bradley Kessler promoted to President, Americas – Robotics, Technology and Data WARSAW, Ind.

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
$93.98$18.18B26.477.2%8.57%5.6%1.02%
SYK logoSYKStryker Corporation
$275.07$105.45B32.7511.16%14.43%16.36%—
BSX logoBSXBoston Scientific Corporation
$44.92$66.77B23.1519.87%17.47%14.76%—
MDT logoMDTMedtronic plc
$90.77$116.54B24.348.43%13.93%10.51%—
SNN logoSNNSmith & Nephew plc
$27.50$11.55B19.106.09%9.2%21.18%—
GMED logoGMEDGlobus Medical, Inc.
$75.19$10.14B19.1816.65%17.03%11.59%—

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

Aug 5, 2026·SEC

Material company update

Aug 5, 2026·SEC

Material company update

Jun 29, 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

Aug 5, 2026·SEC

FY 2026

May 1, 2026·SEC

FY 2025

Nov 5, 2025·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 $8.51B in revenue for fiscal year 2025. This represents a 806% increase from $939.0M in 1999.

How fast is Zimmer Biomet Holdings, Inc. growing?

Zimmer Biomet Holdings, Inc. (ZBH) grew revenue by 7.2% over the past year. This is steady growth.

Is ZBH profitable?

Yes, Zimmer Biomet Holdings, Inc. (ZBH) is profitable, generating $806.8M in net income for fiscal year 2025 (8.6% net margin).

Dividend & Returns
Does ZBH pay dividends?

Yes, Zimmer Biomet Holdings, Inc. (ZBH) pays a dividend with a yield of 1.02%. This makes it attractive for income-focused investors.

What is ZBH's return on equity?

Zimmer Biomet Holdings, Inc. (ZBH) has a return on equity (ROE) of 5.6%. This is below average, suggesting room for improvement.

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

Zimmer Biomet Holdings, Inc. (ZBH) generated $2.25B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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

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

See returns →