financial statements

The full income statement, balance sheet, and cash-flow statement for Zimmer Biomet Holdings Inc. (ZBH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	8.23B YoY+7.2%	7.68B YoY+3.8%	7.39B YoY+6.5%	6.94B YoY+1.6%	6.83B YoY+11.4%
Cost of revenue	2.49B YoY+13.8%	2.19B YoY+5.2%	2.08B YoY+3.2%	2.02B YoY+3.0%	1.96B YoY+7.5%
Research & development	459M YoY+4.8%	437M YoY-4.6%	459M YoY+13.0%	406M YoY-6.8%	436M YoY+35.0%
Selling, general & administrative	3.26B YoY+11.2%	2.93B YoY+3.2%	2.84B YoY+2.8%	2.76B YoY-2.9%	2.84B YoY+4.8%
Restructuring	—	—	—	—	32.1M
Amortization of intangibles	666M YoY+12.5%	592M YoY+5.4%	562M YoY+6.6%	527M YoY-0.5%	530M YoY+3.4%
Operating income	1.10B YoY-14.6%	1.29B YoY+0.6%	1.28B YoY+83.5%	696M YoY-19.1%	860M YoY+935.3%
Net interest income	-293M YoY-34.3%	-218M YoY-8.3%	-201M YoY-22.1%	-165M YoY+20.9%	-208M YoY+1.7%
Other non-operating income	25.5M YoY+182.0%	-31.1M YoY-234.4%	-9.30M YoY+92.7%	-128M YoY-1149.2%	12.2M YoY-48.7%
Pre-tax income	831M YoY-19.9%	1.04B YoY-2.9%	1.07B YoY+164.5%	404M YoY-19.1%	499M YoY+574.3%
Income tax	126M YoY-4.3%	131M YoY+211.4%	42.2M YoY-62.4%	112M YoY+109.9%	53.5M YoY+155.7%
	705M YoY-22.0%	904M YoY-11.7%	1.02B YoY+342.5%	231M YoY-42.4%	402M YoY+389.1%
Income from continuing operations	—	904M YoY-11.7%	1.02B YoY+252.9%	290M YoY-34.8%	445M YoY+4258.9%
Discontinued operations	—	—	—	-58.8M YoY-35.5%	-43.4M YoY+66.1%
Net income to non-controlling interest	—	—	—	—	500K YoY-66.7%
	$3.55 YoY-19.9%	$4.43 YoY-9.2%	$4.88 YoY+343.6%	$1.10 YoY-42.4%	$1.91 YoY+385.1%
EPS (basic)	$3.56 YoY-20.0%	$4.45 YoY-9.4%	$4.91 YoY+346.4%	$1.10 YoY-43.0%	$1.93 YoY+388.1%
Weighted-avg shares (basic)	198M YoY-2.5%	203M YoY-2.7%	209M YoY-0.4%	210M YoY+0.5%	209M YoY+0.8%
Weighted-avg shares (diluted)	199M YoY-2.6%	204M YoY-2.8%	210M YoY-0.3%	210M YoY-0.0%	210M YoY+1.6%
Dividends per share	$0.96 YoY+0.0%	$0.96 YoY+0.0%	$0.96 YoY+0.0%	$0.96 YoY+0.0%	$0.96 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.12B YoY+9.6%	4.67B YoY+1.3%	4.61B YoY+4.1%	4.43B YoY-9.4%	4.88B YoY-3.9%
Cash & equivalents	592M YoY+12.6%	526M YoY+26.4%	416M YoY+10.7%	376M YoY-0.6%	378M YoY-51.2%
Short-term investments	33.0M YoY+0.0%	33.0M YoY+0.0%	33.0M YoY+0.0%	33.0M YoY+0.0%	33.0M YoY+0.0%
Accounts receivable	1.70B YoY+15.1%	1.48B YoY+2.7%	1.44B YoY+4.4%	1.38B YoY+9.7%	1.26B YoY-1.4%
Inventory	2.29B YoY+2.3%	2.24B YoY-6.3%	2.39B YoY+11.1%	2.15B YoY-0.0%	2.15B YoY-1.2%
Prepaid expenses	537M YoY+24.9%	430M YoY+17.5%	366M YoY-30.0%	523M YoY+93.0%	271M YoY+67.5%
	23.1B YoY+8.1%	21.4B YoY-0.6%	21.5B YoY+2.0%	21.1B YoY-10.2%	23.5B YoY-3.9%
Property, plant & equipment	2.21B YoY+7.7%	2.05B YoY-0.6%	2.06B YoY+10.0%	1.87B YoY+2.0%	1.84B YoY-1.5%
Operating lease right-of-use	204M YoY-4.4%	214M YoY+4.8%	204M YoY+3.8%	196M YoY-10.5%	219M YoY+2.0%
Goodwill	9.95B YoY+11.1%	8.95B YoY+1.5%	8.82B YoY+2.8%	8.58B YoY-3.8%	8.92B YoY-0.7%
Intangible assets	4.72B YoY+2.6%	4.60B YoY-5.3%	4.86B YoY-4.1%	5.06B YoY-8.5%	5.53B YoY-10.2%
Other non-current assets	1.10B YoY+0.4%	1.10B YoY-4.9%	1.15B YoY+2.7%	1.12B YoY+11.7%	1.00B YoY+10.9%
	2.58B YoY+5.4%	2.45B YoY-14.2%	2.86B YoY+21.2%	2.36B YoY-32.0%	3.47B YoY+35.6%
Accounts payable	303M YoY+55.7%	195M YoY-52.6%	411M YoY+16.0%	354M YoY+15.5%	307M YoY+8.7%
Accrued liabilities	835M YoY+18.1%	707M YoY-12.1%	804M YoY+38.0%	582M YoY+8.6%	536M YoY-31.9%
Short-term & current debt	587M YoY-32.0%	863M YoY-4.1%	900M YoY+65.3%	544M YoY-66.1%	1.61B YoY+221.0%
Current lease liability	57.5M YoY+8.1%	53.2M YoY+0.6%	52.9M YoY-0.2%	53.0M YoY-6.5%	56.7M YoY-7.0%
Other current liabilities	1.22B YoY-12.7%	1.39B YoY-9.9%	1.55B YoY+8.8%	1.42B YoY+7.9%	1.32B YoY-12.9%
	10.4B YoY+16.8%	8.89B YoY-1.3%	9.01B YoY-0.3%	9.04B YoY-16.2%	10.8B YoY-11.7%
Long-term debt	6.93B YoY+29.8%	5.34B YoY+9.7%	4.87B YoY-5.5%	5.15B YoY-5.7%	5.46B YoY-28.4%
Non-current lease liability	176M YoY-7.7%	190M YoY+9.1%	174M YoY+4.2%	167M YoY-4.3%	175M YoY+5.9%
Deferred tax liabilities	244M YoY-30.8%	353M YoY-1.4%	358M YoY-24.7%	475M YoY-15.0%	559M YoY-10.8%
Other non-current liabilities	626M YoY-15.9%	744M YoY-19.6%	926M YoY+46.3%	633M YoY+15.3%	549M YoY-7.6%
	12.7B YoY+1.8%	12.5B YoY-0.1%	12.5B YoY+3.8%	12.0B YoY-5.1%	12.7B YoY+3.8%
Common stock	3.20M YoY+0.0%	3.20M YoY+0.0%	3.20M YoY+3.2%	3.10M YoY+0.0%	3.10M YoY+0.0%
Additional paid-in capital	10.2B YoY+1.4%	10.0B YoY+2.0%	9.85B YoY+3.6%	9.50B YoY+2.0%	9.31B YoY+2.1%
Retained earnings	11.6B YoY+4.6%	11.1B YoY+6.8%	10.4B YoY+8.6%	9.56B YoY-7.1%	10.3B YoY+2.0%
Treasury stock	8.89B YoY+5.8%	8.41B YoY+11.2%	7.56B YoY+10.1%	6.87B YoY+2.2%	6.72B YoY-0.0%
Accumulated other comprehensive income	-206M YoY+21.7%	-263M YoY-37.6%	-191M YoY-6.5%	-179M YoY+22.6%	-232M YoY+22.2%
Non-controlling interest	8.10M YoY+0.0%	8.10M YoY+5.2%	7.70M YoY+14.9%	6.70M YoY+17.5%	5.70M YoY+9.6%
Total equity incl. non-controlling	12.7B YoY+1.8%	12.5B YoY-0.1%	12.5B YoY+3.8%	12.0B YoY-5.0%	12.7B YoY+3.8%
Total liabilities & equity	23.1B YoY+8.1%	21.4B YoY-0.6%	21.5B YoY+2.0%	21.1B YoY-10.2%	23.5B YoY-3.9%
Common shares issued	319M YoY+0.4%	318M YoY+0.4%	316M YoY+0.8%	314M YoY+0.3%	313M YoY+0.4%
Shares outstanding (cover)	198M YoY-0.4%	199M YoY-4.7%	209M YoY-0.4%	210M YoY+0.5%	209M YoY+0.8%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.70B YoY+13.2%	1.50B YoY-5.2%	1.58B YoY+16.6%	1.36B YoY-9.5%	1.50B YoY+24.5%
Depreciation & amortization	1.09B YoY+9.8%	996M YoY+4.7%	952M YoY+2.7%	926M YoY-1.2%	938M YoY+4.4%
Share-based compensation	90.2M YoY-10.7%	101M YoY+1.2%	99.8M YoY-5.0%	105M YoY+38.2%	76.0M YoY+3.0%
Deferred income taxes	-87.2M YoY-82.8%	-47.7M YoY+50.5%	-96.3M YoY-49.5%	-64.4M YoY+36.9%	-102M YoY-359.1%
Change in inventory	-98.2M YoY-96.8%	-49.9M YoY-120.8%	240M YoY+218.0%	75.6M YoY+800.0%	8.40M YoY-75.7%
	-1.98B YoY-122.5%	-888M YoY-14.0%	-779M	—	-504M YoY+18.0%
Capital expenditure	225M YoY+10.2%	204M YoY-30.0%	291M YoY+54.9%	188M YoY+30.8%	144M YoY+28.3%
Other investing activities	4.60M YoY-87.5%	36.9M YoY+228.1%	-28.8M YoY-180.7%	35.7M YoY+82.1%	19.6M YoY-1.0%
	326M YoY+167.3%	-485M YoY+36.5%	-764M	—	-1.31B YoY-209.6%
Common stock repurchased	487M YoY-43.9%	868M YoY+25.4%	692M YoY+447.6%	126M	—
Dividends paid	190M YoY-2.9%	196M YoY-2.4%	201M YoY-0.1%	201M YoY+0.5%	200M YoY+0.8%
Other financing activities	-17.7M YoY+21.0%	-22.4M YoY-121.8%	-10.1M YoY-124.4%	-4.50M YoY+28.6%	-6.30M YoY+24.1%
Net change in cash	66.4M YoY-39.5%	110M YoY+173.6%	40.1M YoY+139.0%	-103M YoY+68.2%	-324M YoY-275.7%
Interest paid	298M YoY+48.6%	201M YoY+0.1%	201M YoY+24.1%	162M YoY-26.2%	219M YoY+13.4%
Income taxes paid	377M YoY+14.7%	329M YoY+52.6%	215M YoY-34.1%	327M YoY+26.4%	258M YoY+82.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	17.8B YoY-15.3%	21.0B YoY-17.3%	25.4B YoY-4.9%	26.8B YoY+3.8%	25.8B YoY-16.9%
P/E	25.3× YoY+8.6%	23.3× YoY-56.6%	53.6× YoY-44.3%	96.3× YoY+50.0%	64.2×
P/S	2.2× YoY-20.9%	2.7× YoY-21.6%	3.5× YoY-10.0%	3.9× YoY+2.8%	3.8× YoY-14.5%
P/B	1.4× YoY-16.8%	1.7× YoY-17.0%	2.0× YoY-7.0%	2.2× YoY+7.4%	2.0× YoY-20.0%
P/FCF	12.1× YoY-25.4%	16.2× YoY-39.6%	26.9× YoY+31.1%	20.5× YoY+7.9%	19.0× YoY-33.0%
Earnings yield	4.0% YoY-7.9%	4.3% YoY+130.5%	1.9% YoY+79.5%	1.0% YoY-33.4%	1.6%
FCF yield	8.3% YoY+34.1%	6.2% YoY+65.7%	3.7% YoY-23.7%	4.9% YoY-7.3%	5.3% YoY+49.3%
Dividend yield	1.1% YoY+17.5%	0.9% YoY+15.2%	0.8% YoY+4.8%	0.8% YoY-3.3%	0.8% YoY+21.3%
Source filing	10-K	10-K	10-K	10-K	8-K

About this data

Source: ZBH's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ZBH filings on SEC EDGAR → Not investment advice.

ZBH▼ financial statements

About this data

financial statements