TORVANTA
Health Care · S&P 500 · data as of 2026-10-05

ZBH stock analysis: Zimmer Biomet

Zimmer Biomet (ZBH) is an S&P 500 company in Health Care Equipment. It grades weakest on momentum.

The model's view of ZBH · subscribers

Where ZBH ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with ZBH · updated 2026-10-05 · from prices and SEC filings

ZBH price performance

ZBH against the S&P 500, one year
-20%+0%+20%S&P 500 +18%ZBH -6%2025-09-292026-10-05
Year to date+2.6%S&P 500 +14.5% · behind by 11.9 pts
1 year-8.2%S&P 500 +17.0% · behind by 25.2 pts
3 years-13.8%S&P 500 +89.3% · behind by 103.1 pts
5 years-32.5%S&P 500 +91.3% · behind by 123.8 pts

Total returns with dividends reinvested.

ZBH factor grades

Each grade compares ZBH with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

BValueP/E 22.2x (industry 28.8x)FCF yield 8.7% (industry 4.4%)
CGrowthRevenue growth +9% (industry +9%)EPS growth +0% (industry +11%)
CProfitabilityOperating margin 14.2% (industry 18.5%)ROIC 5.3% (industry 11.1%)
C-Momentum12-month change -8%From 52-wk high -11%

ZBH in plain numbers

ZBH key statistics

SectorHealth Care
IndustryHealth Care Equipment
IndexS&P 500
Market value$17.5B
Revenue growth (y/y)+9%
Free-cash-flow yield8.7%
Dividend yield1.1%
Next earnings (expected)2026-11-04
Valuation measures
Market value$17.5B
Enterprise value$24.5B
P/E (trailing)22.2x
Forward P/E (Torvanta estimate)20.5x
PEG (Torvanta estimate)2.38
Price / sales2.1x
Price / book1.4x
EV / revenue2.9x
EV / EBITDA10.6x
Financial highlights
Revenue, last 12 months$8.5B
Net income, last 12 months$806.6M
EPS, last 12 months (GAAP)$4.12
Gross margin69.9%
Operating margin14.2%
Net margin9.5%
Return on equity6.4%
Return on invested capital5.3%
Cash$410.0M
Total debt$7.5B
Debt / equity0.59x
Free cash flow, last 12 months$1.5B
Current ratio1.69x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

ZBH earnings trends

Revenue vs earnings
$0$561.0M$1.1B$1.7B$2.2BSep 2024 Revenue: $1.8BDec 2024 Revenue: $2.0BMar 2025 Revenue: $1.9BJun 2025 Revenue: $2.1BSep 2025 Revenue: $2.0BDec 2025 Revenue: $2.2BMar 2026 Revenue: $2.1BJun 2026 Revenue: $2.2BSep 2024 Net income: $249.1MDec 2024 Net income: $239.5MMar 2025 Net income: $182.0MJun 2025 Net income: $152.8MSep 2025 Net income: $230.9MDec 2025 Net income: $139.3MMar 2026 Net income: $238.1MJun 2026 Net income: $198.3MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 13.7%Net margin: 11.8%Net margin: 9.5%Net margin: 7.4%Net margin: 11.5%Net margin: 6.2%Net margin: 11.4%Net margin: 9.1%0%7%14%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.3$0.6$0.9$1.2Sep 2024 EPS (GAAP, diluted): $1.2Dec 2024 EPS (GAAP, diluted): $1.2Mar 2025 EPS (GAAP, diluted): $0.9Jun 2025 EPS (GAAP, diluted): $0.8Sep 2025 EPS (GAAP, diluted): $1.2Dec 2025 EPS (GAAP, diluted): $0.7Mar 2026 EPS (GAAP, diluted): $1.2Jun 2026 EPS (GAAP, diluted): $1.0Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -6% · Dec 2025 -40% · Mar 2026 +34% · Jun 2026 +34%

From the company's 10-Q and 10-K filings with the SEC.

Zimmer Biomet financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$7.8B$6.9B$7.4B$7.7B$8.2B
Net income$401.6M$231.4M$1.0B$903.8M$705.0M
EPS (GAAP)$1.90$1.10$4.88$4.44$3.55
Free cash flow$1.3Bn/a$1.3B$1.3B$1.5B

ZBH earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-05$1.03+34%+5%+1.8%
2026-04-28$1.22+34%+9%-13.0%
2026-02-10$0.71-40%+11%+6.8%
2025-11-05$1.16-6%+10%-13.5%
2025-08-07$0.77-35%+7%+8.2%
2025-05-05$0.91+8%+1%-8.5%

About Zimmer Biomet

HeadquartersWarsaw, IN
Industry (SEC code)Orthopedic, Prosthetic & Surgical Appliances & Supplies
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyZIMMER HOLDINGS INC

From the company's SEC registration record.

Companies similar to ZBH

CompanyMarket valueP/ERevenue growthOperating margin12-month change
ZBH Zimmer Biomet$17.5B22.2x+9%14.2%-8%
RVTY Revvity$17.6B75.3x+4%12.3%+68%compare
STE Steris$20.6Bn/a+8%18.9%-12%compare
BAX Baxter$12.5Bn/a+5%-2.4%+2%compare
GEHC GE HealthCare$29.9B15.7x+6%12.6%-14%
RMD ResMed$32.1B21.4x+10%33.4%-19%
PODD Insulet$9.4B25.4x+29%16.9%-56%

All Health Care stock ratings

Frequently asked questions

Is ZBH stock a buy?

Torvanta does not tell individuals what to buy. Its grades for ZBH are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is ZBH's P/E ratio?

ZBH trades at about 22.2 times its last 12 months of GAAP earnings reported to the SEC, and about 20.5 times Torvanta's own estimate of the next 12 months.

When does ZBH report earnings next?

Based on its filing history, Torvanta expects Zimmer Biomet to report around 2026-11-04.

Does ZBH pay a dividend?

Yes. Its dividend yield is about 1.1%.

How has ZBH performed against the S&P 500?

Over the past year ZBH returned -8.2%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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