# Zimmer Biomet Holdings, Inc. (ZBH) — Stock CV

Zimmer Biomet Holdings, Inc. is a $17.0B healthcare company. Revenue grew 8.6% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~4.2 years of free cash flow. It trades at 21.5× earnings — near the lowest of its own history.

> Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan.

## Identity

- **Ticker**: ZBH
- **Sector**: Healthcare
- **Industry**: Orthopedic, Prosthetic & Surgical Appliances & Supplies
- **Headquarters**: WARSAW, IN
- **Employees**: 17 000
- **Website**: https://www.zimmerbiomet.com
- **Market cap**: $17.0B
- **Last price**: $89.00
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $8.51B
- **Net income**: $807M
- **Free cash flow**: $1.52B
- **Net debt**: $6.34B
- **P/E**: 21.5
- **Revenue growth (YoY)**: 8.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 90 |
| Growth | 51 |
| Profitability | 35 |
| Health | 58 |
| Quality | 77 |
| Moat | 55 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +8.6% YoY
- [x] Profitable — $807M TTM
- [x] Profit growing — +47.8% YoY
- [x] Generates cash — $1.52B TTM
- [x] Debt under control — ~4.2y of cash flow to repay
- [x] Established company — $17.0B market cap
- [x] Not printing shares — -4.0% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [x] Financially stable — Altman Z 2.2 — grey
- [x] Pays a dividend — yield 1.09%
- [x] Valuation not extreme — P/E 21.5

## Experience (career milestones)

- **2026** — Zimmer Biomet acquired the iovera pain therapy business from Pacira BioSciences Inc
- **Oct 7, 2025** — Zimmer Biomet completed its acquisition of Monogram Technologies Inc
- **2024** — Zimmer introduced the ROSA Shoulder, said to be the world's first robotic surgery system for shoulder…
- **2023** — The company announced its intention to acquire Embody, Inc
- **FY2017** — Best year on record: $1.81B net income
- **FY2016** — First recorded profitable year: $306M net income
- **FY2016** — Revenue already above $1B: $7.68B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **Jun 29, 2015** — The company changed the ticker symbol to "ZBH" to reflect its acquisition of Biomet
- **Jun 24, 2015** — European Commission (“EC”) conditionally cleared Zimmer's proposed acquisition of Biomet, Inc
- **2012** — The company acquired Reno, Nevada-based Synvasive Technology, Inc
- **2011** — The company acquired ExtraOrtho, Inc. (ExtraOrtho)
- **2001** — Zimmer was spun off from Bristol Myers Squibb and began trading on the New York Stock Exchange, on August…
- **1927** — It was founded in 1927 to produce aluminum splints

## Strengths

- High gross margin (69.9%)
- Strong cash conversion — FCF is 17.9% of revenue

## Watch-outs

- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $7.84B | $402M | $1.33B |
| FY2022 | $6.94B | $231M | $1.17B |
| FY2023 | $7.39B | $1.02B | $979M |
| FY2024 | $7.68B | $904M | $1.30B |
| FY2025 | $8.23B | $705M | $1.47B |

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Source: https://stockcv.com/ZBH — derived from company filings; may be delayed or incomplete. Information, not investment advice.