Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Zimmer Biomet

ZBH stock analysis · Health Care · Health Care Equipment

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$86.09HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$16.7B

Price × SEC outstanding shares. Shares measured 2026-04-23. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$115.61

Equity cash-flow scenario · SEC outstanding shares at 2026-04-23 · 34.3% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

-1.9%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

19.9%

14 industry peers · median 28.3×

How this is calculated ↗
Valuation

Historical multiples

25.9×

6 annual observations · snapshot P/E 23.6× · -8.9% versus history

How this is calculated ↗
Valuation

Free cash flow yield

8.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

4.6%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

84/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

8.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-4.5%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

1.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 1.7B2020-12-31: cfo $1,204,500,000.002020-12-31: capex $111,900,000.0020202021-12-31: cfo $1,499,200,000.002021-12-31: capex $143,600,000.0020212022-12-31: cfo $1,356,200,000.002022-12-31: capex $187,900,000.0020222023-12-31: cfo $1,581,600,000.002023-12-31: capex $291,100,000.0020232024-12-31: cfo $1,499,400,000.002024-12-31: capex $203,800,000.0020242025-12-31: cfo $1,697,100,000.002025-12-31: capex $224,500,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$145.01$158.22$172.42
10.0%$106.26$115.61$125.65
12.0%$83.83$90.97$98.62

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-318.2B705.1M1.7B224.5M23.1B
2024-12-317.7B905.3M1.5B203.8M21.4B
2023-12-317.4B1B1.6B291.1M21.5B
2022-12-316.9B232.4M1.4B187.9M21.1B
2021-12-316.8B402.1M1.5B143.6M23.5B
2020-12-316.1B-137.4M1.2B111.9M24.4B
2019-12-318B1.1B1.6B207.1M24.6B
2018-12-317.9B-379.3M1.7B162.7M24.1B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue8.2BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-20
netIncome705.1MProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent/common earnings proxy705.1MNetIncomeLoss2026-02-20
cfo1.7BNetCashProvidedByUsedInOperatingActivities2026-02-20
capex224.5MPaymentsToAcquirePropertyPlantAndEquipment2026-02-20
operatingIncome1.1BOperatingIncomeLoss2026-02-20
assets23.1BAssets2026-02-20
equity12.7BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy12.7BStockholdersEquity2026-02-20
debt7.5BLongTermDebtCurrent + LongTermDebtNoncurrent2026-02-20
shortDebtNot reported under a supported tag
cash591.9MCashAndCashEquivalentsAtCarryingValue2026-02-20
shares198.7MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends190.3MPaymentsOfDividendsCommonStock2026-02-20
buybacks487MPaymentsForRepurchaseOfCommonStock2026-02-20
issuanceNot reported under a supported tag