Zimmer Biomet Holdings, Inc. (ZBH)
Health Care · Health Care Equipment · US stock · S&P 500 component
$94.98
▲ +0.60 (0.64%)
Fair valueFair
$99 +4.7% to fair value
$50fair band $70–$129$149
Day's range
$94.24 – $95.91
52-week range
$78.70 – $105.75
About Zimmer Biomet Holdings, Inc.
Knee and hip replacement implants sit at the centre of what Zimmer Biomet designs, manufactures and markets for treating bone and joint conditions. It also supplies sports medicine, trauma and shoulder products, together with surgical instruments and robotic systems that guide surgeons during operations. Its customers are hospitals, surgery centres and the orthopaedic surgeons who work in them, and it serves them through regional commercial teams around the world.
The company earns money from implants, instruments and related surgical technology that hospitals purchase for procedures. Revenue was $8.5 billion over the last twelve months, with growth of 5.9% a year across the last three years, and the operating margin is 14.2%. The business earns a profit of 5% on the capital invested in it, while net debt is 3.1 times EBITDA. It pays a dividend with a yield of 1.0%. On the site's X-Ray Score it receives 53 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $78.70 – $105.75Volume 1,935,300Daily, split-adjusted
Vitals
Market cap$18.3B
52-week range$78.70 – $105.75
Volume (last day)1,935,300
P/E (TTM)23.1
EBIT / EV yield4.7%
Free-cash-flow yield8.3%
Dividend yield1.0%
Revenue (TTM)$8.5B
Net income (TTM)$807M
Operating margin14.2%
Return on capital5.3%
Debt incl. leases$7.5B
Cash & securities$410M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$99model spread $95 – $104
Fair
+4.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $95
Undervalued < $70Fair $70 – $129Overvalued > $129
10-year DCF (market-scaled)
$64
Peer multiples
$116
Earnings power floor (not blended)
$24
Fundamentals-adjusted multiple
$119
Growth the price implies
14.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Valuation
Fair
67/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.7%
Free-cash-flow yield8.3%
Fair value vs price1.0×
Growth
Fair
66/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)5.9%
EPS growth (3y)47.8%
Growth consistency100%
Profitability
Weak
40/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital5.3%
Operating margin14.2%
Gross profitability26.1%
Financial health
Weak
49/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA3.1×
Interest coverNo interest cost
Dividends
Weak
35/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.0%
Dividends vs free cash flow12%
Dividend growth-1.8%
Quarterly results: last 6 quarters
+1.1%
Mar '25
+7.0%
Jun '25
+9.7%
Sep '25
+10.9%
Dec '25
+9.3%
Mar '26
+4.8%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.2B, diluted EPS $1.03.
Compare with peers
RMD Resmed Inc73 DXCM Dexcom Inc71 PODD Insulet Corp69 IDXX Idexx Laboratories Inc67Other Health Care Equipment companies by X-Ray Score.
Fundamentals checklist
● 4 Good · ● 9 Average · ● 2 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldGood
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Good
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 57/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $6.8B | $6.9B | $7.4B | $7.7B | $8.2B |
| Operating income | $860M | $696M | $1.3B | $1.3B | $1.1B |
| Net income | $402M | $231M | $1.0B | $904M | $705M |
| Operating cash flow | $1.5B | – | $1.6B | $1.5B | $1.7B |
| Operating margin | 12.6% | 10.0% | 17.3% | 16.7% | 13.3% |
| Free cash flow | $1.4B | – | $1.3B | $1.3B | $1.5B |
| Diluted EPS | $1.91 | $1.10 | $4.88 | $4.43 | $3.55 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 1 neutral · 5 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Neutral
4 bullish · 1 neutral · 3 bearish
Moving averages (daily)
| SMA 10 | 91.31 | Bullish |
| EMA 10 | 92.08 | Bullish |
| SMA 20 | 90.98 | Bullish |
| EMA 20 | 92.06 | Bullish |
| SMA 50 | 95.09 | Bearish |
| EMA 50 | 93.00 | Bullish |
| SMA 100 | 92.21 | Bullish |
| EMA 100 | 92.60 | Bullish |
| SMA 200 | 90.94 | Bullish |
| EMA 200 | 92.49 | Bullish |
Oscillators (daily)
| RSI (14) | 57.65 | Neutral |
| MACD (12, 26) | -0.42 | Bearish |
| Momentum (12) | 6.92 | Bullish |
| Stochastic %K (14) | 89.43 | Bearish |
| Williams %R (14) | -10.57 | Bearish |
| CCI (20) | 169.2 | Bearish |
Pivot points (classic, last session)
S3 92.51 | S2 93.37 | S1 94.18 | Pivot 95.04 | R1 95.85 | R2 96.71 | R3 97.52 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.96 USD
Yield on today's price
1.01%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 30 Sep 2026 | 0.2400 |
| 25 Jun 2026 | 0.2400 |
| 31 Mar 2026 | 0.2400 |
| 30 Dec 2025 | 0.2400 |
| 30 Sep 2025 | 0.2400 |
| 26 Jun 2025 | 0.2400 |
| 31 Mar 2025 | 0.2400 |
| 30 Dec 2024 | 0.2400 |
| 30 Sep 2024 | 0.2400 |
| 26 Jun 2024 | 0.2400 |
| 27 Mar 2024 | 0.2400 |
| 26 Dec 2023 | 0.2400 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ZBH SEC filings
8 Sep 2026
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
5 Aug 2026
8-KSEC EDGAR
Other events
5 Aug 2026
10-QSEC EDGAR
Quarterly report
5 Aug 2026
8-KSEC EDGAR
Results of operations
29 Jun 2026
8-KSEC EDGAR
Entered a material agreement
27 May 2026
8-KSEC EDGAR
Shareholder vote results
12 May 2026
8-KSEC EDGAR
Regulation FD disclosure
1 May 2026
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.