Zimmer Biomet Holdings, Inc. (ZBH) Stock

Zimmer Biomet Holdings, Inc. (ZBH) is a Healthcare stock trading at $98.98 (as of 2026-08-20), with a market capitalization of $19.15B and a trailing P/E of 25.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Zimmer Biomet Holdings, together with its subsidiaries, develops, manufactures, and markets musculoskeletal healthcare products for treating disorders and injuries affecting bones, joints, and supporting soft tissues. Its offerings span orthopaedic reconstructive (e.g., knee and hip), S.E.T., spine, face and skull reconstruction, chest fixation and stabilization, and dental, serving orthopedic and related surgeons, dentists, hospitals, distributors, and healthcare dealers across multiple regions.

Understand Zimmer Biomet Holdings, Inc.: how it makes money

Zimmer Biomet designs, manufactures, and markets musculoskeletal orthopaedic products (such as knee and hip systems, sports medicine, spine devices, and face and skull reconstruction products), and makes money from net sales of these implants and related surgical products.

The profit engine appears to be adoption and share in core implants (for example, hip triple play share and Z1 utilization), supported by pricing (Consolidated pricing), with inventory efficiency (Days on hand) influencing cost and operating performance.

Revenue by segment (latest quarter)
US	$1.1B
Intl	$0.9B

Business quality (Mixed): Clear operating drivers are visible in product adoption, pricing, and inventory metrics, but the bear case can hinge on weaker competitive conversion, pricing pressure, and higher inventory days.

Valuation: At 24× earnings, ZBH trades 27% below the Medical Equipment average (32×). Note: one-time items can distort reported P/E.

Bull case

Product adoption/share metrics suggest strength in hip systems, including Hip triple play share of U.S. hip stems (40.0 percent): Higher adoption and share are typically important for steady implant volumes.
Pricing is monitored via Consolidated pricing (0.6 ratio): If pricing trends hold up, they can support operating margins in addition to volume.

Bear case

Competitive conversion is a key risk area, reflected by Z1 adoption conversion share from competitive offerings (50.0 percent): If conversion weakens, share and implant demand could be pressured.
Inventory management can affect operations, shown by Days on hand (375.0 count) and Days on hand reduction (20.0 count): If Days on hand rises or reduction slows, it can increase costs and strain working capital.
Pricing direction matters, and Consolidated pricing is measured as a ratio (0.6): Any deterioration in pricing could weigh on operating performance.

Valuation — source: SEC EDGAR (first-party)
Price	$98.98
Market Cap	$19.15B
P/E Ratio	25.2
EV / EBITDA	11.4
Price / Book	1.51
Price / Sales	2.28
FCF Yield	7.6%
DCF Value (model)	$4.27
DCF Upside vs Price	-95.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$8.23B
Net Margin	8.6%
Revenue Growth (YoY)	9.3%
EPS Growth (YoY)	32.6%
FCF Growth (YoY)	-4.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.47 (grey)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	25.2
Sector P/E (Healthcare)	21.6
Industry P/E (Medical Equipment)	32.9
vs Sector	16.5%
vs Industry	-23.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Dodge & Cox ($2.13B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	Ivan Tornos
Employees	17,000
Country	US
IPO Date	2001-07-25

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.