Filing Flows › Zimmer Biomet Holdings (ZBH) › Q3 2025
Zimmer Biomet Holdings (ZBH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Zimmer Biomet Holdings (ZBH) reported revenue of $2.0B for the third quarter 2025 (Q3 2025), +10% from a year earlier and -4% from the quarter before. Operating margin was 17.6%, net earnings $231M (11.6% of revenue).
Zimmer Biomet Holdings, Q3 2025: revenue $2.0B (+10% year over year), operating margin 17.6%, net earnings $231M, operating cash flow $419M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | -4% | +10% |
| Operating profit | $351M | +17% | +26% |
| Net earnings | $231M | +51% | -7% |
| Operating cash flow | $419M | +11% | +6% |
| Free cash flow | $278M | — | — |
What changed
Revenue was $2.0B in Q3 2025, up 10% year over year and down 4% from the previous quarter. Knees was the largest line at 40% of revenue. SET added $0.09B year over year (up 19%), 49% of the total change.
Operating profit was $0.35B, a 17.6% margin (up 2.2 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 15% margin then. Total costs grew 7% against revenue growth of 10%. The fastest-growing cost line was SG&A (+14%). Net earnings were $0.23B, down 7% year over year. The effective tax rate was 17.2%.
Operating cash flow was $0.42B (up 6% year over year), 181% of net earnings. Non-cash charges added back $0.28B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.12B. After itions to instruments ($0.09B) and itions to other property, plant and equipment ($0.06B), free cash flow as the company reports it was $0.28B.
Questions
What was Zimmer Biomet Holdings' revenue in the third quarter 2025?
Zimmer Biomet Holdings (ZBH) reported revenue of $2.0B for the third quarter 2025 (Q3 2025), +10% from a year earlier and -4% from the quarter before.
Was Zimmer Biomet Holdings profitable in the third quarter 2025?
Operating profit was $351M (17.6% of revenue) and net earnings $231M.