Filing Flows › Zimmer Biomet Holdings (ZBH) › Q4 2025
Zimmer Biomet Holdings (ZBH) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Zimmer Biomet Holdings (ZBH) reported revenue of $2.2B for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before. Operating margin was 6.9%, net earnings $138M (6.1% of revenue).
Zimmer Biomet Holdings, Q4 2025: revenue $2.2B (+11% year over year), operating margin 6.9%, net earnings $138M, operating cash flow $517M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +12% | +11% |
| Operating profit | $154M | -56% | -60% |
| Net earnings | $138M | -40% | -43% |
| Operating cash flow | $517M | +24% | +2% |
| Free cash flow | $368M | — | — |
What changed
Revenue was $2.2B in Q4 2025, up 11% year over year and up 12% from the previous quarter. Knees was the largest line at 41% of revenue.
Operating profit was $0.15B, a 6.9% margin (down 12.3 points year over year). Operating profit fell $0.23B even though revenue rose $0.22B versus a year earlier, so costs grew faster than sales. Total costs grew 28% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+59%). Net earnings were $0.14B, down 42% year over year. The effective tax rate was -40.7%.
Operating cash flow was $0.52B (up 2% year over year), 375% of net earnings. Non-cash charges added back $0.28B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.07B. After itions to other property, plant and equipment ($0.07B) and itions to instruments ($0.07B), free cash flow as the company reports it was $0.37B.
Questions
What was Zimmer Biomet Holdings' revenue in the fourth quarter 2025?
Zimmer Biomet Holdings (ZBH) reported revenue of $2.2B for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before.
Was Zimmer Biomet Holdings profitable in the fourth quarter 2025?
Operating profit was $154M (6.9% of revenue) and net earnings $138M.