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Smith & Nephew vs Zimmer Biomet Holdings: SNN and ZBH compared
Smith & Nephew is the larger company: $3.1B of revenue in its latest quarter (H1 2026) against $2.1B for Zimmer Biomet Holdings (Q3 2026). Smith & Nephew is growing faster (+5% against +3% a year earlier). Zimmer Biomet Holdings is more profitable, with an operating margin of 14.9% against 14.5%.
Where the money goes: SNN and ZBH
Smith & Nephew (SNN) · H1 2026
Smith & Nephew, H1 2026: revenue $3.1B (+5% year over year), operating margin 14.5%, net earnings $303M, operating cash flow $450M. The chart follows the revenue to costs, profit and cash.
Zimmer Biomet Holdings (ZBH) · Q3 2026
Zimmer Biomet Holdings, Q3 2026: revenue $2.1B (+3% year over year), operating margin 14.9%, net earnings $193M, operating cash flow $560M. The chart follows the revenue to costs, profit and cash.
| Smith & Nephew (SNN) | Zimmer Biomet Holdings (ZBH) | |
|---|---|---|
| Latest quarter | H1 2026 | Q3 2026 |
| Revenue | $3.1B | $2.1B |
| Revenue growth, Y/Y | +5% | +3% |
| Gross margin | 70.9% | — |
| Operating margin | 14.5% | 14.9% |
| Net earnings | $303M | $193M |
| Net margin | 9.8% | 9.4% |
| Operating cash flow | $450M | $560M |
| Free cash flow | — | $372M |
| Market value | — | $20.3B |
| P/E | — | 26.8× |
| Analysts’ mean target | — | $115.62 |
Where the revenue comes from
Zimmer Biomet Holdings
- Knees: $768M (37%)
- SET: $578M (28%)
- Hips: $536M (26%)
- Technology and Data Bone Cement and Surgical: $181M (9%)
Questions
Which is bigger, Smith & Nephew or Zimmer Biomet Holdings?
Smith & Nephew is the larger company: $3.1B of revenue in its latest quarter (H1 2026) against $2.1B for Zimmer Biomet Holdings (Q3 2026).
Is Smith & Nephew or Zimmer Biomet Holdings growing faster?
Smith & Nephew is growing faster (+5% against +3% a year earlier).
Which is more profitable, Smith & Nephew or Zimmer Biomet Holdings?
Zimmer Biomet Holdings is more profitable, with an operating margin of 14.9% against 14.5%.
More: Smith & Nephew earnings · how Smith & Nephew makes money · Zimmer Biomet Holdings earnings · how Zimmer Biomet Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Aug 14, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.