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Zimmer Biomet Holdings vs Edwards Lifesciences: ZBH and EW compared
Zimmer Biomet Holdings is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.7B for Edwards Lifesciences (Q3 2026). Edwards Lifesciences is growing faster (+10% against +3% a year earlier). Edwards Lifesciences is more profitable, with an operating margin of 17.4% against 14.9%.
Where the money goes: ZBH and EW
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.
Edwards Lifesciences (EW) · Q3 2026
Edwards Lifesciences, Q3 2026: revenue $1.7B (+10% year over year), operating margin 17.4%, net earnings $308M, operating cash flow $570M. The chart follows the revenue to costs, profit and cash.
| Zimmer Biomet Holdings (ZBH) | Edwards Lifesciences (EW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.1B | $1.7B |
| Revenue growth, Y/Y | +3% | +10% |
| Gross margin | — | 78.5% |
| Operating margin | 14.9% | 17.4% |
| Net earnings | $193M | $308M |
| Net margin | 9.4% | 17.9% |
| Operating cash flow | $560M | $570M |
| Free cash flow | $372M | $507M |
| Market value | $20.3B | $58.6B |
| P/E | 26.8× | 57.3× |
| Analysts’ mean target | $115.62 | $111.64 |
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%)
Edwards Lifesciences
- Transcatheter Aortic Valve Replacement: $1.2B (72%)
- Surgical: $264M (15%)
- Transcatheter Mitral and Tricuspid Therapies: $210M (12%)
Questions
Which is bigger, Zimmer Biomet Holdings or Edwards Lifesciences?
Zimmer Biomet Holdings is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.7B for Edwards Lifesciences (Q3 2026).
Is Zimmer Biomet Holdings or Edwards Lifesciences growing faster?
Edwards Lifesciences is growing faster (+10% against +3% a year earlier).
Which is more profitable, Zimmer Biomet Holdings or Edwards Lifesciences?
Edwards Lifesciences is more profitable, with an operating margin of 17.4% against 14.9%.
More: Zimmer Biomet Holdings earnings · how Zimmer Biomet Holdings makes money · Edwards Lifesciences earnings · how Edwards Lifesciences makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.