Smith & Nephew vs Zimmer Biomet
Zimmer Biomet reported revenue of $8.2 billion in fiscal 2025, 1.3 times Smith & Nephew's $6.2 billion in fiscal 2025. Smith & Nephew's revenue grew 6.1% in its latest year, and Zimmer Biomet's grew 7.2%. Smith & Nephew had an operating margin of 12.9%, against 13.3% at Zimmer Biomet. Free cash flow was $852 million at Smith & Nephew and $1.5 billion at Zimmer Biomet.
Side by side
| Smith & Nephew | Zimmer Biomet | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $6.2B | $8.2B |
| Revenue growth | 6.1% | 7.2% |
| Revenue growth a year, last 5 years | 6.2% | 6.1% |
| Gross margin | 68.0% | 69.7% |
| Operating margin | 12.9% | 13.3% |
| Net margin | 10.1% | 8.6% |
| Free cash flow | $852M | $1.5B |
| Free cash flow margin | 13.8% | 17.9% |
| Return on capital | — | 4.9% |
| Net debt to EBITDA | — | 3.2x |
| Dividends and buybacks | $832M | $677M |
| Change in diluted share count | −0.3% | −2.5% |
| Last close | $30.47 | $97.44 |
| P/E at the last close | — | 23.7× |
| Insider trades, last 12 months | — | sold $1.6 million |
| Piotroski F-score | — | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Smith & NephewZimmer Biomet
Operating margin
Percent of revenue
Smith & NephewZimmer Biomet
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Smith & NephewZimmer Biomet
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Smith & Nephew and Zimmer Biomet pages.