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Zimmer Biomet Holdings logo
Zimmer Biomet Holdings ZBH
$ 107.39 -0.91%
report update icon

Quarterly report 2026-Q3
added 11-04-2026

Zimmer Biomet Holdings Balance Sheet 2025-2006 | ZBH

Brief overview of Zimmer Biomet Holdings's financial position

The balance sheet is assessed across five available annual reports spanning 2021 to 2025.

The size of the balance sheet remained broadly stable, moving from $23.5 billion to $23.1 billion. There was no meaningful expansion.

Assets and liabilities changed at similar rates, -1.6% and -3.7%. The funding mix did not shift sharply.

Internal capital represents 55% of the balance sheet, previously 54%. This is a strong capital position.

Each unit of equity supports about 0.5x of net debt. Dependence on debt remains comfortable.

Cash represents 2.6% of assets versus 1.6% initially, showing how the immediate liquidity reserve changed.

Accumulated earnings ended at $11.6 billion, a change of +12.8%. They remain an important part of the capital base.

What the balance sheet shows

Zimmer Biomet Holdings retains a reasonably healthy balance sheet structure, which still needs support from earnings and cash flow.

Annual Balance Sheet Zimmer Biomet Holdings

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

Net Debt

6.4 B 4.87 B 4.5 B 4.83 B 5.14 B 6.91 B 7.6 B 8.38 B 9.6 B 10.6 B 10.1 B 342 M 583 M 903 M 951 M 473 M 436 M 248 M - -

Long Term Debt

6.93 B 5.34 B 4.87 B 5.15 B 5.46 B 7.63 B 6.72 B 8.4 B 8.89 B 10.6 B 11.5 B 1.43 B 1.66 B 1.69 B 1.58 B 1.14 B 1.13 B 460 M - -

Long Term Debt Current

57.5 M 53.2 M 52.9 M 53 M 56.7 M 61 M 64.2 M 525 M 1.22 B 576 M - - - - - - - - - -

Total Non Current Liabilities

7.8 B 6.44 B 6.15 B 6.68 B 7.32 B 9.66 B 8.8 B 10.4 B 11.2 B 14.6 B 15.7 B 2.07 B 2.25 B 2.28 B 2.13 B 1.53 B 1.46 B 814 M - -

Total Current Liabilities

2.58 B 2.45 B 2.86 B 2.36 B 3.47 B 2.56 B 3.44 B 2.42 B 3.02 B 2.38 B 1.62 B 1.02 B 1.03 B 866 M 867 M 702 M 691 M 771 M - -

Total Liabilities

10.4 B 8.89 B 9.01 B 9.04 B 10.8 B 12.2 B 12.2 B 12.9 B 14.2 B 17 B 17.3 B 3.11 B 3.28 B 3.15 B 3 B 2.23 B 2.15 B 1.59 B - -

Retained Earnings

11.6 B 11.1 B 10.4 B 9.56 B 10.3 B 10.1 B 10.4 B 9.49 B 10 B 8.47 B 8.35 B 8.36 B 7.71 B 7.09 B 6.43 B 5.7 B 5.1 B 4.39 B - -

Total Assets

23.1 B 21.4 B 21.5 B 21.1 B 23.5 B 24.4 B 24.6 B 24.1 B 26 B 26.7 B 27.2 B 9.66 B 9.58 B 9.01 B 8.52 B 8 B 7.79 B 7.24 B - -

Cash and Cash Equivalents

592 M 526 M 416 M 376 M 378 M 775 M 618 M 543 M 524 M 634 M 1.46 B 1.08 B 1.08 B 884 M 768 M 669 M 692 M 213 M 464 M 266 M

Book Value

12.7 B 12.5 B 12.5 B 12 B 12.7 B 12.2 B 12.4 B 11.3 B 11.7 B 9.67 B 9.89 B 6.55 B 6.3 B 5.87 B 5.51 B 5.77 B 5.64 B 5.65 B - -

Total Shareholders Equity

12.7 B 12.5 B 12.5 B 12 B 12.7 B 12.2 B 12.4 B 11.3 B 11.7 B 9.67 B 9.89 B 6.55 B 6.3 B 5.86 B 5.51 B 5.77 B 5.64 B 5.65 B 5.45 B 4.92 B

All numbers in USD currency

Quarterly Balance Sheet Zimmer Biomet Holdings

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2 2010-Q1 2009-Q4 2009-Q3 2009-Q2

Long Term Debt

6.22 B 6.28 B 6.3 B 176 M 7.51 B 6.75 B 6.58 B 190 M 4.74 B 3.96 B 4.83 B 174 M 5.13 B 5.19 B 5.2 B 167 M 5.06 B 5.17 B 5.29 B 175 M 6.46 B 1 B 7.54 B 218 M 7.84 B 7.76 B 7.72 B 216 M 209 M 205 M 208 M 8.41 B 8.6 B 9.41 B 9.49 B 8.92 B 9.2 B 9.35 B 10.5 B 10.7 B 11 B 10.5 B 11.1 B 11.5 B 11.7 B 11.7 B 9.06 B 98 M 1.43 B 1.69 B 114 M 112 M 119 M 120 M 124 M 139 M 150 M 145 M 1.57 B 1.58 B 1.54 B 1.15 B 1.14 B 1.14 B 1.14 B 1.13 B 1.13 B 1.13 B - -

Total Non Current Liabilities

7.31 B 7.15 B 7.18 B 7.8 B 8.32 B 7.63 B 7.49 B 6.44 B 5.77 B 5.16 B 6.05 B 6.15 B 6.63 B 6.68 B 6.75 B 6.68 B 6.79 B 6.86 B 6.92 B 7.32 B 8.36 B 8.71 B 9.49 B 9.66 B 9.88 B 9.84 B 9.85 B 8.8 B 8.46 B 8.87 B 10.5 B 10.4 B 10.8 B 11.6 B 11.8 B 11.2 B 13 B 13.2 B 14.4 B 14.6 B 15 B 14.3 B 15.1 B 15.7 B 14.9 B 14.9 B 9.71 B 2.08 B 2.04 B 2.23 B 2.22 B 2.25 B 2.41 B 2.4 B 2.27 B 2.28 B 2.2 B 2.22 B 2.08 B 2.13 B 1.92 B 1.55 B 1.54 B 1.53 B 1.48 B 1.49 B 1.45 B 1.46 B 993 M 987 M

Total Liabilities

10.8 B 10.2 B 10 B 10.4 B 10.7 B 10.3 B 9.78 B 8.89 B 9.34 B 8.77 B 8.85 B 9.01 B 8.7 B 8.92 B 9.09 B 9.04 B 9.08 B 9.33 B 9.6 B 10.8 B 11.3 B 11.6 B 11.6 B 12.2 B 12.1 B 12 B 13.6 B 12.2 B 12.2 B 12.5 B 12.7 B 12.9 B 13.2 B 13.4 B 15.2 B 14.3 B 16 B 16.2 B 17.1 B 17 B 17.3 B 16.4 B 16.6 B 17.3 B 16.7 B 17.1 B 10.6 B 3.11 B 3.13 B 3.19 B 3.14 B 3.28 B 3.22 B 3.21 B 3.03 B 3.15 B 2.95 B 2.9 B 2.94 B 3 B 2.59 B 2.23 B 2.25 B 2.23 B 2.18 B 2.09 B 2.11 B 2.15 B 1.67 B 1.66 B

Retained Earnings

12.1 B 12 B 11.8 B 11.6 B 11.5 B 11.3 B 11.2 B 11.1 B 10.9 B 10.7 B 10.5 B 10.4 B 10 B 9.9 B 9.74 B 9.56 B 9.74 B 9.61 B 9.5 B 10.3 B 10.4 B 10.3 B 10.2 B 10.1 B 9.8 B 9.61 B 9.87 B 10.4 B 10.2 B 9.77 B 9.69 B 9.49 B 10.4 B 10.3 B 10.2 B 10 B 8.84 B 8.79 B 8.65 B 8.47 B 8.44 B 8.33 B 8.41 B 8.35 B 8.26 B 8.29 B 8.5 B 8.36 B 8.17 B 8.04 B 7.9 B 7.71 B 7.51 B 7.39 B 7.27 B 7.09 B 6.97 B 6.82 B 6.64 B 6.43 B 6.3 B 6.11 B 5.91 B 5.7 B 5.66 B 5.47 B 5.31 B 5.1 B 4.95 B 4.8 B

Total Assets

23.5 B 22.8 B 22.7 B 23.1 B 23.5 B 22.9 B 22.2 B 21.4 B 21.7 B 21.5 B 21.5 B 21.5 B 21.2 B 21.3 B 21.2 B 21.1 B 21.3 B 21.5 B 21.6 B 23.5 B 24 B 24.2 B 24 B 24.4 B 24 B 23.6 B 25.5 B 24.6 B 24.3 B 24.2 B 24.3 B 24.1 B 25.4 B 25.5 B 27.2 B 26 B 26.4 B 26.5 B 27 B 26.7 B 27 B 26 B 26.3 B 27.2 B 26.7 B 27.2 B 17.2 B 9.66 B 9.67 B 9.64 B 9.38 B 9.6 B 9.36 B 9.1 B 8.74 B 9.01 B 8.78 B 8.62 B 8.6 B 8.52 B 8.2 B 8.25 B 8.12 B 8 B 8 B 7.83 B 7.82 B 7.79 B 7.65 B 7.46 B

Cash and Cash Equivalents

400 M 410 M 424 M 592 M 1.29 B 557 M 1.38 B 526 M 569 M 420 M 393 M 416 M 292 M 320 M 330 M 376 M 545 M 386 M 436 M 378 M 920 M 1.04 B 724 M 802 M 967 M 713 M 2.43 B 618 M 512 M 403 M 587 M 543 M 525 M 481 M 1.77 B 524 M 481 M 450 M 1.04 B 634 M 475 M 976 M 997 M 1.46 B 1.47 B 1.42 B 8.79 B 1.08 B 967 M 969 M 883 M 1.08 B 917 M 710 M 657 M 884 M 802 M 651 M 674 M 768 M 553 M 624 M 576 M 669 M 919 M 954 M 821 M 692 M 440 M 278 M

Book Value

12.7 B 12.6 B 12.7 B 12.7 B 12.8 B 12.5 B 12.4 B 12.5 B 12.4 B 12.7 B 12.6 B 12.5 B 12.5 B 12.4 B 12.2 B 12 B 12.3 B 12.1 B 12 B 12.7 B 12.7 B 12.6 B 12.4 B 12.2 B 11.9 B 11.6 B 11.9 B 12.4 B 12.1 B 11.7 B 11.5 B 11.3 B 12.2 B 12 B 12 B 11.7 B 10.5 B 10.3 B 9.93 B 9.67 B 9.75 B 9.55 B 9.66 B 9.89 B 9.99 B 10.1 B 6.61 B 6.55 B 6.54 B 6.45 B 6.24 B 6.31 B 6.14 B 5.89 B 5.71 B 5.87 B 5.83 B 5.71 B 5.66 B 5.51 B 5.61 B 6.02 B 5.86 B 5.77 B 5.82 B 5.73 B 5.71 B 5.64 B 5.98 B 5.81 B

Total Shareholders Equity

12.7 B 12.6 B 12.7 B 12.7 B 12.8 B 12.5 B 12.4 B 12.5 B 12.4 B 12.7 B 12.6 B 12.5 B 12.5 B 12.4 B 12.2 B 12 B 12.3 B 12.1 B 12 B 12.7 B 12.7 B 12.6 B 12.4 B 12.2 B 11.9 B 11.6 B 11.9 B 12.4 B 12.1 B 11.7 B 11.5 B 11.3 B 12.2 B 12 B 12 B 11.7 B 10.5 B 10.3 B 9.93 B 9.67 B 9.75 B 9.55 B 9.66 B 9.89 B 9.99 B 10.1 B 6.61 B 6.55 B 6.54 B 6.45 B 6.24 B 6.31 B 6.14 B 5.89 B 5.71 B 5.85 B 5.83 B 5.71 B 5.66 B 5.51 B 5.61 B 6.02 B 5.86 B 5.77 B 5.82 B 5.73 B 5.71 B 5.64 B 5.98 B 5.81 B

All numbers in USD currency

Balance Sheet is a fundamental financial report of Zimmer Biomet Holdings, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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