Zimmer Biomet Holdings (ZBH) FY2012 results: revenue $4.5 billion, up 0.4% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $4.5 billion for fiscal 2012, the year ended 31 December 2012, up 0.4% on the year before. Net income was $755 million, down 0.8%, and diluted earnings per share $4.29. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$4.5 billion
+0.4% on the year
FY2007FY2012
Operating margin
23.4%
23.0% a year earlier
FY2007FY2012
Net income
$755 million
-0.8% on the year
FY2007FY2012
Diluted EPS
$4.29
+6.5% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,472
4,452
4,220
+0.4%
Cost of revenue
1,125
1,122
1,012
+0.3%
Gross profit
3,346
3,330
3,208
+0.5%
Gross margin
74.8%
74.8%
76.0%
Research and development
226
238
218
-5.4%
Selling, general and administrative
1,807
1,834
1,757
-1.5%
Operating income
1,047
1,024
917
+2.3%
Operating margin
23.4%
23.0%
21.7%
Interest expense
72.9
55.3
60.2
+31.8%
Pre-tax income
990
979
860
+1.1%
Income tax
237
219
263
+8.4%
Effective tax rate
24.0%
22.4%
30.6%
Net income
755
761
597
-0.8%
Net margin
16.9%
17.1%
14.1%
Diluted EPS
$4.29
$4.03
$2.97
+6.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,152
1,177
1,194
-2.1%
Capital expenditure
115
114
79.2
+0.8%
Free cash flow
1,037
1,063
1,114
-2.4%
Free cash flow margin
23.2%
23.9%
26.4%
Cash from investing
-592
-624
-727
Cash from financing
-436
-456
-490
Depreciation and amortisation
363
360
340
+0.9%
Share-based compensation
55.0
60.5
62.0
-9.1%
Buybacks
486
1,050
506
-53.8%
Dividends paid
94.4
n/a
n/a
Dividend per share
$0.54
$0.18
n/a
+200.0%
Diluted shares, weighted
176m
189m
201m
-6.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,861
5,507
5,771
+6.4%
Non-controlling interest
5.4
7.6
0.0
-28.9%
Short-term borrowings
n/a
n/a
0.0
Debt
1,821
1,719
1,142
+5.9%
Other liabilities
1,325
1,281
1,086
+3.4%
Total liabilities and equity
9,012
8,515
8,000
+5.8%
Fixed assets
1,211
1,207
1,214
+0.3%
Goodwill
2,572
2,626
2,581
-2.1%
Intangible assets
741
798
827
-7.2%
Investments
672
456
265
+47.4%
Cash and equivalents
884
768
669
+15.1%
Receivables
885
839
776
+5.5%
Inventory
995
930
936
+7.0%
Other assets
1,053
891
732
+18.2%
Total assets
9,012
8,515
8,000
+5.8%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.