Zimmer Biomet Holdings (ZBH) FY2015 results: revenue $6.0 billion, up 28.3% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $6.0 billion for fiscal 2015, the year ended 31 December 2015, up 28.3% on the year before. Net income was $147 million, down 79.6%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$6.0 billion
+28.3% on the year
FY2008FY2015
Operating margin
7.8%
22.2% a year earlier
FY2008FY2015
Net income
$147 million
-79.6% on the year
FY2008FY2015
Diluted EPS
$0.77
-81.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,998
4,673
4,623
+28.3%
Cost of revenue
1,801
1,243
1,267
+44.9%
Gross profit
4,197
3,424
3,337
+22.6%
Gross margin
70.0%
73.3%
72.2%
Research and development
269
187
203
+43.4%
Selling, general and administrative
2,284
1,751
1,749
+30.5%
Operating income
467
1,037
1,069
-55.0%
Operating margin
7.8%
22.2%
23.1%
Interest expense
287
63.1
70.1
+354.2%
Pre-tax income
153
939
1,008
-83.7%
Income tax
7.0
220
230
-96.8%
Effective tax rate
4.6%
23.4%
22.8%
Net income
147
720
780
-79.6%
Net margin
2.5%
15.4%
16.9%
Diluted EPS
$0.77
$4.19
$4.54
-81.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
1,060
963
Capital expenditure
168
145
100
+15.7%
Free cash flow
n/a
916
863
Free cash flow margin
n/a
19.6%
18.7%
Cash from investing
n/a
n/a
-282
Cash from financing
n/a
n/a
-467
Depreciation and amortisation
712
376
358
+89.6%
Share-based compensation
46.4
49.4
48.5
-6.1%
Buybacks
150
400
721
-62.5%
Dividends paid
157
146
132
+8.0%
Dividend per share
$0.88
$0.88
$0.80
0.0%
Diluted shares, weighted
190m
172m
172m
+10.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
9,888
6,550
6,297
+51.0%
Non-controlling interest
1.5
1.8
2.8
-16.7%
Short-term borrowings
n/a
n/a
0.5
Debt
11,497
1,426
1,672
+706.6%
Other liabilities
5,774
1,681
1,608
+243.5%
Total liabilities and equity
27,161
9,658
9,581
+181.2%
Fixed assets
2,063
1,285
1,230
+60.5%
Goodwill
9,934
2,514
2,611
+295.1%
Intangible assets
8,746
604
708
+1,349.3%
Investments
165
612
727
-73.1%
Cash and equivalents
1,459
1,083
1,081
+34.7%
Receivables
1,446
912
937
+58.6%
Inventory
2,254
1,193
1,074
+88.9%
Other assets
1,093
1,454
1,214
-24.8%
Total assets
27,161
9,658
9,581
+181.2%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.