Zimmer Biomet Holdings (ZBH) FY2016 results: revenue $7.7 billion, up 27.9% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $7.7 billion for fiscal 2016, the year ended 31 December 2016, up 27.9% on the year before. Net income was $306 million, up 108.1%, and diluted earnings per share $1.51. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$7.7 billion
+27.9% on the year
FY2009FY2016
Operating margin
10.7%
7.8% a year earlier
FY2009FY2016
Net income
$306 million
+108.1% on the year
FY2009FY2016
Diluted EPS
$1.51
+96.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
7,668
5,998
4,673
+27.9%
Cost of revenue
2,382
1,801
1,243
+32.3%
Gross profit
5,287
4,197
3,424
+26.0%
Gross margin
68.9%
70.0%
73.3%
Research and development
366
269
187
+36.0%
Selling, general and administrative
2,945
2,284
1,751
+28.9%
Operating income
821
467
1,037
+75.7%
Operating margin
10.7%
7.8%
22.2%
Interest expense
358
287
63.1
+24.9%
Pre-tax income
400
153
939
+160.8%
Income tax
95.0
7.0
220
+1,257.1%
Effective tax rate
23.8%
4.6%
23.4%
Net income
306
147
720
+108.1%
Net margin
4.0%
2.5%
15.4%
Diluted EPS
$1.51
$0.77
$4.19
+96.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,632
n/a
1,060
Capital expenditure
185
168
145
+10.1%
Free cash flow
1,448
n/a
916
Free cash flow margin
18.9%
n/a
19.6%
Cash from investing
-1,692
n/a
n/a
Cash from financing
-743
n/a
n/a
Depreciation and amortisation
1,039
712
376
+45.9%
Share-based compensation
57.3
46.4
49.4
+23.5%
Buybacks
416
150
400
+177.0%
Dividends paid
188
157
146
+19.9%
Dividend per share
$0.96
$0.88
$0.88
+9.1%
Diluted shares, weighted
202m
190m
172m
+6.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
9,669
9,888
6,550
-2.2%
Non-controlling interest
1.0
1.5
1.8
-33.3%
Debt
11,241
11,497
1,426
-2.2%
Other liabilities
5,773
5,774
1,681
-0.0%
Total liabilities and equity
26,684
27,161
9,658
-1.8%
Fixed assets
2,038
2,063
1,285
-1.2%
Goodwill
10,644
9,934
2,514
+7.1%
Intangible assets
8,785
8,746
604
+0.4%
Investments
n/a
165
612
Cash and equivalents
634
1,459
1,083
-56.5%
Receivables
1,604
1,446
912
+10.9%
Inventory
1,959
2,254
1,193
-13.1%
Other assets
1,019
1,093
1,454
-6.7%
Total assets
26,684
27,161
9,658
-1.8%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.