Zimmer Biomet Holdings (ZBH) FY2017 results: revenue $7.8 billion, up 1.8% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $7.8 billion for fiscal 2017, the year ended 31 December 2017, up 1.8% on the year before. Net income was $1.8 billion, up 492.9%, and diluted earnings per share $8.90. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$7.8 billion
+1.8% on the year
FY2010FY2017
Operating margin
10.2%
10.7% a year earlier
FY2010FY2017
Net income
$1.8 billion
+492.9% on the year
FY2010FY2017
Diluted EPS
$8.90
+489.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,803
7,668
5,998
+1.8%
Cost of revenue
2,133
2,382
1,801
-10.5%
Gross profit
5,670
5,287
4,197
+7.3%
Gross margin
72.7%
68.9%
70.0%
Research and development
370
366
269
+1.2%
Selling, general and administrative
3,105
2,945
2,284
+5.4%
Operating income
799
821
467
-2.7%
Operating margin
10.2%
10.7%
7.8%
Interest expense
328
358
287
-8.5%
Pre-tax income
465
400
153
+16.3%
Income tax
-1,349
95.0
7.0
Effective tax rate
-290.3%
23.8%
4.6%
Net income
1,814
306
147
+492.9%
Net margin
23.2%
4.0%
2.5%
Diluted EPS
$8.90
$1.51
$0.77
+489.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,582
1,632
n/a
-3.1%
Capital expenditure
156
185
168
-15.5%
Free cash flow
1,426
1,448
n/a
-1.5%
Free cash flow margin
18.3%
18.9%
n/a
Cash from investing
-511
-1,692
n/a
Cash from financing
-1,210
-743
n/a
Depreciation and amortisation
1,063
1,039
712
+2.3%
Share-based compensation
53.7
57.3
46.4
-6.3%
Buybacks
n/a
416
150
Dividends paid
194
188
157
+2.8%
Dividend per share
$0.96
$0.96
$0.88
0.0%
Diluted shares, weighted
204m
202m
190m
+0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
11,736
9,669
9,888
+21.4%
Non-controlling interest
-0.3
1.0
1.5
Debt
10,142
11,241
11,497
-9.8%
Other liabilities
4,086
5,773
5,774
-29.2%
Total liabilities and equity
25,964
26,684
27,161
-2.7%
Fixed assets
2,039
2,038
2,063
+0.0%
Goodwill
10,668
10,644
9,934
+0.2%
Intangible assets
8,353
8,785
8,746
-4.9%
Investments
n/a
n/a
165
Cash and equivalents
524
634
1,459
-17.3%
Receivables
1,544
1,604
1,446
-3.8%
Inventory
2,068
1,959
2,254
+5.6%
Other assets
767
1,019
1,093
-24.7%
Total assets
25,964
26,684
27,161
-2.7%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.