Zimmer Biomet Holdings (ZBH) FY2023 results: revenue $7.4 billion, up 6.5% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $7.4 billion for fiscal 2023, the year ended 31 December 2023, up 6.5% on the year before. Net income was $1.0 billion, up 342.5%, and diluted earnings per share $4.88. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$7.4 billion
+6.5% on the year
FY2016FY2023
Operating margin
17.3%
10.0% a year earlier
FY2016FY2023
Net income
$1.0 billion
+342.5% on the year
FY2016FY2023
Diluted EPS
$4.88
+343.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,582
1,285
1,499
+23.1%
Capital expenditure
291
188
144
+54.9%
Free cash flow
1,290
1,097
1,356
+17.7%
Free cash flow margin
17.5%
15.8%
19.9%
Cash from investing
-779
n/a
-504
Cash from financing
-764
n/a
-1,306
Depreciation and amortisation
952
926
938
+2.7%
Share-based compensation
99.8
105
76.0
-5.0%
Buybacks
692
126
n/a
+447.6%
Dividends paid
201
201
200
-0.1%
Dividend per share
$0.96
$0.96
$0.96
0.0%
Diluted shares, weighted
210m
210m
210m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
12,480
12,020
12,661
+3.8%
Non-controlling interest
7.7
6.7
5.7
+14.9%
Debt
5,800
5,700
7,100
+1.8%
Operating lease liabilities
174
167
175
+4.2%
Other liabilities
3,034
3,172
3,515
-4.3%
Total liabilities and equity
21,497
21,066
23,456
+2.0%
Fixed assets
2,060
1,872
1,837
+10.0%
Goodwill
8,818
8,580
8,919
+2.8%
Intangible assets
4,856
5,064
5,534
-4.1%
Cash and equivalents
416
376
378
+10.7%
Receivables
1,442
1,382
1,260
+4.4%
Inventory
2,385
2,147
2,148
+11.1%
Other assets
1,518
1,645
3,381
-7.7%
Total assets
21,497
21,066
23,456
+2.0%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.