Zimmer Biomet Holdings (ZBH) Q1 FY2026 earnings: revenue $2.1 billion, up 9.3% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $2.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 9.3% on the same quarter a year earlier. Net income was $238 million, up 30.8% on the year, and diluted earnings per share $1.22. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.
Revenue
$2.1 billion
+9.3% on the year · -7.0% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
17.9%
15.3% a year earlier
Q2 FY2024Q1 FY2026
Net income
$238 million
+30.8% on the year · +70.8% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$1.22
+34.1% on the year · +74.3% on the quarter
Q2 FY2024Q1 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 raised, 4 kept.
Net sales rose 9.3% reported: Net sales were $2.087 billion, up 9.3% reported and 2.9% on an organic constant currency basis, against $1.909 billion a year earlier.
Diluted EPS rose 34.1%: Reported diluted EPS was $1.22 against $0.91. Adjusted diluted EPS was $2.09 against $1.81. Net earnings were $238.1 million against $182.0 million.
Goodwill impairment assessment still open: Management's initial assessment was that no goodwill impairment charge would be recorded in the first quarter. The fair value assessment is still being finalized, so the determination is not complete.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free 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
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
359
517
383
-30.5%
-6.1%
Capital expenditure
36.3
74.8
44.6
-51.5%
-18.6%
Free cash flow
323
443
338
-27.0%
-4.5%
Free cash flow margin
15.5%
19.7%
17.7%
Cash from investing
-159
-322
-106
Cash from financing
-369
-897
575
Depreciation and amortisation
270
284
254
-4.9%
+6.1%
Share-based compensation
24.2
24.1
19.6
+0.4%
+23.5%
Buybacks
250
250
230
+0.0%
+8.8%
Dividends paid
46.9
47.5
47.8
-1.3%
-1.9%
Dividend per share
$0.24
n/a
$0.24
0.0%
Diluted shares, weighted
196m
198m
200m
-1.2%
-2.0%
Shares outstanding at period end
193m
196m
198m
-1.1%
-2.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
12,673
12,698
12,395
-0.2%
+2.2%
Non-controlling interest
8.2
8.1
8.7
+1.2%
-5.7%
Debt
7,471
7,519
7,176
-0.6%
+4.1%
Operating lease liabilities
n/a
176
n/a
Other liabilities
2,569
2,691
2,604
-4.5%
-1.3%
Total liabilities and equity
22,722
23,092
22,184
-1.6%
+2.4%
Fixed assets
2,212
2,207
2,065
+0.2%
+7.1%
Goodwill
9,932
9,947
8,989
-0.2%
+10.5%
Intangible assets
4,548
4,717
4,468
-3.6%
+1.8%
Cash and equivalents
424
592
1,384
-28.3%
-69.4%
Receivables
1,729
1,704
1,533
+1.4%
+12.7%
Inventory
2,247
2,286
2,244
-1.7%
+0.1%
Other assets
1,631
1,638
1,500
-0.4%
+8.7%
Total assets
22,722
23,092
22,184
-1.6%
+2.4%
Questions
What was Zimmer Biomet Holdings' revenue in Q1 FY2026?
Zimmer Biomet Holdings (ZBH) reported revenue of $2.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 9.3% on the same quarter a year earlier.
How much did Zimmer Biomet Holdings earn in Q1 FY2026?
Net income for Q1 FY2026 was $238 million, up 30.8% on the year, and diluted earnings per share $1.22.
When did Zimmer Biomet Holdings report Q1 FY2026 results?
Zimmer Biomet Holdings filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.