Zimmer Biomet Holdings, Inc. (ZBH)

Zimmer Biomet Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	767.4	705.1	903.8	1,024	231.4	401.6
Depreciation & Amortization	1,107	1,094	996.3	951.7	926.4	937.7
Asset Writedown & Restructuring Costs	-	-	-	-	292.8	16.3
Loss (Gain) From Sale of Investments	-	-	-	-	116.6	-
Stock-Based Compensation	97.1	90.2	101	99.8	105	76
Other Operating Activities	-85.8	-87.1	-46.3	-95.2	-4.6	106.9
Change in Accounts Receivable	-160.6	-127.3	-89.7	-51.9	-184.7	-40.8
Change in Inventory	53.1	98.2	49.9	-240.4	-75.6	-8.4
Change in Accounts Payable	143.5	101.8	-322	-55.3	103	86.5
Change in Income Taxes	-67.1	-166.6	-158.6	-73.8	-152.9	-123.9
Change in Other Net Operating Assets	30.2	-11	65	22.7	-1.2	-47.6
Operating Cash Flow	1,885	1,697	1,499	1,582	1,285	1,499
Operating Cash Flow Growth	11.78%	13.18%	-5.20%	23.11%	-14.31%	24.47%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-589.8	-525	-444.1	-602.8	-446.2	-417.2
Cash Acquisitions	-526.3	-1,393	-276.3	-134.9	-99.8	-
Sale (Purchase) of Intangibles	-136.2	-52.4	-153	-103.4	-29.7	-8.4
Other Investing Activities	37.2	-5.1	-14.7	62.2	46.5	-78
Investing Cash Flow	-1,215	-1,976	-888.1	-778.9	-529.2	-503.6

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	2,492	1,436	499.8	458	1,600
Total Debt Issued	120	2,492	1,436	499.8	458	1,600
Long-Term Debt Repaid	-	-1,463	-900	-445.2	-1,519	-2,655
Total Debt Repaid	-600	-1,463	-900	-445.2	-1,519	-2,655
Net Debt Issued (Repaid)	-480	1,029	536.3	54.6	-1,061	-1,055
Issuance of Common Stock	27.5	39.7	82.1	101.1	78.1	122.5
Repurchase of Common Stock	-829.3	-487	-868	-692.2	-126.4	-
Common Dividends Paid	-186.7	-190.3	-196	-200.9	-201.2	-200.1
Other Financing Activities	-96	-65.5	-38.9	-26.1	466.4	-173.4
Financing Cash Flow	-1,565	326	-484.5	-763.5	-843.8	-1,306

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	2.3	19	-17.1	0.9	-14.5	-13.2
Net Cash Flow	-892.8	66.4	109.7	40.1	-102.8	-323.6

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	1,295	1,172	1,055	978.8	838.5	1,082
Free Cash Flow Growth	7.30%	11.07%	7.82%	16.73%	-22.50%	29.80%
Free Cash Flow Margin	15.11%	14.24%	13.74%	13.24%	12.08%	15.85%
Free Cash Flow Per Share	6.66	5.90	5.18	4.67	3.99	5.14
Levered Free Cash Flow	1,442	1,352	1,061	1,125	1,654	891.55
Unlevered Free Cash Flow	1,622	1,535	1,197	1,251	1,757	1,022

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	298.4	298.4	200.8	200.6	161.7	219
Cash Income Tax Paid	-	-	328.5	215.2	326.6	258.4
Change in Working Capital	-0.9	-104.9	-455.4	-398.7	-311.4	-134.2

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Nov 4, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 10, 2026

Data Sources Report a data error