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Zimmer Biomet
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Latest analysis
Updated Nov 4, 2026
Zimmer Biomet Q3 2026: Knees decline and SG&A inflation offset ROSA momentum and tariff refund tailwind
Zimmer Biomet posted 3.1% net sales growth in Q3 2026 to $2,062.9 million, with the headline masked by a 3.1% Knees decline driven by U.S. sales force transition and China distributor disruption. ROSA Robot and bone cement drove Technology & Data segment growth of 11.9% in Q3, while a ~$30 million IEEPA tariff refund recognized in the nine-month period provided a one-time cost-of-goods tailwind. SG&A as a percent of net sales rose 90 basis points in Q3 to 41.4%, reflecting deliberate sales force investment that is compressing Americas operating margins even as top-line growth holds.
Tone: mixedRevenue
$8.2B
ZBH 10-K · FY 2025
Employees
17,000
Revenue growth YoY
+7.2%
Founded
1927
Profile
ZBH 10-K Item 1 · Feb 20, 2026Zimmer Biomet is a global medical technology company that designs, manufactures, and markets orthopedic reconstructive products, sports medicine and extremities devices, and integrated digital and robotic surgical technologies. The company serves orthopedic and neurosurgeons across three regional segments — Americas, EMEA, and Asia Pacific — through direct and distributor-based sales channels. Its ROSA robotic platform and ZBEdge digital ecosystem are central to its technology differentiation strategy.
Read filing description ↓ Collapse description ↑
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We design, manufacture and market orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; craniomaxillofacial and thoracic ('CMFT') products; bone cement; surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives. We allocate resources to achieve our operating profit goals through three regional operating segments: the Americas; Europe, Middle East and Africa ('EMEA'); and Asia Pacific. The Americas operating segment is our largest, comprised principally of the U.S. The EMEA operating segment is our second largest, with France, Germany, Italy, Spain and the United Kingdom collectively accounting for approximately 50 percent of net sales in the region in 2025. The Asia Pacific segment includes key markets such as Japan, China, Australia, New Zealand, Korea, Taiwan, India, Thailand, Singapore, Hong Kong and Malaysia, with Japan being the largest market within this segment. Through our Technology & Data, Bone Cement and Surgical product category, we market a collective suite of our products and technologies as the ZBEdge Platform, which connects robotic and digital technologies together to collect data before, during and after surgery.
Primary products
- Persona Knee
- NexGen Knee Implants
- Vanguard Knee
- Oxford Partial Knee
- Taperloc Hip System
- Avenir Complete Hip System
Business segments
End markets
Geographies
Named competitors
“In the global markets for our knees, hips, and S.E.T. products, our major competitors include Johnson & Johnson MedTech (formerly the DePuy Synthes Companies of Johnson & Johnson), Stryker Corporation and Smith & Nephew plc.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales increased 7.2 percent in 2025 compared to 2024, driven by the Paragon 28 acquisition, market growth, new product introductions and a favorable foreign currency effect of 0.8 percent.
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