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Zimmer Biomet gets most of its revenue from knee and hip replacement products that surgeons use to treat damaged joints. It also supplies products for sports medicine and trauma care. Its ZBEdge Platform connects robotic and digital technologies to gather data before, during and after surgery, helping surgeons make patient-care decisions.
Hospitals and ambulatory surgery centers buy its products directly or through distributors and healthcare dealers. Most sales follow a model in which Zimmer Biomet places inventory with customers or sales agents, keeps ownership until it is used, and bills when a product is implanted. Having the right products available for surgery is therefore central to the business. The United States supplies most revenue, but no single customer accounts for a substantial share.
Demand depends on surgical procedures, many of which are elective, and on government and private insurers' coverage and reimbursement, which affect providers' purchasing and pricing. Medical-device rules also govern what Zimmer Biomet can sell and how it can manufacture and promote its products: it must obtain required approvals or clearances and meet ongoing quality and safety requirements.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Stryker competes with Zimmer Biomet for hospitals’ spending on knee and hip replacements, extremity and trauma products, and surgical instruments, tying both to orthopedic procedure volumes. Watch Stryker’s Orthopaedics sales rather than its total sales for the closer read on Zimmer Biomet’s markets.
Smith+Nephew competes with Zimmer Biomet to sell healthcare systems hip and knee implants, trauma products and robotics-assisted orthopedic technologies. Its hip and knee implant business is a useful place to watch demand in markets shared with Zimmer Biomet.
Johnson & Johnson’s MedTech orthopedic business competes with Zimmer Biomet for healthcare customers’ spending on knee, hip, sports medicine, extremity and trauma products. Watch that business rather than the parent’s overall results: Johnson & Johnson also sells prescription medicines, which dilute its exposure to orthopedic demand.
Enovis Corporation competes with Zimmer Biomet to supply joint replacement and foot and ankle implants for surgical care. Its Reconstructive business, rather than its non-surgical Prevention & Recovery products, is the line to watch for demand in these overlapping markets.
CONMED Corporation competes with Zimmer Biomet to sell surgical-care customers sports medicine and extremity products and powered surgical instruments. Its orthopedic surgery sales are the relevant signal; general surgery accounted for 58% of CONMED’s net sales in 2025.
Shoulder Innovations, Inc. competes with Zimmer Biomet’s upper-extremity business to supply hospitals and surgery centers with anatomic and reverse shoulder replacement implants. Its shoulder implant adoption is a focused competitive signal for a category that accounted for 30% of Zimmer Biomet’s S.E.T. net sales in 2025.
Treace Medical Concepts, Inc. sells bunion surgery systems and implants that compete with Zimmer Biomet and its acquired Paragon 28 business, and is enforcing patents against both. Watch the patent-review proceedings: their outcome could narrow Treace’s rights, while delays could postpone an injunction or damages against these competitors.
Fed Interest Rate Decision
The Fed’s decision tracks the benchmark rate that influences borrowing costs; for Zimmer Biomet, it can change interest expense on debt that reprices and the cost of new borrowing.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is higher than expected, debt that reprices and new borrowing may cost Zimmer Biomet more, raising interest expense and leaving less cash for operations and investment.
If it comes in below expectations
If the policy rate is lower than expected, debt that reprices and new borrowing may cost Zimmer Biomet less, easing interest expense and freeing cash for operations and investment.
Stryker Corporation earningsSYK
Stryker's Orthopaedics sales will show whether hospitals are still spending in the knee and hip replacement markets where it competes most directly with Zimmer Biomet.
Compare the trend in Stryker's Orthopaedics sales with Zimmer Biomet's sales in Knees and Hips. Growth at both would point to steadier demand in their overlapping replacement markets; a decline at Stryker would signal a softer shared market, but would not by itself prove Zimmer Biomet is declining. If the trends diverge, company-specific products and execution matter too.
Zimmer Biomet Holdings, Inc. earningsThis company
Zimmer Biomet recognizes most consigned product sales when implants are implanted, so this report will show whether sales growth in knees, hips and S.E.T. products can hold up alongside gross margin.
Read sales growth in Knees, Hips and S.E.T. alongside gross margin. Growth across all three with margin holding would show that sales are expanding without obvious added cost or product-mix pressure; growth concentrated in S.E.T. while margin falls would point to narrower expansion that has not yet improved product economics.
