Edwards Lifesciences vs Zimmer Biomet
Zimmer Biomet is the larger business, with $8.23bn of revenue in fiscal 2025 against $6.07bn for Edwards Lifesciences (1.4 times as much). Edwards Lifesciences grew faster (11.5% against 7.2%). Edwards Lifesciences kept more of each dollar of sales as profit: a net margin of 17.7% against 8.6%.
| Latest fiscal year | Edwards LifesciencesEW, 2025 | Zimmer BiometZBH, 2025 |
|---|---|---|
| Revenue | $6.07bn | $8.23bn |
| Revenue growth | 11.5% | 7.2% |
| Net income | $1.07bn | $705m |
| Operating margin | — | — |
| Net margin | 17.7% | 8.6% |
| Return on equity | 10.6% | 5.6% |
| Free cash flow | $1.33bn | $1.47bn |
| Cash | $2.94bn | $592m |
| Total debt | $598m | $7.52bn |
| Debt to equity | — | — |
| Dividend per share | — | $0.96 |
| Dividend yield | — | 1.0% |
| Share buybacks | $893m | $487m |
| Employees | 16,000 | 17,000 |
| Market value | $53.77bn | $18.77bn |
| Price vs our value range | Above our value range | Within our value range |
| Moat score | 96 (Strong) | 71 (Strong) |
| Insider trades, 12 months | 0 buys, 54 sales | 0 buys, 6 sales |