GLOBUS MEDICAL INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GLOBUS MEDICAL INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	564	636	713	785	789	958	1,023	1,568	2,519	2,939
Cost of revenue	135	150	159	180	217	239	264	548	1,035	958
Gross profit	429	486	554	605	572	719	759	1,020	1,484	1,981
Research and development	44.5	43.7	55.5	60.1	84.5	97.3	73	124	164	147
Selling, general and administrative	222	268	312	355	355	408	432	644	981	1,178
Operating expenses	275	324	384	433	460	547	531	887
Operating income	154	162	169	172	111	172	228	133	166	480
Other non-operating income	3.14	8.09	19.3	18	14.5	8.45	15.1	32.3	-45.3	125
Pre-tax income	157	170	189	190	126	180	243	165	121	605
Income tax	52.9	62.6	32.1	34.7	23.6	31.2	52.9	42.5	17.7	67.2
Net income	104	107	156	155	102	149	190	123	103	538
EBITDA	193	204	211	225	174	242	296	279	419	757
EPS, basic	1.09	1.12	1.60	1.57	1.04	1.48	1.89	1.09	0.76	3.98
EPS, diluted	1.08	1.10	1.54	1.52	1.01	1.44	1.85	1.07	0.75	3.92
Shares, basic (weighted)	95.6	96.2	97.9	99.2	98.6	101	100	113	136	135
Shares, diluted (weighted)	96.4	97.9	101	102	101	104	103	115	138	137

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	67	119	140	195	239	193	150	467	784	526
Short-term investments		255	200	116	187	250	296	50.5	106	31.1
Receivables	92	117	137	154	142	164	213	503	558	679
Inventory	113	108	131	196	229	237	299	848	659	759
Other current assets	14.5	11.2	15.4	17.2	17.8	18.4	21	44.6	49.6	65.4
Total current assets	514	620	631	687	822	865	983	1,915	2,177	2,126
Property, plant and equipment	124	143	172	200	217	221	244	587	562	564
Lease right-of-use assets				2.48	4.74	5.02	5.99	59.9	49.6	63.8
Goodwill	106	124	124	129	157	180	197	1,435	1,432	1,435
Intangible assets	61.7	78.7	87.3	78.8	86.9	68.7	63.6	925	795	745
Long-term investments		56.1	263		359	562	496	75.4	66.1	71.8
Other non-current assets	0.93	7.95	10.4	21.7	32	36.3	37.3	78.6	75.1	78.8
Total assets	928	1,079	1,301	1,532	1,679	1,957	2,076	5,086	5,252	5,303
Accounts payable	17.5	25	25.9	24.6	18.2	22	36.1	56.7	75.1	98.9
Accrued liabilities	46.4	52.6	59.9	63.3	78.3	91.2	92.2	240	261	334
Deferred revenue	0	0.76	2.6	5.4	8.13	12	14.1	18.4	22.1	27.7
Total current liabilities	79.9	93.1	96.1	111	121	140	159	392	856	498
Lease liabilities				1.14	2.94	2.94	3.48	91	83.6	104
Other non-current liabilities	1.82	2.47	7.63	9.38	14.7	12.6	10.3	24.6	21.5	21.3
Total liabilities	95.6	111	115	130	173	216	230	1,088	1,074	730
Paid-in capital	212	238	300	357	457	554	631	2,871	3,031	3,170
Retained earnings	629	736	893	1,048	1,045	1,194	1,240	1,137	1,153	1,388
Other comprehensive income	-8.64	-6.91	-7.17	-2.9	3.96	-6.77	-24.6	-10.2	-6.86	15.3
Shareholders' equity	832	968	1,186	1,402	1,506	1,741	1,846	3,998	4,177	4,573
Total equity	832	968	1,186	1,402	1,506	1,741	1,846	3,998	4,177	4,573
Total liabilities and equity	928	1,079	1,301	1,532	1,679	1,957	2,076	5,086	5,252	5,303
Shares outstanding	95.9	96.7	98.6	99.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	104	107	156	155	102	149	190	123	103	538
Depreciation and amortization	38.8	42.1	41.6	52.7	62.9	69.9	68.3	146	253	277
Stock-based compensation	11.4	14.7	21.9	26.1	27.1	30.6	32.8	52.7	54.2	49.8
Deferred income tax	-4.13	8.21	0.97	4.29	-3.94	-17.6	-22.3	-58.2	-134	18.6
Change in receivables	-4.67	-25	-21.8	-18.3	10.7	-25.9	-50.8	-49.9	-78.1	-52.2
Change in inventory	-10.5	-5.28	-31.4	-50	-50.1	-12	-61.7	-70.3	-29.9	-17.6
Change in payables	-0.02	9.84	-3.01	0.77	-6.35	3.68	14.4	-14.2	17.7	8.49
Cash from operations	148	159	182	172	199	276	178	243	521	753
Capital expenditures	-40.9	-51.3	-59.7	-70.8	-63.7	-56.9	-74	-78.3	-115	-165
Acquisitions	-76.1	-29.9	-14.8	-23.8	-33.5	-34.5	-31.4	-296	-17.6	-253
Purchases of investments	-350	-393	-538	-347	-224	-622	-420	-101	-114	-108
Sales and maturities of investments	282	240	278	247	134	228	312	240	58.7	63.9
Cash from investing	-163	-111	-193	-140	-117	-376	-110	303	-176	-355
Debt repaid								0	0	-450
Stock issued	5.87	11.7	39.3	31	72.3	63.5	41.7	12.4	110	89.8
Share buybacks					-105		-144	-226	-85.8	-300
Cash from financing	0.47	1.63	32.6	24.4	-38.7	54.1	-110	-232	-27.7	-679
Exchange rate effect	-1.89	1.98	-0.26	-0.16	0.87	-0.81	-0.75	2.18	0.26	22.4
Net change in cash	-16.3	51.4	20.9	56	43.7	-46.3	-42.6	317	317	-258
Free cash flow	107	108	122	101	135	219	104	165	405	589
Interest paid	0.04	0	0.01	0.08
Income taxes paid	50.1	59.1	30.6	34.1	25.4	45	77.8	101	159	98.9

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $74.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	68.5%	Gross profit / revenue.
Operating margin	20.3%	Operating income / revenue.
EBITDA margin	27.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	21.0%	Pre-tax income / revenue.
Net margin	17.0%	Net income / revenue.
FCF margin	24.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	28.9%	Cash from operations / revenue.
Effective tax rate	18.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.8%	Net income / average total assets.
Return on invested capital (ROIC)	12.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.7%	Research and development expense / revenue.
SG&A / revenue	38.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.9%	Capital expenditures / revenue.
D&A / revenue	7.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	16.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	42.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	30.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	33.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	37.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	28.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	189.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	28.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	33.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	80.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	36.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	34.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	422.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	41.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	39.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	422.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	28.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	31.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	44.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	61.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	30.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	45.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	78.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	34.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	35.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	24.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	36.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	25.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	10.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.62x	Current assets / current liabilities.
Quick ratio	2.69x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.24x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	13.1%	Total liabilities / total assets.
Working capital	$1.74B	Current assets - current liabilities.
Goodwill and intangibles / assets	38.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.64B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.57x	Revenue / average total assets.
Fixed asset turnover	5.89x	Revenue / average property, plant and equipment.
Inventory turnover	1.22x	Cost of revenue / average inventory.
Days inventory	299 days	365 x average inventory / cost of revenue.
Receivables turnover	4.54x	Revenue / average receivables.
Days sales outstanding	80 days	365 x average receivables / revenue.
Days payables	39 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	340 days	Days inventory + days sales outstanding - days payables.
FCF conversion	141.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	17.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.90	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$22.89	Revenue / diluted weighted shares.
FCF per share	$5.50	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.63	Cash from operations / diluted weighted shares.
Book value per share	$34.71	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.20	Tangible book value / shares outstanding.
Cash per share	$4.33	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	29.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$10.01B	Share price x shares outstanding.
Enterprise value	$9.41B	Market cap + total debt - cash - short-term investments.
P/E	18.7x	Market cap / net income. Only when net income is positive.
P/S	3.18x	Market cap / revenue.
P/B	2.10x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.79x	Market cap / tangible book value, when positive.
P/FCF	13.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.0x	Market cap / cash from operations, when positive.
EV/Sales	2.99x	Enterprise value / revenue.
EV/EBIT	14.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	12.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.6%	Free cash flow / market cap.
Earnings yield	5.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	2.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.66x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was GLOBUS MEDICAL INC's revenue in fiscal 2025?

GLOBUS MEDICAL INC reported revenue of $2.94B for fiscal 2025, 16.7% higher than the year before.

Was GLOBUS MEDICAL INC profitable in fiscal 2025?

Yes. Net income was $537.9M, a net margin of 18.3%.

How much free cash flow did GLOBUS MEDICAL INC generate in fiscal 2025?

Cash from operations of $753.4M minus capital expenditures of $164.7M left free cash flow of $588.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to GLOBUS MEDICAL INC