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Align Technology vs Zimmer Biomet: revenue, profit, margins and growth compared

Align Technology brought in $4B of revenue in fiscal 2025, Zimmer Biomet $8.2B in fiscal 2025. Revenue changed by +0.9% at Align Technology and +7.2% at Zimmer Biomet on the year before, so Zimmer Biomet grew faster. Align Technology kept 10.2% of its revenue as net profit, Zimmer Biomet 8.6%. Free cash flow was $490.8M at Align Technology and $1.5B at Zimmer Biomet.

Side by side, latest fiscal year

ALGNZBH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$8.2B
Revenue growth+0.9%+7.2%
Net income$410.4M$705.1M
Net margin10.2%8.6%
Free cash flow$490.8M$1.5B
Free cash flow margin12.2%17.9%
Earnings per share (diluted)$5.65$3.55
Cash$1.1B$591.9M
Debtn/a$7.5B
Price to earnings26.025.6
Market value$10.4B$17.4B
Dividend yieldn/a1.05%
Rank by revenue in sector#71 of 523 · Health care#51 of 523 · Health care

Over the years

Revenue
ALGN FY2018: $2BALGN FY2019: $2.4BALGN FY2020: $2.5BALGN FY2021: $4BALGN FY2022: $3.7BALGN FY2023: $3.9BALGN FY2024: $4BALGN FY2025: $4BZBH FY2018: $7.9BZBH FY2019: $8BZBH FY2020: $6.1BZBH FY2021: $6.8BZBH FY2022: $6.9BZBH FY2023: $7.4BZBH FY2024: $7.7BZBH FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $4BZBH $8.2B
Net income
ALGN FY2018: $400.2MALGN FY2019: $442.8MALGN FY2020: $1.8BALGN FY2021: $772MALGN FY2022: $361.6MALGN FY2023: $445.1MALGN FY2024: $421.4MALGN FY2025: $410.4MZBH FY2018: -$379.2MZBH FY2019: $1.1BZBH FY2020: -$138.9MZBH FY2021: $401.6MZBH FY2022: $231.4MZBH FY2023: $1BZBH FY2024: $903.8MZBH FY2025: $705.1MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $410.4MZBH $705.1M
Net margin
ALGN FY2018: 20.4%ALGN FY2019: 18.4%ALGN FY2020: 71.8%ALGN FY2021: 19.5%ALGN FY2022: 9.7%ALGN FY2023: 11.5%ALGN FY2024: 10.5%ALGN FY2025: 10.2%ZBH FY2018: -4.8%ZBH FY2019: 14.2%ZBH FY2020: -2.3%ZBH FY2021: 5.9%ZBH FY2022: 3.3%ZBH FY2023: 13.8%ZBH FY2024: 11.8%ZBH FY2025: 8.6%FY18FY19FY20FY21FY22FY23FY24FY25
ALGN 10.2%ZBH 8.6%
Revenue growth
ALGN FY2019: +22.4%ALGN FY2020: +2.7%ALGN FY2021: +59.9%ALGN FY2022: -5.5%ALGN FY2023: +3.4%ALGN FY2024: +3.5%ALGN FY2025: +0.9%ZBH FY2019: +0.6%ZBH FY2020: -23.2%ZBH FY2021: +11.4%ZBH FY2022: +1.6%ZBH FY2023: +6.5%ZBH FY2024: +3.8%ZBH FY2025: +7.2%FY19FY20FY21FY22FY23FY24FY25
ALGN +0.9%ZBH +7.2%
Free cash flow
ALGN FY2018: $331.4MALGN FY2019: $597.6MALGN FY2020: $507.3MALGN FY2021: $771.4MALGN FY2022: $276.8MALGN FY2023: $608.1MALGN FY2024: $622.7MALGN FY2025: $490.8MZBH FY2018: $1.6BZBH FY2019: $1.4BZBH FY2020: $1.1BZBH FY2021: $1.4BZBH FY2022: $1.2BZBH FY2023: $1.3BZBH FY2024: $1.3BZBH FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $490.8MZBH $1.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Align Technology and Zimmer Biomet

Which is bigger by revenue, Align Technology or Zimmer Biomet?

Zimmer Biomet is bigger by revenue: $8.2B in fiscal 2025, against $4B for Align Technology in fiscal 2025.

Which keeps more of its revenue as profit, Align Technology or Zimmer Biomet?

Align Technology had a net margin of 10.2% in fiscal 2025; Zimmer Biomet had 8.6% in fiscal 2025.

Which grew revenue faster, Align Technology or Zimmer Biomet?

In their latest fiscal years revenue changed by +0.9% at Align Technology and +7.2% at Zimmer Biomet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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