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Edwards Lifesciences vs Zimmer Biomet: revenue, profit, margins and growth compared

Edwards Lifesciences brought in $6.1B of revenue in fiscal 2025, Zimmer Biomet $8.2B in fiscal 2025. Revenue changed by +11.5% at Edwards Lifesciences and +7.2% at Zimmer Biomet on the year before, so Edwards Lifesciences grew faster. Edwards Lifesciences kept 17.7% of its revenue as net profit, Zimmer Biomet 8.6%. Free cash flow was $1.3B at Edwards Lifesciences and $1.5B at Zimmer Biomet.

Side by side, latest fiscal year

EWZBH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6.1B$8.2B
Revenue growth+11.5%+7.2%
Net income$1.1B$705.1M
Net margin17.7%8.6%
Free cash flow$1.3B$1.5B
Free cash flow margin22.0%17.9%
Earnings per share (diluted)$1.83$3.55
Cash$2.9B$591.9M
Debt$598.3M$7.5B
Price to earnings47.125.6
Market value$49.7B$17.4B
Dividend yieldn/a1.05%
Rank by revenue in sector#54 of 523 · Health care#51 of 523 · Health care

Over the years

Revenue
EW FY2018: $3.7BEW FY2019: $4.3BEW FY2020: $4.4BEW FY2021: $5.2BEW FY2022: $4.5BEW FY2023: $5BEW FY2024: $5.4BEW FY2025: $6.1BZBH FY2018: $7.9BZBH FY2019: $8BZBH FY2020: $6.1BZBH FY2021: $6.8BZBH FY2022: $6.9BZBH FY2023: $7.4BZBH FY2024: $7.7BZBH FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
EW $6.1BZBH $8.2B
Net income
EW FY2018: $722.2MEW FY2019: $1BEW FY2020: $823.4MEW FY2021: $1.5BEW FY2022: $1.5BEW FY2023: $1.4BEW FY2024: $4.2BEW FY2025: $1.1BZBH FY2018: -$379.2MZBH FY2019: $1.1BZBH FY2020: -$138.9MZBH FY2021: $401.6MZBH FY2022: $231.4MZBH FY2023: $1BZBH FY2024: $903.8MZBH FY2025: $705.1MFY18FY19FY20FY21FY22FY23FY24FY25
EW $1.1BZBH $705.1M
Net margin
EW FY2018: 19.4%EW FY2019: 24.1%EW FY2020: 18.8%EW FY2021: 28.7%EW FY2022: 34.1%EW FY2023: 28.0%EW FY2024: 76.7%EW FY2025: 17.7%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
EW 17.7%ZBH 8.6%
Revenue growth
EW FY2019: +16.8%EW FY2020: +0.9%EW FY2021: +19.3%EW FY2022: -14.7%EW FY2023: +12.2%EW FY2024: +8.6%EW FY2025: +11.5%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
EW +11.5%ZBH +7.2%
Free cash flow
EW FY2018: $688MEW FY2019: $928.5MEW FY2020: $647.3MEW FY2021: $1.4BEW FY2022: $973.6MEW FY2023: $642.8MEW FY2024: $289.9MEW FY2025: $1.3BZBH FY2018: $1.6BZBH FY2019: $1.4BZBH FY2020: $1.1BZBH FY2021: $1.4BZBH FY2022: $1.2BZBH FY2023: $1.3BZBH FY2024: $1.3BZBH FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
EW $1.3BZBH $1.5B

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

Questions about Edwards Lifesciences and Zimmer Biomet

Which is bigger by revenue, Edwards Lifesciences or Zimmer Biomet?

Zimmer Biomet is bigger by revenue: $8.2B in fiscal 2025, against $6.1B for Edwards Lifesciences in fiscal 2025.

Which keeps more of its revenue as profit, Edwards Lifesciences or Zimmer Biomet?

Edwards Lifesciences had a net margin of 17.7% in fiscal 2025; Zimmer Biomet had 8.6% in fiscal 2025.

Which grew revenue faster, Edwards Lifesciences or Zimmer Biomet?

In their latest fiscal years revenue changed by +11.5% at Edwards Lifesciences 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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