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Inogen vs Zimmer Biomet: revenue, profit, margins and growth compared

Inogen brought in $348.7M of revenue in fiscal 2025, Zimmer Biomet $8.2B in fiscal 2025. Revenue changed by +3.9% at Inogen and +7.2% at Zimmer Biomet on the year before, so Zimmer Biomet grew faster. Inogen kept -6.5% of its revenue as net profit, Zimmer Biomet 8.6%. Free cash flow was -$13.7M at Inogen and $1.5B at Zimmer Biomet.

Side by side, latest fiscal year

INGNZBH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$348.7M$8.2B
Revenue growth+3.9%+7.2%
Net income-$22.7M$705.1M
Net margin-6.5%8.6%
Free cash flow-$13.7M$1.5B
Free cash flow margin-3.9%17.9%
Earnings per share (diluted)-$0.86$3.55
Cash$103.7M$591.9M
Debtn/a$7.5B
Price to earningsn/a25.6
Market value$142.2M$17.4B
Dividend yieldn/a1.05%
Rank by revenue in sector#213 of 523 · Health care#51 of 523 · Health care

Over the years

Revenue
INGN FY2018: $358.1MINGN FY2019: $361.9MINGN FY2020: $308.5MINGN FY2021: $358MINGN FY2022: $377.2MINGN FY2023: $315.7MINGN FY2024: $335.7MINGN FY2025: $348.7MZBH FY2018: $7.9BZBH FY2019: $8BZBH FY2020: $6.1BZBH FY2021: $6.8BZBH FY2022: $6.9BZBH FY2023: $7.4BZBH FY2024: $7.7BZBH FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
INGN $348.7MZBH $8.2B
Net income
INGN FY2018: $51.8MINGN FY2019: $21MINGN FY2020: -$5.8MINGN FY2021: -$6.3MINGN FY2022: -$83.8MINGN FY2023: -$102.4MINGN FY2024: -$35.9MINGN FY2025: -$22.7MZBH FY2018: -$379.2MZBH FY2019: $1.1BZBH FY2020: -$138.9MZBH FY2021: $401.6MZBH FY2022: $231.4MZBH FY2023: $1BZBH FY2024: $903.8MZBH FY2025: $705.1MFY18FY19FY20FY21FY22FY23FY24FY25
INGN -$22.7MZBH $705.1M
Net margin
INGN FY2018: 14.5%INGN FY2019: 5.8%INGN FY2020: -1.9%INGN FY2021: -1.8%INGN FY2022: -22.2%INGN FY2023: -32.5%INGN FY2024: -10.7%INGN FY2025: -6.5%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
INGN -6.5%ZBH 8.6%
Revenue growth
INGN FY2019: +1.1%INGN FY2020: -14.8%INGN FY2021: +16.1%INGN FY2022: +5.4%INGN FY2023: -16.3%INGN FY2024: +6.4%INGN FY2025: +3.9%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
INGN +3.9%ZBH +7.2%
Free cash flow
INGN FY2018: $51.9MINGN FY2019: $37.5MINGN FY2020: $32.6MINGN FY2021: $18.2MINGN FY2022: -$40.9MINGN FY2023: -$8.5MINGN FY2024: $2.6MINGN FY2025: -$13.7MZBH FY2018: $1.6BZBH FY2019: $1.4BZBH FY2020: $1.1BZBH FY2021: $1.4BZBH FY2022: $1.2BZBH FY2023: $1.3BZBH FY2024: $1.3BZBH FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
INGN -$13.7MZBH $1.5B

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

Questions about Inogen and Zimmer Biomet

Which is bigger by revenue, Inogen or Zimmer Biomet?

Zimmer Biomet is bigger by revenue: $8.2B in fiscal 2025, against $348.7M for Inogen in fiscal 2025.

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

Inogen had a net margin of -6.5% in fiscal 2025; Zimmer Biomet had 8.6% in fiscal 2025.

Which grew revenue faster, Inogen or Zimmer Biomet?

In their latest fiscal years revenue changed by +3.9% at Inogen 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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