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MSA Safety vs Zimmer Biomet: revenue, profit, margins and growth compared

MSA Safety brought in $1.9B of revenue in fiscal 2025, Zimmer Biomet $8.2B in fiscal 2025. Revenue changed by +3.7% at MSA Safety and +7.2% at Zimmer Biomet on the year before, so Zimmer Biomet grew faster. MSA Safety kept 14.9% of its revenue as net profit, Zimmer Biomet 8.6%. Free cash flow was $295.4M at MSA Safety and $1.5B at Zimmer Biomet.

Side by side, latest fiscal year

MSAZBH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.9B$8.2B
Revenue growth+3.7%+7.2%
Net income$278.9M$705.1M
Net margin14.9%8.6%
Free cash flow$295.4M$1.5B
Free cash flow margin15.8%17.9%
Earnings per share (diluted)$7.09$3.55
Cash$165.1M$591.9M
Debt$580.9M$7.5B
Price to earnings25.725.8
Market value$7B$17.5B
Dividend yield1.15%1.05%
Rank by revenue in sector#120 of 742 · Health care#53 of 742 · Health care

Over the years

Revenue
MSA FY2018: $1.4BMSA FY2019: $1.4BMSA FY2020: $1.3BMSA FY2021: $1.4BMSA FY2022: $1.5BMSA FY2023: $1.8BMSA FY2024: $1.8BMSA FY2025: $1.9BZBH FY2018: $7.9BZBH FY2019: $8BZBH FY2020: $6.1BZBH FY2021: $6.8BZBH FY2022: $6.9BZBH FY2023: $7.4BZBH FY2024: $7.7BZBH FY2025: $8.2BFY18FY19FY20FY21FY22FY23FY24FY25
MSA $1.9BZBH $8.2B
Net income
MSA FY2018: $124.2MMSA FY2019: $138MMSA FY2020: $124.1MMSA FY2021: $21.3MMSA FY2022: $179.6MMSA FY2023: $58.6MMSA FY2024: $285MMSA FY2025: $278.9MZBH FY2018: -$379.2MZBH FY2019: $1.1BZBH FY2020: -$138.9MZBH FY2021: $401.6MZBH FY2022: $231.4MZBH FY2023: $1BZBH FY2024: $903.8MZBH FY2025: $705.1MFY18FY19FY20FY21FY22FY23FY24FY25
MSA $278.9MZBH $705.1M
Net margin
MSA FY2018: 9.1%MSA FY2019: 9.8%MSA FY2020: 9.2%MSA FY2021: 1.5%MSA FY2022: 11.8%MSA FY2023: 3.3%MSA FY2024: 15.8%MSA FY2025: 14.9%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
MSA 14.9%ZBH 8.6%
Revenue growth
MSA FY2019: +3.2%MSA FY2020: -3.8%MSA FY2021: +3.9%MSA FY2022: +9.1%MSA FY2023: +17.0%MSA FY2024: +1.1%MSA FY2025: +3.7%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
MSA +3.7%ZBH +7.2%
Free cash flow
MSA FY2018: $229.9MMSA FY2019: $128.4MMSA FY2020: $157.7MMSA FY2021: $155.3MMSA FY2022: $114.9MMSA FY2023: $50.1MMSA FY2024: $242.2MMSA FY2025: $295.4MZBH FY2018: $1.6BZBH FY2019: $1.4BZBH FY2020: $1.1BZBH FY2021: $1.4BZBH FY2022: $1.2BZBH FY2023: $1.3BZBH FY2024: $1.3BZBH FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
MSA $295.4MZBH $1.5B

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

Questions about MSA Safety and Zimmer Biomet

Which is bigger by revenue, MSA Safety or Zimmer Biomet?

Zimmer Biomet is bigger by revenue: $8.2B in fiscal 2025, against $1.9B for MSA Safety in fiscal 2025.

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

MSA Safety had a net margin of 14.9% in fiscal 2025; Zimmer Biomet had 8.6% in fiscal 2025.

Which grew revenue faster, MSA Safety or Zimmer Biomet?

In their latest fiscal years revenue changed by +3.7% at MSA Safety 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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