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Zimmer Biomet Holdings (XSWX:ZBH) EBIT : CHF1,138 Mil (TTM As of Dec. 2023)


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What is Zimmer Biomet Holdings EBIT?

Zimmer Biomet Holdings's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was CHF290 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was CHF1,138 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Zimmer Biomet Holdings's annualized ROC % for the quarter that ended in Dec. 2023 was 12.14%. Zimmer Biomet Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 30.20%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Zimmer Biomet Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.16%.


Zimmer Biomet Holdings EBIT Historical Data

The historical data trend for Zimmer Biomet Holdings's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Zimmer Biomet Holdings EBIT Chart

Zimmer Biomet Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,112.99 94.97 651.52 529.43 1,097.00

Zimmer Biomet Holdings Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -30.00 310.04 295.69 243.16 289.54

Competitive Comparison of Zimmer Biomet Holdings's EBIT

For the Medical Devices subindustry, Zimmer Biomet Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Zimmer Biomet Holdings's EV-to-EBIT Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Zimmer Biomet Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Zimmer Biomet Holdings's EV-to-EBIT falls into.



Zimmer Biomet Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF1,138 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Zimmer Biomet Holdings  (XSWX:ZBH) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Zimmer Biomet Holdings's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

ROC % (Q: Dec. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2023 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=1455.632 * ( 1 - -47.52% )/( (18449.357 + 16919.379)/ 2 )
=2147.3483264/17684.368
=12.14 %

where

Invested Capital(Q: Sep. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=19087.083 - 374.953 - ( 262.773 - max(0, 1863.521 - 3933.051+262.773))
=18449.357

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=18590.519 - 1311.556 - ( 359.584 - max(0, 2471.08 - 3986.296+359.584))
=16919.379

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Zimmer Biomet Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1158.14/( ( (1828.167 + max(2126.115, 0)) + (1781.834 + max(1933.952, 0)) )/ 2 )
=1158.14/( ( 3954.282 + 3715.786 )/ 2 )
=1158.14/3835.034
=30.20 %

where Working Capital is:

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1206.094 + 2090.041 + 374.143) - (374.953 + 0 + 1169.21)
=2126.115

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1247.388 + 2062.721 + 316.603) - (1311.556 + 0 + 381.204)
=1933.952

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Zimmer Biomet Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=1138.431/27396.257
=4.16 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Zimmer Biomet Holdings EBIT Related Terms

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Zimmer Biomet Holdings (XSWX:ZBH) Business Description

Traded in Other Exchanges
Address
345 East Main Street, Warsaw, IN, USA, 46580
Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants, as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two thirds of total revenue is derived from sales of large joints, another quarter comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022.