ZIMMER BIOMET HOLDINGS, INC. (ZBH)

Orthopedic, Prosthetic & Surgical Appliances & Supplies

Latest Price

$96.54

TTM P/E

23.43

Normalized P/E

29.24

Div Yield

0.99%

Book Value

65.21

P/B Ratio

1.48

Valuation metrics

EPS: $3.55

Book value / share: $63.90

Formula: √(22.5 × EPS × BVPS)

Graham Number

$71.44

26% downside

Norm. op. income: $1.1B (median of 7yr)

Tax rate: 13%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$16.35

83% downside

Base FCF: $1.3B (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$82.85

14% downside

EPS: $3.55

Target P/E: 29×

Formula: EPS × P/E

P/E Fair Value

$102.95

+7% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Dodge & Cox	24.12M	$2.08B	12.55%	+582.0K	2026-06-30
BlackRock, Inc.	15.61M	$1.34B	8.12%	+274.0K	2026-06-30
HARRIS ASSOCIATES L P	12.74M	$1.10B	6.63%	-221.9K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	12.63M	$1.09B	6.57%	-158.5K	2026-06-30
Capital International Investors	12.18M	$1.05B	6.34%	+3.06M	2026-06-30
STATE STREET CORP	8.88M	$766.0M	4.62%	+52.0K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	8.44M	$726.0M	4.39%	-208.5K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	5.35M	$458.0M	2.78%	-30.3K	2026-06-30
PRICE T ROWE ASSOCIATES INC /MD/	4.80M	$412.0M	2.50%	-3.20M	2026-06-30
Invesco Ltd.	3.98M	$342.0M	2.07%	+374.4K	2026-06-30