Globus Medical (GMED) financial statements
Globus Medical reported revenue of $2.9B in fiscal 2025, up 20.1% a year over 9 years.
Net income was $538M and the operating margin 16.3%, against 27.3% in 2016.
Free cash flow was $589M, and the company returned $300M in net buybacks.
The diluted share count rose 42% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Globus Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $564M | $636M | $713M | $785M | $789M | $958M | $1.0B | $1.6B | $2.5B | $2.9B |
| Cost of revenue | $135M | $150M | $159M | $180M | $217M | $239M | $264M | $548M | $1.0B | $958M |
| Gross profit | $429M | $486M | $554M | $605M | $572M | $719M | $759M | $1.0B | $1.5B | $2.0B |
| Research and development | $45M | $44M | $55M | $60M | $85M | $97M | $73M | $124M | $164M | $147M |
| Selling, general and admin | $222M | $268M | $312M | $355M | $355M | $408M | $432M | $644M | $981M | $1.2B |
| Operating income | $154M | $162M | $169M | $172M | $111M | $172M | $228M | $133M | $166M | $480M |
| Pre-tax income | $157M | $170M | $189M | $190M | $126M | $180M | $243M | $165M | $121M | $605M |
| Income tax | $53M | $63M | $32M | $35M | $24M | $31M | $53M | $43M | $18M | $67M |
| Net income | $104M | $107M | $156M | $155M | $102M | $149M | $190M | $123M | $103M | $538M |
| EPS (diluted) | $1.08 | $1.10 | $1.54 | $1.52 | $1.01 | $1.44 | $1.85 | $1.07 | $0.75 | $3.92 |
| Diluted shares | 96M | 98M | 101M | 102M | 101M | 104M | 103M | 115M | 138M | 137M |
| Gross margin | 76.1% | 76.3% | 77.6% | 77.1% | 72.4% | 75.0% | 74.2% | 65.1% | 58.9% | 67.4% |
| Operating margin | 27.3% | 25.4% | 23.7% | 21.9% | 14.1% | 17.9% | 22.3% | 8.5% | 6.6% | 16.3% |
| Net margin | 18.5% | 16.9% | 21.9% | 19.8% | 13.0% | 15.6% | 18.6% | 7.8% | 4.1% | 18.3% |
Balance sheet
Fiscal years, from Globus Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $290M | $374M | $340M | $311M | $427M | $443M | $446M | $518M | $890M | $557M |
| Receivables | $92M | $117M | $137M | $154M | $142M | $164M | $213M | $503M | $558M | $679M |
| Inventory | $113M | $108M | $131M | $196M | $229M | $237M | $299M | $848M | $659M | $759M |
| Total current assets | $514M | $620M | $631M | $687M | $822M | $865M | $983M | $1.9B | $2.2B | $2.1B |
| Property, plant and equipment | $124M | $143M | $172M | $200M | $217M | $221M | $244M | $587M | $562M | $564M |
| Goodwill | $106M | $124M | $124M | $129M | $157M | $180M | $197M | $1.4B | $1.4B | $1.4B |
| Total assets | $928M | $1.1B | $1.3B | $1.5B | $1.7B | $2.0B | $2.1B | $5.1B | $5.3B | $5.3B |
| Total current liabilities | $80M | $93M | $96M | $111M | $121M | $140M | $159M | $392M | $856M | $498M |
| Total liabilities | $96M | $111M | $115M | $130M | $173M | $216M | $230M | $1.1B | $1.1B | $730M |
| Shareholders' equity | $832M | $968M | $1.2B | $1.4B | $1.5B | $1.7B | $1.8B | $4.0B | $4.2B | $4.6B |
| Net debt | -$67M | -$119M | -$140M | -$195M | -$239M | -$193M | -$150M | -$467M | -$784M | -$526M |
Cash flow
Fiscal years, from Globus Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $148M | $159M | $182M | $172M | $199M | $276M | $178M | $243M | $521M | $753M |
| Capital spending | $41M | $51M | $60M | $71M | $64M | $57M | $74M | $78M | $115M | $165M |
| Free cash flow | $107M | $108M | $122M | $101M | $135M | $219M | $104M | $165M | $405M | $589M |
| Stock-based compensation | $11M | $15M | $22M | $26M | $27M | $31M | $33M | $53M | $54M | $50M |
| Share buybacks (net) | — | — | — | — | -$105M | — | -$144M | -$226M | -$86M | -$300M |
| Free cash flow margin | 19.0% | 16.9% | 17.1% | 12.9% | 17.1% | 22.9% | 10.2% | 10.5% | 16.1% | 20.0% |
Questions
What was Globus Medical's revenue in 2025?
$2.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Globus Medical generate?
$589M in fiscal 2025 (operating cash flow minus capital spending).
From Globus Medical's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.