Financials

Globus Medical Inc. financials

GMED Health Care Equipment and Supplies

Globus Medical Inc. is a US-based medical device company founded in 2003 and headquartered in Audubon, Pennsylvania, specializing in advanced spine surgery implants and robotic navigation systems. Its flagship ExcelsiusGPS platform and comprehensive suite of musculoskeletal products generate revenue through device sales and recurring service contracts. Under CEO Robert Walker, the company competes effectively against larger players in the minimally invasive surgery segment. Continued R&D and international expansion efforts are driving its future growth prospects.

Snapshot

Globus Medical Inc. reported $2.94B in revenue in fiscal 2025, up 16.7% year over year, with an operating margin of 16.3%.

Revenue (FY2025)
$2.94B
YoY growth
+16.7%
Operating margin
16.3%
Direction
Expanding

Financial statements

In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Total Revenues2,938,9302,519,3601,568,4801,022,840
Cost of Sales957,8021,035,480548,174263,725
Gross Profit1,981,1301,483,8801,020,300759,118
Selling, General & Administrative Expenses1,178,500981,362643,844432,117
Depreciation & Amortization Expenses118,194119,37351,03217,735
Research & Development Expenses147,246163,754124,01073,015
Other Operating Expenses57,37553,39668,2748,300
Operating Profit479,816165,991133,142227,951
Non-Operating Income125,252(45,269)32,25115,068
Total Non-Operating Income125,252(45,269)32,25115,068
Income Before Provision for Income Taxes605,068120,722165,393243,019
Provision for Income Taxes67,20017,73842,52052,850
Consolidated Net Income537,868102,984122,873190,169
Net Income Attributable to Common Shareholders537,868102,984122,873190,169
Basic EPS3.980.761.091.89
Diluted EPS3.920.751.071.85
Basic Weighted Average Shares Outstanding135,215135,726113,087100,469
Diluted Weighted Average Shares Outstanding137,056137,863114,630102,643
Shares Outstanding135,055137,420136,336100,192
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents526,156784,438467,292150,466
Short-Term Investments31,087105,61950,497295,592
Total Cash and Cash Equivalents557,243890,057517,789446,058
Accounts Receivable678,938557,697503,235213,247
Other Receivables64,72720,6331,6354,061
Total Trade Receivables743,665578,330504,870217,308
Inventories759,277659,233848,135298,981
Other Current Assets65,42649,64044,58020,997
Total Current Assets2,125,6102,177,2601,915,370983,344
Net Property, Plant & Equipment628,238611,556646,863249,717
Net Intangible Assets745,064795,117924,60363,574
Goodwill1,435,0301,432,3901,434,540197,471
Long-Term Investments71,81966,13475,428495,852
Other Long-Term Assets296,996169,29689,27586,168
Total Assets5,302,7605,251,7505,086,0802,076,130
Accounts Payable98,85275,11856,67136,101
Accrued Expenses337,741271,316244,30593,159
Short-Term Debt—443,351——
Current Portion of Leases14,73810,24911,9672,536
Unearned Revenue27,65522,14018,36914,100
Other Current Liabilities19,51333,73961,03513,308
Total Current Liabilities498,499855,913392,347159,204
Long-Term Debt——417,400—
Leases103,91883,58891,0373,475
Other Long-Term Liabilities127,094134,916187,34067,074
Total Long-Term Liabilities231,012218,504695,77770,549
Total Liabilities729,5111,074,4201,088,120229,753
Common Stock135137136100
Additional Paid-in Capital3,169,8103,031,2402,870,750630,952
Accumulated Other Comprehensive Income15,346(6,861)(10,192)(24,630)
Retained Earnings1,387,9601,152,8101,137,2701,239,950
Total Common Shareholders' Equity4,573,2504,177,3303,997,9601,846,370
Total Shareholders' Equity4,573,2504,177,3303,997,9601,846,370
Total Liabilities and Shareholders' Equity5,302,7605,251,7505,086,0802,076,130
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Income537,868102,984122,873190,169
Depreciation & Amortization276,842253,389145,52668,252
Share-Based Compensation Expense49,77954,19152,74232,810
Other Adjustments(44,247)207,62838,956(7,501)
Changes in Trade Receivables(52,182)(78,062)(49,914)(50,843)
Changes in Inventories(17,598)(29,860)(70,328)(61,745)
Changes in Accounts Payable8,48717,663(14,223)14,418
Changes in Accrued Expenses34,2175,02317,1276,087
Changes in Income Taxes Payable(50,851)(13,377)(408)(2,887)
Changes in Other Operating Activities11,1321,0591,148(10,292)
Cash from Operating Activities753,447520,638243,499178,468
Capital Expenditure(164,679)(115,429)(78,274)(74,047)
Purchases of Intangible Assets(9,746)———
Purchases of Investments(107,531)(113,504)(100,643)(419,534)
Proceeds from Sale of Investments179,48870,517777,913414,654
Payments for Business Acquisitions(252,546)(17,635)(296,028)(31,435)
Cash from Investing Activities(355,014)(176,051)302,968(110,362)
Repayments of Long-Term Debt(449,985)———
Net Issuance / (Repayments) of Long-Term Debt(449,985)———
Issuance of Common Shares89,757110,43912,39741,716
Repurchases of Common Shares(303,360)(92,516)(236,179)(144,493)
Net Issuance / (Repurchases) of Common Shares(213,603)17,923(223,782)(102,777)
Other Financing Activities(15,572)(45,619)(8,039)(7,185)
Cash from Financing Activities(679,160)(27,696)(231,821)(109,962)
Effect of Exchange Rate Changes on Cash and Cash Equivalents22,4452552,180(747)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash(258,282)317,146316,826(42,603)

Key metrics

$11.79B
Market Cap
22.27x
P/E
4.01x
P/S
15.00x
EV/EBITDA
12.3%
Return on Equity
10.2%
Return on Invested Capital
4.26x
Current Ratio
20.0%
Free Cash Flow Margin

Quarterly trend

QuarterRevenueYoY growthOperating marginOperating income
Q1 2026$760M+27.0%19.8%$150M
Q4 2025$826M+25.7%20.5%$169M
Q3 2025$769M+22.9%17.9%$137M
Q2 2025$745M+18.4%10.2%$76M
Q1 2025$598M—16.2%$97M
Q4 2024$657M—9.2%$60M
Q3 2024$626M—7.7%$48M
Q2 2024$630M—7.9%$50M

Margins

67.4%
Gross margin
16.3%
Operating margin
18.3%
Net margin
SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated

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