Is the business good?
How good a business is GMED?
Globus Medical, Inc. earns 10% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
10%
Return on invested capital · cost of capital 9.0% · 1.3 points above what the capital costs: growth creates value
- Operating margin
- 17%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Cash conversion
- 1.04×
Cash conversion · 2.82× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −1.1%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 14% |
| FY2021 | 18% |
| FY2022 | 22% |
| FY2023 | 8.5% |
| FY2024 | 6.6% |
| FY2025 | 16% |
Details›
- Gross margin12 months to Q1 2026
- 68%
- Operating margin12 months to Q1 2026
- 17%
- Net margin12 months to Q1 2026
- 19%
- Free cash flow margin
- 20%
- R&D as % of revenue
- 4.9%
- Revenue, trailing twelve months
- $3.10B
- Free cash flow, trailing twelve months
- $610M
- Net income, trailing twelve months
- $587M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.