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Maker of spine surgery implants and instruments plus surgical robotics/navigation for orthopedic and neurosurgery.
Maker of spine surgery implants and instruments plus surgical robotics/navigation for orthopedic and neurosurgery.
Spine implants sell on consignment: Globus keeps sets in hospitals and is paid when a surgeon uses a piece, with independent distributors and its own reps earning commissions, so each surgeon's preference drives sales. Excelsius robots are sold or leased to hospitals to pull through implants. The 2023 merger with NuVasive combined two large spine-implant sellers.
Moat: narrow (installed base, switching costs, IP / patents). Growing surgical-robotics installed base and a broad spine-implant portfolio following the NuVasive merger.
Headquarters: Audubon, Pennsylvania, USA · Founded: 2003 · Employees: 6,000
Size Globus Medical (GMED) is a United States Health Care company (Medical Specialties) with a market value of $9.54B, the 800th largest of 3,117 United States companies the cockpit tracks. Shares closed at $71.05 on 6 Nov 2026.
Performance Over six months the shares fell 8.8%, against +35.0% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 19.7% over the last twelve months (peer median +4.6%); the operating margin is 21.5% (peer median 13.6%).
Valuation It trades at 14.1× forward earnings against a peer median of 20.4× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +30%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.8 points above its cost of capital (9.7% WACC).
Credit Globus Medical has 1 bond outstanding ($401M).
Short interest Short interest is 7.3% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.14B | $2.94B | $2.52B | $1.57B | $1.02B |
| Revenue growth | — | +17% | +61% | +53% | — |
| Gross profit | $2.04B | $1.86B | $1.36B | $969M | $741M |
| EBITDA | $958M | $818M | $486M | $347M | $305M |
| Net income | $535M | $538M | $103M | $123M | $190M |
| Free cash flow | $756M | $589M | $405M | $165M | $104M |
| Capital expenditure | $155M | $174M | $115M | $78.3M | $74.0M |
| Total debt | $112M | $119M | $538M | $521M | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Globus Medical GMED | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% |
| Medtronic MDT | $130B | +35% | +10% | 20% | 16.9× | 8.6% |
| Stryker SYK | $124B | +14% | +8% | 25% | 20.4× | 10.6% |
| Zimmer Biomet ZBH | $20.1B | +29% | +7% | 16% | 12.0× | -1.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GMED | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.1% | +12.2% | 2nd lowest of 21 |
| 6-month return | -8.8% | +35.0% | lowest of 21 |
| Distance from 52-week high | -29.9% | -12.0% | 4th lowest of 21 |
| Revenue growth (TTM) | +19.7% | +4.6% | 3rd highest of 21 |
| Operating margin | 21.5% | 13.6% | 3rd highest of 21 |
| Forward P/E | 14.1× | 20.4× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.5% | 10.3% | 5th least demanding of 20 |
| Growth delivered (Del g) | +30.1% | +9.3% | highest of 20 |
| Hurdle (Req g minus delivered) | -24.6 pp | +1.5 pp | least demanding of 20 |
| ROIC minus cost of capital | +2.8 pp | +2.5 pp | 9th highest of 21 |
| EV / EBITDA | 9.5× | 12.8× | 2nd cheapest of 18 |
| Net debt / EBITDA | -0.5× | 1.2× | 4th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |
| Shimadzu 7701.T | Japan | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% | +7.3% |
| Getinge GETI-B.ST | Sweden | $7.73B | +45% | -4% | 14% | 21.0× | 4.7% | +3.2% |
| Align Technology ALGN | United States | $11.8B | -2% | +4% | 19% | 13.9× | 11.4% | +10.3% |
| Cooper Companies (The) COO | United States | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% | +11.0% |
| Olympus 7733.T | Japan | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% | +6.7% |
| bioMerieux BIM.PA | France | $12.4B | +29% | -3% | 15% | 20.9× | 8.9% | +5.5% |
| Penumbra PEN | United States | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% | +20.2% |
| Bausch + Lomb BLCO.TO | Canada | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% | +10.0% |
| Shenzhen New Industries Biomedical Engineering 300832.SZ | China | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% | +15.7% |
| Cochlear COH.AX | Australia | $7.05B | +55% | -1% | 13% | 29.4× | 24.1% | +9.3% |
| Smith & Nephew SN..L | United Kingdom | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% | +5.6% |
| Glaukos GKOS | United States | $13.3B | +68% | +47% | -9% | 155.4× | n/a | n/a |
| Baxter International BAX | United States | $13.3B | +43% | +5% | 6% | 12.6× | 12.7% | -0.7% |
Globus Medical has 1 bond outstanding with $401M face value.