How do Welltower and Zimmer Biomet compare by revenue?

Welltower reported revenue of $3.4B in Q1 FY2026, while Zimmer Biomet reported $2.1B in Q1 FY2026. Welltower is 1.6× larger by last-quarter revenue.

Which is growing revenue faster, Welltower or Zimmer Biomet?

Welltower's latest revenue grew 38.3% year-over-year, versus 9.3% for Zimmer Biomet. Welltower is growing faster on a YoY basis.

Which has a higher net margin, Welltower or Zimmer Biomet?

Welltower's net margin is 22.4% vs Zimmer Biomet's 11.4%. Welltower has the higher bottom-line margin.

What is the 2-year revenue CAGR for Welltower vs Zimmer Biomet?

Over the trailing 8 quarters, Welltower compounded revenue at roughly 55.1% per year, versus 3.7% for Zimmer Biomet. Welltower has the faster medium-term growth trajectory.

Where does this WELL vs ZBH data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Welltower (WELL) and Zimmer Biomet (ZBH). Click either name above to swap in a different company.

Welltower is the larger business by last-quarter revenue ($3.4B vs $2.1B, roughly 1.6× Zimmer Biomet). Welltower runs the higher net margin — 22.4% vs 11.4%, a 11.0% gap on every dollar of revenue. On growth, Welltower posted the faster year-over-year revenue change (38.3% vs 9.3%). Over the past eight quarters, Welltower's revenue compounded faster (55.1% CAGR vs 3.7%).

WelltowerWELLEarnings & Financial Report

NYSE · Real Estate · Health Care REITs

Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. As of December 31, 2022, the company had investments in approximately 3,000 properties, all of which were in the United States, Canada, and the United Kingdom.

Zimmer BiometZBHEarnings & Financial Report

NYSE · Health Care · Orthopedic, Prosthetic & Surgical Appliances & Supplies

Zimmer Biomet Holdings, Inc. is a publicly traded American medical device company. It was founded in 1927 to produce aluminum splints. The firm is headquartered in Warsaw, Indiana, where it is part of the medical devices business cluster.

WELL vs ZBH — Head-to-Head

Bigger by revenue

WELL

1.6× larger

$3.4B

$2.1B

Growing faster (revenue YoY)

WELL

+29.0% gap

38.3%

9.3%

Higher net margin

WELL

11.0% more per $

22.4%

11.4%

Faster 2-yr revenue CAGR

WELL

Annualised

55.1%

3.7%

Income Statement — Q1 FY2026 vs Q1 FY2026

Metric	WELL	ZBH
Revenue	$3.4B	$2.1B
Net Profit	$752.3M	$238.3M
Gross Margin	—	64.6%
Operating Margin	—	17.9%
Net Margin	22.4%	11.4%
Revenue YoY	38.3%	9.3%
Net Profit YoY	192.4%	30.5%
EPS (diluted)	—	$1.22

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue

WELL

ZBH

Q1 26	$3.4B	$2.1B
Q4 25	$2.6B	$2.2B
Q3 25	$2.1B	$2.0B
Q2 25	$2.0B	$2.1B
Q1 25	$1.9B	$1.9B
Q4 24	$1.8B	$2.0B
Q3 24	$1.5B	$1.8B
Q2 24	$1.4B	$1.9B

Net Profit

WELL

ZBH

Q1 26	$752.3M	$238.3M
Q4 25	$117.8M	$139.4M
Q3 25	$282.2M	$230.9M
Q2 25	$304.6M	$152.8M
Q1 25	$257.3M	$182.0M
Q4 24	$123.8M	$239.5M
Q3 24	$456.8M	$249.1M
Q2 24	$260.7M	$242.8M

Gross Margin

WELL

ZBH

Q1 26	—	64.6%
Q4 25	24.3%	64.7%
Q3 25	23.5%	72.1%
Q2 25	23.2%	71.5%
Q1 25	21.6%	71.2%
Q4 24	20.0%	71.0%
Q3 24	19.8%	70.5%
Q2 24	20.2%	71.5%

Operating Margin

WELL

ZBH

Q1 26	—	17.9%
Q4 25	—	6.9%
Q3 25	14.2%	17.6%
Q2 25	15.1%	14.4%
Q1 25	10.7%	15.3%
Q4 24	6.2%	19.2%
Q3 24	12.2%	15.3%
Q2 24	6.5%	18.1%

Net Margin

WELL

ZBH

Q1 26	22.4%	11.4%
Q4 25	4.6%	6.2%
Q3 25	13.7%	11.5%
Q2 25	15.5%	7.4%
Q1 25	13.8%	9.5%
Q4 24	7.0%	11.8%
Q3 24	30.2%	13.7%
Q2 24	18.7%	12.5%

EPS (diluted)

WELL

ZBH

Q1 26	—	$1.22
Q4 25	$0.13	$0.71
Q3 25	$0.41	$1.16
Q2 25	$0.45	$0.77
Q1 25	$0.40	$0.91
Q4 24	$0.20	$1.18
Q3 24	$0.73	$1.23
Q2 24	$0.42	$1.18

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	WELL	ZBH
Cash + ST InvestmentsLiquidity on hand	$4.7B	$424.2M
Total DebtLower is stronger	—	$7.5B
Stockholders' EquityBook value	$44.7B	$12.7B
Total Assets	$67.2B	$22.7B
Debt / EquityLower = less leverage	—	0.59×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

WELL

ZBH

Q1 26	$4.7B	$424.2M
Q4 25	$5.0B	$591.9M
Q3 25	$6.8B	$1.3B
Q2 25	$4.4B	$556.9M
Q1 25	$3.5B	$1.4B
Q4 24	$3.5B	$525.5M
Q3 24	$3.6B	$569.0M
Q2 24	$2.8B	$420.1M

Total Debt

WELL

ZBH

Q1 26	—	$7.5B
Q4 25	$19.2B	—
Q3 25	$16.9B	—
Q2 25	$16.0B	—
Q1 25	$15.7B	—
Q4 24	$15.5B	—
Q3 24	$15.8B	—
Q2 24	$13.9B	—

Stockholders' Equity

WELL

ZBH

Q1 26	$44.7B	$12.7B
Q4 25	$42.1B	$12.7B
Q3 25	$38.8B	$12.8B
Q2 25	$35.9B	$12.5B
Q1 25	$34.0B	$12.4B
Q4 24	$32.0B	$12.5B
Q3 24	$30.3B	$12.4B
Q2 24	$29.0B	$12.7B

Total Assets

WELL

ZBH

Q1 26	$67.2B	$22.7B
Q4 25	$67.3B	$23.1B
Q3 25	$59.5B	$23.5B
Q2 25	$55.8B	$22.9B
Q1 25	$53.3B	$22.2B
Q4 24	$51.0B	$21.4B
Q3 24	$49.0B	$21.7B
Q2 24	$45.5B	$21.5B

Debt / Equity

WELL

ZBH

Q1 26	—	0.59×
Q4 25	0.46×	—
Q3 25	0.43×	—
Q2 25	0.44×	—
Q1 25	0.46×	—
Q4 24	0.49×	—
Q3 24	0.52×	—
Q2 24	0.48×	—

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	WELL	ZBH
Operating Cash FlowLast quarter	—	$359.4M
Free Cash FlowOCF − Capex	—	$245.9M
FCF MarginFCF / Revenue	—	11.8%
Capex IntensityCapex / Revenue	—	—
Cash ConversionOCF / Net Profit	—	1.51×
TTM Free Cash FlowTrailing 4 quarters	—	$1.4B