Globus Medical, Inc.GMED
NYSE•Healthcare•Medical Devices
Globus Medical, Inc. develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products comprising traditional fusion implants, such as pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices; treatment options for motion preservation technologies consisting of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and biologic solutions, such as allografts and synthetic alternatives. It also provides orthopedic trauma solutions, including limb reconstruction, fracture plating, intramedullary nailing, external fixation, and compression screw technologies; hip and knee arthroplasty solutions, including modular cement and cementless hip stems, acetabular cups, femoral heads, highly cross-linked liners, partial knee systems, cruciate retaining, posterior stabilized, and revision options; spinal cord stimulation services; and neuromonitoring services, which provide onsite and remote monitoring of the neurological systems. In addition, the company offers ExcelsiusGPS platform, a robotic guidance and navigation system for minimally invasive and open procedures; Surgimap, a surgical planning software platform; Excelsius3D, a platform combined with ExcelsiusGPS that provides an intraoperative and image-guided robotic navigation solution; ExcelsiusHub, which provides real-time patient array monitoring, tissue sparing drills, and registration flexibility; and ExcelsiusFlex, a total knee arthroplasty robotic solution. Further, it distributes human cells, tissues, and cellular and tissue-based products. The company sells its products through direct and distributor sales representatives; and independent sales agents. Globus Medical, Inc. was incorporated in 2003 and is headquartered in Audubon, Pennsylvania.
Globus Medical, Inc. (GMED) reported trailing twelve months revenue of $3.10B as of March 2026, a 23.5% increase year-over-year. Quarterly revenue reached $759.85M, reflecting continued top-line momentum.
Globus Medical, Inc. generated $586.71M in TTM net income, with quarterly EBITDA of $220.24M. The operating margin expanded from 16.2% to 19.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (19.8%) and net margin (16.4%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 12.6% a year ago, signaling stronger bottom-line efficiency.
GMED trades at a P/E of 19.3x (in line with broad market averages) and a P/S of 3.6x. The price-to-book ratio of 2.4x reflects a moderate premium to book value.
The company generated $162.75M in free cash flow over the trailing twelve months, a 15.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.44B in total assets with no in long-term debt against $4.73B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~13.7%, suggesting durable pricing power and cost discipline.
ROE is positive at ~6.5% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~38.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.1% — no sign of cost or pricing stress.
FCF covers net income by 2.2x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.