At a glance
Globus Medical is worth $10.91B, about 21 times its fiscal 2025 earnings. Revenue grew 16.7% to $2.94B in fiscal 2025, with 18.3% kept as profit; over 5 years it has grown 30.1% a year. It pays no dividend; it spent $756.3M buying back its shares over FY2021–FY2025. The stock returned +29.5% over the past year with dividends reinvested and +1.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.0% in the 2020 crash (S&P 500: 33.7%) and 34.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 29 months after the lows.
The business in plain English
Globus Medical, based in Audubon, Pennsylvania, makes medical devices for musculoskeletal disorders, meaning problems with the spine, bones and joints. The company was founded in 2003. Its customers are hospitals, ambulatory surgery centers (outpatient surgery clinics) and surgeons. It reports one business segment but groups its products into two categories. Musculoskeletal Solutions includes spinal screws, rods and spacers, bone-graft materials, fracture plates and nails, hip and knee implants, spinal cord stimulators for chronic pain and nerve-monitoring services during spine surgery. Enabling Technologies is surgical equipment that hospitals pay for out of their capital budgets, with service after the sale.
The company makes money by supplying these implants, instruments, equipment and services. Its own sales representatives and exclusive independent distributors market the products, and the distributors earn a commission based on sales. The United States produced 80.6% of 2025 revenue, about $2.37 billion. International markets produced 19.4%, through a sales presence in 64 other countries.
Acquisitions have reshaped the business. Spine specialist NuVasive joined in September 2023, paid for in Globus shares. Nevro, a maker of spinal cord stimulation systems for chronic pain, was acquired for cash in April 2025. Revenue reached $2.94 billion in 2025, up 16.7% from 2024 and up from $789 million in 2020. Globus launched 9 new products in 2025, including Excelsius XR and Reline 3D Towers.
Price history
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GMED +29.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By geography
| United States | $2.37B | 80.6% |
| International | $571.3M | 19.4% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $789.6M, up 5.9% from a year earlier, and net income was $151.6M (-25.3%).
- For fiscal 2025, revenue was $2.94B (+16.7% year over year; +30.1% a year from FY2020 to FY2025) with a 18.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +30.1% good |
|---|---|
| Operating margin | 16.3% good |
| Free cash flow margin | 20% good |
| Return on equity (FY2025) | 11.8% watch |
| Return on assets (FY2025) | 10.1% good |
| Cash and investments | $840.5M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $789.0M | $102.3M | $135.1M |
| FY2021 | $958.1M | $149.2M | $219.4M |
| FY2022 | $1.02B | $190.2M | $104.4M |
| FY2023 | $1.57B | $122.9M | $165.2M |
| FY2024 | $2.52B | $103.0M | $405.2M |
| FY2025 | $2.94B | $537.9M | $588.8M |
Valuation snapshot
| Market value | $10.91B |
|---|---|
| P/E ratio | 20.7 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Globus Medical’s market value went from $2.38B at the end of 2016 to $10.91B on Oct 28, 2026, about 4.6 times as much; since the end of 2025 it is down 7%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $10.91B | -6.6% |
| 2025 | $11.69B | +3.8% |
| 2024 | $11.26B | +53.4% |
| 2023 | $7.34B | -1.0% |
| 2022 | $7.42B | +1.2% |
| 2021 | $7.33B | +13.8% |
| 2020 | $6.44B | +9.5% |
| 2019 | $5.88B | +37.9% |
| 2018 | $4.26B | +7.6% |
| 2017 | $3.96B | +66.6% |
| 2016 | $2.38B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GMED price data to Oct 28, 2026 | -6.9% | +29.5% | +21.2% | +1.1% | +13.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -6.9% |
| 2025 | +5.6% |
| 2024 | +55.2% |
| 2023 | -28.3% |
| 2022 | +2.9% |
| 2021 | +10.7% |
| 2020 | +10.8% |
| 2019 | +36.0% |
| 2018 | +5.3% |
| 2017 | +65.7% |
| 2016 | -10.8% |
| 2015 | +17.0% |
| 2014 | +17.8% |
| 2013 | +92.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.3% over that stretch · deepest drop along the way 38%, back to its old high 4.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.9% over that stretch · deepest drop along the way 34.8%, back to its old high 28.7 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 8 sales ($10.1M), 5 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 15, 2026 | James R Tobin Director | sell | $2.2M |
| Aug 18, 2026 | Stephen T Zarrilli Director | sell | $2.2M |
| Jun 5, 2026 | David D Davidar Director | sell | $2.0M |
| Feb 25, 2026 | Kelly Huller EVP, GC, Corporate Secretary | sell (plan) | $1.9M |
| Feb 12, 2026 | Kelly Huller EVP, GC, Corporate Secretary | sell (plan) | $877K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8% | Sep 30, 2026 |
| JANUS HENDERSON GROUP PLC | 6.1% | Mar 31, 2025 |
| Vanguard Capital Management | 4.43% | Sep 30, 2026 |
ETFs with the most weight in GMED
| TMFM Motley Fool Mid-Cap Growth ETF | 4.76% |
| TMFS Motley Fool Small-Cap Growth ETF | 4.45% |
| EKG First Trust Nasdaq Lux Digital Health Solutions ETF | 4.18% |
| MDEV First Trust Indxx Medical Devices ETF | 2.45% |
| QMOM Alpha Architect U.S. Quantitative Momentum ETF | 2.11% |
| RFG Invesco S&P MidCap 400® Pure Growth ETF | 2.04% |
| XHE SPDR S&P Health Care Equipment ETF | 1.91% |
| DTEC ALPS Disruptive Technologies ETF | 1.11% |
What could go wrong
- Absorbing two large acquisitions. Globus took on NuVasive in 2023 and Nevro in 2025. The company warns that combining these businesses may cost more or take longer than expected, and the hoped-for benefits may not arrive.
- Leadership change at the top. The former chief executive resigned and a new one was appointed. The company says a poorly managed handover, or losing other key leaders and advisors, could hurt the business.
- Insiders control major decisions. Globus is a "controlled company" under New York Stock Exchange rules, so it can skip some governance requirements. The Executive Chairman and other insiders own enough stock to steer major corporate decisions.
- Uneven equipment sales and service costs. Enabling Technologies products are big-ticket capital equipment with long, unpredictable hospital purchase cycles, so results can swing from quarter to quarter. Heavy service needs or warranty claims after the sale could raise costs.
- Pressure on prices and reimbursement. Competitors, customers and merging hospital groups all push prices lower. Physician-owned distributorships, where surgeons profit from implants they use, add pressure. Weak insurance reimbursement for hospitals could also limit what Globus can charge.
- Short clinical track record and recall risk. Globus says its products are not yet backed by long-term clinical data, so they could prove less safe or effective than thought. A recall, voluntary or ordered by regulators, could do significant harm.
Recent events
- Quarterly results released
- Executive or board change; Shareholder vote results
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Quarterly results released
- Quarterly results released
For income and retirement investors
Globus Medical pays no dividend and paid none in fiscal 2021 through 2025, so the stock provides no regular income. Any return comes from changes in the share price, and raising cash means giving up shares. The company has returned cash through share repurchases instead: $756 million over those five years, including $300 million in 2025. Even so, the share count rose 32% between November 2, 2021 and August 4, 2026, largely because the NuVasive deal was paid in Globus shares.
The stock has fallen sharply in market downturns. In the 2020 COVID crash it dropped 38% between February 19 and March 16, 2020. It regained its peak by August 6, 2020, about 4.7 months after the low. In the 2022 market slump it fell 34.8% between April 20 and June 16, 2022. It took about 28.7 months from the low, until November 6, 2024, to recover. A single stock like Globus carries more risk than a diversified fund.
Questions investors ask
Does Globus Medical pay a dividend?
No. Globus Medical paid no dividends in fiscal 2021 through 2025 and had no dividend yield as of October 28, 2026. It returns cash through share repurchases instead, spending $756 million on them over those five years. For retirees who want regular income, any return from this stock would come from price changes, and those have been large. As of October 28, 2026, its one-year volatility, a measure of how widely the price swings, was 44.8%.
How does Globus Medical make money?
Globus Medical makes money by supplying products for spine, bone and joint surgery to hospitals, outpatient surgery centers and surgeons. Its Musculoskeletal Solutions include spinal implants, fracture devices, hip and knee implants, bone-graft materials, spinal cord stimulators for chronic pain and nerve monitoring during operations. Its Enabling Technologies are surgical equipment that hospitals pay for out of their capital budgets. In 2025, revenue was $2.94 billion, with 80.6% from the United States and 19.4% from international markets.
Why did Globus Medical acquire NuVasive and Nevro?
The deals widened Globus Medical's product range and sales reach. NuVasive, a spine technology company, joined in September 2023, with each NuVasive share exchanged for 0.75 Globus shares. It added surgical access tools, implants, imaging and nerve-monitoring services. Nevro followed in April 2025 for $5.85 per Nevro share in cash. It added spinal cord stimulation systems that treat chronic pain with electrical impulses. Both deals also enlarged the US sales force. Globus warns that integrating acquisitions may be harder or costlier than expected.
How has Globus Medical stock performed?
Unevenly. As of October 28, 2026, the share price had risen 29.5% over one year. Over 10 years it rose 13.8% a year, a 264% total gain, but over five years only 1.1% a year. Calendar years ranged from a 28.3% loss in 2023 to a 55.2% gain in 2024. For 2026 through October 28, the stock was down 6.9%. Over the past 14 years, its deepest fall from a peak was 47.9%. These are price returns only, since Globus pays no dividend.
What is Globus Medical's P/E ratio?
About 20.7 as of October 28, 2026. The price-to-earnings (P/E) ratio compares the share price with a year's profit per share, here 2025 earnings of $3.92 per diluted share. The company's market value was about $10.9 billion. That ratio needs context. Net income jumped 422% to $538 million in 2025 and was higher than operating income of $480 million, so some profit came from outside day-to-day operations. In the quarter ended June 30, 2026, revenue rose 5.9% but net income fell 25.3% from a year earlier.