olivLaw · US equity research
Globus Medical, Inc. GMED
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
Globus Medical is a medical technology company that develops and sells solutions for musculoskeletal disorders, notably in spine surgery, orthopedic trauma and assisted navigation and robotics. In the second quarter of 2026 the company reported worldwide net sales growth of 5.9%, and its full-year 2026 revenue guidance is in the range of 3.18 to 3.22 billion dollars.
At the close of 04 Nov 2026, Globus Medical, Inc. (GMED) stock was 87.10 USD (+9.45% on the day), with market capitalisation 11.7 bn USD, P/E 22.3 on diluted EPS of 3.91 USD over the last 12 months, beta 0.98, 52-week range 61.51–96.82 USD. Latest reported quarter (Q2 2026): revenue of 789.6 m USD (+5.9% YoY), net income of 151.6 m USD (−25.3% YoY), diluted EPS 1.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 67.5
- strong (55–70)
- Bollinger (20, 2)
- 72.64 – 85.34
- above the upper band · %B 1.14 · band width 16.1%
- SMA 50 / 200
- 77.46 / 83.33
- mixed trend
- MACD (12, 26, 9)
- 1.54 / 1.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.8% | −1.1% | +14.8 pp | — |
| 3 months | +8.1% | −0.5% | +8.6 pp | — |
| 6 months | −2.4% | +4.4% | −6.8 pp | — |
| Year to date | −0.2% | +12.3% | −12.6 pp | — |
| 1 year | +41.3% | +13.5% | +27.7 pp | −3.6% |
| 3 years | +85.4% | +76.4% | +8.9 pp | −16.1% |
| 5 years | +11.1% | +63.7% | −52.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 625.7 m | 657.3 m | 598.1 m | 745.3 m | 769.0 m | 826.4 m | 759.9 m | 789.6 m |
| Cost of revenue | 270.5 m | 263.4 m | 195.4 m | 248.8 m | 252.5 m | 261.1 m | 234.1 m | 241.4 m |
| Research & development | 35.4 m | 33.4 m | 33.1 m | 40.0 m | 38.1 m | 36.2 m | 36.5 m | 36.3 m |
| SG&A | 240.1 m | 253.2 m | 242.8 m | 303.6 m | 313.6 m | 318.5 m | 297.8 m | 286.8 m |
| Operating income | 48.1 m | 60.3 m | 97.0 m | 76.1 m | 137.4 m | 169.3 m | 150.4 m | 182.4 m |
| Depreciation & amortisation | 66.9 m ≈ | 67.6 m | 65.7 m | 70.6 m ≈ | 71.5 m ≈ | 69.0 m | 69.9 m | 69.5 m ≈ |
| Pre-tax income | 57.0 m | 24.7 m | 103.7 m | 188.2 m | 144.0 m | 169.2 m | 157.1 m | 189.8 m |
| Income tax | 5.2 m | -1.8 m | 28.2 m | -14.7 m | 25.0 m | 28.6 m | 32.8 m | 38.2 m |
| Net income | 51.8 m | 26.5 m | 75.5 m | 202.8 m | 119.0 m | 140.6 m | 124.3 m | 151.6 m |
| Diluted EPS | 0.38 | 0.19 ≈ | 0.54 | 1.49 | 0.88 | 1.03 ≈ | 0.90 | 1.10 |
| Operating cash flow | 203.7 m ≈ | 210.3 m | 177.3 m | 77.9 m ≈ | 249.7 m ≈ | 248.6 m | 202.4 m | 209.7 m ≈ |
| Capex | 42.0 m ≈ | 17.1 m | 36.1 m | 46.6 m ≈ | 35.8 m ≈ | 46.2 m | 39.6 m | 33.2 m ≈ |
| Share repurchases | 0 ≈ | 1.0 m | 190.5 m | 25.0 m ≈ | 40.0 m ≈ | 45.0 m | 0 | 136.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 10 percentile of its own 39-quarter history (min 18.5, median 37.7, max 222.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 713.0 m | 785.4 m | 789.0 m | 958.1 m | 1.0 bn | 1.6 bn | 2.5 bn | 2.9 bn |
| Revenue YoY | +12.1% | +10.2% | +0.5% | +21.4% | +6.8% | +53.3% | +60.6% | +16.7% |
| Net income | 156.5 m | 155.2 m | 102.3 m | 149.2 m | 190.2 m | 122.9 m | 103.0 m | 537.9 m |
| Net income YoY | +45.8% | −0.8% | −34.1% | +45.9% | +27.5% | −35.4% | −16.2% | +422.3% |
| Diluted EPS | 1.54 | 1.52 | 1.01 | 1.44 | 1.85 | 1.07 | 0.75 | 3.92 |
| Diluted EPS YoY | +40.0% | −1.3% | −33.6% | +42.6% | +28.5% | −42.2% | −29.9% | +422.7% |
| net % | 21.9% | 19.8% | 13.0% | 15.6% | 18.6% | 7.8% | 4.1% | 18.3% |
| Free cash flow | 121.9 m | 101.2 m | 135.1 m | 219.4 m | 104.4 m | 165.2 m | 405.2 m | 588.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 526.2 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 4.6 bn USD
- Total assets
- 5.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- 4.26x
- ROE
- 12.3%
- ROA
- 10.2%
- FCF margin
- 20.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 789.0 m | 958.1 m | 1.0 bn | 1.6 bn | 2.5 bn | 2.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | 217.5 m | 239.2 m | 263.7 m | 548.2 m | 1.0 bn | 957.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | 571.6 m | 718.9 m | 759.1 m | 1.0 bn | 1.5 bn ≈ | 2.0 bn ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Research & development | 84.5 m | 97.3 m | 73.0 m | 124.0 m | 163.8 m | 147.2 m | SEC (XBRL)· 24 Feb 2026verified |
| SG&A | 354.8 m | 408.1 m | 432.1 m | 643.8 m | 981.4 m | 1.2 bn | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | 111.4 m | 172.0 m | 228.0 m | 133.1 m | 166.0 m | 479.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 62.9 m | 69.9 m | 68.3 m | 145.5 m | 253.4 m | 276.8 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | 174.3 m ≈ | 241.8 m ≈ | 296.2 m ≈ | 278.7 m ≈ | 419.4 m ≈ | 756.7 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Pre-tax income | 125.9 m | 180.4 m | 243.0 m | 165.4 m | 120.7 m | 605.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | 23.6 m | 31.2 m | 52.9 m | 42.5 m | 17.7 m | 67.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | 102.3 m | 149.2 m | 190.2 m | 122.9 m | 103.0 m | 537.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | 1.01 | 1.44 | 1.85 | 1.07 | 0.75 | 3.92 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 101.0 m | 103.6 m | 102.6 m | 114.6 m | 137.9 m | 137.1 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 239.4 m | 193.1 m | 150.5 m | 467.3 m | 784.4 m | 526.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 141.7 m | 164.4 m | 213.2 m | 503.2 m | 557.7 m | 678.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Inventories | 229.2 m | 237.0 m | 299.0 m | 848.1 m | 659.2 m | 759.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 821.8 m | 864.5 m | 983.3 m | 1.9 bn | 2.2 bn | 2.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 216.9 m | 221.1 m | 243.7 m | 586.9 m | 561.9 m | 564.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Goodwill | 156.7 m | 179.7 m | 197.5 m | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 86.9 m | 68.7 m | 63.6 m | 924.6 m | 795.1 m | 745.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 1.7 bn | 2.0 bn | 2.1 bn | 5.1 bn | 5.3 bn | 5.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 18.2 m | 22.0 m | 36.1 m | 56.7 m | 75.1 m | 98.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 120.8 m | 140.2 m | 159.2 m | 392.3 m | 855.9 m | 498.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 173.2 m | 215.9 m | 229.8 m | 1.1 bn | 1.1 bn | 729.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 1.5 bn † | 1.7 bn † | 1.8 bn † | 4.0 bn † | 4.2 bn † | 4.6 bn † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 198.8 m | 276.3 m | 178.5 m | 243.5 m | 520.6 m | 753.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 63.7 m | 56.9 m | 74.0 m | 78.3 m | 115.4 m | 164.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | 135.1 m ≈ | 219.4 m ≈ | 104.4 m ≈ | 165.2 m ≈ | 405.2 m ≈ | 588.8 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Investing cash flow | -117.3 m | -375.9 m | -110.4 m | 303.0 m | -176.1 m | -355.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | -38.7 m | 54.1 m | -110.0 m | -231.8 m | -27.7 m | -679.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 104.7 m | — | 144.5 m | 225.6 m | 85.8 m | 300.5 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 11.7 bn USD
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 86.14 – 150.91 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E86.14 – 150.91 (Mid 116.83)12 companies used · median multiple 29.9x · quartiles 22.0x – 38.6xBDX, BSX, DXCM, GCTK, HAE, LMAT, MMM, PODD, RMD, SYK, UTMD, WST
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 17.0% | 81 (vs peers) | 11% |
| FCF conversion · Quality | 141.1% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 42.2% | 100 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | 28.4% | 100 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.6x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 22.3x | 73 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 6.5% | 81 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 1.9% | 27 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality91/100 · 2/3 factors with a value
- Returns· partial27/100 · 1/2 factors with a value
- Valuation77/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GLOBUS MEDICAL, INC. (GMED). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.9 bn USD in 2025; YoY growth 16.7%; net margin 17.0%; ROE 11.8%.
The estimated value range is 86.14–150.91 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 116.83 USD, the price of 87.10 USD leaves a potential of 34.1% (value / price − 1) and a margin of safety of 25.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 17.0%
- FCF conversion: 141.1%
- Revenue CAGR 3Y: 42.2%
- EPS CAGR 3Y: 28.4%
- Current ratio: 4.6x
- P/E (TTM): 22.3x
- FCF yield: 6.5%
What contradicts it
- Shareholder yield (distributions): 1.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 129.3 bn | 36.2 | 16.0% | 13.8% | +11.2% | −8% / +15% |
| MMM3m Company | 100.2 bn | 28.9 | 80.8% | 14.0% | +1.5% | +13% / +134% |
| BSXBoston Scientific Corporation | 66.4 bn | 19.4 | 14.3% | 16.6% | +19.9% | −55% / −18% |
| BDXBecton, Dickinson And Company | 57.0 bn | 63.2 | 3.8% | 4.0% | +8.2% | +37% / +13% |
| RMDResMed Inc. | 33.8 bn | 21.9 | 26.4% | 27.8% | +9.9% | −6% / +52% |
| DXCMDexcom, Inc. | 33.0 bn | 34.8 | 37.7% | 19.4% | +15.6% | +39% / −23% |
| WSTWest Pharmaceutical Services, Inc. | 28.5 bn | 45.9 | 21.2% | 18.8% | +6.3% | +47% / +17% |
| GKOSGLAUKOS Corp | 14.6 bn | — | -22.8% | -24.6% | +32.3% | +132% / +286% |
| BAXBaxter International Inc. | 13.7 bn | — | -10.5% | -6.2% | +5.7% | +41% / −27% |
| GMEDGlobus Medical, Inc. | 11.7 bn | 22.3 | 11.8% | 17.0% | +16.7% | +41% / +85% |
| PODDInsulet Corporation | 11.4 bn | 26.9 | 28.9% | 13.4% | +30.7% | −50% / −13% |
| TFXTeleflex Incorporated | 6.4 bn | — | -28.9% | -45.8% | +17.2% | +31% / −34% |
| HAEHaemonetics Corporation | 5.8 bn | 62.3 | 11.2% | 7.1% | −2.0% | +57% / +58% |
| ICUIIcu Medical Inc | 4.3 bn | 144.2 | 1.4% | 1.4% | −6.3% | +16% / +97% |
| LMATLemaitre Vascular, Inc. | 2.0 bn | 30.9 | 16.8% | 25.0% | +13.5% | +6% / +67% |
| KMTSKestra Medical Technologies, Ltd. | 1.8 bn | — | -73.7% | -140.4% | +59.0% | +13% / unavailable |
| IARTIntegra Lifesciences Holdings Corp | 1.2 bn | 88.3 | 1.2% | 0.8% | +1.5% | +13% / −62% |
| SIBNSi-Bone, Inc. | 1.1 bn | — | -7.7% | -6.2% | +20.2% | +28% / +32% |
| MDXGMimedx Group, Inc. | 467.0 m | — | -8.5% | -6.3% | +20.0% | −53% / −59% |
| CARLCarlsmed, Inc. | 439.3 m | — | -6,196.9% | -57.4% | +85.9% | −1% / unavailable |
| BWAYBrainsway Ltd. | 439.0 m | 224.2 | 5.6% | 7.1% | +29.0% | +28% / +258% |
| OFIXOrthofix Medical Inc. | 395.9 m | — | -13.9% | -7.4% | +2.9% | −40% / −12% |
| CTSOCytosorbents Corporation | 286.6 m | — | -336.2% | -48.9% | +4.1% | −72% / −81% |
| UTMDUtah Medical Products, Inc. | 230.6 m | 22.1 | 8.8% | 29.0% | −5.8% | +29% / −14% |
| LUNGPulmonx Corporation | 123.2 m | — | -90.3% | -47.9% | +8.0% | +75% / −74% |
1- and 3-year price returns: for GMED from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 58.06 Total return -33% · Per year -33% | 102.18 Total return 17% · Per year 17% | 153.26 Total return 76% · Per year 76% |
| 3 years | 68.87 Total return -21% · Per year -8% | 135.13 Total return 55% · Per year 16% | 220.70 Total return 153% · Per year 36% |
| 5 years | 81.69 Total return -6% · Per year -1% | 178.71 Total return 105% · Per year 15% | 317.81 Total return 265% · Per year 30% |
- Exit P/E± 33.78
- Net margin± 23.65
- Annual revenue growth± 17.64
- Annual dilution± 1.99
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Globus Medical is a medical technology company that develops and sells solutions for musculoskeletal disorders, notably in spine surgery, orthopedic trauma and assisted navigation and robotics. In the second quarter of 2026 the company reported worldwide net sales growth of 5.9%, and its full-year 2026 revenue guidance is in the range of 3.18 to 3.22 billion dollars 123.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Reimbursement dependencehigh
Sales depend on coverage from government and private payors, and cuts in payments could limit sales 1.
- Acquisition integrationmedium
Integrating acquired companies could prove harder than expected and reduce the anticipated benefits 1.
- Currency riskmedium
International revenue could be affected by exchange rate movements when converted into dollars 13.
- Litigation and regulationmedium
The company could face litigation or regulatory actions that could involve significant costs 1.
- Supplier dependencelow
Losing key suppliers or a supply interruption could affect production and deliveries 1.
Investment thesis
What would need to be true (bull case)
- If growth in the U.S. spine segment continues, the company could keep growing above its market, as it reported in the second quarter of 2026 3.
- The broad portfolio and pace of product launches could support new sources of revenue 1.
- Margin expansion and synergy effects could lift profitability if the trend holds 3.
What would break the thesis
- Pricing and reimbursement pressure could limit margins, especially if competition intensifies 1.
- The gap between GAAP and non-GAAP results could make the underlying performance hard to judge without careful analysis 3.
- If acquisition integration or currency movements turn unfavorable, results could come in below the company's expectations 13.
What to watch
- Delivery of the 3.18 to 3.22 billion dollar revenue guidance2026
- U.S. sales trend and growth in the spine segmentQ3 2026
- International sales share and the effect of exchange ratesnext 10-Q
- Integration of Nevro and operating synergies2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Globus Medical, headquartered in Audubon, Pennsylvania and founded in 2003, develops medical devices for treating musculoskeletal disorders 1. The company groups its portfolio into two major categories, Musculoskeletal Solutions and Enabling Technologies, and launched 9 products in 2025 1. Sales run through an exclusive direct and distributor sales force, and international sales were about 19.4% of total in 2025 1.
The strategy rests on rapid product launches, expanding the U.S. sales force, growing international presence and strategic acquisitions 1. The NuVasive acquisition in 2023 and the Nevro acquisition in 2025 extended the portfolio into spine surgery and neuromodulation 12. In the first half of 2026 the international share of net sales rose to about 21.0% 2.
In the second quarter of 2026 U.S. net sales rose 3.0% and international net sales rose 18.0% as reported, while GAAP net income fell from the prior year because of a bargain purchase gain booked in 2025 3. Non-GAAP diluted earnings per share rose over the same period, which shows how the accounting measures differ 3.
Segments
Musculoskeletal Solutions
This category includes implants, biologics, surgical instruments, spinal cord stimulation therapy and neuromonitoring services used in spine, orthopedic and neurosurgical procedures 1. It also covers orthopedic trauma and hip and knee arthroplasty products 1. It is the core of the company's activity 1.
Market context
The primary market is the United States, where sales run through direct and exclusive distributor representatives, and the company says there is room to grow by expanding its sales force 12. Outside the U.S., Globus had a direct or distributor presence in 64 countries at the end of 2025 1. International sales in the first half of 2026 were about 21.0% of the total, while the number of countries served fell to about 61 2.
Sales are affected by seasonality tied to holidays and insurance deductibles, and navigation equipment depends on long capital purchase cycles 2. Coverage and reimbursement from payors, including government programs, directly affect access to products 1.
Trends
- Consolidation through acquisitionstailwind
Integrating NuVasive and Nevro has expanded the sales force and portfolio, which could support growth if the integration runs efficiently 13.
- Pricing and reimbursement pressureheadwind
Competitive intensity and payor reimbursement policies could reduce prices and margins for the company 1.
- International expansionmixed
A rising share of international sales points to growth potential, although currency changes can affect results reported in dollars 23.
- Innovation in assisted technologiestailwind
New product launches and the integration of artificial intelligence and augmented reality in navigation could open new market segments 12.
Competitive position
The company describes the musculoskeletal devices market as intensely competitive, with many new companies and technologies that could increase pricing pressure 1. Competitors include established firms and newer companies offering similar solutions in spine surgery and orthopedics 1.
The company cites its product breadth, exclusive sales force and rapid development as advantages, but competitive pressure could weigh on margins if prices fall 13.
- Established spinal implant manufacturers
Direct competitors in implants and instruments for spine surgery, referred to generically in the company's sources.
- Spinal cord stimulation companies
Competitors in neuromodulation for chronic pain, a segment the company entered through the Nevro acquisition.
- Surgical navigation and robotics producers
Competitors in navigation and robotic solutions, a segment the company describes as still in its infancy.
- Orthopedic and arthroplasty companies
Competitors in orthopedic trauma and hip and knee implants, segments included in the company's portfolio.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Former German Chancellor Gerhard Schröder visits Moscow and meets Globus employees after becoming head of the hypermarket chain’s supervisory boardMeduza English (independent RU/exile) · 07 Oct 2026 · EN
- Герхард Шредер встретился в Москве с руководством сети Globus в РоссииKommersant (RU) · 07 Oct 2026 · RU
- Экс-канцлер ФРГ Шрёдер осмотрел магазин Globus в России. ФоторепортажRBC News (RU business+politics) · 07 Oct 2026 · RU
- Экс-канцлер ФРГ Герхард Шредер побывал в гипермаркете Globus. ВидеоRBC News (RU business+politics) · 07 Oct 2026 · RU
- Экс-канцлер ФРГ Шредер побывал в гипермаркете GlobusRBC News (RU business+politics) · 07 Oct 2026 · RU
- Оператор разбил шампанское во время прогулки Шредера по Globus. ВидеоRBC News (RU business+politics) · 07 Oct 2026 · RU
- Герхард Шрёдер встретился с сотрудниками сети Globus в РоссииRBC News (RU business+politics) · 07 Oct 2026 · RU
- Герхард Шрёдер встретился с сотрудниками сети Globus в РоссииRBC News (RU business+politics) · 07 Oct 2026 · RU
- Fostul cancelar german Gerhard Schroder se alătură consiliului de supraveghere al grupului de retail Globus din RusiaFinancial Intelligence (RO) · 02 Oct 2026 · RO
- Экс-канцлер ФРГ Герхард Шрёдер вошел в набсовет сети Globus в РоссииKommersant (RU) · 02 Oct 2026 · RU
- Экс-канцлер Германии Шредер вошел в набсовет ритейлера Globus в РФInterfax Russia (RU) · 02 Oct 2026 · RU
- German retailer Globus stayed in Russia after the full-scale invasion. Now its Russian arm has put former German Chancellor Gerhard Schröder on its supervisory board.Meduza English (independent RU/exile) · 02 Oct 2026 · EN
- Fostul cancelar german Gerhard Schröder va coordona dezvoltarea rețelei rusești de hipermarketuri GlobusG4Media · 02 Oct 2026 · RO
- Va veni sau nu gigantul Globus în România? Primele declarații oficiale ale companiei-mamă din Germania, după știrea care a făcut valuri în retailul localMediafax · 02 Sept 2026 · RO
- SURPRIZĂ Rival al Lidl și Kaufland ia în calcul România. Gigantul Globus, cu zeci de hipermarketuri, a venit deja la BucureștiHotNews.ro · 21 Aug 2026 · RO
SEC filings
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report04 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement24 Apr 2026
- Current report23 Mar 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report24 Feb 2026
- Current report24 Feb 2026Results of operations · Financial statements and exhibits
- Current report07 Jan 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Globus Medical, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Globus Medical, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Globus Medical, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.