| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 2 | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | ‡‡‡‡‡ |
|
| 2025 | 0.60 |
—
—
—
|
| 2024 | 0.80 |
—
—
—
—
|
| 2023 | 0.80 |
—
—
—
—
|
| 2022 | 0.80 |
—
—
—
—
|
| 2021 | 0.80 |
—
—
—
—
|
| 2020 | 0.80 |
—
—
—
—
|
| 2019 | 0.80 |
—
—
—
—
|
| 2018 | 0.80 |
—
—
—
—
|
| 2017 | 0.80 |
—
—
—
—
|
| 2016 | 0.80 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 24.30 | 24.46 | 40.82 | 37.33 |
| Receivables | 242.28 | 237.73 | 247.83 | 239.77 |
| Inventory | 318.32 | 346.72 | 355.54 | 360.18 |
| Other | — | — | — | — |
| 615.65 | 640.01 | 672.86 | 675.67 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 88.22 | 102.25 | 93.65 | 101.02 |
| ST’ Debt | 0.71 | 0.72 | 0.71 | 177.20 |
| Other | 151.73 | 109.80 | 138.54 | 106.77 |
| 310.73 | 278.13 | 315.04 | 455.40 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 317.05 | 343.49 | — | — |
—
|
| ’25 | 321.26 | 342.35 | 337.93 | 373.20 |
1,374.72
|
| ’24 | 312.27 | 332.10 | 316.70 | 345.94 |
1,307.02
|
| ’23 | 295.47 | 317.65 | 304.58 | 327.05 |
1,244.74
|
| ’22 | 242.33 | 277.19 | 275.09 | 250.87 |
1,045.47
|
| ’21 | 232.68 | 255.16 | 248.83 | 273.97 |
1,010.64
|
| ’20 | 214.01 | 157.79 | 237.84 | 252.83 |
862.46
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 13.47 | 37.10 | — | — |
—
|
| ’25 | 41.53 | 29.13 | 53.69 | 46.34 |
170.69
|
| ’24 | 29.12 | 43.31 | 51.20 | 43.34 |
166.97
|
| ’23 | (3.85) | 26.67 | 46.13 | 56.40 |
125.35
|
| ’22 | 0.33 | 18.74 | 25.89 | (11.60) |
33.37
|
| ’21 | 22.34 | 34.28 | 21.36 | 33.79 |
111.77
|
| ’20 | 3.72 | 5.54 | 35.13 | 20.15 |
64.53
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 10.58 | 34.16 | — | — |
—
|
| ’25 | 37.76 | 23.41 | 48.50 | 41.22 |
150.88
|
| ’24 | 27.09 | 39.72 | 47.78 | 39.30 |
153.88
|
| ’23 | (8.10) | 22.14 | 40.73 | 51.54 |
106.32
|
| ’22 | (3.36) | 13.03 | 19.18 | (17.27) |
11.58
|
| ’21 | 19.24 | 31.29 | 15.79 | 30.60 |
96.90
|
| ’20 | 0.90 | 1.79 | 31.84 | 17.00 |
51.52
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.45 | 0.77 | — | — |
—
|
| ’25 | 0.19 | 0.69 | 0.09 | 0.54 |
1.51
|
| ’24 | 0.63 | 0.96 | 1.57 | 1.08 |
4.25
|
| ’23 | 0.06 | 0.43 | 0.50 | 1.05 |
2.04
|
| ’22 | 0.47 | (5.65) | 1.48 | 0.86 |
(2.68)
|
| ’21 | 0.31 | 0.41 | 0.47 | 0.75 |
1.94
|
| ’20 | 0.20 | (0.96) | 0.23 | 0.81 |
0.32
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71.09 | 88.01 | 61.05 | 38.32 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 155.51 | 138.47 | 113.68 | 74.70 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,100 | 4,000 | 3,900 | 3,900 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.25 | 0.31 | 0.34 | 0.35 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,045.47 | 1,244.74 | 1,307.02 | 1,374.72 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 54.64% | 54.33% | 56.08% | 54.59% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (70.86) | 80.83 | 163.03 | 71.12 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.78%) | 6.49% | 12.47% | 5.17% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (80.58) | 64.46 | 132.42 | 47.06 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 74.43 | 77.93 | 77.56 | 79.93 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.80 | 40.59 | 42.37 | 44.29 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | (2.68) | 2.10 | 4.29 | 1.52 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.11 | 4.09 | 5.41 | 5.50 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.73) | (0.62) | (0.42) | (0.64) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.39 | 3.47 | 4.99 | 4.86 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.82 | 27.20 | 31.21 | 33.29 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.04 | 30.67 | 30.85 | 31.04 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.00 | 52.19 | 15.95 | 26.89 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.58 | 2.71 | 1.62 | 0.92 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.62 | 4.05 | 2.19 | 1.22 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.56 | 3.48 | 2.29 | 1.49 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 321.41 | 40.70 | 19.45 | 13.61 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 33.37 | 125.35 | 166.97 | 170.69 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (21.78) | (19.03) | (13.08) | (19.81) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.58 | 106.32 | 153.88 | 150.88 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 284.67 | 304.92 | 361.88 | 357.82 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,054.82 | 973.85 | 905.78 | 834.94 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,025.88 | 949.55 | 881.32 | 794.13 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 745.55 | 834.22 | 962.68 | 1,033.10 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.97%) | 2.80% | 5.75% | 2.03% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 2.47% | 4.23% | 6.79% | 3.51% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (10.53%) | 8.16% | 14.74% | 4.72% | ‡‡‡‡‡ | — | — |
ROE
|
CONMED Corporation (CNMD) has delivered impressive revenue growth, expanding 71% from $764 million in 2016 to $1.31 billion in 2024 through product innovation and acquisitions like In2Bones, while maintaining strong operational efficiency with revenue per share up 54% and per employee rising 45%. However, the stock has suffered a sharp 70% drawdown from its 2021 peak of $159, reflecting 2022’s goodwill impairment-driven net loss, rising debt, and post-pandemic volatility—leaving it trading at deeply discounted multiples like 1.6x sales and 19x FCF compared to medtech peers.
Balance sheet dynamics show promise amid caution: free cash flow per share surged over 1,200% to $4.99 in 2024, enabling 14% debt reduction to $906 million and ROE recovery to 14.7%, yet insider selling (no buys) and projected 2026 revenue dip (-1%) signal near-term headwinds like reimbursement pressures and rate sensitivity. Analyst targets imply modest 8% mean upside, with valuations suggesting undervaluation but vulnerable to COVID-like stalls.
This quantitative deep dive uncovers mean-reversion potential in CNMD’s fundamentals—blending DCF upside of 15-25% with FCF strength—while flagging downside risks; read the full analysis for detailed projections, correlations, and prudent entry strategies.
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