Pricing Log in Create free account
Friday 6 November 2026 Export CNMD’s income statement to Excel — free account

CONMED Corporation

CNMD Healthcare Medical Devices

CONMED Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 5.18% from fiscal 2024.

Revenue
−0.70%
EPS
+635.0%
Free cash flow
−3.65%
Total debt
−4.44%

Quarter to September 2026, against a year earlier

51.47 1.36 −2.57%
Market cap
$1.6B
P/E
21.7×
Fwd P/E
11.7×
Dividend yield
0.00%
F-score
5/9
Altman Z
1.86
Beneish M
−2.70
Dividend safety
63/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.79%

Capital & Financial Ratios $m

Size
Market Cap 1,570.00
Revenue ttm 1,369.29
Net income ttm 73.43
Free cash flow ttm 132.69
Net debt Q 767.89
Valuation
P/E 21.71
Forward P/E 11.70
Price / sales 1.15
Forward P/S Powerpack
Price / FCF 11.86
Price / book 1.48
Financial health
Current ratio Q 1.49
Debt / equity Q 0.77
Interest coverage Q 3.34
Growth
Revenue growth Q −0.70% (below 0%: shrinking)
Operating income growth Q +212.69% (above 0%: growing)
EPS, this year −0.37% (below 0%: weak)
EPS, next year A +3.84%
Revenue, next year A −0.85% (below 0%: weak)
EPS, past 5 yrs +36.38% (at or above 15%: strong)
EPS, next 5 yrs A +4.78%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 2.8×; over the ten years it ranged from 1.3× in 2026 to 5.4× in 2021.
P/E against its own 10 years 16.64%
10-year low 10-year high
P/S against its own 10 years 10.67%
10-year low 10-year high
P/B against its own 10 years 10.23%
10-year low 10-year high
EV/Sales against its own 10 years 10.41%
10-year low 10-year high
EV/FCF against its own 10 years 15.84%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2017–25
−3.53%/yr
  1. 0.80 ’17
  2. 0.80 ’18 +0
  3. 0.80 ’19 +0
  4. 0.80 ’20 +0
  5. 0.80 ’21 +0
  6. 0.80 ’22 +0
  7. 0.80 ’23 +0
  8. 0.80 ’24 +0
  9. 0.60 ’25 −25
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 24 24 41 48
Receivables 242 238 248 234
Inventory 318 347 356 363
Other — — — —
616 640 673 682
2023 2024 2025 Q'26
Payables 88 102 94 98
ST’ Debt 1 1 1 180
Other 152 110 139 104
311 278 315 459

Compound Annual Growth %

10y 5y 3y
Sales 6.69% 9.77% 9.56%
Cash Flow 12.86% 21.48% 72.31%
Earnings 4.43% 37.66% 0.00%
Book Value 5.85% 7.82% 11.49%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.00 Actual 1.04

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.32 1.43 Beat by 0.11
Q1 FY26 0.82 0.89 Beat by 0.07
Q2 FY26 1.10 1.38 Beat by 0.28
Q3 FY26 1.00 1.04 Beat by 0.04
Q4 FY26 1.27 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.45 0.77 0.66 — —
’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
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 317 343 336 — —
’25 321 342 338 373 1,375
’24 312 332 317 346 1,307
’23 295 318 305 327 1,245
’22 242 277 275 251 1,045
’21 233 255 249 274 1,011
’20 214 158 238 253 862
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 13 37 49 — —
’25 42 29 54 46 171
’24 29 43 51 43 167
’23 (4) 27 46 56 125
’22 0 19 26 (12) 33
’21 22 34 21 34 112
’20 4 6 35 20 65
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 11 34 47 — —
’25 38 23 48 41 151
’24 27 40 48 39 154
’23 (8) 22 41 52 106
’22 (3) 13 19 (17) 12
’21 19 31 16 31 97
’20 1 2 32 17 52
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 764 796 860 955 862 1,011 1,045 1,245 1,307 1,375 1,369 +6.8% 1,363 1,426 1,500 +2.9%
Gross margin, % 53.48 54.12 54.57 54.94 53.37 56.21 54.64 54.33 56.08 54.59 57.57 +1.1 pt
EBT 19 29 51 31 2 73 (71) 81 163 71 105 +15.5%
EBT margin, % 2.54 3.61 5.89 3.27 0.19 7.23 (6.78) 6.49 12.47 5.17 7.67 +2.6 pt
Net income 15 55 41 29 10 63 (81) 64 132 47 73 +13.8%
Per share, $
Per share, $ Revenue 27.46 28.50 30.57 33.72 30.18 34.66 34.80 40.59 42.37 44.29 45.76 +5.5%
Earnings 0.53 1.99 1.45 1.01 0.33 2.14 (2.68) 2.10 4.29 1.52 2.42 +12.4%
Cash flow 1.43 2.35 2.66 3.36 2.26 3.83 1.11 4.09 5.41 5.50 4.89 +16.1%
Capex (0.53) (0.46) (0.59) (0.71) (0.46) (0.51) (0.73) (0.62) (0.42) (0.64) (0.46) +2.1%
Free cash flow 0.90 1.89 2.07 2.65 1.80 3.32 0.39 3.47 4.99 4.86 4.43 +20.6%
Book value 20.88 22.60 23.55 25.08 24.81 26.93 24.82 27.20 31.21 33.29 35.42 +5.3%
Shares, m 28 28 28 28 29 29 30 31 31 31 30 +1.2%
Valuation, ×
Valuation, × P/E 84.98 25.43 43.97 109.64 339.39 66.24 0.00 52.19 15.95 26.89 21.71 76.5
P/S 1.61 1.78 2.10 3.32 3.71 4.09 2.58 2.71 1.62 0.92 1.15 2.4
P/B 2.12 2.24 2.73 4.46 4.51 5.26 3.62 4.05 2.19 1.22 1.48 3.2
EV/Sales 2.23 2.35 2.61 4.09 4.55 4.75 3.56 3.48 2.29 1.49 1.71 3.1
EV/FCF 67.64 35.43 38.57 52.09 76.23 49.51 321.41 40.70 19.45 13.61 17.65 71.5
Cash, $m
Cash, $m Operating cash flow 40 66 75 95 65 112 33 125 167 171 146 +17.5%
Capex (15) (13) (17) (20) (13) (15) (22) (19) (13) (20) (14) +3.3%
Free cash flow 25 53 58 75 52 97 12 106 154 151 133 +22.0%
Balance, $m
Balance, $m Working capital 217 207 213 209 226 263 285 305 362 358 223 +5.7%
Net debt 471 454 439 743 726 664 1,026 950 881 794 768 +6.0%
Shareholders’ equity 581 631 662 710 709 785 746 834 963 1,033 1,060 +6.6%
Returns, %
Returns, % ROA 1.21 4.13 3.00 1.82 0.54 3.56 (3.97) 2.80 5.75 2.03 3.17 +0.8 pt
ROIC 2.24 2.70 4.05 3.40 2.00 4.73 2.47 4.23 6.79 3.51 4.64 +1.3 pt
ROE 2.52 9.16 6.32 4.17 1.34 8.37 (10.53) 8.16 14.74 4.72 7.10 +2.2 pt
People
People Employees 3,300 3,100 3,100 3,300 3,400 3,800 4,100 4,000 3,900 3,900 — +1.9%
Revenue/emp, $m 0.23 0.26 0.28 0.29 0.25 0.27 0.25 0.31 0.34 0.35 — +4.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

CONMED Corporation vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
INSP Inspire Medical Systems, Inc. $1.9B 19.1× — (loss-making) −7.93% (below 0%: shrinking) n/m −33.06% (below 0%: shrinking) 86.05% (13.89%) Compare
ESTA Establishment Labs Holdings Inc. $1.9B — (loss-making) — (loss-making) +31.66% (above 0%: growing) n/m +2.75% (above 0%: growing) 70.64% (6.35%) Compare
ALMR Alamar Biosciences, Inc. $1.9B — (loss-making) — (loss-making) +156.24% (above 0%: growing) n/m −20.26% (below 0%: shrinking) 61.54% (45.13%) Compare
ENOV Enovis Corporation $1.7B — (loss-making) 98.6× +1.79% (above 0%: growing) n/m +20.30% (above 0%: growing) 60.83% 0.60% Compare
BFLY Butterfly Network, Inc. $1.6B — (loss-making) — (loss-making) +51.70% (above 0%: growing) n/m +12.61% (above 0%: growing) 73.02% (41.66%) Compare
NVCR NovoCure Limited $1.6B — (loss-making) — (loss-making) +15.67% (above 0%: growing) n/m +5.54% (above 0%: growing) 76.98% (3.19%) Compare
CNMD CONMED Corporation $1.6B 21.7× 11.7× −0.70% (below 0%: shrinking) +635.00% (above 0%: growing) −3.65% (below 0%: shrinking) 56.37% 11.07%
TNDM Tandem Diabetes Care, Inc. $1.3B — (loss-making) — (loss-making) +13.82% (above 0%: growing) n/m −231.98% (below 0%: shrinking) 56.55% (0.84%) Compare
AORT Artivion, Inc. $1.2B — (loss-making) — (loss-making) +11.32% (above 0%: growing) n/m −202.47% (below 0%: shrinking) 64.03% (6.65%) Compare
Median of peers $1.6B — — +14.75% — −8.75% 67.34% (6.50%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 7 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.63m 2.52m 37.86
2024 7.37m (4.77m) 63.84
2023 7.76m 13.28m 101.04
2022 7.84m (8.29m) 81.19
2021 9.37m 23.17m 128.81
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

CONMED Corporation (CNMD) Latest News

3 Nov

Impact 3 · · StockStory

29 Oct

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby

28 Oct

Impact 4 · · Business Wire earnings
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press

27 Oct

Impact 3 · · StockStory

18 Aug

Impact 4 ·

17 Aug

Impact 3 ·
Impact 3 ·

30 Jul

Impact 4 ·
Impact 3 ·

29 Jul

Impact 4 ·
Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

28 Jul

Impact 4 ·

23 Jul

Impact 3 ·

22 Jul

Impact 3 ·

13 Jul

Impact 4 · · Stocktwits
Impact 4 ·

10 Jul

Impact 4 · · Stocktwits

29 Jun

Impact 3 ·

1 Jun

Impact 3 · · Simply Wall St.

4 May

Impact 4 · · Simply Wall St.

2 May

Impact 4 · · StockStory

30 Apr

Impact 4 · · Moby
stockrow.com/CNMD · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com