CONMED Corporation (CNMD) vs Enovis Corporation (ENOV)

CONMED Corporation and Enovis Corporation are both Medical Devices companies. CONMED Corporation is the larger, with a market value of $1.4B against $1.1B — 1.3× the size. Enovis Corporation has negative trailing earnings, so its P/E is not meaningful; CONMED Corporation trades at 25.3×. Enovis Corporation grew revenue faster over the last twelve months: 4.89% against 3.42%. CONMED Corporation has the higher net margin (4.12% vs −48.0%) and the higher return on invested capital (3.75% vs −23.6%). Across the 21 metrics below, CONMED Corporation leads on 12 and Enovis Corporation on 9.

Valuation

Metric CNMD ENOV Medical Devices median
P/E 25.25 n/m 23.22
P/S 1.02 0.49 2.34
P/B 1.35 0.76 2.33
Price to free cash flow 10.45 17.73 23.72
EV/EBITDA 11.54 7.77 11.54
EV/Sales 1.61 1.05 2.24
Earnings yield 3.96% (98.32%) (10.09%)
Free cash flow yield 9.57% 5.64% (8.47%)

Profitability

Metric CNMD ENOV Medical Devices median
Gross margin 55.79% 61.09% 56.01%
Operating margin 8.04% (45.14%) (15.03%)
Net margin 4.12% (47.97%) (20.40%)
Free cash flow margin 9.80% 2.77% (7.24%)
Return on equity 5.53% (54.27%) (15.32%)
Return on assets 2.44% (25.07%) (19.72%)
Return on invested capital 3.75% (23.55%) (10.33%)

Growth

Metric CNMD ENOV Medical Devices median
Revenue growth (TTM) 3.42% 4.89% 8.80%
EPS growth (last fiscal year) (64.47%) (38.98%) 29.03%
Revenue growth, 5-year CAGR 9.77% 14.94% 15.47%
Net income growth, 5-year CAGR 37.66% 0.00% 0.00%

Health

Metric CNMD ENOV Medical Devices median
Debt to equity 0.80 0.87 0.07
Current ratio 1.48 1.98 2.50
Net debt to EBITDA 4.35 5.73 0.49

Dividend

Metric CNMD ENOV Medical Devices median
Dividend yield 0.00% — 1.16%
Payout ratio 0.00 — 0.36

Size

Metric CNMD ENOV Medical Devices median
Market cap 1.41b 1.12b 167.06m

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