CONMED Corporation (CNMD) vs Tandem Diabetes Care, Inc. (TNDM)

CONMED Corporation and Tandem Diabetes Care, Inc. are both Medical Devices companies. CONMED Corporation is the larger, with a market value of $1.4B against $1.2B — 1.2× the size. Tandem Diabetes Care, Inc. has negative trailing earnings, so its P/E is not meaningful; CONMED Corporation trades at 25.3×. Tandem Diabetes Care, Inc. grew revenue faster over the last twelve months: 3.96% against 3.42%. CONMED Corporation has the higher net margin (4.12% vs −6.08%) and the higher return on invested capital (3.75% vs −10.3%). Across the 19 metrics below, CONMED Corporation leads on 13 and Tandem Diabetes Care, Inc. on 6.

Valuation

Metric CNMD TNDM Medical Devices median
P/E 25.25 n/m 23.22
P/S 1.02 1.07 2.34
P/B 1.35 8.56 2.33
Price to free cash flow 10.45 n/m 23.72
EV/EBITDA 11.54 n/m 11.54
EV/Sales 1.61 1.21 2.24
Earnings yield 3.96% (5.75%) (10.09%)
Free cash flow yield 9.57% (8.59%) (8.47%)

Profitability

Metric CNMD TNDM Medical Devices median
Gross margin 55.79% 56.01% 56.01%
Operating margin 8.04% (4.40%) (15.03%)
Net margin 4.12% (6.08%) (20.40%)
Free cash flow margin 9.80% (2.56%) (7.24%)
Return on equity 5.53% (48.03%) (15.32%)
Return on assets 2.44% (6.24%) (19.72%)
Return on invested capital 3.75% (10.33%) (10.33%)

Growth

Metric CNMD TNDM Medical Devices median
Revenue growth (TTM) 3.42% 3.96% 8.80%
EPS growth (last fiscal year) (64.47%) (106.80%) 29.03%
Revenue growth, 5-year CAGR 9.77% 15.26% 15.47%
Net income growth, 5-year CAGR 37.66% 0.00% 0.00%

Health

Metric CNMD TNDM Medical Devices median
Debt to equity 0.80 4.62 0.07
Current ratio 1.48 3.18 2.50
Net debt to EBITDA 4.35 (0.10) 0.49

Dividend

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

Size

Metric CNMD TNDM Medical Devices median
Market cap 1.41b 1.15b 167.06m

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