CONMED (CNMD) Financials

$37.35 +0.71 (+1.93%)

Closing price 03:59 PM Eastern

Extended Trading

$37.32 -0.03 (-0.07%)

As of 07:29 PM Eastern

Annual Income Statements for CONMED

This table shows CONMED's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	30	15	55	41	29	9.52	63	-81	64	132	47
Consolidated Net Income / (Loss)	30	15	55	41	29	9.52	63	-81	64	132	47
Net Income / (Loss) Continuing Operations	30	15	55	41	29	9.52	63	-81	64	132	47
Total Pre-Tax Income	45	19	29	51	31	1.60	73	-71	81	163	71
Total Operating Income	51	38	47	71	79	46	110	70	121	200	103
Total Gross Profit	382	408	431	469	525	460	568	571	676	733	750
Total Revenue	719	764	796	860	955	862	1,011	1,045	1,245	1,307	1,375
Total Cost of Revenue	337	355	365	391	430	402	443	474	568	574	624
Total Operating Expenses	331	371	384	398	446	414	458	501	556	533	648
Selling, General & Admin Expense	303	338	352	356	400	374	415	454	503	478	592
Research & Development Expense	27	32	32	42	45	40	44	47	53	54	56
Total Other Income / (Expense), net	-6.03	-18	-18	-21	-48	-44	-37	-141	-40	-37	-32
Interest Expense	6.03	15	18	21	43	44	35	29	40	37	31
Other Income / (Expense), net	0.00	-2.94	0.00	0.00	-5.19	-0.36	-1.13	-112	0.00	0.00	-0.42
Income Tax Expense	15	4.71	-27	9.80	2.61	-7.91	11	9.72	16	31	24
Basic Earnings per Share	$1.10	$0.53	$1.99	$1.45	$1.01	$0.33	$2.14	($2.68)	$2.10	$4.29	$1.52
Weighted Average Basic Shares Outstanding	27.65M	27.80M	27.94M	28.12M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Diluted Earnings per Share	$1.09	$0.52	$1.97	$1.41	$0.97	$0.32	$1.94	($2.68)	$2.04	$4.25	$1.51
Weighted Average Diluted Shares Outstanding	27.65M	27.80M	27.94M	28.12M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Weighted Average Basic & Diluted Shares Outstanding	27.65M	27.80M	27.94M	28.12M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Cash Dividends to Common per Share	$0.80	$0.80	$0.80	$0.80	$0.80	$0.80	$0.80	$0.80	$0.80	$0.80	$0.60

This table shows CONMED's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	16	33	20	30	49	34	6.04	21	2.86	17	14
Consolidated Net Income / (Loss)	16	33	20	30	49	34	6.04	21	2.86	17	14
Net Income / (Loss) Continuing Operations	16	33	20	30	49	34	6.04	21	2.86	17	14
Total Pre-Tax Income	20	41	25	38	56	44	7.67	30	4.27	29	18
Total Operating Income	30	50	35	47	66	52	16	38	12	37	25
Total Gross Profit	168	182	172	184	179	198	178	188	166	218	183
Total Revenue	305	327	312	332	317	346	321	342	338	373	317
Total Cost of Revenue	137	145	140	148	138	148	144	154	172	155	134
Total Operating Expenses	138	132	137	137	113	146	162	150	154	182	158
Selling, General & Admin Expense	125	118	123	123	100	133	149	136	140	167	142
Research & Development Expense	12	14	14	14	14	13	13	14	14	15	16
Total Other Income / (Expense), net	-10	-9.50	-9.59	-9.59	-9.25	-8.86	-8.29	-8.24	-7.61	-7.37	-7.06
Interest Expense	10	9.50	9.59	9.59	9.25	8.86	8.29	7.82	7.61	7.37	7.06
Income Tax Expense	4.44	7.61	5.71	7.54	7.47	9.89	1.64	8.50	1.41	13	4.53
Basic Earnings per Share	$0.52	$1.07	$0.64	$0.97	$1.59	$1.09	$0.19	$0.69	$0.09	$0.55	$0.45
Weighted Average Basic Shares Outstanding	30.74M	30.78M	30.78M	30.81M	30.86M	30.91M	30.97M	30.95M	30.96M	30.83M	30.59M
Diluted Earnings per Share	$0.50	$1.05	$0.63	$0.96	$1.57	$1.09	$0.19	$0.69	$0.09	$0.54	$0.45
Weighted Average Diluted Shares Outstanding	31.69M	30.78M	31.27M	31.11M	31.11M	30.91M	31.15M	31.05M	31.05M	30.83M	30.62M
Weighted Average Basic & Diluted Shares Outstanding	30.75M	30.78M	30.80M	30.83M	30.89M	30.91M	30.94M	30.95M	30.97M	30.83M	30.11M

This table details how cash moves in and out of CONMED's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	6.17	-45	5.19	-15	8.35	1.50	-6.51	8.10	-4.65	0.16	16
Net Cash From Operating Activities	51	40	66	75	95	65	112	33	125	167	171
Net Cash From Continuing Operating Activities	51	40	66	75	95	65	112	33	125	167	171
Net Income / (Loss) Continuing Operations	30	15	55	41	29	9.52	63	-81	64	132	47
Consolidated Net Income / (Loss)	30	15	55	41	29	9.52	63	-81	64	132	47
Depreciation Expense	19	20	20	19	19	18	16	16	16	17	17
Amortization Expense	25	35	38	43	65	68	68	58	62	61	63
Non-Cash Adjustments To Reconcile Net Income	3.42	6.49	8.47	14	12	13	20	134	24	26	32
Changes in Operating Assets and Liabilities, net	-27	-37	-57	-42	-30	-44	-56	-94	-41	-69	11
Net Cash From Investing Activities	-24	-266	-29	-17	-388	-14	-15	-250	-20	-13	-21
Net Cash From Continuing Investing Activities	-24	-266	-29	-17	-388	-14	-15	-250	-20	-13	-21
Purchase of Property, Plant & Equipment	-15	-15	-13	-17	-20	-13	-15	-22	-19	-13	-20
Other Investing Activities, net	-	-	-	-	-	-	0.00	0.00	-1.00	0.00	-1.15
Net Cash From Financing Activities	-13	183	-35	-72	301	-52	-102	225	-110	-151	-136
Net Cash From Continuing Financing Activities	-13	183	-35	-72	301	-52	-102	225	-110	-151	-136
Repayment of Debt	-121	-179	-168	-181	-651	-228	-451	-911	-764	-820	-798
Payment of Dividends	-22	-22	-22	-22	-23	-23	-23	-24	-25	-25	-25
Issuance of Debt	143	400	155	153	1,002	202	379	1,260	692	751	721
Other Financing Activities, net	-13	-17	0.00	-21	-58	-2.67	-6.22	-102	-14	-57	-34
Effect of Exchange Rate Changes	-7.76	-1.48	3.56	-1.04	-0.01	2.67	-1.87	-0.74	-	-2.72	2.45
Cash Interest Paid	5.43	14	16	20	27	30	22	26	34	33	25

This table details how cash moves in and out of CONMED's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	2.65	-6.21	9.56	-4.99	9.60	-14	11	-1.55	4.99	1.89	-5.79
Net Cash From Operating Activities	46	56	29	43	51	43	42	29	54	46	13
Net Cash From Continuing Operating Activities	46	56	29	43	51	43	42	29	54	46	13
Net Income / (Loss) Continuing Operations	16	33	20	30	49	34	6.04	21	2.86	17	14
Consolidated Net Income / (Loss)	16	33	20	30	49	34	6.04	21	2.86	17	14
Depreciation Expense	3.93	4.05	4.05	4.17	4.20	4.20	4.24	4.47	4.38	4.07	4.17
Amortization Expense	15	15	15	15	15	15	15	15	16	16	16
Non-Cash Adjustments To Reconcile Net Income	6.19	5.92	6.24	6.97	6.12	18	14	5.27	4.59	8.49	1.59
Changes in Operating Assets and Liabilities, net	4.69	-2.10	-16	-13	-23	-28	1.94	-18	26	0.71	-22
Net Cash From Investing Activities	-5.39	-4.86	-2.04	-3.59	-3.42	-4.04	-2.93	-5.73	-5.19	-7.11	4.11
Net Cash From Continuing Investing Activities	-5.39	-4.86	-2.04	-3.59	-3.42	-4.04	-2.93	-5.73	-5.19	-7.11	4.11
Purchase of Property, Plant & Equipment	-5.39	-4.86	-2.04	-3.59	-3.42	-4.04	-3.78	-5.73	-5.19	-5.11	-2.89
Other Investing Activities, net	-	-	0.00	-	-	-	0.85	-	-	-2.00	7.00
Net Cash From Financing Activities	-37	-59	-17	-44	-39	-51	-28	-27	-44	-37	-23
Net Cash From Continuing Financing Activities	-37	-59	-17	-44	-39	-51	-28	-27	-44	-37	-23
Repayment of Debt	-198	-219	-238	-230	-166	-186	-181	-214	-196	-207	-155
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-37
Payment of Dividends	-6.15	-6.15	-6.15	-6.16	-6.16	-6.18	-6.18	-6.19	-6.19	-6.19	0.00
Issuance of Debt	167	180	254	205	142	150	166	201	167	187	181
Other Financing Activities, net	-	-14	-27	-13	-8.66	-8.80	-7.17	-6.93	-8.48	-11	-11
Effect of Exchange Rate Changes	-0.85	1.02	-0.51	-0.62	0.65	-2.24	0.82	1.57	0.02	0.03	-0.81

This table presents CONMED's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,102	1,329	1,358	1,369	1,775	1,752	1,766	2,298	2,300	2,306	2,326
Total Current Assets	360	331	357	374	397	417	460	581	616	640	673
Cash & Equivalents	73	27	33	18	26	27	21	29	24	24	41
Accounts Receivable	134	148	167	182	189	177	184	191	242	238	248
Inventories, net	133	136	141	155	165	195	232	332	318	347	356
Prepaid Expenses	20	19	16	21	18	17	24	29	31	31	29
Plant, Property, & Equipment, net	125	122	116	113	119	111	109	116	121	116	113
Total Noncurrent Assets	616	876	885	882	1,259	1,224	1,197	1,601	1,564	1,550	1,540
Goodwill	261	398	402	400	618	618	618	815	807	805	807
Intangible Assets	308	420	415	413	533	502	471	682	649	618	582
Other Noncurrent Operating Assets	43	56	63	63	102	97	99	94	96	116	150
Total Liabilities & Shareholders' Equity	1,102	1,329	1,358	1,369	1,775	1,752	1,766	2,298	2,300	2,306	2,326
Total Liabilities	517	748	727	707	1,065	1,043	981	1,552	1,466	1,344	1,293
Total Current Liabilities	120	114	150	161	188	190	197	297	311	278	315
Short-Term Debt	1.34	10	15	18	14	18	12	70	0.71	0.72	0.71
Accounts Payable	35	42	42	53	56	53	58	73	88	102	94
Current Employee Benefit Liabilities	32	32	34	43	54	50	60	55	70	65	82
Other Current Liabilities	52	30	59	46	65	68	66	99	152	110	139
Total Noncurrent Liabilities	397	634	577	546	877	852	784	1,255	1,155	1,065	978
Long-Term Debt	269	488	472	439	755	735	672	985	973	905	834
Noncurrent Deferred & Payable Income Tax Liabilities	103	119	78	81	74	58	69	67	61	74	80
Other Noncurrent Operating Liabilities	24	27	27	26	47	59	43	204	121	86	64
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	585	581	631	662	710	709	785	746	834	963	1,033
Total Preferred & Common Equity	585	581	631	662	710	709	785	746	834	963	1,033
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	585	581	631	662	710	709	785	746	834	963	1,033
Common Stock	325	330	334	342	380	383	397	414	447	477	504
Retained Earnings	415	407	440	465	471	457	497	413	453	560	589
Treasury Stock	-101	-97	-94	-89	-81	-68	-54	-23	-15	-16	-13
Accumulated Other Comprehensive Income / (Loss)	-54	-59	-49	-56	-59	-64	-54	-58	-50	-59	-46

This table presents CONMED's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,292	2,320	2,323	2,326	2,309	2,286	2,316	2,298	2,328	2,322	2,315
Total Current Assets	574	610	616	626	636	624	641	639	658	662	671
Cash & Equivalents	33	26	28	31	34	29	38	35	34	39	35
Accounts Receivable	197	213	229	230	241	239	231	221	234	225	229
Inventories, net	305	335	327	326	322	322	343	355	362	364	366
Prepaid Expenses	39	35	31	39	38	33	29	28	27	34	41
Plant, Property, & Equipment, net	114	115	117	120	118	117	117	116	117	112	112
Total Noncurrent Assets	1,604	1,595	1,590	1,580	1,556	1,545	1,557	1,543	1,554	1,548	1,532
Goodwill	814	815	816	815	806	806	807	806	807	807	807
Intangible Assets	689	674	666	657	641	633	626	610	602	593	574
Other Noncurrent Operating Assets	100	106	109	107	108	105	125	127	145	148	152
Total Liabilities & Shareholders' Equity	2,292	2,320	2,323	2,326	2,309	2,286	2,316	2,298	2,328	2,322	2,315
Total Liabilities	1,576	1,568	1,543	1,529	1,455	1,404	1,383	1,320	1,326	1,314	1,297
Total Current Liabilities	209	321	353	376	291	266	282	283	295	315	293
Short-Term Debt	0.24	70	70	71	0.69	0.72	0.72	0.71	0.71	0.75	0.71
Accounts Payable	74	77	79	82	102	101	105	96	101	107	105
Current Employee Benefit Liabilities	54	49	55	60	50	55	61	58	68	76	61
Other Current Liabilities	80	125	150	163	139	109	116	129	125	131	126
Total Noncurrent Liabilities	1,367	1,247	1,189	1,153	1,163	1,137	1,101	1,037	1,031	1,000	1,005
Long-Term Debt	1,036	995	971	942	990	965	940	891	881	853	860
Noncurrent Deferred & Payable Income Tax Liabilities	113	66	66	67	64	65	66	70	70	75	81
Other Noncurrent Operating Liabilities	218	186	152	144	109	107	95	76	80	72	63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	716	752	780	796	855	882	933	978	1,003	1,008	1,018
Total Preferred & Common Equity	716	752	780	796	855	882	933	978	1,003	1,008	1,018
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	716	752	780	796	855	882	933	978	1,003	1,008	1,018
Common Stock	407	420	433	440	458	465	471	489	494	499	509
Retained Earnings	392	408	416	426	466	490	533	560	575	572	603
Treasury Stock	-23	-21	-16	-15	-20	-19	-16	-15	-14	-14	-49
Accumulated Other Comprehensive Income / (Loss)	-60	-55	-53	-54	-50	-54	-55	-57	-53	-49	-45

This table displays calculated financial ratios and metrics derived from CONMED's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.82%	6.17%	4.31%	7.94%	11.11%	-9.70%	17.18%	3.45%	19.06%	5.00%	5.18%
EBITDA Growth	-3.52%	-5.27%	17.15%	26.19%	18.70%	-16.65%	46.76%	-83.20%	511.40%	39.97%	-34.46%
EBIT Growth	-3.05%	-32.13%	35.13%	51.92%	3.68%	-38.24%	137.85%	-138.64%	387.44%	66.10%	-48.98%
NOPAT Growth	-5.04%	-17.52%	217.87%	-36.55%	26.09%	276.70%	-65.64%	-47.76%	96.13%	69.18%	-58.27%
Net Income Growth	-5.26%	-51.92%	278.39%	-26.37%	-29.95%	-66.75%	557.16%	-228.84%	179.99%	105.44%	-64.47%
EPS Growth	-6.03%	-52.29%	278.85%	-28.43%	-31.21%	-67.01%	506.25%	-238.14%	176.12%	108.33%	-64.47%
Operating Cash Flow Growth	-21.88%	-21.67%	64.40%	13.93%	27.35%	-32.17%	73.20%	-70.15%	275.69%	33.20%	2.23%
Free Cash Flow Firm Growth	-84.00%	-3,256.86%	123.79%	-27.92%	-779.35%	204.30%	-72.55%	-441.69%	130.69%	22.26%	-17.38%
Invested Capital Growth	3.57%	34.24%	3.20%	1.51%	31.93%	-1.25%	0.97%	22.23%	0.70%	3.38%	-0.91%
Revenue Q/Q Growth	-0.55%	1.74%	2.37%	2.37%	2.40%	-1.38%	2.14%	-2.16%	6.52%	1.47%	2.02%
EBITDA Q/Q Growth	-4.29%	2.47%	12.78%	2.11%	5.75%	-2.86%	5.88%	-82.39%	35.06%	0.82%	-7.77%
EBIT Q/Q Growth	-7.45%	-1.03%	29.07%	3.86%	2.40%	-6.06%	11.72%	-138.72%	73.98%	1.17%	-13.75%
NOPAT Q/Q Growth	-9.30%	4.66%	207.66%	-43.31%	9.95%	9,444.36%	-11.63%	-35.35%	-29.14%	-0.15%	-23.53%
Net Income Q/Q Growth	-10.26%	-7.24%	258.00%	-43.18%	-2.45%	2,960.13%	0.49%	2.59%	11.19%	0.52%	-26.56%
EPS Q/Q Growth	-11.38%	-5.45%	251.79%	-44.05%	-3.00%	1,700.00%	-4.90%	9.15%	1.49%	0.95%	-26.70%
Operating Cash Flow Q/Q Growth	-20.90%	3.90%	12.18%	5.50%	20.48%	-24.31%	13.90%	-57.63%	118.55%	-7.25%	1.79%
Free Cash Flow Firm Q/Q Growth	-81.16%	6.49%	72.56%	-42.52%	11.40%	575.97%	-12.41%	-33.87%	9.01%	-3.51%	-16.11%
Invested Capital Q/Q Growth	1.22%	-0.56%	2.97%	1.64%	-0.79%	0.74%	0.66%	3.01%	0.30%	0.48%	0.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.08%	53.48%	54.12%	54.57%	54.94%	53.37%	56.21%	54.64%	54.33%	56.08%	54.59%
EBITDA Margin	13.22%	11.79%	13.25%	15.48%	16.54%	15.27%	19.12%	3.11%	15.95%	21.26%	13.25%
Operating Margin	7.12%	4.93%	5.89%	8.29%	8.28%	5.33%	10.86%	6.70%	9.69%	15.33%	7.46%
EBIT Margin	7.12%	4.55%	5.89%	8.29%	7.74%	5.29%	10.74%	-4.01%	9.69%	15.33%	7.43%
Profit (Net Income) Margin	4.24%	1.92%	6.97%	4.75%	3.00%	1.10%	6.19%	-7.71%	5.18%	10.13%	3.42%
Tax Burden Percent	67.56%	75.69%	193.12%	80.65%	91.66%	593.70%	85.55%	113.72%	79.75%	81.23%	66.17%
Interest Burden Percent	88.21%	55.78%	61.22%	71.04%	42.24%	3.51%	67.32%	168.89%	67.02%	81.38%	69.58%
Effective Tax Rate	32.44%	24.31%	-93.12%	19.35%	8.34%	-493.70%	14.45%	0.00%	20.25%	18.77%	33.83%
Return on Invested Capital (ROIC)	4.49%	3.11%	8.48%	5.26%	5.68%	18.91%	6.51%	3.05%	5.41%	8.97%	3.70%
ROIC Less NNEP Spread (ROIC-NNEP)	2.31%	-1.03%	0.88%	1.53%	-1.75%	-16.98%	2.00%	-12.30%	2.20%	5.66%	1.21%
Return on Net Nonoperating Assets (RNNOA)	0.74%	-0.59%	0.67%	1.06%	-1.51%	-17.57%	1.86%	-13.57%	2.75%	5.77%	1.02%
Return on Equity (ROE)	5.23%	2.52%	9.16%	6.32%	4.17%	1.34%	8.37%	-10.53%	8.16%	14.74%	4.72%
Cash Return on Invested Capital (CROIC)	0.99%	-26.13%	5.34%	3.76%	-21.86%	20.17%	5.54%	-16.96%	4.72%	5.65%	4.61%
Operating Return on Assets (OROA)	4.65%	2.86%	3.49%	5.23%	4.70%	2.59%	6.17%	-2.07%	5.25%	8.70%	4.41%
Return on Assets (ROA)	2.77%	1.21%	4.13%	3.00%	1.82%	0.54%	3.56%	-3.97%	2.80%	5.75%	2.03%
Return on Common Equity (ROCE)	5.23%	2.52%	9.16%	6.32%	4.17%	1.34%	8.37%	-10.53%	8.16%	14.74%	4.72%
Return on Equity Simple (ROE_SIMPLE)	5.21%	2.53%	8.79%	6.17%	4.03%	1.34%	7.96%	-10.81%	7.73%	13.76%	0.00%
Net Operating Profit after Tax (NOPAT)	35	29	91	58	73	273	94	49	96	163	68
NOPAT Margin	4.81%	3.73%	11.38%	6.69%	7.59%	31.67%	9.29%	4.69%	7.73%	12.45%	4.94%
Net Nonoperating Expense Percent (NNEP)	2.18%	4.14%	7.60%	3.73%	7.42%	35.89%	4.51%	15.34%	3.21%	3.31%	2.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	2.72%	5.32%	8.71%	3.63%
Cost of Revenue to Revenue	46.92%	46.52%	45.88%	45.43%	45.06%	46.63%	43.79%	45.36%	45.67%	43.92%	45.41%
SG&A Expenses to Revenue	42.14%	44.32%	44.17%	41.37%	41.90%	43.34%	41.04%	43.43%	40.41%	36.59%	43.06%
R&D to Revenue	3.82%	4.22%	4.06%	4.91%	4.76%	4.69%	4.31%	4.51%	4.23%	4.16%	4.07%
Operating Expenses to Revenue	45.96%	48.55%	48.23%	46.28%	46.66%	48.04%	45.35%	47.94%	44.64%	40.76%	47.13%
Earnings before Interest and Taxes (EBIT)	51	35	47	71	74	46	109	-42	121	200	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	95	90	105	133	158	132	193	32	199	278	182
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.90	1.97	2.13	2.61	4.31	4.40	5.17	3.56	3.99	2.20	1.22
Price to Tangible Book Value (P/TBV)	68.49	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.55	1.50	1.69	2.01	3.20	3.62	4.02	2.54	2.68	1.62	0.91
Price to Earnings (P/E)	36.50	77.90	24.25	42.25	106.92	327.84	64.97	0.00	51.69	15.97	26.72
Dividend Yield	1.99%	1.95%	1.66%	1.30%	0.74%	0.73%	0.58%	0.92%	0.74%	1.17%	1.97%
Earnings Yield	2.74%	1.28%	4.12%	2.37%	0.94%	0.31%	1.54%	0.00%	1.93%	6.26%	3.74%
Enterprise Value to Invested Capital (EV/IC)	1.67	1.53	1.66	1.97	2.62	2.68	3.26	2.08	2.40	1.62	1.12
Enterprise Value to Revenue (EV/Rev)	1.82	2.11	2.26	2.52	3.98	4.46	4.68	3.52	3.44	2.29	1.49
Enterprise Value to EBITDA (EV/EBITDA)	13.80	17.92	17.06	16.27	24.07	29.21	24.46	113.32	21.57	10.78	11.26
Enterprise Value to EBIT (EV/EBIT)	25.63	46.45	38.34	30.37	51.44	84.25	43.53	0.00	35.50	14.95	20.07
Enterprise Value to NOPAT (EV/NOPAT)	37.93	56.58	19.85	37.66	52.45	14.08	50.36	75.04	44.52	18.41	30.21
Enterprise Value to Operating Cash Flow (EV/OCF)	25.76	40.45	27.44	28.99	39.98	59.60	42.29	110.29	34.16	17.94	12.02
Enterprise Value to Free Cash Flow (EV/FCFF)	172.68	0.00	31.56	52.68	0.00	13.21	59.13	0.00	51.08	29.23	24.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.86	0.77	0.69	1.08	1.06	0.87	1.41	1.17	0.94	0.81
Long-Term Debt to Equity	0.46	0.84	0.75	0.66	1.06	1.04	0.86	1.32	1.17	0.94	0.81
Financial Leverage	0.32	0.57	0.76	0.69	0.86	1.04	0.93	1.10	1.25	1.02	0.84
Leverage Ratio	1.89	2.09	2.22	2.11	2.29	2.48	2.35	2.65	2.91	2.56	2.32
Compound Leverage Factor	1.66	1.16	1.36	1.50	0.97	0.09	1.58	4.48	1.95	2.09	1.62
Debt to Total Capital	31.64%	46.20%	43.52%	40.82%	51.97%	51.52%	46.57%	58.59%	53.86%	48.48%	44.70%
Short-Term Debt to Total Capital	0.16%	0.95%	1.31%	1.64%	0.92%	1.26%	0.83%	3.87%	0.04%	0.04%	0.04%
Long-Term Debt to Total Capital	31.48%	45.25%	42.20%	39.19%	51.05%	50.27%	45.74%	54.72%	53.82%	48.44%	44.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.36%	53.80%	56.49%	59.18%	48.03%	48.48%	53.43%	41.41%	46.14%	51.52%	55.30%
Debt to EBITDA	2.85	5.54	4.61	3.43	4.87	5.72	3.54	32.48	4.91	3.26	4.58
Net Debt to EBITDA	2.09	5.23	4.30	3.30	4.70	5.51	3.43	31.59	4.78	3.17	4.36
Long-Term Debt to EBITDA	2.83	5.42	4.47	3.29	4.78	5.58	3.48	30.34	4.90	3.26	4.58
Debt to NOPAT	7.83	17.48	5.37	7.94	10.60	2.76	7.29	21.51	10.13	5.57	12.30
Net Debt to NOPAT	5.74	16.52	5.01	7.64	10.25	2.66	7.07	20.92	9.87	5.42	11.70
Long-Term Debt to NOPAT	7.79	17.12	5.20	7.63	10.41	2.69	7.16	20.09	10.12	5.56	12.29
Altman Z-Score	2.89	2.20	2.45	2.93	2.91	2.89	3.83	1.82	2.51	2.33	1.86
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.01	2.90	2.38	2.33	2.11	2.19	2.34	1.96	1.98	2.30	2.14
Quick Ratio	1.72	1.54	1.33	1.24	1.14	1.08	1.04	0.74	0.86	0.94	0.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.59	-240	57	41	-279	291	80	-273	84	102	85
Operating Cash Flow to CapEx	339.24%	416.51%	510.56%	452.54%	474.10%	659.42%	751.85%	153.16%	658.62%	1,276.12%	861.80%
Free Cash Flow to Firm to Interest Expense	1.26	-15.61	3.13	1.99	-6.54	6.61	2.25	-9.45	2.11	2.75	2.72
Operating Cash Flow to Interest Expense	8.44	2.60	3.60	3.62	2.23	1.46	3.15	1.15	3.15	4.48	5.49
Operating Cash Flow Less CapEx to Interest Expense	5.95	1.97	2.90	2.82	1.76	1.24	2.73	0.40	2.67	4.13	4.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.63	0.59	0.63	0.61	0.49	0.57	0.51	0.54	0.57	0.59
Accounts Receivable Turnover	5.47	5.41	5.05	4.93	5.15	4.71	5.60	5.57	5.74	5.45	5.66
Inventory Turnover	2.40	2.64	2.64	2.64	2.70	2.24	2.08	1.68	1.75	1.73	1.78
Fixed Asset Turnover	5.56	6.17	6.69	7.49	8.23	7.49	9.18	9.31	10.53	11.05	12.00
Accounts Payable Turnover	11.54	9.30	8.73	8.17	7.86	7.36	7.94	7.21	7.04	6.03	6.37
Days Sales Outstanding (DSO)	66.78	67.43	72.25	74.00	70.82	77.50	65.20	65.50	63.58	67.02	64.46
Days Inventory Outstanding (DIO)	152.24	138.33	138.52	138.34	135.36	163.13	175.87	217.03	208.87	211.45	205.31
Days Payable Outstanding (DPO)	31.62	39.24	41.81	44.65	46.42	49.59	45.98	50.64	51.88	60.56	57.27
Cash Conversion Cycle (CCC)	187.40	166.53	168.96	167.70	159.77	191.04	195.08	231.89	220.56	217.92	212.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	783	1,052	1,085	1,102	1,453	1,435	1,449	1,771	1,784	1,844	1,827
Invested Capital Turnover	0.93	0.83	0.75	0.79	0.75	0.60	0.70	0.65	0.70	0.72	0.75
Increase / (Decrease) in Invested Capital	27	268	34	16	352	-18	14	322	12	60	-17
Enterprise Value (EV)	1,311	1,613	1,799	2,166	3,803	3,846	4,727	3,680	4,282	2,995	2,051
Market Capitalization	1,113	1,142	1,346	1,726	3,060	3,120	4,063	2,654	3,332	2,114	1,257
Book Value per Share	$21.12	$20.87	$22.60	$23.54	$25.03	$24.79	$26.86	$24.46	$27.13	$31.16	$33.36
Tangible Book Value per Share	$0.59	($8.50)	($6.64)	($5.38)	($15.52)	($14.37)	($10.36)	($24.66)	($20.23)	($14.90)	($11.49)
Total Capital	856	1,079	1,118	1,119	1,479	1,463	1,470	1,800	1,808	1,868	1,868
Total Debt	271	498	486	457	769	754	685	1,055	974	906	835
Total Long-Term Debt	269	488	472	439	755	735	672	985	973	905	834
Net Debt	198	471	454	439	743	726	664	1,026	950	881	794
Capital Expenditures (CapEx)	15	9.58	13	17	20	9.79	15	22	19	13	20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	169	199	189	214	197	218	255	325	281	338	318
Debt-free Net Working Capital (DFNWC)	241	227	221	232	223	245	276	354	306	363	359
Net Working Capital (NWC)	240	217	207	213	209	226	263	285	305	362	358
Net Nonoperating Expense (NNE)	4.07	14	35	17	44	264	31	130	32	30	21
Net Nonoperating Obligations (NNO)	198	471	454	439	743	726	664	1,026	950	881	794
Total Depreciation and Amortization (D&A)	44	55	59	62	84	86	85	74	78	78	80
Debt-free, Cash-free Net Working Capital to Revenue	23.49%	26.11%	23.71%	24.92%	20.63%	25.22%	25.22%	31.13%	22.60%	25.87%	23.11%
Debt-free Net Working Capital to Revenue	33.57%	29.70%	27.81%	26.96%	23.34%	28.39%	27.28%	33.90%	24.55%	27.74%	26.08%
Net Working Capital to Revenue	33.38%	28.36%	25.96%	24.83%	21.91%	26.26%	26.07%	27.23%	24.50%	27.69%	26.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.10	$0.53	$1.99	$1.45	$1.01	$0.33	$2.14	($2.68)	$2.10	$4.29	$1.52
Adjusted Weighted Average Basic Shares Outstanding	27.71M	27.84M	27.98M	28.15M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Adjusted Diluted Earnings per Share	$1.09	$0.52	$1.97	$1.41	$0.97	$0.32	$1.94	($2.68)	$2.04	$4.25	$1.51
Adjusted Weighted Average Diluted Shares Outstanding	27.71M	27.84M	27.98M	28.15M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.71M	27.84M	27.98M	28.15M	28.49M	28.94M	29.41M	30.50M	30.78M	30.91M	30.83M
Normalized Net Operating Profit after Tax (NOPAT)	35	29	33	58	73	32	94	49	96	163	68
Normalized NOPAT Margin	4.81%	3.73%	4.13%	6.69%	7.59%	3.73%	9.29%	4.69%	7.73%	12.45%	4.94%
Pre Tax Income Margin	6.28%	2.54%	3.61%	5.89%	3.27%	0.19%	7.23%	-6.78%	6.49%	12.47%	5.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.49	2.26	2.58	3.45	1.73	1.04	3.06	-1.45	3.03	5.37	3.29
NOPAT to Interest Expense	5.73	1.86	4.98	2.78	1.70	6.20	2.65	1.70	2.42	4.36	2.18
EBIT Less CapEx to Interest Expense	6.00	1.64	1.87	2.65	1.26	0.81	2.64	-2.21	2.55	5.02	2.65
NOPAT Less CapEx to Interest Expense	3.24	1.23	4.27	1.99	1.23	5.98	2.23	0.94	1.94	4.01	1.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	72.48%	151.48%	40.20%	54.93%	78.97%	239.76%	37.18%	-29.73%	38.01%	18.62%	52.59%
Augmented Payout Ratio	72.48%	151.48%	40.20%	54.93%	78.97%	239.76%	37.18%	-116.02%	38.01%	18.62%	52.59%

This table displays calculated financial ratios and metrics derived from CONMED's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,833,536.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,833,536.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.45
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.72%	30.37%	5.69%	4.55%	3.98%	5.78%	2.88%	3.09%	6.70%	7.88%	-1.31%
EBITDA Growth	14.66%	284.02%	69.45%	41.21%	71.21%	3.24%	-34.53%	-13.04%	-62.69%	-20.76%	27.69%
EBIT Growth	24.96%	4,679.01%	175.71%	71.81%	116.85%	4.61%	-54.42%	-19.88%	-81.92%	-30.24%	59.26%
NOPAT Growth	-66.78%	5,417.64%	187.23%	74.17%	140.96%	-0.47%	-53.75%	-27.42%	-86.06%	-48.39%	52.50%
Net Income Growth	-65.68%	24.40%	983.51%	118.29%	209.30%	2.07%	-69.37%	-28.54%	-94.16%	-50.41%	129.09%
EPS Growth	-66.22%	2.94%	950.00%	123.26%	214.00%	3.81%	-69.84%	-28.13%	-94.27%	-50.46%	136.84%
Operating Cash Flow Growth	78.14%	586.25%	856.98%	62.36%	11.00%	-23.15%	42.63%	-32.73%	4.85%	6.92%	-67.56%
Free Cash Flow Firm Growth	83.14%	108.81%	102.15%	107.23%	100.76%	-168.98%	-256.88%	-137.45%	7,467.26%	292.31%	198.05%
Invested Capital Growth	3.42%	0.70%	1.15%	1.42%	3.19%	3.38%	1.25%	1.75%	-0.66%	-0.91%	0.50%
Revenue Q/Q Growth	-4.12%	7.38%	-4.52%	6.35%	-4.64%	9.23%	-7.14%	6.56%	-1.29%	10.44%	-15.05%
EBITDA Q/Q Growth	5.81%	40.16%	-21.85%	21.84%	28.29%	-15.48%	-50.45%	61.84%	-44.96%	79.50%	-20.14%
EBIT Q/Q Growth	10.51%	65.63%	-30.23%	34.54%	39.48%	-20.10%	-69.60%	136.51%	-68.53%	208.31%	-30.61%
NOPAT Q/Q Growth	9.48%	72.43%	-33.46%	38.65%	51.46%	-28.78%	-69.08%	117.62%	-70.91%	163.67%	-8.64%
Net Income Q/Q Growth	15.33%	108.82%	-40.40%	52.09%	63.41%	-31.09%	-82.12%	254.89%	-86.65%	485.48%	-17.39%
EPS Q/Q Growth	16.28%	110.00%	-40.00%	52.38%	63.54%	-30.57%	-82.57%	263.16%	-86.96%	500.00%	-16.67%
Operating Cash Flow Q/Q Growth	72.94%	22.26%	-48.36%	48.71%	18.24%	-15.36%	-4.16%	-29.86%	84.27%	-13.69%	-70.92%
Free Cash Flow Firm Q/Q Growth	79.23%	180.87%	-77.27%	89.35%	-97.83%	-7,487.59%	48.32%	54.79%	538.41%	87.74%	-73.65%
Invested Capital Q/Q Growth	-0.83%	0.30%	1.56%	0.40%	0.90%	0.48%	-0.53%	0.90%	-1.50%	0.23%	0.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.18%	55.70%	55.07%	55.32%	56.52%	57.33%	55.33%	55.01%	49.16%	58.49%	57.86%
EBITDA Margin	16.32%	21.31%	17.44%	19.98%	26.88%	20.80%	11.10%	16.85%	9.40%	15.28%	14.36%
Operating Margin	9.95%	15.35%	11.21%	14.18%	20.75%	15.18%	4.97%	11.15%	3.52%	9.81%	8.02%
EBIT Margin	9.95%	15.35%	11.21%	14.18%	20.75%	15.18%	4.97%	11.02%	3.52%	9.81%	8.02%
Profit (Net Income) Margin	5.20%	10.11%	6.31%	9.03%	15.47%	9.76%	1.88%	6.26%	0.85%	4.49%	4.36%
Tax Burden Percent	78.09%	81.29%	77.54%	79.91%	86.77%	77.34%	78.68%	71.60%	66.91%	57.22%	75.34%
Interest Burden Percent	66.93%	81.06%	72.60%	79.64%	85.92%	83.13%	48.08%	79.27%	35.97%	79.87%	72.22%
Effective Tax Rate	21.91%	18.71%	22.46%	20.09%	13.23%	22.66%	21.32%	28.40%	33.09%	42.78%	24.66%
Return on Invested Capital (ROIC)	5.19%	8.74%	6.09%	8.01%	12.83%	8.46%	2.82%	5.77%	1.73%	4.21%	4.50%
ROIC Less NNEP Spread (ROIC-NNEP)	4.40%	7.95%	5.34%	7.22%	11.98%	7.71%	2.10%	5.11%	1.14%	3.70%	3.87%
Return on Net Nonoperating Assets (RNNOA)	5.78%	9.94%	6.63%	8.47%	13.06%	7.85%	2.08%	4.84%	1.01%	3.11%	3.26%
Return on Equity (ROE)	10.97%	18.68%	12.72%	16.48%	25.89%	16.31%	4.90%	10.61%	2.74%	7.31%	7.76%
Cash Return on Invested Capital (CROIC)	4.40%	4.72%	5.15%	5.76%	5.88%	5.65%	6.88%	5.78%	5.52%	4.61%	3.59%
Operating Return on Assets (OROA)	5.04%	8.31%	6.11%	7.86%	11.52%	8.61%	2.84%	6.34%	2.04%	5.83%	4.76%
Return on Assets (ROA)	2.63%	5.48%	3.44%	5.00%	8.59%	5.54%	1.07%	3.60%	0.49%	2.66%	2.59%
Return on Common Equity (ROCE)	10.97%	18.68%	12.72%	16.48%	25.89%	16.31%	4.90%	10.61%	2.74%	7.31%	7.76%
Return on Equity Simple (ROE_SIMPLE)	7.28%	0.00%	9.64%	11.18%	14.12%	0.00%	12.15%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	24	41	27	38	57	41	13	27	7.95	21	19
NOPAT Margin	7.77%	12.47%	8.69%	11.33%	18.00%	11.74%	3.91%	7.98%	2.35%	5.62%	6.04%
Net Nonoperating Expense Percent (NNEP)	0.79%	0.78%	0.75%	0.79%	0.85%	0.75%	0.72%	0.66%	0.59%	0.50%	0.63%
Return On Investment Capital (ROIC_SIMPLE)	-	2.26%	-	-	-	2.17%	0.67%	1.45%	0.43%	1.12%	1.02%
Cost of Revenue to Revenue	44.82%	44.30%	44.93%	44.68%	43.48%	42.67%	44.67%	44.99%	50.84%	41.51%	42.14%
SG&A Expenses to Revenue	41.14%	36.07%	39.50%	36.89%	31.49%	38.35%	46.33%	39.73%	41.53%	44.68%	44.69%
R&D to Revenue	4.09%	4.29%	4.35%	4.25%	4.28%	3.81%	4.03%	4.13%	4.11%	3.99%	5.15%
Operating Expenses to Revenue	45.23%	40.36%	43.86%	41.14%	35.77%	42.16%	50.36%	43.86%	45.64%	48.68%	49.85%
Earnings before Interest and Taxes (EBIT)	30	50	35	47	66	52	16	38	12	37	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	50	70	54	66	85	72	36	58	32	57	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.86	3.99	2.87	2.42	2.38	2.20	1.91	1.61	1.44	1.22	1.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.63	2.68	1.95	1.67	1.72	1.62	1.42	1.22	1.08	0.91	0.80
Price to Earnings (P/E)	52.97	51.69	29.82	21.66	16.83	15.97	15.72	14.62	22.72	26.72	19.88
Dividend Yield	0.80%	0.74%	1.00%	1.15%	1.11%	1.17%	1.32%	1.54%	1.70%	1.97%	2.26%
Earnings Yield	1.89%	1.93%	3.35%	4.62%	5.94%	6.26%	6.36%	6.84%	4.40%	3.74%	5.03%
Enterprise Value to Invested Capital (EV/IC)	2.28	2.40	1.88	1.69	1.70	1.62	1.48	1.33	1.25	1.12	1.04
Enterprise Value to Revenue (EV/Rev)	3.47	3.44	2.71	2.41	2.42	2.29	2.07	1.85	1.69	1.49	1.40
Enterprise Value to EBITDA (EV/EBITDA)	27.57	21.57	15.45	12.79	11.32	10.78	10.51	9.80	11.50	11.26	9.96
Enterprise Value to EBIT (EV/EBIT)	58.47	35.50	23.88	18.89	15.75	14.95	15.02	14.27	19.16	20.07	17.10
Enterprise Value to NOPAT (EV/NOPAT)	29.86	44.52	30.10	23.74	19.14	18.41	18.38	17.83	25.57	30.21	25.50
Enterprise Value to Operating Cash Flow (EV/OCF)	70.67	34.16	21.56	17.56	17.33	17.94	15.18	14.89	13.54	12.02	13.43
Enterprise Value to Free Cash Flow (EV/FCFF)	52.71	51.08	36.82	29.54	29.37	29.23	21.70	23.20	22.49	24.23	29.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.27	1.17	1.16	1.10	1.01	0.94	0.91	0.88	0.85	0.81	0.85
Long-Term Debt to Equity	1.18	1.17	1.16	1.09	1.01	0.94	0.91	0.88	0.85	0.81	0.85
Financial Leverage	1.31	1.25	1.24	1.17	1.09	1.02	0.99	0.95	0.88	0.84	0.84
Leverage Ratio	3.05	2.91	2.88	2.77	2.68	2.56	2.51	2.45	2.39	2.32	2.31
Compound Leverage Factor	2.04	2.36	2.09	2.21	2.31	2.13	1.21	1.94	0.86	1.85	1.67
Debt to Total Capital	55.99%	53.86%	53.69%	52.27%	50.21%	48.48%	47.71%	46.79%	45.85%	44.70%	45.83%
Short-Term Debt to Total Capital	3.90%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
Long-Term Debt to Total Capital	52.08%	53.82%	53.65%	52.24%	50.17%	48.44%	47.68%	46.75%	45.81%	44.66%	45.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.01%	46.14%	46.31%	47.73%	49.79%	51.52%	52.29%	53.21%	54.15%	55.30%	54.17%
Debt to EBITDA	6.89	4.91	4.49	4.02	3.41	3.26	3.44	3.52	4.32	4.58	4.47
Net Debt to EBITDA	6.68	4.78	4.33	3.90	3.27	3.17	3.31	3.38	4.13	4.36	4.29
Long-Term Debt to EBITDA	6.41	4.90	4.48	4.02	3.41	3.26	3.44	3.51	4.32	4.58	4.47
Debt to NOPAT	7.46	10.13	8.74	7.46	5.77	5.57	6.02	6.39	9.62	12.30	11.46
Net Debt to NOPAT	7.24	9.87	8.44	7.24	5.54	5.42	5.78	6.15	9.18	11.70	10.99
Long-Term Debt to NOPAT	6.94	10.12	8.73	7.46	5.77	5.56	6.02	6.39	9.61	12.29	11.45
Altman Z-Score	2.14	2.41	2.07	2.03	2.12	2.11	1.97	1.89	1.79	1.77	1.69
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.66	1.98	2.18	2.34	2.27	2.30	2.26	2.23	2.10	2.14	2.29
Quick Ratio	0.69	0.86	0.94	1.01	0.96	0.94	0.91	0.91	0.84	0.92	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-35	28	6.46	12	0.27	-20	-10	-4.59	20	38	9.94
Operating Cash Flow to CapEx	855.15%	1,161.59%	1,431.01%	1,206.30%	1,497.60%	1,072.72%	1,099.07%	508.54%	1,035.01%	906.57%	465.84%
Free Cash Flow to Firm to Interest Expense	-3.51	2.99	0.67	1.28	0.03	-2.22	-1.22	-0.59	2.64	5.12	1.41
Operating Cash Flow to Interest Expense	4.60	5.93	3.04	4.51	5.53	4.89	5.01	3.72	7.06	6.29	1.91
Operating Cash Flow Less CapEx to Interest Expense	4.07	5.42	2.82	4.14	5.16	4.44	4.56	2.99	6.38	5.59	1.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.54	0.55	0.55	0.56	0.57	0.57	0.57	0.58	0.59	0.59
Accounts Receivable Turnover	5.47	5.74	5.55	5.45	5.58	5.45	5.69	5.60	5.91	5.66	6.09
Inventory Turnover	1.72	1.75	1.73	1.76	1.71	1.73	1.71	1.70	1.75	1.78	1.70
Fixed Asset Turnover	9.98	10.53	10.81	10.91	10.83	11.05	11.25	11.34	11.75	12.00	12.02
Accounts Payable Turnover	6.95	7.04	6.38	6.34	6.13	6.03	5.85	5.76	5.83	6.37	6.11
Days Sales Outstanding (DSO)	66.76	63.58	65.77	67.00	65.37	67.02	64.15	65.14	61.78	64.46	59.90
Days Inventory Outstanding (DIO)	212.10	208.87	211.07	207.98	213.53	211.45	214.06	214.37	209.11	205.31	214.12
Days Payable Outstanding (DPO)	52.50	51.88	57.23	57.58	59.56	60.56	62.41	63.36	62.61	57.27	59.75
Cash Conversion Cycle (CCC)	226.36	220.56	219.61	217.41	219.34	217.92	215.80	216.15	208.29	212.50	214.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,778	1,784	1,812	1,819	1,835	1,844	1,834	1,851	1,823	1,827	1,844
Invested Capital Turnover	0.67	0.70	0.70	0.71	0.71	0.72	0.72	0.72	0.74	0.75	0.75
Increase / (Decrease) in Invested Capital	59	12	21	25	57	60	23	32	-12	-17	9.20
Enterprise Value (EV)	4,053	4,282	3,413	3,072	3,120	2,995	2,723	2,459	2,271	2,051	1,916
Market Capitalization	3,071	3,332	2,456	2,135	2,217	2,114	1,867	1,611	1,456	1,257	1,090
Book Value per Share	$25.90	$27.13	$27.77	$28.63	$30.26	$31.16	$31.63	$32.41	$32.57	$33.36	$33.01
Tangible Book Value per Share	($22.00)	($20.23)	($19.26)	($18.10)	($16.20)	($14.90)	($14.17)	($13.12)	($12.66)	($11.49)	($11.77)
Total Capital	1,809	1,808	1,845	1,848	1,874	1,868	1,870	1,885	1,862	1,868	1,879
Total Debt	1,013	974	991	966	941	906	892	882	854	835	861
Total Long-Term Debt	942	973	990	965	940	905	891	881	853	834	860
Net Debt	982	950	957	937	902	881	857	848	815	794	826
Capital Expenditures (CapEx)	5.39	4.86	2.04	3.59	3.42	4.04	3.78	5.73	5.19	5.11	2.89
Debt-free, Cash-free Net Working Capital (DFCFNWC)	289	281	311	329	321	338	321	330	309	318	344
Debt-free Net Working Capital (DFNWC)	320	306	345	358	359	363	357	364	348	359	379
Net Working Capital (NWC)	249	305	344	357	359	362	356	363	347	358	378
Net Nonoperating Expense (NNE)	7.82	7.73	7.44	7.67	8.03	6.85	6.52	5.90	5.09	4.22	5.32
Net Nonoperating Obligations (NNO)	982	950	957	937	902	881	857	848	815	794	826
Total Depreciation and Amortization (D&A)	19	20	19	19	19	19	20	20	20	20	20
Debt-free, Cash-free Net Working Capital to Revenue	24.77%	22.60%	24.66%	25.80%	24.92%	25.87%	24.40%	24.86%	22.95%	23.11%	25.07%
Debt-free Net Working Capital to Revenue	27.38%	24.55%	27.35%	28.07%	27.90%	27.74%	27.09%	27.42%	25.84%	26.08%	27.62%
Net Working Capital to Revenue	21.34%	24.50%	27.29%	28.01%	27.85%	27.69%	27.04%	27.37%	25.79%	26.03%	27.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.52	$1.07	$0.64	$0.97	$1.59	$1.09	$0.19	$0.69	$0.09	$0.55	$0.45
Adjusted Weighted Average Basic Shares Outstanding	30.74M	30.78M	30.78M	30.81M	30.86M	30.91M	30.97M	30.95M	30.96M	30.83M	30.59M
Adjusted Diluted Earnings per Share	$0.50	$1.05	$0.63	$0.96	$1.57	$1.09	$0.19	$0.69	$0.09	$0.54	$0.45
Adjusted Weighted Average Diluted Shares Outstanding	31.69M	30.78M	31.27M	31.11M	31.11M	30.91M	31.15M	31.05M	31.05M	30.83M	30.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	30.75M	30.78M	30.80M	30.83M	30.89M	30.91M	30.94M	30.95M	30.97M	30.83M	30.11M
Normalized Net Operating Profit after Tax (NOPAT)	24	41	27	38	57	41	13	27	7.95	21	19
Normalized NOPAT Margin	7.77%	12.47%	8.69%	11.33%	18.00%	11.74%	3.91%	7.98%	2.35%	5.62%	6.04%
Pre Tax Income Margin	6.66%	12.44%	8.14%	11.30%	17.83%	12.62%	2.39%	8.74%	1.26%	7.84%	5.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.02	5.28	3.65	4.91	7.10	5.93	1.93	4.82	1.56	4.97	3.60
NOPAT to Interest Expense	2.36	4.29	2.83	3.92	6.16	4.58	1.52	3.49	1.05	2.84	2.71
EBIT Less CapEx to Interest Expense	2.49	4.77	3.44	4.54	6.73	5.47	1.47	4.09	0.88	4.28	3.19
NOPAT Less CapEx to Interest Expense	1.82	3.78	2.62	3.55	5.79	4.13	1.06	2.76	0.36	2.15	2.30
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.17%	38.01%	29.82%	24.96%	18.69%	18.62%	20.78%	22.42%	38.60%	52.59%	33.85%
Augmented Payout Ratio	42.17%	38.01%	29.82%	24.96%	18.69%	18.62%	20.78%	22.42%	38.60%	52.59%	33.85%

Financials Breakdown Chart

Key Financial Trends

CONMED Corp (CNMD) has shown a generally positive trend across the last four years, with revenue growth and expanding profitability, supported by solid operating cash flow. The company has increased leverage somewhat in 2025 to fund growth, but maintains a healthy liquidity profile and a steady dividend policy. Below are the key takeaways for retail investors based on the latest quarterly statements through Q4 2025 and the prior four years.

Trailing four-quarter revenue around $1.375 billion in 2025: Quarterly results show sustained top-line growth, with Q4 2025 at $373.197 million, and other recent quarters in the mid-$300s million range. This reflects a meaningful scale-up versus the 2022 period.
Gross margin expanding to about 58% in Q4 2025: Gross margin rose from roughly 53% in Q4 2022 to about 58% by Q4 2025, indicating improved product mix or pricing leverage and better cost control on goods sold.
Healthy operating cash flow generation: Net cash from continuing operating activities was about $46.34 million in Q4 2025 and around $53.69 million in Q3 2025, suggesting strong cash-generating operations even as growth investments proceed.
Positive near-term free cash flow (FCF) in several quarters: After modest capex (roughly $3–$6 million per quarter), cash flow remains positive, supporting deleveraging or shareholder returns over time.
Solid liquidity position: Total current assets around $660 million and total current liabilities around $314 million in C3/C4 2025 figures yield a current ratio near 2.1x, indicating ample short-term liquidity.
Stable dividend policy: The company has maintained a regular quarterly dividend per share (cash dividend per share of about $0.20), which may appeal to income-focused investors.
R&D spend remains a modest, supportive portion of sales: R&D expenses run in the low double-digit millions per quarter, roughly 4% of quarterly revenue, supporting ongoing product development without derailing profitability.
Balance sheet depth from intangible assets and goodwill: Goodwill and intangible assets are material (e.g., goodwill around $0.8–0.9B range and intangibles around $0.6B+), which supports brand and technology value but could pose impairment risk if market conditions deteriorate.
Debt issuance activity mirrors growth financing in 2025: The company shows notable debt issuance across several 2025 quarters, suggesting management is actively using debt financing to fund growth opportunities or working capital needs. This provides flexibility but raises leverage and interest costs to monitor.

Operating expense load in relation to revenue: Selling, general, and administrative (SG&A) and overall operating expenses remain a sizable portion of revenue (SG&A typically in the mid-to-high 40% range of quarterly revenue), which pressures margins if revenue growth slows.
Interest expense remains a recurring cost: Interest expense runs around $7–9 million per quarter, consistent with a higher debt level and ongoing financing costs to watch as leverage evolves.
Net income can be volatile on a quarterly basis: While some quarters show solid earnings, others are more modest or swing, reflecting cyclicality in the device market and quarterly timing of charges and taxes.

05/07/26 12:40 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About CONMED's Financials

When does CONMED's financial year end?

According to the most recent income statement we have on file, CONMED's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has CONMED's net income changed over the last 10 years?

CONMED's net income appears to be on an upward trend, with a most recent value of $47.06 million in 2025, rising from $30.50 million in 2015. The previous period was $132.42 million in 2024. Check out CONMED's forecast to explore projected trends and price targets.

What is CONMED's operating income?

CONMED's total operating income in 2025 was $102.62 million, based on the following breakdown:

Total Gross Profit: $750.48 million
Total Operating Expenses: $647.85 million

How has CONMED's revenue changed over the last 10 years?

Over the last 10 years, CONMED's total revenue changed from $719.17 million in 2015 to $1.37 billion in 2025, a change of 91.2%.

How much debt does CONMED have?

CONMED's total liabilities were at $1.29 billion at the end of 2025, a 3.8% decrease from 2024, and a 150.2% increase since 2015.

How much cash does CONMED have?

In the past 10 years, CONMED's cash and equivalents has ranged from $17.51 million in 2018 to $72.50 million in 2015, and is currently $40.82 million as of their latest financial filing in 2025.

How has CONMED's book value per share changed over the last 10 years?

Over the last 10 years, CONMED's book value per share changed from 21.12 in 2015 to 33.36 in 2025, a change of 58.0%.

Related Companies

Financial statements for NYSE:CNMD last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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CONMED (CNMD) Financials

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CONMED (CNMD) Financials

Annual Income Statements for CONMED

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