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CONMED (CNMD) Financials

CONMED logo
$50.42 +0.60 (+1.20%)
Closing price 08/14/2026 03:59 PM Eastern
Extended Trading
$51.26 +0.84 (+1.66%)
As of 08/14/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for CONMED

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

Quarterly Income Statements for CONMED

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 33 20 30 49 34 6.04 21 2.86 17 14 23
Consolidated Net Income / (Loss)		 33 20 30 49 34 6.04 21 2.86 17 14 23
Net Income / (Loss) Continuing Operations		 33 20 30 49 34 6.04 21 2.86 17 14 23
Total Pre-Tax Income 		41 25 38 56 44 7.67 30 4.27 29 18 31
Total Operating Income		 50 35 47 66 52 16 38 12 37 25 36
Total Gross Profit		 182 172 184 179 198 178 188 166 218 183 197
Total Revenue		 327 312 332 317 346 321 342 338 373 317 343
Total Cost of Revenue		 145 140 148 138 148 144 154 172 155 134 146
Total Operating Expenses		 132 137 137 113 146 162 150 154 182 158 161
Selling, General & Admin Expense		 118 123 123 100 133 149 136 140 167 142 146
Research & Development Expense		 14 14 14 14 13 13 14 14 15 16 16
Total Other Income / (Expense), net		 -9.50 -9.59 -9.59 -9.25 -8.86 -8.29 -8.24 -7.61 -7.37 -7.06 -5.06
Interest Expense		 9.50 9.59 9.59 9.25 8.86 8.29 7.82 7.61 7.37 7.06 7.88
Other Income / (Expense), net		 - - 0.00 0.00 - - -0.42 0.00 - - 2.83
Income Tax Expense		 7.61 5.71 7.54 7.47 9.89 1.64 8.50 1.41 13 4.53 8.28
Basic Earnings per Share		 $1.07 $0.64 $0.97 $1.59 $1.09 $0.19 $0.69 $0.09 $0.55 $0.45 $0.77
Weighted Average Basic Shares Outstanding		 30.78M 30.78M 30.81M 30.86M 30.91M 30.97M 30.95M 30.96M 30.83M 30.59M 30.07M
Diluted Earnings per Share		 $1.05 $0.63 $0.96 $1.57 $1.09 $0.19 $0.69 $0.09 $0.54 $0.45 $0.77
Weighted Average Diluted Shares Outstanding		 30.78M 31.27M 31.11M 31.11M 30.91M 31.15M 31.05M 31.05M 30.83M 30.62M 30.12M
Weighted Average Basic & Diluted Shares Outstanding		 30.78M 30.80M 30.83M 30.89M 30.91M 30.94M 30.95M 30.97M 30.83M 30.11M 29.95M

Annual Cash Flow Statements for CONMED

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

Quarterly Cash Flow Statements for CONMED

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -6.21 9.56 -4.99 9.60 -14 11 -1.55 4.99 1.89 -5.79 2.30
Net Cash From Operating Activities		 56 29 43 51 43 42 29 54 46 13 37
Net Cash From Continuing Operating Activities		 56 29 43 51 43 42 29 54 46 13 37
Net Income / (Loss) Continuing Operations		 33 20 30 49 34 6.04 21 2.86 17 14 23
Consolidated Net Income / (Loss)		 33 20 30 49 34 6.04 21 2.86 17 14 23
Depreciation Expense		 4.05 4.05 4.17 4.20 4.20 4.24 4.47 4.38 4.07 4.17 4.08
Amortization Expense		 15 15 15 15 15 15 15 16 16 16 16
Non-Cash Adjustments To Reconcile Net Income		 5.92 6.24 6.97 6.12 18 14 5.27 4.59 8.49 1.59 3.04
Changes in Operating Assets and Liabilities, net		 -2.10 -16 -13 -23 -28 1.94 -18 26 0.71 -22 -9.11
Net Cash From Investing Activities		 -4.86 -2.04 -3.59 -3.42 -4.04 -2.93 -5.73 -5.19 -7.11 4.11 12
Net Cash From Continuing Investing Activities		 -4.86 -2.04 -3.59 -3.42 -4.04 -2.93 -5.73 -5.19 -7.11 4.11 12
Purchase of Property, Plant & Equipment		 -4.86 -2.04 -3.59 -3.42 -4.04 -3.78 -5.73 -5.19 -5.11 -2.89 -2.93
Other Investing Activities, net		 - 0.00 - - - 0.85 - - -2.00 7.00 15
Net Cash From Financing Activities		 -59 -17 -44 -39 -51 -28 -27 -44 -37 -23 -46
Net Cash From Continuing Financing Activities		 -59 -17 -44 -39 -51 -28 -27 -44 -37 -23 -46
Repayment of Debt		 -219 -238 -230 -166 -186 -181 -214 -196 -207 -155 -888
Repurchase of Common Equity		 - - - - - 0.00 - - - -37 -6.20
Issuance of Debt		 180 254 205 142 150 166 201 167 187 181 865
Other Financing Activities, net		 -14 -27 -13 -8.66 -8.80 -7.17 -6.93 -8.48 -11 -11 -17
Effect of Exchange Rate Changes		 1.02 -0.51 -0.62 0.65 -2.24 0.82 1.57 0.02 0.03 -0.81 -0.13

Annual Balance Sheets for CONMED

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

Quarterly Balance Sheets for CONMED

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 2,320 2,323 2,326 2,309 2,286 2,316 2,298 2,328 2,322 2,315 2,300
Total Current Assets		 610 616 626 636 624 641 639 658 662 671 676
Cash & Equivalents		 26 28 31 34 29 38 35 34 39 35 37
Accounts Receivable		 213 229 230 241 239 231 221 234 225 229 240
Inventories, net		 335 327 326 322 322 343 355 362 364 366 360
Prepaid Expenses		 35 31 39 38 33 29 28 27 34 41 38
Plant, Property, & Equipment, net		 115 117 120 118 117 117 116 117 112 112 110
Total Noncurrent Assets		 1,595 1,590 1,580 1,556 1,545 1,557 1,543 1,554 1,548 1,532 1,514
Goodwill		 815 816 815 806 806 807 806 807 807 807 797
Intangible Assets		 674 666 657 641 633 626 610 602 593 574 564
Other Noncurrent Operating Assets		 106 109 107 108 105 125 127 145 148 152 153
Total Liabilities & Shareholders' Equity		 2,320 2,323 2,326 2,309 2,286 2,316 2,298 2,328 2,322 2,315 2,300
Total Liabilities		 1,568 1,543 1,529 1,455 1,404 1,383 1,320 1,326 1,314 1,297 1,259
Total Current Liabilities		 321 353 376 291 266 282 283 295 315 293 455
Short-Term Debt		 70 70 71 0.69 0.72 0.72 0.71 0.71 0.75 0.71 177
Accounts Payable		 77 79 82 102 101 105 96 101 107 105 101
Current Employee Benefit Liabilities		 49 55 60 50 55 61 58 68 76 61 70
Other Current Liabilities		 125 150 163 139 109 116 129 125 131 126 107
Total Noncurrent Liabilities		 1,247 1,189 1,153 1,163 1,137 1,101 1,037 1,031 1,000 1,005 804
Long-Term Debt		 995 971 942 990 965 940 891 881 853 860 657
Noncurrent Deferred & Payable Income Tax Liabilities		 66 66 67 64 65 66 70 70 75 81 85
Other Noncurrent Operating Liabilities		 186 152 144 109 107 95 76 80 72 63 62
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		 752 780 796 855 882 933 978 1,003 1,008 1,018 1,041
Total Preferred & Common Equity		 752 780 796 855 882 933 978 1,003 1,008 1,018 1,041
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		 752 780 796 855 882 933 978 1,003 1,008 1,018 1,041
Common Stock		 420 433 440 458 465 471 489 494 499 509 514
Retained Earnings		 408 416 426 466 490 533 560 575 572 603 626
Treasury Stock		 -21 -16 -15 -20 -19 -16 -15 -14 -14 -49 -55
Accumulated Other Comprehensive Income / (Loss)		 -55 -53 -54 -50 -54 -55 -57 -53 -49 -45 -43

Annual Metrics And Ratios for CONMED

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%

Quarterly Metrics And Ratios for CONMED

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 30,833,536.00 30,109,194.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 30,833,536.00 30,109,194.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.45 0.77
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 30.37% 5.69% 4.55% 3.98% 5.78% 2.88% 3.09% 6.70% 7.88% -1.31% 0.33%
EBITDA Growth		 284.02% 69.45% 41.21% 71.21% 3.24% -34.53% -13.04% -62.69% -20.76% 27.69% 2.82%
EBIT Growth		 4,679.01% 175.71% 71.81% 116.85% 4.61% -54.42% -19.88% -81.92% -30.24% 59.26% 3.94%
NOPAT Growth		 5,417.64% 187.23% 74.17% 140.96% -0.47% -53.75% -27.42% -86.06% -48.39% 52.50% -1.93%
Net Income Growth		 24.40% 983.51% 118.29% 209.30% 2.07% -69.37% -28.54% -94.16% -50.41% 129.09% 7.70%
EPS Growth		 2.94% 950.00% 123.26% 214.00% 3.81% -69.84% -28.13% -94.27% -50.46% 136.84% 11.59%
Operating Cash Flow Growth		 586.25% 856.98% 62.36% 11.00% -23.15% 42.63% -32.73% 4.85% 6.92% -67.56% 27.33%
Free Cash Flow Firm Growth		 108.81% 102.15% 107.23% 100.76% -168.98% -256.88% -137.45% 7,467.26% 292.31% 198.05% 955.89%
Invested Capital Growth		 0.70% 1.15% 1.42% 3.19% 3.38% 1.25% 1.75% -0.66% -0.91% 0.50% -0.67%
Revenue Q/Q Growth		 7.38% -4.52% 6.35% -4.64% 9.23% -7.14% 6.56% -1.29% 10.44% -15.05% 8.34%
EBITDA Q/Q Growth		 40.16% -21.85% 21.84% 28.29% -15.48% -50.45% 61.84% -44.96% 79.50% -20.14% 30.32%
EBIT Q/Q Growth		 65.63% -30.23% 34.54% 39.48% -20.10% -69.60% 136.51% -68.53% 208.31% -30.61% 54.36%
NOPAT Q/Q Growth		 72.43% -33.46% 38.65% 51.46% -28.78% -69.08% 117.62% -70.91% 163.67% -8.64% 39.94%
Net Income Q/Q Growth		 108.82% -40.40% 52.09% 63.41% -31.09% -82.12% 254.89% -86.65% 485.48% -17.39% 66.84%
EPS Q/Q Growth		 110.00% -40.00% 52.38% 63.54% -30.57% -82.57% 263.16% -86.96% 500.00% -16.67% 71.11%
Operating Cash Flow Q/Q Growth		 22.26% -48.36% 48.71% 18.24% -15.36% -4.16% -29.86% 84.27% -13.69% -70.92% 175.35%
Free Cash Flow Firm Q/Q Growth		 180.87% -77.27% 89.35% -97.83% -7,487.59% 48.32% 54.79% 538.41% 87.74% -73.65% 294.65%
Invested Capital Q/Q Growth		 0.30% 1.56% 0.40% 0.90% 0.48% -0.53% 0.90% -1.50% 0.23% 0.89% -0.28%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 55.70% 55.07% 55.32% 56.52% 57.33% 55.33% 55.01% 49.16% 58.49% 57.86% 57.49%
EBITDA Margin		 21.31% 17.44% 19.98% 26.88% 20.80% 11.10% 16.85% 9.40% 15.28% 14.36% 17.27%
Operating Margin		 15.35% 11.21% 14.18% 20.75% 15.18% 4.97% 11.15% 3.52% 9.81% 8.02% 10.60%
EBIT Margin		 15.35% 11.21% 14.18% 20.75% 15.18% 4.97% 11.02% 3.52% 9.81% 8.02% 11.42%
Profit (Net Income) Margin		 10.11% 6.31% 9.03% 15.47% 9.76% 1.88% 6.26% 0.85% 4.49% 4.36% 6.72%
Tax Burden Percent		 81.29% 77.54% 79.91% 86.77% 77.34% 78.68% 71.60% 66.91% 57.22% 75.34% 73.60%
Interest Burden Percent		 81.06% 72.60% 79.64% 85.92% 83.13% 48.08% 79.27% 35.97% 79.87% 72.22% 79.91%
Effective Tax Rate		 18.71% 22.46% 20.09% 13.23% 22.66% 21.32% 28.40% 33.09% 42.78% 24.66% 26.40%
Return on Invested Capital (ROIC)		 8.74% 6.09% 8.01% 12.83% 8.46% 2.82% 5.77% 1.73% 4.21% 4.50% 5.80%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.95% 5.34% 7.22% 11.98% 7.71% 2.10% 5.11% 1.14% 3.70% 3.87% 5.35%
Return on Net Nonoperating Assets (RNNOA)		 9.94% 6.63% 8.47% 13.06% 7.85% 2.08% 4.84% 1.01% 3.11% 3.26% 4.30%
Return on Equity (ROE)		 18.68% 12.72% 16.48% 25.89% 16.31% 4.90% 10.61% 2.74% 7.31% 7.76% 10.10%
Cash Return on Invested Capital (CROIC)		 4.72% 5.15% 5.76% 5.88% 5.65% 6.88% 5.78% 5.52% 4.61% 3.59% 4.74%
Operating Return on Assets (OROA)		 8.31% 6.11% 7.86% 11.52% 8.61% 2.84% 6.34% 2.04% 5.83% 4.76% 6.77%
Return on Assets (ROA)		 5.48% 3.44% 5.00% 8.59% 5.54% 1.07% 3.60% 0.49% 2.66% 2.59% 3.98%
Return on Common Equity (ROCE)		 18.68% 12.72% 16.48% 25.89% 16.31% 4.90% 10.61% 2.74% 7.31% 7.76% 10.10%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 9.64% 11.18% 14.12% 0.00% 12.15% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 41 27 38 57 41 13 27 7.95 21 19 27
NOPAT Margin		 12.47% 8.69% 11.33% 18.00% 11.74% 3.91% 7.98% 2.35% 5.62% 6.04% 7.80%
Net Nonoperating Expense Percent (NNEP)		 0.78% 0.75% 0.79% 0.85% 0.75% 0.72% 0.66% 0.59% 0.50% 0.63% 0.45%
Return On Investment Capital (ROIC_SIMPLE)		 2.26% - - - 2.17% 0.67% 1.45% 0.43% 1.12% 1.02% 1.43%
Cost of Revenue to Revenue		 44.30% 44.93% 44.68% 43.48% 42.67% 44.67% 44.99% 50.84% 41.51% 42.14% 42.51%
SG&A Expenses to Revenue		 36.07% 39.50% 36.89% 31.49% 38.35% 46.33% 39.73% 41.53% 44.68% 44.69% 42.38%
R&D to Revenue		 4.29% 4.35% 4.25% 4.28% 3.81% 4.03% 4.13% 4.11% 3.99% 5.15% 4.51%
Operating Expenses to Revenue		 40.36% 43.86% 41.14% 35.77% 42.16% 50.36% 43.86% 45.64% 48.68% 49.85% 46.89%
Earnings before Interest and Taxes (EBIT)		 50 35 47 66 52 16 38 12 37 25 39
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 70 54 66 85 72 36 58 32 57 46 59
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.99 2.87 2.42 2.38 2.20 1.91 1.61 1.44 1.22 1.07 0.95
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)		 2.68 1.95 1.67 1.72 1.62 1.42 1.22 1.08 0.91 0.80 0.72
Price to Earnings (P/E)		 51.69 29.82 21.66 16.83 15.97 15.72 14.62 22.72 26.72 19.88 17.44
Dividend Yield		 0.74% 1.00% 1.15% 1.11% 1.17% 1.32% 1.54% 1.70% 1.97% 2.26% 2.44%
Earnings Yield		 1.93% 3.35% 4.62% 5.94% 6.26% 6.36% 6.84% 4.40% 3.74% 5.03% 5.73%
Enterprise Value to Invested Capital (EV/IC)		 2.40 1.88 1.69 1.70 1.62 1.48 1.33 1.25 1.12 1.04 0.97
Enterprise Value to Revenue (EV/Rev)		 3.44 2.71 2.41 2.42 2.29 2.07 1.85 1.69 1.49 1.40 1.30
Enterprise Value to EBITDA (EV/EBITDA)		 21.57 15.45 12.79 11.32 10.78 10.51 9.80 11.50 11.26 9.96 9.34
Enterprise Value to EBIT (EV/EBIT)		 35.50 23.88 18.89 15.75 14.95 15.02 14.27 19.16 20.07 17.10 16.16
Enterprise Value to NOPAT (EV/NOPAT)		 44.52 30.10 23.74 19.14 18.41 18.38 17.83 25.57 30.21 25.50 23.80
Enterprise Value to Operating Cash Flow (EV/OCF)		 34.16 21.56 17.56 17.33 17.94 15.18 14.89 13.54 12.02 13.43 11.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 51.08 36.82 29.54 29.37 29.23 21.70 23.20 22.49 24.23 29.06 20.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.17 1.16 1.10 1.01 0.94 0.91 0.88 0.85 0.81 0.85 0.80
Long-Term Debt to Equity		 1.17 1.16 1.09 1.01 0.94 0.91 0.88 0.85 0.81 0.85 0.63
Financial Leverage		 1.25 1.24 1.17 1.09 1.02 0.99 0.95 0.88 0.84 0.84 0.80
Leverage Ratio		 2.91 2.88 2.77 2.68 2.56 2.51 2.45 2.39 2.32 2.31 2.26
Compound Leverage Factor		 2.36 2.09 2.21 2.31 2.13 1.21 1.94 0.86 1.85 1.67 1.81
Debt to Total Capital		 53.86% 53.69% 52.27% 50.21% 48.48% 47.71% 46.79% 45.85% 44.70% 45.83% 44.48%
Short-Term Debt to Total Capital		 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 9.45%
Long-Term Debt to Total Capital		 53.82% 53.65% 52.24% 50.17% 48.44% 47.68% 46.75% 45.81% 44.66% 45.79% 35.03%
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		 46.14% 46.31% 47.73% 49.79% 51.52% 52.29% 53.21% 54.15% 55.30% 54.17% 55.52%
Debt to EBITDA		 4.91 4.49 4.02 3.41 3.26 3.44 3.52 4.32 4.58 4.47 4.37
Net Debt to EBITDA		 4.78 4.33 3.90 3.27 3.17 3.31 3.38 4.13 4.36 4.29 4.18
Long-Term Debt to EBITDA		 4.90 4.48 4.02 3.41 3.26 3.44 3.51 4.32 4.58 4.47 3.44
Debt to NOPAT		 10.13 8.74 7.46 5.77 5.57 6.02 6.39 9.62 12.30 11.46 11.14
Net Debt to NOPAT		 9.87 8.44 7.24 5.54 5.42 5.78 6.15 9.18 11.70 10.99 10.64
Long-Term Debt to NOPAT		 10.12 8.73 7.46 5.77 5.56 6.02 6.39 9.61 12.29 11.45 8.77
Altman Z-Score		 2.41 2.07 2.03 2.12 2.11 1.97 1.89 1.79 1.77 1.69 1.62
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		 1.98 2.18 2.34 2.27 2.30 2.26 2.23 2.10 2.14 2.29 1.48
Quick Ratio		 0.86 0.94 1.01 0.96 0.94 0.91 0.91 0.84 0.92 0.90 0.61
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 28 6.46 12 0.27 -20 -10 -4.59 20 38 9.94 39
Operating Cash Flow to CapEx		 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% 1,264.31%
Free Cash Flow to Firm to Interest Expense		 2.99 0.67 1.28 0.03 -2.22 -1.22 -0.59 2.64 5.12 1.41 4.98
Operating Cash Flow to Interest Expense		 5.93 3.04 4.51 5.53 4.89 5.01 3.72 7.06 6.29 1.91 4.71
Operating Cash Flow Less CapEx to Interest Expense		 5.42 2.82 4.14 5.16 4.44 4.56 2.99 6.38 5.59 1.50 4.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.54 0.55 0.55 0.56 0.57 0.57 0.57 0.58 0.59 0.59 0.59
Accounts Receivable Turnover		 5.74 5.55 5.45 5.58 5.45 5.69 5.60 5.91 5.66 6.09 5.79
Inventory Turnover		 1.75 1.73 1.76 1.71 1.73 1.71 1.70 1.75 1.78 1.70 1.68
Fixed Asset Turnover		 10.53 10.81 10.91 10.83 11.05 11.25 11.34 11.75 12.00 12.02 12.08
Accounts Payable Turnover		 7.04 6.38 6.34 6.13 6.03 5.85 5.76 5.83 6.37 6.11 6.00
Days Sales Outstanding (DSO)		 63.58 65.77 67.00 65.37 67.02 64.15 65.14 61.78 64.46 59.90 63.06
Days Inventory Outstanding (DIO)		 208.87 211.07 207.98 213.53 211.45 214.06 214.37 209.11 205.31 214.12 217.44
Days Payable Outstanding (DPO)		 51.88 57.23 57.58 59.56 60.56 62.41 63.36 62.61 57.27 59.75 60.82
Cash Conversion Cycle (CCC)		 220.56 219.61 217.41 219.34 217.92 215.80 216.15 208.29 212.50 214.26 219.67
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,784 1,812 1,819 1,835 1,844 1,834 1,851 1,823 1,827 1,844 1,838
Invested Capital Turnover		 0.70 0.70 0.71 0.71 0.72 0.72 0.72 0.74 0.75 0.75 0.74
Increase / (Decrease) in Invested Capital		 12 21 25 57 60 23 32 -12 -17 9.20 -12
Enterprise Value (EV)		 4,282 3,413 3,072 3,120 2,995 2,723 2,459 2,271 2,051 1,916 1,782
Market Capitalization		 3,332 2,456 2,135 2,217 2,114 1,867 1,611 1,456 1,257 1,090 985
Book Value per Share		 $27.13 $27.77 $28.63 $30.26 $31.16 $31.63 $32.41 $32.57 $33.36 $33.01 $34.59
Tangible Book Value per Share		 ($20.23) ($19.26) ($18.10) ($16.20) ($14.90) ($14.17) ($13.12) ($12.66) ($11.49) ($11.77) ($10.63)
Total Capital		 1,808 1,845 1,848 1,874 1,868 1,870 1,885 1,862 1,868 1,879 1,876
Total Debt		 974 991 966 941 906 892 882 854 835 861 834
Total Long-Term Debt		 973 990 965 940 905 891 881 853 834 860 657
Net Debt		 950 957 937 902 881 857 848 815 794 826 797
Capital Expenditures (CapEx)		 4.86 2.04 3.59 3.42 4.04 3.78 5.73 5.19 5.11 2.89 2.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 281 311 329 321 338 321 330 309 318 344 360
Debt-free Net Working Capital (DFNWC)		 306 345 358 359 363 357 364 348 359 379 397
Net Working Capital (NWC)		 305 344 357 359 362 356 363 347 358 378 220
Net Nonoperating Expense (NNE)		 7.73 7.44 7.67 8.03 6.85 6.52 5.90 5.09 4.22 5.32 3.72
Net Nonoperating Obligations (NNO)		 950 957 937 902 881 857 848 815 794 826 797
Total Depreciation and Amortization (D&A)		 20 19 19 19 19 20 20 20 20 20 20
Debt-free, Cash-free Net Working Capital to Revenue		 22.60% 24.66% 25.80% 24.92% 25.87% 24.40% 24.86% 22.95% 23.11% 25.07% 26.26%
Debt-free Net Working Capital to Revenue		 24.55% 27.35% 28.07% 27.90% 27.74% 27.09% 27.42% 25.84% 26.08% 27.62% 28.98%
Net Working Capital to Revenue		 24.50% 27.29% 28.01% 27.85% 27.69% 27.04% 27.37% 25.79% 26.03% 27.57% 16.06%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.07 $0.64 $0.97 $1.59 $1.09 $0.19 $0.69 $0.09 $0.55 $0.45 $0.77
Adjusted Weighted Average Basic Shares Outstanding		 30.78M 30.78M 30.81M 30.86M 30.91M 30.97M 30.95M 30.96M 30.83M 30.59M 30.07M
Adjusted Diluted Earnings per Share		 $1.05 $0.63 $0.96 $1.57 $1.09 $0.19 $0.69 $0.09 $0.54 $0.45 $0.77
Adjusted Weighted Average Diluted Shares Outstanding		 30.78M 31.27M 31.11M 31.11M 30.91M 31.15M 31.05M 31.05M 30.83M 30.62M 30.12M
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		 30.78M 30.80M 30.83M 30.89M 30.91M 30.94M 30.95M 30.97M 30.83M 30.11M 29.95M
Normalized Net Operating Profit after Tax (NOPAT)		 41 27 38 57 41 13 27 7.95 21 19 27
Normalized NOPAT Margin		 12.47% 8.69% 11.33% 18.00% 11.74% 3.91% 7.98% 2.35% 5.62% 6.04% 7.80%
Pre Tax Income Margin		 12.44% 8.14% 11.30% 17.83% 12.62% 2.39% 8.74% 1.26% 7.84% 5.79% 9.13%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.28 3.65 4.91 7.10 5.93 1.93 4.82 1.56 4.97 3.60 4.98
NOPAT to Interest Expense		 4.29 2.83 3.92 6.16 4.58 1.52 3.49 1.05 2.84 2.71 3.40
EBIT Less CapEx to Interest Expense		 4.77 3.44 4.54 6.73 5.47 1.47 4.09 0.88 4.28 3.19 4.60
NOPAT Less CapEx to Interest Expense		 3.78 2.62 3.55 5.79 4.13 1.06 2.76 0.36 2.15 2.30 3.03
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 38.01% 29.82% 24.96% 18.69% 18.62% 20.78% 22.42% 38.60% 52.59% 33.85% 21.91%
Augmented Payout Ratio		 38.01% 29.82% 24.96% 18.69% 18.62% 20.78% 22.42% 38.60% 52.59% 33.85% 21.91%

Financials Breakdown Chart

Key Financial Trends

CONMED’s latest quarter shows a business that is still profitable and generating cash, but with clear signs of pressure on growth, margins, and leverage. In Q1 2026, revenue fell year over year, operating income tightened, and free cash generation was positive but not strong enough to offset a still-heavy debt load. Over the last several years, the company has remained consistently profitable, but the recent trend points to slower sales and a more strained balance sheet than investors saw in 2024.

  • Q1 2026 remained profitable: CNMD earned $13.8 million in net income, or $0.45 per diluted share.
  • Operating cash flow was positive: The company generated $13.5 million from operations in Q1 2026.
  • Gross profit stayed solid: Q1 2026 gross profit was $183.4 million, showing the core business is still producing meaningful profit dollars.
  • Cash balance improved modestly from the prior quarter: Cash and equivalents rose to $35.0 million from $33.9 million at Q2 2025, though it was below year-end 2025 levels.
  • Debt has come down from early 2024: Long-term debt of $860.2 million in Q1 2026 was below the roughly $990.1 million level seen in Q1 2024.
  • Revenue was down sequentially and year over year: Q1 2026 revenue of $317.0 million was below $373.2 million in Q4 2025 and $321.3 million in Q1 2025.
  • Margins compressed versus stronger periods: Q1 2026 operating margin was about 8.0%, well below the stronger levels seen in 2024 and late 2025.
  • Inventory remains high: Inventories were $366.1 million in Q1 2026, which suggests working-capital needs remain elevated.
  • Goodwill and intangibles still dominate the asset base: These noncash assets make up a large share of total assets, which is common after acquisitions but worth watching.
  • Interest expense remains a meaningful burden: Q1 2026 interest expense was $7.1 million, limiting bottom-line growth.
  • Heavy leverage remains the biggest concern: Total liabilities were $1.30 billion versus equity of $1.02 billion, and long-term debt was still $860.2 million.
  • Operating capital was a drag in Q1 2026: Changes in operating assets and liabilities reduced operating cash flow by $22.1 million.
  • Cash declined from the Q1 2025 level: Cash and equivalents were $35.0 million in Q1 2026 versus $35.5 million in Q1 2025, despite continued profitability.

Trend takeaway: Looking across the past four years, CONMED has shown the ability to stay in the black and produce operating cash, but the trajectory has become less favorable recently. Revenue grew meaningfully from 2023 into 2024 and peaked in late 2025, but the most recent quarters show softness in sales and profitability. At the same time, the company continues to carry substantial debt, so investors will likely focus on whether management can stabilize growth while keeping leverage on a downward path.

Bottom line: CNMD does not look distressed, but it does look like a mature, moderately leveraged med-tech company facing slower near-term momentum. The stock story here is less about explosive growth and more about whether management can defend margins, control debt, and reaccelerate revenue.

08/15/26 11:19 PM ETAI Generated. May Contain Errors.

CONMED Financials - Frequently Asked Questions

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.

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.

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

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%.

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.

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.

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%.


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Financial statements for NYSE:CNMD last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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