NYSE : CNMD
CONMED Corporation — Financial statements
Healthcare · Medical Devices · United States
Last price 44.29 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.32B
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Financial statements
CONMED Corporation (CNMD) reported revenue of 1.37B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.37B | 1.37B | 1.31B | 1.24B | 1.05B | 1.01B |
| Cost of Revenue | 619.05M | 634.15M | 573.98M | 568.50M | 469.73M | 442.60M |
| Gross Profit | 750.24M | 740.58M | 733.03M | 676.25M | 575.75M | 568.04M |
| Selling, General & Admin | 547.67M | 556.12M | 519.33M | 505.46M | 441.42M | 414.73M |
| Research & Development | 62.32M | 55.88M | 54.43M | 52.60M | 47.15M | 43.56M |
| Operating Expenses | 609.99M | 612.00M | 573.75M | 558.06M | 488.57M | 458.29M |
| Operating Income | 140.25M | 128.57M | 159.28M | 118.18M | 87.17M | 109.74M |
| Interest Expense | -36.95M | -31.09M | -37.30M | -39.77M | -28.91M | -35.48M |
| Other Non Operating Income (Expenses) | -1.77M | -418.00K | -52.00K | |||
| EBT Excluding Unusual Items | 101.53M | 97.07M | 121.98M | 78.41M | 58.27M | 74.20M |
| Merger & Restructuring Charges | -2.40M | -12.90M | -14.60M | |||
| Other Unusual Items | 5.84M | -13.05M | 41.05M | 2.42M | -114.53M | -1.10M |
| Pretax Income | 104.96M | 71.12M | 163.03M | 80.83M | -70.86M | 73.11M |
| Income Tax Expense | 31.53M | 24.06M | 30.61M | 16.37M | 9.72M | 10.56M |
| Net Income | 73.43M | 47.05M | 132.42M | 64.46M | -80.58M | 62.54M |
| Net Income to Common | 73.43M | 47.05M | 132.42M | 64.46M | -80.58M | 62.54M |
| Shares Outstanding (Basic) | 30.40M | 31.04M | 30.85M | 30.67M | 30.04M | 29.16M |
| Shares Outstanding (Diluted) | 30.48M | 31.15M | 31.15M | 31.55M | 30.04M | 32.22M |
| EPS (Basic) | 2.42 | 1.52 | 4.29 | 2.10 | -2.68 | 2.14 |
| EPS (Diluted) | 2.41 | 1.51 | 4.25 | 2.04 | -2.68 | 1.94 |
| Free Cash Flow | 132.69M | 150.88M | 153.88M | 106.32M | 11.58M | 96.90M |
| Free Cash Flow Per Share | 4.35 | 4.84 | 4.94 | 3.37 | 0.39 | 3.01 |
| Dividend Per Share | 0.60 | 0.80 | 0.80 | 0.80 | 0.80 | |
| Gross Margin | 54.79% | 53.87% | 56.08% | 54.33% | 55.07% | 56.21% |
| Operating Margin | 10.24% | 9.35% | 12.19% | 9.49% | 8.34% | 10.86% |
| Profit Margin | 5.36% | 3.42% | 10.13% | 5.18% | -7.71% | 6.19% |
| Free Cash Flow Margin | 9.69% | 10.98% | 11.77% | 8.54% | 1.11% | 9.59% |
| EBITDA | 214.97M | 201.65M | 229.74M | 188.36M | 154.59M | 177.19M |
| EBITDA Margin | 15.70% | 14.67% | 17.58% | 15.13% | 14.79% | 17.53% |
| D&A For EBITDA | 74.72M | 73.08M | 70.46M | 70.17M | 67.42M | 67.44M |
| EBIT | 140.25M | 128.57M | 159.28M | 118.18M | 87.17M | 109.74M |
| EBIT Margin | 10.24% | 9.35% | 12.19% | 9.49% | 8.34% | 10.86% |
| Effective Tax Rate | 30.04% | 33.83% | 18.77% | 20.25% | 14.45% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 47.97M | 40.82M | 24.46M | 24.30M | 28.94M | 20.85M |
| Cash & Short-Term Investments | 47.97M | 40.82M | 24.46M | 24.30M | 28.94M | 20.85M |
| Receivables | 233.91M | 247.83M | 237.73M | 242.28M | 191.34M | 183.88M |
| Inventory | 362.83M | 355.54M | 346.72M | 318.32M | 332.32M | 231.64M |
| Prepaid Expenses | 34.46M | 28.67M | 25.69M | 30.19M | 24.98M | 18.85M |
| Other Current Assets | 2.87M | 5.41M | 564.00K | 3.64M | 4.90M | |
| Total Current Assets | 682.04M | 672.86M | 640.01M | 615.65M | 581.23M | 460.12M |
| Property, Plant & Equipment | 108.77M | 160.82M | 153.43M | 134.43M | 129.62M | 124.49M |
| Goodwill | 796.93M | 807.01M | 805.36M | 806.84M | 815.43M | 617.53M |
| Other Intangible Assets | 556.63M | 583.55M | 619.86M | 652.38M | 685.50M | 474.85M |
| Long-Term Deferred Tax Assets | 13.31M | 11.07M | 11.21M | 9.65M | 9.66M | |
| Other Long-Term Assets | 160.10M | 88.20M | 76.52M | 79.50M | 76.17M | 79.37M |
| Total Assets | 2.30B | 2.33B | 2.31B | 2.30B | 2.30B | 1.77B |
| Accounts Payable | 98.50M | 93.65M | 102.25M | 88.22M | 73.39M | 58.20M |
| Accrued Expenses | 76.62M | 82.14M | 65.37M | 70.07M | 54.73M | 60.49M |
| Current Portion of Long-Term Debt | 69.57M | 11.93M | ||||
| Current Portion of Leases | 180.11M | 9.32M | 8.81M | 8.22M | 7.10M | 7.49M |
| Other Current Liabilities | 103.74M | 129.93M | 101.71M | 144.22M | 91.76M | 58.55M |
| Total Current Liabilities | 458.96M | 315.04M | 278.13M | 310.73M | 296.55M | 196.65M |
| Long-Term Debt | 635.76M | 833.71M | 903.91M | 971.48M | 985.02M | 672.17M |
| Long-Term Leases | 44.45M | 34.44M | 11.55M | 11.81M | 12.97M | |
| Pension & Post-Retirement Benefits | 4.69M | 8.85M | 16.10M | |||
| Long-Term Deferred Tax Liabilities | 88.96M | 79.53M | 74.08M | 60.90M | 66.72M | 68.54M |
| Other Long-Term Liabilities | 60.86M | 19.92M | 53.01M | 106.44M | 183.09M | 14.16M |
| Total Liabilities | 1.24B | 1.29B | 1.34B | 1.47B | 1.55B | 980.58M |
| Common Stock | 313.00K | 313.00K | 313.00K | 313.00K | 313.00K | 313.00K |
| Additional Paid-In Capital | 518.45M | 503.20M | 476.57M | 446.54M | 413.24M | 396.77M |
| Retained Earnings | 645.46M | 588.77M | 560.28M | 452.53M | 412.63M | 496.61M |
| Treasury Stock | -60.13M | -12.89M | -15.63M | -14.99M | -22.78M | -54.05M |
| Comprehensive Income & Other | -44.18M | -46.30M | -58.86M | -50.17M | -57.86M | -54.20M |
| Shareholders' Equity | 1.06B | 1.03B | 962.68M | 834.22M | 745.54M | 785.43M |
| Total Liabilities & Equity | 2.30B | 2.33B | 2.31B | 2.30B | 2.30B | 1.77B |
| Total Debt | 815.87M | 887.49M | 947.16M | 991.25M | 1.07B | 704.54M |
| Net Cash (Debt) | -767.89M | -846.67M | -922.70M | -966.96M | -1.04B | -683.70M |
| Net Cash Per Share | -25.19 | -27.18 | -29.62 | -30.65 | -34.77 | -21.22 |
| Filing Date Shares Outstanding | 29.80M | 30.83M | 30.91M | 30.78M | 30.50M | 29.41M |
| Total Common Shares Outstanding | 29.87M | 30.97M | 30.90M | 30.77M | 30.49M | 29.37M |
| Working Capital | 223.08M | 357.82M | 361.88M | 304.92M | 284.67M | 263.48M |
| Book Value Per Share | 35.49 | 33.36 | 31.15 | 27.12 | 24.45 | 26.74 |
| Tangible Book Value | -293.64M | -357.46M | -462.54M | -625.01M | -755.38M | -306.94M |
| Tangible Book Value Per Share | -9.83 | -11.54 | -14.97 | -20.32 | -24.78 | -10.45 |
| Land | 4.03M | 4.03M | 4.03M | 4.03M | 4.03M | |
| Buildings | 104.48M | 100.94M | 100.30M | 97.21M | 95.52M | |
| Machinery | 248.58M | 245.54M | 233.47M | 220.34M | 207.38M | |
| Construction In Progress | 22.27M | 20.41M | 25.09M | 22.16M | 16.60M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 73.43M | 47.05M | 132.42M | 64.46M | -80.58M | 62.54M |
| Depreciation & Amortization | 74.72M | 73.08M | 70.46M | 70.17M | 67.42M | 67.44M |
| Other Amortization | 5.68M | 6.85M | 7.10M | 7.76M | 7.01M | 17.24M |
| Loss (Gain) From Sale of Assets | -1.82M | |||||
| Stock-Based Compensation | 21.61M | 28.32M | 25.56M | 24.26M | 21.73M | 16.34M |
| Other Operating Activities | 25.16M | 26.84M | -28.85M | -1.72M | 108.49M | 3.90M |
| Change in Accounts Receivable | -9.69M | -2.36M | -1.62M | -47.07M | -5.20M | -9.16M |
| Change in Inventory | -7.09M | -6.73M | -31.63M | 14.07M | -78.56M | -37.81M |
| Change in Accounts Payable | -9.75M | -9.75M | 14.71M | 14.85M | 13.30M | 4.89M |
| Change in Income Taxes | -558.00K | -558.00K | -193.00K | -3.92M | 6.73M | -1.68M |
| Change in Other Net Operating Assets | -25.37M | 7.95M | -20.99M | -17.51M | -26.96M | -11.95M |
| Operating Cash Flow | 146.31M | 170.69M | 166.97M | 125.35M | 33.37M | 111.77M |
| Capital Expenditures | -13.62M | -19.81M | -13.08M | -19.03M | -21.79M | -14.87M |
| Cash Acquisitions | -227.74M | |||||
| Other Investing Activities | -2.00M | -1.15M | -1.00M | |||
| Investing Cash Flow | 6.69M | -20.96M | -13.08M | -20.03M | -249.53M | -14.87M |
| Long-Term Debt Issued | 720.67M | 751.00M | 692.00M | 1.26B | 379.16M | |
| Long-Term Debt Repaid | -795.25M | -823.00M | -780.00M | -897.98M | -460.41M | |
| Net Debt Issued (Repaid) | -32.80M | -74.59M | -72.00M | -88.00M | 362.02M | -81.24M |
| Common Dividends Paid | -6.19M | -24.75M | -24.65M | -24.50M | -23.96M | -23.26M |
| Other Financing Activities | -54.70M | -36.49M | -54.35M | 2.07M | -113.06M | 2.95M |
| Financing Cash Flow | -143.11M | -135.82M | -151.00M | -110.43M | 225.00M | -101.55M |
| Foreign Exchange Rate Adjustments | -848.00K | 2.44M | -2.72M | 470.00K | -741.00K | -1.86M |
| Net Cash Flow | 9.04M | 16.36M | 163.00K | -4.65M | 8.10M | -6.51M |
| Free Cash Flow | 132.69M | 150.88M | 153.88M | 106.32M | 11.58M | 96.90M |
| Free Cash Flow Margin | 9.69% | 10.98% | 11.77% | 8.54% | 1.11% | 9.59% |
| Free Cash Flow Per Share | 4.35 | 4.84 | 4.94 | 3.37 | 0.39 | 3.01 |
| Levered Free Cash Flow | 107.01M | 169.27M | 108.88M | 175.72M | 40.43M | 95.51M |
| Unlevered Free Cash Flow | 125.63M | 183.06M | 126.49M | 194.52M | 53.59M | 103.74M |
| Cash Interest Paid | 25.42M | 25.42M | 32.65M | 33.69M | 26.08M | 21.80M |
| Cash Income Tax Paid | 20.98M | 20.98M | 16.56M | 19.45M | 9.07M | 8.56M |
| Change in Working Capital | -52.46M | -11.45M | -39.72M | -39.58M | -90.70M | -55.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.39B | 1.26B | 2.11B | 3.37B | 2.70B | 4.15B |
| Enterprise Value | 2.16B | 2.07B | 3.02B | 4.35B | 3.71B | 4.83B |
| Last Close Price | 44.29 | 40.60 | 67.70 | 107.19 | 86.12 | 136.67 |
| PE Ratio | 19.35 | 26.72 | 15.96 | 52.24 | 66.29 | |
| Forward PE | 10.11 | 9.42 | 14.72 | 26.27 | 28.25 | 40.05 |
| PS Ratio | 1.02 | 0.92 | 1.62 | 2.71 | 2.58 | 4.10 |
| PB Ratio | 1.25 | 1.22 | 2.20 | 4.04 | 3.62 | 5.28 |
| P/FCF Ratio | 10.56 | 8.33 | 13.74 | 31.68 | 233.33 | 42.78 |
| P/OCF Ratio | 9.58 | 7.37 | 12.66 | 26.87 | 80.98 | 37.09 |
| PEG Ratio | 1.88 | 2.77 | 0.96 | 1.43 | 2.85 | 2.88 |
| EV/Sales Ratio | 1.58 | 1.51 | 2.31 | 3.50 | 3.54 | 4.78 |
| EV/EBITDA Ratio | 10.09 | 10.28 | 13.13 | 23.09 | 23.97 | 27.26 |
| EV/EBIT Ratio | 15.46 | 16.12 | 18.94 | 36.81 | 42.51 | 44.01 |
| EV/FCF Ratio | 16.35 | 13.73 | 19.60 | 40.91 | 319.97 | 49.84 |
| Debt / Equity Ratio | 0.77 | 0.86 | 0.98 | 1.19 | 1.44 | 0.90 |
| Debt / EBITDA Ratio | 3.61 | 4.17 | 3.97 | 5.05 | 6.62 | 3.81 |
| Debt / FCF Ratio | 6.15 | 5.88 | 6.16 | 9.32 | 92.70 | 7.27 |
| Net Debt / Equity Ratio | 0.72 | 0.82 | 0.96 | 1.16 | 1.40 | 0.87 |
| Net Debt / EBITDA Ratio | 3.57 | 4.20 | 4.02 | 5.13 | 6.76 | 3.86 |
| Net Debt / FCF Ratio | 5.79 | 5.61 | 6.00 | 9.10 | 90.20 | 7.05 |
| Asset Turnover | 0.59 | 0.59 | 0.57 | 0.54 | 0.52 | 0.57 |
| Inventory Turnover | 1.70 | 1.81 | 1.73 | 1.75 | 1.67 | 2.08 |
| Quick Ratio | 0.61 | 0.92 | 0.94 | 0.86 | 0.74 | 1.04 |
| Current Ratio | 1.49 | 2.14 | 2.30 | 1.98 | 1.96 | 2.34 |
| Return on Equity (ROE) | 7.10% | 4.71% | 14.74% | 8.16% | -10.53% | 8.37% |
| Return on Assets (ROA) | 3.79% | 3.47% | 4.32% | 3.21% | 2.68% | 3.90% |
| Return on Invested Capital (ROIC) | 5.35% | 4.52% | 7.02% | 5.25% | 5.35% | 6.42% |
| Return on Capital Employed (ROCE) | 7.60% | 6.40% | 7.90% | 5.90% | 4.40% | 7.00% |
| Earnings Yield | 5.17% | 3.74% | 6.26% | 1.91% | -2.98% | 1.51% |
| FCF Yield | 9.47% | 12.00% | 7.28% | 3.16% | 0.43% | 2.34% |
| Dividend Yield | 1.48% | 1.17% | 0.73% | 0.90% | 0.57% | |
| Payout Ratio | 52.59% | 18.62% | 38.01% | 37.19% | ||
| Buyback Yield / Dilution | 2.14% | 0.00% | 1.26% | -5.02% | 6.75% | -9.34% |
| Total Shareholder Return | 2.14% | 1.48% | 2.43% | -4.29% | 7.66% | -8.77% |