CONMED Corporation (CNMD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Oct 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CNMD SEC filings page.
CONMED Corporation (CNMD) reported $1.4B in revenue for fiscal year 2025, up 5.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
CONMED’s sales kept growing, but FY2025 exposed a cost-heavy earnings setback even as cash generation and balance-sheet leverage improved.
Operating cash flow rose2.2% while net income fell64.5% . Because operating cash flow was 362.7% of net income, cash generation held up far better than reported profit, revealing a substantial earnings-to-cash disconnect.
Gross margin fell
The balance sheet moved in a more conservative direction despite the earnings setback: long-term debt fell
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of CONMED Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CONMED Corporation has an operating margin of 7.5%, meaning the company retains $7 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is down from 15.3% the prior year.
CONMED Corporation's revenue grew 5.2% year-over-year to $1.4B, a solid pace of expansion. This earns a growth score of 49/100.
CONMED Corporation has elevated debt relative to equity (D/E of 0.81), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 11/100, reflecting increased financial risk.
CONMED Corporation's current ratio of 2.14 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.
CONMED Corporation converts 11.0% of revenue into free cash flow ($150.9M). This strong cash generation earns a score of 68/100.
CONMED Corporation's ROE of 4.5% shows moderate profitability relative to equity, earning a score of 57/100. This is down from 13.8% the prior year.
CONMED Corporation scores 1.92, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $1.4B against total liabilities of $1.3B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
CONMED Corporation passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, CONMED Corporation generates $3.63 in operating cash flow ($170.7M OCF vs $47.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CONMED Corporation earns $3.30 in operating income for every $1 of interest expense ($102.6M vs $31.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
CONMED Corporation generated $335.6M in revenue in Q3 2026. This represents a decrease of 0.7% from the same quarter a year earlier. Against the prior quarter it is down 2.3%.
CONMED Corporation's EBITDA was $49.9M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 100.1% from the same quarter a year earlier.
CONMED Corporation reported $19.8M in net income in Q3 2026. This represents an increase of 592.4% from the same quarter a year earlier. Against the prior quarter it is down 14.2%.
CONMED Corporation earned $0.66 per diluted share (EPS) in Q3 2026. This represents an increase of 633.3% from the same quarter a year earlier. Against the prior quarter it is down 14.3%.
Cash & Balance Sheet
CONMED Corporation generated $46.7M in free cash flow in Q3 2026, representing cash available after capex. This represents a decrease of 3.7% from the same quarter a year earlier.
CONMED Corporation held $48.0M in cash against $635.8M in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Margins & Returns
CONMED Corporation's gross margin was 56.4% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 7.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.
CONMED Corporation's operating margin was 11.1% in Q3 2026, reflecting core business profitability. This is up 7.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
CONMED Corporation's net profit margin was 5.9% in Q3 2026, showing the share of revenue converted to profit. This is up 5.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
CONMED Corporation's quarterly ROE was 1.9% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Capital Allocation
CONMED Corporation invested $15.6M in research and development in Q3 2026. This represents an increase of 12.1% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.
CONMED Corporation spent $6.2M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
CONMED Corporation invested $2.7M in capex in Q3 2026, funding long-term assets and infrastructure. This represents a decrease of 48.3% from the same quarter a year earlier.
CNMD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $335.6M-0.7% | $343.5M+0.3% | $317.0M | N/A | $337.9M+6.7% | $342.3M+3.1% | N/A | $345.9M+5.8% |
| Cost of Revenue | $146.4M-14.8% | $146.0M-5.2% | $133.6M | N/A | $171.8M+24.8% | $154.0M+3.8% | N/A | $147.6M+1.9% |
| Gross Profit | $189.1M+13.9% | $197.5M+4.9% | $183.4M | N/A | $166.1M-7.2% | $188.3M+2.5% | N/A | $198.3M+8.9% |
| R&D Expenses | $15.6M+12.1% | $15.5M+9.6% | $16.3M | N/A | $13.9M+2.5% | $14.1M+0.3% | N/A | $13.2M-6.1% |
| SG&A Expenses | $136.4M-2.8% | $145.6M+7.0% | $141.7M | N/A | $140.3M+40.7% | $136.0M+11.0% | N/A | $132.7M+12.5% |
| Operating Income | $37.1M+212.7% | $36.4M-4.6% | $25.4M | N/A | $11.9M-81.9% | $38.2M-19.0% | N/A | $52.5M+4.6% |
| EBITDA | $49.9M+100.1% | N/A | $38.3M | N/A | $25.0M-68.3% | N/A | N/A | $65.8M+3.6% |
| Interest Expense | $11.1M+46.4% | $7.9M+0.8% | $7.1M | N/A | $7.6M-17.8% | $7.8M-18.4% | N/A | $8.9M-6.8% |
| Income Tax | $6.2M+339.4% | $8.3M-2.6% | $4.5M | N/A | $1.4M-81.1% | $8.5M+12.7% | N/A | $9.9M+29.9% |
| Net Income | $19.8M+592.4% | $23.1M+7.7% | $13.8M | N/A | $2.9M-94.2% | $21.4M-28.5% | N/A | $33.8M+2.1% |
| EPS (Basic) | $0.66+633.3% | $0.77+11.6% | $0.45 | $0.54-50.5% | $0.09-94.3% | $0.69-28.9% | N/A | $1.09+0.9% |
| EPS (Diluted) | $0.66+633.3% | $0.77+11.6% | $0.45 | $0.54-50.0% | $0.09-94.3% | $0.69-28.1% | N/A | $1.08+2.9% |
| Diluted Shares (Avg) | 30M-3.0% | 30M-3.0% | 31M | N/A | 31M-0.2% | 31M-0.2% | N/A | N/A |
CNMD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.3B-0.8% | $2.3B-1.2% | $2.3B+0.8% | $2.3B+0.8% | $2.3B+0.3% | $2.3B+1.9% | $2.3B-0.5% | $2.3B+0.3% |
| Current Assets | $682.0M+3.0% | $675.7M+2.7% | $670.6M+4.9% | $672.9M+5.1% | $662.2M+3.3% | $657.8M+5.4% | $639.0M+0.5% | $640.0M+4.0% |
| Cash & Equivalents | $48.0M+23.2% | $37.3M+10.0% | $35.0M | $40.8M+66.9% | $38.9M+1.2% | $33.9M+17.5% | N/A | $24.5M+0.7% |
| Short-Term Investments | $0n/m | $0n/m | N/A | $0n/m | $0n/m | $0n/m | N/A | $0n/m |
| Inventory | $362.8M-0.4% | $360.2M-0.6% | $366.1M+3.2% | $355.5M+2.5% | $364.4M+6.4% | $362.3M+12.4% | $354.7M+10.0% | $346.7M+8.9% |
| Accounts Receivable | $233.9M+4.0% | $239.8M+2.4% | $228.7M+3.4% | $247.8M+4.2% | $224.9M-2.7% | $234.1M-2.1% | $221.1M-8.4% | $237.7M-1.9% |
| Long-Term Investments | $0n/m | $0n/m | N/A | $0n/m | $0n/m | $0n/m | N/A | $0n/m |
| Goodwill | $796.9M-1.2% | $796.9M-1.2% | $806.9M+0.1% | $807.0M+0.2% | $806.9M0.0% | $806.9M+0.1% | $805.7M-0.1% | $805.4M-0.2% |
| Total Liabilities | $1.2B-5.3% | $1.3B-5.0% | $1.3B-1.7% | $1.3B-3.8% | $1.3B-5.0% | $1.3B-5.6% | $1.3B-9.2% | $1.3B-8.3% |
| Current Liabilities | $459.0M+45.8% | $455.4M+54.5% | $292.7M+3.4% | $315.0M+13.3% | $314.7M+11.5% | $294.8M+10.7% | $283.1M-2.8% | $278.1M-10.5% |
| Non-Current Liabilities | $785.6M-21.4% | $803.5M-22.0% | $1.0B-3.1% | $977.6M-8.2% | $999.5M-9.2% | $1.0B-9.4% | $1.0B-10.9% | $1.1B-7.8% |
| Long-Term Debt | $635.8M-25.5% | $657.0M-25.4% | $25.0M-97.2% | $834.2M-7.8% | $853.0M-9.3% | $881.1M-8.7% | $891.4M-10.0% | $905.1M-7.0% |
| Total Equity | $1.1B+5.1% | $1.0B+3.8% | $1.0B+4.1% | $1.0B+7.3% | $1.0B+8.1% | $1.0B+13.7% | $977.6M+14.4% | $962.7M+15.4% |
| Retained Earnings | $645.5M+12.8% | $625.7M+8.7% | $602.6M+7.6% | $588.8M+5.1% | $572.0M+7.4% | $575.4M+17.4% | $560.1M+20.2% | $560.3M+23.8% |
CNMD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $49.4M-8.0% | N/A | $13.5M | $46.3M+6.9% | $53.7M+4.8% | N/A | N/A | $43.3M-23.2% |
| Depreciation & Amortization | $12.8M-2.3% | N/A | $12.9M | $13.2M+2.1% | $13.1M+0.6% | N/A | N/A | $12.9M-0.4% |
| Stock-Based Compensation | N/A | $5.2M+6.7% | $5.5M | N/A | $4.6M-25.1% | $4.9M-29.7% | N/A | N/A |
| Capital Expenditures | $2.7M-48.3% | N/A | $2.9M | $5.1M+26.5% | $5.2M+51.7% | N/A | N/A | $4.0M-16.8% |
| Free Cash Flow | $46.7M-3.7% | N/A | $10.6M | $41.2M+4.9% | $48.5M+1.5% | N/A | N/A | $39.3M-23.8% |
| Investing Cash Flow | -$1.9Mn/m | N/A | $4.1M | -$7.1Mn/m | -$5.2Mn/m | N/A | N/A | -$4.0Mn/m |
| Financing Cash Flow | -$37.0Mn/m | N/A | -$22.6M | -$37.4Mn/m | -$43.5Mn/m | N/A | N/A | -$51.1Mn/m |
| Dividends Paid | $0-100.0% | N/A | $6.2M | $6.2M+0.2% | $6.2M+0.4% | N/A | N/A | $6.2M+0.5% |
| Share Buybacks | $6.2Mn/m | N/A | $37.0M | N/A | $0 | N/A | N/A | N/A |
CNMD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.4%+7.2pp | 57.5%+2.5pp | 57.9% | N/A | 49.2%-7.4pp | 55.0%-0.3pp | N/A | 57.3%+1.6pp |
| Operating Margin | 11.1%+7.6pp | 10.6%-0.6pp | 8.0% | N/A | 3.5%-17.2pp | 11.2%-3.0pp | N/A | 15.2%-0.2pp |
| Net Margin | 5.9%+5.0pp | 6.7%+0.5pp | 4.4% | N/A | 0.9%-14.6pp | 6.3%-2.8pp | N/A | 9.8%-0.3pp |
| Return on Equity | 1.9%+1.6pp | 2.2%+0.1pp | 1.4% | N/A | 0.3%-5.0pp | 2.1%-1.3pp | N/A | 3.5%-0.5pp |
| Return on Assets | 0.9%+0.7pp | 1.0%+0.1pp | 0.6% | N/A | 0.1%-2.0pp | 0.9%-0.4pp | N/A | 1.5%0.0pp |
| Current Ratio | 1.49-0.6x | 1.48-0.7x | 2.290.0x | 2.14-0.2x | 2.10-0.2x | 2.23-0.1x | 2.26+0.1x | 2.30+0.3x |
| Debt-to-Equity | 0.60-0.2x | 0.63-0.2x | 0.02-0.9x | 0.81-0.1x | 0.85-0.2x | 0.88-0.2x | 0.91-0.2x | 0.94-0.2x |
| Liabilities-to-Equity | 1.17-0.1x | 1.21-0.1x | 1.27-0.1x | 1.25-0.1x | 1.30-0.2x | 1.32-0.3x | 1.35-0.4x | 1.40-0.4x |
| Asset Turnover | 0.150.0x | 0.150.0x | 0.14 | N/A | 0.150.0x | 0.150.0x | N/A | 0.150.0x |
| FCF Margin | 13.9%-0.4pp | N/A | 3.3% | N/A | 14.3%-0.7pp | N/A | N/A | 11.4%-4.4pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| CONMED Corporation CNMD | FY2025 | $1.4B | $47.1M | 3.4% | $1.4B | 52/100 |
| Enovis Corporation ENOV | FY2025 | $2.2B | -$1.2B | -52.7% | $1.2B | 34/100 |
| Tandem Diabetes Care, Inc. TNDM | FY2025 | $1.0B | -$204.7M | -20.2% | $1.3B | 40/100 |
| Integra LifeSciences Holdings IART | FY2025 | $1.6B | -$516.5M | -31.6% | $1.1B | 37/100 |
| Artivion, Inc. AORT | FY2025 | $441.3M | $9.8M | 2.2% | $1.1B | 48/100 |
| Inspire Medical Systems, Inc. INSP | FY2025 | $912.0M | $145.4M | 16.0% | $1.9B | 64/100 |
Where CONMED Corporation Ranks
Frequently Asked Questions
CONMED Corporation (CNMD) reported $1.4B in total revenue for fiscal year 2025. This represents a 5.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
CONMED Corporation (CNMD) revenue grew by 5.2% year-over-year, from $1.3B to $1.4B in fiscal year 2025.
Yes, CONMED Corporation (CNMD) reported a net income of $47.1M in fiscal year 2025, with a net profit margin of 3.4%.
CONMED Corporation (CNMD) had EBITDA of $155.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, CONMED Corporation (CNMD) had $40.8M in cash and equivalents against $834.2M in long-term debt.
CONMED Corporation (CNMD) had a gross margin of 54.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
CONMED Corporation (CNMD) had an operating margin of 7.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
CONMED Corporation (CNMD) had a net profit margin of 3.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, CONMED Corporation (CNMD) paid $0.60 per share in dividends during fiscal year 2025.
CONMED Corporation (CNMD) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
CONMED Corporation (CNMD) generated $150.9M in free cash flow during fiscal year 2025. This represents a -2.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
CONMED Corporation (CNMD) generated $170.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
CONMED Corporation (CNMD) had $2.3B in total assets as of fiscal year 2025, including both current and long-term assets.
CONMED Corporation (CNMD) invested $19.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
CONMED Corporation (CNMD) invested $55.9M in research and development during fiscal year 2025.
CONMED Corporation (CNMD) had a current ratio of 2.14 as of fiscal year 2025, which is generally considered healthy.
CONMED Corporation (CNMD) had a debt-to-equity ratio of 0.81 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
CONMED Corporation (CNMD) had a liabilities-to-equity ratio of 1.25 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
CONMED Corporation (CNMD) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
CONMED Corporation (CNMD) trades at 29.5x earnings, its market capitalization divided by $47.1M net income, FY2025. The market capitalization is $1.4B as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
CONMED Corporation (CNMD) trades at 1.0x sales, its market capitalization divided by $1.4B revenue, FY2025. The market capitalization is $1.4B as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
CONMED Corporation (CNMD) has an Altman Z-Score of 1.92, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
CONMED Corporation (CNMD) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
CONMED Corporation (CNMD) has an earnings quality ratio of 3.63x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
CONMED Corporation (CNMD) has an interest coverage ratio of 3.30x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
CONMED Corporation (CNMD) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.