CONMED Corporation (CNMD) Balance Sheet
CNMD balance sheet, 2025
December 31, 2025 · U.S. dollars$2.33B assets = $1.29B liabilities + $1.03B equity
Both columns are drawn to the same scale: what CNMD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CNMD financial health
Current ratio2.14
Comfortable · current assets cover current liabilities 2.14×
Debt / equity0.81
Moderate leverage · $0.81 of debt for each $1 of equity
Equity / assets44.4%
Equity-funded · of assets funded by shareholders
Cash / debt4.9%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles59.7%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
CNMD balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.33B2016 | $2.33B2025 | +6.4%/yr | |
| Total liabilities | $748.4M2016 | $1.29B2025 | +6.3%/yr | |
| Shareholders’ equity | $580.6M2016 | $1.03B2025 | +6.6%/yr | |
| Cash & short-term investments | $27.4M2016 | $40.8M2025 | +4.5%/yr | |
| Total debt | $498.5M2016 | $834.9M2025 | +5.9%/yr | |
| Net cash (debt) | −$471.1M2016 | −$794.1M2025 | −$323.1M | |
| Working capital | $216.6M2016 | $357.8M2025 | +$141.3M | |
| Book value per share | $20.762016 | $33.172025 | +5.3%/yr | |
| Current ratio | 2.902016 | 2.142025 | −0.76 | |
| Debt / equity | 0.862016 | 0.812025 | −0.05 | |
| Shares outstanding | 28.0M2016 | 31.1M2025 | +1.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CNMD assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CNMD liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CNMD debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CNMD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $40.8M | $24.5M | $24.3M | $28.9M | $20.8M | $27.4M | $25.9M | $17.5M | $32.6M | $27.4M |
| Cash & equivalents | $40.8M | $24.5M | $24.3M | $28.9M | $20.8M | $27.4M | $25.9M | $17.5M | $32.6M | $27.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $247.8M | $237.7M | $242.3M | $191.3M | $183.9M | $177.2M | $189.1M | $181.6M | $167.0M | $148.2M |
| Inventory | $355.5M | $346.7M | $318.3M | $332.3M | $231.6M | $194.9M | $164.6M | $154.6M | $141.4M | $135.9M |
| Other current assets | $28.7M | $31.1M | $30.8M | $28.6M | $23.8M | $17.3M | $17.8M | $20.7M | $15.7M | $19.0M |
| Total current assets | $672.9M | $640.0M | $615.6M | $581.2M | $460.1M | $416.7M | $397.4M | $374.4M | $356.8M | $330.5M |
| Property, plant & equipment (net) | $113.3M | $115.8M | $120.7M | $115.6M | $108.9M | $111.4M | $118.9M | $113.2M | $116.2M | $122.0M |
| Goodwill & intangible assets | $1.39B | $1.42B | $1.46B | $1.50B | $1.09B | $1.12B | $1.15B | $813.6M | $816.9M | $817.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $150.5M | $127.4M | $107.3M | $103.5M | $108.5M | $103.6M | $108.0M | $67.9M | $68.1M | $59.2M |
| Total assets | $2.33B | $2.31B | $2.30B | $2.30B | $1.77B | $1.75B | $1.78B | $1.37B | $1.36B | $1.33B |
| Liabilities | ||||||||||
| Accounts payable | $93.6M | $102.2M | $88.2M | $73.4M | $58.2M | $53.3M | $56.0M | $53.5M | $42.0M | $41.6M |
| Short-term debt | $712,000 | $715,000 | $8.2M | $69.7M | $12.2M | $26.1M | $20.9M | $18.3M | $14.7M | $10.2M |
| Deferred revenue | — | — | −$8.2M | $9.7M | $60.5M | $50.2M | $53.7M | $42.9M | $34.3M | $32.0M |
| Total current liabilities | $315.0M | $278.1M | $310.7M | $296.6M | $196.6M | $190.2M | $188.1M | $160.9M | $150.0M | $114.0M |
| Long-term debt | $834.2M | $905.1M | $973.1M | $985.1M | $672.4M | $735.2M | $755.2M | $438.6M | $471.7M | $488.3M |
| Lease obligations | — | — | — | — | — | $22.8M | $25.2M | — | — | — |
| Other long-term liabilities | $143.4M | $160.4M | $181.9M | $270.4M | $111.5M | $117.2M | $121.3M | $107.4M | $104.8M | $146.2M |
| Total liabilities | $1.29B | $1.34B | $1.47B | $1.55B | $980.6M | $1.04B | $1.06B | $706.9M | $726.5M | $748.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 |
| Retained earnings (deficit) | $588.8M | $560.3M | $452.5M | $412.6M | $496.6M | $457.4M | $470.8M | $464.9M | $440.1M | $406.9M |
| Treasury stock | — | — | — | −$22.8M | −$54.1M | −$67.6M | −$80.7M | −$88.9M | −$93.7M | −$97.4M |
| Accumulated other comprehensive income | −$46.3M | −$58.9M | −$50.2M | −$57.9M | −$54.2M | −$63.7M | −$59.3M | −$55.7M | −$49.1M | −$58.5M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.03B | $962.7M | $834.2M | $745.5M | $785.4M | $709.0M | $710.5M | $662.3M | $631.4M | $580.6M |
| Key figures | ||||||||||
| Total debt | $834.9M | $905.8M | $991.3M | $1.05B | $684.7M | $776.4M | $793.2M | $456.9M | $486.4M | $498.5M |
| Net cash (debt) | −$794.1M | −$881.3M | −$967.0M | −$1.03B | −$663.8M | −$749.1M | −$767.3M | −$439.4M | −$453.8M | −$471.1M |
| Working capital | $357.8M | $361.9M | $304.9M | $284.7M | $263.5M | $226.5M | $209.3M | $213.4M | $206.8M | $216.6M |
| Tangible book value | −$356.0M | −$460.3M | −$622.1M | −$751.7M | −$303.1M | −$410.9M | −$440.4M | −$151.4M | −$185.5M | −$236.6M |
| Book value per share | $33.17 | $30.94 | $26.44 | $24.82 | $24.38 | $24.06 | $24.09 | $22.92 | $22.41 | $20.76 |
| Shares outstanding | 31.1M | 31.1M | 31.5M | 30.0M | 32.2M | 29.5M | 29.5M | 28.9M | 28.2M | 28.0M |
| Current ratio | 2.14 | 2.30 | 1.98 | 1.96 | 2.34 | 2.19 | 2.11 | 2.33 | 2.38 | 2.90 |
| Quick ratio | 0.92 | 0.94 | 0.86 | 0.74 | 1.04 | 1.08 | 1.14 | 1.24 | 1.33 | 1.54 |
| Debt / equity | 0.81 | 0.94 | 1.19 | 1.41 | 0.87 | 1.10 | 1.12 | 0.69 | 0.77 | 0.86 |
| Equity / assets | 44.4% | 41.7% | 36.3% | 32.4% | 44.5% | 40.5% | 40.0% | 48.4% | 46.5% | 43.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $37.3M | $35.0M | $40.8M | $38.9M | $33.9M | $35.5M | $24.5M | $38.5M | $28.9M | $33.9M | $24.3M | $30.5M |
| Cash & equivalents | $37.3M | $35.0M | $40.8M | $38.9M | $33.9M | $35.5M | $24.5M | $38.5M | $28.9M | $33.9M | $24.3M | $30.5M |
| Receivables | $239.8M | $228.7M | $247.8M | $224.9M | $234.1M | $221.1M | $237.7M | $231.2M | $239.2M | $241.5M | $242.3M | $230.2M |
| Inventory | $360.2M | $366.1M | $355.5M | $364.4M | $362.3M | $354.7M | $346.7M | $342.6M | $322.4M | $322.3M | $318.3M | $325.8M |
| Other current assets | $38.4M | $40.8M | $28.7M | $33.9M | $27.4M | $27.7M | $31.1M | $28.8M | $33.4M | $38.1M | $30.8M | $39.1M |
| Total current assets | $675.7M | $670.6M | $672.9M | $662.2M | $657.8M | $639.0M | $640.0M | $641.0M | $623.8M | $635.7M | $615.6M | $625.6M |
| Property, plant & equipment (net) | $110.1M | $112.0M | $113.3M | $112.0M | $116.9M | $116.1M | $115.8M | $117.4M | $117.1M | $118.0M | $120.7M | $120.4M |
| Goodwill & intangible assets | $1.36B | $1.38B | $1.39B | $1.40B | $1.41B | $1.42B | $1.42B | $1.43B | $1.44B | $1.45B | $1.46B | $1.47B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $153.2M | $151.7M | $150.5M | $148.3M | $145.1M | $127.1M | $127.4M | $124.9M | $105.2M | $108.0M | $107.3M | $107.1M |
| Total assets | $2.30B | $2.31B | $2.33B | $2.32B | $2.33B | $2.30B | $2.31B | $2.32B | $2.29B | $2.31B | $2.30B | $2.33B |
| Liabilities | ||||||||||||
| Accounts payable | $101.0M | $105.4M | $93.6M | $107.1M | $101.1M | $95.7M | $102.2M | $104.6M | $101.3M | $101.6M | $88.2M | $81.9M |
| Short-term debt | $177.2M | $711,000 | $712,000 | $746,000 | $714,000 | $714,000 | $715,000 | $717,000 | $716,000 | $692,000 | $708,000 | $70.6M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$1 | — | $6.2M | $60.3M |
| Total current liabilities | $455.4M | $292.7M | $315.0M | $314.7M | $294.8M | $283.1M | $278.1M | $282.3M | $266.4M | $291.4M | $310.7M | $376.3M |
| Long-term debt | $657.0M | $860.2M | $834.2M | $853.0M | $881.1M | $891.4M | $905.1M | $940.1M | $965.2M | $990.1M | $973.1M | $942.2M |
| Other long-term liabilities | $146.5M | $144.4M | $143.4M | $146.5M | $149.6M | $145.5M | $160.4M | $160.4M | $172.2M | $173.1M | $181.9M | $211.0M |
| Total liabilities | $1.26B | $1.30B | $1.29B | $1.31B | $1.33B | $1.32B | $1.34B | $1.38B | $1.40B | $1.45B | $1.47B | $1.53B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 | $313,000 |
| Retained earnings (deficit) | $625.7M | $602.6M | $588.8M | $572.0M | $575.4M | $560.1M | $560.3M | $532.7M | $489.9M | $466.1M | $452.5M | $425.6M |
| Accumulated other comprehensive income | −$43.4M | −$44.7M | −$46.3M | −$49.2M | −$53.0M | −$57.4M | −$58.9M | −$54.7M | −$54.4M | −$49.8M | −$50.2M | −$54.0M |
| Total shareholders' equity | $1.04B | $1.02B | $1.03B | $1.01B | $1.00B | $977.6M | $962.7M | $932.9M | $881.8M | $854.7M | $834.2M | $796.2M |
| Key figures | ||||||||||||
| Total debt | $834.2M | $860.9M | $834.9M | $853.8M | $881.8M | $892.2M | $905.8M | $940.8M | $965.9M | $990.8M | $973.8M | $1.01B |
| Net cash (debt) | −$796.9M | −$825.8M | −$794.1M | −$814.8M | −$847.9M | −$856.7M | −$881.3M | −$902.3M | −$937.0M | −$956.9M | −$949.6M | −$982.3M |
| Working capital | $220.3M | $377.9M | $357.8M | $347.5M | $362.9M | $355.9M | $361.9M | $358.7M | $357.4M | $344.3M | $304.9M | $249.3M |
| Tangible book value | −$319.9M | −$363.0M | −$356.0M | −$391.8M | −$405.9M | −$437.9M | −$460.3M | −$499.5M | −$557.6M | −$592.9M | −$622.1M | −$676.3M |
| Book value per share | $34.58 | $33.23 | $33.29 | $32.47 | $32.29 | $31.38 | $30.94 | $29.99 | $28.35 | $27.33 | $26.48 | $25.13 |
| Shares outstanding | 30.1M | 30.6M | 31.0M | 31.1M | 31.1M | 31.2M | 31.1M | 31.1M | 31.1M | 31.3M | 31.5M | 31.7M |
| Current ratio | 1.48 | 2.29 | 2.14 | 2.10 | 2.23 | 2.26 | 2.30 | 2.27 | 2.34 | 2.18 | 1.98 | 1.66 |
| Quick ratio | 0.61 | 0.90 | 0.92 | 0.84 | 0.91 | 0.91 | 0.94 | 0.96 | 1.01 | 0.94 | 0.86 | 0.69 |
| Debt / equity | 0.80 | 0.85 | 0.81 | 0.85 | 0.88 | 0.91 | 0.94 | 1.01 | 1.10 | 1.16 | 1.17 | 1.27 |
| Equity / assets | 45.3% | 44.0% | 44.4% | 43.4% | 43.1% | 42.5% | 41.7% | 40.3% | 38.6% | 37.0% | 36.3% | 34.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.
CNMD financial position
At the end of fiscal 2025 (December 31, 2025), CONMED had total assets of $2.3 billion (up 0.8% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $1.0 billion. It held $40.8 million in cash and short-term investments against $834.9 million of debt, net debt of $794.1 million. Its current ratio was 2.14. In the latest quarter (ended June 30, 2026) total assets were $2.3 billion and equity $1.0 billion.
Related: CNMD income statement, CNMD cash flow statement, CNMD key metrics. See the CNMD stock overview for the latest quote and news.
CNMD balance sheet FAQ
What are CONMED's total assets?
CONMED reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.3 billion a year earlier.
How much debt does CONMED have?
CONMED had $834.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.81.
How much cash does CONMED have?
CONMED held $40.8 million in cash and short-term investments at the end of fiscal 2025; with $834.9 million of debt that is net debt of $794.1 million.
What is CONMED's book value?
CONMED's shareholders' equity (book value) was $1.0 billion at the end of fiscal 2025, or $33.17 per share.
What is CONMED's current ratio?
CONMED had current assets of $672.9 million and current liabilities of $315.0 million, a current ratio of 2.14 (it can cover its short-term obligations).
How much goodwill does CONMED have?
CONMED carried $1.4 billion of goodwill and intangible assets, 59.7% of total assets, at the end of fiscal 2025.