CONMED Corporation (CNMD) Key Metrics
CNMD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.40B
- Enterprise value
- $2.17B
- P/E (TTM)
- 25.3 10-yr median 53.6
- Forward P/E
- 27.2
- PEG ratio
- 1.84
- Price / sales
- 1.0 10-yr median 2.4
- Price / book
- 1.3 10-yr median 3.2
- EV / EBITDA
- 11.6 10-yr median 22.3
- Dividend yield
- —
- Beta
- 0.94
CNMD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCNMD valuation Price multiples at each fiscal year-end price.
CNMD returns How much profit the business earns on the capital it uses.
CNMD per-share figures Results divided by the shares outstanding at year-end.
CNMD financial health Debt, liquidity and how easily interest is covered.
CNMD efficiency & capital use Working capital cycle and where the cash goes.
CNMD valuation history
CNMD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CNMD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CNMD cash returned to shareholders
CNMD price vs earnings per share
CNMD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.26B | $2.13B | $3.45B | $2.66B | $4.57B | $3.30B | $3.30B | $1.85B | $1.44B | $1.24B |
| Enterprise value | $2.06B | $3.01B | $4.42B | $3.69B | $5.23B | $4.05B | $4.07B | $2.29B | $1.89B | $1.71B |
| P/E ratio | 26.9 | 16.1 | 53.6 | — | 73.0 | 346.7 | 115.2 | 45.4 | 25.9 | 84.2 |
| Price / sales | 0.9 | 1.6 | 2.8 | 2.5 | 4.5 | 3.8 | 3.5 | 2.2 | 1.8 | 1.6 |
| Price / book | 1.2 | 2.2 | 4.1 | 3.6 | 5.8 | 4.7 | 4.6 | 2.8 | 2.3 | 2.1 |
| Price / free cash flow | 8.4 | 13.8 | 32.5 | 229.9 | 47.1 | 64.1 | 43.9 | 31.9 | 27.2 | 52.6 |
| Price / operating cash flow | 7.4 | 12.8 | 27.6 | 79.8 | 40.9 | 51.1 | 34.7 | 24.8 | 21.9 | 32.3 |
| EV / sales | 1.5 | 2.3 | 3.6 | 3.5 | 5.2 | 4.7 | 4.3 | 2.7 | 2.4 | 2.2 |
| EV / EBITDA | 11.7 | 12.0 | 25.7 | 133.8 | 29.2 | 34.2 | 27.8 | 17.2 | 17.9 | 18.9 |
| EV / free cash flow | 13.6 | 19.6 | 41.6 | 318.5 | 54.0 | 78.6 | 54.2 | 39.4 | 35.8 | 72.7 |
| Earnings yield | 3.7% | 6.2% | 1.9% | −3.0% | 1.4% | 0.3% | 0.9% | 2.2% | 3.9% | 1.2% |
| Free cash flow yield | 11.9% | 7.2% | 3.1% | 0.4% | 2.1% | 1.6% | 2.3% | 3.1% | 3.7% | 1.9% |
| Dividend yield | 2.0% | 1.2% | 0.7% | 0.9% | 0.5% | 0.7% | 0.7% | 1.2% | 1.6% | 1.8% |
| Shareholder yield (dividends + buybacks) | 2.0% | 1.2% | 0.7% | 0.9% | 0.5% | 0.7% | 0.7% | 1.2% | 1.6% | 1.8% |
| Share price at fiscal year-end | $40.60 | $68.44 | $109.51 | $88.64 | $141.76 | $112.00 | $111.83 | $64.20 | $50.97 | $44.17 |
| Per share | ||||||||||
| Revenue per share | $44.13 | $42.01 | $39.46 | $34.80 | $31.37 | $29.27 | $32.38 | $29.76 | $28.27 | $27.30 |
| Earnings per share | $1.51 | $4.26 | $2.04 | −$2.68 | $1.94 | $0.32 | $0.97 | $1.41 | $1.97 | $0.52 |
| Operating cash flow per share | $5.48 | $5.37 | $3.97 | $1.11 | $3.47 | $2.19 | $3.23 | $2.59 | $2.33 | $1.37 |
| Free cash flow per share | $4.84 | $4.95 | $3.37 | $0.39 | $3.01 | $1.75 | $2.55 | $2.01 | $1.87 | $0.84 |
| Cash per share | $1.31 | $0.79 | $0.77 | $0.96 | $0.65 | $0.93 | $0.88 | $0.61 | $1.16 | $0.98 |
| Book value per share | $33.17 | $30.94 | $26.44 | $24.82 | $24.38 | $24.06 | $24.09 | $22.92 | $22.41 | $20.76 |
| Tangible book value per share | −$11.43 | −$14.80 | −$19.72 | −$25.02 | −$9.41 | −$13.95 | −$14.93 | −$5.24 | −$6.58 | −$8.46 |
| Dividends per share | $0.79 | $0.79 | $0.78 | $0.80 | $0.72 | $0.77 | $0.77 | $0.78 | $0.79 | $0.79 |
| Capex per share | $0.64 | $0.42 | $0.60 | $0.73 | $0.46 | $0.44 | $0.68 | $0.57 | $0.46 | $0.53 |
| Debt per share | $26.80 | $29.11 | $31.42 | $35.11 | $21.25 | $26.35 | $26.89 | $15.82 | $17.27 | $17.83 |
| Shares outstanding | 31.1M | 31.1M | 31.5M | 30.0M | 32.2M | 29.5M | 29.5M | 28.9M | 28.2M | 28.0M |
| Change in shares outstanding | +0.1% | −1.4% | +5.0% | −6.8% | +9.3% | −0.1% | +2.1% | +2.6% | +0.7% | +0.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.7% | 14.7% | 8.2% | −10.5% | 8.4% | 1.3% | 4.2% | 6.3% | 9.2% | 2.5% |
| Return on invested capital (ROIC) | 5.1% | 8.9% | 5.4% | 3.4% | 6.5% | 3.1% | 5.6% | 5.3% | 4.4% | 3.1% |
| Return on assets (ROA) | 2.0% | 5.7% | 2.8% | −4.0% | 3.6% | 0.5% | 1.8% | 3.0% | 4.1% | 1.2% |
| Return on tangible assets | 5.0% | 15.0% | 7.6% | −10.1% | 9.2% | 1.5% | 4.6% | 7.4% | 10.3% | 2.9% |
| Free cash flow margin | 11.0% | 11.8% | 8.5% | 1.1% | 9.6% | 6.0% | 7.9% | 6.8% | 6.6% | 3.1% |
| Income quality (OCF / net income) | 3.63 | 1.26 | 1.94 | — | 1.79 | 6.78 | 3.32 | 1.83 | 1.18 | 2.61 |
| Financial health | ||||||||||
| Total debt | $834.9M | $905.8M | $991.3M | $1.05B | $684.7M | $776.4M | $793.2M | $456.9M | $486.4M | $498.5M |
| Cash & short-term investments | $40.8M | $24.5M | $24.3M | $28.9M | $20.8M | $27.4M | $25.9M | $17.5M | $32.6M | $27.4M |
| Net debt | $794.1M | $881.3M | $967.0M | $1.03B | $663.8M | $749.1M | $767.3M | $439.4M | $453.8M | $471.1M |
| Debt / equity | 0.81 | 0.94 | 1.19 | 1.41 | 0.87 | 1.10 | 1.12 | 0.69 | 0.77 | 0.86 |
| Debt / assets | 0.36 | 0.39 | 0.43 | 0.46 | 0.39 | 0.44 | 0.45 | 0.33 | 0.36 | 0.38 |
| Net debt / EBITDA | 4.50 | 3.50 | 5.62 | 37.22 | 3.70 | 6.33 | 5.25 | 3.30 | 4.30 | 5.23 |
| Current ratio | 2.14 | 2.30 | 1.98 | 1.96 | 2.34 | 2.19 | 2.11 | 2.33 | 2.38 | 2.90 |
| Quick ratio | 1.01 | 1.05 | 0.96 | 0.84 | 1.16 | 1.17 | 1.24 | 1.37 | 1.44 | 1.71 |
| Interest coverage | 4.5 | 5.4 | 3.0 | 2.4 | 3.1 | 1.0 | 1.9 | 3.5 | 2.6 | 2.5 |
| Working capital | $357.8M | $361.9M | $304.9M | $284.7M | $263.5M | $226.5M | $209.3M | $213.4M | $206.8M | $216.6M |
| Invested capital | $1.83B | $1.84B | $1.80B | $1.77B | $1.45B | $1.46B | $1.48B | $1.10B | $1.09B | $1.05B |
| Tangible asset value | −$356.0M | −$460.3M | −$622.1M | −$751.7M | −$303.1M | −$410.9M | −$440.4M | −$151.4M | −$185.5M | −$236.6M |
| Net current asset value | −$619.8M | −$703.6M | −$850.1M | −$970.8M | −$520.5M | −$626.0M | −$667.3M | −$332.5M | −$369.7M | −$417.9M |
| Graham number | $33.58 | $54.44 | $34.87 | — | $32.63 | $13.22 | $22.93 | $27.01 | $31.52 | $15.65 |
| Graham net-net per share | −$28.51 | −$31.10 | −$34.89 | −$40.39 | −$21.91 | −$26.64 | −$27.62 | −$16.47 | −$17.67 | −$19.38 |
| Capital allocation | ||||||||||
| Dividends paid | $24.7M | $24.7M | $24.5M | $24.0M | $23.3M | $22.8M | $22.6M | $22.4M | $22.3M | $22.2M |
| Share buybacks (net) | — | — | — | $0 | — | — | $0 | — | $0 | $0 |
| Dividend payout ratio | 52.6% | 18.6% | 38.0% | — | 37.2% | 239.8% | 79.0% | 54.9% | 40.2% | 151.5% |
| Dividends + buybacks / free cash flow | 16.4% | 16.0% | 23.0% | 206.9% | 24.0% | 44.3% | 30.1% | 38.6% | 42.3% | 94.6% |
| Capex / revenue | 1.4% | 1.0% | 1.5% | 2.1% | 1.5% | 1.5% | 2.1% | 1.9% | 1.6% | 1.9% |
| Capex / operating cash flow | 11.6% | 7.8% | 15.2% | 65.3% | 13.3% | 20.2% | 21.1% | 22.1% | 19.6% | 38.6% |
| Capex / depreciation | 0.27 | 0.26 | 0.37 | 0.31 | 0.21 | 0.18 | 0.28 | 0.27 | 0.22 | 0.27 |
| Stock-based compensation / revenue | 2.1% | 2.0% | 1.9% | 2.1% | 1.6% | 1.5% | 1.2% | 1.2% | 1.1% | 1.1% |
| R&D / revenue | 4.1% | 4.2% | 4.2% | 4.5% | 4.3% | 4.7% | 4.8% | 4.9% | 4.1% | 4.2% |
| SG&A / revenue | 43.1% | 34.7% | 40.6% | 43.4% | 41.0% | 43.3% | 41.9% | 41.4% | 44.2% | 44.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 64.5 | 67.0 | 63.6 | 65.5 | 65.2 | 77.5 | 70.8 | 74.0 | 72.2 | 67.4 |
| Days of inventory on hand | 197.4 | 211.5 | 208.9 | 217.0 | 175.9 | 163.1 | 135.4 | 138.3 | 138.5 | 155.6 |
| Days payables outstanding | 55.1 | 60.6 | 51.9 | 50.6 | 46.0 | 49.6 | 46.4 | 44.6 | 41.8 | 39.2 |
| Cash conversion cycle (days) | 206.8 | 217.9 | 220.6 | 231.9 | 195.1 | 191.0 | 159.8 | 167.7 | 169.0 | 183.8 |
| Receivables turnover | 5.66 | 5.45 | 5.74 | 5.57 | 5.60 | 4.71 | 5.15 | 4.93 | 5.05 | 5.41 |
| Payables turnover | 6.63 | 6.03 | 7.04 | 7.21 | 7.94 | 7.36 | 7.86 | 8.17 | 8.73 | 9.30 |
| Inventory turnover | 1.85 | 1.73 | 1.75 | 1.68 | 2.08 | 2.24 | 2.70 | 2.64 | 2.64 | 2.35 |
| Asset turnover | 0.59 | 0.57 | 0.54 | 0.51 | 0.57 | 0.49 | 0.61 | 0.63 | 0.59 | 0.63 |
| Average receivables | $242.8M | $240.0M | $216.8M | $187.6M | $180.5M | $183.1M | $185.3M | $174.3M | $157.6M | $141.1M |
| Average payables | $97.9M | $95.2M | $80.8M | $65.8M | $55.8M | $54.6M | $54.7M | $47.8M | $41.8M | $38.2M |
| Average inventory | $351.1M | $332.5M | $325.3M | $282.0M | $213.3M | $179.7M | $159.6M | $148.0M | $138.7M | $151.4M |
| Intangibles / total assets | 59.7% | 61.7% | 63.3% | 65.2% | 61.6% | 63.9% | 64.8% | 59.4% | 60.2% | 61.5% |
Computed from CNMD's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CNMD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CONMED traded at 26.9 times earnings, against a 10-year median of 53.6. Based on the latest twelve months, the trailing P/E is 25.3 and the forward P/E is 27.2. CONMED earned a return on equity of 4.7% and a return on invested capital of 5.1% in fiscal 2025. It ended the year with $834.9 million of debt and $40.8 million in cash and short-term investments, net debt of $794.1 million. It returned $24.7 million to shareholders: $24.7 million in dividends and $0 in share buybacks, 16% of free cash flow. The share count rose 11.4% from 28.0M to 31.1M over 9 years.
See the CNMD income statement, the CNMD chart for price history, or the CNMD stock overview for the latest quote and news.
CNMD key metrics FAQ
What is CONMED's P/E ratio?
CONMED's trailing P/E ratio is 25.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 27.2. At the end of fiscal 2025 it was 26.9, compared with a 10-year median of 53.6.
What is CONMED's EV/EBITDA?
CONMED's enterprise value was 11.7 times EBITDA at the end of fiscal 2025 (enterprise value $2.1 billion, EBITDA $176.5 million); the current EV/EBITDA is 11.6.
What is CONMED's return on equity?
CONMED's return on equity (ROE) was 4.7% in fiscal 2025: net income of $47.1 million on average shareholders' equity of $997.9 million.
What is CONMED's ROIC?
CONMED's return on invested capital was 5.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CONMED have?
CONMED had total debt of $834.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.81 and $794.1 million of net debt (4.50 times EBITDA).
What is CONMED's dividend yield?
CONMED paid $24.7 million in dividends in fiscal 2025 ($0.79 per share), a payout ratio of 52.6%.
What is CONMED's free cash flow yield?
CONMED generated $150.9 million of free cash flow in fiscal 2025, a free cash flow yield of 11.9% on its market value at year-end ($1.3 billion).
What is CONMED's current ratio?
CONMED's current ratio was 2.14 at the end of fiscal 2025: current assets were 2.14 times current liabilities.