CONMED (CNMD) financial statements
CONMED reported revenue of $1.4B in fiscal 2025, up 6.8% a year over 9 years.
Net income was $47M and the operating margin 7.5%, against 4.9% in 2016.
Free cash flow was $151M, and the company returned $25M in dividends.
The diluted share count rose 11% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CONMED's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $764M | $796M | $860M | $955M | $862M | $1.0B | $1.0B | $1.2B | $1.3B | $1.4B |
| Cost of revenue | $355M | $365M | $391M | $430M | $402M | $443M | $474M | $568M | $574M | $624M |
| Gross profit | $408M | $431M | $469M | $525M | $460M | $568M | $571M | $676M | $733M | $750M |
| Research and development | $32M | $32M | $42M | $45M | $40M | $44M | $47M | $53M | $54M | $56M |
| Selling, general and admin | $338M | $352M | $356M | $400M | $374M | $415M | $454M | $503M | $478M | $592M |
| Operating income | $38M | $47M | $71M | $79M | $46M | $110M | $70M | $121M | $200M | $103M |
| Interest expense | $15M | $18M | $21M | $43M | $44M | $35M | $29M | $40M | $37M | $31M |
| Pre-tax income | $19M | $29M | $51M | $31M | $2M | $73M | -$71M | $81M | $163M | $71M |
| Income tax | $5M | -$27M | $10M | $3M | -$8M | $11M | $10M | $16M | $31M | $24M |
| Net income | $15M | $55M | $41M | $29M | $10M | $63M | -$81M | $64M | $132M | $47M |
| EPS (diluted) | $0.52 | $1.97 | $1.41 | $0.97 | $0.32 | $1.94 | -$2.68 | $2.04 | $4.25 | $1.51 |
| Diluted shares | 28M | 28M | 29M | 29M | 29M | 32M | 30M | 32M | 31M | 31M |
| Gross margin | 53.5% | 54.1% | 54.6% | 54.9% | 53.4% | 56.2% | 54.6% | 54.3% | 56.1% | 54.6% |
| Operating margin | 4.9% | 5.9% | 8.3% | 8.3% | 5.3% | 10.9% | 6.7% | 9.7% | 15.3% | 7.5% |
| Net margin | 1.9% | 7.0% | 4.8% | 3.0% | 1.1% | 6.2% | -7.7% | 5.2% | 10.1% | 3.4% |
Balance sheet
Fiscal years, from CONMED's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $27M | $33M | $18M | $26M | $27M | $21M | $29M | $24M | $24M | $41M |
| Receivables | $148M | $167M | $182M | $189M | $177M | $184M | $191M | $242M | $238M | $248M |
| Inventory | $136M | $141M | $155M | $165M | $195M | $232M | $332M | $318M | $347M | $356M |
| Total current assets | $331M | $357M | $374M | $397M | $417M | $460M | $581M | $616M | $640M | $673M |
| Property, plant and equipment | $122M | $116M | $113M | $119M | $111M | $109M | $116M | $121M | $116M | $113M |
| Goodwill | $398M | $402M | $400M | $618M | $618M | $618M | $815M | $807M | $805M | $807M |
| Total assets | $1.3B | $1.4B | $1.4B | $1.8B | $1.8B | $1.8B | $2.3B | $2.3B | $2.3B | $2.3B |
| Total current liabilities | $114M | $150M | $161M | $188M | $190M | $197M | $297M | $311M | $278M | $315M |
| Long-term debt | $488M | $472M | $439M | $755M | $735M | $672M | $985M | $973M | $905M | $834M |
| Total liabilities | $748M | $727M | $707M | $1.1B | $1.0B | $981M | $1.6B | $1.5B | $1.3B | $1.3B |
| Shareholders' equity | $581M | $631M | $662M | $710M | $709M | $785M | $746M | $834M | $963M | $1.0B |
| Net debt | $471M | $454M | $439M | $729M | $708M | $652M | $956M | $949M | $881M | $793M |
Cash flow
Fiscal years, from CONMED's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40M | $66M | $75M | $95M | $65M | $112M | $33M | $125M | $167M | $171M |
| Capital spending | $15M | $13M | $17M | $20M | $13M | $15M | $22M | $19M | $13M | $20M |
| Free cash flow | $25M | $53M | $58M | $75M | $52M | $97M | $12M | $106M | $154M | $151M |
| Stock-based compensation | $8M | $8M | $10M | $12M | $13M | $16M | $22M | $24M | $26M | $28M |
| Dividends paid | $22M | $22M | $22M | $23M | $23M | $23M | $24M | $25M | $25M | $25M |
| Share buybacks (net) | $0 | — | — | — | — | — | — | — | — | — |
| Net borrowing | $166M | -$9M | -$13M | $111M | — | — | — | — | — | — |
| Free cash flow margin | 3.3% | 6.6% | 6.8% | 7.9% | 6.0% | 9.6% | 1.1% | 8.5% | 11.8% | 11.0% |
| Dividends per share | $0.79 | $0.79 | $0.78 | $0.77 | $0.77 | $0.72 | $0.80 | $0.78 | $0.79 | $0.79 |
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Open CNMD in InvestinglyQuestions
What was CONMED's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does CONMED generate?
$151M in fiscal 2025 (operating cash flow minus capital spending).
From CONMED's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.