# CONMED Corporation (CNMD) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Healthcare / Medical Devices & Supplies. Price $47.23, market value $1.4 billion.

## Valuation
- **P/E (trailing): 19.6×** (5-yr avg 41.5×, 3-yr avg 31.8×). CONMED Corporation trades at 19.6× trailing earnings, well below its own five-year average of 41.5×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 9.9×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.0×**. Each dollar of revenue is priced at 1.0×.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 12.9×**. Enterprise value is 12.9× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 10.7%** (5-yr avg 5.0%). Free cash flow equals 10.7% of the market value, above its five-year average of 5.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 5.1%**. The inverse of the P/E: 5.1% of the price is earned each year.

## Profitability
- **Gross margin: 55.5%**. CONMED Corporation keeps 55.5% of revenue after the direct cost of what it sells.
- **Operating margin: 8.8%**. 8.8% of revenue is left after running the business.
- **Net margin: 3.4%**. 3.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.6%**. 4.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.2%**. Return on all capital, debt included, is 5.2%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.7%**. Each dollar of assets produces 2.7% of profit.

## Growth
- **Revenue growth (1 yr): 5.2%** (3-yr 9.6%/yr, 5-yr 9.8%/yr). Revenue grew 5.2% over the last year, against 9.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -64.5%** (5-yr 36.4%/yr). Earnings per share fell 64.5%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 135.3%/yr**. Free cash flow has compounded at 135.3% a year over three years.

## Financial health
- **Debt to equity: 0.81**. Debt is 0.81 times equity, moderate leverage.
- **Current ratio: 2.14** (quick 2.14). Current assets cover the next year's liabilities 2.14 times.
- **Altman Z-score: 2.20**. A Z-score of 2.20 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.69%** ($0.80 per share, trailing). CONMED Corporation yields 1.69%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 53%** (16% of free cash flow). 53% of earnings goes out as dividends, leaving room to keep raising it.
- **Dividend growth (5 yr): -5.6%/yr** (1-yr -25.0%). The dividend has not grown over five years.

## Analyst view
- **Analyst consensus: hold** (6 analysts). 6 analysts cover CONMED Corporation; the consensus is hold, with an average price target of $46.83 (-1% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 5.9%** (YTD 14.8%, 3-mo -10.2%). The shares are up 5.9% over twelve months including dividends.
- **From 52-week high: -12.0%** (50.2% above the low). Trading 12% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 0.83** (volatility 45%). Beta of 0.83 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CNMD · Page: https://foliofundamentals.com/stocks/cnmd

Not investment advice.