Stock CNMD CONMED CORPORATION
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Financials CONMED Corporation

Equities

CNMD

US2074101013

Medical Equipment, Supplies & Distribution

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
65.78 USD +6.27% Intraday chart for CONMED Corporation -9.44% -39.93%
Apr. 25 Wells Fargo Adjusts Price Target on CONMED to $77 From $98, Maintains Equalweight Rating MT
Apr. 25 Needham Lowers Price Target on CONMED to $107 From $129, Notes Slight Guidance Cut Due to Currency, Keeps Buy Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,174 3,203 4,146 2,702 3,368 2,026 - -
Enterprise Value (EV) 1 3,917 3,930 4,810 3,728 4,317 2,867 2,798 2,697
P/E ratio 115 x 350 x 73.1 x -33.1 x 53.7 x 18.6 x 14.1 x 11.5 x
Yield 0.72% 0.71% 0.56% 0.9% 0.73% 1.22% 1.22% 1.22%
Capitalization / Revenue 3.32 x 3.71 x 4.1 x 2.58 x 2.71 x 1.51 x 1.4 x 1.3 x
EV / Revenue 4.1 x 4.56 x 4.76 x 3.57 x 3.47 x 2.14 x 1.93 x 1.73 x
EV / EBITDA 21.9 x 25.2 x 24.4 x 19.8 x 18.3 x 10.5 x 8.86 x 7.63 x
EV / FCF 52.2 x 76.3 x 49.6 x 322 x 40.6 x 19.4 x 13.5 x 12.1 x
FCF Yield 1.92% 1.31% 2.01% 0.31% 2.46% 5.16% 7.41% 8.27%
Price to Book 4.64 x 4.65 x 5.26 x 3.57 x 4.04 x 2.02 x 1.86 x 1.68 x
Nbr of stocks (in thousands) 28,379 28,602 29,247 30,482 30,752 30,801 - -
Reference price 2 111.8 112.0 141.8 88.64 109.5 65.78 65.78 65.78
Announcement Date 1/29/20 1/27/21 1/26/22 2/2/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 955.1 862.5 1,011 1,045 1,245 1,341 1,451 1,558
EBITDA 1 179.2 156.1 197.2 188.7 235.4 272.4 315.6 353.4
EBIT 1 128.4 104.7 143.3 131.3 174.4 211.4 261 297.8
Operating Margin 13.45% 12.14% 14.18% 12.55% 14.01% 15.77% 17.99% 19.12%
Earnings before Tax (EBT) 1 - - - - - 140.4 188.8 231.6
Net income 1 28.62 9.517 62.54 -80.58 64.46 109.5 146.5 180.9
Net margin 3% 1.1% 6.19% -7.71% 5.18% 8.17% 10.1% 11.61%
EPS 2 0.9700 0.3200 1.940 -2.680 2.040 3.540 4.675 5.715
Free Cash Flow 1 75.07 51.52 96.9 11.58 106.3 147.8 207.4 223
FCF margin 7.86% 5.97% 9.59% 1.11% 8.54% 11.02% 14.29% 14.31%
FCF Conversion (EBITDA) 41.89% 33% 49.14% 6.14% 45.15% 54.25% 65.71% 63.09%
FCF Conversion (Net income) 262.29% 541.33% 154.94% - 164.94% 134.93% 141.56% 123.25%
Dividend per Share 2 0.8000 0.8000 0.8000 0.8000 0.8000 0.7998 0.7998 0.8000
Announcement Date 1/29/20 1/27/21 1/26/22 2/2/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 274 242.3 277.2 275.1 250.9 295.5 317.7 304.6 327 312.3 334.3 334.1 360.1 340.7 365.7
EBITDA 1 59.02 43.74 51.26 53.43 40.28 51.21 57.64 59.7 66.9 56.3 60.5 71.41 83.89 67.92 -
EBIT 1 45.53 30.51 36.49 38.74 25.51 36.32 41.92 44.38 51.77 40.68 46.5 56.86 67.35 54.74 64.86
Operating Margin 16.62% 12.59% 13.16% 14.08% 10.17% 12.29% 13.2% 14.57% 15.83% 13.03% 13.91% 17.02% 18.7% 16.07% 17.74%
Earnings before Tax (EBT) 1 - - - - - 2.444 17.42 - - 25.42 28 38.3 51.7 - -
Net income 1 24.44 14.98 -168.3 46.15 26.58 1.819 13.73 15.84 33.07 19.71 23.07 30.08 38.39 33.85 40.06
Net margin 8.92% 6.18% -60.71% 16.78% 10.6% 0.62% 4.32% 5.2% 10.11% 6.31% 6.9% 9% 10.66% 9.93% 10.95%
EPS 2 0.7500 0.4700 -5.650 1.480 0.8600 0.0600 0.4300 0.5000 1.050 0.6300 0.7700 0.9750 1.210 1.070 1.260
Dividend per Share 2 0.2000 0.2000 0.2000 0.2000 0.2000 0.2000 0.2000 0.2000 0.2000 - 0.2000 0.2000 0.2000 - -
Announcement Date 1/26/22 5/4/22 7/27/22 10/26/22 2/2/23 4/26/23 7/26/23 10/25/23 1/31/24 4/24/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 743 726 664 1,026 950 841 772 671
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.146 x 4.652 x 3.366 x 5.436 x 4.033 x 3.086 x 2.445 x 1.898 x
Free Cash Flow 1 75.1 51.5 96.9 11.6 106 148 207 223
ROE (net income / shareholders' equity) 11.4% 9.04% 13.3% 10.7% 13.7% 14.4% 15.7% 16.8%
ROA (Net income/ Total Assets) 4.96% 3.64% 5.65% 4.04% 4.71% 5.52% 6.56% 7.34%
Assets 1 577.5 261.5 1,107 -1,996 1,368 1,986 2,232 2,465
Book Value Per Share 2 24.10 24.10 26.90 24.80 27.10 32.50 35.30 39.10
Cash Flow per Share 2 - - - 1.110 3.970 4.850 7.150 -
Capex 1 20.1 13 14.9 21.8 19 21 22 23
Capex / Sales 2.1% 1.51% 1.47% 2.08% 1.53% 1.57% 1.52% 1.48%
Announcement Date 1/29/20 1/27/21 1/26/22 2/2/23 1/31/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for CONMED Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
65.78 USD
Average target price
92.38 USD
Spread / Average Target
+40.43%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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