CNMD CONMED Corp

Overview and Growth

In fiscal 2025, CONMED Corp recorded $1.37B of revenue, net income of $47.05M, and an operating cash inflow of $170.69M. Revenue of $1.37B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 5.2% above fiscal 2024 revenue of $1.31B, marking a year-over-year increase. On a per-share basis, diluted EPS was $1.51, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 64.5% decrease from fiscal 2024 diluted EPS of $4.25. The revenue-to-assets relationship was 0.59x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $750.48M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 54.6% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $102.62M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 7.5%, showing how efficiently sales converted into operating profit. Net income came to $47.05M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 3.4% margin after operating costs and the remaining recognized items. The earnings statement records $71.12M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 5.2% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $24.06M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 33.8%, quantifying the portion of pre-tax earnings paid in income tax. Net income equaled 4.6% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 2.0% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

Total assets were $2.33B, supported by $1.29B of liabilities and $1.03B of shareholder equity. At period end, current assets of $672.86M compared with current liabilities of $315.04M, defining the company’s short-term resource position. Current assets covered current liabilities by 2.14x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $40.82M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 13.0%, excluding receivables and other current assets. Liabilities represented 55.6% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 1.8% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $2.31B in fiscal 2024, the current asset base moved 0.8% and finished higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $170.69M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 3.63x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $19.81M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 11.6% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $150.88M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 11.0%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 6.5% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.