CONMED Corporation Common Stock (CNMD)

FairStock Score: 38/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach CONMED as a medical-device maker selling surgical tools, not a glamorous franchise. Its returns tell the story: FairStock calculations at the 2026-10-13 close show ROE of 5.53% and ROCE of 4.14%, hardly the high-return economics I want in a moat. The balance sheet carries D/E of 0.80, and an Altman Z-Score of 1.35 signals financial fragility. Still, the business generates cash: trailing free cash flow of $134.5M against a $1.4B market cap is a 9.9% FCF yield, and a Piotroski F-Score of 7/9 suggests improving fundamentals. Filed figures show fiscal Q2 2026, the quarter ended 2026-06-30, revenue of $343.5M and net income of $23.1M, compared with fiscal Q2 2025 revenue of $342.3M and net income of $21.4M. But the full year matters: FY2025 net income was $47.1M versus $132.4M in FY2024, so reported profits have been uneven. At the 2026-10-13 close of $45.55, FairStock's P/E is 24.62 and P/B is 1.31. The Graham Number is $37.92, giving a negative margin of safety of -20.12%, so the price is above what Graham-style math would call cheap. FairStock's 38/100 score and TURNAROUND category, because it returned to profit after a loss within three years, fit a company that is recovering but not yet proven. I would want returns on capital to rise, debt to fall, and cash flow to persist before calling this a bargain.

In plain English: CONMED makes surgical devices and equipment used in orthopedic and other procedures. The latest quarter was profitable and the company produces strong cash flow, but full-year profits have been uneven, returns on invested money are low, and it carries meaningful debt. At the recent price, the shares look somewhat expensive compared with the company's earnings and accounting value, so this is not an obvious bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer