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Forensic Analysis · Industrial & Scientific Instruments · as of Nov 9, 2026

Conmed Corp (CNMD)

A forensic read on Conmed Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
3.0
Distress distance
Clean
Earnings quality
1
Forensic signals
4.7%
ROE
5.2%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Conmed Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.0, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

3.4%
FY2025
Return on invested capital. Return on invested capital is 3.4% in the latest fiscal year, against 4.9% in FY2023, having run between 3.4% and 8.2% across FY2023–FY2025 with no direction held. After-tax operating profit was $96M in FY2023 and $68M in FY2025, with operating income at 9.7% of revenue in FY2023, 15.3% in FY2024 and 7.5% in FY2025. The capital base behind it went from $2.0B in FY2023 to $2.0B in FY2025 (+1%), while the revenue it carried went from $1.2B to $1.4B.

Key fundamentals

Latest Revenue$1.37B
Revenue Growth YoY+5.2%
Revenue CAGR (2yr)+5.1%
Net Margin3.4%
Free Cash Flow$150.9M
Return on Equity4.7%
Debt / Equity0.81x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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