Artivion
AORT · Health Care Equipment
$23.30
2.8%CONMED
CNMD · Health Care Equipment
$49.25
0.4%The short version
- CONMED is the larger business, with $1.4B of revenue in fiscal 2025 against $441M for Artivion, about 3.1 times as much.
- Artivion grew revenue faster (13.6%, against 5.2%).
- CONMED turned more of its sales into free cash flow (11.0% FCF margin, against 0.2% FCF margin).
| Latest fiscal year | AORT · FY25 | CNMD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.1B | $1.5B |
| Revenue | $441M | $1.4B |
| Free cash flow | $0.8M | $151M |
| Net income | $9.8M | $47.1M |
| Growth | ||
| Revenue growth | 13.6% | 5.2% |
| 5-year growth | 11.8% | 9.8% |
| Share count change | 13.2% | 0.0% |
| Profitability | ||
| Gross margin | 64.4% | 54.6% |
| Operating margin | 7.7% | 7.5% |
| Net margin | 2.2% | 3.4% |
| FCF margin | 0.2% | 11.0% |
| Return on capital | 3.9% | 3.7% |
| Return on equity | 2.7% | 4.7% |
| Balance sheet | ||
| Net debt | $154M | $794M |
| Net debt / EBITDA | 2.7x | 5.1x |
| Dividends and buybacks | $0.0M | $24.7M |
| Valuation & quality | ||
| P/E | — | 32.6x |
| Piotroski F-score | 7 | 6 |
FY16
AORT $180M
CNMD $764M
FY17
AORT $190M
CNMD $796M
FY18
AORT $263M
CNMD $860M
FY19
AORT $276M
CNMD $955M
FY20
AORT $253M
CNMD $863M
FY21
AORT $299M
CNMD $1.0B
FY22
AORT $314M
CNMD $1.0B
FY23
AORT $354M
CNMD $1.2B
FY24
AORT $389M
CNMD $1.3B
FY25
AORT $441M
CNMD $1.4B
AORT
CNMD
FY16
AORT 12.1%
CNMD 4.9%
FY17
AORT 4.2%
CNMD 5.9%
FY18
AORT 3.5%
CNMD 8.3%
FY19
AORT 6.2%
CNMD 8.3%
FY20
AORT 1.0%
CNMD 5.3%
FY21
AORT 2.7%
CNMD 10.9%
FY22
AORT 2.0%
CNMD 6.7%
FY23
AORT 1.6%
CNMD 9.7%
FY24
AORT 10.0%
CNMD 15.3%
FY25
AORT 7.7%
CNMD 7.5%
AORT
CNMD
FY16
AORT $13.5M
CNMD $25.1M
FY17
AORT $4.2M
CNMD $52.7M
FY18
AORT $4.1M
CNMD $58.2M
FY19
AORT $7.8M
CNMD $75.1M
FY20
AORT $5.0M
CNMD $51.5M
FY21
AORT −$15.7M
CNMD $96.9M
FY22
AORT −$15.9M
CNMD $11.6M
FY23
AORT $9.1M
CNMD $106M
FY24
AORT $11.1M
CNMD $154M
FY25
AORT $0.8M
CNMD $151M
AORT
CNMD
FY16
AORT —
CNMD 3.1%
FY17
AORT 2.3%
CNMD 4.4%
FY18
AORT 1.6%
CNMD 5.3%
FY19
AORT 3.7%
CNMD 5.7%
FY20
AORT 0.4%
CNMD 3.2%
FY21
AORT 1.1%
CNMD 6.5%
FY22
AORT 0.9%
CNMD 3.4%
FY23
AORT 0.8%
CNMD 5.4%
FY24
AORT 5.7%
CNMD 9.0%
FY25
AORT 3.9%
CNMD 3.7%
AORT
CNMD
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.