CONMED
CNMD · Health Care Equipment
$49.25
0.4%LivaNova
LIVN · Health Care Equipment
$80.90
0.5%The short version
- LivaNova is the larger business, with $1.4B of revenue in fiscal 2025 against $1.4B for CONMED.
- LivaNova grew revenue faster (10.7%, against 5.2%).
- LivaNova kept more of each dollar of sales as operating profit (14.4% operating margin, against 7.5% operating margin).
- LivaNova turned more of its sales into free cash flow (12.5% FCF margin, against 11.0% FCF margin).
- LivaNova earned a higher return on the capital invested in it (12.8%, against 3.7%).
- Investors pay more for each dollar of CONMED’s earnings: a P/E of 32.6x against 23.9x for LivaNova.
| Latest fiscal year | CNMD · FY25 | LIVN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.5B | $4.6B |
| Revenue | $1.4B | $1.4B |
| Free cash flow | $151M | $173M |
| Net income | $47.1M | −$243M |
| Growth | ||
| Revenue growth | 5.2% | 10.7% |
| 5-year growth | 9.8% | 8.2% |
| Share count change | 0.0% | −0.1% |
| Profitability | ||
| Gross margin | 54.6% | 67.7% |
| Operating margin | 7.5% | 14.4% |
| Net margin | 3.4% | −17.5% |
| FCF margin | 11.0% | 12.5% |
| Return on capital | 3.7% | 12.8% |
| Return on equity | 4.7% | −19.2% |
| Balance sheet | ||
| Net debt | $794M | −$260M |
| Net debt / EBITDA | 5.1x | — |
| Dividends and buybacks | $24.7M | $0.0M |
| Valuation & quality | ||
| P/E | 32.6x | 23.9x |
| Piotroski F-score | 6 | 5 |
FY16
CNMD $764M
LIVN $965M
FY17
CNMD $796M
LIVN $1.0B
FY18
CNMD $860M
LIVN $1.1B
FY19
CNMD $955M
LIVN $1.1B
FY20
CNMD $863M
LIVN $934M
FY21
CNMD $1.0B
LIVN $1.0B
FY22
CNMD $1.0B
LIVN $1.0B
FY23
CNMD $1.2B
LIVN $1.2B
FY24
CNMD $1.3B
LIVN $1.3B
FY25
CNMD $1.4B
LIVN $1.4B
CNMD
LIVN
FY16
CNMD 4.9%
LIVN 3.5%
FY17
CNMD 5.9%
LIVN 9.5%
FY18
CNMD 8.3%
LIVN −22.4%
FY19
CNMD 8.3%
LIVN −15.8%
FY20
CNMD 5.3%
LIVN −29.3%
FY21
CNMD 10.9%
LIVN −0.1%
FY22
CNMD 6.7%
LIVN −7.5%
FY23
CNMD 9.7%
LIVN −5.9%
FY24
CNMD 15.3%
LIVN 10.3%
FY25
CNMD 7.5%
LIVN 14.4%
CNMD
LIVN
FY16
CNMD $25.1M
LIVN $51.8M
FY17
CNMD $52.7M
LIVN $58.4M
FY18
CNMD $58.2M
LIVN $83.3M
FY19
CNMD $75.1M
LIVN −$116M
FY20
CNMD $51.5M
LIVN −$114M
FY21
CNMD $96.9M
LIVN $77.1M
FY22
CNMD $11.6M
LIVN $43.4M
FY23
CNMD $106M
LIVN $39.9M
FY24
CNMD $154M
LIVN $136M
FY25
CNMD $151M
LIVN $173M
CNMD
LIVN
FY16
CNMD 3.1%
LIVN 2.7%
FY17
CNMD 4.4%
LIVN —
FY18
CNMD 5.3%
LIVN —
FY19
CNMD 5.7%
LIVN −8.3%
FY20
CNMD 3.2%
LIVN −13.7%
FY21
CNMD 6.5%
LIVN −0.0%
FY22
CNMD 3.4%
LIVN −4.3%
FY23
CNMD 5.4%
LIVN −3.5%
FY24
CNMD 9.0%
LIVN 5.9%
FY25
CNMD 3.7%
LIVN 12.8%
CNMD
LIVN
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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.