CONMED vs Glaukos
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KIRA’s take AI analyst
I put CONMED and Glaukos side by side, using each one’s latest annual report. Here is what stands out:
- CONMED is the larger business, with $1.4B of revenue in fiscal 2025 against $507M for Glaukos, about 2.7 times as much.
- Glaukos grew revenue faster (32.3%, against 5.2%).
- CONMED kept more of each dollar of sales as operating profit (7.5% operating margin, against −39.3%).
- CONMED turned more of its sales into free cash flow (11.0% FCF margin, against −4.4%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
CONMED
CNMD
5/8
Operating marginNet marginFCF marginReturn on equityShare count change
Glaukos
GKOS
3/8
Revenue growth5-year growthGross margin
Side by side
Best in the row
| Latest fiscal year | CNMD FY25 | GKOS FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.5B | $10.5B |
| Revenue | $1.4B | $507M |
| Free cash flow | $151M | −$22.5M |
| Net income | $47.1M | −$188M |
| Growth | ||
| Revenue growth | 5.2% | 32.3% |
| 5-year growth | 9.8% | 17.7% |
| Share count change | 0.0% | 8.4% |
| Profitability | ||
| Gross margin | 54.6% | 55.7% |
| Operating margin | 7.5% | −39.3% |
| Net margin | 3.4% | −37.0% |
| FCF margin | 11.0% | −4.4% |
| Return on capital | 3.7% | — |
| Return on equity | 4.7% | −26.4% |
| Balance sheet | ||
| Net debt | $794M | — |
| Net debt / EBITDA | 5.1x | — |
| Dividends and buybacks | $24.7M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.