CONMED vs Integra Lifesciences
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KIRA’s take AI analyst
I put CONMED and Integra Lifesciences side by side, using each one’s latest annual report. Here is what stands out:
- Integra Lifesciences is the larger business, with $1.6B of revenue in fiscal 2025 against $1.4B for CONMED.
- CONMED grew revenue faster (5.2%, against 1.5%).
- CONMED kept more of each dollar of sales as operating profit (7.5% operating margin, against −30.2%).
- CONMED turned more of its sales into free cash flow (11.0% FCF margin, against −1.9%).
- CONMED earned a higher return on the capital invested in it (3.7%, against −22.0%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
CONMED
CNMD
9/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Integra Lifesciences
IART
1/10
Share count change
Side by side
Best in the row
| Latest fiscal year | CNMD FY25 | IART FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.5B | $936M |
| Revenue | $1.4B | $1.6B |
| Free cash flow | $151M | −$31.1M |
| Net income | $47.1M | −$517M |
| Growth | ||
| Revenue growth | 5.2% | 1.5% |
| 5-year growth | 9.8% | 3.6% |
| Share count change | 0.0% | −0.4% |
| Profitability | ||
| Gross margin | 54.6% | 50.9% |
| Operating margin | 7.5% | −30.2% |
| Net margin | 3.4% | −31.6% |
| FCF margin | 11.0% | −1.9% |
| Return on capital | 3.7% | −22.0% |
| Return on equity | 4.7% | −39.9% |
| Balance sheet | ||
| Net debt | $794M | $463M |
| Net debt / EBITDA | 5.1x | — |
| Dividends and buybacks | $24.7M | $0.2M |
| Valuation & quality | ||
| P/E | — | 70.1x |
| Piotroski F-score | 6 | 5 |
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.

