Artivion vs CONMED
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KIRA’s take AI analyst
I put Artivion and CONMED 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 $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%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Artivion
AORT
7/11
Revenue growth5-year growthGross marginOperating marginReturn on capitalPiotroski F-scoreNet debt / EBITDA
CONMED
CNMD
4/11
Net marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| 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 | — | — |
| Piotroski F-score | 7 | 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.

