What is CONMED Corp worth?
With the base-case assumptions below, a discounted cash flow model on CONMED Corp's reported free cash flow gives $94.17 per share. The share price was $45.38 on September 25, 2026, 52% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 5.0% | 10.0% | $47.67 | +5% |
| Base | 10.0% | 9.0% | $94.17 | +108% |
| Bull | 15.0% | 8.0% | $180.90 | +299% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $128.44 | $139.01 | $151.93 | $168.08 | $188.85 |
| 8.0% | $102.78 | $109.64 | $117.74 | $127.46 | $139.34 |
| 9.0% | $84.07 | $88.76 | $94.17 | $100.47 | $107.93 |
| 10.0% | $69.85 | $73.18 | $76.96 | $81.27 | $86.25 |
| 11.0% | $58.69 | $61.13 | $63.86 | $66.93 | $70.42 |
Where the presets come from
Base: years 1 to 5 grow at CONMED Corp's revenue growth rate over the last 5 fiscal years (9.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions