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 $95.10 per share. The share price was $50.73 on November 10, 2026, 47% 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% | $48.60 | -4% |
| Base | 10.0% | 9.0% | $95.10 | +87% |
| Bull | 15.0% | 8.0% | $181.83 | +258% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $129.38 | $139.95 | $152.87 | $169.01 | $189.78 |
| 8.0% | $103.72 | $110.57 | $118.67 | $128.39 | $140.27 |
| 9.0% | $85.00 | $89.69 | $95.10 | $101.41 | $108.86 |
| 10.0% | $70.78 | $74.11 | $77.89 | $82.21 | $87.19 |
| 11.0% | $59.62 | $62.06 | $64.79 | $67.87 | $71.35 |
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