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CONMED vs Medtronic: revenue, profit, margins and growth compared

CONMED brought in $1.4B of revenue in fiscal 2025, Medtronic $36.4B in fiscal 2026. Revenue changed by +5.2% at CONMED and +8.4% at Medtronic on the year before, so Medtronic grew faster. CONMED kept 3.4% of its revenue as net profit, Medtronic 13.2%. Free cash flow was $150.9M at CONMED and $5.4B at Medtronic.

Side by side, latest fiscal year

CNMDMDT
Fiscal year endedFY2025 (December 31, 2025)FY2026 (April 24, 2026)
Revenue$1.4B$36.4B
Revenue growth+5.2%+8.4%
Net income$47.1M$4.8B
Net margin3.4%13.2%
Free cash flow$150.9M$5.4B
Free cash flow margin11.0%14.9%
Earnings per share (diluted)$1.51$3.73
Cash$40.8M$1.9B
Debt$834.9M$26.2B
Price to earnings30.123.8
Market value$1.4B$113.5B
Dividend yield1.32%3.20%
Rank by revenue in sector#131 of 523 · Health care#21 of 523 · Health care

Over the years

Revenue
CNMD FY2018: $859.6MCNMD FY2019: $955.1MCNMD FY2020: $862.5MCNMD FY2021: $1BCNMD FY2022: $1BCNMD FY2023: $1.2BCNMD FY2024: $1.3BCNMD FY2025: $1.4BMDT FY2019: $30.6BMDT FY2020: $28.9BMDT FY2021: $30.1BMDT FY2022: $31.7BMDT FY2023: $31.2BMDT FY2024: $32.4BMDT FY2025: $33.5BMDT FY2026: $36.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CNMD $1.4BMDT $36.4B
Net income
CNMD FY2018: $40.9MCNMD FY2019: $28.6MCNMD FY2020: $9.5MCNMD FY2021: $62.5MCNMD FY2022: -$80.6MCNMD FY2023: $64.5MCNMD FY2024: $132.4MCNMD FY2025: $47.1MMDT FY2019: $4.6BMDT FY2020: $4.8BMDT FY2021: $3.6BMDT FY2022: $5BMDT FY2023: $3.8BMDT FY2024: $3.7BMDT FY2025: $4.7BMDT FY2026: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CNMD $47.1MMDT $4.8B
Net margin
CNMD FY2018: 4.8%CNMD FY2019: 3.0%CNMD FY2020: 1.1%CNMD FY2021: 6.2%CNMD FY2022: -7.7%CNMD FY2023: 5.2%CNMD FY2024: 10.1%CNMD FY2025: 3.4%MDT FY2019: 15.2%MDT FY2020: 16.6%MDT FY2021: 12.0%MDT FY2022: 15.9%MDT FY2023: 12.0%MDT FY2024: 11.4%MDT FY2025: 13.9%MDT FY2026: 13.2%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CNMD 3.4%MDT 13.2%
Revenue growth
CNMD FY2019: +11.1%CNMD FY2020: -9.7%CNMD FY2021: +17.2%CNMD FY2022: +3.4%CNMD FY2023: +19.1%CNMD FY2024: +5.0%CNMD FY2025: +5.2%MDT FY2020: -5.4%MDT FY2021: +4.2%MDT FY2022: +5.2%MDT FY2023: -1.4%MDT FY2024: +3.6%MDT FY2025: +3.6%MDT FY2026: +8.4%FY19FY20FY21FY22FY23FY24FY25FY26
CNMD +5.2%MDT +8.4%
Free cash flow
CNMD FY2018: $58.2MCNMD FY2019: $75.1MCNMD FY2020: $51.5MCNMD FY2021: $96.9MCNMD FY2022: $11.6MCNMD FY2023: $106.3MCNMD FY2024: $153.9MCNMD FY2025: $150.9MMDT FY2019: $5.9BMDT FY2020: $6BMDT FY2021: $4.9BMDT FY2022: $6BMDT FY2023: $4.6BMDT FY2024: $5.2BMDT FY2025: $5.2BMDT FY2026: $5.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CNMD $150.9MMDT $5.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about CONMED and Medtronic

Which is bigger by revenue, CONMED or Medtronic?

Medtronic is bigger by revenue: $36.4B in fiscal 2026, against $1.4B for CONMED in fiscal 2025.

Which keeps more of its revenue as profit, CONMED or Medtronic?

CONMED had a net margin of 3.4% in fiscal 2025; Medtronic had 13.2% in fiscal 2026.

Which grew revenue faster, CONMED or Medtronic?

In their latest fiscal years revenue changed by +5.2% at CONMED and +8.4% at Medtronic.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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