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

CONMED brought in $1.4B of revenue in fiscal 2025, TransMedics $605.5M in fiscal 2025. Revenue changed by +5.2% at CONMED and +37.1% at TransMedics on the year before, so TransMedics grew faster. CONMED kept 3.4% of its revenue as net profit, TransMedics 31.4%. Free cash flow was $150.9M at CONMED and $133.6M at TransMedics.

Side by side, latest fiscal year

CNMDTMDX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.4B$605.5M
Revenue growth+5.2%+37.1%
Net income$47.1M$190.3M
Net margin3.4%31.4%
Free cash flow$150.9M$133.6M
Free cash flow margin11.0%22.1%
Earnings per share (diluted)$1.51$4.87
Cash$40.8M$488.9M
Debt$834.9M$10M
Price to earnings30.117.5
Market value$1.4B$3B
Dividend yield1.32%n/a
Rank by revenue in sector#131 of 523 · Health care#182 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: $1.4BTMDX FY2019: $14.7MTMDX FY2019: $25.8MTMDX FY2020: $28.4MTMDX FY2021: $31.4MTMDX FY2022: $93.5MTMDX FY2023: $241.6MTMDX FY2024: $441.5MTMDX FY2025: $605.5MFY18FY19FY20FY21FY22FY23FY24FY25
CNMD $1.4BTMDX $605.5M
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: $47.1MTMDX FY2019: -$23.8MTMDX FY2019: -$33.5MTMDX FY2020: -$28.7MTMDX FY2021: -$44.2MTMDX FY2022: -$36.2MTMDX FY2023: -$25MTMDX FY2024: $35.5MTMDX FY2025: $190.3MFY18FY19FY20FY21FY22FY23FY24FY25
CNMD $47.1MTMDX $190.3M
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%TMDX FY2019: -162.1%TMDX FY2019: -129.8%TMDX FY2020: -101.4%TMDX FY2021: -140.9%TMDX FY2022: -38.8%TMDX FY2023: -10.4%TMDX FY2024: 8.0%TMDX FY2025: 31.4%FY18FY19FY20FY21FY22FY23FY24FY25
CNMD 3.4%TMDX 31.4%
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%TMDX FY2019: +76.3%TMDX FY2020: +9.7%TMDX FY2021: +10.7%TMDX FY2022: +197.8%TMDX FY2023: +158.5%TMDX FY2024: +82.7%TMDX FY2025: +37.1%FY19FY20FY21FY22FY23FY24FY25
CNMD +5.2%TMDX +37.1%
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: $150.9MTMDX FY2019: -$26.4MTMDX FY2019: -$32.5MTMDX FY2020: -$30.7MTMDX FY2021: -$32.4MTMDX FY2022: -$57.7MTMDX FY2023: -$164.9MTMDX FY2024: -$80.9MTMDX FY2025: $133.6MFY18FY19FY20FY21FY22FY23FY24FY25
CNMD $150.9MTMDX $133.6M

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

Questions about CONMED and TransMedics

Which is bigger by revenue, CONMED or TransMedics?

CONMED is bigger by revenue: $1.4B in fiscal 2025, against $605.5M for TransMedics in fiscal 2025.

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

CONMED had a net margin of 3.4% in fiscal 2025; TransMedics had 31.4% in fiscal 2025.

Which grew revenue faster, CONMED or TransMedics?

In their latest fiscal years revenue changed by +5.2% at CONMED and +37.1% at TransMedics.

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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