Discounted Cash Flow

Conmed Corp.

CNMD · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $763.5m $14.7m $23.5m 1.9% $0.53
2017 $796.4m (4.3%) $55.5m (278.4%) $52.7m (124.7%) 7.0% (262.8%) $1.99 (275.5%)
2018 $859.6m (7.9%) $40.9m (-26.4%) $58.2m (10.4%) 4.8% (-31.8%) $1.45 (-27.1%)
2019 $955.1m (11.1%) $28.6m (-29.9%) $75.1m (29.0%) 3.0% (-36.9%) $1.01 (-30.3%)
2020 $862.5m (-9.7%) $9.5m (-66.7%) $51.5m (-31.4%) 1.1% (-63.2%) $0.33 (-67.3%)
2021 $1.0b (17.2%) $62.5m (557.2%) $96.9m (88.1%) 6.2% (460.8%) $2.14 (548.5%)
2022 $1.0b (3.4%) $-80.6m (-228.8%) $11.6m (-88.1%) -7.7% (-224.6%) $-2.68 (-225.2%)
2023 $1.2b (19.1%) $64.5m (180.0%) $106.3m (818.1%) 5.2% (167.2%) $2.10 (178.4%)
2024 $1.3b (5.0%) $132.4m (105.4%) $153.9m (44.7%) 10.1% (95.6%) $4.29 (104.3%)
2025 $1.4b (5.2%) $47.1m (-64.5%) $150.9m (-2.0%) 3.4% (-66.2%) $1.52 (-64.6%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model