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Conmed cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$46.7M in Q3 2026 · $133M over twelve months

Operating cash flow$49.4M
Capital spending−$2.7M
Free cash flow+$46.7M
Cash / net income2.5×
Cash conversion cycle229 days

Analysis

In Q3 2026, Conmed generated $49.4M of operating cash flow and spent $2.7M on capital projects, leaving free cash flow of $46.7M. That is $1.8M less than in Q3 2025 ($48.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $146M; the largest uses were other financing ($741M), capital spending ($13.6M), dividends ($6.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($604M), other investing ($20.3M); the cash balance rose by $9.0M.

Operating cash flow was $49.4M against net income of $19.8M — 2.5× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets −$13.3M, depreciation & amortization +$12.8M, employee-related liabilities +$6.3M.

Its cash conversion cycle was 229 days (receivables 65 + inventory 227 − payables 63).

Free cash flow

Conmed: free cash flow by quarterConmed: free cash flow by quarter$47.8MQ3 2024$39.3MQ4 2024$37.8MQ1 2025$23.4MQ2 2025$48.5MQ3 2025$41.2MQ4 2025$46.7MQ3 2026
Operating cash flow less capital spending.
Conmed: operating cash flow against capital spendingConmed: operating cash flow against capital spendingOperating cash flowCapital spending$51.2M$3.4MQ3 2024$43.3M$4.0MQ4 2024$41.5M$3.8MQ1 2025$29.1M$5.7MQ2 2025$53.7M$5.2MQ3 2025$46.3M$5.1MQ4 2025$49.4M$2.7MQ3 2026
Latest (Q3 2026): Operating cash flow $49.4M, Capital spending $2.7M.

Capital allocation, year by year

Conmed: where the cash came from (up) and went (down), by fiscal yearConmed: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $112MFY2021: Net borrowing −$81.5MFY2021: Shares issued $19.6MFY2021: Capital spending −$14.9MFY2021: Dividends −$23.3M$131MFY2021FY2022: Operating cash flow $33.4MFY2022: Net borrowing −$163MFY2022: Shares issued $8.9MFY2022: Capital spending −$21.8MFY2022: Acquisitions −$228MFY2022: Dividends −$24.0M$42.3MFY2022FY2023: Operating cash flow $125MFY2023: Net borrowing −$88.4MFY2023: Shares issued $16.2MFY2023: Capital spending −$19.0MFY2023: Dividends −$24.5M$142MFY2023FY2024: Operating cash flow $167MFY2024: Net borrowing −$2.7MFY2024: Shares issued $3.4MFY2024: Capital spending −$13.1MFY2024: Dividends −$24.7M$170MFY2024FY2025: Operating cash flow $171MFY2025: Net borrowing −$75.3MFY2025: Shares issued $200KFY2025: Capital spending −$19.8MFY2025: Dividends −$24.7M$171MFY2025
Over these 5 years operating cash flow totalled $608M; the largest uses were net borrowing ($411M) and acquisitions ($228M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$40.8M
Debt$835M
Net debt$794M
Due within a year$712K

Conmed funds itself: free cash flow was $133M over the last twelve months, and $40.8M of cash and investments stands against $835M of debt ($712K due within a year, 57.3× covered by cash).

Conmed: debt maturities by year (FY2025)Conmed: debt maturities by year (FY2025)$800MYear 2$40.0MYear 5
Principal due in each year as disclosed in the annual report, against $40.8M of cash and investments now.

Where the cash came from and went

Conmed: sources (+) and uses (−) of cash, Q3 2026Conmed: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$49.4MNet borrowing (+) / repaid (−)−$18.6MOther financing−$12.1MCash drawn (+) / kept (−)−$10.6MBuybacks−$6.2MCapital spending−$2.7MOther investing$813KExchange rates$61K
Conmed: sources (+) and uses (−) of cash, TTM to Q3 2026Conmed: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$741MNet borrowing (+) / repaid (−)$604MOperating cash flow$146MOther investing$20.3MCapital spending−$13.6MCash drawn (+) / kept (−)−$9.0MDividends−$6.2MExchange rates−$848K

From profit to cash

Conmed: net income to operating cash flow, Q3 2026Conmed: net income to operating cash flow, Q3 2026Net income$19.8MDepreciation & amortization$12.8MStock-based pay$5.9MDeferred taxes$4.6MReceivables$5.7MInventory−$1.9MPayables−$2.4MEmployee-related liabilities$6.3MPrepaid and other assets−$13.3MOther liabilities$4.5MOperating cash flow$49.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266522763229
Q4 20255821460212
Q3 20256219556201
Q2 20256121258214
Q1 20256422062222
Q4 20246221564213
Q3 20246822269222

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$49.4M−$2.7M−$6.2M—−$18.6M−$10.6M$46.7M
Q4 2025$46.3M−$5.1M—−$6.2M−$20.0M−$1.9M$41.2M
Q3 2025$53.7M−$5.2M—−$6.2M−$29.0M−$5.0M$48.5M
Q2 2025$29.1M−$5.7M—−$6.2M−$36.2M$1.6M$23.4M
Q1 2025$41.5M−$3.8M—−$6.2M−$14.6M−$11.0M$37.8M
Q4 2024$43.3M−$4.0M—−$6.2M−$36.0M$14.0M$39.3M
Q3 2024$51.2M−$3.4M—−$6.2M−$26.0M−$9.6M$47.8M

Conmed: income statement and cash flow

Conmed, Q3 2026: revenue $336M (-0.7% year over year), operating margin 11.1%. The chart follows the revenue to costs, profit and cash.

Conmed: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.