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LivaNova vs Conmed: LIVN and CNMD compared
LivaNova is the larger company: $393M of revenue in its latest quarter (Q3 2026) against $336M for Conmed (Q3 2026). LivaNova is growing faster (+10% against -0.7% a year earlier). Conmed is more profitable, with an operating margin of 11.1% against 7.2%.
Where the money goes: LIVN and CNMD
LivaNova (LIVN) · Q3 2026
LivaNova, Q3 2026: revenue $393M (+10% year over year), operating margin 7.2%, net earnings $34.3M, operating cash flow $73.7M. The chart follows the revenue to costs, profit and cash.
Conmed (CNMD) · Q3 2026
Conmed, Q3 2026: revenue $336M (-0.7% year over year), operating margin 11.1%, net earnings $19.8M, operating cash flow $49.4M. The chart follows the revenue to costs, profit and cash.
| LivaNova (LIVN) | Conmed (CNMD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $393M | $336M |
| Revenue growth, Y/Y | +10% | -0.7% |
| Gross margin | 67.4% | 56.4% |
| Operating margin | 7.2% | 11.1% |
| Net earnings | $34.3M | $19.8M |
| Net margin | 8.7% | 5.9% |
| Operating cash flow | $73.7M | $49.4M |
| Free cash flow | $55.8M | $46.7M |
| Market value | $5.2B | $1.4B |
| P/E | 29.9× | 29.3× |
| Analysts’ mean target | $91.91 | $46.83 |
Where the revenue comes from
Conmed
- General Surgery: $187M (56%)
- Orthopedic Surgery: $149M (44%)
Questions
Which is bigger, LivaNova or Conmed?
LivaNova is the larger company: $393M of revenue in its latest quarter (Q3 2026) against $336M for Conmed (Q3 2026).
Is LivaNova or Conmed growing faster?
LivaNova is growing faster (+10% against -0.7% a year earlier).
Which is more profitable, LivaNova or Conmed?
Conmed is more profitable, with an operating margin of 11.1% against 7.2%.
More: LivaNova earnings · how LivaNova makes money · Conmed earnings · how Conmed makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.