CNMD
CONMED Corporation
CNMD offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
LLY
Eli Lilly and Company
LLY has the edge over CNMD overall, supported by stronger fundamentals and stronger modeled upside.
CNMD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Weak |
CNMD's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is weak.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
CNMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $50.48 | — |
| Cheap | 17x | $41.30 | -18% |
| Current | 21x | $50.48 | — |
| Fair | 36x | $86.56 | +71% |
| Expensive | 76x | $185 | +266% |
Historical ranges are pointers, not guarantees.
CNMD has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
CNMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect CNMD's earnings to grow, with its revenue and profitability holding steady.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over CNMD on the outlook, with more favorable revenue and profitability expectations.
CNMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.63 | +91% |
| Q3 2026 | $2.42 | +17% |
| Q2 2026 | $1.85 | -48% |
| Q1 2026 | $1.77 | -54% |
| Q4 2025 | $1.51 | -64% |
| Q3 2025 | $2.06 | -51% |
| Q2 2025 | $3.54 | +13% |
| Q1 2025 | $3.81 | +46% |
| Q4 2024 | $4.25 | +108% |
CNMD's earnings per share have fallen from their peak: $2.42 over the past year, against $4.25 in late 2024.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over CNMD on earnings, with more consistent year-over-year improvement.
CNMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $335.6M | -0.7% |
| Q2 2026 | $343.5M | +0.3% |
| Q1 2026 | $317M | -1.3% |
| Q4 2025 | $373.2M | +7.9% |
| Q3 2025 | $337.9M | +6.7% |
| Q2 2025 | $342.3M | +3.1% |
| Q1 2025 | $321.3M | +2.9% |
| Q4 2024 | $345.9M | +5.8% |
CNMD's revenue grew through 2024 and has held roughly level since: $336M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +7.6 points |
| Q2 2026 | 11% | -0.6 points |
| Q1 2026 | 8% | +3 points |
| Q4 2025 | 9.8% | -5.4 points |
| Q3 2025 | 3.5% | -17 points |
| Q2 2025 | 11% | -3 points |
| Q1 2025 | 5% | -6.2 points |
| Q4 2024 | 15% | -0.2 points |
CNMD's operating margin was 11% last quarter, up 7.6 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over CNMD on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over CNMD on profitability, with a higher operating margin.
CNMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $46.7M | -3.7% |
| Q2 2026 | $34.2M | +46% |
| Q1 2026 | $10.6M | -72% |
| Q4 2025 | $41.2M | +4.9% |
| Q3 2025 | $48.5M | +1.5% |
| Q2 2025 | $23.4M | -41% |
| Q1 2025 | $37.8M | +39% |
| Q4 2024 | $39.3M | -24% |
CNMD generated $133M in free cash flow over the past year, down 11% from the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over CNMD on cash flow, with more consistent year-over-year improvement.
CNMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +8K shares |
| 1 year | -3% | -925K shares |
| 3 years | -4.9% | -1.6M shares |
| 5 years | -6.3% | -2M shares |
| Available history | +2.1% | +630K shares |
CNMD has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6.2M |
| Q2 2026 | $6.2M |
| Q1 2026 | $37M |
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has 893M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
CNMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | 5.2x | High |
| Q1 2026 | 5.3x | High |
| Q4 2025 | 5.1x | High |
| Q3 2025 | 4.8x | High |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 3.7x | Elevated |
| Q4 2024 | 3.5x | Elevated |
CNMD's net debt is about 4.3 years of its operating earnings (EBITDA), down from 4.8 years a year ago.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY has the edge over CNMD on leverage, with a lower net debt burden relative to earnings.
CNMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.0 | Neutral |
| Stochastic | 49.0 | Neutral |
CNMD's weekly RSI is 59 (neutral) and its Stochastic is 49 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
CNMD PE vs Healthcare Sector
| Metric | CNMD | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 26x | 19% below |
| PE % | 26 | 29 | 3 pts below |
CNMD has the edge over LLY on valuation relative to its sector.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
CNMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.3 | 6.7% above |
| 20 week MA | $46.2 | 9.2% above |
| 50 week MA | $41.7 | 21% above |
| 100 week MA | $48.5 | 4.2% above |
| 200 week MA | $70.6 | 29% below |
CNMD has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 29% below its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over CNMD on trend strength, trading above more of its moving averages.
CNMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $110.5 | $112.8 | +2.1% |
| 2021 | $112.8 | $142.0 | +26% |
| 2022 | $142.0 | $86.8 | -39% |
| 2023 | $86.8 | $109.5 | +26% |
| 2024 | $109.5 | $70.6 | -36% |
| 2025 | $70.6 | $40.8 | -42% |
| 2026 YTD | $40.8 | $50.5 | +24% |
CNMD has finished lower in three of the last six years. It's up 24% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over CNMD on returns for 2026, with the stronger performance.