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DCF Valuation
Base-case fair value
$77.38
Intrinsic $103.17 · 25% MOS
Current price: $32.11
Base-case summary
Our base-case DCF for CONMED Corp (CNMD) projects 10 years of free cash flow growth at 9.3% for years 1–5 and 4.7% for years 6–10, anchored to 9.3% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $151M in trailing free cash flow, this produces an intrinsic value of $103.17 per share. A 25% safety margin gives a fair value of $77.38, suggesting the stock is currently 141% undervalued against the $32.11 market price.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$151M
Cash & equivalents
$41M
Total debt
$889M
Shares outstanding
31M