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Side-by-side financial comparison of CONMED Corp (CNMD) and FONAR CORP (FONR). Click either name above to swap in a different company.
CONMED Corp is the larger business by last-quarter revenue ($373.2M vs $25.5M, roughly 14.6× FONAR CORP). On growth, CONMED Corp posted the faster year-over-year revenue change (7.9% vs 2.4%). CONMED Corp produced more free cash flow last quarter ($41.2M vs $-227.0K). Over the past eight quarters, CONMED Corp's revenue compounded faster (9.3% CAGR vs -0.3%).
The CONMED Corporation is a publicly traded American manufacturer of medical equipment and surgical devices, primarily in the orthopedic, laparoscopic and general surgery, and patient care areas. CONMED's headquarters is in Largo, Florida. Prior to July 2022, it was in Utica, New York. CONMED embraces a people-first culture that starts with a mission to support their healthcare partners and the patients they serve. They have manufacturing facilities in the United States and Mexico, offices in...
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
CNMD vs FONR — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $373.2M | $25.5M |
| Net Profit | — | $2.1M |
| Gross Margin | 58.5% | — |
| Operating Margin | 9.8% | 13.5% |
| Net Margin | — | 8.0% |
| Revenue YoY | 7.9% | 2.4% |
| Net Profit YoY | — | 4.7% |
| EPS (diluted) | $0.54 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $373.2M | $25.5M | ||
| Q3 25 | $337.9M | $26.0M | ||
| Q2 25 | $342.3M | $27.3M | ||
| Q1 25 | $321.3M | $27.2M | ||
| Q4 24 | $345.9M | $24.9M | ||
| Q3 24 | $316.7M | $25.0M | ||
| Q2 24 | $332.1M | $25.9M | ||
| Q1 24 | $312.3M | $25.7M |
| Q4 25 | — | $2.1M | ||
| Q3 25 | $2.9M | $2.3M | ||
| Q2 25 | $21.4M | $729.3K | ||
| Q1 25 | $6.0M | $2.5M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $49.0M | $3.1M | ||
| Q2 24 | $30.0M | $830.4K | ||
| Q1 24 | $19.7M | $1.9M |
| Q4 25 | 58.5% | — | ||
| Q3 25 | 49.2% | — | ||
| Q2 25 | 55.0% | — | ||
| Q1 25 | 55.3% | — | ||
| Q4 24 | 57.3% | — | ||
| Q3 24 | 56.5% | — | ||
| Q2 24 | 55.3% | — | ||
| Q1 24 | 55.1% | — |
| Q4 25 | 9.8% | 13.5% | ||
| Q3 25 | 3.5% | 14.1% | ||
| Q2 25 | 11.1% | 5.3% | ||
| Q1 25 | 5.0% | 15.2% | ||
| Q4 24 | 15.2% | 11.9% | ||
| Q3 24 | 20.7% | 21.0% | ||
| Q2 24 | 14.2% | 7.4% | ||
| Q1 24 | 11.2% | 16.8% |
| Q4 25 | — | 8.0% | ||
| Q3 25 | 0.8% | 8.7% | ||
| Q2 25 | 6.3% | 2.7% | ||
| Q1 25 | 1.9% | 9.2% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 15.5% | 12.6% | ||
| Q2 24 | 9.0% | 3.2% | ||
| Q1 24 | 6.3% | 7.3% |
| Q4 25 | $0.54 | — | ||
| Q3 25 | $0.09 | — | ||
| Q2 25 | $0.69 | — | ||
| Q1 25 | $0.19 | — | ||
| Q4 24 | $1.09 | — | ||
| Q3 24 | $1.57 | — | ||
| Q2 24 | $0.96 | — | ||
| Q1 24 | $0.63 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $121.0K |
| Total DebtLower is stronger | $834.2M | — |
| Stockholders' EquityBook value | $1.0B | $176.9M |
| Total Assets | $2.3B | $217.2M |
| Debt / EquityLower = less leverage | 0.81× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $121.0K | ||
| Q3 25 | — | $122.0K | ||
| Q2 25 | — | $56.5M | ||
| Q1 25 | — | $123.0K | ||
| Q4 24 | — | $121.0K | ||
| Q3 24 | — | $136.0K | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $134.0K |
| Q4 25 | $834.2M | — | ||
| Q3 25 | $853.0M | — | ||
| Q2 25 | $881.1M | — | ||
| Q1 25 | $891.4M | — | ||
| Q4 24 | $905.1M | — | ||
| Q3 24 | $940.1M | — | ||
| Q2 24 | $965.2M | $66.9K | ||
| Q1 24 | $990.1M | — |
| Q4 25 | $1.0B | $176.9M | ||
| Q3 25 | $1.0B | $174.9M | ||
| Q2 25 | $1.0B | $172.6M | ||
| Q1 25 | $977.6M | $171.9M | ||
| Q4 24 | $962.7M | $169.8M | ||
| Q3 24 | $932.9M | $168.7M | ||
| Q2 24 | $881.8M | $166.0M | ||
| Q1 24 | $854.7M | $165.8M |
| Q4 25 | $2.3B | $217.2M | ||
| Q3 25 | $2.3B | $218.4M | ||
| Q2 25 | $2.3B | $216.9M | ||
| Q1 25 | $2.3B | $214.9M | ||
| Q4 24 | $2.3B | $208.0M | ||
| Q3 24 | $2.3B | $212.3M | ||
| Q2 24 | $2.3B | $214.2M | ||
| Q1 24 | $2.3B | $209.6M |
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.85× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.09× | 0.00× | ||
| Q1 24 | 1.16× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $46.3M | $171.0K |
| Free Cash FlowOCF − Capex | $41.2M | $-227.0K |
| FCF MarginFCF / Revenue | 11.0% | -0.9% |
| Capex IntensityCapex / Revenue | 1.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 0.08× |
| TTM Free Cash FlowTrailing 4 quarters | $150.9M | $5.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.3M | $171.0K | ||
| Q3 25 | $53.7M | $1.7M | ||
| Q2 25 | $29.1M | $4.2M | ||
| Q1 25 | $41.5M | $3.1M | ||
| Q4 24 | $43.3M | $2.2M | ||
| Q3 24 | $51.2M | $1.7M | ||
| Q2 24 | $43.3M | $4.6M | ||
| Q1 24 | $29.1M | $2.8M |
| Q4 25 | $41.2M | $-227.0K | ||
| Q3 25 | $48.5M | $-177.0K | ||
| Q2 25 | $23.4M | $3.6M | ||
| Q1 25 | $37.8M | $2.6M | ||
| Q4 24 | $39.3M | $1.5M | ||
| Q3 24 | $47.8M | $-148.0K | ||
| Q2 24 | $39.7M | $4.2M | ||
| Q1 24 | $27.1M | $2.6M |
| Q4 25 | 11.0% | -0.9% | ||
| Q3 25 | 14.4% | -0.7% | ||
| Q2 25 | 6.8% | 13.1% | ||
| Q1 25 | 11.8% | 9.4% | ||
| Q4 24 | 11.4% | 6.0% | ||
| Q3 24 | 15.1% | -0.6% | ||
| Q2 24 | 12.0% | 16.1% | ||
| Q1 24 | 8.7% | 10.2% |
| Q4 25 | 1.4% | 1.6% | ||
| Q3 25 | 1.5% | 7.2% | ||
| Q2 25 | 1.7% | 2.4% | ||
| Q1 25 | 1.2% | 2.2% | ||
| Q4 24 | 1.2% | 3.0% | ||
| Q3 24 | 1.1% | 7.2% | ||
| Q2 24 | 1.1% | 1.6% | ||
| Q1 24 | 0.7% | 0.7% |
| Q4 25 | — | 0.08× | ||
| Q3 25 | 18.78× | 0.75× | ||
| Q2 25 | 1.36× | 5.79× | ||
| Q1 25 | 6.88× | 1.26× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | 1.05× | 0.53× | ||
| Q2 24 | 1.44× | 5.54× | ||
| Q1 24 | 1.48× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNMD
| Transferred At Point In Time | $358.5M | 96% |
| Transferred Over Time | $14.7M | 4% |
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
