Paragon 28 Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Paragon 28 Inc (FNA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Paragon 28 Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 255M vs 96,073M combined for tracked competitors (0.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+13.2% annualized vs trailing 12 months), vs accelerating (+11.5%) for its tracked peer group.
- Growth: Paragon 28 Inc generated 20.5% revenue growth year over year in Q4 2024, vs 5.2% for its tracked competitors combined.
- Profitability: Its -15.4% net margin compares with 7.3% for the peer group.
- Peer revenue share: Paragon 28 Inc accounted for 0.3% of combined revenue among its tracked peer group, up from 0.2% a year earlier.
- Peer differentiation: Revenue per employee of $1.77M compares with $0.40M for the peer group (4.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FNA Sales vs. its Competitors, Q4 2024
Paragon 28 Inc reported revenue growth of 20.53 % year on year in Q4 2024, above its competitors' combined revenue growth of 5.21 %.
With a net margin of -15.38 %, Paragon 28 Inc reported lower profitability than its competitors (7.34 %).
Paragon 28 Inc generated 0.27 % of the combined sales of its peer group, up from 0.24 % a year earlier.
Paragon 28 Inc vs. its Competitors, Q4 2024
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Paragon 28 Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Paragon 28 inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Paragon 28 Inc's competitor groups requires a Commercial License.
For context: the Medical Equipment & Supplies industry grew revenue 15.0% year over year, combined, vs 20.5% for Paragon 28 Inc. Paragon 28 Inc's share of combined industry revenue moved from 0.06% to 0.06%, a gain of 0.00 percentage points.
Paragon 28 Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Paragon 28 inc | No | Yes | Yes | No |
| Competitors combined (29) | ||||
| High-Confidence Competitors (8) | ||||
| Similar Growth & Profitability (8) | 0.00 % (0 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FNA Stock Performance relative to its Competitors
FNA Stock Performance relative to High-Confidence Competitors
FNA Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Tenon Medical Inc | 282.9% | Outperformed |
| 2 | Monogram technologies inc | 282.9% | Outperformed |
| 3 | Bioventus Inc | 282.9% | Outperformed |
| 4 | Globus Medical Inc | 282.9% | Outperformed |
| 5 | Zimvie Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Paragon 28 Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Paragon 28 Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Paragon 28 inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Paragon 28 inc | 1,082.21 | 255.49 |
| Medtronic Plc | 115,016.45 | 37,542.00 |
| Stryker Corp | 106,269.66 | 25,837.00 |
| Edwards Lifesciences Corporation | 50,153.01 | 6,512.50 |
| Zimmer Biomet Holdings Inc | 17,664.34 | 8,508.80 |
| Smith and Nephew Plc | 11,820.42 | 6,164.00 |
| SUBTOTAL | 327,436.82 | 97,736.36 |
Sign in to see all competitors of Paragon 28 inc .
Sources: Paragon 28 inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Paragon 28 inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Paragon 28 Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| CrossRoads Extremity Systems, LLC | Named by the company | 85% |
| Medline | Named by the company | 85% |
| Treace | Named by the company | 85% |
| Arthrex | Named by the company | 85% |
| Enovis Medical | Named by the company | 85% |
| Smith | Named by the company | 85% |
| DePuy Synthes | Named by the company | 85% |
| Nephew | Named by the company | 85% |
| Zimmer Biomet | Named by the company | 85% |
| Conmed Corporation | Named by the company | 85% |
| Johnson & Johnson | Named by the company | 85% |
| Stryker | Named by the company | 85% |
| DJO Global | Named by the company | 85% |
| Novastep | Named by the company | 85% |
| Crossroads | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Paragon 28 Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Paragon 28 Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Medtronic Plc | CARDIOVASCULAR 38.34 % |
| Stryker Corp | MedSurg and Neurotechnology 55.02 % |
| Edwards Lifesciences Corporation | United States 57.64 % |
| Globus Medical Inc | Reportable 100.00 % |
| Teleflex Incorporated | Americas 60.77 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Paragon 28 Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Paragon 28 inc | 1,082 | 1,774,229 | -379,437 |
| Medtronic Plc | 115,016 | 395,179 | 55,463 |
| Stryker Corp | 106,270 | 461,375 | 66,589 |
| Edwards Lifesciences Corporation | 50,153 | 407,031 | 62,725 |
| Zimmer Biomet Holdings Inc | 17,664 | 500,518 | 47,476 |
| Smith and Nephew Plc | 11,820 | 362,844 | 36,791 |
| PEERS TOTAL | 326,355 | 398,933 | 38,570 |
Paragon 28 Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Medtronic Plc | United States 49.83 % |
| Stryker Corp | United States 75.26 % |
| Globus Medical Inc | United States 79.61 % |
| Nuvasive Inc | United States 75.71 % |
| Alphatec Holdings Inc | US 94.22 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Paragon 28 Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 222 companies in Paragon 28 Inc's industry classification, broader than the peer set above. Market cap in millions of $.Paragon 28 Inc ranks #0 of 222 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 587, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 145,832 | 13.38 % |
| 2 | Medtronic Plc | 113,372 | 10.40 % |
| 3 | Stryker Corp | 105,405 | 9.67 % |
| 4 | 3m Company | 88,542 | 8.12 % |
| 5 | Boston Scientific Corporation | 1,234 | 5.2% |
| 6 | Becton Dickinson And Company | 1,234 | 5.2% |
| 7 | Edwards Lifesciences Corporation | 1,234 | 5.2% |
| 8 | Dexcom Inc | 1,234 | 5.2% |
| 9 | Resmed Inc | 1,234 | 5.2% |
| 10 | Alcon inc | 1,234 | 5.2% |
| 0 | Paragon 28 inc | 1,084 | 0.00 % |
Market cap and industry share for the rest of Paragon 28 Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2025-04-17.
Paragon 28 Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Equipment & Supplies industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (288 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 74.95 % | 53.35 % (avg) | +21.6 pp |
| Operating Margin | -15.96 % | industry median | -4.3 pp |
| EBITDA Margin | -11.48 % | -6.82 % (avg) | -4.7 pp |
| Capital Intensity (Capex / Revenue) | 0.45 % | 5.43 % (avg) | -5.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Paragon 28 Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Equipment & Supplies industry average (288 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 34.6x | - |
| EV / EBITDA | - | 19.7x | - |
| P/B | 6.7x | 4.7x | +2.0x |
| Return on Equity | -38.27 % | industry aggregate | -46.34 % |
| Return on Invested Capital | -10.26 % | -2.32 % (avg) | -7.94 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Paragon 28 Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue Growth | - | 23.00 % | 18.77 % | 18.59 % |
| Operating Margin | - | -34.07 % | -18.60 % | -15.96 % |
| Return on Invested Capital | - | -16.20 % | -9.00 % | -10.26 % |
| P/E | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Paragon 28 Inc's Strategic Group Map
Every company in Paragon 28 Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Paragon 28 Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Paragon 28 Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 587 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.45 % vs industry average 5.43 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Paragon 28 Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Paragon 28 Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Paragon 28 Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Paragon 28 Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Paragon 28 Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+13.2% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 46.3 points below the industry aggregate.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Paragon 28 Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Paragon 28 inc | 0.86 | 3.49 | 0.77 |
| Medtronic Plc | 0.15 | 2.10 | 0.57 |
| Stryker Corp | 0.48 | 1.99 | 0.68 |
| Edwards Lifesciences Corporation | 1.74 | 4.14 | 0.06 |
| Zimmer Biomet Holdings Inc | 0.25 | 1.93 | 0.60 |
| Smith and Nephew Plc | 0.35 | 2.57 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Paragon 28 Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Paragon 28 inc | Q4 2024 | +20.5 % | - |
| Medtronic Plc | Q2 2026 | +13.7 % | +41.3 % |
| Stryker Corp | Q2 2026 | +9.4 % | +44.3 % |
| Edwards Lifesciences Corporation | Q2 2026 | +13.7 % | -27.2 % |
| Zimmer Biomet Holdings Inc | Q2 2026 | +4.8 % | +30.1 % |
| Smith and Nephew Plc | Q4 2025 | +6.1 % | +51.7 % |
| PEERS TOTAL | +8.4 % | +34.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Paragon 28 Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Paragon 28 inc | Q4 2024 | -13.9 % | - |
| Medtronic Plc | Q2 2026 | +13.8 % | -0.2 % |
| Stryker Corp | Q2 2026 | -4.1 % | +10.4 % |
| Edwards Lifesciences Corporation | Q2 2026 | +14.1 % | +35.7 % |
| Zimmer Biomet Holdings Inc | Q2 2026 | +7.3 % | +45.3 % |
| Smith and Nephew Plc | Q4 2025 | +6.2 % | - |
Paragon 28 Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Paragon 28 inc | - | - | - |
| Medtronic Plc | 5.71% | 6.46% | 10.64% |
| Stryker Corp | 7.89% | 8.80% | 16.36% |
| Edwards Lifesciences Corporation | 7.41% | 8.39% | 9.65% |
| Zimmer Biomet Holdings Inc | 3.51% | 3.97% | 6.36% |
| Smith and Nephew Plc | 5.98% | 5.98% | 11.82% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Paragon 28 Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Paragon 28 inc | - | 4.24 |
| Medtronic Plc | 263.24 | 3.06 |
| Stryker Corp | 28.53 | 4.11 |
| Edwards Lifesciences Corporation | 49.99 | 7.70 |
| Zimmer Biomet Holdings Inc | 22.29 | 2.08 |
| Smith and Nephew Plc | 37.82 | 1.92 |
| PEERS AVERAGE | 34.94 | 3.35 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.