CONMED Corporation (CNMD)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,244,740	1,045,470	1,010,640	862,459	955,097
Property, plant and equipment	US$ in thousands	120,722	115,611	108,863	111,407	118,883
Fixed asset turnover		10.31	9.04	9.28	7.74	8.03

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,244,740K ÷ $120,722K
= 10.31

The fixed asset turnover ratio measures a company's ability to generate revenue from its investments in fixed assets. A higher fixed asset turnover ratio indicates that the company is more efficient in utilizing its fixed assets to generate sales.

Conmed Corp.'s fixed asset turnover has shown variability over the five-year period, ranging from 7.74 to 10.31. The trend indicates fluctuations in the company's efficiency in generating sales from its fixed assets.

In 2023, Conmed Corp. achieved a fixed asset turnover ratio of 10.31, which was higher compared to the previous year's ratio of 9.04. This improvement suggests that the company was more efficient in utilizing its fixed assets to generate revenue in 2023.

In contrast, in 2020, the fixed asset turnover ratio was at its lowest at 7.74. This lower ratio may indicate challenges in effectively utilizing fixed assets to drive sales during that period.

Overall, Conmed Corp.'s fixed asset turnover has shown some level of fluctuation, with the company demonstrating varying degrees of efficiency in generating sales from its fixed assets over the five-year period. It would be beneficial for the company to consistently monitor and manage its fixed asset turnover to improve operational efficiency and enhance financial performance.