CONMED Corporation (CNMD)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,244,743 | 1,168,565 | 1,139,075 | 1,098,613 | 1,045,472 | 1,068,575 | 1,042,314 | 1,020,285 | 1,010,635 | 989,493 | 978,501 | 881,125 | 862,458 | 874,495 | 870,250 | 950,728 | 955,096 | 932,675 | 901,392 | 875,949 |
| Property, plant and equipment | US$ in thousands | 120,722 | 120,436 | 116,788 | 115,356 | 115,611 | 113,720 | 111,592 | 108,526 | 108,863 | 109,181 | 107,722 | 109,379 | 111,407 | 112,253 | 113,164 | 114,234 | 118,883 | 116,743 | 117,329 | 116,976 |
| Fixed asset turnover | 10.31 | 9.70 | 9.75 | 9.52 | 9.04 | 9.40 | 9.34 | 9.40 | 9.28 | 9.06 | 9.08 | 8.06 | 7.74 | 7.79 | 7.69 | 8.32 | 8.03 | 7.99 | 7.68 | 7.49 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,244,743K ÷ $120,722K
= 10.31
The fixed asset turnover ratio for Conmed Corp. has been relatively stable over the past eight quarters, ranging from 9.04 to 10.31. This indicates that the company is efficient in generating revenue from its fixed assets. A higher fixed asset turnover ratio generally signifies that the company is utilizing its fixed assets effectively to generate sales.
Conmed Corp.'s fixed asset turnover ratio consistently above 9 suggests that the company is efficiently managing its fixed assets to support revenue generation. This indicates good operational efficiency and effective utilization of resources. Overall, the trend in the fixed asset turnover ratio for Conmed Corp. reflects a strong operational performance in terms of generating revenue from its fixed assets.
Peer comparison
Dec 31, 2023