CONMED Corporation (CNMD)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 568,499 | 474,227 | 442,599 | 402,159 | 430,382 |
| Inventory | US$ in thousands | 318,324 | 332,320 | 231,644 | 194,868 | 164,616 |
| Inventory turnover | 1.79 | 1.43 | 1.91 | 2.06 | 2.61 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $568,499K ÷ $318,324K
= 1.79
Conmed Corp.'s inventory turnover has been fluctuating over the past five years. The trend indicates a decrease from 2.61 in 2019 to 1.79 in 2023. This suggests that the company is taking longer to sell its inventory, indicating a potential issue with managing or selling its stock efficiently. A lower inventory turnover ratio may result in higher carrying costs and potential obsolescence risks. Further investigation into the reasons behind this declining trend would be advisable for stakeholders to assess the company's inventory management practices and potential impact on overall financial performance.
Peer comparison
Dec 31, 2023