CONMED Corporation (CNMD)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	573,983	568,499	474,227	442,599	402,159
Inventory	US$ in thousands	346,719	318,324	332,320	231,644	194,868
Inventory turnover		1.66	1.79	1.43	1.91	2.06

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $573,983K ÷ $346,719K
= 1.66

The inventory turnover of CONMED Corporation has experienced fluctuations over the past five years. In December 2020, the inventory turnover was 2.06, indicating that the company sold its inventory approximately 2.06 times during the year. This ratio decreased to 1.91 by December 2021, suggesting a slight decline in the efficiency of managing and selling inventory.

However, by December 2022, the inventory turnover further decreased to 1.43, signaling a potential issue with excess inventory or slower sales. The company showed some improvement by December 2023 with an inventory turnover of 1.79, indicating a better utilization of inventory.

In the most recent year, December 2024, CONMED Corporation's inventory turnover dropped to 1.66, which may raise concerns about the company's inventory management practices. Overall, the trend in inventory turnover suggests that the company may benefit from reassessing its inventory levels and sales strategies to enhance operational efficiency and liquidity.