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.