CONMED Corporation (CNMD)
Payables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 568,498 | 542,633 | 529,587 | 508,038 | 474,227 | 473,336 | 456,384 | 444,708 | 442,600 | 441,800 | 439,416 | 411,535 | 402,158 | 407,734 | 407,076 | 428,293 | 430,382 | 417,281 | 405,482 | 394,958 |
| Payables | US$ in thousands | 88,224 | 81,871 | 78,577 | 76,680 | 73,393 | 74,228 | 73,972 | 67,458 | 58,197 | 46,596 | 55,665 | 55,780 | 53,310 | 57,197 | 39,831 | 57,379 | 55,968 | 45,852 | 51,139 | 54,491 |
| Payables turnover | 6.44 | 6.63 | 6.74 | 6.63 | 6.46 | 6.38 | 6.17 | 6.59 | 7.61 | 9.48 | 7.89 | 7.38 | 7.54 | 7.13 | 10.22 | 7.46 | 7.69 | 9.10 | 7.93 | 7.25 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $568,498K ÷ $88,224K
= 6.44
Conmed Corp.'s payables turnover has been relatively stable over the past 8 quarters, ranging between 6.17 and 6.74. The payables turnover ratio represents how efficiently the company is managing its accounts payables by paying its suppliers. A higher ratio indicates that the company is paying its suppliers more frequently within a given period.
Conmed Corp.'s average payables turnover ratio over the last 8 quarters is approximately 6.52, suggesting that the company takes around 56 days (365 days divided by 6.52) to pay its suppliers on average.
The consistency in the payables turnover ratio indicates that Conmed Corp. has been able to maintain a steady relationship with its suppliers in terms of payment frequency. An increasing trend in the ratio could suggest that the company is managing its payables more efficiently or negotiating better credit terms with suppliers. Conversely, a decreasing trend may indicate potential cash flow issues or delays in paying suppliers.
Overall, a stable payables turnover ratio for Conmed Corp. indicates efficient management of accounts payables and a healthy relationship with suppliers.
Peer comparison
Dec 31, 2023