CONMED Corporation (CNMD)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,244,740 | 1,045,470 | 1,010,640 | 862,459 | 955,097 |
| Receivables | US$ in thousands | 242,279 | 191,345 | 183,882 | 177,152 | 189,097 |
| Receivables turnover | 5.14 | 5.46 | 5.50 | 4.87 | 5.05 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,244,740K ÷ $242,279K
= 5.14
The receivables turnover ratio for Conmed Corp. has shown some fluctuations over the past five years. In 2023, the company's receivables turnover ratio was 5.14, indicating that the company collected its accounts receivable approximately 5.14 times during the year. This was a decrease from the previous year when the ratio was 5.46.
Although the ratio decreased in 2023, it remained relatively consistent compared to the ratios in 2021 and 2019, which were 5.50 and 5.05, respectively. In 2020, the receivables turnover ratio dropped to 4.87, suggesting that the company took longer to collect its receivables that year.
Overall, Conmed Corp. has shown a moderate ability to efficiently convert its accounts receivable into cash over the past five years, with the ratio typically ranging between 4.87 and 5.50. This consistency in the range of the receivables turnover ratio indicates that the company has been effectively managing its accounts receivable collections, albeit with slight variations from year to year.
Peer comparison
Dec 31, 2023