CONMED Corporation (CNMD)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,307,020 | 1,244,740 | 1,045,470 | 1,010,640 | 862,459 |
| Total assets | US$ in thousands | 2,306,250 | 2,300,020 | 2,297,590 | 1,766,020 | 1,751,670 |
| Total asset turnover | 0.57 | 0.54 | 0.46 | 0.57 | 0.49 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,307,020K ÷ $2,306,250K
= 0.57
CONMED Corporation's total asset turnover ratio has shown some fluctuation over the past five years. It increased from 0.49 in December 31, 2020, to 0.57 in December 31, 2021, indicating that the company generated more revenue for each dollar of assets during that period. However, it then declined to 0.46 by December 31, 2022, suggesting a decrease in efficiency in utilizing its assets to generate revenue.
The ratio improved in the following years, reaching 0.54 by December 31, 2023, and maintaining the same level at 0.57 by December 31, 2024. This indicates that the company managed to enhance its asset utilization efficiency after the initial decline.
Overall, CONMED Corporation's total asset turnover ratio indicates some variability but generally demonstrates an ability to generate revenue relative to its asset base, with some room for improvement in asset management efficiency.
Peer comparison
Dec 31, 2024