CONMED Corporation (CNMD)
Total asset 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,244,743 | 1,168,565 | 1,139,075 | 1,098,613 | 1,045,472 | 1,068,575 | 1,042,314 | 1,020,285 | 1,010,635 | 989,493 | 978,501 | 881,125 | 862,458 | 874,495 | 870,250 | 950,728 | 955,096 | 932,675 | 901,392 | 875,949 |
| Total assets | US$ in thousands | 2,300,020 | 2,325,680 | 2,322,720 | 2,320,120 | 2,297,590 | 2,292,040 | 2,072,260 | 1,785,720 | 1,766,020 | 1,754,090 | 1,761,970 | 1,746,610 | 1,751,670 | 1,743,130 | 1,723,910 | 1,750,970 | 1,775,100 | 1,758,420 | 1,759,400 | 1,760,840 |
| Total asset turnover | 0.54 | 0.50 | 0.49 | 0.47 | 0.46 | 0.47 | 0.50 | 0.57 | 0.57 | 0.56 | 0.56 | 0.50 | 0.49 | 0.50 | 0.50 | 0.54 | 0.54 | 0.53 | 0.51 | 0.50 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,244,743K ÷ $2,300,020K
= 0.54
Conmed Corp.'s total asset turnover has been fluctuating over the past eight quarters. The ratio indicates how efficiently the company generates revenue from its total assets. A higher total asset turnover ratio generally implies better asset utilization.
In Q4 2023, the total asset turnover ratio was 0.54, which was higher compared to the previous quarter Q3 2023 (0.50). This uptick suggests that Conmed Corp. was able to generate more revenue relative to its total assets in Q4 2023.
Looking further back, the ratio has shown some variability. In Q1 2023, Q2 2023, and Q3 2023, the total asset turnover ratios were relatively stable, ranging from 0.47 to 0.50. This indicates consistent performance in utilizing assets to generate revenue during that period.
Comparing these recent quarters to the same quarters in the previous year, there seems to have been some improvement in asset turnover. In Q4 2022, the ratio was lower at 0.46, showing that Conmed Corp. improved its asset utilization over the course of a year.
Overall, the trend in total asset turnover for Conmed Corp. indicates some variability but shows signs of improvement in efficiently using its assets to generate revenue, particularly in the most recent quarter.
Peer comparison
Dec 31, 2023