CONMED Corporation (CNMD)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,305,025	1,286,126	1,274,003	1,260,907	1,244,743	1,168,565	1,139,075	1,098,613	1,045,472	1,068,576	1,042,315	1,020,286	1,010,636	989,493	978,501	881,125	862,458	874,495	870,250	950,728
Total assets	US$ in thousands	2,306,250	2,315,740	2,285,620	2,309,260	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
Total asset turnover		0.57	0.56	0.56	0.55	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

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,305,025K ÷ $2,306,250K
= 0.57

CONMED Corporation's total asset turnover ratio has been relatively stable over the years, ranging from 0.46 to 0.57. The total asset turnover reflects how efficiently the company is utilizing its assets to generate sales revenue. A higher total asset turnover ratio indicates that the company is efficient in generating sales from its assets. In this case, CONMED Corporation's total asset turnover ratio has shown a gradual increase from 0.46 in December 31, 2022, to 0.57 in December 31, 2024. This improvement suggests that the company has been more effective in utilizing its assets to generate sales revenue. However, fluctuations in the total asset turnover ratio should be analyzed in conjunction with other performance indicators to provide a comprehensive assessment of the company's operational efficiency.