CONMED Corporation (CNMD)

Working capital 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 current assets	US$ in thousands	640,007	615,649	581,226	460,123	416,654
Total current liabilities	US$ in thousands	278,130	310,729	296,552	196,646	190,201
Working capital turnover		3.61	4.08	3.67	3.84	3.81

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,307,020K ÷ ($640,007K – $278,130K)
= 3.61

The working capital turnover for CONMED Corporation has shown some fluctuations over the past five years. Starting at 3.81 in December 31, 2020, it increased to 3.84 by December 31, 2021. However, there was a slight decline to 3.67 by the end of 2022. Subsequently, there was a notable improvement to 4.08 by December 31, 2023, indicating that the company is utilizing its working capital more efficiently. Nevertheless, by the end of 2024, the working capital turnover dropped to 3.61. Overall, CONMED Corporation has been able to effectively manage its working capital to support its operations, with a general trend of stability and improvement over the years.