CONMED Corporation (CNMD)
Working capital 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 current assets | US$ in thousands | 615,649 | 625,649 | 615,522 | 610,088 | 581,226 | 574,243 | 577,188 | 488,300 | 460,123 | 443,405 | 443,180 | 424,369 | 416,654 | 404,228 | 378,713 | 393,167 | 397,363 | 399,023 | 397,277 | 390,709 |
| Total current liabilities | US$ in thousands | 310,729 | 376,319 | 353,169 | 320,686 | 296,552 | 208,579 | 201,093 | 187,597 | 196,646 | 183,192 | 198,458 | 182,155 | 190,201 | 179,039 | 150,612 | 160,004 | 188,087 | 160,665 | 155,801 | 151,271 |
| Working capital turnover | 4.08 | 4.69 | 4.34 | 3.80 | 3.67 | 2.92 | 2.77 | 3.39 | 3.84 | 3.80 | 4.00 | 3.64 | 3.81 | 3.88 | 3.82 | 4.08 | 4.56 | 3.91 | 3.73 | 3.66 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,244,743K ÷ ($615,649K – $310,729K)
= 4.08
The working capital turnover ratio for Conmed Corp. has seen fluctuations over the past eight quarters. The working capital turnover ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.
In Q4 2023, the working capital turnover ratio was 4.08, showing a slight decrease from the previous quarter. This ratio suggests that Conmed Corp. generated $4.08 in sales for every dollar of working capital invested during that quarter.
Overall, the trend in working capital turnover has been positive, with an increasing trend from Q1 2022 to Q3 2023, indicating that the company has been improving its efficiency in managing working capital. However, the slight decline in Q4 2023 may suggest a temporary fluctuation or a change in the company's working capital management strategy.
It is important for Conmed Corp. to continue monitoring and analyzing its working capital turnover ratio to ensure optimal utilization of its resources and to maintain efficient operations.
Peer comparison
Dec 31, 2023