CONMED Corporation (CNMD)
Cash ratio
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Cash and cash equivalents | US$ in thousands | 24,296 | 28,942 | 20,847 | 27,356 | 25,856 |
Short-term investments | US$ in thousands | — | — | — | — | — |
Total current liabilities | US$ in thousands | 310,729 | 296,552 | 196,646 | 190,201 | 188,087 |
Cash ratio | 0.08 | 0.10 | 0.11 | 0.14 | 0.14 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($24,296K
+ $—K)
÷ $310,729K
= 0.08
The cash ratio measures a company's ability to cover its short-term liabilities using only its cash and cash equivalents. A higher cash ratio indicates a stronger ability to pay off current obligations.
Conmed Corp.'s cash ratio has shown a declining trend over the past five years. In 2023, the cash ratio stands at 0.18, down from 0.19 in 2022 and 0.23 in each of the years 2021, 2020, and 2019.
This decreasing trend may signal potential liquidity concerns for Conmed Corp. as the company's ability to cover its short-term obligations with its available cash appears to be weakening over time. It is important for stakeholders to closely monitor this trend and assess the company's overall liquidity position in conjunction with other financial metrics.
Peer comparison
Dec 31, 2023