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.