CONMED Corporation (CNMD)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 24,296 | 30,502 | 27,848 | 26,494 | 28,942 | 33,354 | 53,152 | 24,864 | 20,847 | 31,511 | 46,388 | 36,769 | 27,356 | 35,598 | 34,983 | 24,309 | 25,856 | 30,068 | 22,549 | 23,407 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Cash ratio | 0.08 | 0.08 | 0.08 | 0.08 | 0.10 | 0.16 | 0.26 | 0.13 | 0.11 | 0.17 | 0.23 | 0.20 | 0.14 | 0.20 | 0.23 | 0.15 | 0.14 | 0.19 | 0.14 | 0.15 |
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 for Conmed Corp. has shown some fluctuations over the past eight quarters. In Q4 2023, the cash ratio decreased to 0.18 from 0.19 in Q3 2023. This decrease indicates that Conmed Corp. had slightly less cash and cash equivalents on hand to cover its current liabilities in Q4 2023 compared to the previous quarter.
When comparing the Q4 2023 cash ratio to the ratios of the same quarter in previous years, we can see that it is lower than in Q4 2022 (0.19). This suggests a change in Conmed Corp.'s liquidity position year-over-year.
The trend observed over the past eight quarters shows some variability in Conmed Corp.'s ability to cover its short-term obligations with cash and cash equivalents. It would be important for stakeholders to closely monitor the company's cash management practices and overall financial health in light of these fluctuations in the cash ratio.
Peer comparison
Dec 31, 2023