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.