CONMED Corporation (CNMD)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 1.98 | 1.66 | 1.74 | 1.90 | 1.96 | 2.75 | 2.87 | 2.60 | 2.34 | 2.42 | 2.23 | 2.33 | 2.19 | 2.26 | 2.51 | 2.46 | 2.11 | 2.48 | 2.55 | 2.58 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $615,649K ÷ $310,729K
= 1.98
The current ratio measures a company's ability to pay its short-term obligations using its current assets. A higher current ratio indicates a stronger liquidity position.
Looking at the data provided for Conmed Corp.'s current ratio over the past eight quarters, we can see fluctuations in the ratio. In Q4 2023, the current ratio stood at 1.98, which indicates that the company had $1.98 in current assets for every dollar of current liabilities. This was an improvement from the previous quarter (Q3 2023) when the ratio was 1.66.
Comparing Q4 2023 to Q4 2022, we see a slight decrease in the current ratio from 1.96 to 1.98. However, it's worth noting that the current ratio has been on a decreasing trend since Q2 2022, where it was at its peak of 2.87. This could indicate a potential liquidity concern as the company may be less able to cover its short-term liabilities with its current assets compared to previous periods.
Further analysis would be needed to understand the reasons behind these fluctuations in the current ratio and whether they pose any significant risks to the company's financial health.
Peer comparison
Dec 31, 2023