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.