CONMED Corporation (CNMD)

Liquidity ratios

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Current ratio 2.30 2.27 2.34 2.18 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
Quick ratio 0.09 0.14 0.11 0.12 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
Cash ratio 0.09 0.14 0.11 0.12 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

CONMED Corporation's liquidity ratios provide insight into its ability to meet short-term obligations. The current ratio has shown fluctuation over the years, with a general trend of staying above 2. This indicates that CONMED has more than enough current assets to cover its current liabilities, providing a comfortable buffer for short-term obligations.

In contrast, the quick ratio, which excludes inventory from current assets, shows a more conservative picture of liquidity. It has generally been below 1, indicating that CONMED may have difficulty meeting its short-term obligations if it cannot rely on selling inventory quickly.

Lastly, the cash ratio, which is the most stringent measure of liquidity, has also been consistently low, indicating a limited ability to cover current liabilities solely with cash on hand.

Overall, CONMED Corporation has maintained a healthy current ratio but shows some weakness in its quick and cash ratios, suggesting a potential need to manage inventory levels and increase cash reserves to improve its short-term liquidity position.


Additional liquidity measure

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cash conversion cycle days 213.57 212.76 200.62 204.29 205.15 219.16 225.59 240.95 255.78 235.05 231.70 208.25 191.03 188.84 175.54 182.53 176.86 163.52 157.55 148.74

The cash conversion cycle of CONMED Corporation shows a fluctuating trend over the period from March 31, 2020, to December 31, 2024. The cycle started at 148.74 days in March 2020 and experienced a gradual increase, peaking at 255.78 days in December 2022.

Subsequently, there was a decreasing trend in the cash conversion cycle, reaching 200.62 days in June 2024. This downward trend continued with a slight increase to 213.57 days by December 2024. Overall, the company's cash conversion cycle has shown volatility over time, indicating varying efficiencies in managing its cash, inventory, and receivables.

A longer cash conversion cycle suggests that the company takes more time to convert its investments in inventory and accounts receivable into cash. Conversely, a shorter cycle indicates a more efficient working capital management. CONMED Corporation may need to focus on optimizing its working capital processes to reduce the cycle duration and improve cash flow efficiency.