CONMED Corporation (CNMD)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 24,296 | 28,942 | 20,847 | 27,356 | 25,856 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 242,279 | 191,345 | 183,882 | 177,152 | 189,097 |
| Total current liabilities | US$ in thousands | 310,729 | 296,552 | 196,646 | 190,201 | 188,087 |
| Quick ratio | 0.86 | 0.74 | 1.04 | 1.08 | 1.14 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($24,296K
+ $—K
+ $242,279K)
÷ $310,729K
= 0.86
The quick ratio of Conmed Corp. has shown fluctuations over the last five years. In 2023, the quick ratio stands at 0.96, which indicates that the company has $0.96 in liquid assets available to cover each dollar of current liabilities. This suggests that in the short term, Conmed may face some challenges in meeting its current obligations based on its current quick assets.
Comparing this to the previous years, we see a decreasing trend from the high of 1.24 in 2019 to the current level. The decline in the quick ratio may raise concerns about the company's liquidity position and its ability to cover short-term liabilities efficiently. However, it is important to note that a quick ratio of 0.96 still suggests that Conmed has a reasonable level of liquidity to meet its upcoming financial obligations.
Further analysis and consideration of other liquidity ratios, as well as an assessment of the company's operating cash flows and working capital management, would provide a more comprehensive understanding of Conmed's overall liquidity position.
Peer comparison
Dec 31, 2023