CONMED Corporation (CNMD)

Quick 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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	242,279	230,196	229,256	213,182	191,345	197,287	202,119	183,248	183,882	165,433	168,966	163,954	177,152	166,593	143,412	166,504	189,097	173,282	179,039	172,195
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
Quick ratio		0.86	0.69	0.73	0.75	0.74	1.11	1.27	1.11	1.04	1.08	1.09	1.10	1.08	1.13	1.18	1.19	1.14	1.27	1.29	1.29

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 past eight quarters. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations using its most liquid assets.

In the most recent quarter, Q4 2023, the quick ratio stands at 0.96, a slight improvement from the previous quarter but still below the ideal value of 1. This suggests that Conmed Corp. may be moderately equipped to cover its current liabilities with its quick assets.

Looking back over the last few quarters, the quick ratio has ranged from a low of 0.80 in Q3 2023 to a high of 1.43 in Q3 2022. This variability could indicate fluctuations in the company's ability to quickly cover its short-term obligations.

Further analysis would be needed to understand the reasons behind these fluctuations in the quick ratio and to assess the overall liquidity position of Conmed Corp. It is important to consider other financial ratios and qualitative factors to gain a comprehensive understanding of the company's financial health.