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.
Peer comparison
Dec 31, 2023