CONMED Corporation (CNMD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 676,245 | 571,245 | 568,036 | 460,300 | 524,715 |
| Revenue | US$ in thousands | 1,244,740 | 1,045,470 | 1,010,640 | 862,459 | 955,097 |
| Gross profit margin | 54.33% | 54.64% | 56.21% | 53.37% | 54.94% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $676,245K ÷ $1,244,740K
= 54.33%
Conmed Corp.'s gross profit margin has shown some fluctuations over the past five years. In 2023, the gross profit margin decreased to 54.33% from 54.64% in 2022. This downward trend contrasts with the increase observed from 2020 to 2021, where the margin rose from 53.37% to 56.21%. However, when compared to 2019, the current margin is slightly lower as it was 54.94% at that time. These variations suggest that Conmed Corp. may have experienced changes in its cost of goods sold or pricing strategies impacting its ability to generate profit from its sales revenue. Further analysis of the company's cost structure and pricing policies could provide insights into these fluctuations.
Peer comparison
Dec 31, 2023