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.