CONMED Corporation (CNMD)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	120,603	70,054	109,717	46,010	79,114
Revenue	US$ in thousands	1,244,740	1,045,470	1,010,640	862,459	955,097
Operating profit margin		9.69%	6.70%	10.86%	5.33%	8.28%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $120,603K ÷ $1,244,740K
= 9.69%

Conmed Corp.'s operating profit margin has fluctuated over the past five years. In 2023, the operating profit margin improved to 9.69% compared to 6.70% in 2022. This indicates that the company was able to generate more profit from its core business operations in 2023. However, the operating profit margin in 2023 was still lower than the 10.86% reported in 2021. Additionally, the operating profit margin in 2023 was higher than the levels reported in 2020 (5.33%) and 2019 (8.28%). Overall, while there has been variability in Conmed Corp.'s operating profit margin, the company has shown some improvement in generating operating profits relative to prior years.