CONMED Corporation (CNMD)

Operating return on assets (Operating ROA)

		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
Total assets	US$ in thousands	2,300,020	2,297,590	1,766,020	1,751,670	1,775,100
Operating ROA		5.24%	3.05%	6.21%	2.63%	4.46%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $120,603K ÷ $2,300,020K
= 5.24%

The operating return on assets (operating ROA) for Conmed Corp. has varied over the past five years, ranging from 2.63% in 2020 to 6.21% in 2021. In 2023, the operating ROA stood at 5.24%, showing an improvement compared to the previous year. This indicates that the company generated $0.0524 in operating income for every dollar of assets utilized in 2023.

The fluctuation in operating ROA suggests changes in the company's operational efficiency and profitability over the years. A higher operating ROA signifies that the company is effectively utilizing its assets to generate operating income, while a lower figure may indicate operational challenges or inefficiencies.

Overall, Conmed Corp.'s operating ROA trend shows some volatility, but the recent improvement in 2023 is a positive sign for the company's operational performance and asset utilization.