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.
Peer comparison
Dec 31, 2023