CONMED Corporation (CNMD)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	120,604	69,322	63,270	60,310	70,055	108,366	110,829	112,078	109,716	97,201	99,872	52,919	46,009	49,188	40,745	80,649	79,114	77,057	67,640	65,664
Total assets	US$ in thousands	2,300,020	2,325,680	2,322,720	2,320,120	2,297,590	2,292,040	2,072,260	1,785,720	1,766,020	1,754,090	1,761,970	1,746,610	1,751,670	1,743,130	1,723,910	1,750,970	1,775,100	1,758,420	1,759,400	1,760,840
Operating ROA		5.24%	2.98%	2.72%	2.60%	3.05%	4.73%	5.35%	6.28%	6.21%	5.54%	5.67%	3.03%	2.63%	2.82%	2.36%	4.61%	4.46%	4.38%	3.84%	3.73%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $120,604K ÷ $2,300,020K
= 5.24%

Operating Return on Assets (Operating ROA) is a key financial metric that indicates how efficient a company is at generating operating profit from its assets. Conmed Corp.'s Operating ROA fluctuated over the past eight quarters, averaging around 4.34% during this period.

In the most recent quarter, Q4 2023, Conmed Corp. recorded an Operating ROA of 5.24%, which represents an improvement compared to the previous quarter. This increase suggests that the company has been able to generate a higher operating profit relative to its assets in Q4 2023.

However, the Operating ROA in Q4 2023 is still lower than the highest value achieved in Q2 2022, when it reached 6.28%. This indicates that Conmed Corp. has experienced fluctuations in its efficiency in utilizing its assets to generate operating income over the observed quarters.

Overall, while Conmed Corp.'s Operating ROA has shown variability, it is essential for the company to consistently monitor and improve this metric to ensure optimal utilization of its assets and sustainable profitability in the long term.