CONMED Corporation (CNMD)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 80,829 | 29,608 | 25,039 | -85,863 | -70,861 | -30,675 | -28,948 | 80,820 | 73,105 | 56,955 | 56,866 | 7,843 | 1,603 | 5,344 | -2,562 | 36,672 | 31,224 | 34,279 | 31,143 | 36,236 |
| Revenue (ttm) | US$ in thousands | 1,244,743 | 1,168,565 | 1,139,075 | 1,098,613 | 1,045,472 | 1,068,575 | 1,042,314 | 1,020,285 | 1,010,635 | 989,493 | 978,501 | 881,125 | 862,458 | 874,495 | 870,250 | 950,728 | 955,096 | 932,675 | 901,392 | 875,949 |
| Pretax margin | 6.49% | 2.53% | 2.20% | -7.82% | -6.78% | -2.87% | -2.78% | 7.92% | 7.23% | 5.76% | 5.81% | 0.89% | 0.19% | 0.61% | -0.29% | 3.86% | 3.27% | 3.68% | 3.45% | 4.14% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $80,829K ÷ $1,244,743K
= 6.49%
Conmed Corp.'s pretax margin has varied significantly over the past eight quarters. In Q4 2023, the pretax margin improved to 6.49%, representing a notable increase from the previous quarter's 2.53%. However, in Q1 2023, the company reported a negative pretax margin of -7.82%, indicating a loss before taxes. This negative trend was also observed in Q4 2022, where the pretax margin was -6.78%.
On the positive side, there were periods of profitability, such as in Q1 2022 when the pretax margin reached 7.92%. Overall, Conmed Corp.'s pretax margin has shown volatility and inconsistency, suggesting fluctuations in its operating efficiency and profitability over the past two years. Further analysis is needed to understand the factors driving these fluctuations and to assess the company's ability to maintain sustainable profitability in the future.
Peer comparison
Dec 31, 2023