CONMED Corporation (CNMD)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	64,459	-80,582	62,542	9,517	28,620
Total assets	US$ in thousands	2,300,020	2,297,590	1,766,020	1,751,670	1,775,100
ROA		2.80%	-3.51%	3.54%	0.54%	1.61%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $64,459K ÷ $2,300,020K
= 2.80%

Conmed Corp.'s return on assets (ROA) has varied over the past five years. In 2023, the company's ROA stood at 2.80%, showing an improvement compared to the negative ROA of -3.51% in 2022. This indicates that Conmed Corp. was able to generate a higher level of profit relative to its total assets in 2023.

Looking further back, the ROA was 3.54% in 2021, a significant increase from the 0.54% recorded in 2020. This improvement suggests that the company became more efficient in utilizing its assets to generate profits during that year.

In 2019, the ROA was 1.61%, indicating a relatively stable performance compared to the following years. Overall, the trend in ROA for Conmed Corp. shows fluctuations, with notable improvements in 2021 and 2023, but also periods of negative returns in 2022.

Analyzing ROA provides insights into the company's ability to generate profits from its assets and can be used by investors and analysts to assess the efficiency and profitability of Conmed Corp. over time.