CONMED Corporation (CNMD)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 2,300,020 | 2,297,590 | 1,766,020 | 1,751,670 | 1,775,100 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $2,300,020K
= 0.00
Conmed Corp.'s debt-to-assets ratio has been relatively consistent over the past five years, ranging from 0.39 to 0.46. A decreasing trend can be observed from 2022 to 2021, where the ratio decreased from 0.46 to 0.39, indicating a lower reliance on debt to finance its assets. However, there was a slight increase in 2023 to 0.42.
With a debt-to-assets ratio of around 0.4 to 0.5, Conmed Corp. appears to maintain a moderate level of leverage, indicating that a significant portion of its assets are financed by debt. This level of leverage suggests a balance between utilizing debt for growth and managing financial risk. Overall, the company's debt-to-assets ratio demonstrates a stable financial position over the years analyzed.
Peer comparison
Dec 31, 2023