CONMED Corporation (CNMD)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 834,222 | 745,545 | 785,435 | 709,038 | 710,467 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $834,222K)
= 0.00
The debt-to-capital ratio for Conmed Corp. has fluctuated over the past five years. In 2023, the ratio stands at 0.54, which indicates that 54% of the company's capital structure is funded by debt. This represents a decrease from the previous year's ratio of 0.59. The year 2021 saw a relatively lower ratio of 0.47, while the ratios for 2020 and 2019 were consistent at 0.52.
The downward trend from 2022 to 2023 suggests that Conmed Corp. may have reduced its reliance on debt funding compared to the prior year. However, the fluctuation in the ratio over the five-year period may indicate varying strategies in capital structure management by the company. It is essential for stakeholders to monitor this ratio closely to assess the company's leverage and financial risk levels.
Peer comparison
Dec 31, 2023