CONMED Corporation (CNMD)

Debt-to-equity 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-equity ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $834,222K
= 0.00

The debt-to-equity ratio of Conmed Corp. has fluctuated over the past five years. In 2023, the ratio stands at 1.17, indicating that for every dollar of equity, the company has $1.17 in debt. This represents a decrease from the previous year's ratio of 1.41. Compared to 2021 when the ratio was 0.87, the current ratio suggests a higher reliance on debt to finance the company's operations.

The trend in the debt-to-equity ratio from 2020 to 2023 shows some variability, with the ratio peaking at 1.41 in 2022. While a higher ratio can imply greater financial risk due to increased debt obligations, it can also indicate aggressive growth strategies. Conversely, a lower ratio may signify a more conservative approach to capital structure.

Overall, a debt-to-equity ratio of 1.17 suggests that Conmed Corp. has a moderate level of leverage, with a balance between debt and equity financing. It is essential for stakeholders to monitor changes in this ratio to assess the company's financial health and risk profile accurately.