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.
Peer comparison
Dec 31, 2023