CONMED Corporation (CNMD)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	2,300,020	2,325,680	2,322,720	2,320,120	2,297,590	2,292,040	2,072,260	1,785,720	1,766,020	1,754,090	1,761,970	1,746,610	1,751,670	1,743,130	1,723,910	1,750,970	1,775,100	1,758,420	1,759,400	1,760,840
Total stockholders’ equity	US$ in thousands	834,222	796,205	780,194	752,453	745,545	716,337	672,968	789,546	785,435	755,683	744,499	725,570	709,038	683,141	674,898	701,635	710,467	700,922	697,009	693,057
Financial leverage ratio		2.76	2.92	2.98	3.08	3.08	3.20	3.08	2.26	2.25	2.32	2.37	2.41	2.47	2.55	2.55	2.50	2.50	2.51	2.52	2.54

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,300,020K ÷ $834,222K
= 2.76

The financial leverage ratio of Conmed Corp. has been fluctuating over the past eight quarters. It decreased from 3.20 in Q3 2022 to 2.26 in Q1 2022 which indicates a reduction in leverage during that period. Subsequently, the ratio increased steadily to 3.08 in Q4 2022 and remained constant in Q1 2023. However, in the latest quarter, Q4 2023, the financial leverage ratio increased to 2.76.

This trend suggests that Conmed Corp. has been managing its debt levels effectively in the past few quarters but experienced a slight increase in leverage in the most recent period. A financial leverage ratio above 1 indicates that the company relies more on debt financing than equity, and a higher ratio signifies higher financial risk. Thus, a decreasing trend in the leverage ratio is generally seen as positive, while an increasing trend may indicate potential concerns about the company's debt levels and financial risk.