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.
Peer comparison
Dec 31, 2023