CONMED Corporation (CNMD)
Interest coverage
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 194,835 | 185,307 | 137,274 | 117,385 | 74,940 | 30,876 | 24,812 | -77,194 | -66,624 | -28,315 | -14,341 | 86,735 | 96,405 | 83,801 | 89,921 | 49,947 | 46,292 | 49,239 | 32,257 | 71,174 |
| Interest expense (ttm) | US$ in thousands | 37,296 | 37,944 | 38,711 | 39,115 | 39,776 | 39,714 | 38,231 | 34,162 | 28,905 | 27,031 | 26,640 | 30,132 | 35,485 | 39,030 | 42,828 | 44,809 | 44,050 | 43,255 | 42,486 | 42,924 |
| Interest coverage | 5.22 | 4.88 | 3.55 | 3.00 | 1.88 | 0.78 | 0.65 | -2.26 | -2.30 | -1.05 | -0.54 | 2.88 | 2.72 | 2.15 | 2.10 | 1.11 | 1.05 | 1.14 | 0.76 | 1.66 |
December 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $194,835K ÷ $37,296K
= 5.22
The interest coverage ratio for CONMED Corporation has shown fluctuating trends over the reporting periods provided. The interest coverage ratio is a measure of a company's ability to meet its interest obligations on outstanding debt. A higher interest coverage ratio indicates that the company is more capable of meeting its interest payments.
Based on the data provided:
- The interest coverage ratio declined from June 2020 to December 2020, indicating potential challenges in meeting interest payments during this period.
- However, from March 2021 onwards, the interest coverage ratio showed improvement, consistently increasing through December 2024.
- The ratios for the later periods (March 2023, June 2023, September 2023) were negative, indicating that the company's operating income was insufficient to cover its interest expenses during those quarters.
- The interest coverage ratio improved significantly in the following periods, reaching a peak of 5.22 by December 31, 2024, suggesting enhanced financial stability and the company's strong ability to cover interest payments.
Overall, the trend in CONMED Corporation's interest coverage ratio reflects fluctuations in the company's ability to cover its interest obligations, with a significant improvement in recent periods, implying a more favorable financial position.
Peer comparison
Dec 31, 2024