CONMED CORP (CNMD) Stock Fundamental Analysis
NYSE:CNMD - New York Stock Exchange, Inc. - US2074101013 - Common Stock - Currency: USD
Overall CNMD gets a fundamental rating of 6 out of 10. We evaluated CNMD against 187 industry peers in the Health Care Equipment & Supplies industry. CNMD has an excellent profitability rating, but there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on CNMD. This makes CNMD very considerable for value investing!
1. Profitability
1.1 Basic Checks
In the past year CNMD was profitable.
CNMD had a positive operating cash flow in the past year.
Of the past 5 years CNMD 4 years were profitable.
CNMD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 5.17%, CNMD belongs to the best of the industry, outperforming 85.03% of the companies in the same industry.
CNMD's Return On Equity of 12.15% is amongst the best of the industry. CNMD outperforms 88.77% of its industry peers.
The Return On Invested Capital of CNMD (7.67%) is better than 85.56% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 7.89%.
The last Return On Invested Capital (7.67%) for CNMD is above the 3 year average (5.34%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.17% | ||
| ROE | 12.15% | ||
| ROIC | 7.67% |
ROA(3y)1.68%
ROA(5y)1.82%
ROE(3y)3.56%
ROE(5y)3.99%
ROIC(3y)5.34%
ROIC(5y)4.97%
1.3 Margins
CNMD's Profit Margin of 9.02% is amongst the best of the industry. CNMD outperforms 83.42% of its industry peers.
In the last couple of years the Profit Margin of CNMD has grown nicely.
Looking at the Operating Margin, with a value of 14.58%, CNMD belongs to the top of the industry, outperforming 85.03% of the companies in the same industry.
In the last couple of years the Operating Margin of CNMD has grown nicely.
Looking at the Gross Margin, with a value of 56.14%, CNMD is in line with its industry, outperforming 54.55% of the companies in the same industry.
In the last couple of years the Gross Margin of CNMD has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.58% | ||
| PM (TTM) | 9.02% | ||
| GM | 56.14% |
OM growth 3Y13.68%
OM growth 5Y9.55%
PM growth 3Y17.89%
PM growth 5Y27.61%
GM growth 3Y-0.07%
GM growth 5Y0.25%
2. Health
2.1 Basic Checks
CNMD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, CNMD has more shares outstanding
Compared to 5 years ago, CNMD has more shares outstanding
The debt/assets ratio for CNMD has been reduced compared to a year ago.
2.2 Solvency
CNMD has an Altman-Z score of 2.13. This is not the best score and indicates that CNMD is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.13, CNMD is doing good in the industry, outperforming 60.43% of the companies in the same industry.
The Debt to FCF ratio of CNMD is 5.42, which is a neutral value as it means it would take CNMD, 5.42 years of fcf income to pay off all of its debts.
CNMD's Debt to FCF ratio of 5.42 is amongst the best of the industry. CNMD outperforms 81.28% of its industry peers.
A Debt/Equity ratio of 0.91 indicates that CNMD is somewhat dependend on debt financing.
CNMD has a Debt to Equity ratio of 0.91. This is in the lower half of the industry: CNMD underperforms 76.47% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | 5.42 | ||
| Altman-Z | 2.13 |
ROIC/WACC0.99
WACC7.73%
2.3 Liquidity
A Current Ratio of 2.26 indicates that CNMD has no problem at all paying its short term obligations.
The Current ratio of CNMD (2.26) is comparable to the rest of the industry.
CNMD has a Quick Ratio of 1.00. This is a normal value and indicates that CNMD is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of CNMD (1.00) is worse than 75.94% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.26 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
CNMD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.67%, which is quite impressive.
CNMD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.44% yearly.
The Revenue has been growing slightly by 4.31% in the past year.
The Revenue has been growing slightly by 6.47% on average over the past years.
EPS 1Y (TTM)20.67%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%20.25%
Revenue 1Y (TTM)4.31%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%2.88%
3.2 Future
Based on estimates for the next years, CNMD will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.82% on average per year.
The Revenue is expected to grow by 5.36% on average over the next years.
EPS Next Y8.09%
EPS Next 2Y7.74%
EPS Next 3Y8.82%
EPS Next 5YN/A
Revenue Next Year4.59%
Revenue Next 2Y5.1%
Revenue Next 3Y5.36%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
CNMD is valuated correctly with a Price/Earnings ratio of 12.40.
90.37% of the companies in the same industry are more expensive than CNMD, based on the Price/Earnings ratio.
CNMD is valuated cheaply when we compare the Price/Earnings ratio to 26.32, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 11.09 indicates a reasonable valuation of CNMD.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 89.84% of the companies listed in the same industry.
CNMD is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.13, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.4 | ||
| Fwd PE | 11.09 |
4.2 Price Multiples
CNMD's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CNMD is cheaper than 91.44% of the companies in the same industry.
CNMD's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CNMD is cheaper than 96.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.07 | ||
| EV/EBITDA | 9.52 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of CNMD may justify a higher PE ratio.
PEG (NY)1.53
PEG (5Y)1.31
EPS Next 2Y7.74%
EPS Next 3Y8.82%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.46%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 1.79, CNMD pays a better dividend. On top of this CNMD pays more dividend than 95.72% of the companies listed in the same industry.
CNMD's Dividend Yield is slightly below the S&P500 average, which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.46% |
5.2 History
The dividend of CNMD decreases each year by -0.01%.
CNMD has paid a dividend for at least 10 years, which is a reliable track record.
CNMD has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-0.01%
Div Incr Years0
Div Non Decr Years12
5.3 Sustainability
CNMD pays out 20.78% of its income as dividend. This is a sustainable payout ratio.
DP20.78%
EPS Next 2Y7.74%
EPS Next 3Y8.82%
53.55
-1.42 (-2.58%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners117.42%
Inst Owner Change-0.08%
Ins Owners0.28%
Ins Owner Change-0.04%
Market Cap1.66B
Analysts75
Price Target68.54 (27.99%)
Short Float %8.56%
Short Ratio5.55
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.46% |
Yearly Dividend0.8
Dividend Growth(5Y)-0.01%
DP20.78%
Div Incr Years0
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.01%
Min EPS beat(2)9.23%
Max EPS beat(2)14.78%
EPS beat(4)4
Avg EPS beat(4)8.28%
Min EPS beat(4)3.6%
Max EPS beat(4)14.78%
EPS beat(8)7
Avg EPS beat(8)5.05%
EPS beat(12)9
Avg EPS beat(12)-0.48%
EPS beat(16)13
Avg EPS beat(16)1.51%
Revenue beat(2)1
Avg Revenue beat(2)-0.02%
Min Revenue beat(2)-0.54%
Max Revenue beat(2)0.51%
Revenue beat(4)1
Avg Revenue beat(4)-1.12%
Min Revenue beat(4)-2.4%
Max Revenue beat(4)0.51%
Revenue beat(8)2
Avg Revenue beat(8)-0.9%
Revenue beat(12)3
Avg Revenue beat(12)-1.84%
Revenue beat(16)5
Avg Revenue beat(16)-1.73%
PT rev (1m)3.12%
PT rev (3m)-14.39%
EPS NQ rev (1m)0.68%
EPS NQ rev (3m)8.67%
EPS NY rev (1m)0%
EPS NY rev (3m)1.65%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)-2.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.4 | ||
| Fwd PE | 11.09 | ||
| P/S | 1.26 | ||
| P/FCF | 10.07 | ||
| P/OCF | 9.24 | ||
| P/B | 1.69 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.52 |
EPS(TTM)4.32
EY8.07%
EPS(NY)4.83
Fwd EY9.02%
FCF(TTM)5.32
FCFY9.93%
OCF(TTM)5.8
OCFY10.83%
SpS42.53
BVpS31.6
TBVpS-14.15
PEG (NY)1.53
PEG (5Y)1.31
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.17% | ||
| ROE | 12.15% | ||
| ROCE | 9.52% | ||
| ROIC | 7.67% | ||
| ROICexc | 7.8% | ||
| ROICexgc | 27.41% | ||
| OM | 14.58% | ||
| PM (TTM) | 9.02% | ||
| GM | 56.14% | ||
| FCFM | 12.5% |
ROA(3y)1.68%
ROA(5y)1.82%
ROE(3y)3.56%
ROE(5y)3.99%
ROIC(3y)5.34%
ROIC(5y)4.97%
ROICexc(3y)5.41%
ROICexc(5y)5.04%
ROICexgc(3y)20.03%
ROICexgc(5y)18.26%
ROCE(3y)6.64%
ROCE(5y)6.18%
ROICexcg growth 3Y14.62%
ROICexcg growth 5Y8.81%
ROICexc growth 3Y13.67%
ROICexc growth 5Y10.96%
OM growth 3Y13.68%
OM growth 5Y9.55%
PM growth 3Y17.89%
PM growth 5Y27.61%
GM growth 3Y-0.07%
GM growth 5Y0.25%
F-Score8
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.91 | ||
| Debt/FCF | 5.42 | ||
| Debt/EBITDA | 3.38 | ||
| Cap/Depr | 20.57% | ||
| Cap/Sales | 1.13% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 67.96% | ||
| Profit Quality | 138.57% | ||
| Current Ratio | 2.26 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 2.13 |
F-Score8
WACC7.73%
ROIC/WACC0.99
Cap/Depr(3y)25.34%
Cap/Depr(5y)23%
Cap/Sales(3y)1.54%
Cap/Sales(5y)1.52%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20.67%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%20.25%
EPS Next Y8.09%
EPS Next 2Y7.74%
EPS Next 3Y8.82%
EPS Next 5YN/A
Revenue 1Y (TTM)4.31%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%2.88%
Revenue Next Year4.59%
Revenue Next 2Y5.1%
Revenue Next 3Y5.36%
Revenue Next 5YN/A
EBIT growth 1Y28.49%
EBIT growth 3Y23.86%
EBIT growth 5Y16.64%
EBIT Next Year41.12%
EBIT Next 3Y17.55%
EBIT Next 5YN/A
FCF growth 1Y2284.83%
FCF growth 3Y16.67%
FCF growth 5Y15.46%
OCF growth 1Y512.22%
OCF growth 3Y14.3%
OCF growth 5Y11.92%