CONMED CORP (CNMD) Stock Fundamental Analysis
USA - NYSE:CNMD - US2074101013 - Common Stock
50 USD
-0.01 (-0.02%)
50 USD
0 (0%)
CNMD gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 190 industry peers in the Health Care Equipment & Supplies industry. CNMD scores excellent on profitability, but there are some minor concerns on its financial health. CNMD is valued quite cheap, while showing a decent growth score. This is a good combination! This makes CNMD very considerable for value investing!
1. Profitability
1.1 Basic Checks
CNMD had positive earnings in the past year.
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
CNMD's Return On Assets of 4.73% is amongst the best of the industry. CNMD outperforms 81.58% of its industry peers.
CNMD has a better Return On Equity (10.99%) than 86.32% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.55%, CNMD belongs to the top of the industry, outperforming 83.68% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CNMD is below the industry average of 8.43%.
The last Return On Invested Capital (7.55%) for CNMD is above the 3 year average (5.34%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.73% | ||
| ROE | 10.99% | ||
| ROIC | 7.55% |
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 has a Profit Margin of 8.31%. This is amongst the best in the industry. CNMD outperforms 80.53% of its industry peers.
In the last couple of years the Profit Margin of CNMD has grown nicely.
With an excellent Operating Margin value of 14.38%, CNMD belongs to the best of the industry, outperforming 83.16% of the companies in the same industry.
In the last couple of years the Operating Margin of CNMD has grown nicely.
The Gross Margin of CNMD (56.05%) is comparable to the rest of the industry.
CNMD's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.38% | ||
| PM (TTM) | 8.31% | ||
| GM | 56.05% |
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 just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for CNMD has been increased compared to 1 year ago.
The number of shares outstanding for CNMD has been increased compared to 5 years ago.
Compared to 1 year ago, CNMD has an improved debt to assets ratio.
2.2 Solvency
CNMD has an Altman-Z score of 2.07. 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.
CNMD's Altman-Z score of 2.07 is fine compared to the rest of the industry. CNMD outperforms 62.63% of its industry peers.
CNMD has a debt to FCF ratio of 5.95. This is a neutral value as CNMD would need 5.95 years to pay back of all of its debts.
CNMD has a Debt to FCF ratio of 5.95. This is in the better half of the industry: CNMD outperforms 78.95% of its industry peers.
A Debt/Equity ratio of 0.88 indicates that CNMD is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.88, CNMD is doing worse than 76.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 5.95 | ||
| Altman-Z | 2.07 |
ROIC/WACC1.16
WACC6.52%
2.3 Liquidity
A Current Ratio of 2.23 indicates that CNMD has no problem at all paying its short term obligations.
The Current ratio of CNMD (2.23) 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.
CNMD has a worse Quick ratio (1.00) than 75.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.23 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 20.38% over the past year.
CNMD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.44% yearly.
CNMD shows a small growth in Revenue. In the last year, the Revenue has grown by 3.94%.
Measured over the past years, CNMD shows a small growth in Revenue. The Revenue has been growing by 6.47% on average per year.
EPS 1Y (TTM)20.38%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%17.35%
Revenue 1Y (TTM)3.94%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%3.09%
3.2 Future
CNMD is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.42% yearly.
Based on estimates for the next years, CNMD will show a small growth in Revenue. The Revenue will grow by 5.42% on average per year.
EPS Next Y9.58%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
EPS Next 5YN/A
Revenue Next Year5.05%
Revenue Next 2Y5.25%
Revenue Next 3Y5.42%
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 reasonably with a Price/Earnings ratio of 11.14.
Based on the Price/Earnings ratio, CNMD is valued cheaper than 92.11% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.41. CNMD is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.28, the valuation of CNMD can be described as very reasonable.
CNMD's Price/Forward Earnings ratio is rather cheap when compared to the industry. CNMD is cheaper than 92.63% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.87, CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.14 | ||
| Fwd PE | 10.28 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CNMD is valued cheaply inside the industry as 92.63% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, CNMD is valued cheaply inside the industry as 96.32% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.44 | ||
| EV/EBITDA | 9.09 |
4.3 Compensation for Growth
CNMD's 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)1.16
PEG (5Y)1.18
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.56%. Purely for dividend investing, there may be better candidates out there.
CNMD's Dividend Yield is rather good when compared to the industry average which is at 1.74. CNMD pays more dividend than 95.26% of the companies in the same industry.
CNMD's Dividend Yield is slightly below the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.56% |
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)-0.01%
Div Incr Years0
Div Non Decr Years12
5.3 Sustainability
22.42% of the earnings are spent on dividend by CNMD. This is a low number and sustainable payout ratio.
DP22.42%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
50
-0.01 (-0.02%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners116.94%
Inst Owner Change-1.49%
Ins Owners0.28%
Ins Owner Change-0.47%
Market Cap1.55B
Analysts73.33
Price Target62.99 (25.98%)
Short Float %6.79%
Short Ratio4.56
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.56% |
Yearly Dividend0.8
Dividend Growth(5Y)-0.01%
DP22.42%
Div Incr Years0
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.57%
Min EPS beat(2)0.37%
Max EPS beat(2)14.78%
EPS beat(4)4
Avg EPS beat(4)7%
Min EPS beat(4)0.37%
Max EPS beat(4)14.78%
EPS beat(8)7
Avg EPS beat(8)4.79%
EPS beat(12)10
Avg EPS beat(12)-0.43%
EPS beat(16)13
Avg EPS beat(16)0.77%
Revenue beat(2)1
Avg Revenue beat(2)-0.12%
Min Revenue beat(2)-0.75%
Max Revenue beat(2)0.51%
Revenue beat(4)1
Avg Revenue beat(4)-0.8%
Min Revenue beat(4)-2.4%
Max Revenue beat(4)0.51%
Revenue beat(8)1
Avg Revenue beat(8)-1.21%
Revenue beat(12)3
Avg Revenue beat(12)-1.83%
Revenue beat(16)4
Avg Revenue beat(16)-1.82%
PT rev (1m)0%
PT rev (3m)-8.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)5.71%
EPS NY rev (1m)0%
EPS NY rev (3m)1.38%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.04%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.14 | ||
| Fwd PE | 10.28 | ||
| P/S | 1.17 | ||
| P/FCF | 10.44 | ||
| P/OCF | 9.37 | ||
| P/B | 1.54 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.09 |
EPS(TTM)4.49
EY8.98%
EPS(NY)4.87
Fwd EY9.73%
FCF(TTM)4.79
FCFY9.58%
OCF(TTM)5.34
OCFY10.68%
SpS42.85
BVpS32.4
TBVpS-13.11
PEG (NY)1.16
PEG (5Y)1.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.73% | ||
| ROE | 10.99% | ||
| ROCE | 9.38% | ||
| ROIC | 7.55% | ||
| ROICexc | 7.68% | ||
| ROICexgc | 25.98% | ||
| OM | 14.38% | ||
| PM (TTM) | 8.31% | ||
| GM | 56.05% | ||
| FCFM | 11.18% |
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-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 5.95 | ||
| Debt/EBITDA | 3.34 | ||
| Cap/Depr | 23.31% | ||
| Cap/Sales | 1.28% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 62.68% | ||
| Profit Quality | 134.53% | ||
| Current Ratio | 2.23 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 2.07 |
F-Score7
WACC6.52%
ROIC/WACC1.16
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)20.38%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%17.35%
EPS Next Y9.58%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
EPS Next 5YN/A
Revenue 1Y (TTM)3.94%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%3.09%
Revenue Next Year5.05%
Revenue Next 2Y5.25%
Revenue Next 3Y5.42%
Revenue Next 5YN/A
EBIT growth 1Y11.97%
EBIT growth 3Y23.86%
EBIT growth 5Y16.64%
EBIT Next Year45.54%
EBIT Next 3Y17.93%
EBIT Next 5YN/A
FCF growth 1Y832.34%
FCF growth 3Y16.67%
FCF growth 5Y15.46%
OCF growth 1Y345.31%
OCF growth 3Y14.3%
OCF growth 5Y11.92%