CONMED CORP (CNMD)
US2074101013 - Common Stock
CNMD gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 192 industry peers in the Health Care Equipment & Supplies industry. CNMD has an excellent profitability rating, but there are concerns on its financial health. CNMD is growing strongly while it also seems undervalued. This is an interesting combination Finally CNMD also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
CNMD had positive earnings in the past year.
In the past year CNMD had a positive cash flow from operations.
Of the past 5 years CNMD 4 years were profitable.
In the past 5 years CNMD always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of CNMD (2.80%) is better than 77.08% of its industry peers.
CNMD has a Return On Equity of 7.72%. This is amongst the best in the industry. CNMD outperforms 80.21% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.92%, CNMD is in the better half of the industry, outperforming 77.08% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 8.50%.
The 3 year average ROIC (4.42%) for CNMD is below the current ROIC(4.92%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.8% | ||
| ROE | 7.72% | ||
| ROIC | 4.92% |
ROA(3y)0.94%
ROA(5y)1%
ROE(3y)1.62%
ROE(5y)2.05%
ROIC(3y)4.42%
ROIC(5y)4.25%
1.3 Margins
CNMD has a Profit Margin of 5.17%. This is in the better half of the industry: CNMD outperforms 77.08% of its industry peers.
CNMD's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 9.86%, CNMD is in the better half of the industry, outperforming 78.65% of the companies in the same industry.
CNMD's Operating Margin has been stable in the last couple of years.
CNMD has a Gross Margin (54.33%) which 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 | 9.86% | ||
| PM (TTM) | 5.17% | ||
| GM | 54.33% |
OM growth 3Y11.01%
OM growth 5Y-0.39%
PM growth 3Y67.53%
PM growth 5Y1.71%
GM growth 3Y0.03%
GM growth 5Y-0.09%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CNMD is destroying value.
CNMD has more shares outstanding than it did 1 year ago.
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
An Altman-Z score of 1.98 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 1.98, CNMD is in the better half of the industry, outperforming 60.94% of the companies in the same industry.
The Debt to FCF ratio of CNMD is 9.16, which is on the high side as it means it would take CNMD, 9.16 years of fcf income to pay off all of its debts.
CNMD has a Debt to FCF ratio of 9.16. This is in the better half of the industry: CNMD outperforms 76.56% of its industry peers.
CNMD has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.17, CNMD is doing worse than 79.69% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | 9.16 | ||
| Altman-Z | 1.98 |
ROIC/WACC0.54
WACC9.04%
2.3 Liquidity
A Current Ratio of 1.98 indicates that CNMD should not have too much problems paying its short term obligations.
CNMD has a worse Current ratio (1.98) than 75.00% of its industry peers.
A Quick Ratio of 0.96 indicates that CNMD may have some problems paying its short term obligations.
With a Quick ratio value of 0.96, CNMD is not doing good in the industry: 85.42% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.98 | ||
| Quick Ratio | 0.96 |
3. Growth
3.1 Past
CNMD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.19%, which is quite impressive.
Measured over the past years, CNMD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.62% on average per year.
The Revenue has grown by 19.07% in the past year. This is quite good.
CNMD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.69% yearly.
EPS 1Y (TTM)30.19%
EPS 3Y16.89%
EPS 5Y9.62%
EPS growth Q2Q152.38%
Revenue 1Y (TTM)19.07%
Revenue growth 3Y13.01%
Revenue growth 5Y7.69%
Revenue growth Q2Q30.35%
3.2 Future
CNMD is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 24.59% yearly.
The Revenue is expected to grow by 9.96% on average over the next years. This is quite good.
EPS Next Y28.14%
EPS Next 2Y28.87%
EPS Next 3Y25.47%
EPS Next 5Y24.59%
Revenue Next Year8%
Revenue Next 2Y8.28%
Revenue Next 3Y8.44%
Revenue Next 5Y9.96%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 19.48, CNMD is valued on the expensive side.
CNMD's Price/Earnings ratio is rather cheap when compared to the industry. CNMD is cheaper than 88.02% of the companies in the same industry.
When comparing the Price/Earnings ratio of CNMD to the average of the S&P500 Index (25.02), we can say CNMD is valued slightly cheaper.
The Price/Forward Earnings ratio is 15.21, which indicates a correct valuation of CNMD.
CNMD's Price/Forward Earnings ratio is rather cheap when compared to the industry. CNMD is cheaper than 91.15% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of CNMD to the average of the S&P500 Index (21.32), we can say CNMD is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.48 | ||
| Fwd PE | 15.21 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 86.46% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, CNMD is valued cheaply inside the industry as 92.71% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.47 | ||
| EV/EBITDA | 15.29 |
4.3 Compensation for Growth
CNMD's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of CNMD may justify a higher PE ratio.
A more expensive valuation may be justified as CNMD's earnings are expected to grow with 25.47% in the coming years.
PEG (NY)0.69
PEG (5Y)2.03
EPS Next 2Y28.87%
EPS Next 3Y25.47%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.22%.
Compared to an average industry Dividend Yield of 1.68, CNMD pays a better dividend. On top of this CNMD pays more dividend than 94.79% of the companies listed in the same industry.
With a Dividend Yield of 1.22, CNMD pays less dividend than the S&P500 average, which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
5.2 History
The dividend of CNMD has a limited annual growth rate of 0.03%.
CNMD has been paying a dividend for at least 10 years, so it has a reliable track record.
CNMD has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.03%
Div Incr Years0
Div Non Decr Years11
5.3 Sustainability
CNMD pays out 38.06% of its income as dividend. This is a sustainable payout ratio.
The dividend of CNMD is growing, but earnings are growing more, so the dividend growth is sustainable.
DP38.06%
EPS Next 2Y28.87%
EPS Next 3Y25.47%
CONMED CORP
NYSE:CNMD (4/29/2024, 7:04:00 PM)
After market: 67.22 0 (0%)67.22
+1.44 (+2.19%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap2.07B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.48 | ||
| Fwd PE | 15.21 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)0.69
PEG (5Y)2.03
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.8% | ||
| ROE | 7.72% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 9.86% | ||
| PM (TTM) | 5.17% | ||
| GM | 54.33% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.54
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.98 | ||
| Quick Ratio | 0.96 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)30.19%
EPS 3Y16.89%
EPS 5Y
EPS growth Q2Q
EPS Next Y28.14%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)19.07%
Revenue growth 3Y13.01%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y