CNMD gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 185 industry peers in the Health Care Equipment & Supplies industry. CNMD has only an average score on both its financial health and profitability. CNMD is valued quite cheap, but it does not seem to be growing.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

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.
In multiple years CNMD reported negative net income over the last 5 years.
Of the past 5 years CNMD 4 years had a positive operating cash flow.

1.2 Ratios

The Return On Assets of CNMD (2.77%) is better than 76.76% of its industry peers.
The Return On Equity of CNMD (6.38%) is better than 80.00% of its industry peers.
CNMD has a better Return On Invested Capital (5.39%) than 77.30% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CNMD is below the industry average of 8.81%.
The last Return On Invested Capital (5.39%) for CNMD is above the 3 year average (5.34%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	2.77%
ROE	6.38%
ROIC	5.39%

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 4.77%. This is in the better half of the industry: CNMD outperforms 77.30% of its industry peers.
In the last couple of years the Profit Margin of CNMD has grown nicely.
The Operating Margin of CNMD (9.99%) is better than 78.38% of its industry peers.
In the last couple of years the Operating Margin of CNMD has grown nicely.
The Gross Margin of CNMD (54.22%) 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	9.99%
PM (TTM)	4.77%
GM	54.22%

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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CNMD is destroying value.
There is no outstanding debt for CNMD. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

2.2 Solvency

An Altman-Z score of 1.84 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
CNMD's Altman-Z score of 1.84 is in line compared to the rest of the industry. CNMD outperforms 57.30% of its industry peers.
The Debt to FCF ratio of CNMD is 5.74, which is a neutral value as it means it would take CNMD, 5.74 years of fcf income to pay off all of its debts.
CNMD's Debt to FCF ratio of 5.74 is fine compared to the rest of the industry. CNMD outperforms 77.84% of its industry peers.
A Debt/Equity ratio of 0.85 indicates that CNMD is somewhat dependend on debt financing.
CNMD has a worse Debt to Equity ratio (0.85) than 72.97% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.85
Debt/FCF	5.74
Altman-Z	1.84

ROIC/WACC0.6

WACC8.93%

2.3 Liquidity

CNMD has a Current Ratio of 2.10. This indicates that CNMD is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of CNMD (2.10) is comparable to the rest of the industry.
CNMD has a Quick Ratio of 2.10. This is a bad value and indicates that CNMD is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of CNMD (0.95) is worse than 78.38% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	2.1
Quick Ratio	0.95

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 10.82% over the past year.
Measured over the past years, CNMD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.37% on average per year.

EPS 1Y (TTM)10.82%

EPS 3Y20.27%

EPS 5Y16.37%

EPS Q2Q%6.72%

Revenue 1Y (TTM)N/A

Revenue growth 3YN/A

Revenue growth 5YN/A

Sales Q2Q%7.88%

3.2 Future

The Earnings Per Share is expected to grow by 8.98% on average over the next years. This is quite good.
CNMD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.22% yearly.

EPS Next Y-0.49%

EPS Next 2Y4.19%

EPS Next 3Y8.98%

EPS Next 5YN/A

Revenue Next Year0.93%

Revenue Next 2Y2.9%

Revenue Next 3Y5.22%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 8.33, the valuation of CNMD can be described as very reasonable.
96.22% 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 28.32, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 8.37, which indicates a very decent valuation of CNMD.
Based on the Price/Forward Earnings ratio, CNMD is valued cheaply inside the industry as 96.76% of the companies are valued more expensively.
CNMD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.57.

		Industry Rank	Sector Rank
PE	8.33
Fwd PE	8.37

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CNMD is valued cheaper than 91.35% of the companies in the same industry.
98.92% of the companies in the same industry are more expensive than CNMD, based on the Price/Free Cash Flow ratio.

		Industry Rank	Sector Rank
P/FCF	8
EV/EBITDA	9.6

4.3 Compensation for Growth

The decent profitability rating of CNMD may justify a higher PE ratio.

PEG (NY)N/A

PEG (5Y)0.51

EPS Next 2Y4.19%

EPS Next 3Y8.98%

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5. Dividend

5.1 Amount

CNMD has a Yearly Dividend Yield of 2.14%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 0.21, CNMD pays a better dividend. On top of this CNMD pays more dividend than 96.76% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 1.83, CNMD has a dividend comparable with the average S&P500 company.

		Industry Rank	Sector Rank
Dividend Yield	2.14%

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

39.73% of the earnings are spent on dividend by CNMD. This is a low number and sustainable payout ratio.

DP39.73%

EPS Next 2Y4.19%

EPS Next 3Y8.98%

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CONMED CORP / CNMD FAQ

What is the ChartMill fundamental rating of CONMED CORP (CNMD) stock?

ChartMill assigns a fundamental rating of 5 / 10 to CNMD.

Can you provide the valuation status for CONMED CORP?

ChartMill assigns a valuation rating of 7 / 10 to CONMED CORP (CNMD). This can be considered as Undervalued.

How profitable is CONMED CORP (CNMD) stock?

CONMED CORP (CNMD) has a profitability rating of 6 / 10.

Can you provide the PE and PB ratios for CNMD stock?

The Price/Earnings (PE) ratio for CONMED CORP (CNMD) is 8.33 and the Price/Book (PB) ratio is 1.18.

What is the expected EPS growth for CONMED CORP (CNMD) stock?

The Earnings per Share (EPS) of CONMED CORP (CNMD) is expected to decline by -0.49% in the next year.