CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
44.03 USD
-0.47 (-1.06%)
44.03 USD
0 (0%)
We assign a fundamental rating of 6 out of 10 to CNMD. CNMD was compared to 188 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 may be a bit undervalued, certainly considering the very reasonable score on growth
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
CNMD has a Return On Assets of 2.77%. This is in the better half of the industry: CNMD outperforms 76.06% of its industry peers.
Looking at the Return On Equity, with a value of 6.38%, CNMD is in the better half of the industry, outperforming 79.26% of the companies in the same industry.
CNMD has a Return On Invested Capital of 5.39%. This is in the better half of the industry: CNMD outperforms 77.66% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 8.78%.
The 3 year average ROIC (5.34%) for CNMD is below the current ROIC(5.39%), indicating increased profibility in the last year.
| 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
With a decent Profit Margin value of 4.77%, CNMD is doing good in the industry, outperforming 76.60% of the companies in the same industry.
In the last couple of years the Profit Margin of CNMD has grown nicely.
CNMD has a Operating Margin of 9.99%. This is in the better half of the industry: CNMD outperforms 77.66% of its industry peers.
In the last couple of years the Operating Margin of CNMD has grown nicely.
Looking at the Gross Margin, with a value of 54.22%, CNMD is in line with its industry, outperforming 50.00% of the companies in the same 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%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CNMD is destroying value.
CNMD has more shares outstanding than it did 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 1.92. 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 1.92 is fine compared to the rest of the industry. CNMD outperforms 60.64% of its industry peers.
CNMD has a debt to FCF ratio of 5.74. This is a neutral value as CNMD would need 5.74 years to pay back of all of its debts.
The Debt to FCF ratio of CNMD (5.74) is better than 77.66% of its industry peers.
A Debt/Equity ratio of 0.85 indicates that CNMD is somewhat dependend on debt financing.
CNMD's Debt to Equity ratio of 0.85 is on the low side compared to the rest of the industry. CNMD is outperformed by 72.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.92 |
ROIC/WACC0.85
WACC6.31%
2.3 Liquidity
A Current Ratio of 2.10 indicates that CNMD has no problem at all paying its short term obligations.
With a Current ratio value of 2.10, CNMD is not doing good in the industry: 62.77% of the companies in the same industry are doing better.
A Quick Ratio of 0.95 indicates that CNMD may have some problems paying its short term obligations.
CNMD has a Quick ratio of 0.95. This is amonst the worse of the industry: CNMD underperforms 80.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.1 | ||
| Quick Ratio | 0.95 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 16.49% 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 4.61%.
CNMD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.47% yearly.
EPS 1Y (TTM)16.49%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%2.86%
Revenue 1Y (TTM)4.61%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%6.7%
3.2 Future
The Earnings Per Share is expected to grow by 9.44% 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 5.19% yearly.
EPS Next Y9.58%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
EPS Next 5Y9.44%
Revenue Next Year5.05%
Revenue Next 2Y5.25%
Revenue Next 3Y5.42%
Revenue Next 5Y5.19%
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
A Price/Earnings ratio of 9.74 indicates a reasonable valuation of CNMD.
94.15% 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 26.15, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 9.05, the valuation of CNMD can be described as reasonable.
CNMD's Price/Forward Earnings ratio is rather cheap when compared to the industry. CNMD is cheaper than 95.21% of the companies in the same industry.
CNMD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.22.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.74 | ||
| Fwd PE | 9.05 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CNMD is valued cheaply inside the industry as 89.36% of the companies are valued more expensively.
CNMD's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CNMD is cheaper than 97.87% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.17 | ||
| EV/EBITDA | 10.5 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CNMD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.02
PEG (5Y)1.03
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.83%, CNMD has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 1.71, CNMD pays a better dividend. On top of this CNMD pays more dividend than 95.74% of the companies listed in the same industry.
Compared to the average S&P500 Dividend Yield of 2.32, CNMD is paying slightly less dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.83% |
5.2 History
The dividend of CNMD decreases each year by -0.01%.
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)-0.01%
Div Incr Years0
Div Non Decr Years12
5.3 Sustainability
CNMD pays out 39.73% of its income as dividend. This is a sustainable payout ratio.
DP39.73%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
44.03
-0.47 (-1.06%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners114.95%
Inst Owner Change1.75%
Ins Owners0.27%
Ins Owner Change0.82%
Market Cap1.36B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (25.1%)
Short Float %7.31%
Short Ratio4.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.83% |
Yearly Dividend0.8
Dividend Growth(5Y)-0.01%
DP39.73%
Div Incr Years0
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)0.52%
Min EPS beat(2)0.37%
Max EPS beat(2)0.66%
EPS beat(4)4
Avg EPS beat(4)6.26%
Min EPS beat(4)0.37%
Max EPS beat(4)14.78%
EPS beat(8)7
Avg EPS beat(8)4.08%
EPS beat(12)10
Avg EPS beat(12)-0.4%
EPS beat(16)13
Avg EPS beat(16)0.52%
Revenue beat(2)0
Avg Revenue beat(2)-0.89%
Min Revenue beat(2)-1.03%
Max Revenue beat(2)-0.75%
Revenue beat(4)1
Avg Revenue beat(4)-0.45%
Min Revenue beat(4)-1.03%
Max Revenue beat(4)0.51%
Revenue beat(8)1
Avg Revenue beat(8)-1.24%
Revenue beat(12)3
Avg Revenue beat(12)-1.58%
Revenue beat(16)4
Avg Revenue beat(16)-1.61%
PT rev (1m)-12.55%
PT rev (3m)-12.55%
EPS NQ rev (1m)0.42%
EPS NQ rev (3m)0.42%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.74 | ||
| Fwd PE | 9.05 | ||
| P/S | 1.01 | ||
| P/FCF | 9.17 | ||
| P/OCF | 8.15 | ||
| P/B | 1.35 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.5 |
EPS(TTM)4.52
EY10.27%
EPS(NY)4.87
Fwd EY11.05%
FCF(TTM)4.8
FCFY10.9%
OCF(TTM)5.4
OCFY12.27%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)1.02
PEG (5Y)1.03
Graham Number57.54
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.77% | ||
| ROE | 6.38% | ||
| ROCE | 6.7% | ||
| ROIC | 5.39% | ||
| ROICexc | 5.5% | ||
| ROICexgc | 19.04% | ||
| OM | 9.99% | ||
| PM (TTM) | 4.77% | ||
| GM | 54.22% | ||
| FCFM | 11.04% |
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%
ROICexgc growth 3Y14.62%
ROICexgc 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-Score5
Asset Turnover0.58
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Debt/EBITDA | 4.09 | ||
| Cap/Depr | 25.13% | ||
| Cap/Sales | 1.38% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 80.15% | ||
| Profit Quality | 231.2% | ||
| Current Ratio | 2.1 | ||
| Quick Ratio | 0.95 | ||
| Altman-Z | 1.92 |
F-Score5
WACC6.31%
ROIC/WACC0.85
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)16.49%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%2.86%
EPS Next Y9.58%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
EPS Next 5Y9.44%
Revenue 1Y (TTM)4.61%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%6.7%
Revenue Next Year5.05%
Revenue Next 2Y5.25%
Revenue Next 3Y5.42%
Revenue Next 5Y5.19%
EBIT growth 1Y-35.26%
EBIT growth 3Y23.86%
EBIT growth 5Y16.64%
EBIT Next Year45.54%
EBIT Next 3Y17.93%
EBIT Next 5YN/A
FCF growth 1Y296.53%
FCF growth 3Y16.67%
FCF growth 5Y15.46%
OCF growth 1Y191.56%
OCF growth 3Y14.3%
OCF growth 5Y11.92%
CONMED CORP / CNMD FAQ
What is the ChartMill fundamental rating of CONMED CORP (CNMD) stock?
ChartMill assigns a fundamental rating of 6 / 10 to CNMD.
What is the valuation status of CONMED CORP (CNMD) stock?
ChartMill assigns a valuation rating of 8 / 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 7 / 10.
What is the valuation of CONMED CORP based on its PE and PB ratios?
The Price/Earnings (PE) ratio for CONMED CORP (CNMD) is 9.74 and the Price/Book (PB) ratio is 1.35.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 4 / 10.