CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
42.78 USD
+2.15 (+5.29%)
42.78 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. A decent growth rate in combination with a cheap valuation! Better keep an eye on CNMD. CNMD also has an excellent dividend rating. This makes CNMD very considerable for value and dividend investing!
1. Profitability
1.1 Basic Checks
In the past year CNMD was profitable.
In the past year CNMD had a positive cash flow from operations.
CNMD had positive earnings in 4 of the past 5 years.
In the past 5 years CNMD always reported a positive cash flow from operatings.
1.2 Ratios
CNMD has a Return On Assets of 4.73%. This is amongst the best in the industry. CNMD outperforms 80.32% of its industry peers.
CNMD has a better Return On Equity (10.97%) than 86.70% of its industry peers.
The Return On Invested Capital of CNMD (7.55%) is better than 82.45% of its industry peers.
CNMD had an Average Return On Invested Capital over the past 3 years of 5.35%. This is below the industry average of 8.98%.
The last Return On Invested Capital (7.55%) for CNMD is above the 3 year average (5.35%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.73% | ||
| ROE | 10.97% | ||
| ROIC | 7.55% |
ROA(3y)1.67%
ROA(5y)1.82%
ROE(3y)3.52%
ROE(5y)3.97%
ROIC(3y)5.35%
ROIC(5y)4.98%
1.3 Margins
CNMD has a Profit Margin of 8.30%. This is amongst the best in the industry. CNMD outperforms 80.85% 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 14.36%, CNMD belongs to the best of the industry, outperforming 82.98% of the companies in the same industry.
In the last couple of years the Operating Margin of CNMD has grown nicely.
CNMD's Gross Margin of 56.05% is in line compared to the rest of the industry. CNMD outperforms 52.66% of its industry peers.
CNMD's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.36% | ||
| PM (TTM) | 8.3% | ||
| GM | 56.05% |
OM growth 3Y13.62%
OM growth 5Y9.51%
PM growth 3Y17.76%
PM growth 5Y27.53%
GM growth 3Y-0.07%
GM growth 5Y0.25%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CNMD is still creating some value.
Compared to 1 year ago, CNMD has about the same amount of shares outstanding.
CNMD has more shares outstanding than it did 5 years ago.
CNMD has a better debt/assets ratio than last year.
2.2 Solvency
CNMD has an Altman-Z score of 1.94. 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 1.94, CNMD is doing good in the industry, outperforming 60.64% of the companies in the same industry.
The Debt to FCF ratio of CNMD is 5.91, which is a neutral value as it means it would take CNMD, 5.91 years of fcf income to pay off all of its debts.
CNMD has a Debt to FCF ratio of 5.91. This is in the better half of the industry: CNMD outperforms 77.13% 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 74.47% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 5.91 | ||
| Altman-Z | 1.94 |
ROIC/WACC1.2
WACC6.29%
2.3 Liquidity
A Current Ratio of 2.23 indicates that CNMD has no problem at all paying its short term obligations.
With a Current ratio value of 2.23, CNMD is not doing good in the industry: 60.11% of the companies in the same industry are doing better.
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 77.13% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.23 | ||
| 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 16.49%, which is quite good.
Measured over the past years, CNMD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.44% on average per year.
Looking at the last year, CNMD shows a small growth in Revenue. The Revenue has grown by 5.00% in the last year.
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)16.49%
EPS 3Y9.03%
EPS 5Y9.44%
EPS Q2Q%2.86%
Revenue 1Y (TTM)5%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%6.7%
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.
The Revenue is expected to grow by 5.42% on average over the next years.
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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.46 indicates a reasonable valuation of CNMD.
Compared to the rest of the industry, the Price/Earnings ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 94.15% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 25.45. CNMD is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 8.79, the valuation of CNMD can be described as very reasonable.
Based on the Price/Forward Earnings ratio, CNMD is valued cheaply inside the industry as 94.15% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.46, CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.46 | ||
| Fwd PE | 8.79 |
4.2 Price Multiples
93.09% of the companies in the same industry are more expensive than CNMD, based on the Enterprise Value to EBITDA ratio.
96.81% 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 | 8.88 | ||
| EV/EBITDA | 7.99 |
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 excellent profitability rating of CNMD may justify a higher PE ratio.
PEG (NY)0.99
PEG (5Y)1
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.85%.
In the last 3 months the price of CNMD has falen by -23.35%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
Compared to an average industry Dividend Yield of 1.69, CNMD pays a better dividend. On top of this CNMD pays more dividend than 96.28% of the companies listed in the same industry.
CNMD's Dividend Yield is slightly below the S&P500 average, which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.85% |
5.2 History
The dividend of CNMD has a limited annual growth rate of 0.16%.
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)0.16%
Div Incr Years0
Div Non Decr Years12
5.3 Sustainability
CNMD pays out 22.72% of its income as dividend. This is a sustainable payout ratio.
CNMD's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP22.72%
EPS Next 2Y8.14%
EPS Next 3Y9.42%
42.78
+2.15 (+5.29%)
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 Change1.64%
Ins Owners0.27%
Ins Owner Change2.67%
Market Cap1.32B
Revenue(TTM)1.31B
Net Income(TTM)110.04M
Analysts73.33
Price Target62.99 (47.24%)
Short Float %7.46%
Short Ratio5.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.85% |
Yearly Dividend0.81
Dividend Growth(5Y)0.16%
DP22.72%
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)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)1.69%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.46 | ||
| Fwd PE | 8.79 | ||
| P/S | 1 | ||
| P/FCF | 8.88 | ||
| P/OCF | 7.98 | ||
| P/B | 1.32 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.99 |
EPS(TTM)4.52
EY10.57%
EPS(NY)4.87
Fwd EY11.37%
FCF(TTM)4.82
FCFY11.26%
OCF(TTM)5.36
OCFY12.54%
SpS42.85
BVpS32.37
TBVpS-13.15
PEG (NY)0.99
PEG (5Y)1
Graham Number57.38
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.73% | ||
| ROE | 10.97% | ||
| ROCE | 9.37% | ||
| ROIC | 7.55% | ||
| ROICexc | 7.68% | ||
| ROICexgc | 26.02% | ||
| OM | 14.36% | ||
| PM (TTM) | 8.3% | ||
| GM | 56.05% | ||
| FCFM | 11.24% |
ROA(3y)1.67%
ROA(5y)1.82%
ROE(3y)3.52%
ROE(5y)3.97%
ROIC(3y)5.35%
ROIC(5y)4.98%
ROICexc(3y)5.42%
ROICexc(5y)5.05%
ROICexgc(3y)20.07%
ROICexgc(5y)18.29%
ROCE(3y)6.64%
ROCE(5y)6.18%
ROICexgc growth 3Y14.56%
ROICexgc growth 5Y8.78%
ROICexc growth 3Y13.61%
ROICexc growth 5Y10.93%
OM growth 3Y13.62%
OM growth 5Y9.51%
PM growth 3Y17.76%
PM growth 5Y27.53%
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 | 5.91 | ||
| Debt/EBITDA | 3.34 | ||
| Cap/Depr | 23.06% | ||
| Cap/Sales | 1.27% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 62.96% | ||
| Profit Quality | 135.51% | ||
| Current Ratio | 2.23 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 1.94 |
F-Score7
WACC6.29%
ROIC/WACC1.2
Cap/Depr(3y)25.27%
Cap/Depr(5y)22.96%
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 5YN/A
Revenue 1Y (TTM)5%
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 5YN/A
EBIT growth 1Y11.85%
EBIT growth 3Y23.79%
EBIT growth 5Y16.6%
EBIT Next Year45.54%
EBIT Next 3Y17.93%
EBIT Next 5YN/A
FCF growth 1Y837.86%
FCF growth 3Y16.7%
FCF growth 5Y15.48%
OCF growth 1Y347.44%
OCF growth 3Y14.31%
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 8 / 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 9.46 and the Price/Book (PB) ratio is 1.32.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 5 / 10.