CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
43.3 USD
+0.52 (+1.22%)
43.3 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 concerns on its financial health. CNMD scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
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.
Of the past 5 years CNMD 4 years were profitable.
Each year in the past 5 years CNMD had a positive operating cash flow.
1.2 Ratios
The Return On Assets of CNMD (2.77%) is better than 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 better Return On Invested Capital (5.39%) than 78.19% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 8.71%.
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
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.
CNMD's Profit Margin has improved in the last couple of years.
CNMD has a better Operating Margin (9.99%) than 77.66% of its industry peers.
CNMD's Operating Margin has improved in the last couple of years.
CNMD has a Gross Margin (54.22%) which is in line with its industry peers.
In the last couple of years the Gross Margin of CNMD has remained more or less at the same level.
| 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CNMD is destroying value.
Compared to 1 year ago, CNMD has more shares outstanding
Compared to 5 years ago, CNMD has more shares outstanding
CNMD has a better debt/assets ratio than last year.
2.2 Solvency
CNMD has an Altman-Z score of 1.90. 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.
The Altman-Z score of CNMD (1.90) is comparable to the rest of the industry.
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.
CNMD's Debt to FCF ratio of 5.74 is fine compared to the rest of the industry. CNMD outperforms 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 72.87% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.9 |
ROIC/WACC0.86
WACC6.27%
2.3 Liquidity
A Current Ratio of 2.10 indicates that CNMD has no problem at all paying its short term obligations.
CNMD has a Current ratio of 2.10. This is in the lower half of the industry: CNMD underperforms 62.23% of its industry peers.
A Quick Ratio of 0.95 indicates that CNMD may have some problems paying its short term obligations.
CNMD's Quick ratio of 0.95 is on the low side compared to the rest of the industry. CNMD is outperformed by 80.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.1 | ||
| Quick Ratio | 0.95 |
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.
The Earnings Per Share has been growing by 9.44% on average over the past years. This is quite good.
The Revenue has been growing slightly by 4.61% in the past 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)4.61%
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 9.44% yearly.
Based on estimates for the next years, CNMD will show a small growth in Revenue. The Revenue will grow by 5.19% on average per year.
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 9.58 indicates a reasonable valuation of CNMD.
93.62% of the companies in the same industry are more expensive than CNMD, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 25.47, CNMD is valued rather cheaply.
CNMD is valuated reasonably with a Price/Forward Earnings ratio of 8.90.
94.68% of the companies in the same industry are more expensive than CNMD, based on the Price/Forward Earnings ratio.
CNMD's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 34.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.58 | ||
| Fwd PE | 8.9 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CNMD is valued cheaper than 88.83% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, CNMD is valued cheaply inside the industry as 97.34% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.02 | ||
| EV/EBITDA | 10.25 |
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.
CNMD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1
PEG (5Y)1.01
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.97%.
The stock price of CNMD dropped by -20.35% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 1.74, CNMD pays a better dividend. On top of this CNMD pays more dividend than 96.28% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.41, CNMD has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.97% |
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
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%
43.3
+0.52 (+1.22%)
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 Change0.87%
Market Cap1.34B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (27.21%)
Short Float %7.46%
Short Ratio5.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.97% |
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)1.69%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.58 | ||
| Fwd PE | 8.9 | ||
| P/S | 1 | ||
| P/FCF | 9.02 | ||
| P/OCF | 8.01 | ||
| P/B | 1.33 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.25 |
EPS(TTM)4.52
EY10.44%
EPS(NY)4.87
Fwd EY11.24%
FCF(TTM)4.8
FCFY11.09%
OCF(TTM)5.4
OCFY12.48%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)1
PEG (5Y)1.01
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 | 1.9 |
F-Score5
WACC6.27%
ROIC/WACC0.86
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 9.58 and the Price/Book (PB) ratio is 1.33.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 3 / 10.