CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
40.07 USD
-4.17 (-9.43%)
40.11 USD
+0.04 (+0.1%)
We assign a fundamental rating of 5 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
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.
Each year in the past 5 years CNMD had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 2.77%, CNMD is doing good in the industry, outperforming 76.72% of the companies in the same industry.
The Return On Equity of CNMD (6.38%) is better than 79.89% of its industry peers.
CNMD's Return On Invested Capital of 5.39% is fine compared to the rest of the industry. CNMD outperforms 77.78% of its industry peers.
CNMD had an Average Return On Invested Capital over the past 3 years of 5.34%. This 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 77.25% of the companies in the same industry.
In the last couple of years the Profit Margin of CNMD has grown nicely.
CNMD's Operating Margin of 9.99% is fine compared to the rest of the industry. CNMD outperforms 78.31% of its industry peers.
In the last couple of years the Operating Margin of CNMD has grown nicely.
CNMD has a Gross Margin (54.22%) which is in line with its industry peers.
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.
The number of shares outstanding for CNMD has been increased compared to 1 year ago.
Compared to 5 years ago, CNMD has more shares outstanding
CNMD has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 1.86 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of CNMD (1.86) is comparable to the rest of the industry.
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.
With a decent Debt to FCF ratio value of 5.74, CNMD is doing good in the industry, outperforming 78.31% of the companies in the same industry.
A Debt/Equity ratio of 0.85 indicates that CNMD is somewhat dependend on debt financing.
The Debt to Equity ratio of CNMD (0.85) is worse than 71.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.86 |
ROIC/WACC0.87
WACC6.2%
2.3 Liquidity
A Current Ratio of 2.10 indicates that CNMD has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.10, CNMD is doing worse than 61.38% of the companies in the same 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.
CNMD has a Quick ratio of 0.95. This is in the lower half of the industry: CNMD underperforms 79.37% 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.
Looking at the last year, CNMD shows a small growth in Revenue. The Revenue has grown by 4.61% in the last year.
The Revenue has been growing slightly by 6.47% on average over the past years.
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
Based on estimates for the next years, CNMD will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.44% on average per year.
The Revenue is expected to grow by 5.19% on average over the next years.
EPS Next Y10.38%
EPS Next 2Y8.34%
EPS Next 3Y9.15%
EPS Next 5Y9.44%
Revenue Next Year5.12%
Revenue Next 2Y5.17%
Revenue Next 3Y5.15%
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.
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
The Price/Earnings ratio is 8.87, which indicates a very decent valuation of CNMD.
Based on the Price/Earnings ratio, CNMD is valued cheaper than 95.24% of the companies in the same industry.
When comparing the Price/Earnings ratio of CNMD to the average of the S&P500 Index (26.46), we can say CNMD is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.21, the valuation of CNMD can be described as very reasonable.
96.30% of the companies in the same industry are more expensive than CNMD, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of CNMD to the average of the S&P500 Index (36.10), we can say CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.87 | ||
| Fwd PE | 8.21 |
4.2 Price Multiples
90.48% of the companies in the same industry are more expensive than CNMD, based on the Enterprise Value to EBITDA ratio.
97.35% 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 | 8.35 | ||
| EV/EBITDA | 9.85 |
4.3 Compensation for Growth
The 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.
PEG (NY)0.85
PEG (5Y)0.94
EPS Next 2Y8.34%
EPS Next 3Y9.15%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.81%.
The stock price of CNMD dropped by -27.11% 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 95.77% of the companies listed in the same industry.
CNMD's Dividend Yield is slightly below the S&P500 average, which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.81% |
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 2Y8.34%
EPS Next 3Y9.15%
40.07
-4.17 (-9.43%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners114.32%
Inst Owner Change1.75%
Ins Owners0.29%
Ins Owner Change0.82%
Market Cap1.24B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (37.46%)
Short Float %7.31%
Short Ratio4.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.81% |
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%
EPS NQ rev (3m)0.42%
EPS NY rev (1m)0.73%
EPS NY rev (3m)0.73%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.07%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.87 | ||
| Fwd PE | 8.21 | ||
| P/S | 0.92 | ||
| P/FCF | 8.35 | ||
| P/OCF | 7.42 | ||
| P/B | 1.23 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.85 |
EPS(TTM)4.52
EY11.28%
EPS(NY)4.88
Fwd EY12.18%
FCF(TTM)4.8
FCFY11.98%
OCF(TTM)5.4
OCFY13.49%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)0.85
PEG (5Y)0.94
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 | 1.86 |
F-Score5
WACC6.2%
ROIC/WACC0.87
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 Y10.38%
EPS Next 2Y8.34%
EPS Next 3Y9.15%
EPS Next 5Y9.44%
Revenue 1Y (TTM)4.61%
Revenue growth 3Y8.95%
Revenue growth 5Y6.47%
Sales Q2Q%6.7%
Revenue Next Year5.12%
Revenue Next 2Y5.17%
Revenue Next 3Y5.15%
Revenue Next 5Y5.19%
EBIT growth 1Y-35.26%
EBIT growth 3Y23.86%
EBIT growth 5Y16.64%
EBIT Next Year42.36%
EBIT Next 3Y17.03%
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 8.87 and the Price/Book (PB) ratio is 1.23.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 4 / 10.