CONMED CORP (CNMD) Stock Fundamental Analysis
USA - NYSE:CNMD - US2074101013 - Common Stock
40.63 USD
+0.12 (+0.3%)
40.63 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 is valued quite cheap, while showing a decent growth score. This is a good combination! CNMD also has an excellent dividend rating. With these ratings, CNMD could be worth investigating further 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 better Return On Assets (4.73%) than 80.32% of its industry peers.
With an excellent Return On Equity value of 10.97%, CNMD belongs to the best of the industry, outperforming 86.70% of the companies in the same industry.
The Return On Invested Capital of CNMD (7.55%) is better than 82.45% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CNMD is below the industry average of 8.98%.
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
Looking at the Profit Margin, with a value of 8.30%, CNMD belongs to the top of the industry, outperforming 80.85% of the companies in the same industry.
In the last couple of years the Profit Margin of CNMD has grown nicely.
Looking at the Operating Margin, with a value of 14.36%, CNMD belongs to the top of the industry, outperforming 82.98% of the companies in the same industry.
CNMD's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 56.05%, CNMD perfoms like the industry average, outperforming 52.66% of the companies in the same industry.
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 | 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.
The number of shares outstanding for CNMD remains at a similar level compared to 1 year ago.
CNMD has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, CNMD has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.94 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 1.94, CNMD is in the better half of 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.
With a Debt to Equity ratio value of 0.88, CNMD is not doing good in the industry: 74.47% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 5.91 | ||
| Altman-Z | 1.94 |
ROIC/WACC1.21
WACC6.23%
2.3 Liquidity
CNMD has a Current Ratio of 2.23. This indicates that CNMD is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.23, CNMD is doing worse than 60.11% of the companies in the same industry.
A Quick Ratio of 1.00 indicates that CNMD should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.00, CNMD is not doing good in the industry: 77.13% of the companies in the same industry are doing better.
| 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.
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 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
Based on estimates for the next years, CNMD will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.42% on average per year.
Based on estimates for the next years, CNMD will show a small growth in Revenue. The Revenue will grow by 5.42% on average per year.
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 8.99 indicates a reasonable valuation of CNMD.
CNMD's Price/Earnings ratio is rather cheap when compared to the industry. CNMD is cheaper than 93.62% of the companies in the same industry.
CNMD's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.07.
A Price/Forward Earnings ratio of 8.35 indicates a reasonable valuation of CNMD.
Based on the Price/Forward Earnings ratio, CNMD is valued cheaply inside the industry as 94.68% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of CNMD to the average of the S&P500 Index (34.08), we can say CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.99 | ||
| Fwd PE | 8.35 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 93.09% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 97.34% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.43 | ||
| EV/EBITDA | 7.97 |
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)0.94
PEG (5Y)0.95
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.85%, CNMD has a reasonable but not impressive dividend return.
In the last 3 months the price of CNMD has falen by -27.20%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
CNMD's Dividend Yield is rather good when compared to the industry average which is at 1.69. CNMD pays more dividend than 96.28% of the companies in the same industry.
Compared to the average S&P500 Dividend Yield of 2.44, CNMD is paying slightly less dividend.
| 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 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)0.16%
Div Incr Years0
Div Non Decr Years12
5.3 Sustainability
22.72% of the earnings are spent on dividend by CNMD. This is a low number and 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%
40.63
+0.12 (+0.3%)
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 Cap1.26B
Revenue(TTM)1.31B
Net Income(TTM)110.04M
Analysts73.33
Price Target62.99 (55.03%)
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 | 8.99 | ||
| Fwd PE | 8.35 | ||
| P/S | 0.95 | ||
| P/FCF | 8.43 | ||
| P/OCF | 7.58 | ||
| P/B | 1.25 | ||
| P/tB | N/A | ||
| EV/EBITDA | 7.97 |
EPS(TTM)4.52
EY11.12%
EPS(NY)4.87
Fwd EY11.97%
FCF(TTM)4.82
FCFY11.86%
OCF(TTM)5.36
OCFY13.2%
SpS42.85
BVpS32.37
TBVpS-13.15
PEG (NY)0.94
PEG (5Y)0.95
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
WACC6.23%
ROIC/WACC1.21
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 8.99 and the Price/Book (PB) ratio is 1.25.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 5 / 10.