CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
40.83 USD
+0.98 (+2.46%)
40.83 USD
0 (0%)
Overall CNMD gets a fundamental rating of 6 out of 10. We evaluated CNMD against 187 industry peers in the Health Care Equipment & Supplies industry. While CNMD belongs to the best of the industry regarding profitability, there are 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
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.
Each year in the past 5 years CNMD had a positive operating cash flow.
1.2 Ratios
CNMD has a better Return On Assets (2.77%) than 76.47% of its industry peers.
CNMD has a Return On Equity of 6.38%. This is in the better half of the industry: CNMD outperforms 79.68% of its industry peers.
CNMD has a better Return On Invested Capital (5.39%) than 77.54% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 8.80%.
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
CNMD's Profit Margin of 4.77% is fine compared to the rest of the industry. CNMD outperforms 77.01% of its industry peers.
CNMD's Profit Margin has improved in the last couple of years.
CNMD has a Operating Margin of 9.99%. This is in the better half of the industry: CNMD outperforms 78.07% 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 51.34% 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 | 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.
Compared to 1 year ago, CNMD has more shares outstanding
Compared to 5 years ago, CNMD has more shares outstanding
The debt/assets ratio for CNMD has been reduced compared to a year ago.
2.2 Solvency
CNMD has an Altman-Z score of 1.87. 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 Altman-Z score value of 1.87, CNMD perfoms like the industry average, outperforming 59.36% of the companies in the same 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.
CNMD's Debt to FCF ratio of 5.74 is fine compared to the rest of the industry. CNMD outperforms 78.07% of its industry peers.
CNMD has a Debt/Equity ratio of 0.85. This is a neutral value indicating CNMD is somewhat dependend on debt financing.
CNMD has a worse Debt to Equity ratio (0.85) than 72.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.87 |
ROIC/WACC0.86
WACC6.26%
2.3 Liquidity
A Current Ratio of 2.10 indicates that CNMD has no problem at all paying its short term obligations.
CNMD's Current ratio of 2.10 is on the low side compared to the rest of the industry. CNMD is outperformed by 60.43% of its industry peers.
A Quick Ratio of 0.95 indicates that CNMD may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.95, CNMD is doing worse than 79.68% of the companies in the same industry.
| 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.
The Earnings Per Share has been growing by 9.44% on average over the past years. This is quite good.
CNMD shows a small growth in Revenue. In the last year, the Revenue has grown by 4.61%.
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
The Earnings Per Share is expected to grow by 9.44% on average over the next years. This is quite good.
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
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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
With a Price/Earnings ratio of 9.03, the valuation of CNMD can be described as very reasonable.
Based on the Price/Earnings ratio, CNMD is valued cheaply inside the industry as 94.65% of the companies are valued more expensively.
CNMD is valuated cheaply when we compare the Price/Earnings ratio to 26.54, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 8.36 indicates a reasonable valuation of CNMD.
Based on the Price/Forward Earnings ratio, CNMD is valued cheaper than 96.79% 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 23.78.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.03 | ||
| Fwd PE | 8.36 |
4.2 Price Multiples
CNMD's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CNMD is cheaper than 90.91% of the companies in the same industry.
97.33% 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 | 8.5 | ||
| EV/EBITDA | 9.96 |
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)0.87
PEG (5Y)0.96
EPS Next 2Y8.34%
EPS Next 3Y9.15%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 2.01%. Purely for dividend investing, there may be better candidates out there.
In the last 3 months the price of CNMD has falen by -22.82%. 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 0.24. CNMD pays more dividend than 96.26% of the companies in the same industry.
CNMD's Dividend Yield is comparable with the S&P500 average which is at 1.96.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.01% |
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 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 2Y8.34%
EPS Next 3Y9.15%
40.83
+0.98 (+2.46%)
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 Change0.35%
Market Cap1.26B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (34.9%)
Short Float %7.31%
Short Ratio4.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.01% |
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 | 9.03 | ||
| Fwd PE | 8.36 | ||
| P/S | 0.94 | ||
| P/FCF | 8.5 | ||
| P/OCF | 7.56 | ||
| P/B | 1.25 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.96 |
EPS(TTM)4.52
EY11.07%
EPS(NY)4.88
Fwd EY11.96%
FCF(TTM)4.8
FCFY11.76%
OCF(TTM)5.4
OCFY13.23%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)0.87
PEG (5Y)0.96
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 | 1.87 |
F-Score5
WACC6.26%
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 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 5 / 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 9.03 and the Price/Book (PB) ratio is 1.25.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 3 / 10.