CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
43.76 USD
+0.5 (+1.16%)
43.8 USD
+0.04 (+0.09%)
Overall CNMD gets a fundamental rating of 6 out of 10. We evaluated CNMD against 188 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 is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
In the past year CNMD was profitable.
CNMD had a positive operating cash flow in the past year.
Of the past 5 years CNMD 4 years were profitable.
CNMD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of CNMD (2.77%) is better than 76.06% of its industry peers.
CNMD has a better Return On Equity (6.38%) than 79.26% of its industry peers.
CNMD has a better Return On Invested Capital (5.39%) than 78.19% 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 8.71%.
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
CNMD has a better Profit Margin (4.77%) than 76.60% of its industry peers.
In the last couple of years the Profit Margin of CNMD has grown nicely.
Looking at the Operating Margin, with a value of 9.99%, CNMD is in the better half of the industry, outperforming 77.66% of the companies in the same industry.
CNMD's Operating Margin has improved in the last couple of years.
CNMD has a Gross Margin (54.22%) which is comparable to the rest of the 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CNMD is destroying value.
CNMD has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, CNMD has more shares outstanding
Compared to 1 year ago, CNMD has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.91 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 1.91, CNMD perfoms like the industry average, outperforming 59.04% 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 77.66% 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 72.87% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.91 |
ROIC/WACC0.86
WACC6.25%
2.3 Liquidity
CNMD has a Current Ratio of 2.10. This indicates that CNMD is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of CNMD (2.10) is worse than 62.23% of its industry peers.
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'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.
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 4.61% 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)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.
The Revenue is expected to grow by 5.19% on average over the next years.
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
With a Price/Earnings ratio of 9.68, the valuation of CNMD can be described as very reasonable.
Based on the Price/Earnings ratio, CNMD is valued cheaper than 94.15% of the companies in the same industry.
When comparing the Price/Earnings ratio of CNMD to the average of the S&P500 Index (26.15), we can say CNMD is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.99, 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 95.74% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.12, CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.68 | ||
| Fwd PE | 8.99 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CNMD is valued cheaper than 89.36% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, CNMD is valued cheaper than 97.87% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.11 | ||
| EV/EBITDA | 10.39 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of CNMD may justify a higher PE ratio.
PEG (NY)1.01
PEG (5Y)1.03
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.97%.
CNMD's Dividend Yield is rather good when compared to the industry average which is at 1.73. CNMD pays more dividend than 96.28% of the companies 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 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 2Y8.14%
EPS Next 3Y9.42%
43.76
+0.5 (+1.16%)
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 Cap1.36B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (25.87%)
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 | 9.68 | ||
| Fwd PE | 8.99 | ||
| P/S | 1.01 | ||
| P/FCF | 9.11 | ||
| P/OCF | 8.1 | ||
| P/B | 1.34 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.39 |
EPS(TTM)4.52
EY10.33%
EPS(NY)4.87
Fwd EY11.12%
FCF(TTM)4.8
FCFY10.97%
OCF(TTM)5.4
OCFY12.35%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)1.01
PEG (5Y)1.03
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 | 1.91 |
F-Score5
WACC6.25%
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 9.68 and the Price/Book (PB) ratio is 1.34.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 3 / 10.