CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
44.35 USD
+0.32 (+0.73%)
44.35 USD
0 (0%)
Taking everything into account, CNMD scores 6 out of 10 in our fundamental rating. 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 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.
CNMD had a positive operating cash flow in the past year.
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 Return On Assets of 2.77%. This is in the better half of the industry: CNMD outperforms 76.06% of its industry peers.
CNMD has a Return On Equity of 6.38%. This is in the better half of the industry: CNMD outperforms 79.26% of its industry peers.
CNMD has a Return On Invested Capital of 5.39%. This is in the better half of the industry: CNMD outperforms 77.66% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CNMD 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
The Profit Margin of CNMD (4.77%) is better than 76.60% of its industry peers.
In the last couple of years the Profit Margin of CNMD has grown nicely.
With a decent Operating Margin value of 9.99%, CNMD is doing good in 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
CNMD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, CNMD has more shares outstanding
The number of shares outstanding for CNMD has been increased compared to 5 years ago.
The debt/assets ratio for CNMD has been reduced compared to a year ago.
2.2 Solvency
CNMD has an Altman-Z score of 1.92. 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 decent Altman-Z score value of 1.92, CNMD is doing good in the industry, outperforming 60.64% 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 has a Debt to FCF ratio of 5.74. This is in the better half 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.
Looking at the Debt to Equity ratio, with a value of 0.85, CNMD is doing worse than 72.34% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.85 | ||
| Debt/FCF | 5.74 | ||
| Altman-Z | 1.92 |
ROIC/WACC0.85
WACC6.32%
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 worse Current ratio (2.10) than 62.77% of its industry peers.
A Quick Ratio of 0.95 indicates that CNMD may have some problems paying its short term obligations.
With a Quick ratio value of 0.95, CNMD is not doing good in the industry: 80.32% of the companies in the same industry are doing better.
| 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.
CNMD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.44% yearly.
CNMD shows a small growth in Revenue. In the last year, the Revenue has grown by 4.61%.
CNMD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.47% yearly.
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.
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
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
A Price/Earnings ratio of 9.81 indicates a reasonable valuation of CNMD.
Based on the Price/Earnings ratio, CNMD is valued cheaply inside the industry as 94.15% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 26.37. CNMD is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 9.12, which indicates a very decent valuation of CNMD.
95.21% of the companies in the same industry are more expensive than CNMD, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.20, CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.81 | ||
| Fwd PE | 9.12 |
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.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CNMD indicates a rather cheap valuation: CNMD is cheaper than 97.87% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.24 | ||
| EV/EBITDA | 10.43 |
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)1.02
PEG (5Y)1.04
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.83%.
Compared to an average industry Dividend Yield of 1.71, CNMD pays a better dividend. On top of this CNMD pays more dividend than 95.74% 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 | 1.83% |
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%
44.35
+0.32 (+0.73%)
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 Change0.82%
Market Cap1.37B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (24.19%)
Short Float %7.31%
Short Ratio4.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.83% |
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)0%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.81 | ||
| Fwd PE | 9.12 | ||
| P/S | 1.02 | ||
| P/FCF | 9.24 | ||
| P/OCF | 8.21 | ||
| P/B | 1.36 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.43 |
EPS(TTM)4.52
EY10.19%
EPS(NY)4.87
Fwd EY10.97%
FCF(TTM)4.8
FCFY10.83%
OCF(TTM)5.4
OCFY12.18%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)1.02
PEG (5Y)1.04
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 | 1.92 |
F-Score5
WACC6.32%
ROIC/WACC0.85
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 9.81 and the Price/Book (PB) ratio is 1.36.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 4 / 10.