CONMED CORP (CNMD) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:CNMD - US2074101013 - Common Stock
43.42 USD
-0.34 (-0.78%)
43.42 USD
0 (0%)
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. While CNMD has a great profitability rating, there are quite some 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
In the past year CNMD was profitable.
CNMD had a positive operating cash flow in the past year.
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's Return On Assets of 2.77% is fine compared to the rest of the industry. CNMD outperforms 76.06% of its industry peers.
With a decent Return On Equity value of 6.38%, CNMD is doing good in the industry, outperforming 79.26% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 5.39%, CNMD is in the better half of the industry, outperforming 78.19% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for CNMD is below the industry average of 8.71%.
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
Looking at the Profit Margin, with a value of 4.77%, CNMD is in the better half of the industry, outperforming 76.60% 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 77.66% of its industry peers.
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.
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
CNMD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for CNMD has been increased 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 1.91 indicates that CNMD is not a great score, but indicates only limited risk for bankruptcy at the moment.
CNMD has a Altman-Z score (1.91) which 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.
CNMD has a better Debt to FCF ratio (5.74) than 77.66% of its industry peers.
A Debt/Equity ratio of 0.85 indicates that 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
A Current Ratio of 2.10 indicates that CNMD has no problem at all paying its short term obligations.
CNMD has a Current ratio of 2.10. This is in the lower half of the industry: CNMD underperforms 62.23% 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: 80.85% 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.
The Earnings Per Share has been growing by 9.44% on average over the past years. This is quite good.
The Revenue has been growing slightly by 4.61% in the past 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
The Earnings Per Share is expected to grow by 9.44% on average over the next years. This is quite good.
CNMD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.19% yearly.
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.
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
CNMD is valuated reasonably with a Price/Earnings ratio of 9.61.
Based on the Price/Earnings ratio, CNMD is valued cheaply inside the industry as 94.15% of the companies are valued more expensively.
CNMD is valuated cheaply when we compare the Price/Earnings ratio to 26.31, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 8.92, which indicates a very decent valuation of CNMD.
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 36.59, CNMD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.61 | ||
| Fwd PE | 8.92 |
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.
97.87% 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 | 9.04 | ||
| 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
PEG (5Y)1.02
EPS Next 2Y8.14%
EPS Next 3Y9.42%
5. Dividend
5.1 Amount
CNMD has a Yearly Dividend Yield of 1.83%.
In the last 3 months the price of CNMD has falen by -20.13%. 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 1.72. CNMD pays more dividend than 96.28% of the companies in the same industry.
CNMD's Dividend Yield is slightly below the S&P500 average, which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.83% |
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 2Y8.14%
EPS Next 3Y9.42%
43.42
-0.34 (-0.78%)
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 Cap1.34B
Revenue(TTM)1.35B
Net Income(TTM)64.32M
Analysts73.33
Price Target55.08 (26.85%)
Short Float %7.46%
Short Ratio5.57
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)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 | 9.61 | ||
| Fwd PE | 8.92 | ||
| P/S | 1 | ||
| P/FCF | 9.04 | ||
| P/OCF | 8.04 | ||
| P/B | 1.33 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.39 |
EPS(TTM)4.52
EY10.41%
EPS(NY)4.87
Fwd EY11.21%
FCF(TTM)4.8
FCFY11.06%
OCF(TTM)5.4
OCFY12.45%
SpS43.51
BVpS32.56
TBVpS-12.65
PEG (NY)1
PEG (5Y)1.02
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 9.61 and the Price/Book (PB) ratio is 1.33.
How financially healthy is CONMED CORP?
The financial health rating of CONMED CORP (CNMD) is 3 / 10.