Merit Medical Systems
MMSI
85.09
+0.13
+0.15%
Merit Medical Systems
US · MMSI
#2114 by market cap
Listed 1970
85.09
+0.13
+0.15%
Live - 5344 symbols - heartbeat 97s ago
· 2026-10-08 08:40
Pre-market
84.09
-1.18%
After-hours
85.09
0.00%
- Market cap
- 5.08B
- P/E (TTM)i
- 35.02
- P/Bi
- 3.02
- EPSi
- 2.13
- Div yieldi
- 0.00%
- 52W posi
- 72%
Reader sentiment
Are you bullish or bearish on MMSI?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 4.35, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +11.75% YoY
Margins
- Gross margin
- 48.70%
- Operating margin
- 12.25%
- Net margin
- 8.48%
Key ratios & quality
- Enterprise valuei
- 5.38B
- PEG ratioi
- 1.76
- Altman Z-Scorei
- 4.35
PEG uses trailing P/E against the 3-year net income growth rate (19.91%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 882.75M | 994.85M | 963.88M | 1.07B | 1.15B | 1.26B | 1.36B | 1.52B |
| Gross profit | 394.77M | 432.37M | 401.18M | 485.33M | 519.10M | 583.87M | 643.33M | 738.27M |
| Selling & admin expenses | 276.02M | 327.27M | 297.72M | 335.69M | 342.53M | 373.68M | 399.73M | 455.21M |
| Research & development | 59.53M | 65.62M | 57.54M | 71.25M | 75.51M | 82.73M | 87.47M | 97.35M |
| Operating profit | 59.22M | 39.48M | 45.92M | 78.40M | 101.06M | 127.47M | 156.14M | 185.70M |
| Pretax profit | 49.52M | 2.19M | -13.23M | 53.92M | 82.63M | 112.09M | 149.99M | 170.94M |
| Tax | 7.50M | -3.26M | -3.39M | 5.46M | 8.11M | 17.68M | 29.64M | 42.45M |
| Net profit | 42.02M | 5.45M | -9.84M | 48.45M | 74.52M | 94.41M | 120.36M | 128.49M |
| Basic EPS | 1 | 0 | 0 | 1 | 1 | 2 | 2 | 2 |
| Diluted EPS | 0.78 | 0.10 | -0.18 | 0.84 | 1.29 | 1.62 | 2.03 | 2.13 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 355.35M | 382.46M | 384.16M | 393.94M | 381.88M | 418.84M |
| Gross profit | 172.02M | 184.49M | 186.41M | 195.35M | 184.80M | 215.17M |
| Selling & admin expenses | 107.49M | 113.10M | 119.80M | 114.83M | 118.21M | 129.23M |
| Research & development | 22.48M | 24.37M | 23.97M | 26.54M | 22.61M | 25.39M |
| Operating profit | 42.06M | 47.02M | 42.64M | 53.98M | 43.98M | 60.55M |
| Pretax profit | 37.96M | 43.38M | 38.54M | 51.06M | 53.55M | 51.31M |
| Tax | 7.81M | 10.80M | 10.79M | 13.05M | 12.55M | 12.51M |
| Net profit | 30.15M | 32.58M | 27.76M | 38.01M | 41.00M | 38.80M |
| Basic EPS | 1 | 1 | 0 | 1 | 1 | 1 |
| Diluted EPS | 0.49 | 0.54 | 0.46 | 0.63 | 0.68 | 0.65 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 429.83M | 454.54M | 429.71M | 482.21M | 529.08M | 1.11B | 923.77M | 1.04B |
| Cash & ST investments | 67.36M | 44.32M | 56.92M | 67.75M | 58.41M | 587.04M | 376.72M | 446.40M |
| Inventory | 197.54M | 225.70M | 198.02M | 221.92M | 265.99M | 303.87M | 306.06M | 333.71M |
| Total assets | 1.62B | 1.76B | 1.66B | 1.65B | 1.66B | 2.33B | 2.42B | 2.69B |
| Total current liabilities | 175.34M | 181.66M | 185.00M | 236.28M | 220.65M | 203.56M | 216.40M | 239.76M |
| Short-term debt | 22.00M | 19.05M | 20.40M | 19.11M | 22.26M | 12.09M | 10.33M | 10.88M |
| Long-term debt | 373.15M | 431.98M | 343.72M | 234.40M | 186.76M | 823.01M | 729.55M | 734.04M |
| Total liabilities | 687,237,000.00 | 807,377,000.00 | 705,821,000.00 | 608,495,000.00 | 519,569,000.00 | 1,123,244,000.00 | 1,039,244,000.00 | 1,101,619,000.00 |
| Total equity | 932.78M | 949.94M | 958.58M | 1.04B | 1.14B | 1.20B | 1.38B | 1.58B |
| Retained earnings | 363.43M | 368.22M | 357.80M | 406.26M | 480.77M | 575.18M | 695.54M | 824.03M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 958.64M | 923.07M | 985.53M | 1.04B | 1.10B | 1.11B |
| Cash & ST investments | 395.53M | 341.82M | 392.46M | 446.40M | 488.08M | 448.70M |
| Inventory | 317.94M | 323.31M | 326.55M | 333.71M | 352.39M | 374.11M |
| Total assets | 2.47B | 2.59B | 2.63B | 2.69B | 2.72B | 2.86B |
| Total current liabilities | 196.82M | 225.57M | 230.48M | 239.76M | 216.87M | 264.93M |
| Short-term debt | 9.44M | 10.26M | 10.61M | 10.88M | 11.23M | 10.92M |
| Long-term debt | 730.67M | 731.80M | 732.92M | 734.04M | 735.16M | 736.26M |
| Total liabilities | 1,039,550,000.00 | 1,097,997,000.00 | 1,101,590,000.00 | 1,101,619,000.00 | 1,092,556,000.00 | 1,183,816,000.00 |
| Total equity | 1.43B | 1.49B | 1.53B | 1.58B | 1.63B | 1.68B |
| Retained earnings | 725.69M | 758.27M | 786.02M | 824.03M | 865.03M | 903.83M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 86.53M | 77.81M | 165.27M | 147.23M | 114.29M | 145.15M | 220.80M | 297.37M |
| Depreciation & amortization | 69.55M | 104.36M | 106.82M | 95.78M | 92.20M | 101.29M | 114.73M | 134.65M |
| Free cash flow | 20.20M | -3.68M | 115.99M | 116.46M | 66.09M | 108.45M | 182.76M | 212.54M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 214.99M | 6.25M | 6.64M | 21.31M | 20.07M | 15.58M | 40.91M | 28.21M |
| Ending cash balance | 67.36M | 44.32M | 56.92M | 67.75M | 60.56M | 589.14M | 378.77M | 448.55M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 40.57M | 83.31M | 74.98M | 98.51M | 40.68M | 69.28M |
| Depreciation & amortization | 32.28M | 33.80M | 34.24M | 34.33M | 33.35M | 33.97M |
| Free cash flow | 19.05M | 68.72M | 51.51M | 73.25M | 23.92M | 51.09M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 13.15M | 6.86M | 2.17M | 6.03M | 2.78M | 1.85M |
| Ending cash balance | 397.60M | 343.92M | 394.56M | 448.55M | 490.25M | 450.91M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 5.22 | 0.58 | -1.03 | 4.85 | 6.82 | 8.05 | 9.33 | 8.67 |
| ROA %i | 3.08 | 0.32 | -0.58 | 2.93 | 4.50 | 4.73 | 5.07 | 5.03 |
| ROIC %i | 4.36 | 1.05 | -0.20 | 3.82 | 5.77 | 6.01 | 5.83 | 5.99 |
| 5-year avg ROE %i | 4.97 | 3.99 | 2.73 | 2.86 | 3.29 | 3.85 | 5.60 | 7.54 |
| EBIT margin %i | 6.78 | 1.50 | -0.34 | 5.51 | 7.73 | 10.15 | 13.36 | 13.02 |
| FCF / sales %i | 2.29 | -- | 12.03 | 10.84 | 5.74 | 8.63 | 13.47 | 14.02 |
| Current ratioi | 2.45 | 2.50 | 2.32 | 2.04 | 2.40 | 5.45 | 4.27 | 4.34 |
| Quick ratioi | 1.24 | 1.17 | 1.16 | 1.02 | 1.07 | 3.81 | 2.71 | 2.79 |
| Debt / assetsi | 24.39 | 29.80 | 26.14 | 19.11 | 16.15 | 38.33 | 32.86 | 30.59 |
| LT debt / equityi | 40.00 | 53.13 | 43.26 | 28.46 | 21.54 | 73.15 | 56.86 | 51.17 |
| Interest coveragei | 5.78 | 1.17 | -0.32 | 11.25 | 14.04 | 8.23 | 5.80 | 7.46 |
| Revenue CAGR (3Y) %i | 17.65 | 18.11 | 9.81 | 6.78 | 4.98 | 9.26 | 8.07 | 9.61 |
| Net income CAGR (3Y) %i | 20.86 | -35.29 | -- | 4.87 | 139.11 | -- | 35.43 | 19.91 |
| FCF CAGR (3Y) %i | 6.88 | -- | 75.31 | 79.32 | -- | -2.22 | 16.21 | 47.61 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 9.16 | 8.60 | 8.30 | 8.67 | 9.12 | 9.19 |
| ROA %i | 5.10 | 4.81 | 4.73 | 5.03 | 5.37 | 5.34 |
| ROIC %i | 5.87 | 5.69 | 5.69 | 5.99 | 6.29 | 6.57 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 13.21 | 12.56 | 12.26 | 13.02 | 13.81 | 14.33 |
| FCF / sales %i | 12.83 | 13.24 | 13.80 | 14.02 | 14.09 | 12.65 |
| Current ratioi | 4.87 | 4.09 | 4.28 | 4.34 | 5.08 | 4.20 |
| Quick ratioi | 3.11 | 2.51 | 2.71 | 2.79 | 3.30 | 2.64 |
| Debt / assetsi | 33.13 | 31.73 | 31.21 | 30.59 | 30.21 | 28.64 |
| LT debt / equityi | 56.58 | 54.45 | 53.00 | 51.17 | 49.81 | 48.17 |
| Interest coveragei | 6.16 | 6.24 | 6.45 | 7.46 | 8.06 | 7.12 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Foundational is the largest reported line at 67.08% of revenue, across 2 reported segments.
- Therapeutic follows at 32.92%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Foundational67.08%
Therapeutic32.92%
Quote time 2026-10-08 08:40:23 · For reference only, not investment advice and not tailored to your situation.