Merit Medical Systems, Inc. MMSI

87.50 0.20 0.23% as of 25 Sep
Market cap
$5.2B
P/E
35.7×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 0.57
Total sells 8.45
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — 5 — — — —
Sell — 4 — 1 — — — 1 — — 2 —
Insider Ownership 2.55%

Capital & Financial Ratios

Market Cap 5,210.00
Revenue 1,578.81
Net Income 145.56
Free Cash Flow 199.76
Net Debt 287.56
Current Ratio 4.20
Debt/Equity 0.44
P/E ratio 35.71
P/S ratio 3.31
P/B ratio 3.11
Past 5Y EPS Growth 83.71%
This Y EPS Growth 12.34%
Next Y EPS Growth 7.19%
Next 5Y EPS Growth 9.03%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 587 377 446 449
Receivables 193 212 229 256
Inventory 304 306 334 374
Other — — — —
1,108 924 1,040 1,112
2023 2024 2025 Q'26
Payables 66 69 61 71
ST’ Debt — — — —
Other — — — —
204 216 240 265
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 10.83% 9.48% 9.61%
Cash Flow 15.65% 12.47% 37.54%
Earnings 18.37% 0.00% 19.91%
Book Value 13.01% 10.57% 11.45%

Revenue

Mar Jun Sep Dec Year
’26 382 419 — — —
’25 355 382 384 394 1,516
’24 324 338 340 355 1,357
’23 298 320 315 325 1,257
’22 275 295 287 293 1,151
’21 249 280 267 278 1,075
’20 244 218 244 258 964
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 41 69 — — —
’25 41 83 75 99 297
’24 36 69 47 69 221
’23 15 17 51 62 145
’22 12 39 35 28 114
’21 35 41 25 46 147
’20 29 44 55 37 165
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 24 51 — — —
’25 19 69 52 73 213
’24 24 57 37 65 183
’23 2 11 42 54 108
’22 2 31 19 14 66
’21 29 34 18 37 117
’20 14 32 45 26 116
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.68 0.65 — — —
’25 0.49 0.54 0.46 0.63 2.13
’24 0.48 0.61 0.48 0.46 2.03
’23 0.36 0.35 0.44 0.47 1.62
’22 0.18 0.27 0.27 0.58 1.29
’21 0.19 0.09 0.21 0.36 0.84
’20 (0.06) (0.34) (0.05) 0.27 (0.18)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
15.47 24.23 41.55 19.50 25.18 52.43 50.46 62.58 70.70 78.12

Analyst estimates 2026–2028

Powerpack
Low Price
26.85 45.90 66.34 63.64 58.70 73.85 76.14 85.62 108.08 111.45
High Price
4,150 4,876 5,783 6,355 5,989 6,446 6,846 6,950 7,400 7,500
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
604 728 883 995 964 1,075 1,151 1,257 1,357 1,516
Revenue
43.89% 44.82% 44.72% 43.46% 41.62% 45.16% 45.10% 46.44% 47.43% 48.70%
Gross Margin
25 36 50 2 (13) 54 83 112 150 171
EBT
4.20% 4.93% 5.61% 0.22% (1.37%) 5.02% 7.18% 8.91% 11.06% 11.28%
EBT Margin
20 28 42 5 (10) 48 75 94 120 128
Net Income
45 54 70 105 107 96 93 103 121 140
Depreciation
13.60 14.91 16.89 18.06 17.39 19.14 20.26 21.83 23.30 25.62
Revenue/Sh
0.45 0.56 0.80 0.10 (0.18) 0.86 1.31 1.64 2.07 2.17
Earnings/Sh
1.21 1.29 1.66 1.41 2.98 2.62 2.01 2.52 3.79 5.03
Cash Flow/Sh
(0.79) (0.84) (1.27) (1.46) (0.89) (0.53) (0.85) (0.64) (0.65) (1.43)
Capex/Sh
0.42 0.44 0.39 (0.05) 2.09 2.09 1.16 1.88 3.14 3.59
Free CF/Sh
11.22 13.86 17.85 17.25 17.29 18.52 20.15 20.87 23.69 26.78
Book Value/Sh
44 49 52 55 55 56 57 58 58 59
Shares
58.22 73.81 69.76 346.89 0.00 72.44 53.13 46.57 46.72 40.62
PE Ratio
1.93 2.92 3.30 1.73 3.19 3.25 3.44 3.50 4.15 3.44
PS Ratio
2.34 3.14 3.13 1.81 3.21 3.36 3.45 3.66 4.08 3.29
PB Ratio
2.43 3.26 3.68 2.13 3.50 3.42 3.56 3.69 4.41 3.63
EV/Sales
79.12 110.06 160.22 (765.05) 29.06 31.26 61.88 42.77 32.76 25.90
EV/FCF
54 63 87 78 165 147 114 145 221 297
Op' Cash Flow
(35) (41) (66) (81) (49) (30) (48) (37) (38) (85)
Capex
19 22 20 (3) 116 117 66 108 183 213
FCF
155 201 254 273 245 246 308 905 707 800
Working Cap'
324 278 395 439 351 243 198 823 730 734
Total Debt
305 246 328 395 294 175 140 236 353 288
Net Debt
498 676 933 950 959 1,040 1,144 1,202 1,379 1,584
Sh' Equity
2.34% 2.68% 3.08% 0.32% (0.58%) 2.93% 4.50% 4.73% 5.07% 5.03%
ROA
2.71% 2.24% 2.91% 0.72% (0.08%) 3.13% 4.26% 5.39% 5.62% 6.17%
ROIC
4.17% 4.69% 5.22% 0.58% (1.03%) 4.85% 6.82% 8.05% 9.33% 8.67%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Merit Medical Systems, Inc. peers in Medical Instruments & Supplies

All 56 Medical Instruments & Supplies stocks →

Merit Medical Systems, Inc. (MMSI) key facts

  • Merit Medical Systems, Inc. (MMSI) is a Medical Instruments & Supplies company in the Healthcare sector, listed on Nasdaq.
  • Merit Medical Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 11.8% from fiscal 2024.
  • Net income was $128.5 million, or $2.17 per share (basic), a net margin of 8.48%.
  • As of September 25, 2026, MMSI traded at $87.50, a market capitalization of $5.2 billion.
  • At that price the stock trades at 35.7× trailing-twelve-month earnings and 3.3× sales.
  • Return on equity was 8.67% and debt-to-equity 0.44.

Source: company filings (standardised) and stockrow calculations.

Merit Medical Systems, Inc. (MMSI) Latest News

News by impact score

Fine-tune

21 Sep

3

Merit Medical Systems has outpaced the S&P 500 by 9.1% over six months, with MMSI at $85.50 (+25.5%) on solid quarterly results. Despite momentum, caution remains about its longer-term upside. Two headwinds are highlighted: limited distribution channels for a $1.58 billion-revenue business hinder scale in a heavily regulated healthcare market, and past growth initiatives yielded mediocre returns (five-year ROIC around 5.6%). The stock trades at about 19.6x forward earnings—fair, but not compelling enough to inspire lasting confidence in outperformance. Consequently, the piece suggests there are more attractive opportunities, rating MMSI as not a top pick and pointing readers toward other stocks, including semiconductor names and momentum plays. Limited scale and mediocre ROIC could cap growth and weigh on sentiment.

24 Aug

3

Merit Medical Systems stock gained 22.2% over the past month amid improving growth, raising questions about whether the advance can be sustained. Improving growth at Merit Medical Systems supports recent stock gains but questions remain on their continuation.

15 Aug

4

Merit Medical Systems develops new long-range plan amid accelerating growth and expanding margins. New long-range plan combined with growth and margin gains represents major strategic move likely to alter company trajectory.

3

Merit Medical advances its next growth plan with emphasis on margins and portfolio review. Focus on growth plans and portfolio review positions the company for potential operational enhancements.

7 Aug

4 transcript

Merit Medical Systems held its Q2 2026 earnings call to discuss financial results and operations. Q2 2026 earnings details and outlook can significantly shift MMSI valuation and investor sentiment.

4 Aug

3

Merit Medical Systems achieved balanced growth across platforms in Q2 alongside strategic portfolio expansion. Balanced growth and portfolio expansion moderately influence financial performance and competitive positioning without fundamentally altering long-term trajectory.

3 Aug

4

Merit Medical Systems reported earnings and raised its outlook, refocusing attention on the company's valuation. Earnings results combined with raised outlook signal stronger financial performance and growth prospects likely to shift investor sentiment and company trajectory.

31 Jul

4

Merit Medical Systems beat Q2 earnings and revenue estimates while raising its 2026 guidance. Q2 earnings beat combined with raised 2026 guidance indicates stronger growth outlook likely to lift stock valuation and investor sentiment.

4 transcript

Merit Medical Systems, Inc. (MMSI) held its Q2 2026 earnings call covering financial results and business outlook. Earnings call delivers financial metrics and guidance that directly shape stock valuation and future expectations.

4

Merit Medical Systems reported its strongest organic growth in Q2 2026 earnings call, driven by core business performance and operational execution. Strongest organic growth signals major positive shift in financial trajectory and investor outlook.

3

Merit Medical Systems reported Q2 financial results and provided operational updates during its earnings call. Q2 earnings call delivers financial metrics and guidance that moderately shape near-term investor sentiment for MMSI.

30 Jul

4

Merit Medical Systems reported bullish Q2 CY2026 results, causing its stock to soar. Bullish quarterly results directly strengthen financial outlook and investor sentiment for Merit Medical Systems.

4

Merit Medical Systems reported second quarter 2026 results and updated full-year 2026 guidance. Quarterly results with guidance updates directly drive valuation shifts and investor sentiment.

3

Merit Medical Systems exceeded Q2 earnings and revenue estimates. Quarterly earnings and revenue beats typically lift near-term investor sentiment and share price without altering long-term fundamentals.

3

Merit Medical Systems reported Q2 earnings, with key metrics compared to analyst estimates. Q2 earnings metrics versus estimates can shift investor assessment of financial results.

9 Jul

3

Merit Medical Systems (MMSI) stock recommended for immediate addition to portfolios on positive investment factors. Stock recommendation may moderately lift near-term investor sentiment without altering company fundamentals.

14 May

4

Merit Medical Systems (MMSI) beat Q1 earnings expectations and raised its 2026 revenue guidance, sparking potential positive investor reactions amid strong performance outlook. Q1 earnings beat combined with elevated 2026 revenue guidance indicates robust growth trajectory, significantly impacting stock valuation and investor sentiment.

2 May

4

Merit Medical Systems (MMSI) Q1 results feature oncology expansion and platform realignment boosting outlook. Oncology expansion and platform realignment represent major strategic shifts enhancing MMSI's growth and competitive positioning.

1 May

4

Merit Medical Systems (MMSI) reported first-quarter earnings and revenues that beat analyst estimates, while raising its full-year sales guidance. Beating Q1 earnings and revenue estimates with raised sales outlook indicates strong financial momentum and positive investor sentiment.

4 transcript

Merit Medical Systems (MMSI) released Q1 2026 earnings call transcript detailing quarterly financial results, operational updates, and forward guidance. Q1 2026 earnings transcript provides critical financial metrics, strategic insights, and outlook that significantly shape MMSI's trajectory and investor sentiment.

4

Merit Medical Systems Inc (MMSI) Q1 2026 earnings call highlighted strong revenue growth. Strong revenue growth in Q1 2026 signals significant positive impact on MMSI's financial trajectory and investor sentiment.

30 Apr

4

Merit Medical Systems, Inc. (MMSI) released Q1 2026 earnings call summary highlighting financial performance, growth metrics, and forward guidance. Q1 2026 earnings call summary reveals financial results and strategic outlook that can significantly sway MMSI's stock price and investor sentiment.

4

Merit Medical Systems reported Q1 earnings call highlights, including revenue growth, profitability metrics, strategic updates, and full-year guidance. Q1 earnings highlights detail financial results and outlook directly impacting stock performance and investor confidence.

4

Merit Medical Systems (MMSI) Q1 earnings and revenues beat analyst estimates. Q1 earnings and revenue beats signal strong financial health, likely driving positive stock performance and investor sentiment.

4

Merit Medical Systems (NASDAQ:MMSI) beat revenue expectations in Q1 CY2026, showcasing strong quarterly performance. Revenue beat in Q1 CY2026 highlights significant financial strength, poised to drive positive stock momentum and market positioning.

4

Merit Medical Systems, Inc. reported first quarter 2026 financial results and updated full-year guidance. Q1 results and full-year guidance update represent major financial milestones that significantly affect MMSI's trajectory and investor sentiment.

29 Apr

4

Merit Medical Systems (MMSI) reports earnings tomorrow, with analysts outlining expectations for revenue, EPS, and guidance amid focus on medical device performance and market conditions. Upcoming earnings report carries potential for significant stock volatility and shifts in market perception depending on results against consensus estimates.

20 Apr

4

Merit Medical Systems, Inc. (MMSI) acquires company to expand oncology portfolio, enhancing product offerings and prompting investor analysis of growth potential, risks, and market performance implications. Acquisition represents major strategic expansion into oncology, poised to significantly enhance MMSI's competitive positioning and long-term growth trajectory.

17 Apr

3

BTIG adjusted its financial model for Merit Medical Systems, Inc. (MMSI) in anticipation of upcoming Medicare payment changes. Medicare payment changes could moderately influence MMSI's financial performance and market sentiment through revised revenue projections.

15 Apr

3

Merit Medical Systems, Inc. (MMSI) stock merits retention in portfolios due to robust growth prospects, strong financial performance, and favorable market positioning. Retention recommendation highlights solid fundamentals supporting moderate positive influence on financial performance and investor sentiment.

stockrow.com/MMSI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com