ICU Medical, Inc. (ICUI) vs Merit Medical Systems, Inc. (MMSI)

ICU Medical, Inc. and Merit Medical Systems, Inc. are both Medical Instruments & Supplies companies. Merit Medical Systems, Inc. is the larger, with a market value of $5.4B against $4.2B — 1.3× the size. Merit Medical Systems, Inc. trades at the lower P/E: 36.4× against 136×. Merit Medical Systems, Inc. grew revenue faster over the last twelve months: 10.2% against −8.97%. Merit Medical Systems, Inc. has the higher net margin (9.22% vs 1.39%) and the higher return on invested capital (6.40% vs 1.46%). Across the 21 metrics below, Merit Medical Systems, Inc. leads on 16 and ICU Medical, Inc. on 5.

Valuation

Metric ICUI MMSI Medical Instruments & Supplies median
P/E 135.83 36.41 33.75
P/S 1.89 3.37 2.52
P/B 1.89 3.17 2.48
Price to free cash flow 26.65 26.65 25.19
EV/EBITDA 18.04 16.38 14.62
EV/Sales 2.32 3.56 2.88
Earnings yield 0.74% 2.75% (2.67%)
Free cash flow yield 3.75% 3.75% 0.09%

Profitability

Metric ICUI MMSI Medical Instruments & Supplies median
Gross margin 39.13% 49.51% 54.29%
Operating margin 3.34% 12.75% 1.07%
Net margin 1.39% 9.22% (1.61%)
Free cash flow margin 7.08% 12.65% 1.08%
Return on equity 1.41% 9.19% (1.32%)
Return on assets 0.74% 5.34% 0.00%
Return on invested capital 1.46% 6.40% 0.00%

Growth

Metric ICUI MMSI Medical Instruments & Supplies median
Revenue growth (TTM) (8.97%) 10.19% 8.85%
EPS growth (last fiscal year) 100.62% 4.93% 8.65%
Revenue growth, 5-year CAGR 11.91% 9.48% 9.17%
Net income growth, 5-year CAGR (61.53%) 0.00% 0.00%

Health

Metric ICUI MMSI Medical Instruments & Supplies median
Debt to equity 0.57 0.44 0.10
Current ratio 2.43 4.20 2.48
Net debt to EBITDA 3.91 0.89 0.89

Dividend

Metric ICUI MMSI Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric ICUI MMSI Medical Instruments & Supplies median
Market cap 4.18b 5.35b 619.84m

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