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 $5.2B against $4.2B — 1.3× the size. Merit Medical Systems, Inc. trades at the lower P/E: 35.7× against 137×. 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 22 metrics below, Merit Medical Systems, Inc. leads on 17 and ICU Medical, Inc. on 5.

Valuation

Metric ICUI MMSI Medical Instruments & Supplies median
P/E 137.46 35.71 34.17
P/S 1.91 3.31 2.83
P/B 1.92 3.11 2.82
Price to free cash flow 26.97 26.14 25.69
EV/EBITDA 18.22 16.08 16.08
EV/Sales 2.34 3.49 3.06
Earnings yield 0.73% 2.80% (1.84%)
Free cash flow yield 3.71% 3.83% 0.17%

Profitability

Metric ICUI MMSI Medical Instruments & Supplies median
Gross margin 39.13% 49.51% 54.62%
Operating margin 3.34% 12.75% 1.64%
Net margin 1.39% 9.22% 0.00%
Free cash flow margin 7.08% 12.65% 1.61%
Return on equity 1.41% 9.19% 0.00%
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% 9.20%
EPS growth (last fiscal year) 100.62% 4.93% —
Revenue growth, 5-year CAGR 11.91% 9.48% 9.48%
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 0.08
Current ratio 2.43 4.20 2.49
Net debt to EBITDA 3.91 0.89 0.83

Dividend

Metric ICUI MMSI Medical Instruments & Supplies median
Dividend yield — — 0.99%
Payout ratio 0.00 0.00 0.00

Size

Metric ICUI MMSI Medical Instruments & Supplies median
Market cap 4.15b 5.21b 938.39m

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