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: 33.2× against 69.3×. Merit Medical Systems, Inc. grew revenue faster over the last twelve months: 9.06% against −5.92%. Merit Medical Systems, Inc. has the higher net margin (9.94% vs 2.76%) and the higher return on invested capital (6.87% vs 2.27%). Across the 22 metrics below, Merit Medical Systems, Inc. leads on 15 and ICU Medical, Inc. on 7.

Valuation

Metric ICUI MMSI Medical Instruments & Supplies median
P/E 69.28 33.20 30.28
P/S 1.91 3.31 2.49
P/B 1.91 3.06 2.34
Price to free cash flow 21.22 23.64 23.49
EV/EBITDA 16.00 15.50 14.87
EV/Sales 2.30 3.46 2.75
Earnings yield 1.44% 3.01% 0.00%
Free cash flow yield 4.71% 4.23% 0.59%

Profitability

Metric ICUI MMSI Medical Instruments & Supplies median
Gross margin 40.27% 49.41% 53.60%
Operating margin 5.07% 13.50% 1.97%
Net margin 2.76% 9.94% 0.00%
Free cash flow margin 12.47% 14.01% 2.36%
Return on equity 2.79% 9.78% 0.00%
Return on assets 1.50% 5.76% 0.00%
Return on invested capital 2.27% 6.87% 0.13%

Growth

Metric ICUI MMSI Medical Instruments & Supplies median
Revenue growth (TTM) (5.92%) 9.06% 8.97%
EPS growth (last fiscal year) 100.62% 4.93% 6.51%
Revenue growth, 5-year CAGR 11.91% 9.48% 8.85%
Net income growth, 5-year CAGR (61.53%) 0.00% 0.00%

Health

Metric ICUI MMSI Medical Instruments & Supplies median
Debt to equity 0.53 0.42 0.10
Current ratio 2.37 4.52 2.47
Net debt to EBITDA 3.91 0.89 0.97

Dividend

Metric ICUI MMSI Medical Instruments & Supplies median
Dividend yield — — 1.02%
Payout ratio — — 0.27

Size

Metric ICUI MMSI Medical Instruments & Supplies median
Market cap 4.19b 5.37b 1.71b

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