MiniMed Group, Inc. (MMED) vs Merit Medical Systems, Inc. (MMSI)

MiniMed Group, Inc. and Merit Medical Systems, Inc. are both Medical Instruments & Supplies companies. MiniMed Group, Inc. and Merit Medical Systems, Inc. are of similar size ($5.4B and $5.1B). MiniMed Group, Inc. has negative trailing earnings, so its P/E is not meaningful; Merit Medical Systems, Inc. trades at 33.2×. Merit Medical Systems, Inc. has the higher net margin (9.94% vs −4.86%) and the higher return on invested capital (6.87% vs −1.61%). Across the 16 metrics below, Merit Medical Systems, Inc. leads on 11 and MiniMed Group, Inc. on 5.

Valuation

Metric MMED MMSI Medical Instruments & Supplies median
P/E n/m 33.20 30.28
P/S 1.68 3.31 2.49
P/B 1.42 3.06 2.34
Price to free cash flow n/m 23.64 23.49
EV/EBITDA n/m 15.50 14.87
EV/Sales 1.62 3.46 2.75
Earnings yield (3.24%) 3.01% 0.00%
Free cash flow yield (8.82%) 4.23% 0.59%

Profitability

Metric MMED MMSI Medical Instruments & Supplies median
Gross margin 53.60% 49.41% 53.60%
Operating margin (2.89%) 13.50% 1.97%
Net margin (4.86%) 9.94% 0.00%
Free cash flow margin (14.85%) 14.01% 2.36%
Return on equity 0.00% 9.78% 0.00%
Return on assets (6.27%) 5.76% 0.00%
Return on invested capital (1.61%) 6.87% 0.13%

Growth

Metric MMED MMSI Medical Instruments & Supplies median
Revenue growth (TTM) — 9.06% 8.97%
EPS growth (last fiscal year) (53.57%) 4.93% 6.51%
Revenue growth, 5-year CAGR — 9.48% 8.85%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric MMED MMSI Medical Instruments & Supplies median
Debt to equity 0.00 0.42 0.10
Current ratio 1.81 4.52 2.47
Net debt to EBITDA 8.76 0.89 0.97

Dividend

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

Size

Metric MMED MMSI Medical Instruments & Supplies median
Market cap 5.11b 5.37b 1.71b

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