Merit Medical Systems, Inc. (MMSI) vs Envista Holdings Corporation (NVST)

Merit Medical Systems, Inc. and Envista Holdings Corporation are both Medical Instruments & Supplies companies. Merit Medical Systems, Inc. is the larger, with a market value of $5.2B against $3.9B — 1.3× the size. Merit Medical Systems, Inc. trades at the lower P/E: 35.7× against 40.6×. Envista Holdings Corporation grew revenue faster over the last twelve months: 11.9% against 10.2%. Merit Medical Systems, Inc. has the higher net margin (9.22% vs 3.33%) and the higher return on invested capital (6.40% vs 5.05%). Across the 22 metrics below, Merit Medical Systems, Inc. leads on 11 and Envista Holdings Corporation on 11.

Valuation

Metric MMSI NVST Medical Instruments & Supplies median
P/E 35.71 40.59 34.17
P/S 3.31 1.36 2.83
P/B 3.11 1.26 2.82
Price to free cash flow 26.14 15.57 25.69
EV/EBITDA 16.08 10.04 16.08
EV/Sales 3.49 1.51 3.06
Earnings yield 2.80% 2.46% (1.84%)
Free cash flow yield 3.83% 6.42% 0.17%

Profitability

Metric MMSI NVST Medical Instruments & Supplies median
Gross margin 49.51% 55.24% 54.62%
Operating margin 12.75% 9.58% 1.64%
Net margin 9.22% 3.33% 0.00%
Free cash flow margin 12.65% 8.72% 1.61%
Return on equity 9.19% 3.06% 0.00%
Return on assets 5.34% 1.69% 0.00%
Return on invested capital 6.40% 5.05% 0.00%

Growth

Metric MMSI NVST Medical Instruments & Supplies median
Revenue growth (TTM) 10.19% 11.89% 9.20%
EPS growth (last fiscal year) 4.93% 104.31% —
Revenue growth, 5-year CAGR 9.48% 7.11% 9.48%
Net income growth, 5-year CAGR 0.00% 7.13% 0.00%

Health

Metric MMSI NVST Medical Instruments & Supplies median
Debt to equity 0.44 0.47 0.08
Current ratio 4.20 2.43 2.49
Net debt to EBITDA 0.89 0.64 0.83

Dividend

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

Size

Metric MMSI NVST Medical Instruments & Supplies median
Market cap 5.21b 3.87b 938.39m

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