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 $5.4B against $3.8B — 1.4× the size. Merit Medical Systems, Inc. trades at the lower P/E: 36.4× against 38.8×. 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 36.41 38.81 33.75
P/S 3.37 1.30 2.52
P/B 3.17 1.21 2.48
Price to free cash flow 26.65 14.89 25.19
EV/EBITDA 16.38 9.64 14.62
EV/Sales 3.56 1.45 2.88
Earnings yield 2.75% 2.58% (2.67%)
Free cash flow yield 3.75% 6.72% 0.09%

Profitability

Metric MMSI NVST Medical Instruments & Supplies median
Gross margin 49.51% 55.24% 54.29%
Operating margin 12.75% 9.58% 1.07%
Net margin 9.22% 3.33% (1.61%)
Free cash flow margin 12.65% 8.72% 1.08%
Return on equity 9.19% 3.06% (1.32%)
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% 8.85%
EPS growth (last fiscal year) 4.93% 104.31% 8.65%
Revenue growth, 5-year CAGR 9.48% 7.11% 9.17%
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 0.10
Current ratio 4.20 2.43 2.48
Net debt to EBITDA 0.89 0.64 0.89

Dividend

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

Size

Metric MMSI NVST Medical Instruments & Supplies median
Market cap 5.35b 3.77b 619.84m

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