Merit Medical Systems, Inc. (MMSI) vs Pulse Biosciences, Inc (PLSE)

Merit Medical Systems, Inc. and Pulse Biosciences, Inc are both Medical Instruments & Supplies companies. Merit Medical Systems, Inc. is the larger, with a market value of $5.2B against $3.8B — 1.4× the size. Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; Merit Medical Systems, Inc. trades at 35.7×. Merit Medical Systems, Inc. grew revenue faster over the last twelve months: 10.2% against −23.3%. Merit Medical Systems, Inc. has the higher net margin (9.22% vs −6,755.8%) and the higher return on invested capital (6.40% vs 0.00%). Across the 17 metrics below, Merit Medical Systems, Inc. leads on 15 and Pulse Biosciences, Inc on 2.

Valuation

Metric MMSI PLSE Medical Instruments & Supplies median
P/E 35.71 n/m 34.17
P/S 3.31 3,023.78 2.83
P/B 3.11 36.01 2.82
Price to free cash flow 26.14 n/m 25.69
EV/EBITDA 16.08 n/m 16.08
EV/Sales 3.49 2,945.94 3.06
Earnings yield 2.80% (2.28%) (1.84%)
Free cash flow yield 3.83% (1.71%) 0.17%

Profitability

Metric MMSI PLSE Medical Instruments & Supplies median
Gross margin 49.51% 0.25% 54.62%
Operating margin 12.75% (7,007.76%) 1.64%
Net margin 9.22% (6,755.78%) 0.00%
Free cash flow margin 12.65% (5,180.42%) 1.61%
Return on equity 9.19% (78.49%) 0.00%
Return on assets 5.34% (67.90%) 0.00%
Return on invested capital 6.40% 0.00% 0.00%

Growth

Metric MMSI PLSE Medical Instruments & Supplies median
Revenue growth (TTM) 10.19% (23.25%) 9.20%
EPS growth (last fiscal year) 4.93% (17.39%) —
Revenue growth, 5-year CAGR 9.48% — 9.48%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMSI PLSE Medical Instruments & Supplies median
Debt to equity 0.44 0.00 0.08
Current ratio 4.20 9.63 2.49
Net debt to EBITDA 0.89 1.06 0.83

Dividend

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

Size

Metric MMSI PLSE Medical Instruments & Supplies median
Market cap 5.21b 3.77b 938.39m

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