Merit Medical Systems, Inc. (MMSI) vs Stevanato Group S.p.A. (STVN)

Merit Medical Systems, Inc. and Stevanato Group S.p.A. are both Medical Instruments & Supplies companies. Merit Medical Systems, Inc. and Stevanato Group S.p.A. are of similar size ($5.4B and $5.3B). Stevanato Group S.p.A. trades at the lower P/E: 33.8× against 36.4×. Stevanato Group S.p.A. grew revenue faster over the last twelve months: 14.3% against 10.2%. Stevanato Group S.p.A. has the higher net margin (11.0% vs 9.22%) and the higher return on invested capital (6.56% vs 6.40%). Across the 21 metrics below, Stevanato Group S.p.A. leads on 14 and Merit Medical Systems, Inc. on 7.

Valuation

Metric MMSI STVN Medical Instruments & Supplies median
P/E 36.41 33.75 33.75
P/S 3.37 3.62 2.52
P/B 3.17 2.86 2.48
Price to free cash flow 26.65 n/m 25.19
EV/EBITDA 16.38 16.32 14.62
EV/Sales 3.56 3.91 2.88
Earnings yield 2.75% 2.96% (2.67%)
Free cash flow yield 3.75% (0.67%) 0.09%

Profitability

Metric MMSI STVN Medical Instruments & Supplies median
Gross margin 49.51% 29.13% 54.29%
Operating margin 12.75% 16.29% 1.07%
Net margin 9.22% 10.95% (1.61%)
Free cash flow margin 12.65% (2.43%) 1.08%
Return on equity 9.19% 9.21% (1.32%)
Return on assets 5.34% 5.46% 0.00%
Return on invested capital 6.40% 6.56% 0.00%

Growth

Metric MMSI STVN Medical Instruments & Supplies median
Revenue growth (TTM) 10.19% 14.28% 8.85%
EPS growth (last fiscal year) 4.93% 23.40% 8.65%
Revenue growth, 5-year CAGR 9.48% 12.16% 9.17%
Net income growth, 5-year CAGR 0.00% 12.02% 0.00%

Health

Metric MMSI STVN Medical Instruments & Supplies median
Debt to equity 0.44 0.29 0.10
Current ratio 4.20 1.61 2.48
Net debt to EBITDA 0.89 1.15 0.89

Dividend

Metric MMSI STVN Medical Instruments & Supplies median
Dividend yield — 0.33% 1.11%
Payout ratio — 0.11 0.27

Size

Metric MMSI STVN Medical Instruments & Supplies median
Market cap 5.35b 5.26b 619.84m

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