Merit Medical Systems, Inc. (MMSI) vs Teleflex Incorporated (TFX)

Merit Medical Systems, Inc. and Teleflex Incorporated are both Medical Instruments & Supplies companies. Merit Medical Systems, Inc. and Teleflex Incorporated are of similar size ($5.4B and $5.4B). Teleflex Incorporated has negative trailing earnings, so its P/E is not meaningful; Merit Medical Systems, Inc. trades at 36.4×. Teleflex Incorporated grew revenue faster over the last twelve months: 110.9% against 10.2%. Merit Medical Systems, Inc. has the higher net margin (9.22% vs −45.8%) and the higher return on invested capital (6.40% vs 0.51%). Across the 20 metrics below, Merit Medical Systems, Inc. leads on 16 and Teleflex Incorporated on 4.

Valuation

Metric MMSI TFX Medical Instruments & Supplies median
P/E 36.41 n/m 33.75
P/S 3.37 2.52 2.52
P/B 3.17 1.96 2.48
Price to free cash flow 26.65 33.74 25.19
EV/EBITDA 16.38 31.97 14.62
EV/Sales 3.56 3.63 2.88
Earnings yield 2.75% (17.85%) (2.67%)
Free cash flow yield 3.75% 2.96% 0.09%

Profitability

Metric MMSI TFX Medical Instruments & Supplies median
Gross margin 49.51% 54.94% 54.29%
Operating margin 12.75% 1.97% 1.07%
Net margin 9.22% (45.76%) (1.61%)
Free cash flow margin 12.65% 7.47% 1.08%
Return on equity 9.19% (28.87%) (1.32%)
Return on assets 5.34% (14.57%) 0.00%
Return on invested capital 6.40% 0.51% 0.00%

Growth

Metric MMSI TFX Medical Instruments & Supplies median
Revenue growth (TTM) 10.19% 110.94% 8.85%
EPS growth (last fiscal year) 4.93% (1,468.24%) 8.65%
Revenue growth, 5-year CAGR 9.48% (4.72%) 9.17%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMSI TFX Medical Instruments & Supplies median
Debt to equity 0.44 0.97 0.10
Current ratio 4.20 2.60 2.48
Net debt to EBITDA 0.89 7.52 0.89

Dividend

Metric MMSI TFX Medical Instruments & Supplies median
Dividend yield — 1.04% 1.11%
Payout ratio — — 0.27

Size

Metric MMSI TFX Medical Instruments & Supplies median
Market cap 5.35b 5.43b 619.84m

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