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

Merit Medical Systems, Inc. and Teleflex Incorporated are both Medical Instruments & Supplies companies. Teleflex Incorporated is the larger, with a market value of $6.5B against $5.4B — 1.2× the size. Teleflex Incorporated has negative trailing earnings, so its P/E is not meaningful; Merit Medical Systems, Inc. trades at 33.2×. Teleflex Incorporated grew revenue faster over the last twelve months: 30.7% against 9.06%. Merit Medical Systems, Inc. has the higher net margin (9.94% vs −45.8%) and the higher return on invested capital (6.87% 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 33.20 n/m 30.28
P/S 3.31 2.94 2.49
P/B 3.06 2.28 2.34
Price to free cash flow 23.64 124.77 23.49
EV/EBITDA 15.50 35.66 14.87
EV/Sales 3.46 4.05 2.75
Earnings yield 3.01% (15.30%) 0.00%
Free cash flow yield 4.23% 0.80% 0.59%

Profitability

Metric MMSI TFX Medical Instruments & Supplies median
Gross margin 49.41% 54.94% 53.60%
Operating margin 13.50% 1.97% 1.97%
Net margin 9.94% (45.76%) 0.00%
Free cash flow margin 14.01% 2.36% 2.36%
Return on equity 9.78% (28.87%) 0.00%
Return on assets 5.76% (14.57%) 0.00%
Return on invested capital 6.87% 0.51% 0.13%

Growth

Metric MMSI TFX Medical Instruments & Supplies median
Revenue growth (TTM) 9.06% 30.70% 8.97%
EPS growth (last fiscal year) 4.93% (1,468.24%) 6.51%
Revenue growth, 5-year CAGR 9.48% (4.72%) 8.85%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMSI TFX Medical Instruments & Supplies median
Debt to equity 0.42 0.97 0.10
Current ratio 4.52 2.60 2.47
Net debt to EBITDA 0.89 7.52 0.97

Dividend

Metric MMSI TFX Medical Instruments & Supplies median
Dividend yield — 0.89% 1.02%
Payout ratio — — 0.27

Size

Metric MMSI TFX Medical Instruments & Supplies median
Market cap 5.37b 6.45b 1.71b

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