MERIT MEDICAL SYSTEMS INC (MMSI) Fundamental Analysis & Valuation

NASDAQ:MMSI • US5898891040

Current stock price

67.87 USD
-0.36 (-0.53%)
Last:

This MMSI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. MMSI Profitability Analysis

1.1 Basic Checks

  • In the past year MMSI was profitable.
  • In the past year MMSI had a positive cash flow from operations.
  • MMSI had positive earnings in each of the past 5 years.
  • MMSI had a positive operating cash flow in each of the past 5 years.
MMSI Yearly Net Income VS EBIT VS OCF VS FCFMMSI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M

1.2 Ratios

  • MMSI has a better Return On Assets (4.78%) than 80.32% of its industry peers.
  • MMSI has a better Return On Equity (8.11%) than 79.26% of its industry peers.
  • MMSI has a better Return On Invested Capital (6.07%) than 79.26% of its industry peers.
  • MMSI had an Average Return On Invested Capital over the past 3 years of 5.57%. This is below the industry average of 9.36%.
  • The 3 year average ROIC (5.57%) for MMSI is below the current ROIC(6.07%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.78%
ROE 8.11%
ROIC 6.07%
ROA(3y)4.61%
ROA(5y)4.25%
ROE(3y)8.23%
ROE(5y)7.17%
ROIC(3y)5.57%
ROIC(5y)5.14%
MMSI Yearly ROA, ROE, ROICMMSI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8

1.3 Margins

  • MMSI has a Profit Margin of 8.48%. This is amongst the best in the industry. MMSI outperforms 80.85% of its industry peers.
  • In the last couple of years the Profit Margin of MMSI has grown nicely.
  • The Operating Margin of MMSI (12.60%) is better than 79.79% of its industry peers.
  • In the last couple of years the Operating Margin of MMSI has grown nicely.
  • The Gross Margin of MMSI (48.70%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of MMSI has grown nicely.
Industry RankSector Rank
OM 12.6%
PM (TTM) 8.48%
GM 48.7%
OM growth 3Y17.72%
OM growth 5Y18.01%
PM growth 3Y9.41%
PM growth 5YN/A
GM growth 3Y2.59%
GM growth 5Y3.19%
MMSI Yearly Profit, Operating, Gross MarginsMMSI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. MMSI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MMSI is destroying value.
  • MMSI has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, MMSI has more shares outstanding
  • MMSI has a better debt/assets ratio than last year.
MMSI Yearly Shares OutstandingMMSI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
MMSI Yearly Total Debt VS Total AssetsMMSI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

2.2 Solvency

  • An Altman-Z score of 3.79 indicates that MMSI is not in any danger for bankruptcy at the moment.
  • MMSI's Altman-Z score of 3.79 is fine compared to the rest of the industry. MMSI outperforms 72.34% of its industry peers.
  • MMSI has a debt to FCF ratio of 3.45. This is a good value and a sign of high solvency as MMSI would need 3.45 years to pay back of all of its debts.
  • The Debt to FCF ratio of MMSI (3.45) is better than 81.38% of its industry peers.
  • MMSI has a Debt/Equity ratio of 0.46. This is a healthy value indicating a solid balance between debt and equity.
  • MMSI's Debt to Equity ratio of 0.46 is in line compared to the rest of the industry. MMSI outperforms 45.21% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF 3.45
Altman-Z 3.79
ROIC/WACC0.61
WACC10%
MMSI Yearly LT Debt VS Equity VS FCFMMSI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 4.34 indicates that MMSI has no problem at all paying its short term obligations.
  • With a decent Current ratio value of 4.34, MMSI is doing good in the industry, outperforming 70.74% of the companies in the same industry.
  • A Quick Ratio of 2.95 indicates that MMSI has no problem at all paying its short term obligations.
  • The Quick ratio of MMSI (2.95) is better than 63.30% of its industry peers.
Industry RankSector Rank
Current Ratio 4.34
Quick Ratio 2.95
MMSI Yearly Current Assets VS Current LiabilitesMMSI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. MMSI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 10.06% over the past year.
  • The Earnings Per Share has been growing by 18.34% on average over the past years. This is quite good.
  • The Revenue has grown by 11.75% in the past year. This is quite good.
  • MMSI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.48% yearly.
EPS 1Y (TTM)10.06%
EPS 3Y12.5%
EPS 5Y18.34%
EPS Q2Q%11.83%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y9.61%
Revenue growth 5Y9.48%
Sales Q2Q%10.92%

3.2 Future

  • MMSI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.85% yearly.
  • The Revenue is expected to grow by 6.40% on average over the next years.
EPS Next Y8.19%
EPS Next 2Y8.2%
EPS Next 3Y7.37%
EPS Next 5Y6.85%
Revenue Next Year6.94%
Revenue Next 2Y6.32%
Revenue Next 3Y5.95%
Revenue Next 5Y6.4%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
MMSI Yearly Revenue VS EstimatesMMSI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B 2B
MMSI Yearly EPS VS EstimatesMMSI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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Find the best growth stocksShow best growing peers

6

4. MMSI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.72, MMSI is valued on the expensive side.
  • Based on the Price/Earnings ratio, MMSI is valued cheaper than 80.85% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.51. MMSI is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 16.38, which indicates a correct valuation of MMSI.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of MMSI indicates a rather cheap valuation: MMSI is cheaper than 83.51% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.76, MMSI is valued a bit cheaper.
Industry RankSector Rank
PE 17.72
Fwd PE 16.38
MMSI Price Earnings VS Forward Price EarningsMMSI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MMSI indicates a rather cheap valuation: MMSI is cheaper than 81.38% of the companies listed in the same industry.
  • 89.36% of the companies in the same industry are more expensive than MMSI, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 18.98
EV/EBITDA 13.82
MMSI Per share dataMMSI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • MMSI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.16
PEG (5Y)0.97
EPS Next 2Y8.2%
EPS Next 3Y7.37%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. MMSI Dividend Analysis

5.1 Amount

  • No dividends for MMSI!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

MMSI Fundamentals: All Metrics, Ratios and Statistics

MERIT MEDICAL SYSTEMS INC

NASDAQ:MMSI (4/2/2026, 1:08:04 PM)

67.87

-0.36 (-0.53%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-24
Earnings (Next)04-23
Inst Owners106.93%
Inst Owner Change-34.95%
Ins Owners0.41%
Ins Owner Change9.14%
Market Cap4.03B
Revenue(TTM)1.52B
Net Income(TTM)128.49M
Analysts84.44
Price Target104.55 (54.04%)
Short Float %5.84%
Short Ratio4.4
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.64%
Min EPS beat(2)6.87%
Max EPS beat(2)8.41%
EPS beat(4)4
Avg EPS beat(4)11.07%
Min EPS beat(4)6.87%
Max EPS beat(4)16.43%
EPS beat(8)8
Avg EPS beat(8)8.59%
EPS beat(12)12
Avg EPS beat(12)8.9%
EPS beat(16)16
Avg EPS beat(16)11.03%
Revenue beat(2)1
Avg Revenue beat(2)0.16%
Min Revenue beat(2)-0.94%
Max Revenue beat(2)1.27%
Revenue beat(4)2
Avg Revenue beat(4)-0.11%
Min Revenue beat(4)-1.19%
Max Revenue beat(4)1.27%
Revenue beat(8)3
Avg Revenue beat(8)-0.27%
Revenue beat(12)6
Avg Revenue beat(12)0.27%
Revenue beat(16)9
Avg Revenue beat(16)0.68%
PT rev (1m)-1.44%
PT rev (3m)-0.92%
EPS NQ rev (1m)-6.94%
EPS NQ rev (3m)-6.3%
EPS NY rev (1m)0.4%
EPS NY rev (3m)1.26%
Revenue NQ rev (1m)-0.53%
Revenue NQ rev (3m)-0.19%
Revenue NY rev (1m)0.73%
Revenue NY rev (3m)0.73%
Valuation
Industry RankSector Rank
PE 17.72
Fwd PE 16.38
P/S 2.66
P/FCF 18.98
P/OCF 13.56
P/B 2.55
P/tB 7.47
EV/EBITDA 13.82
EPS(TTM)3.83
EY5.64%
EPS(NY)4.14
Fwd EY6.11%
FCF(TTM)3.58
FCFY5.27%
OCF(TTM)5
OCFY7.37%
SpS25.51
BVpS26.66
TBVpS9.08
PEG (NY)2.16
PEG (5Y)0.97
Graham Number47.93
Profitability
Industry RankSector Rank
ROA 4.78%
ROE 8.11%
ROCE 7.81%
ROIC 6.07%
ROICexc 7.42%
ROICexgc 15.54%
OM 12.6%
PM (TTM) 8.48%
GM 48.7%
FCFM 14.02%
ROA(3y)4.61%
ROA(5y)4.25%
ROE(3y)8.23%
ROE(5y)7.17%
ROIC(3y)5.57%
ROIC(5y)5.14%
ROICexc(3y)7.03%
ROICexc(5y)6.1%
ROICexgc(3y)14.25%
ROICexgc(5y)12.17%
ROCE(3y)7.17%
ROCE(5y)6.61%
ROICexgc growth 3Y19%
ROICexgc growth 5Y21.1%
ROICexc growth 3Y14.16%
ROICexc growth 5Y20.69%
OM growth 3Y17.72%
OM growth 5Y18.01%
PM growth 3Y9.41%
PM growth 5YN/A
GM growth 3Y2.59%
GM growth 5Y3.19%
F-Score7
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 0.46
Debt/FCF 3.45
Debt/EBITDA 2.34
Cap/Depr 68.88%
Cap/Sales 5.6%
Interest Coverage 9.1
Cash Conversion 94.65%
Profit Quality 165.41%
Current Ratio 4.34
Quick Ratio 2.95
Altman-Z 3.79
F-Score7
WACC10%
ROIC/WACC0.61
Cap/Depr(3y)48.9%
Cap/Depr(5y)47.67%
Cap/Sales(3y)3.77%
Cap/Sales(5y)3.62%
Profit Quality(3y)144.04%
Profit Quality(5y)153.03%
High Growth Momentum
Growth
EPS 1Y (TTM)10.06%
EPS 3Y12.5%
EPS 5Y18.34%
EPS Q2Q%11.83%
EPS Next Y8.19%
EPS Next 2Y8.2%
EPS Next 3Y7.37%
EPS Next 5Y6.85%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y9.61%
Revenue growth 5Y9.48%
Sales Q2Q%10.92%
Revenue Next Year6.94%
Revenue Next 2Y6.32%
Revenue Next 3Y5.95%
Revenue Next 5Y6.4%
EBIT growth 1Y16.34%
EBIT growth 3Y29.03%
EBIT growth 5Y29.19%
EBIT Next Year32.4%
EBIT Next 3Y16.34%
EBIT Next 5Y13.39%
FCF growth 1Y16.29%
FCF growth 3Y45.29%
FCF growth 5Y12.87%
OCF growth 1Y34.68%
OCF growth 3Y37.54%
OCF growth 5Y12.46%

MERIT MEDICAL SYSTEMS INC / MMSI Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for MERIT MEDICAL SYSTEMS INC?

ChartMill assigns a fundamental rating of 6 / 10 to MMSI.


What is the valuation status for MMSI stock?

ChartMill assigns a valuation rating of 6 / 10 to MERIT MEDICAL SYSTEMS INC (MMSI). This can be considered as Fairly Valued.


Can you provide the profitability details for MERIT MEDICAL SYSTEMS INC?

MERIT MEDICAL SYSTEMS INC (MMSI) has a profitability rating of 8 / 10.


What is the earnings growth outlook for MERIT MEDICAL SYSTEMS INC?

The Earnings per Share (EPS) of MERIT MEDICAL SYSTEMS INC (MMSI) is expected to grow by 8.19% in the next year.