Merit Medical Systems, Inc. logo MMSI - Merit Medical Systems, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 11
HOLD 2
SELL 1
STRONG
SELL
0
| PRICE TARGET: $95.00 DETAILS
HIGH: $107.00
LOW: $78.00
MEDIAN: $97.50
CONSENSUS: $95.00
UPSIDE: 48.04%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 1,514.7 1,356.5 1,257.4 1,151.0 1,074.8 963.9 994.9 882.8 727.9 603.8 542.1 509.7 449.0 394.3 359.4 296.8 257.5 227.1 207.8 190.7 166.6 151.4 136.0 116.2 104.0 91.4 78 68.4 60.6 50.5 42.6 33.3 25.4
Cost of Revenue 777.8 713.2 673.5 631.9 589.4 562.7 562.5 488.0 401.6 338.8 306.4 284.5 254.7 212.3 194.0 168.3 148.7 133.9 128.0 117.6 97.5 83.9 75.2 67.7 65.9 56.5 44.3 39.6 35.1 26.9 23.3 17.4 12.3
Gross Profit 736.9 643.3 583.9 519.1 485.3 401.2 432.4 394.8 326.3 265.0 235.8 225.2 194.4 182.0 165.5 128.5 108.8 93.3 79.8 73.1 69.1 67.5 60.7 48.5 38.1 34.9 33.7 28.8 25.5 23.6 19.3 15.9 13.1
Operating Expenses
R&D Expenses 97.4 83.8 82.7 75.5 71.2 57.5 65.6 59.5 51.4 45.2 40.8 36.6 33.9 27.8 21.9 15.3 11.2 9.2 8.7 8.6 7.0 5.1 4.6 4.0 4.1 3.9 3.6 3.2 4.4 2.5 2.3 2.1 0
SG&A Expenses 455.2 376.7 373.7 342.5 335.7 297.7 327.3 276.0 229.1 184.4 156.3 147.9 128.6 122.1 104.5 87.6 64.8 53.1 48.1 45.5 38.6 35.1 30.5 27.7 24.0 23.3 20.4 17.5 15.7 14.3 12.8 10.2 9.1
Other Expenses 0 27.1 3.5 13.5 17.5 47.5 24.0 0.1 (0.9) (0.8) (0.4) 0.0 (0.2) 0 0 0 0 0 0 0 0 0 0 0 0 4.3 3.6 2.8 2.7 2.4 1.7 1.6 1.4
Operating Expenses 552.6 487.6 458.7 431.5 424.4 402.7 416.9 335.6 280.5 229.6 197.2 184.5 162.5 149.9 126.4 103.0 76.0 62.3 56.8 54.1 45.6 40.1 35.1 31.7 28.2 31.5 27.6 23.5 22.8 19.2 16.8 13.9 10.5
Operating Income
Operating Income 184.4 155.7 123.9 87.6 60.9 (1.6) 15.4 58.6 33.1 34.9 37.5 40.2 27.8 29.6 33.2 17.2 32.8 31.0 23.0 19.0 23.5 27.3 25.6 16.8 9.9 3.5 6.1 5.3 2.7 4.4 2.5 2 2.6
Interest Expense 26.5 31.2 15.5 6.3 5.3 10.0 12.7 10.4 7.7 8.8 6.2 8.8 8.0 0.6 0.8 0.6 0.0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 15.1 26.2 2.5 0.4 0.8 0.6 0 1.2 0.4 0.1 0.3 0.2 0.3 0.2 0.1 0.0 0.2 0.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 319.0 274.0 228.9 181.2 155.0 103.6 119.3 129.4 97.3 78.7 74.9 76.3 60.4 50.8 52.9 32.2 45.4 42.1 32.4 19.0 23.5 27.3 30.4 21.2 14.5 7.8 9.7 8.1 5.4 6.8 4.2 3.6 4
EBIT 184.4 159.2 127.6 89.0 59.2 (3.2) 14.9 59.9 43.6 34.2 37.4 40.4 27.9 28.2 33.7 17.4 33.1 31.9 23.0 19.0 23.5 27.3 26.1 16.8 9.9 3.5 6.1 5.3 2.7 4.4 2.5 2 2.6
Income Before Tax 170.9 150.0 112.1 82.6 53.9 (13.2) 2.2 49.5 35.9 25.4 31.2 31.6 19.8 27.6 32.9 16.8 33.1 31.8 23.4 19.2 23.9 28.0 27.0 16.8 9.8 0.8 4.7 4.2 1.7 3.5 1.9 2.1 2.6
Income Tax Expense 42.4 29.6 17.7 8.1 5.5 (3.4) (3.3) 7.5 8.4 5.3 7.4 8.6 3.3 7.9 9.8 4.3 10.6 11.1 7.8 6.9 8.1 10.1 9.7 5.5 3.1 (0.1) 1.5 1.7 0.9 1.3 0.7 0.8 0.8
Net Income 128.5 120.4 94.4 74.5 48.5 (9.8) 5.5 42.0 27.5 20.1 23.8 23.0 16.6 19.7 23.0 12.5 22.5 20.7 15.6 12.3 15.8 17.9 17.3 11.3 6.7 0.8 3.2 2.5 0.8 2.2 1.2 1.3 1.8
Per Share Data
EPS (Basic) 2.17 2.07 1.64 1.31 0.86 -0.18 0.10 0.80 0.56 0.45 0.54 0.53 0.39 0.47 0.59 0.35 0.64 0.60 0.46 0.36 0.47 0.54 0.53 0.37 0.24 0.03 0.12 0.10 0.03 0.09 0.05 0.05 0.08
EPS (Diluted) 2.13 2.03 1.62 1.29 0.84 -0.18 0.10 0.78 0.55 0.45 0.53 0.53 0.39 0.46 0.58 0.34 0.63 0.58 0.44 0.35 0.46 0.52 0.51 0.34 0.23 0.03 0.12 0.10 0.03 0.09 0.05 0.05 0.08
Shares Outstanding 59.2 58.2 57.6 56.8 56.1 55.4 55.1 52.3 48.8 44.4 44.0 43.1 42.6 42.2 39.1 35.3 35.0 34.7 34.3 34.2 33.6 32.9 31.6 30.1 28.2 26.8 26.2 25.8 25.3 24.5 23.1 23.8 22.3
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 448.5 376.7 587.0 58.4 67.8 56.9 44.3 67.4 32.3 19.2 6.1 34.0 33.0 30.2 9.7 0.3 0.4 0.7 0.9 1 1.3 0.3 0.2 0.9
Short-Term Investments 0 0 2.1 0 0 0 0 0 0 0 0 0 0 0.6 0.2 0.1 0 0 0 0 0 0 0 0
Net Receivables 223.6 209.2 189.3 178.4 172.8 158.0 168.5 150.0 116.2 86.6 32.2 29.3 19.9 18.4 16.8 15.1 14.4 13.1 11.1 10.6 8.1 7.6 7.7 6.8
Inventory 333.7 306.1 303.9 266.0 221.9 198.0 225.7 197.5 155.3 120.7 47.2 38.4 23.1 21.3 18.7 20.8 25.3 27.6 17.8 14.5 13.9 12.2 8.4 5.9
Other Current Assets 29.4 28.5 22.2 22.3 16.1 13.1 12.5 11.3 0 14.4 3.3 2.8 0.1 0.2 0.1 0.7 1.8 1.8 1.3 1.4 1.2 1 0.4 0.2
Total Current Assets 1,040.2 923.8 1,108.5 529.1 482.2 429.7 454.5 429.8 316.1 243.4 91.2 105.5 76.9 71.5 46.2 37.6 42.0 43.2 31.1 27.5 24.5 21.1 16.7 13.8
Non-Current Assets
Property, Plant & Equipment 516.0 451.7 446.6 448.2 437.6 461.0 459.0 331.5 292.8 276.6 114.6 103.9 52.5 29.2 25.4 21.8 21.8 22 17 15.5 15 11.6 8.7 5.4
Goodwill 506.8 463.5 382.2 359.8 361.7 363.5 353.2 335.4 238.1 211.9 33.0 13.0 0 0 4.8 4.8 0 0 0 0 0 0 0 0
Intangible Assets 537.7 498.3 325.9 275.9 319.3 367.9 445.3 462.7 227.3 181.7 26.9 6.9 7.6 6.6 1.9 2.4 7.6 7.1 2.5 2.2 1.8 1.5 1.1 0.8
Long-Term Investments 45.7 22.8 19.1 15.6 14.7 12.0 17.1 5.9 5.7 5.0 (11.3) 0 (0.2) 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 32.6 42.5 35.7 28.8 26.7 25.6 24.3 51.7 29.3 24.0 5.8 2.4 3.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.4 0.3 0.5 0.5
Total Non-Current Assets 1,645.8 1,494.8 1,216.8 1,134.9 1,166.1 1,234.7 1,302.8 1,190.2 795.7 699.4 180.4 126.3 63.0 35.8 32.1 29.1 29.5 29.2 19.6 17.8 17.2 13.4 10.3 6.7
Total Assets 2,685.9 2,418.6 2,325.2 1,664.0 1,648.3 1,664.4 1,757.3 1,620.0 1,111.8 942.8 271.5 231.8 139.9 107.3 78.3 66.7 71.4 72.4 50.7 45.3 41.7 34.5 27 20.5
Current Liabilities
Account Payables 60.6 68.5 65.9 68.5 55.6 49.8 54.6 54.0 34.9 30.6 13.4 10.6 10.7 5.7 4.1 4.7 4.8 4.7 3.6 3.4 2.7 3.1 2.5 1.1
Short-Term Debt 10.9 0 0 22.3 19.1 20.4 19.1 22 19.5 10 7 0 0.0 0.0 0.4 0.6 1.1 5.7 9.4 6.4 5.9 6.6 3.8 1.5
Deferred Revenue 0 0 0 0 0 0 0 0 0 0.6 12.3 0 8.7 8.6 6.6 4.8 0 0 0 0 0 0 0 0
Other Current Liabilities 75.3 134.1 53.2 42.5 77.4 48.2 44.4 58.2 27.9 0 6.2 4.9 2.7 0.8 0.4 0.6 3.6 (1.2) 2.3 2.9 3.1 1.9 1.4 1
Total Current Liabilities 239.8 216.4 203.6 220.6 236.3 185.0 181.7 175.3 115.6 88.3 32.9 21.2 21.9 14.5 11.6 10.7 9.5 9.2 15.3 12.7 11.7 11.6 7.7 3.6
Non-Current Liabilities
Long-Term Debt 810.7 729.6 823.0 186.8 234.4 343.7 432.0 373.2 259.0 314.4 0 0 0.0 0 0.0 5.7 24.0 27.8 3.4 3.9 4.8 1.8 0.8 0.8
Deferred Tax Liabilities 19.7 0.2 5.5 18.5 31.5 33.3 45.2 56.4 23.3 26.0 11.3 8.8 2.6 3.0 2.4 1.7 2.2 0 1.3 0.9 0.9 0.6 0.4 0.2
Other Non-Current Liabilities (46.6) 36.8 33.3 32.3 43.0 70.9 73.7 80.1 35.2 13.4 6.3 5.2 1.7 1.5 0.9 0.9 1.0 2.7 1.1 1.6 1.4 1 0.5 0.2
Total Non-Current Liabilities 861.9 822.8 919.7 298.9 372.2 520.8 625.7 511.9 319.9 356.3 19.8 16.3 6.9 4.5 3.3 8.3 27.1 30.5 5.8 6.4 7.1 3.4 1.7 1.2
Total Liabilities 1,101.6 1,039.2 1,123.2 519.6 608.5 705.8 807.4 687.2 435.5 444.6 52.7 37.5 28.8 19.1 14.9 19.0 36.7 39.7 21.1 19.1 18.8 15 9.4 4.8
Stockholders' Equity
Common Stock 763.9 703.2 638.1 675.2 641.5 606.2 587.0 571.4 353.4 206.2 63.7 61.7 42.6 37.7 30.3 26.0 19.8 18.4 0 0 0 0 0 0
Retained Earnings 824.0 695.5 575.2 480.8 406.3 357.8 368.2 363.4 321.4 293.9 155.2 132.7 68.9 51.0 33.7 22.4 15.6 14.8 11.6 9.1 8.3 6.2 4.9 3.7
Accumulated Other Comprehensive Income (3.6) (19.4) (11.3) (11.6) (8.0) (5.5) (5.3) (2.0) 1.5 (1.9) (0.1) (0.1) (0.4) (0.4) (0.5) (0.7) (0.6) (0.5) 0 0 0 0 0 0
Total Stockholders' Equity 1,584.3 1,379.4 1,202 1,144.4 1,039.8 958.6 949.9 932.8 676.3 498.2 218.8 194.3 111.1 88.2 63.4 47.7 34.8 32.7 29.1 25.8 22.5 19.3 17.5 15.7
Total Liabilities & Equity 2,685.9 2,418.6 2,325.2 1,664.0 1,648.3 1,664.4 1,757.3 1,620.0 1,111.8 942.8 271.5 231.8 139.9 107.3 78.3 66.7 71.4 72.4 50.7 45.3 41.7 34.5 27 20.5
Debt Metrics
Total Debt 898.2 794.7 891.4 279.8 325.7 448.0 535.3 395.2 278.5 324.4 7 0.4 0.0 0.0 0.4 6.3 25.1 33.5 12.8 10.3 10.7 8.4 4.6 2.3
Net Debt 449.7 417.9 304.3 221.3 257.9 391.1 491.0 327.8 246.1 305.2 0.9 (33.7) (33.0) (30.2) (9.3) 6.0 24.7 32.8 11.9 9.3 9.4 8.1 4.4 1.4
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 128.5 120.4 94.4 74.5 48.5 (9.8) 5.5 42.0 27.5 20.1 15.8 17.9 17.3 11.3 6.7 0.8 3.2 2.5 0.8 2.2 1.2 1.3 1.8
Depreciation & Amortization 134.6 114.7 101.3 92.2 95.8 106.8 104.4 69.5 53.6 43.8 5.6 4.5 4.2 4.4 4.6 4.3 3.6 2.8 2.7 2.4 1.7 1.6 1.4
Stock-Based Compensation 43.5 28.5 21.3 18.0 16.1 14.3 9.4 6.1 4.1 2.5 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (23.3) (36.9) (70.0) (71.4) (17.8) 34.2 (55.7) (35.9) (24.2) (13.0) (15.6) 4.6 (1.4) 1.3 5.3 1.4 (7.2) (4.3) (2.1) (1.6) (4.8) (2.9) (2.1)
Other Non-Cash Items 8.9 9.1 10.8 15.9 9.4 31.0 26.8 2.7 3.0 1.2 2.7 3.1 4.2 3.1 1.8 0.2 (0.1) 0.1 0.3 0.4 0.1 0.4 0
Operating Cash Flow 297.4 220.8 145.2 114.3 147.2 165.3 77.8 86.5 62.7 53.6 11.1 30.0 24.8 21.4 18.4 7.1 0.3 1.7 1.7 3.4 (1.8) 0.4 1.2
Investing Activities
Capital Expenditure (81.7) (38.0) (36.7) (45.0) (27.9) (49.3) (81.5) (66.3) (41.2) (35.1) (40.7) (27.9) (8.2) (8.0) (4.1) (4.7) (16.3) (4.2) (1.1) (2.7) (2.5) (3.5) (1.4)
Acquisitions (144.8) (320.2) (137.8) (8.3) (7.2) (9.7) (53.9) (301.8) (105.6) (125.2) (2.3) (0.8) 0 0 0 (0.6) 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 35.1 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 1.1 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (102.6) (48.5) (0.8) (4.1) (2.1) 0.3 0.9 (10.7) 0.0 (35.0) (0.7) (0.4) 0.5 (0.1) 0.7 0.9 0 0.1 (0.5) (0.5) 1.8 (0.5) (2.1)
Investing Cash Flow (247.4) (368.7) (175.3) (57.4) (37.2) (58.7) (134.5) (378.8) (146.8) (159.1) (43.8) (29.1) (7.7) (8.0) (3.4) (4.4) (16.3) (4.1) (1.6) (3.2) (0.7) (4) (3.5)
Financing Activities
Net Debt Issuance 0 (99.1) 619.6 (44.9) (108.5) (88.4) 44.5 116.5 (46.4) 117.4 (0.0) (0.0) (0.4) (5.9) (19.0) (4.1) 16.3 1.5 (1.6) (0.2) 1.7 2.3 1
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) 0 0 0 0 0 0 0 (0.1)
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (12.2) (1.9) (75.9) (35.4) (11.2) (14.0) (17.2) (3.2) (0.9) (1.6) 0.7 0.1 0.9 (0.0) 0.2 0 0.1 0 (0.1) 0 0.4 (0.1) (0.1)
Financing Cash Flow 16.0 (60.0) 559.3 (60.3) (98.4) (95.7) 33.5 328.3 96.5 121.1 4.3 1.8 3.2 (4.2) (15.0) (2.9) 16.4 2.1 0.1 0.8 2.6 2.9 1.5
Cash Position
Net Change in Cash 69.8 (210.4) 528.6 (7.2) 10.8 12.6 (23.0) 35.0 13.2 15.0 (28.4) 2.8 20.5 9.3 (0.1) (0.3) (0.2) (0.1) (0.3) (0.3) (0.2) (0.9) (1.6)
Cash at Beginning 378.8 589.1 60.6 67.8 56.9 44.3 67.4 32.3 19.2 4.2 33.0 30.2 9.7 0.3 0.4 0.7 0.9 1 1.3 0.3 0.2 0.9 1.6
Cash at End 448.5 378.8 589.1 60.6 67.8 56.9 44.3 67.4 32.3 19.2 4.6 33.0 30.2 9.7 0.3 0.4 0.7 0.9 1 0 0 0 0
Free Cash Flow 215.7 182.8 108.5 69.3 119.3 116.0 (3.7) 20.2 21.5 18.5 (29.6) 2.1 16.7 13.4 14.3 2.4 (16) (2.5) 0.6 0.7 (4.3) (3.1) (0.2)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 1,514.7 1,356.5 1,257.4 1,151.0 1,074.8 963.9 994.9 882.8 727.9 603.8 542.1 509.7 449.0 394.3 359.4 296.8 257.5 227.1 207.8 190.7 166.6 151.4 136.0 116.2 104.0 91.4 78 68.4 60.6 50.5 42.6 33.3 25.4
Gross Profit 736.9 643.3 583.9 519.1 485.3 401.2 432.4 394.8 326.3 265.0 235.8 225.2 194.4 182.0 165.5 128.5 108.8 93.3 79.8 73.1 69.1 67.5 60.7 48.5 38.1 34.9 33.7 28.8 25.5 23.6 19.3 15.9 13.1
Operating Income 184.4 155.7 123.9 87.6 60.9 (1.6) 15.4 58.6 33.1 34.9 37.5 40.2 27.8 29.6 33.2 17.2 32.8 31.0 23.0 19.0 23.5 27.3 25.6 16.8 9.9 3.5 6.1 5.3 2.7 4.4 2.5 2 2.6
Net Income 128.5 120.4 94.4 74.5 48.5 (9.8) 5.5 42.0 27.5 20.1 23.8 23.0 16.6 19.7 23.0 12.5 22.5 20.7 15.6 12.3 15.8 17.9 17.3 11.3 6.7 0.8 3.2 2.5 0.8 2.2 1.2 1.3 1.8
EPS (Diluted) 2.13 2.03 1.62 1.29 0.84 -0.18 0.10 0.78 0.55 0.45 0.53 0.53 0.39 0.46 0.58 0.34 0.63 0.58 0.44 0.35 0.46 0.52 0.51 0.34 0.23 0.03 0.12 0.10 0.03 0.09 0.05 0.05 0.08
Balance Sheet
Cash & Equivalents 448.5 376.7 587.0 58.4 67.8 56.9 44.3 67.4 32.3 19.2 6.1 34.0 33.0 30.2 9.7 0.3 0.4 0.7 0.9 1 1.3 0.3 0.2 0.9
Total Assets 2,685.9 2,418.6 2,325.2 1,664.0 1,648.3 1,664.4 1,757.3 1,620.0 1,111.8 942.8 271.5 231.8 139.9 107.3 78.3 66.7 71.4 72.4 50.7 45.3 41.7 34.5 27 20.5
Total Debt 898.2 794.7 891.4 279.8 325.7 448.0 535.3 395.2 278.5 324.4 7 0.4 0.0 0.0 0.4 6.3 25.1 33.5 12.8 10.3 10.7 8.4 4.6 2.3
Stockholders' Equity 1,584.3 1,379.4 1,202 1,144.4 1,039.8 958.6 949.9 932.8 676.3 498.2 218.8 194.3 111.1 88.2 63.4 47.7 34.8 32.7 29.1 25.8 22.5 19.3 17.5 15.7
Cash Flow
Operating Cash Flow 297.4 220.8 145.2 114.3 147.2 165.3 77.8 86.5 62.7 53.6 11.1 30.0 24.8 21.4 18.4 7.1 0.3 1.7 1.7 3.4 (1.8) 0.4 1.2
Capital Expenditure (81.7) (38.0) (36.7) (45.0) (27.9) (49.3) (81.5) (66.3) (41.2) (35.1) (40.7) (27.9) (8.2) (8.0) (4.1) (4.7) (16.3) (4.2) (1.1) (2.7) (2.5) (3.5) (1.4)
Free Cash Flow 215.7 182.8 108.5 69.3 119.3 116.0 (3.7) 20.2 21.5 18.5 (29.6) 2.1 16.7 13.4 14.3 2.4 (16) (2.5) 0.6 0.7 (4.3) (3.1) (0.2)