Merit Medical [MMSI] vs Baxter International [BAX] Detailed Stock Comparison

Merit Medical Systems, Inc.

NASDAQ
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Baxter International Inc.

NYSE
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TLDR: Quick Comparison Summary

Based on 21 vital metrics comparison: Merit Medical Systems, Inc. wins in 12 metrics, Baxter International Inc. wins in 8 metrics, with 0 ties. Merit Medical Systems, Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Merit Medical Systems, Inc. Baxter International Inc. Better
P/E Ratio (TTM) 32.73 86.31 Merit Medical Systems, Inc.
Price-to-Book Ratio 2.62 1.54 Baxter International Inc.
Debt-to-Equity Ratio 51.86 160.28 Merit Medical Systems, Inc.
PEG Ratio 0.98 0.73 Baxter International Inc.
EV/EBITDA 14.25 8.55 Baxter International Inc.
Profit Margin (TTM) 8.48% -8.51% Merit Medical Systems, Inc.
Operating Margin (TTM) 15.79% 7.36% Merit Medical Systems, Inc.
EBITDA Margin (TTM) 15.79% 7.36% Merit Medical Systems, Inc.
Return on Equity 8.67% -13.71% Merit Medical Systems, Inc.
Return on Assets (TTM) 4.75% 2.83% Merit Medical Systems, Inc.
Free Cash Flow (TTM) $212.54M $323.00M Baxter International Inc.
Dividend Yield N/A 1.77% N/A
1-Year Return -28.44% -31.87% Merit Medical Systems, Inc.
Price-to-Sales Ratio (TTM) 2.74 0.85 Baxter International Inc.
Enterprise Value $4.52B $17.26B Baxter International Inc.
EV/Revenue Ratio 2.98 1.54 Baxter International Inc.
Gross Profit Margin (TTM) 49.59% 19.40% Merit Medical Systems, Inc.
Revenue per Share (TTM) $26 $22 Merit Medical Systems, Inc.
Earnings per Share (Diluted) $2.13 $-1.75 Merit Medical Systems, Inc.
Beta (Stock Volatility) 0.65 0.62 Baxter International Inc.
Short % of Float 6.92% 12.33% Merit Medical Systems, Inc.

Merit Medical Systems, Inc. vs Baxter International Inc. Stock Performance Analysis

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MMSI
BAX

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Merit Medical Systems, Inc.0.62%1.38%9.09%-3.22%-22.53%-22.57%
Baxter International Inc.-0.24%8.16%20.29%21.84%6.55%6.72%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Merit Medical Systems, Inc.-28.44%-20.11%10.44%251.45%269.61%604.02%
Baxter International Inc.-31.87%-54.01%-74.19%-53.06%-34.17%1.07%

Performance & Financial Health Analysis: Merit Medical Systems, Inc. vs Baxter International Inc.

MetricMMSIBAX
Market Information
Market Cap i$4.09B$9.38B
Market Cap CategoryMid capMid cap
10 Day Avg. Volume i517,0266,387,585
90 Day Avg. Volume i736,8327,931,785
Last Close$66.94$20.81
52 Week Range$59.74 - $96.74$15.73 - $31.76
% from 52W High-30.80%-34.48%
All-Time High$111.45 (Jan 27, 2025)$95.19 (Apr 20, 2020)
% from All-Time High-39.94%-78.14%
Growth Metrics
Quarterly Revenue Growth0.11%0.08%
Quarterly Earnings Growth0.36%0.08%
Financial Health
Profit Margin (TTM) i0.08%-0.09%
Operating Margin (TTM) i0.16%0.07%
Return on Equity (TTM) i0.09%-0.14%
Debt to Equity (MRQ) i51.86160.28
Cash & Liquidity
Book Value per Share (MRQ)$26.66$11.92
Cash per Share (MRQ)$7.51$3.82
Operating Cash Flow (TTM) i$297.37M$845.00M
Levered Free Cash Flow (TTM) i$179.71M$2.43B
Dividends
Last 12-Month Dividend Yield iN/A1.77%
Last 12-Month Dividend iN/A$0.36

Valuation & Enterprise Metrics Analysis: Merit Medical Systems, Inc. vs Baxter International Inc.

MetricMMSI (Apr 24, 2026)BAX (Apr 26, 2026)
Price Ratios
P/E Ratio (TTM) i32.7386.31
Forward P/E i15.889.09
PEG Ratio i0.980.73
Price to Sales (TTM) i2.740.85
Price to Book (MRQ) i2.621.54
Market Capitalization
Market Capitalization i$4.09B$9.38B
Enterprise Value i$4.52B$17.26B
Enterprise Value Metrics
Enterprise to Revenue i2.981.54
Enterprise to EBITDA i14.258.55
Risk & Other Metrics
Beta i0.650.62
Book Value per Share (MRQ) i$26.66$11.92

Financial Statements Comparison: Merit Medical Systems, Inc. vs Baxter International Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricMMSI (2025)BAX (2025)
Revenue/Sales i1.52B11.24B
Cost of Goods Sold i777.64M7.87B
COGS % of Revenue i51.3%69.9%
Gross Profit i738.27M3.38B
Gross Margin i48.7%30.1%
Research & Development i97.35M518.00M
Operating Income (EBIT) i185.70M177.00M
Operating Margin i12.3%1.6%
EBITDA i333.03M1.26B
EBITDA Margin i22.0%11.2%
Pre-Tax Income i170.94M-505.00M
Pre-Tax Income % of Revenue i11.3%-4.5%
Income Tax i42.45M395.00M
Income Tax % of Revenue i2.8%3.5%
Net Income (Profit) i128.49M-957.00M
Profit Margin i8.5%-8.5%

Balance Sheet & Liquidity Metrics

MetricMMSI (2025)BAX (2025)
Cash & Equivalents i446.40M1.97B
Total Current Assets i1.04B6.87B
Total Current Assets % of Revenue i68.6%61.1%
Total Current Liabilities i239.76M2.97B
Total Current Liabilities % of Revenue i15.8%26.4%
Long-Term Debt i810.70M9.70B
Long-Term Debt % of Revenue i53.5%86.2%
Total Shareholders Equity i1.58B6.10B
Retained Earnings i824.03M13.71B
Retained Earnings % of Revenue i54.4%121.9%
Property, Plant & Equipment i452.88M651.00M

Cash Flow Statement Comparison

MetricMMSI (2025)BAX (2025)
Operating Cash Flow i279.65M-24.00M
Operating Cash Flow % of Revenue i18.4%-0.2%
Capital Expenditures iN/AN/A
Free Cash Flow i212.54M323.00M
FCF Margin i14.0%2.9%
Debt Repayment i0-5.79B
Common Stock Repurchase iN/AN/A

Short Interest & Institutional Ownership Analysis

MetricMMSIBAX
Shares Short i3.05M40.31M
Short Ratio i3.654.11
Short % of Float i6.92%12.33%
Shares Outstanding i59.42M514.28M
Float Shares i58.09M512.05M
% Held by Insiders i2.37%0.32%
% Held by Institutions i107.03%109.89%
% Held by Public i-9.40%-10.21%

Dividend Analysis & Yield Comparison: Merit Medical Systems, Inc. vs Baxter International Inc.

MetricMMSIBAX
Last 12-Month Dividend iN/A$0.36
Last 12-Month Dividend Yield iN/A1.77%
3-Year Avg Annual Dividend iN/A$0.81
3-Year Avg Dividend Yield iN/A0.57%
3-Year Total Dividends iN/A$2.44
Ex-Dividend DateN/AFeb 27, 2026