Merit Medical Systems, Inc. | Mid-cap | Healthcare
$78.99
-4.23%
| Merit Medical Stock Comparison:
Merit Medical vs Intuitive SurgicalMerit Medical vs Becton, DickinsonMerit Medical vs Align TechnologyMerit Medical vs AvantorMerit Medical vs AptarGroupMerit Medical vs S&P 500 | Market
TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 355.4M
Gross Profit 172.0M 48.41%
Operating Income 42.1M 11.84%
Net Income 30.1M 8.48%
EPS (Diluted) $0.49

Balance Sheet Metrics

Total Assets 2.5B
Total Liabilities 1.0B
Shareholders Equity 1.4B
Debt to Equity 0.73

Cash Flow Metrics

Operating Cash Flow 57.2M
Free Cash Flow 19.1M

Revenue & Profitability Trend

Merit Medical Income Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Revenue i 1.4B 1.3B 1.2B 1.1B 963.9M
Cost of Goods Sold i 713.2M 673.5M 631.9M 589.4M 562.7M
Gross Profit i 643.3M 583.9M 519.1M 485.3M 401.2M
Gross Margin % i 47.4% 46.4% 45.1% 45.2% 41.6%
Operating Expenses
Research & Development i 87.5M 82.7M 75.5M 71.2M 57.5M
Selling, General & Administrative i 399.7M 373.7M 342.5M 335.7M 297.7M
Other Operating Expenses i - - - - -
Total Operating Expenses i 487.2M 456.4M 418.0M 406.9M 355.3M
Operating Income i 156.1M 127.5M 101.1M 78.4M 45.9M
Operating Margin % i 11.5% 10.1% 8.8% 7.3% 4.8%
Non-Operating Items
Interest Income i 26.2M 2.5M 439.0K 769.0K 604.0K
Interest Expense i 31.2M 15.5M 6.3M 5.3M 10.0M
Other Non-Operating Income -1.2M -2.3M -12.5M -20.0M -49.8M
Pre-tax Income i 150.0M 112.1M 82.6M 53.9M -13.2M
Income Tax i 29.6M 17.7M 8.1M 5.5M -3.4M
Effective Tax Rate % i 19.8% 15.8% 9.8% 10.1% 0.0%
Net Income i 120.4M 94.4M 74.5M 48.5M -9.8M
Net Margin % i 8.9% 7.5% 6.5% 4.5% -1.0%
Key Metrics
EBITDA i 296.4M 232.4M 194.7M 172.4M 151.1M
EPS (Basic) i $2.07 $1.64 $1.31 $0.86 $-0.18
EPS (Diluted) i $2.03 $1.62 $1.29 $0.84 $-0.18
Basic Shares Outstanding i 58218000 57593000 56806000 56145000 55434000
Diluted Shares Outstanding i 58218000 57593000 56806000 56145000 55434000

Income Statement Trend

Merit Medical Balance Sheet From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Assets
Current Assets
Cash & Equivalents i 376.7M 587.0M 58.4M 67.8M 56.9M
Short-term Investments i - - - - -
Accounts Receivable i 190.2M 177.9M 164.7M 152.3M 146.6M
Inventory i 306.1M 303.9M 266.0M 221.9M 198.0M
Other Current Assets 28.5M 24.3M 22.3M 16.1M 13.1M
Total Current Assets i 923.8M 1.1B 529.1M 482.2M 429.7M
Non-Current Assets
Property, Plant & Equipment i 406.4M 380.0M 364.4M 343.9M 347.1M
Goodwill i 1.4B 1.1B 995.5M 1.0B 1.1B
Intangible Assets i 498.3M 325.9M 275.9M 319.3M 367.9M
Long-term Investments - - - - -
Other Non-Current Assets 49.1M 39.8M 33.0M 30.4M 28.0M
Total Non-Current Assets i 1.5B 1.2B 1.1B 1.2B 1.2B
Total Assets i 2.4B 2.3B 1.7B 1.6B 1.7B
Liabilities
Current Liabilities
Accounts Payable i 68.5M 65.9M 68.5M 55.6M 49.8M
Short-term Debt i 10.3M 12.1M 22.3M 19.1M 20.4M
Current Portion of Long-term Debt - - - - -
Other Current Liabilities - - - - -
Total Current Liabilities i 216.4M 203.6M 220.6M 236.3M 185.0M
Non-Current Liabilities
Long-term Debt i 784.3M 879.3M 246.5M 295.9M 414.7M
Deferred Tax Liabilities i 240.0K 5.5M 18.5M 31.5M 33.3M
Other Non-Current Liabilities 17.6M 15.7M 16.6M 24.5M 53.8M
Total Non-Current Liabilities i 822.8M 919.7M 298.9M 372.2M 520.8M
Total Liabilities i 1.0B 1.1B 519.6M 608.5M 705.8M
Equity
Common Stock i 703.2M 638.2M 675.2M 641.5M 606.2M
Retained Earnings i 695.5M 575.2M 480.8M 406.3M 357.8M
Treasury Stock i - - - - -
Other Equity - - - - -
Total Shareholders Equity i 1.4B 1.2B 1.1B 1.0B 958.6M
Key Metrics
Total Debt i 794.7M 891.4M 268.8M 315.0M 435.1M
Working Capital i 707.4M 904.9M 308.4M 245.9M 244.7M

Balance Sheet Composition

Merit Medical Cash Flow Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Operating Activities
Net Income i 120.4M 94.4M 74.5M 48.5M -9.8M
Depreciation & Amortization i 114.7M 101.3M 92.2M 95.8M 106.8M
Stock-Based Compensation i 28.5M 21.3M 18.0M 16.1M 14.3M
Working Capital Changes i -41.3M -67.0M -57.4M -50.8M 30.3M
Operating Cash Flow i 214.5M 142.2M 124.2M 108.6M 123.1M
Investing Activities
Capital Expenditures i 5.0K 201.0K 65.0K 1.0M 42.0K
Acquisitions i -320.2M -137.8M -9.3M -7.2M -9.7M
Investment Purchases i - - - - -
Investment Sales i - - - - -
Investing Cash Flow i -330.6M -138.6M -9.2M -6.4M -9.4M
Financing Activities
Share Repurchases i - - - - -
Dividends Paid i - - - - -
Debt Issuance i 0 1.2B 215.2M 98.4M 68.6M
Debt Repayment i -99.1M -579.6M -260.1M -206.9M -157.0M
Financing Cash Flow i -60.0M 559.3M -60.3M -98.4M -95.7M
Free Cash Flow i 182.8M 108.4M 66.1M 116.5M 116.0M
Net Change in Cash i -176.1M 562.8M 54.8M 3.8M 18.0M

Cash Flow Trend

Merit Medical Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 41.98
Forward P/E 22.29
Price to Book 3.29
Price to Sales 3.42
PEG Ratio -4.27

Profitability Ratios

Profit Margin 8.31%
Operating Margin 12.30%
Return on Equity 8.60%
Return on Assets 4.19%

Financial Health

Current Ratio 4.09
Debt to Equity 55.14
Beta 0.58

Per Share Data

EPS (TTM) $1.97
Book Value per Share $25.13
Revenue per Share $24.41

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
mmsi 5.0B 41.98 3.29 8.60% 8.31% 55.14
Intuitive Surgical 163.8B 61.33 8.86 16.04% 28.51% 0.00
Becton, Dickinson 53.5B 34.63 2.13 6.18% 7.41% 75.93
Align Technology 9.1B 21.25 2.33 11.41% 11.04% 3.14
Avantor 9.6B 13.27 1.45 11.73% 10.31% 67.49
AptarGroup 8.6B 22.56 3.18 15.26% 10.84% 43.12

Financial data is updated regularly. All figures are in the company's reporting currency.