MERIT MEDICAL SYSTEMS INC MMSI

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

Merit Medical Systems, Inc. is a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. We strive to be the most customer-focused company in healthcare. Each day we are determined to make a difference by understanding our customers' needs and innovating and delivering a diverse range of products that improve the lives of people and communities throughout the world. We believe that long-term value is created for our customers, employees, shareholders, and communities when we focus outward and are determined to deliver an exceptional customer experience.

Last close 93.30 2026-10-23
Market cap $5.57B 2026-06-30 share count
52-week range 59.74 - 94.75

Valuation FY2025 figures against the last close

P/S3.7x
P/E43.8x
P/FCF25.8x
EV/EBITDA19.0x
Dividend yield—
Diluted EPS2.13

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.52B$1.36B$1.26B$1.15B$1.07B$963.9M$994.9M$882.8M$727.9M$603.8M
Cost of revenue $777.6M$713.2M$673.5M$631.9M$589.4M$562.7M$562.5M$488.0M$401.6M$338.8M
Gross profit $738.3M$643.3M$583.9M$519.1M$485.3M$401.2M$432.4M$394.8M$326.3M$265.0M
R&D ———————$59.5M$51.4M$45.2M
SG&A $455.2M$399.7M$373.7M$342.5M$335.7M$297.7M$327.3M$276.0M$229.1M$184.4M
Total operating expenses $553.5M$487.6M$459.9M$431.5M$424.4M$402.7M$416.9M$336.2M$293.2M$230.1M
Operating income $184.7M$155.7M$123.9M$87.6M$60.9M-$1.6M$15.4M$58.6M$33.1M$34.9M
Interest expense $26.5M$31.2M$15.5M$6.3M$5.3M$10.0M$12.4M$10.4M$7.7M$8.8M
Pre-tax income $170.9M$150.0M$112.1M$82.6M$53.9M-$13.2M$2.2M$49.5M$35.9M$25.4M
Income tax $42.4M$29.6M$17.7M$8.1M$5.5M$3.4M$3.3M$7.5M$8.4M$5.3M
Net income $128.5M$120.4M$94.4M$74.5M$48.5M-$9.8M$5.5M$42.0M$27.5M$20.1M
EPS, basic 2.172.071.641.310.86-0.180.100.800.560.45
EPS, diluted 2.132.031.621.290.84-0.180.100.780.550.45
Shares, diluted (wtd. avg.) 60.5M59.4M58.4M57.7M57.4M55.4M56.2M53.9M50.1M44.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $446.4M$376.7M$587.0M$60.6M$67.8M$56.9M$44.3M$67.4M$32.3M$19.2M
Receivables $203.7M$190.2M$177.9M$164.7M$152.3M$146.6M$155.4M$137.2M$105.5M$80.5M
Inventory $333.7M$306.1M$303.9M$266.0M$221.9M$198.0M$225.7M$197.5M$155.3M$120.7M
Total current assets $1.04B$923.8M$1.11B$529.1M$482.2M$429.7M$454.5M$429.8M$316.1M$243.4M
Property, plant and equipment $428.4M$386.2M$383.5M$383.0M$371.7M$382.7M$378.8M$331.5M$292.8M$276.6M
Goodwill $506.8M$463.5M$382.2M$359.8M$361.7M$363.5M$353.2M$335.4M$238.1M$211.9M
Total assets $2.69B$2.42B$2.33B$1.66B$1.65B$1.66B$1.76B$1.62B$1.11B$942.8M
Short-term debt ———$11.2M$8.4M$7.5M$7.5M$22.0M$19.5M$10.0M
Total current liabilities $239.8M$216.4M$203.6M$220.6M$236.3M$185.0M$181.7M$175.3M$115.6M$88.3M
Long-term debt $734.0M$729.6M$823.0M$186.8M$234.4M$343.7M$432.0M$373.2M$259.0M$314.4M
Total liabilities $1.10B$1.04B$1.12B$519.6M$608.5M$705.8M$807.4M$687.2M$435.5M$444.6M
Retained earnings $824.0M$695.5M$575.2M$480.8M$406.3M$357.8M$368.2M$363.4M$321.4M$293.9M
Total equity $1.58B$1.38B$1.20B$1.14B$1.04B$958.6M$949.9M$932.8M$676.3M$498.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $297.4M$220.8M$145.2M$114.3M$147.2M$165.3M$77.8M$86.5M$62.7M$53.6M
Depreciation and amortisation $123.2M$102.7M$90.0M$81.8M$84.1M$94.1M$92.1M$69.5M$53.6M$43.8M
Stock-based compensation $43.5M$28.5M$21.3M$18.0M$16.1M$14.3M$9.4M$6.1M$4.1M$2.5M
Capital expenditure $81.7M$35.1M$34.3M$45.0M$27.9M$46.0M$78.2M$63.3M$38.6M$32.8M
Investing cash flow -$247.4M-$368.7M-$175.3M-$57.4M-$37.2M-$58.7M-$134.5M-$378.8M-$146.8M-$159.1M
Financing cash flow $16.0M-$60.0M$559.3M-$60.3M-$98.4M-$95.7M$33.5M$328.3M$96.5M$121.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000856982-26-000008.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B 2B Revenue, FY2016: 603.8M Gross profit, FY2016: 265M Net income, FY2016: 20.1M Revenue, FY2017: 727.9M Gross profit, FY2017: 326.3M Net income, FY2017: 27.5M Revenue, FY2018: 882.8M Gross profit, FY2018: 394.8M Net income, FY2018: 42M Revenue, FY2019: 994.9M Gross profit, FY2019: 432.4M Net income, FY2019: 5.5M Revenue, FY2020: 963.9M Gross profit, FY2020: 401.2M Net income, FY2020: -9.8M Revenue, FY2021: 1.1B Gross profit, FY2021: 485.3M Net income, FY2021: 48.5M Revenue, FY2022: 1.2B Gross profit, FY2022: 519.1M Net income, FY2022: 74.5M Revenue, FY2023: 1.3B Gross profit, FY2023: 583.9M Net income, FY2023: 94.4M Revenue, FY2024: 1.4B Gross profit, FY2024: 643.3M Net income, FY2024: 120.4M Revenue, FY2025: 1.5B Gross profit, FY2025: 738.3M Net income, FY2025: 128.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $603.8M $727.9M $882.8M $994.9M $963.9M $1.07B $1.15B $1.26B $1.36B $1.52B
Gross profit $265.0M $326.3M $394.8M $432.4M $401.2M $485.3M $519.1M $583.9M $643.3M $738.3M
Net income $20.1M $27.5M $42.0M $5.5M -$9.8M $48.5M $74.5M $94.4M $120.4M $128.5M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 3841

TickerCompanyMarket capP/ERevenue growth
SYK STRYKER CORP $117.81B 36.6x 11.2%
MMM 3M CO $89.46B 28.9x 1.5%
BSX BOSTON SCIENTIFIC CORP $66.22B 23.6x 19.9%
BDX BECTON DICKINSON & CO $54.18B 34.2x 8.2%
RMD RESMED INC $36.48B 24.2x 9.9%
DXCM DEXCOM INC $29.41B 37.3x 15.6%
MDLN Medline Inc. $29.20B — 11.5%
WST WEST PHARMACEUTICAL SERVICES INC $27.60B 57.8x 6.3%