Merit Medical Systems, Inc.(MMSI)Earnings, Financials & Key Ratios

MMSI•NASDAQ

$60.44

$3.61B mkt cap·28.4× P/E·Price updated May 6, 2026

SectorHealthcare IndustryMedical Instruments Sub-IndustrySurgical and interventional devices

AboutMerit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures, primarily in cardiology, radiology, oncology, critical care, and endoscopy. The company operates in two segments, Cardiovascular and Endoscopy. It provides peripheral intervention products for the diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions. The company also offers custom procedural solutions that include critical care products, disinfection protection systems, syringes, manifold kits, and trays and packs; coated tubes and wires; and sensor components for microelectromechanical systems. In addition, it provides pulmonary products that consist of laser-cut tracheobronchial stents, over-the-wire and direct visualization delivery systems, and dilation balloons to endoscopically dilate strictures; gastroenterology products; and kits and accessories for endoscopy and bronchoscopy procedures. The company sells its products to hospitals and alternate site-based physicians, technicians, and nurses through direct sales force, distributors, original equipment manufacturer partners, or custom procedure tray manufacturers in the United States and internationally. Merit Medical Systems, Inc. was incorporated in 1987 and is headquartered in South Jordan, Utah.Show more

Revenue$1.51B+11.7%
EBITDA$319M+18.0%
Net Income$128M+6.8%
EPS (Diluted)2.13+4.9%
Gross Margin48.65%+2.6%
EBITDA Margin21.06%+5.6%
Operating Margin12.17%+6.1%
Net Margin8.48%-4.4%
ROE8.67%-7.0%
ROIC7.22%+2.1%
Debt/Equity0.57-1.6%
Interest Coverage6.97+36.6%

Technical→

MMSI Key Insights

Merit Medical Systems, Inc. (MMSI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak momentum: RS Rating 15 (bottom 15%)
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MMSI Price & Volume

Merit Medical Systems, Inc. (MMSI) stock price & volume — 10-year historical chart

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MMSI Growth Metrics

Merit Medical Systems, Inc. (MMSI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.82%

5 Years9.46%

3 Years9.59%

TTM11.17%

Profit CAGR

10 Years18.37%

5 Years-

3 Years19.91%

TTM13.96%

EPS CAGR

10 Years14.92%

5 Years-

3 Years18.19%

TTM13.24%

Return on Capital

10 Years4.62%

5 Years6.49%

3 Years7.36%

Last Year7.93%

MMSI Recent Earnings

Merit Medical Systems, Inc. (MMSI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (83%)

Q2 2026Latest

Apr 30, 2026

EPS

$0.94

Est $0.84

+11.9%

Revenue

$382M

Est $378M

+1.1%

Q1 2026

Feb 24, 2026

EPS

$1.04

Est $0.96

+8.3%

Revenue

$394M

Est $390M

+1.0%

Q4 2025

Oct 30, 2025

EPS

$0.92

Est $0.82

+12.2%

Revenue

$384M

Est $388M

-1.1%

Q3 2025

Jul 30, 2025

EPS

$1.01

Est $0.86

+17.4%

Revenue

$382M

Est $371M

+3.0%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 30, 2026	$0.94vs $0.84+11.9%	$382Mvs $378M+1.1%
Q1 2026	Feb 24, 2026	$1.04vs $0.96+8.3%	$394Mvs $390M+1.0%
Q4 2025	Oct 30, 2025	$0.92vs $0.82+12.2%	$384Mvs $388M-1.1%
Q3 2025	Jul 30, 2025	$1.01vs $0.86+17.4%	$382Mvs $371M+3.0%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
ITGRInteger Holdings CorporationDirect Competitor	2.95B	85.85	29.71	7.57%	7.67%	8.23%	3.56%	0.80
NNOXNano-X Imaging Ltd.Direct Competitor	117.04M	1.79	-1.97	13.91%	-452.82%	-35.55%		0.04
ATRCAtriCure, Inc.Direct Competitor	1.49B	29.44	-122.67	14.88%	-2.14%	-2.43%	3.24%	0.18
NVCRNovoCure LimitedDirect Competitor	1.81B	15.88	-13.02	8.28%	-25.66%	-50.82%		0.85
INVAInnoviva, Inc.Direct Competitor	1.69B	22.65	6.86	18.52%	65.38%	23.12%	11.58%
ANGOAngioDynamics, Inc.Direct Competitor	455.65M	10.96	-13.20	-3.76%	-9.02%	-15.71%
BSXBoston Scientific CorporationProduct Competitor	83.2B	55.98	28.86	19.87%	14.4%	12.4%	4.4%	0.51
BDXBecton, Dickinson and CompanyProduct Competitor	52.23B	144.17	24.73	8.23%	8.01%	6.93%	5.11%	0.76

Compare MMSI vs Peers

Merit Medical Systems, Inc. (MMSI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ITGR

Most directly comparable listed peer for MMSI.

Scale Benchmark

vs ISRG

Larger-name benchmark to compare MMSI against a more recognizable public peer.

Peer Set

Compare Top 5

vs ITGR, NNOX, ATRC, NVCR

MMSI Income Statement

Merit Medical Systems, Inc. (MMSI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	727.85M	882.75M	994.85M	963.88M	1.07B	1.15B	1.26B	1.36B	1.51B	1.54B
Revenue Growth %	20.54%	21.28%	12.7%	-3.11%	11.5%	7.09%	9.24%	7.89%	11.66%	11.17%
Cost of Goods Sold	401.6M	487.98M	562.49M	562.7M	589.42M	631.88M	673.49M	713.18M	777.79M	791.29M
COGS % of Revenue	55.18%	55.28%	56.54%	58.38%	54.84%	54.9%	53.56%	52.57%	51.35%	-
Gross Profit	326.25M▲ 0%	394.77M▲ 21.0%	432.37M▲ 9.5%	401.18M▼ 7.2%	485.33M▲ 21.0%	519.1M▲ 7.0%	583.87M▲ 12.5%	643.33M▲ 10.2%	736.94M▲ 14.6%	750.98M▲ 0%
Gross Margin %	44.82%	44.72%	43.46%	41.62%	45.16%	45.1%	46.44%	47.43%	48.65%	48.69%
Gross Profit Growth %	23.1%	21%	9.52%	-7.21%	20.98%	6.96%	12.48%	10.18%	14.55%	-
Operating Expenses	280.54M	335.55M	416.93M	402.74M	424.42M	431.54M	458.73M	487.64M	552.57M	563.42M
OpEx % of Revenue	38.54%	38.01%	41.91%	41.78%	39.49%	37.49%	36.48%	35.95%	36.48%	-
Selling, General & Admin	229.13M	276.02M	327.27M	297.72M	335.69M	342.52M	373.68M	376.73M	455.21M	465.94M
SG&A % of Revenue	31.48%	31.27%	32.9%	30.89%	31.23%	29.76%	29.72%	27.77%	30.05%	-
Research & Development	51.4M	59.53M	65.61M	57.54M	71.25M	75.51M	82.73M	83.81M	97.35M	97.48M
R&D % of Revenue	7.06%	6.74%	6.6%	5.97%	6.63%	6.56%	6.58%	6.18%	6.43%	-
Other Operating Expenses	-872K	63K	24.04M	47.48M	17.48M	13.5M	3.52M	27.09M	0	0
Operating Income	33.07M▲ 0%	58.62M▲ 77.3%	15.43M▼ 73.7%	-1.56M▼ 110.1%	60.92M▲ 3999.9%	87.56M▲ 43.7%	123.94M▲ 41.5%	155.69M▲ 25.6%	184.38M▲ 18.4%	187.74M▲ 0%
Operating Margin %	4.54%	6.64%	1.55%	-0.16%	5.67%	7.61%	9.86%	11.48%	12.17%	12.17%
Operating Income Growth %	-5.18%	77.26%	-73.67%	-110.12%	3999.87%	43.74%	41.55%	25.62%	18.42%	-
EBITDA	86.65M	128.16M	119.79M	105.25M	156.7M	179.76M	225.24M	270.43M	319.03M	290.11M
EBITDA Margin %	11.91%	14.52%	12.04%	10.92%	14.58%	15.62%	17.91%	19.94%	21.06%	18.81%
EBITDA Growth %	10.2%	47.91%	-6.53%	-12.13%	48.88%	14.72%	25.3%	20.06%	17.97%	-0.24%
D&A (Non-Cash Add-back)	53.58M	69.55M	104.36M	106.82M	95.78M	92.2M	101.29M	114.73M	134.65M	102.37M
EBIT	43.62M	59.88M	14.9M	-3.24M	59.18M	88.97M	127.6M	159.24M	184.38M	143.58M
Net Interest Income	-7.36M	-9.16M	-12.7M	-9.39M	-4.49M	-5.9M	-13.05M	-4.99M	-11.39M	-8.61M
Interest Income	381K	1.2M	0	604K	769K	439K	2.46M	26.23M	15.07M	15.18M
Interest Expense	7.74M	10.36M	12.7M	9.99M	5.26M	6.34M	15.51M	31.22M	26.46M	13.37M
Other Income/Expense	2.81M	-9.1M	-13.24M	-11.67M	-7M	-4.93M	-11.86M	-5.7M	-13.44M	-1.22M
Pretax Income	35.88M▲ 0%	49.52M▲ 38.0%	2.19M▼ 95.6%	-13.23M▼ 703.3%	53.92M▲ 507.5%	82.63M▲ 53.3%	112.09M▲ 35.7%	149.99M▲ 33.8%	170.94M▲ 14.0%	186.53M▲ 0%
Pretax Margin %	4.93%	5.61%	0.22%	-1.37%	5.02%	7.18%	8.91%	11.06%	11.29%	12.09%
Income Tax	8.36M	7.5M	-3.26M	-3.39M	5.46M	8.11M	17.68M	29.64M	42.45M	47.19M
Effective Tax Rate %	23.29%	15.15%	-148.56%	25.61%	10.13%	9.82%	15.77%	19.76%	24.83%	25.3%
Net Income	27.52M▲ 0%	42.02M▲ 52.7%	5.45M▼ 87.0%	-9.84M▼ 280.6%	48.45M▲ 592.3%	74.52M▲ 53.8%	94.41M▲ 26.7%	120.36M▲ 27.5%	128.49M▲ 6.8%	139.34M▲ 0%
Net Margin %	3.78%	4.76%	0.55%	-1.02%	4.51%	6.47%	7.51%	8.87%	8.48%	9.03%
Net Income Growth %	36.79%	52.66%	-87.03%	-280.57%	592.27%	53.79%	26.7%	27.48%	6.76%	13.96%
Net Income (Continuing)	27.52M	42.02M	5.45M	-9.84M	48.45M	74.52M	94.41M	120.36M	128.49M	139.34M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	0.55▲ 0%	0.78▲ 41.8%	0.10▼ 87.6%	-0.18▼ 285.8%	0.84▲ 566.7%	1.29▲ 53.6%	1.62▲ 25.6%	2.03▲ 25.3%	2.13▲ 4.9%	2.32▲ 0%
EPS Growth %	22.22%	41.82%	-87.58%	-285.76%	566.67%	53.57%	25.58%	25.31%	4.93%	13.24%
EPS (Basic)	0.56	0.80	0.10	-0.18	0.86	1.31	1.64	2.07	2.17	-
Diluted Shares Outstanding	50.1M	53.93M	56.23M	55.43M	57.36M	57.67M	58.36M	59.37M	60.46M	60.01M
Basic Shares Outstanding	48.8M	52.27M	55.08M	55.43M	56.15M	56.81M	57.59M	58.22M	59.16M	59.51M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

MMSI Balance Sheet

Merit Medical Systems, Inc. (MMSI) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	316.12M	429.83M	454.54M	429.71M	482.21M	529.08M	1.11B	923.77M	1.04B	1.1B
Cash & Short-Term Investments	32.34M	67.36M	44.32M	56.92M	67.75M	58.41M	589.14M	376.71M	448.5M	488.08M
Cash Only	32.34M	67.36M	44.32M	56.92M	67.75M	58.41M	587.04M	376.71M	448.5M	488.08M
Short-Term Investments	0	0	0	0	0	0	2.1M	0	0	0
Accounts Receivable	116.18M	149.99M	168.53M	157.96M	172.84M	178.45M	189.26M	209.17M	223.61M	227M
Days Sales Outstanding	58.26	62.02	61.83	59.82	58.7	56.59	54.94	56.28	53.88	53.63
Inventory	155.29M	197.54M	225.7M	198.02M	221.92M	265.99M	303.87M	306.06M	333.7M	352.39M
Days Inventory Outstanding	141.14	147.75	146.46	128.45	137.43	153.65	164.68	156.64	156.6	154.06
Other Current Assets	0	11.33M	12.5M	13.12M	16.15M	22.32M	22.19M	28.54M	29.39M	34.31M
Total Non-Current Assets	795.69M	1.19B	1.3B	1.23B	1.17B	1.13B	1.22B	1.49B	1.65B	1.62B
Property, Plant & Equipment	292.82M	331.45M	459.03M	460.97M	437.57M	448.24M	446.57M	451.67M	516M	520.33M
Fixed Asset Turnover	2.49x	2.66x	2.17x	2.09x	2.46x	2.57x	2.82x	3.00x	2.94x	3.02x
Goodwill	238.15M	335.43M	353.19M	363.53M	361.74M	359.82M	382.24M	463.51M	506.84M	503.43M
Intangible Assets	227.32M	462.71M	445.31M	367.92M	319.27M	275.87M	325.88M	498.26M	537.65M	512M
Long-Term Investments	5.75M	5.92M	17.13M	12.04M	14.71M	15.58M	19.06M	22.83M	45.66M	93.46M
Other Non-Current Assets	29.29M	51.66M	24.33M	25.63M	26.71M	28.78M	35.73M	42.5M	32.57M	217.04M
Total Assets	1.11B▲ 0%	1.62B▲ 45.7%	1.76B▲ 8.5%	1.66B▼ 5.3%	1.65B▼ 1.0%	1.66B▲ 1.0%	2.33B▲ 39.7%	2.42B▲ 4.0%	2.69B▲ 11.1%	2.72B▲ 0%
Asset Turnover	0.65x	0.54x	0.57x	0.58x	0.65x	0.69x	0.54x	0.56x	0.56x	0.58x
Asset Growth %	17.93%	45.71%	8.48%	-5.29%	-0.97%	0.95%	39.74%	4.01%	11.05%	40.9%
Total Current Liabilities	115.62M	175.34M	181.66M	185M	236.28M	220.65M	203.56M	216.4M	239.76M	216.87M
Accounts Payable	34.93M	54.02M	54.62M	49.84M	55.62M	68.5M	65.94M	68.5M	60.55M	0
Days Payables Outstanding	31.75	40.41	35.45	32.33	34.45	39.57	35.74	35.06	28.42	22.41
Short-Term Debt	19.46M	22M	19.05M	20.4M	19.11M	22.25M	0	0	10.88M	11.23M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	27.91M	58.24M	44.37M	48.23M	77.44M	42.47M	53.23M	134.08M	75.31M	205.65M
Current Ratio	2.73x	2.45x	2.50x	2.32x	2.04x	2.40x	5.45x	4.27x	4.34x	4.34x
Quick Ratio	1.39x	1.32x	1.26x	1.25x	1.10x	1.19x	3.95x	2.85x	2.95x	2.95x
Cash Conversion Cycle	167.65	169.36	172.84	155.94	161.68	170.67	183.88	177.86	182.07	185.27
Total Non-Current Liabilities	319.86M	511.89M	625.72M	520.82M	372.21M	298.92M	919.68M	822.84M	861.85M	875.68M
Long-Term Debt	259.01M	373.15M	431.98M	343.72M	234.4M	186.76M	823.01M	729.55M	810.7M	835.02M
Capital Lease Obligations	0	0	72.71M	70.94M	61.53M	59.74M	56.26M	54.78M	76.66M	232.78M
Deferred Tax Liabilities	23.29M	56.36M	45.24M	33.31M	31.5M	18.46M	5.55M	240K	19.66M	92.96M
Other Non-Current Liabilities	35.15M	80.12M	73.67M	70.92M	42.97M	32.26M	33.26M	36.77M	-46.56M	39.26M
Total Liabilities	435.48M	687.24M	807.38M	705.82M	608.5M	519.57M	1.12B	1.04B	1.1B	1.09B
Total Debt	278.47M	395.15M	535.3M	447.97M	325.7M	279.75M	891.36M	794.66M	898.23M	846.25M
Net Debt	246.14M	327.79M	490.98M	391.05M	257.95M	221.35M	304.32M	417.95M	449.73M	358.17M
Debt / Equity	0.41x	0.42x	0.56x	0.47x	0.31x	0.24x	0.74x	0.58x	0.57x	0.57x
Debt / EBITDA	3.21x	3.08x	4.47x	4.26x	2.08x	1.56x	3.96x	2.94x	2.82x	2.92x
Net Debt / EBITDA	2.84x	2.56x	4.10x	3.72x	1.65x	1.23x	1.35x	1.55x	1.41x	1.41x
Interest Coverage	5.64x	5.78x	1.17x	-0.32x	11.25x	14.04x	8.23x	5.10x	6.97x	10.74x
Total Equity	676.33M▲ 0%	932.77M▲ 37.9%	949.94M▲ 1.8%	958.58M▲ 0.9%	1.04B▲ 8.5%	1.14B▲ 10.1%	1.2B▲ 5.0%	1.38B▲ 14.8%	1.58B▲ 14.9%	1.63B▲ 0%
Equity Growth %	35.76%	37.92%	1.84%	0.91%	8.47%	10.06%	5.03%	14.76%	14.86%	60.34%
Book Value per Share	13.50	17.30	16.89	17.29	18.13	19.84	20.60	23.24	26.20	27.11
Total Shareholders' Equity	676.33M	932.77M	949.94M	958.58M	1.04B	1.14B	1.2B	1.38B	1.58B	1.63B
Common Stock	353.39M	571.38M	587.02M	606.22M	641.53M	675.17M	638.15M	703.22M	763.91M	769.27M
Retained Earnings	321.41M	363.43M	368.22M	357.8M	406.26M	480.77M	575.18M	695.54M	824.03M	865.02M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.53M	-2.03M	-5.29M	-5.45M	-7.99M	-11.55M	-11.33M	-19.4M	-3.64M	-7.57M
Minority Interest	0	0	0	0	0	0	0	0	0	0

MMSI Cash Flow Statement

Merit Medical Systems, Inc. (MMSI) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	62.73M	86.53M	77.81M	165.27M	147.23M	114.29M	145.15M	220.8M	297.37M	297.37M
Operating CF Margin %	8.62%	9.8%	7.82%	17.15%	13.7%	9.93%	11.54%	16.28%	19.63%	-
Operating CF Growth %	17.03%	37.95%	-10.08%	112.39%	-10.91%	-22.37%	27%	52.12%	34.68%	123.59%
Net Income	27.52M	42.02M	5.45M	-9.84M	48.45M	74.52M	94.41M	120.36M	128.49M	139.34M
Depreciation & Amortization	53.58M	69.55M	104.36M	106.82M	95.78M	92.2M	101.29M	114.73M	134.65M	135.72M
Stock-Based Compensation	4.08M	6.12M	9.38M	14.34M	16.09M	18.04M	21.33M	28.47M	43.46M	43.34M
Deferred Taxes	-1.3M	2.05M	-12.44M	-11.29M	-4.63M	-14.92M	-12.64M	-14.87M	5.21M	5.21M
Other Non-Cash Items	3.05M	2.75M	26.79M	31.02M	9.37M	15.86M	10.78M	9.05M	8.9M	-36.25M
Working Capital Changes	-24.2M	-35.94M	-55.73M	34.24M	-17.84M	-71.4M	-70.02M	-36.95M	-23.34M	10.12M
Change in Receivables	-12.84M	-27.52M	-17.9M	10.43M	-8.62M	-15.12M	0	-21.7M	-2.73M	2.97M
Change in Inventory	-17.83M	-28.17M	-27.04M	29.43M	-25.18M	-47.93M	0	-2.29M	-21.6M	-11M
Change in Payables	417K	15.73M	-2.29M	333K	6.05M	12.66M	-7.3M	-2.31M	1.01M	-3.44M
Cash from Investing	-146.76M	-378.82M	-134.48M	-58.65M	-37.16M	-57.4M	-175.35M	-368.65M	-247.39M	-210.02M
Capital Expenditures	-41.2M	-66.34M	-81.5M	-49.28M	-27.94M	-45.03M	-36.7M	0	0	-23.47M
CapEx % of Revenue	5.66%	7.51%	8.19%	5.11%	2.6%	3.91%	2.92%	2.8%	5.39%	-
Acquisitions	-105.58M	-301.79M	-53.9M	-9.67M	-7.17M	-8.29M	-137.85M	-320.18M	-144.77M	-144.77M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	21K	-10.7M	920K	292K	-2.05M	-4.08M	-799K	-48.47M	-102.62M	-41.78M
Cash from Financing	96.52M	328.28M	33.53M	-95.71M	-98.44M	-60.26M	559.27M	-60.01M	16M	2.75M
Debt Issued (Net)	-46.42M	116.5M	44.5M	-88.38M	-108.5M	-44.94M	619.58M	-99.06M	0	0
Equity Issued (Net)	143.81M	214.99M	6.25M	6.63M	21.31M	20.07M	15.58M	40.91M	28.21M	15.06M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-877K	-3.21M	-17.22M	-13.97M	-11.24M	-35.39M	-75.9M	-1.85M	-12.21M	-12.31M
Net Change in Cash	13.16M▲ 0%	35.02M▲ 166.0%	-23.04M▼ 165.8%	12.6M▲ 154.7%	10.83M▼ 14.0%	-7.19M▼ 166.4%	528.59M▲ 7449.6%	-210.38M▼ 139.8%	69.78M▲ 133.2%	92.65M▲ 0%
Free Cash Flow	21.53M▲ 0%	20.2M▼ 6.2%	-3.68M▼ 118.2%	115.99M▲ 3248.6%	119.29M▲ 2.8%	69.26M▼ 41.9%	108.45M▲ 56.6%	182.76M▲ 68.5%	215.65M▲ 18.0%	274.01M▲ 0%
FCF Margin %	2.96%	2.29%	-0.37%	12.03%	11.1%	6.02%	8.63%	13.47%	14.24%	17.77%
FCF Growth %	16.08%	-6.18%	-118.24%	3248.59%	2.84%	-41.94%	56.58%	68.52%	18%	53.82%
FCF per Share	0.43	0.37	-0.07	2.09	2.08	1.20	1.86	3.08	3.57	3.57
FCF Conversion (FCF/Net Income)	2.28x	2.06x	14.27x	-16.79x	3.04x	1.53x	1.54x	1.83x	2.31x	1.97x
Interest Paid	7.71M	10.32M	12.43M	10.08M	5.26M	6.26M	14.05M	23.24M	0	13.53M
Taxes Paid	6.05M	8.69M	12.07M	8.92M	8.83M	17.09M	31.53M	45.05M	0	19.54M

MMSI Key Ratios

Merit Medical Systems, Inc. (MMSI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	4.69%	5.22%	0.58%	-1.03%	4.85%	6.82%	8.05%	9.33%	8.67%	8.95%
Return on Invested Capital (ROIC)	2.87%	4.03%	0.86%	-0.08%	3.45%	4.93%	6.47%	7.07%	7.22%	7.22%
Gross Margin	44.82%	44.72%	43.46%	41.62%	45.16%	45.1%	46.44%	47.43%	48.65%	48.69%
Net Margin	3.78%	4.76%	0.55%	-1.02%	4.51%	6.47%	7.51%	8.87%	8.48%	9.03%
Debt / Equity	0.41x	0.42x	0.56x	0.47x	0.31x	0.24x	0.74x	0.58x	0.57x	0.57x
Interest Coverage	5.64x	5.78x	1.17x	-0.32x	11.25x	14.04x	8.23x	5.10x	6.97x	10.74x
FCF Conversion	2.28x	2.06x	14.27x	-16.79x	3.04x	1.53x	1.54x	1.83x	2.31x	1.97x
Revenue Growth	20.54%	21.28%	12.7%	-3.11%	11.5%	7.09%	9.24%	7.89%	11.66%	11.17%

MMSI SEC Filings & Documents

Merit Medical Systems, Inc. (MMSI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 30, 2026·SEC

Material company update

Apr 13, 2026·SEC

Material company update

Apr 1, 2026·SEC

10-K Annual Reports

FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

FY 2026

Apr 30, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 30, 2025·SEC

MMSI Frequently Asked Questions

Merit Medical Systems, Inc. (MMSI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Merit Medical Systems, Inc. (MMSI) reported $1.54B in revenue for fiscal year 2025. This represents a 2954% increase from $50.5M in 1996.

Merit Medical Systems, Inc. (MMSI) grew revenue by 11.7% over the past year. This is steady growth.

Yes, Merit Medical Systems, Inc. (MMSI) is profitable, generating $139.3M in net income for fiscal year 2025 (8.5% net margin).

Dividend & Returns

Merit Medical Systems, Inc. (MMSI) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Merit Medical Systems, Inc. (MMSI) generated $274.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Merit Medical Systems, Inc.(MMSI)Earnings, Financials & Key Ratios

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