Last 48 quarters of trend data · Healthcare · Medical - Instruments & Supplies
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Merit Medical Systems, Inc.'s quarterly P/E stands at 25.3x, down 53.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 22.5% YoY to 25.4x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 28.93 | 25.34 | 34.98 | 45.23 | 43.28 | 53.93 | 52.57 | 51.47 | 35.23 | 39.45 | 40.40 | 39.22 | 59.74 |
| — | -53.0% | -33.5% | -12.1% | +22.9% | +36.7% | +30.1% | +31.3% | -41.0% | -23.2% | +32.7% | -25.1% | +18.9% | |
| P/S Ratio | 2.43 | 2.71 | 3.36 | 3.24 | 3.71 | 4.57 | 4.13 | 4.33 | 3.73 | 3.43 | 3.43 | 3.20 | 3.82 |
| — | -40.7% | -18.7% | -25.0% | -0.7% | +33.3% | +20.3% | +35.5% | -2.3% | -5.2% | -1.7% | +12.8% | +44.2% | |
| P/B Ratio | 2.35 | 2.54 | 3.34 | 3.26 | 3.81 | 4.53 | 4.25 | 4.45 | 3.94 | 3.58 | 3.69 | 3.28 | 4.06 |
| — | -43.9% | -21.4% | -26.7% | -3.3% | +26.8% | +15.2% | +35.7% | -3.1% | -2.6% | +3.2% | +9.6% | +39.5% | |
| P/FCF | 17.05 | 25.42 | 17.18 | 24.20 | 13.51 | 84.99 | 22.72 | 39.32 | 22.08 | 46.85 | 20.36 | 23.71 | 103.74 |
| — | -70.1% | -24.4% | -38.4% | -38.8% | +81.4% | +11.6% | +65.8% | -78.7% | -92.3% | -69.1% | -42.5% | +318.8% | |
| EV / EBITDA | 12.93 | 25.45 | 16.23 | 17.59 | 19.06 | 20.77 | 23.04 | 23.18 | 18.09 | 18.86 | 20.06 | 17.47 | 24.24 |
| — | +22.5% | -29.5% | -24.1% | +5.4% | +10.2% | +14.8% | +32.7% | -25.4% | -17.3% | -0.5% | -16.6% | +32.3% | |
| EV / EBIT | 22.38 | — | 26.54 | 31.67 | 32.84 | 33.98 | 38.17 | 34.99 | 24.67 | 27.86 | 31.90 | 30.83 | 45.69 |
| — | — | -30.5% | -9.5% | +33.1% | +21.9% | +19.7% | +13.5% | -46.0% | -32.2% | -4.4% | -31.5% | +18.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Merit Medical Systems, Inc.'s operating margin was 11.6% in Q1 2026, down 2.2 pp QoQ and down 2.8 pp YoY.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.7% | 48.4% | 49.6% | 48.5% | 48.2% | 48.4% | 48.7% | 46.4% | 47.7% | 46.9% | 41.8% | 45.1% | 47.7% |
| — | -0.0% | +1.8% | +4.7% | +1.2% | +3.2% | +16.5% | +2.8% | -0.2% | +0.9% | -8.8% | +0.8% | +4.3% | |
| Operating Margin | 12.2% | 11.6% | 13.7% | 11.1% | 12.2% | 14.3% | 10.3% | 11.0% | 13.6% | 11.1% | 10.1% | 11.1% | 9.0% |
| — | -19.3% | +33.3% | +1.5% | -9.9% | +29.0% | +1.6% | -1.6% | +51.0% | +25.2% | -2.3% | +71.6% | +14.2% | |
| Net Margin | 8.5% | 10.7% | 9.6% | 7.2% | 8.5% | 8.5% | 7.9% | 8.4% | 10.6% | 8.7% | 8.5% | 8.2% | 6.3% |
| — | +26.2% | +22.5% | -13.7% | -19.3% | -2.5% | -7.9% | +2.1% | +67.1% | +25.5% | -24.9% | +54.1% | +22.0% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | 2.6% | 2.4% | 1.8% | 2.2% | 2.1% | 2.1% | 2.2% | 2.8% | 2.3% | 2.3% | 2.1% | 1.7% |
| — | +18.9% | +18.0% | -15.7% | -21.1% | -7.1% | -9.0% | +2.8% | +66.2% | +29.4% | -24.0% | +50.3% | +18.7% | |
| ROA | 5.0% | 1.5% | 1.4% | 1.1% | 1.3% | 1.2% | 1.2% | 1.2% | 1.5% | 1.2% | 1.3% | 1.4% | 1.1% |
| — | +22.9% | +22.7% | -11.2% | -15.2% | +1.6% | -12.8% | -15.5% | +32.3% | -1.8% | -34.0% | +51.4% | +22.5% | |
| ROIC | 7.2% | 1.6% | 2.0% | 1.6% | 1.8% | 2.1% | 1.6% | 1.8% | 2.3% | 1.8% | 1.6% | 1.7% | 1.5% |
| — | -21.0% | +26.6% | -8.3% | -18.8% | +17.6% | -1.0% | +3.6% | +53.4% | +23.7% | -4.1% | +64.4% | +13.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Merit Medical Systems, Inc.'s Debt/EBITDA ratio is 19.2x, up from 10.2x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.57 | 0.52 | 0.57 | 0.54 | 0.55 | 0.57 | 0.58 | 0.62 | 0.68 | 0.70 | 0.74 | 0.29 | 0.34 |
| — | -9.1% | -1.6% | -13.3% | -18.8% | -18.7% | -22.3% | +114.3% | +100.8% | +197.3% | +203.4% | +5.8% | +11.2% | |
| Debt / EBITDA | 2.82 | 19.16 | 10.16 | 10.67 | 10.19 | 9.85 | 11.66 | 12.29 | 11.94 | 13.93 | 15.09 | 5.74 | 7.56 |
| — | +94.6% | -12.9% | -13.2% | -14.7% | -29.3% | -22.7% | +114.0% | +57.9% | +149.1% | +188.5% | -19.3% | +7.0% | |
| Current Ratio | 4.34 | 5.08 | 4.34 | 4.28 | 4.09 | 4.87 | 4.27 | 5.36 | 6.24 | 6.03 | 5.45 | 3.13 | 3.13 |
| — | +4.3% | +1.6% | -20.3% | -34.5% | -19.2% | -21.6% | +71.5% | +99.4% | +133.6% | +127.1% | +33.3% | +24.3% | |
| Quick Ratio | 2.95 | 3.46 | 2.95 | 2.86 | 2.66 | 3.26 | 2.85 | 3.82 | 4.64 | 4.38 | 3.95 | 1.50 | 1.52 |
| — | +6.2% | +3.2% | -25.1% | -42.7% | -25.6% | -27.8% | +153.9% | +205.2% | +253.2% | +231.5% | +26.5% | +14.6% | |
| Interest Coverage | 6.97 | 6.77 | 8.50 | 6.33 | 6.90 | 7.73 | 5.15 | 5.89 | 6.97 | 5.27 | 7.46 | 7.24 | 7.76 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Merit Medical Systems, Inc.'s current P/E is 28.9x. The average P/E over the last 4 quarters is 37.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Merit Medical Systems, Inc.'s current operating margin is 12.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Merit Medical Systems, Inc.'s business trajectory between earnings reports.