MMSI Stock Analysis: Merit Medical Systems | NASDAQ
Medical Instruments & Supplies | NASDAQ, USA | Market Cap: 4.239m USD | 12M Return: -22.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 51.6M
EPS Trend: 79.4%
Qual. Beats: 2
Rev. Trend: 99.6%
Qual. Beats: 4
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Merit Medical Systems, Inc. (NASDAQ: MMSI) is a U.S.-based manufacturer of single-use medical devices used in interventional, diagnostic, and therapeutic procedures. Founded in 1987 and headquartered in South Jordan, Utah, the company sells its products in over 70 countries, with key markets including the United States, China, Japan, Germany, France, and the United Kingdom. It distributes through a mix of direct sales representatives, independent distributors, OEM partners, and custom procedure tray manufacturers.
The company operates through two reportable segments: Cardiovascular and Endoscopy. Its cardiovascular portfolio spans micropuncture kits, angiographic needles, sheaths, guide wires, peripheral intervention products, oncology biopsy tools, cardiac intervention devices, and spine products such as vertebral augmentation and bone biopsy systems. The endoscopy segment covers gastroenterology and pulmonary products, including esophageal stents, cryoballoon devices, tracheobronchial stents, and related kits for endoscopy and bronchoscopy procedures.
In addition to finished medical products, Merit offers custom procedural solutions (including critical care products, syringes, manifold kits, and procedure trays), tube and wire coating services, and sensor components for microelectromechanical systems (MEMS). End customers include hospitals and alternate site-based physicians, technicians, and nurses. As a participant in the Health Care Supplies sub-industry, Merit operates in a sector characterized by recurring demand tied to procedure volumes, regulatory-driven product cycles, and reliance on physician preference for single-use disposable devices.
- Cardiovascular segment growth driven by peripheral intervention products
- Endoscopy segment expansion through acquisitions and new product launches
- Hospital procedural volumes drive demand for single-use medical devices
| Net Income: 139.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 2.27 > 1.0 |
| NWC/Revenue: 57.36% < 20% (prev 54.91%; Δ 2.45% < -1%) |
| CFO/TA 0.11 > 3% & CFO 297.5m > Net Income 139.3m |
| Net Debt (417.7m) to EBITDA (348.7m): 1.20 < 3 |
| Current Ratio: 5.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (60.0m) vs 12m ago -2.06% < -2% |
| Gross Margin: 48.65% > 18% (prev 47.80%; Δ 0.85% > 0.5%) |
| Asset Turnover: 59.48% > 50% (prev 56.21%; Δ 3.27% > 0%) |
| Interest Coverage Ratio: 8.06 > 6 (EBIT TTM 212.9m / Interest Expense TTM 26.4m) |
| A: 0.33 (Total Current Assets 1.10b - Total Current Liabilities 216.9m) / Total Assets 2.72b |
| B: 0.32 (Retained Earnings 865.0m / Total Assets 2.72b) |
| C: 0.08 (EBIT TTM 212.9m / Avg Total Assets 2.59b) |
| D: 1.49 (Book Value of Equity 1.63b / Total Liabilities 1.09b) |
| Altman-Z'' = 5.29 = AAA |
| DSRI: 0.94 (Receivables 227.0m/216.7m, Revenue 1.54b/1.39b) |
| GMI: 0.98 (GM 47.80% / 48.65%) |
| AQI: 0.97 (AQ_t 0.40 / AQ_t-1 0.42) |
| SGI: 1.11 (Revenue 1.54b / 1.39b) |
| TATA: -0.06 (NI 139.3m - CFO 297.5m) / TA 2.72b) |
| Beneish M = -3.04 (Cap -4..+1) = AA |
As of July 11, 2026, the stock is trading at USD 73.44 with a total of 739,647 shares traded. Over the past week, the price has changed by +3.31%, over one month by +9.63%, over three months by +7.59% and over the past year by -22.83%.
Current recommended Stop Loss: 69.90 (which is 4.8% or 1.8 ATR below the current price).
Merit Medical Systems has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy MMSI.
- StrongBuy: 4
- Buy: 5
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 89.6 | 21.9% |
P/E Trailing = 31.1667
P/E Forward = 18.1488
P/S = 2.7483
P/B = 2.6202
P/EG = 1.5112
Revenue TTM = 1.54b USD
EBIT TTM = 212.9m USD
EBITDA TTM = 348.7m USD
Long Term Debt = 735.2m USD (from longTermDebt, last quarter)
Short Term Debt = 11.2m USD (from shortTermDebt, last quarter)
Debt = 908.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 86.4m
Net Debt = 417.7m USD (calculated: Debt 908.0m - CCE 490.2m)
Enterprise Value = 4.66b USD (4.24b + Debt 908.0m - CCE 490.2m)
Interest Coverage Ratio = 8.06 (Ebit TTM 212.9m / Interest Expense TTM 26.4m)
EV/FCF = 18.05x (Enterprise Value 4.66b / FCF TTM 258.0m)
FCF Yield = 5.54% (FCF TTM 258.0m / Enterprise Value 4.66b)
FCF Margin = 16.72% (FCF TTM 258.0m / Revenue TTM 1.54b)
Net Margin = 9.03% (Net Income TTM 139.3m / Revenue TTM 1.54b)
Gross Margin = 48.65% ((Revenue TTM 1.54b - Cost of Revenue TTM 792.2m) / Revenue TTM)
Gross Margin QoQ = 48.22% (prev 49.58%)
Tobins Q-Ratio = 1.71 (Enterprise Value 4.66b / Total Assets 2.72b)
Interest Expense / Debt = 2.91% (Interest Expense 26.4m / Debt 908.0m)
Taxrate = 25.30% (47.2m / 186.5m)
NOPAT = 159.1m (EBIT 212.9m * (1 - 25.30%))
Current Ratio = 5.08 (Total Current Assets 1.10b / Total Current Liabilities 216.9m)
Debt / Equity = 0.56 (Debt 908.0m / totalStockholderEquity, last quarter 1.63b)
Debt / EBITDA = 1.20 (Net Debt 417.7m / EBITDA 348.7m)
Debt / FCF = 1.62 (Net Debt 417.7m / FCF TTM 258.0m)
Total Stockholder Equity = 1.56b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.37% (Net Income 139.3m / Total Assets 2.72b)
RoE = 8.95% (Net Income TTM 139.3m / Total Stockholder Equity 1.56b)
RoCE = 9.29% (EBIT 212.9m / Capital Employed (Equity 1.56b + L.T.Debt 735.2m))
RoIC = 6.53% (NOPAT 159.1m / Invested Capital 2.44b)
WACC = 6.27% (E(4.24b)/V(5.15b) * Re(7.15%) + D(908.0m)/V(5.15b) * Rd(2.91%) * (1-Tc(0.25)))
Discount Rate = 7.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 46.67 | Cagr: 1.23%
[DCF] Terminal Value 77.97% ; FCFF base≈226.1m ; Y1≈259.1m ; Y5≈381.4m
[DCF] Fair Price = 89.20 (EV 5.74b - Net Debt 417.7m = Equity 5.32b / Shares 59.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 79.36 | EPS CAGR: 6.80% | SUE: 2.17 | # QB: 2
Revenue Correlation: 99.64 | Revenue CAGR: 9.64% | SUE: 1.39 | # QB: 4
EPS current Quarter (2026-06-30): EPS=0.96 | Chg30d=-8.90% | Revisions=-25% | Analysts=9
EPS next Quarter (2026-09-30): EPS=1.02 | Chg30d=+0.15% | Revisions=+22% | Analysts=9
EPS current Year (2026-12-31): EPS=4.07 | Chg30d=+1.60% | Revisions=+25% | GrowthEPS=+6.3% | GrowthRev=+6.9%
EPS next Year (2027-12-31): EPS=4.40 | Chg30d=+0.18% | Revisions=+22% | GrowthEPS=+8.0% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: +24% (up=9, down=5)