Stock MMSI MERIT MEDICAL SYSTEMS, INC.
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Financials Merit Medical Systems, Inc.

Equities

MMSI

US5898891040

Medical Equipment, Supplies & Distribution

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
73.78 USD +0.55% Intraday chart for Merit Medical Systems, Inc. +2.43% -2.87%
Mar. 19 Merit Medical Launches Micro ACE Micro-Access System in US MT
Mar. 19 Merit Medical Systems, Inc. Launches the Micro Ace Advanced Micro-Access System CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,724 3,083 3,517 4,020 4,387 4,274 - -
Enterprise Value (EV) 1 1,724 3,083 3,517 4,020 4,387 4,394 4,227 4,075
P/E ratio 312 x -308 x 74.2 x 54.7 x 46.9 x 33.8 x 28.8 x 26.8 x
Yield - - - - - - - -
Capitalization / Revenue 1.73 x 3.2 x 3.27 x 3.49 x 3.49 x 3.24 x 3.07 x 2.91 x
EV / Revenue 1.73 x 3.2 x 3.27 x 3.49 x 3.49 x 3.33 x 3.04 x 2.77 x
EV / EBITDA 11.6 x 18.8 x 17 x 17.6 x 16.7 x 15.2 x 14.6 x 13.2 x
EV / FCF -4,788 x 25.9 x 29.5 x 58 x 39.6 x 32.8 x 21.7 x 26.6 x
FCF Yield -0.02% 3.87% 3.39% 1.72% 2.53% 3.05% 4.61% 3.75%
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 55,209 55,547 56,458 56,919 57,750 57,930 - -
Reference price 2 31.22 55.51 62.30 70.62 75.96 73.78 73.78 73.78
Announcement Date 2/24/20 2/24/21 2/24/22 2/22/23 2/28/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 994.9 963.9 1,075 1,151 1,257 1,320 1,392 1,470
EBITDA 1 149.1 164.2 206.9 228.5 262.2 288.8 289.6 307.9
EBIT 1 117.6 132.5 172.5 195.1 228.3 247.8 273.5 302.2
Operating Margin 11.82% 13.75% 16.05% 16.95% 18.15% 18.78% 19.65% 20.56%
Earnings before Tax (EBT) 1 2.193 -13.23 53.92 82.63 112.1 157.9 189.2 207.3
Net income 1 5.451 -9.843 48.45 74.52 94.41 128.9 151.9 159.1
Net margin 0.55% -1.02% 4.51% 6.47% 7.51% 9.77% 10.91% 10.83%
EPS 2 0.1000 -0.1800 0.8400 1.290 1.620 2.185 2.563 2.752
Free Cash Flow 1 -0.36 119.2 119.3 69.26 110.9 134.1 194.9 152.9
FCF margin -0.04% 12.37% 11.1% 6.02% 8.82% 10.16% 14% 10.41%
FCF Conversion (EBITDA) - 72.58% 57.66% 30.32% 42.29% 46.44% 67.32% 49.67%
FCF Conversion (Net income) - - 246.2% 92.95% 117.42% 104.04% 128.33% 96.09%
Dividend per Share 2 - - - - - - - -
Announcement Date 2/24/20 2/24/21 2/24/22 2/22/23 2/28/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 267 278.5 275.4 295 287.2 293.4 297.6 320.1 315.2 324.5 315.9 336.8 328.1 339.4 331.2
EBITDA 1 47.88 56.9 48.52 64.76 54.53 60.66 56.22 71.93 66.28 67.72 60.72 74.24 71.55 75.7 -
EBIT 1 39.49 48.36 40.22 56.42 46.16 52.33 47.96 63.56 57.69 59.04 53.32 65.86 62.03 66.57 58.17
Operating Margin 14.79% 17.37% 14.6% 19.13% 16.07% 17.84% 16.12% 19.86% 18.3% 18.19% 16.88% 19.55% 18.9% 19.62% 17.56%
Earnings before Tax (EBT) 1 14.18 20.18 14.17 20.7 17.6 30.16 25.5 24.9 30.22 31.47 29.85 43.39 40.29 44.41 33.07
Net income 1 11.97 20.61 10.54 15.3 15.27 33.4 20.7 20.24 25.83 27.63 24.79 34.7 32.58 36.79 28.5
Net margin 4.48% 7.4% 3.83% 5.19% 5.32% 11.38% 6.96% 6.33% 8.2% 8.51% 7.85% 10.3% 9.93% 10.84% 8.61%
EPS 2 0.2100 0.3600 0.1800 0.2700 0.2700 0.5800 0.3600 0.3500 0.4400 0.4700 0.4220 0.5840 0.5520 0.6180 0.4833
Dividend per Share - - 1.856 - - - - - - - - - - - -
Announcement Date 10/28/21 2/24/22 4/27/22 7/27/22 10/26/22 2/22/23 4/26/23 7/25/23 10/26/23 2/28/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 120 - -
Net Cash position 1 - - - - - - 47 199
Leverage (Debt/EBITDA) - - - - - 0.4156 x - -
Free Cash Flow 1 -0.36 119 119 69.3 111 134 195 153
ROE (net income / shareholders' equity) 0.6% -1.03% 4.85% 6.82% 8.05% 12.4% 8.65% -
ROA (Net income/ Total Assets) 0.3% -0.58% 2.93% 4.5% 4.73% 5.2% 6.2% -
Assets 1 1,817 1,711 1,656 1,656 1,995 2,479 2,450 -
Book Value Per Share - - - - - - - -
Cash Flow per Share 2 1.380 2.980 - - 2.490 3.530 4.250 -
Capex 1 78.2 46 27.9 45 34.3 60 62.7 70
Capex / Sales 7.86% 4.77% 2.6% 3.91% 2.73% 4.55% 4.5% 4.76%
Announcement Date 2/24/20 2/24/21 2/24/22 2/22/23 2/28/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Merit Medical Systems, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
73.78 USD
Average target price
93.05 USD
Spread / Average Target
+26.12%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Medical Equipment, Supplies & Distribution
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