Merit Medical Systems (MMSI) Key Ratios
$90.54
As on 26-Aug-2026 16:00EDT
Market cap
$5,421 Mln
Revenue (TTM)
$1,579 Mln
P/E Ratio
37.2
P/B Ratio
3.2
Div. Yield
0 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | 9.68 | 9.66 | 10.33 | 9.64 | 8.90 |
| EBIT | 5.59 | 26.47 | 25.52 | 28.01 | 43.12 |
| Net Profit | -5.35 | 19.10 | 22.20 | 18.47 | 66.35 |
| EPS | -5.34 | 20.30 | 23.26 | 16.27 | 37.42 |
| Book Value | -- | -- | 15.98 | 10.16 | 9.33 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Dec-25 | Dec-24 |
| EBIT-Margin
| 11.64 | 9.63 | 14.33 | 13.03 | 11.74 |
| Net Margin
| -- | 5.49 | 9.22 | -- | -- |
| Return on equity
| 8.68 | 7.54 | 8.92 | 8.67 | 9.33 |
| Return on Capital
| 5.51 | 5.07 | -- | 5.52 | 5.64 |
| Return on Assets
| 4.95 | 4.45 | 4.90 | 5.03 | 5.07 |
| Debt to Equity (x)
| -- | -- | 0.44 | 0.57 | 0.58 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
5.52
|
5.64
|
5.37
|
5.34
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
ROE
8.92
Higher than Peers by 3.98
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
8.92
|
8.67
|
9.33
|
8.05
|
6.82
|
|
Peer Median
|
4.94
|
--
|
--
|
--
|
--
|
ROA
4.90
Higher than Peers by 2.45
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
4.90
|
5.03
|
5.07
|
4.73
|
4.50
|
|
Peer Median
|
2.45
|
--
|
--
|
--
|
--
|
EBIT Margin
14.33
Higher than Peers by 5.85
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
14.33
|
13.03
|
11.74
|
10.15
|
7.73
|
|
Peer Median
|
8.47
|
--
|
--
|
--
|
--
|
Net Margin
9.22
Higher than Peers by 4.54
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
9.22
|
8.48
|
8.87
|
7.51
|
6.47
|
|
Peer Median
|
4.68
|
--
|
--
|
--
|
--
|
Cash Profit Margin
--
--
(Net profit + Depreciation) / Gross Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Revenue Growth
10.33
Higher than Peers by 1.85
Year on year growth in net sales
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
10.33
|
0.12
|
0.08
|
0.09
|
0.07
|
|
Peer Median
|
8.49
|
--
|
--
|
--
|
--
|
EBIT Growth
25.52
Higher than Peers by 14.87
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
25.52
|
23.97
|
24.79
|
43.42
|
50.34
|
|
Peer Median
|
10.65
|
--
|
--
|
--
|
--
|
Net Profit Growth
22.20
Higher than Peers by 8.64
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
22.20
|
6.76
|
27.48
|
26.70
|
53.79
|
|
Peer Median
|
13.55
|
--
|
--
|
--
|
--
|
EPS Growth
23.26
Higher than Peers by 2.75
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
23.26
|
0.08
|
0.23
|
0.26
|
0.53
|
|
Peer Median
|
20.51
|
--
|
--
|
--
|
--
|
Book Value Growth
14.02
Higher than Peers by 7.02
Year on year growth in book value per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
14.02
|
--
|
--
|
--
|
--
|
|
Peer Median
|
7.01
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
0.44
Higher than Peers by 0.04
Total debt / Net worth
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
0.44
|
0.57
|
0.58
|
0.74
|
0.24
|
|
Peer Median
|
0.40
|
--
|
--
|
--
|
--
|
Short term debt to equity ratio
0.01
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
0.01
|
0.01
|
0.01
|
0.01
|
0.03
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
4.20
Higher than Peers by 1.37
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
4.20
|
4.34
|
4.27
|
5.45
|
2.40
|
|
Peer Median
|
2.83
|
--
|
--
|
--
|
--
|
Quick Ratio
2.79
Higher than Peers by 0.74
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
2.79
|
2.95
|
2.85
|
3.95
|
1.19
|
|
Peer Median
|
2.05
|
--
|
--
|
--
|
--
|
Interest Coverage
7.12
Higher than Peers by 2.16
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
7.12
|
7.46
|
5.10
|
8.23
|
14.04
|
|
Peer Median
|
4.96
|
--
|
--
|
--
|
--
|
Operating Efficiency
Debtors to sales
15.89
Lower than Peers by 0.57
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
15.89
|
14.76
|
15.42
|
15.05
|
15.50
|
|
Peer Median
|
16.46
|
--
|
--
|
--
|
--
|
Asset Turnover
0.53
Higher than Peers by 0.03
Sales / Average Total Assets
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
0.53
|
0.59
|
0.57
|
0.63
|
0.69
|
|
Peer Median
|
0.50
|
--
|
--
|
--
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
52.18
|
53.64
|
53.41
|
55.74
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
150.22
|
156.19
|
154.52
|
141.02
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
30.30
|
34.43
|
36.46
|
35.88
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
172.09
|
175.40
|
171.47
|
160.88
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
37.20
Lower than Peers by 7.25
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
37.20
|
41.18
|
48.71
|
46.97
|
54.93
|
|
Peer Median
|
44.46
|
--
|
--
|
--
|
--
|
Price / Book Value
3.21
Lower than Peers by 0.63
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
3.21
|
3.34
|
4.25
|
3.69
|
3.58
|
|
Peer Median
|
3.84
|
--
|
--
|
--
|
--
|
Dividend Yield
--
--
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
EV/EBITDA
15.91
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
15.91
|
17.29
|
22.92
|
20.70
|
23.82
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Market Cap
5,421
Higher than Peers by 4,878
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Merit Medical Systems (MMSI)
|
5,421
|
--
|
--
|
--
|
--
|
|
Peer Median
|
542
|
--
|
--
|
--
|
--
|