Stock AnalizMerit Medical Systems Inc. MMSI
Medical/Dental Instruments · data as of November 13, 2026
Merit Medical Systems Inc. (MMSI) is a healthcare company listed in the US with a market value of about $5.2B. In the twelve months to September 30, 2026 it had revenue of $1.6B and net income of $160M, a net margin of 9.9%.
Its overall Stock Analiz score is 2.0 out of 5 (weak). The strongest part is future growth (4/5); the weakest is value (0/5).
Key numbers: a P/E of 32.4, a price to free cash flow of 25.5, 5-year revenue growth of 9% a year, a 5-year average ROIC of 5%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 53% below the current price.
Score: 2.0 / 5
Checks passed
- Revenue growth above 10% last year
- Profit margin improving
- 3-year free cash flow growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year revenue growth above 8% a year
- Profitable 5 years in a row
- Positive free cash flow
- Interest covered more than 5 times
Checks not passed
- P/E below 25
- P/E below the industry median
- P/FCF below 20
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- 3-year revenue growth above 10% a year
- 5-year EPS growth above 10% a year
- 5-year average ROIC above 12%
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.5B | $1.4B | $1.3B | $1.2B | $1.1B | $964M | $995M | $883M | $728M | $604M |
| Net income | $160M | $128M | $120M | $94M | $75M | $48M | -$10M | $5M | $42M | $28M | $20M |
| Free cash flow | $204M | $216M | $186M | $111M | $69M | $119M | $119M | -$360000 | $23M | $24M | $21M |
| EPS (diluted) | $2.67 | $2.13 | $2.03 | $1.62 | $1.29 | $0.84 | $-0.18 | $0.10 | $0.78 | $0.55 | $0.45 |
| Net margin | 9.9% | 8.5% | 8.9% | 7.5% | 6.5% | 4.5% | -1.0% | 0.5% | 4.8% | 3.8% | 3.3% |
| ROIC | — | 5.8% | 5.8% | 5.0% | 5.6% | 4.0% | -0.1% | 0.8% | 3.8% | 2.7% | 3.4% |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 12 analysts is $107.00, 24% above the current price; targets range from $90.00 to $123.00; the consensus rating is “Buy”; expected EPS is $4.35 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is Merit Medical Systems’s P/E ratio?
About 32.4, based on the last twelve months of diluted earnings per share (forward P/E about 19.4).
Is Merit Medical Systems stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 53% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Merit Medical Systems pay a dividend?
Not currently.
Is Merit Medical Systems a good stock to buy?
We do not give buy or sell advice. Merit Medical Systems scores 2.0 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.