# Merit Medical Systems Inc. (MMSI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Health Care Equipment & Supplies. Price $89.60, market value $5.4 billion.

## Valuation
- **P/E (trailing): 36.9×** (5-yr avg 53.0×, 3-yr avg 45.3×). Merit Medical Systems Inc. trades at 36.9× trailing earnings, well below its own five-year average of 53.0×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 19.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 3.94**. A PEG of 3.94 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 3.4×**. Each dollar of revenue is priced at 3.4×.
- **Price / book: 3.2×**. The shares trade at 3.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 17.3×**. Enterprise value is 17.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 3.8%** (5-yr avg 3.0%). Free cash flow equals 3.8% of the market value, above its five-year average of 3.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 2.7%**. The inverse of the P/E: 2.7% of the price is earned each year.

## Profitability
- **Gross margin: 49.5%**. Merit Medical Systems Inc. keeps 49.5% of revenue after the direct cost of what it sells.
- **Operating margin: 12.8%**. 12.8% of revenue is left after running the business.
- **Net margin: 8.5%**. 8.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.1%**. 8.1% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 8.5%**. Return on all capital, debt included, is 8.5%.
- **Return on assets: 5.4%**. Each dollar of assets produces 5.4% of profit.

## Growth
- **Revenue growth (1 yr): 11.8%** (3-yr 9.6%/yr, 5-yr 9.5%/yr). Revenue grew 11.8% over the last year, against 9.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 4.9%** (3-yr 18.2%/yr). Earnings per share rose 4.9%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 46.0%/yr**. Free cash flow has compounded at 46.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.46**. Debt is 0.46 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.9×**. It would take 0.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 4.53**. A Z-score of 4.53 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Merit Medical Systems Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (11 analysts). 11 analysts cover Merit Medical Systems Inc.; the consensus is buy, with an average price target of $101.45 (+13% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -2.8%** (YTD 1.7%, 3-mo 39.0%). The shares are down 2.8% over twelve months including dividends.
- **From 52-week high: -5.4%** (50.0% above the low). Trading 5% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 0.49** (volatility 30%). Beta of 0.49 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MMSI · Page: https://foliofundamentals.com/stocks/mmsi

Not investment advice.