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Equiscale · Syntellia LLC
Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States, China, Japan, Germany, France, the United Kingdom, and internationally. It operates through two segments, Cardiovascular and Endoscopy. The company offers micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention products comprising angiography, drainage, delivery systems, and embolotherapy products; oncology products, such as soft tissue biopsy products and accessories; cardiac intervention products consisting of cardiac access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention products; and spine products, including vertebral augmentation, radiofrequency ablation, and bone biopsy systems. It also provides custom procedural solutions, including critical care products, syringes, manifold kits, and trays and packs; coating services for medical tubes and wires; and sensor components for microelectromechanical systems. In addition, the company offers gastroenterology products, such as esophageal stents, cryoballoon and inflation devices, gauges, and balloon dilators; pulmonary products consisting of laser-cut tracheobronchial stents, and over-the-wire and direct visualization delivery systems; and kits and accessories for endoscopy and bronchoscopy procedures. It sells its products to hospitals, alternate site-based physicians, technicians, and nurses through direct sales force, independent distributors, original equipment manufacturer partners, and custom procedure tray manufacturers. The company exports its products to Canada, Western Europe, Australia, Brazil, Malaysia, South Korea, the United Arab Emirates, India, New Zealand, and South Africa. Merit Medical Systems, Inc. was incorporated in 1987 and is headquartered in South Jordan, Utah.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.5B | $332M | $128M | $213M | 8.1% | 11.8% | 6.8% |
| 2024 | $1.4B | $296M | $120M | $183M | 8.7% | 7.9% | 27.5% |
| 2023 | $1.3B | $229M | $94M | $108M | 7.9% | 9.2% | 26.7% |
| 2022 | $1.2B | $181M | $75M | $66M | 6.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,150.98 | 1,257.37 | 1,356.51 | 1,515.91 |
| Operating Revenue | - | 1,150.98 | 1,257.37 | 1,356.51 | 1,515.91 |
| Cost Of Revenue | - | 631.88 | 673.49 | 713.18 | 777.64 |
| Gross Profit | - | 519.10 | 583.87 | 643.33 | 738.27 |
| Operating Expense | - | 418.04 | 456.40 | 487.20 | 552.57 |
| Research And Development | - | 75.51 | 82.73 | 87.47 | 97.35 |
| Selling General And Administration | - | 342.52 | 373.68 | 399.73 | 455.21 |
| Total Expenses | - | 1,049.92 | 1,129.90 | 1,200.38 | 1,330.20 |
| Operating Income | - | 101.06 | 127.47 | 156.14 | 185.70 |
| Total Operating Income As Reported | - | 87.56 | 123.94 | 155.69 | 184.72 |
| EBITDA | - | 181.17 | 228.89 | 295.94 | 332.05 |
| Normalized EBITDA | - | 194.67 | 232.42 | 296.39 | 333.03 |
| EBIT | - | 88.97 | 127.60 | 181.21 | 197.40 |
| Interest Income | - | 0.44 | 2.46 | 26.23 | 15.07 |
| Interest Expense | - | 6.34 | 15.51 | 31.22 | 26.46 |
| Net Interest Income | - | -5.90 | -13.06 | -4.99 | -11.39 |
| Other Non Operating Income Expenses | - | 0.97 | 1.20 | -0.71 | -2.39 |
| Other Income Expense | - | -12.54 | -2.32 | -1.15 | -3.38 |
| Interest Income Non Operating | - | 0.44 | 2.46 | 26.23 | 15.07 |
| Interest Expense Non Operating | - | 6.34 | 15.51 | 31.22 | 26.46 |
| Net Non Operating Interest Income Expense | - | -5.90 | -13.06 | -4.99 | -11.39 |
| Pretax Income | - | 82.63 | 112.09 | 149.99 | 170.94 |
| Tax Provision | - | 8.11 | 17.68 | 29.64 | 42.45 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.32 | -0.56 | -0.09 | -0.24 |
| Net Income Continuous Operations | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Net Income From Continuing And Discontinued Operation | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Net Income From Continuing Operation Net Minority Interest | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Net Income | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Net Income Common Stockholders | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Net Income Including Noncontrolling Interests | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Normalized Income | - | 86.69 | 97.38 | 120.71 | 129.23 |
| Diluted NI Availto Com Stockholders | - | 74.52 | 94.41 | 120.36 | 128.49 |
| Basic Average Shares | - | 56.81 | 57.59 | 58.22 | 59.16 |
| Diluted Average Shares | - | 57.67 | 58.36 | 59.36 | 60.46 |
| Reconciled Depreciation | - | 92.20 | 101.29 | 114.73 | 134.65 |
| Reconciled Cost Of Revenue | - | 631.88 | 673.49 | 713.18 | 777.64 |
| Total Unusual Items | - | -13.50 | -3.52 | -0.44 | -0.98 |
| Total Unusual Items Excluding Goodwill | - | -13.50 | -3.52 | -0.44 | -0.98 |
| Special Income Charges | - | -13.50 | -3.52 | -0.44 | -0.98 |
| Other Special Charges | 10.04 | 6.67 | 1.55 | - | - |
| Impairment Of Capital Assets | - | 2.22 | 0.27 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 4.61 | 1.70 | 0.44 | 0.98 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Merit Medical Systems, Inc.this co. | MMSI | $3.8B | 29.27 | 2.37 | 8.1% | 12.46 |
| Amneal Pharmaceuticals, Inc. | AMRX | $4.3B | 59.86 | -60.93 | -101.8% | 11.13 |
| RadNet, Inc. | RDNT | $4.2B | -222.64 | 3.81 | -1.7% | 16.71 |
| Veracyte, Inc. | VCYT | $4.0B | 60.06 | 3.04 | 5.1% | 40.86 |
| Waystar Holding Corp. | WAY | $3.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 34.60 |
| 1.00 |
| 2.9% |
| 13.55 |
| Catalyst Pharmaceuticals, Inc. | CPRX | $3.8B | 17.87 | 4.01 | 22.5% | 10.56 |
| ACADIA Pharmaceuticals Inc. | ACAD | $3.7B | 9.51 | 3.03 | 31.9% | 30.83 |
| Organon & Co. | OGN | $3.5B | 18.82 | 4.68 | 24.9% | 8.98 |
| ICU Medical, Inc. | ICUI | $3.4B | 4607.08 | 1.59 | 0.0% | 14.73 |
| Peer Median | - | 26.71 | 3.04 | 4.0% | 14.14 | |
Historically, Oct has averaged the highest return (+4.0%); Apr the lowest (-2.2%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.0%Negative MonthJan 2026: -8.00% | -4.8%Negative MonthFeb 2026: -4.82% | -10.7%Negative MonthMar 2026: -10.69% | -1.1%Neutral MonthApr 2026: -1.09% | -7.5%Negative MonthMay 2026: -7.51% | +10.0%Positive MonthJun 2026: +9.96% | +22.6%Positive MonthJul 2026: +22.60% | +8.2%*Positive MonthAug 2026: +8.20% | — | — | — | — |
| 2025 | +12.6%Positive MonthJan 2025: +12.57% | -6.3%Negative MonthFeb 2025: -6.28% | +3.6%Positive MonthMar 2025: +3.60% | -10.7%Negative MonthApr 2025: -10.65% | +0.6%Neutral MonthMay 2025: +0.61% | -1.6%Neutral MonthJun 2025: -1.63% | -9.2%Negative MonthJul 2025: -9.22% | +6.7%Positive MonthAug 2025: +6.69% | -8.1%Negative MonthSep 2025: -8.07% | +5.2%Positive MonthOct 2025: +5.18% | -1.1%Neutral MonthNov 2025: -1.09% | +1.8%Neutral MonthDec 2025: +1.79% |
| 2024 | +3.1%Positive MonthJan 2024: +3.08% | -2.7%Negative MonthFeb 2024: -2.68% | -0.6%Neutral MonthMar 2024: -0.59% | -2.2%Negative MonthApr 2024: -2.18% | +9.5%Positive MonthMay 2024: +9.51% | +5.9%Positive MonthJun 2024: +5.91% | -0.8%Neutral MonthJul 2024: -0.77% | +13.4%Positive MonthAug 2024: +13.35% | +2.2%Positive MonthSep 2024: +2.22% | -0.2%Neutral MonthOct 2024: -0.17% | +5.3%Positive MonthNov 2024: +5.31% | -6.9%Negative MonthDec 2024: -6.91% |
| 2023 | +1.0%Neutral MonthJan 2023: +1.03% | -1.1%Neutral MonthFeb 2023: -1.08% | +4.8%Positive MonthMar 2023: +4.77% | +9.9%Positive MonthApr 2023: +9.93% | +1.4%Neutral MonthMay 2023: +1.37% | +1.5%Neutral MonthJun 2023: +1.50% | -10.7%Negative MonthJul 2023: -10.72% | -12.6%Negative MonthAug 2023: -12.58% | +5.7%Positive MonthSep 2023: +5.73% | -0.4%Neutral MonthOct 2023: -0.41% | +4.1%Positive MonthNov 2023: +4.10% | +6.1%Positive MonthDec 2023: +6.15% |
| 2022 | -11.0%Negative MonthJan 2022: -11.00% | +17.3%Positive MonthFeb 2022: +17.28% | +2.3%Positive MonthMar 2022: +2.29% | -6.8%Negative MonthApr 2022: -6.78% | -1.0%Neutral MonthMay 2022: -1.00% | -11.6%Negative MonthJun 2022: -11.60% | +5.9%Positive MonthJul 2022: +5.91% | +3.0%Positive MonthAug 2022: +3.04% | -4.6%Negative MonthSep 2022: -4.59% | +21.7%Positive MonthOct 2022: +21.70% | +4.7%Positive MonthNov 2022: +4.70% | -1.9%Neutral MonthDec 2022: -1.92% |
| 2021 | — | — | — | — | -5.1%Negative MonthMay 2021: -5.13% | +7.2%Positive MonthJun 2021: +7.16% | +8.4%Positive MonthJul 2021: +8.40% | +2.4%Positive MonthAug 2021: +2.40% | +0.0%Neutral MonthSep 2021: +0.04% | -6.3%Negative MonthOct 2021: -6.32% | -6.5%Negative MonthNov 2021: -6.54% | -0.9%Neutral MonthDec 2021: -0.89% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
