Is Merit Medical Systems (MMSI) overvalued or fairly valued?

MarketChacha shows Merit Medical Systems's valuation in context — a trailing P/E of about 33.6, a forward P/E of about 16.6, a price-to-book of about 2.7 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Merit Medical Systems's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.93×) from reported figures — education, not a rating.

What is Merit Medical Systems's revenue?

Merit Medical Systems reported revenue of $1.5B for FY2025, with net profit of $128.5M, per official filings.

What is the share price of Merit Medical Systems (MMSI)?

Merit Medical Systems last traded at $72.86 (-0.8% on the day), as of 7/22/2026 — a delayed quote shown for education, not investment advice.

Merit Medical Systems

MMSI · NYSE · Healthcare · United States

$72.86-0.8%

Delayed · as reported by Yahoo Finance · as of Jul 22, 2026, 7:31 PM

Snapshot

TickerMMSI

ExchangeNYSE

SectorHealthcare

IndustryMedical Instruments & Supplies

CountryUnited States

Employees7,500

HeadquartersSouth Jordan, United States

Market cap$4.3B

P/E (TTM)33.6

P/B2.7

Volume274.58K

Websitewww.merit.com

Filings tracked5

About Merit Medical Systems

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.

Profile as reported by Yahoo Finance.

Who owns it

Insiders2.5%
Institutions97.5%
Public & other0.0%

543 institutional holders

As reported by Yahoo Finance.

Top holders

Blackrock Inc.14.81%
Vanguard Portfolio Management LLC5.91%
Vanguard Capital Management LLC4.45%
State Street Corporation3.96%
Conestoga Capital Advisors, LLC3.63%
Fuller & Thaler Asset Management Inc.3.55%
Geode Capital Management, LLC2.53%
Morgan Stanley2.11%

Largest institutional holders, as reported by Yahoo Finance (as of 3/31/2026).

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.93×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend7.5% → 8.5%

Margin has held broadly steady over the period — stable profitability.

Growth qualityrev 10% · PAT 17%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $408.5M · EPS 1.02

Est. earnings growth +11.0%

Next fiscal year

Rev $1.7B · EPS 4.40

Est. earnings growth +8.0%

Analyst consensus estimates — not the company's own guidance. As reported by Yahoo Finance.

$59.7452-wk range$94.75

Delayed · as reported by Yahoo Finance

New to these terms?

P/E ROE ROCE Margins Market cap

Browse the Learn hub →

Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Market cap

$4.3B

Day change

-0.8%

P/E (TTM)

33.6

Fwd P/E

16.6

P/B

2.7

Beta

0.51

Revenue (FY2025)

$1.5B

Net margin

8.5%

ROE

8.1%

Revenue CAGR (2y)

+9.8%

Profit CAGR (2y)

+16.7%

EPS (FY2025)

2.13

Net profit (FY2025)

$128.5M

Market figures: Delayed · as reported by Yahoo Finance. Financials as reported in company filings.

Ask MarketChacha about MMSI

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$1.5B	$128.5M	2.13	8.5%	8.1%
FY2024	$1.4B	$120.4M	2.03	8.9%	8.7%
FY2023	$1.3B	$94.4M	1.62	7.5%	7.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$381.9M	$41.0M	0.68	10.7%
2025Q3	$384.2M	$27.8M	0.46	7.2%
2025Q2	$382.5M	$32.6M	0.54	8.5%
2025Q1	$355.4M	$30.1M	0.49	8.5%
2024Q3	$339.8M	$28.4M	0.48	8.4%
2024Q2	$338.0M	$35.7M	0.61	10.6%
2024Q1	$323.5M	$28.2M	0.48	8.7%
2023Q3	$315.2M	$25.8M	0.44	8.2%
2023Q2	$320.1M	$20.2M	0.35	6.3%
2023Q1	$297.6M	$20.7M	0.36	7.0%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change, Bylaw/charter change, Shareholder vote results, Reg FD disclosure, Exhibits
SEC5/19/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC4/30/2026material
10-Q filing
SEC4/30/2026
8-K — Reg FD disclosure, Exhibits
SEC4/13/2026material
8-K — Reg FD disclosure, Exhibits
SEC4/1/2026material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed · as reported by yahoo finance) are delayed and shown for reference only. Verify with the linked sources before acting.