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MMSI (Merit Medical Systems, Inc.) Stock Financials & Earnings | Market Cap Arena
MMSI
Merit Medical Systems, Inc.
Mkt Cap
$4B
Healthcare
·
Medical - Instruments & Supplies
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$1.5B
Net Income (TTM)
$128M
EPS (TTM)
$2.12
Free Cash Flow (TTM)
$252M
Gross Margin
48.7%
Op. Margin
12.2%
Net Margin
8.5%
FCF Margin
16.6%
P/S Ratio (TTM)
2.8x
P/E Ratio (TTM)
32.7x
YoY Rev Growth
+11.8%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$298M
$138M
$26M
Q2 23
$320M
$153M
$29M
Q3 23
$315M
$142M
$35M
Q4 23
$323M
$135M
$33M
Q1 24
$324M
$152M
$36M
Q2 24
$338M
$161M
$46M
Q3 24
$340M
$158M
$37M
Q4 24
$355M
$173M
$37M
Q1 25
$355M
$172M
$41M
Q2 25
$382M
$184M
$47M
Q3 25
$384M
$186M
$43M
Q4 25
$394M
$195M
$54M
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Revenue Breakdown
MMSI
Merit Medical Systems, Inc.
Revenue Breakdown
Q4 2025
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Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
3.6x
49.6x
Q2 23
3.5x
46.8x
Q3 23
3.4x
41.9x
Q4 23
3.3x
44.5x
Q1 24
3.3x
41.2x
Q2 24
3.2x
35.8x
Q3 24
3.2x
35.0x
Q4 24
3.1x
34.9x
Q1 25
3.0x
34.3x
Q2 25
2.9x
35.2x
Q3 25
2.8x
35.5x
Q4 25
2.8x
32.7x
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$15M
$2M
Q2 23
$17M
$12M
Q3 23
$51M
$42M
Q4 23
$62M
$54M
Q1 24
$36M
$24M
Q2 24
$69M
$57M
Q3 24
$47M
$37M
Q4 24
$69M
$65M
Q1 25
$41M
$19M
Q2 25
$83M
$105M
Q3 25
$75M
$52M
Q4 25
$99M
$77M
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Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$13M
Q2 23
$6M
Q3 23
$9M
Q4 23
$8M
Q1 24
$13M
Q2 24
$11M
Q3 24
$10M
Q4 24
$4M
Q1 25
$22M
Q2 25
$22M
Q3 25
$23M
Q4 25
$22M
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OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+8.0%
+4.2%
Q2 23
+8.5%
+7.2%
Q3 23
+9.8%
+4.3%
Q4 23
+10.2%
+10.5%
Q1 24
+8.7%
+6.0%
Q2 24
+5.6%
+0.3%
Q3 24
+7.8%
+8.0%
Q4 24
+9.9%
+9.7%
Q1 25
+9.8%
+9.3%
Q2 25
+13.2%
+14.9%
Q3 25
+13.0%
+12.9%
Q4 25
+10.9%
+6.6%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$4M
1.3%
Q2 23
$6M
1.7%
Q3 23
$6M
1.8%
Q4 23
$6M
1.9%
Q1 24
$5M
1.6%
Q2 24
$7M
2.1%
Q3 24
$7M
2.0%
Q4 24
$10M
2.7%
Q1 25
$9M
2.6%
Q2 25
$11M
2.8%
Q3 25
$14M
3.5%
Q4 25
$10M
2.5%
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OpEx Breakdown
R&D
SG&A
Quarter
R&D
SG&A
Q1 23
$21M
$90M
Q2 23
$20M
$101M
Q3 23
$20M
$87M
Q4 23
$22M
$81M
Q1 24
$21M
$94M
Q2 24
$20M
$95M
Q3 24
$21M
$100M
Q4 24
$25M
$108M
Q1 25
$22M
$107M
Q2 25
$24M
$113M
Q3 25
$24M
$120M
Q4 25
$27M
$115M
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Revenue Segments
Cardiovascular
Endoscopy
Quarter
Cardiovascular
Endoscopy
Q1 23
$288M
$10M
Q2 23
$311M
$9M
Q3 23
$306M
$9M
Q4 23
$315M
$9M
Q1 24
$313M
$10M
Q2 24
$328M
$10M
Q3 24
$323M
$17M
Q4 24
$338M
$17M
Q1 25
$339M
$17M
Q2 25
$364M
$18M
Q3 25
$366M
$18M
Q4 25
$374M
$20M
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Revenue by Geography
Non-US
United States
Quarter
Non-US
United States
Q2 24
$143M
$195M
Q3 24
$133M
$206M
Q1 25
$142M
$214M
Q2 25
$155M
$227M
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War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$58M
$0
$58M
Q2 23
$74M
$0
$74M
Q3 23
$61M
$0
$61M
Q4 23
$587M
$2M
$589M
Q1 24
$584M
$0
$584M
Q2 24
$639M
$0
$639M
Q3 24
$523M
$0
$523M
Q4 24
$377M
$0
$377M
Q1 25
$396M
$0
$396M
Q2 25
$344M
$0
$344M
Q3 25
$392M
$0
$392M
Q4 25
$449M
$0
$449M
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Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
58M
+0.4%
Q2 23
58M
+0.5%
Q3 23
58M
-0.2%
Q4 23
58M
+0.0%
Q1 24
59M
+0.3%
Q2 24
59M
+0.3%
Q3 24
60M
+1.4%
Q4 24
61M
+1.8%
Q1 25
61M
+1.1%
Q2 25
61M
-1.1%
Q3 25
60M
-1.1%
Q4 25
60M
+0.2%
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Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$164K
3K
FY 15
$144K
4K
FY 16
$146K
4K
FY 17
$149K
5K
FY 18
$153K
6K
FY 19
$157K
6K
FY 20
$161K
6K
FY 21
$167K
6K
FY 22
$168K
7K
FY 23
$181K
7K
FY 24
$183K
7K
FY 25
$202K
8K
marketcaparena.com