Touchstone
Last syncNov 1, 2026, 6:55 PM ET

MMSI

Merit Medical Systems Inc Health Care Surgical & Medical Instruments & Apparatus Russell 3000
$86.24Close $5.1BMarket cap $60.31 – $94.2052-week range Late-januaryNext report · estimated

Highlights

Strengths

  • Earnings growing EPS +51% year on year, faster than the quarter before (+31 pts)

Cautions

  • Trend not confirmed 6 of 8 conditions · under the 50-day, RS under 70

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Oct 29, 2026
Off 12-month high 8%
1wk down 7.6% price change
1mo 0.0% price change
12-month return up 4% market up 11% · its own down 5%
F-score 8 / 9 Exceptional
Altman Z 4.37 Low risk
P/E 39.9× price / earnings
PEG 8.27 P/E / EPS growth
P/B 3.2× price / book
Earnings yield up 3.4% EBIT / enterprise value
Cheaper than 53% of the market · around average
Revenue growth up 12% year on year
EPS growth up 51% latest quarter · +31 pts
Sales growth up 8% latest quarter · -1 pts
ROE up 9% return on equity
Free cash margin up 14% $215.7M FCF
D/E 0.46 long-term debt / equity
Net debt / EBITDA 0.9×
Interest cover —EBIT / interest
Piotroski tests
  • issued more shares
  • profitable on its assets
  • generating cash from operations
  • profitability improving
  • profits backed by cash
  • reduced long-term debt
  • short-term liquidity improved
  • gross margin widened
  • assets working harder

Repair signals

  • Gross margin 47.4% → 48.7%

Trade setup

ATR% 3.1% $2.69 a day · 2×ATR $80.85
RS 64 / 99 vs the universe
Trend 6 / 8 under the 50-day, RS under 70
Relative volume 2.9× vs 50-day average
Up/down volume 0.82 50 sessions
Implied move — no scheduled report
Trend template · 6 of 8
  • Price above the 50-day average: fails
  • RS rank 70 or higher: fails

Screen verdict

Did not qualify for any screen.

Warning signs

none flagged
  • No restatement or impairment
  • Equity positive
  • Interest covered
  • No material dilution
  • Profits tracking cash
  • Margins and revenue not shrinking
Last reported Oct 29, 2026
Results reaction Oct 29, 2026-4% vs market2 sessions after results

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $1.5B +12% on FY2024
$0 $2B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $963.9M FY2021 · $1.1B FY2022 · $1.2B FY2023 · $1.3B FY2024 · $1.4B FY2025 · $1.5B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $128.5M +7% on FY2024
$0 $200M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · -$9.8M FY2021 · $48.5M FY2022 · $74.5M FY2023 · $94.4M FY2024 · $120.4M FY2025 · $128.5M
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $215.7M +16% on FY2024
$0 $250M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $119.3M FY2021 · $119.3M FY2022 · $69.3M FY2023 · $110.9M FY2024 · $185.7M FY2025 · $215.7M
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 49%
  • Net 8%
  • Free cash 14%
0% 50% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 42% · Net -1% · Free cash 12% FY2021 · Gross 45% · Net 5% · Free cash 11% FY2022 · Gross 45% · Net 6% · Free cash 6% FY2023 · Gross 46% · Net 8% · Free cash 9% FY2024 · Gross 47% · Net 9% · Free cash 14% FY2025 · Gross 49% · Net 8% · Free cash 14%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $287.6M net debt
  • Cash
  • Long-term debt
$0 $1B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $56.9M · Long-term debt $343.7M FY2021 · Cash $67.8M · Long-term debt $234.4M FY2022 · Cash $58.4M · Long-term debt $186.8M FY2023 · Cash $587.0M · Long-term debt $823.0M FY2024 · Cash $376.7M · Long-term debt $729.6M FY2025 · Cash $446.4M · Long-term debt $734.0M
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 59.42m +6.8% since FY2020
59.42m 55.62m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 55.62m FY2021 · 56.57m FY2022 · 57.31m FY2023 · 57.86m FY2024 · 58.74m FY2025 · 59.42m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $963.9M $1.1B $1.2B $1.3B $1.4B $1.5B
Gross margin 42% 45% 45% 46% 47% 49%
Operating income -$1.6M $60.9M $87.6M $123.9M $155.7M $184.7M
Net income -$9.8M $48.5M $74.5M $94.4M $120.4M $128.5M
Net margin -1% 5% 6% 8% 9% 8%
Earnings per share -$0.18 $0.84 $1.29 $1.62 $2.03 $2.13
Free cash flow $119.3M $119.3M $69.3M $110.9M $185.7M $215.7M
Free cash margin 12% 11% 6% 9% 14% 14%
Cash $56.9M $67.8M $58.4M $587.0M $376.7M $446.4M
Long-term debt $343.7M $234.4M $186.8M $823.0M $729.6M $734.0M
Shareholders' equity $958.6M $1.0B $1.1B $1.2B $1.4B $1.6B
Shares outstanding 55.62m 56.57m 57.31m 57.86m 58.74m 59.42m

Filings

SEC EDGAR
FiledReportPeriod to Lag
Oct 29, 2026 Quarterly ↗ Sep 30, 2026 29d
Jul 30, 2026 Quarterly ↗ Jun 30, 2026 30d
Apr 30, 2026 Quarterly ↗ Mar 31, 2026 30d
Feb 24, 2026 Annual ↗ Dec 31, 2025 55d
Oct 30, 2025 Quarterly ↗ Sep 30, 2025 30d
Jul 30, 2025 Quarterly ↗ Jun 30, 2025 30d
Apr 24, 2025 Quarterly ↗ Mar 31, 2025 24d
Feb 25, 2025 Annual ↗ Dec 31, 2024 56d
Oct 30, 2024 Quarterly ↗ Sep 30, 2024 30d
Aug 1, 2024 Quarterly ↗ Jun 30, 2024 32d
Apr 30, 2024 Quarterly ↗ Mar 31, 2024 30d
Feb 28, 2024 Annual ↗ Dec 31, 2023 59d

Current reports

FiledDisclosed
Oct 29, 2026 Results · Regulation FD ↗
Aug 20, 2026 Director or officer change · Regulation FD ↗
Jul 30, 2026 Results · Regulation FD ↗
May 19, 2026 Director or officer change · Charter or bylaws · Shareholder vote · Regulation FD ↗
Apr 30, 2026 Results · Regulation FD ↗
Apr 13, 2026 Regulation FD ↗
Apr 1, 2026 Regulation FD ↗
Feb 24, 2026 Results · Regulation FD ↗
Jan 8, 2026 Results · Director or officer change · Regulation FD ↗
Nov 13, 2025 Regulation FD ↗
Nov 3, 2025 Regulation FD ↗
Oct 30, 2025 Results · Regulation FD ↗