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Our Company Merit Medical Systems, Inc. is a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. Each day we are determined to make a difference by understanding our customers needs and innovating and delivering a diverse range of products tha…
$68.61
$1.11 (-1.59%)
Price from 41 days ago
12.20% operating margin is respectable but not wide. ROIC at 6.21%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 11.7%, still solid.
At 30x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
29.6x earnings, 18.6x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.54B
▲ +11.7% YoY
Net Income (TTM)
$139M
▲ +6.8% YoY
Op. Margin
12.19%
▲ +0.7pp YoY
ROIC
5.91%
▲ +0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$221M
▲ +16.2% YoY
Op. Cash Flow (TTM)
$297M
▲ +34.7% YoY
Net Debt
$333M
Cash & Equiv.
$488M
5Y CAGR: +9.5%
5Y CAGR: +12.6%
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