MMSI
$89.20-0.41%
Merit Medical Systems Inc.Stock · HealthcareRussell 2000 0.1%Nasdaq Composite 0.01%Russell 3000 0.006%US Stock Market 0.005%
MMSI financial statements
The full income statement, balance sheet, and cash-flow statement for Merit Medical Systems Inc. (MMSI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 58.2M2024-09 58.3M2024-12 58.8M2025-03 59.1M2025-06 59.2M2025-09 59.3M2025-12 59.4M2026-03 59.7M2026-06 59.7M+2.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 1.52B+11.8% | 1.36B+7.9% | 1.26B+9.2% | 1.15B+7.1% | 1.07B+11.5% | |
| 738M+14.8% | 643M+10.2% | 584M+12.5% | 519M+7.0% | 485M+21.0% | ||
| Cost of revenue | 778M+9.0% | 713M+5.9% | 673M+6.6% | 632M+7.2% | 589M+4.7% | |
| 554M+13.5% | 488M+6.0% | 460M+6.6% | 432M+1.7% | 424M+5.4% | ||
| Research & development | 97.4M+11.3% | 87.5M+5.7% | 82.7M+9.6% | 75.5M+6.0% | 71.2M+23.8% | |
| Selling, general & administrative | 455M+13.9% | 400M+7.0% | 374M+9.1% | 343M+2.0% | 336M+12.8% | |
| Restructuring | 5.90M+90.3% | 3.10M+14.8% | 2.70M-62.5% | 7.20M | — | |
| Amortization of intangibles | 85.1M+29.7% | 65.6M+16.9% | 56.1M+15.9% | 48.4M-2.4% | 49.6M-15.4% | |
| Operating income | 185M+18.6% | 156M+25.6% | 124M+41.5% | 87.6M+43.7% | 60.9M+3999.9% | |
| Interest expense | 26.5M-15.2% | 31.2M+101.3% | 15.5M+144.7% | 6.34M+20.5% | 5.26M-47.4% | |
| Other non-operating income | -2.39M-236.4% | -711K-159.3% | 1.20M+24.2% | 966K+138.5% | -2.51M-10.0% | |
| Pre-tax income | 171M+14.0% | 150M+33.8% | 112M+35.7% | 82.6M+53.3% | 53.9M+507.5% | |
| Income tax | 42.4M+43.2% | 29.6M+67.6% | 17.7M+117.9% | 8.11M+48.5% | 5.46M+261.2% | |
| Net income | 128M+6.8% | 120M+27.5% | 94.4M+26.7% | 74.5M+53.8% | 48.5M+592.3% | |
| $2.13+4.9% | $2.03+25.3% | $1.62+25.6% | $1.29+53.6% | $0.84+566.7% | ||
| EPS (basic) | $2.17+4.8% | $2.07+26.2% | $1.64+25.2% | $1.31+52.3% | $0.86+577.8% | |
| Weighted-avg shares (basic) | 59.2M+1.6% | 58.2M+1.1% | 57.6M+1.4% | 56.8M+1.2% | 56.1M+1.3% | |
| Weighted-avg shares (diluted) | 60.5M+1.8% | 59.4M+1.7% | 58.4M+1.2% | 57.7M+0.5% | 57.4M+3.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.04B+12.6% | 924M-16.7% | 1.11B+109.5% | 529M+9.7% | 482M+12.2% | ||
| Cash & equivalents | 446M+18.5% | 377M-35.8% | 587M+905.1% | 58.4M-13.8% | 67.8M+19.0% | |
| Accounts receivable | 204M+7.1% | 190M+6.9% | 178M+8.0% | 165M+8.1% | 152M+3.9% | |
| Inventory | 334M+9.0% | 306M+0.7% | 304M+14.2% | 266M+19.9% | 222M+12.1% | |
| Prepaid expenses | 31.5M+10.3% | 28.5M+17.5% | 24.3M+8.8% | 22.3M+38.2% | 16.1M+23.1% | |
| 2.69B+11.1% | 2.42B+4.0% | 2.33B+39.7% | 1.66B+1.0% | 1.65B-1.0% | ||
| Property, plant & equipment | 428M+10.9% | 386M+0.7% | 384M+0.1% | 383M+3.0% | 372M-2.9% | |
| Operating lease right-of-use | 87.6M+33.7% | 65.5M+3.9% | 63.0M-3.4% | 65.3M-1.0% | 65.9M-15.8% | |
| Goodwill | 507M+9.3% | 464M+21.3% | 382M+6.2% | 360M-0.5% | 362M-0.5% | |
| Deferred tax assets | 7.05M-56.1% | 16.0M+120.1% | 7.29M+10.4% | 6.60M+8.5% | 6.08M+32.3% | |
| Other non-current assets | 78.2M+19.7% | 65.3M+19.2% | 54.8M+23.5% | 44.4M+7.1% | 41.4M+9.9% | |
| 240M+10.8% | 216M+6.3% | 204M-7.7% | 221M-6.6% | 236M+27.7% | ||
| Accounts payable | 60.6M-11.6% | 68.5M+3.9% | 65.9M-3.7% | 68.5M+23.2% | 55.6M+11.6% | |
| Accrued liabilities | 159M+19.0% | 134M+11.3% | 120M-2.2% | 123M-22.5% | 159M+42.0% | |
| Short-term & current debt | — | — | — | 11.3M+33.3% | 8.44M+12.5% | |
| Current lease liability | 10.9M+5.3% | 10.3M-14.5% | 12.1M+9.8% | 11.0M+3.2% | 10.7M-17.3% | |
| 1.10B+6.0% | 1.04B-7.5% | 1.12B+116.2% | 520M-14.6% | 608M-13.8% | ||
| Long-term debt | 734M+0.6% | 730M-11.4% | 823M+340.7% | 187M-20.3% | 234M-31.8% | |
| Deferred revenue (non-current) | 1.40M-6.9% | 1.50M-6.4% | 1.60M-6.0% | 1.71M-5.9% | 1.81M-5.6% | |
| Non-current lease liability | 76.7M+39.9% | 54.8M-2.6% | 56.3M-5.8% | 59.7M-2.9% | 61.5M-13.3% | |
| Operating lease liability (total) | 87.5M+34.4% | 65.1M-4.7% | 68.3M-3.4% | 70.7M-2.0% | 72.2M-13.9% | |
| Deferred tax liabilities | 19.7M+8093.8% | 240K-95.7% | 5.55M-70.0% | 18.5M-41.4% | 31.5M-5.4% | |
| Other non-current liabilities | 10.3M-33.3% | 15.5M+11.7% | 13.8M-6.1% | 14.7M-37.5% | 23.6M-55.3% | |
| 1.58B+14.9% | 1.38B+14.8% | 1.20B+5.0% | 1.14B+10.1% | 1.04B+8.5% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 764M+8.6% | 703M+10.2% | 638M-5.5% | 675M+5.2% | 642M+5.8% | |
| Retained earnings | 824M+18.5% | 696M+20.9% | 575M+19.6% | 481M+18.3% | 406M+13.5% | |
| Accumulated other comprehensive income | -3.64M+81.3% | -19.4M-71.2% | -11.3M+1.9% | -11.6M-44.5% | -7.99M-46.6% | |
| Total liabilities & equity | 2.69B+11.1% | 2.42B+4.0% | 2.33B+39.7% | 1.66B+1.0% | 1.65B-1.0% | |
| Common shares issued | 59.4M+1.2% | 58.7M+1.5% | 57.9M+1.0% | 57.3M+1.3% | 56.6M+1.7% | |
| Common shares outstanding | 59.4M+1.2% | 58.7M+1.5% | 57.9M+1.0% | 57.3M+1.3% | 56.6M+1.7% | |
| Shares outstanding (cover) | 59.4M+1.0% | 58.8M+1.6% | 57.9M+1.1% | 57.3M+1.3% | 56.6M+1.6% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 297M+34.7% | 221M+52.1% | 145M+27.0% | 114M-22.4% | 147M-10.9% | ||
| Depreciation & amortization | 123M+19.9% | 103M+14.1% | 90.0M+10.0% | 81.8M-2.7% | 84.1M-10.6% | |
| Intangible amortization | 85.1M+29.7% | 65.6M+16.9% | 56.1M+15.9% | 48.4M-2.4% | 49.6M-15.4% | |
| Share-based compensation | 43.5M+52.6% | 28.5M+33.5% | 21.3M+18.2% | 18.0M+12.1% | 16.1M+12.2% | |
| Deferred income taxes | 5.21M+135.1% | -14.9M-17.6% | -12.6M+15.3% | -14.9M-222.3% | -4.63M+59.0% | |
| Change in receivables | 7.34M-46.4% | 13.7M+14.9% | 11.9M-21.2% | 15.1M+75.4% | 8.62M+182.7% | |
| Change in inventory | 21.6M+844.6% | 2.29M-92.9% | 32.1M-33.0% | 47.9M+90.3% | 25.2M+185.6% | |
| -247M+32.9% | -369M-110.2% | -175M-205.5% | -57.4M-54.5% | -37.2M+36.6% | ||
| Capital expenditure | 81.7M+132.5% | 35.1M+2.5% | 34.3M-23.8% | 45.0M+61.2% | 27.9M-39.2% | |
| Free cash flow | 216M+16.2% | 186M+67.5% | 111M+60.1% | 69.3M-41.9% | 119M+0.0% | |
| Acquisitions | 145M-54.8% | 320M+138.0% | 135M+1856.7% | 6.88M-4.1% | 7.17M-34.5% | |
| Proceeds from sale of PP&E | — | 5.00K-97.5% | 201K+209.2% | 65.0K-93.7% | 1.04M+2369.0% | |
| 16.0M+126.7% | -60.0M-110.7% | 559M+1028.1% | -60.3M+38.8% | -98.4M-2.9% | ||
| Long-term debt issued | 0.00 | 0.00-100.0% | 1.20B+457.2% | 215M+118.7% | 98.4M+43.4% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00-100.0% | 260M+25.7% | 207M+31.8% | |
| Common stock issued | 28.2M-31.0% | 40.9M+162.5% | 15.6M-22.4% | 20.1M-5.8% | 21.3M+221.1% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | — | — | — | — | -801K-147.6% | |
| Net change in cash | 69.8M+133.2% | -210M-139.8% | 529M+7449.6% | -7.19M-166.4% | 10.8M-14.0% | |
| Interest paid | 21.0M-9.7% | 23.2M+65.4% | 14.1M+124.5% | 6.26M+19.0% | 5.26M-47.8% | |
| Income taxes paid | 31.4M-30.3% | 45.0M+42.9% | 31.5M+84.5% | 17.1M+93.6% | 8.83M-1.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 5.24B-7.9% | 5.69B+29.7% | 4.39B+9.1% | 4.02B+14.0% | 3.52B+14.0% | |
| P/E | 40.8×-13.8% | 47.3×+8.0% | 43.8×-32.8% | 65.1×-10.5% | 72.7× | |
| P/S | 3.5×-17.6% | 4.2×+17.3% | 3.6×+1.1% | 3.5×+7.9% | 3.3×+2.2% | |
| P/B | 3.3×-19.9% | 4.1×+15.7% | 3.6×-3.4% | 3.7×+8.9% | 3.4×+5.1% | |
| P/FCF | 24.3×-20.7% | 30.7×-50.2% | 61.6×+39.7% | 44.1×+49.1% | 29.5×+14.0% | |
| Earnings yield | 2.5%+16.0% | 2.1%-7.4% | 2.3%+48.7% | 1.5%+11.7% | 1.4% | |
| FCF yield | 4.1%+26.2% | 3.3%+100.8% | 1.6%-28.4% | 2.3%-32.9% | 3.4%-12.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: MMSI’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MMSI filings on SEC EDGAR → Not investment advice.