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MARKETS / NASDAQ / MMSI
NASDAQ · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · LARGE CAP

Merit Medical Systems Inc. MMSI

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.5B
▲ 11.8% YoY
$128.5M
▲ 6.8% YoY
$215.7M
▲ 16.2% YoY
In brief

What this company does

Merit Medical Systems, Inc. manufactures and markets proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. It maintains packaging and manufacturing facilities in Texas, Florida, Virginia, Utah, Minnesota, Mexico, Brazil, Ireland, France, The Netherlands, and Singapore. As of December 31, 2025, it had approximately 7,500 employees located in approximately 43 countries. Sales of its products in the U.S. accounted for 60%, 59% and 58% of net sales for the years ended December 31, 2025, 2024 and 2023, respectively. It conducts its business through two operating segments: cardiovascular and endoscopy. Merit Medical Systems, Inc. was founded in 1987 by Fred P. Lampropoulos, Kent W. Stanger, Darla Gill and William Padilla.

Written from the business description in Merit Medical Systems, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.5B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.5 · Net income 0.1
0.8B200920112013201520172019202120232025
Compound annual growth
+9.6%
+9.5%
+10.8%
+11.5%
+19.9%
+18.4%
+18.2%
+14.9%
+12.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 12.2% · Net 8.5%
5%10%200920112013201520172019202120232025
ROE
FY2025 · ROE 8.7%
5%200920112013201520172019202120232025

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 215.7
80M160M-10M-20M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2011 · Dividends — · Net buybacks -95.5
-40M-80M200920102011

Total assetsUSD 2.7B
EquityUSD 1.6B
CashUSD 446.4M
Gross debtUSD 734.0M
Net debtUSD 287.6M
Current ratio4.34×

Net debt stands at 18% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B1.51.41.31.21.11.01.00.90.70.60.50.50.40.40.40.30.3
Operating income $B0.20.20.10.10.1−0.00.00.10.00.00.00.00.00.00.00.00.0
EBITDA $B0.30.30.20.20.10.10.10.10.10.10.10.10.10.10.10.00.0
Income tax $B0.00.00.00.00.0−0.0−0.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.10.10.10.10.0−0.00.00.00.00.00.00.00.00.00.00.00.0
Free cash flow $B0.20.20.10.10.10.1−0.00.00.00.00.00.0−0.0−0.0−0.00.00.0
EPS, diluted $2.132.031.621.290.84−0.180.100.780.550.450.530.530.390.460.580.350.63
Dividend / sh $·················
Payout %·················
ROE %8.79.38.06.84.8−1.00.65.24.74.25.35.54.25.2···
Shares out B0.060.060.060.060.060.060.060.050.050.040.040.04·····

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySurgical & Medical Instruments & Apparatus
Listed onNASDAQ
Incorporated inUtah
Fiscal year endsDecember 31
Data on record since2009

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