MERIT MEDICAL SYSTEMS INC
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MMSI FY 2025 request
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/api/financials?ticker=MMSI&year=2025&quarter=4&full_year_mode=true
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 1,515,906 | 1,356,514 | +11.8% |
Show Product Lines breakouts |
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| Cardiac Intervention · Cardiovascular | 187,355 | 147,961 | +26.6% |
| Cardiac Intervention · Cardiovascular | 261,559 | 220,990 | +18.4% |
| Cardiac Intervention · Cardiovascular | 448,914 | 368,951 | +21.7% |
| Custom Procedural Solutions · Cardiovascular | 128,570 | 122,156 | +5.3% |
| Custom Procedural Solutions · Cardiovascular | 80,763 | 77,877 | +3.7% |
| Custom Procedural Solutions · Cardiovascular | 209,333 | 200,033 | +4.6% |
| Endoscopy Devices · Endoscopy | 68,884 | 51,836 | +32.9% |
| Endoscopy Devices · Endoscopy | 3,980 | 2,934 | +35.7% |
| Endoscopy Devices · Endoscopy | 72,864 | 54,770 | +33.0% |
| OEM · Cardiovascular | 182,716 | 166,160 | +10.0% |
| OEM · Cardiovascular | 22,239 | 33,830 | -34.3% |
| OEM · Cardiovascular | 204,955 | 199,990 | +2.5% |
| Peripheral Intervention · Cardiovascular | 341,941 | 312,667 | +9.4% |
| Peripheral Intervention · Cardiovascular | 237,899 | 220,103 | +8.1% |
| Peripheral Intervention · Cardiovascular | 579,840 | 532,770 | +8.8% |
Show Business Segments breakouts |
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| Cardiovascular | 1,443,042 | 1,301,744 | +10.9% |
| Cardiovascular · Non Us | 602,460 | 552,800 | +9.0% |
| Cardiovascular · US | 840,582 | 748,944 | +12.2% |
| Endoscopy | 72,864 | 54,770 | +33.0% |
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| Non Us | 606,440 | 555,734 | +9.1% |
| US | 909,466 | 800,780 | +13.6% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -1,176 | -2,140 | +45.0% |
| Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income | -1,176 | -2,140 | +45.0% |
| Cost of Revenue | 777,636 | 713,181 | +9.0% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | 151 | 644 | -76.6% |
| Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income | 151 | 644 | -76.6% |
| Gross Profit | 738,270 | 643,333 | +14.8% |
| Selling, General & Administrative | 455,214 | 399,731 | +13.9% |
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| Cardiovascular | 431,252 | 376,734 | +14.5% |
| Endoscopy | 23,962 | 22,997 | +4.2% |
| Research And Development Expense Excluding Acquired In Process Cost | 97,352 | 87,466 | +11.3% |
| Business Combination Contingent Consideration Arrangements Contingent Consideration Benefit | 984 | 443 | +122.1% |
| Operating Expenses | 553,550 | 487,640 | +13.5% |
| Operating Income | 184,720 | 155,693 | +18.6% |
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| Cardiovascular | 166,133 | 150,150 | +10.6% |
| Endoscopy | 18,587 | 5,543 | +235.3% |
| Investment Income Net | 15,070 | 26,230 | -42.5% |
| Interest Expense | -26,461 | -31,219 | +15.2% |
| Other Non-Operating Income (Expense) | -2,392 | -711 | -236.4% |
| Non-Operating Income (Expense) | -13,783 | -5,700 | -141.8% |
| Income Before Taxes | 170,937 | 149,993 | +14.0% |
| Income Tax Expense (Benefit) | 42,448 | 29,636 | +43.2% |
| Net Income | 128,489 | 120,357 | +6.8% |
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| Retained Earnings | 128,489 | 120,357 | +6.8% |
| EPS (Basic) | 2.17 | 2.07 | +4.8% |
| EPS (Diluted) | 2.13 | 2.03 | +4.9% |
| Wtd Avg Shares (Basic) | 59,158 | 58,218 | +1.6% |
| Wtd Avg Shares (Diluted) | 60,460 | 59,365 | +1.8% |
| Research & Development (FY) | — | — | — |
Show Business Segments breakouts |
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| Cardiovascular | 94,157 | 83,812 | +12.3% |
| Endoscopy | 3,195 | 3,654 | -12.6% |
| Other Comprehensive Income (FY) | — | — | — |
Show Equity Components breakouts |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent | -977 | 1,103 | -188.6% |
| Accumulated Other Comprehensive Income | 15,765 | -8,067 | +295.4% |
| Accumulated Translation Adjustment | 16,742 | -9,170 | +282.6% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 446,404 | 376,715 | +18.5% |
| Accounts Receivable | 203,710 | 190,243 | +7.1% |
| Nontrade Receivables Current | 17,773 | 16,588 | +7.1% |
| Inventory | 333,705 | 306,063 | +9.0% |
| Prepaid Expenses & Other Current Assets | 31,493 | 28,544 | +10.3% |
| Prepaid Taxes | 4,941 | 3,286 | +50.4% |
| Income Taxes Receivable | 2,128 | 2,335 | -8.9% |
| Total Current Assets | 1,040,154 | 923,774 | +12.6% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 428,401 | 386,165 | +10.9% |
Show Geography breakouts |
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| IE | 49,492 | 45,325 | +9.2% |
| Other foreign countries | 78,316 | 69,106 | +13.3% |
| US | 300,593 | 271,734 | +10.6% |
| Intangible Assets (Q) | — | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Lists | 23,679 | 21,710 | +9.1% |
| Developed Technology Rights | 465,940 | 431,766 | +7.9% |
| Distribution Rights | 181 | 256 | -29.3% |
| Licensing Agreements | 4,372 | 2,432 | +79.8% |
| Other Intangible Assets | 71,714 | 66,499 | +7.8% |
| Patents | 19,219 | 18,665 | +3.0% |
| Trademarks | 24,263 | 23,436 | +3.5% |
| Goodwill | 506,837 | 463,511 | +9.3% |
Show Business Segments breakouts |
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| Cardiovascular | 486,934 | 446,514 | +9.1% |
| Endoscopy | 19,903 | 16,997 | +17.1% |
| Deferred Tax Assets | 7,049 | 16,044 | -56.1% |
| Operating Lease Right-of-Use Assets | 87,600 | 65,508 | +33.7% |
| Other Non-Current Assets | 78,227 | 65,336 | +19.7% |
| Intangible Assets Net Goodwill And Other Assets Noncurrent | 1,217,367 | 1,108,664 | +9.8% |
| Total Assets | 2,685,922 | 2,418,603 | +11.1% |
| Other Assets | |||
| Property Plant And Equipment Gross | 804,846 | 737,770 | +9.1% |
| Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | -376,445 | -351,605 | -7.1% |
| Current Liabilities | |||
| Accounts Payable Trade Current | 60,551 | 68,502 | -11.6% |
| Accrued Liabilities | 159,486 | 134,077 | +19.0% |
| Operating Lease Liability Current | 10,876 | 10,331 | +5.3% |
| Accrued Income Taxes Current | 8,851 | 3,492 | +153.5% |
| Total Current Liabilities | 239,764 | 216,402 | +10.8% |
| Non-Current Liabilities | |||
| Long-Term Debt | 734,038 | 729,551 | +0.6% |
| Deferred Tax Liabilities | 19,665 | 240 | +8093.8% |
| Liability For Uncertain Tax Positions Noncurrent | 2,248 | 2,118 | +6.1% |
| Deferred Compensation Liability Classified Noncurrent | 17,542 | 19,197 | -8.6% |
| Contract With Customer Liability Noncurrent | 1,398 | 1,502 | -6.9% |
| Operating Lease Liabilities | 76,658 | 54,783 | +39.9% |
| Other Non-Current Liabilities | 10,306 | 15,451 | -33.3% |
| Total Liabilities | 1,101,619 | 1,039,244 | +6.0% |
| Long-Term Debt | 734,038 | 729,551 | +0.6% |
| Stockholders' Equity | |||
| Common Stock | 763,909 | 703,219 | +8.6% |
| Retained Earnings | 824,030 | 695,541 | +18.5% |
| Accumulated Other Comprehensive Income | -3,636 | -19,401 | +81.3% |
| Total Stockholders' Equity | 1,584,303 | 1,379,359 | +14.9% |
Show Equity Components breakouts |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent | 1,788 | 2,765 | -35.3% |
| Accumulated Other Comprehensive Income | -3,636 | -19,401 | +81.3% |
| Accumulated Translation Adjustment | -5,424 | -22,166 | +75.5% |
| Common Stock | 763,909 | 703,219 | +8.6% |
| Retained Earnings | 824,030 | 695,541 | +18.5% |
| Total Liabilities & Equity | 2,685,922 | 2,418,603 | +11.1% |
| Land | 30,465 | 25,846 | +17.9% |
| Buildings And Improvements Gross | 200,046 | 192,296 | +4.0% |
| Machinery And Equipment Gross | 365,277 | 340,864 | +7.2% |
| Furniture And Fixtures Gross | 60,883 | 61,321 | -0.7% |
| Leasehold Improvements Gross | 65,236 | 58,770 | +11.0% |
| Construction In Progress Gross | 82,939 | 58,673 | +41.4% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 123,168 | 102,709 | +19.9% |
Show Business Segments breakouts |
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| Cardiovascular | 113,785 | 97,749 | +16.4% |
| Endoscopy | 9,383 | 4,960 | +89.2% |
| Gain Loss On Sale Of Business | -249 | — | — |
| Gain Loss On Disposition Of Assets | 2,302 | 1,490 | +54.5% |
| Goodwill And Intangible Asset Impairment | 313 | 456 | -31.4% |
| Operating Lease Right Of Use Asset Amortization Expense | 11,481 | 12,023 | -4.5% |
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 | 984 | 443 | +122.1% |
| Contract With Customer Liability Revenue Recognized | -103 | -103 | 0.0% |
| Amortization And Write Off Of Debt Issuance Costs | 5,656 | 6,769 | -16.4% |
| Deferred Income Taxes | 5,214 | -14,873 | +135.1% |
| Stock-Based Compensation | 43,460 | 28,473 | +52.6% |
| Change in Accounts Receivable | -7,341 | -13,686 | +46.4% |
| Increase Decrease In Other Receivables | 4,368 | -6,482 | +167.4% |
| Change in Inventory | -21,602 | -2,287 | -844.6% |
| Change in Prepaid & Other Assets | -2,520 | -4,295 | +41.3% |
| Increase Decrease In Prepaid Taxes | -1,612 | 709 | -327.4% |
| Increase Decrease In Income Taxes Receivable | 246 | -1,536 | +116.0% |
| Increase Decrease In Other Operating Assets | -1,697 | -6,066 | +72.0% |
| Increase Decrease In Accounts Payable Trade | 1,011 | -2,314 | +143.7% |
| Increase Decrease In Accrued Liabilities | 14,262 | 9,715 | +46.8% |
| Increase Decrease In Accrued Income Taxes Payable | 5,230 | -1,785 | +393.0% |
| Increase Decrease Liability For Uncertain Tax Positions | 80 | 206 | -61.2% |
| Increase Decrease In Deferred Compensation | -1,655 | 2,030 | -181.5% |
| Increase Decrease In Operating Lease Liability | -11,167 | -12,183 | +8.3% |
| Increase Decrease In Other Operating Liabilities | -947 | 1,029 | -192.0% |
| Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities | 168,882 | 100,442 | +68.1% |
| Net Cash from Operations | 297,371 | 220,799 | +34.7% |
| Investing Activities | |||
| Capital Expenditures | -81,716 | -35,140 | -132.5% |
| Payments To Acquire Intangible Assets | -3,120 | -2,903 | -7.5% |
| Proceeds From Sale Of Property Plant And Equipment And Divestiture Of Businesses | 303 | 5 | +5960.0% |
| Payments To Acquire Notes Receivable | -18,084 | -10,433 | -73.3% |
| Payments To Acquire Businesses Net Of Cash Acquired | -144,769 | -320,182 | +54.8% |
| Net Cash from Investing | -247,386 | -368,653 | +32.9% |
| Acquisition Of Developed Technology In Accrued Expenses | 3,886 | 4,956 | -21.6% |
| Stock Surrendered During Period Value Stock Options Exercised | -10,863 | — | — |
Show Equity Components breakouts |
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| Common Stock | -10,863 | — | — |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 32,684 | 9,947 | +228.6% |
| Financing Activities | |||
| Proceeds From Issuance Of Common Stock | 28,213 | 40,908 | -31.0% |
| Payment For Contingent Consideration Liability Financing Activities | -2,685 | -261 | -928.7% |
| Payments Related To Tax Withholding For Exchange Of Common Stock | -9,529 | -1,592 | -498.6% |
| Net Cash from Financing | 15,999 | -60,008 | +126.7% |
| Supplemental | |||
| Interest Paid | 20,991 | 23,244 | -9.7% |
| Income Taxes Paid | 31,392 | 45,047 | -30.3% |
| Unpaid Capital Expenditures | 3,136 | 13,244 | -76.3% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | 3,798 | -2,515 | +251.0% |
| Net Change in Cash | 69,782 | -210,377 | +133.2% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 448,549 | 378,767 | +18.4% |
| Restricted Cash And Cash Equivalents At Carrying Value | 2,145 | 2,052 | +4.5% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.