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Merit Medical Systems Inc (MMSI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · MEDICAL INSTRUMENTS & SUPPLIES · DATA UPDATED 2026-08-16

Merit Medical Systems Inc (MMSI) operates in the MEDICAL INSTRUMENTS & SUPPLIES industry and is headquartered in South Jordan, United States with about 7,500 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, MMSI reported $1.5B in revenue and $128M in net income.

Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States, China, Japan, Germany, France, the United Kingdom, and internationally. It operates through two segments, Cardiovascular and Endoscopy.

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MMSI Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$1.6B	$1.5B	$1.4B	$1.3B	$1.2B	$1.1B	$964M	$995M	$883M	$728M	$604M	$542M	$510M	$449M	$394M	$359M	$297M	$257M	$227M	$208M	$191M
Gross Profit	$782M	$737M	$643M	$584M	$519M	$485M	$401M	$432M	$395M	$326M	$265M	$236M	$225M	$194M	$182M	$165M	$128M	$109M	$93M	$80M	$73M
Gross Margin %	49.5%	48.6%	47.4%	46.4%	45.1%	45.2%	41.6%	43.5%	44.7%	44.8%	43.9%	43.5%	44.2%	43.3%	46.2%	46.0%	43.3%	42.3%	41.1%	38.4%	38.3%
Operating Income (EBIT)	$201M	$184M	$156M	$124M	$88M	$61M	($2M)	$15M	$59M	$33M	$35M	$38M	$40M	$28M	$30M	$33M	$17M	$33M	$31M	$23M	$19M
Operating Margin %	12.8%	12.2%	11.5%	9.9%	7.6%	5.7%	-0.2%	1.6%	6.6%	4.5%	5.8%	6.9%	7.9%	6.2%	7.5%	9.2%	5.8%	12.8%	13.6%	11.1%	10.0%
Net Income	$146M	$128M	$120M	$94M	$75M	$48M	($10M)	$5M	$42M	$28M	$20M	$24M	$23M	$17M	$20M	$23M	$12M	$23M	$21M	$16M	$12M
Net Margin %	9.2%	8.5%	8.9%	7.5%	6.5%	4.5%	-1.0%	0.5%	4.8%	3.8%	3.3%	4.4%	4.5%	3.7%	5.0%	6.4%	4.2%	8.8%	9.1%	7.5%	6.5%
EBITDA	$362M	$332M	$274M	$229M	$181M	$155M	$104M	$119M	$129M	$97M	$79M	$75M	$76M	$60M	$51M	$53M	$32M	$45M	$42M	$32M	$19M
Earnings Per Share (EPS)	$2.43	$2.13	$2.03	$1.62	$1.29	$0.84	$-0.18	$0.10	$0.78	$0.55	$0.45	$0.53	$0.53	$0.39	$0.46	$0.58	$0.35	$0.63	$0.58	$0.44	$0.35
Shares Outstanding (M)	60M	60M	59M	58M	58M	57M	55M	56M	54M	50M	45M	45M	43M	43M	43M	40M	36M	36M	36M	35M	35M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMSI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$419M	$382M	$394M	$384M	$382M	$354M	$355M	$340M
Gross Profit	$215M	$185M	$195M	$187M	$184M	$172M	$173M	$158M
Gross Margin %	51.4%	48.4%	49.6%	48.5%	48.2%	48.4%	48.7%	46.4%
Operating Income (EBIT)	$61M	$44M	$54M	$43M	$47M	$51M	$37M	$37M
Operating Margin %	14.5%	11.5%	13.7%	11.1%	12.2%	14.3%	10.3%	11.0%
Net Income	$39M	$41M	$38M	$28M	$33M	$30M	$28M	$28M
Net Margin %	9.3%	10.7%	9.6%	7.2%	8.5%	8.5%	7.9%	8.4%
EBITDA	$97M	$93M	$92M	$80M	$84M	$77M	$73M	$74M
Earnings Per Share (EPS)	$0.65	$0.68	$0.63	$0.46	$0.54	$0.49	$0.46	$0.48
Shares Outstanding (M)	60M	60M	60M	60M	61M	61M	61M	60M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMSI Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$283M	$297M	$221M	$145M	$114M	$147M	$165M	$78M	$87M	$63M	$54M	$69M	$53M	$51M	$47M	$34M	$35M	$30M	$28M	$32M	$19M
Capital Expenditures (CapEx)	$80M	$85M	$38M	$37M	$45M	$28M	$49M	$81M	$66M	$41M	$35M	$53M	$36M	$61M	$66M	$61M	$25M	$20M	$15M	$17M	$15M
Free Cash Flow (FCF)	$204M	$213M	$183M	$108M	$69M	$119M	$116M	($4M)	$20M	$22M	$19M	$17M	$17M	($10M)	($19M)	($27M)	$10M	$10M	$13M	$15M	$4M
FCF Margin %	12.9%	14.0%	13.5%	8.6%	6.0%	11.1%	12.0%	-0.4%	2.3%	3.0%	3.1%	3.0%	3.4%	-2.2%	-4.9%	-7.6%	3.4%	4.0%	5.8%	7.4%	2.1%
Dividends Paid	—	—	—	—	$2M	$1M	$1M	—	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$105M	—	$19M	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMSI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$69M	$41M	$99M	$75M	$83M	$41M	$69M	$47M
Capital Expenditures (CapEx)	$18M	$17M	$22M	$23M	$22M	$22M	$4M	$10M
Free Cash Flow (FCF)	$51M	$24M	$77M	$52M	$62M	$19M	$65M	$37M
FCF Margin %	12.2%	6.3%	19.5%	13.4%	16.2%	5.4%	18.2%	11.0%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMSI Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$2.9B	$2.7B	$2.4B	$2.3B	$1.7B	$1.6B	$1.7B	$1.8B	$1.6B	$1.1B	$943M	$779M	$747M	$728M	$705M	$447M	$370M	$272M	$232M	$200M	$183M
Cash & Cash Equivalents	$449M	$449M	$377M	$587M	$58M	$68M	$57M	$44M	$67M	$32M	$19M	$4M	$7M	$7M	$10M	$10M	$4M	$6M	$34M	$18M	$10M
Total Liabilities	$1.2B	$1.1B	$1.0B	$1.1B	$520M	$608M	$706M	$807M	$687M	$435M	$445M	$313M	$312M	$323M	$324M	$90M	$134M	$53M	$37M	$36M	$31M
Total Debt (Short + Long-Term)	$747M	$745M	$740M	$835M	$220M	$264M	$377M	$463M	$395M	$278M	$324M	$208M	$224M	$249M	$238M	$31M	$82M	$7M	$0M	$0M	$0M
Total Shareholders' Equity	$1.7B	$1.6B	$1.4B	$1.2B	$1.1B	$1.0B	$959M	$950M	$933M	$676M	$498M	$466M	$435M	$406M	$382M	$357M	$236M	$219M	$194M	$164M	$151M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MMSI viewer.

Other Companies in MEDICAL INSTRUMENTS & SUPPLIES

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STVN · Stevanato Group SpA — $6 billion
PLSE · Pulse Biosciences Inc — $4 billion
ICUI · ICU Medical Inc — $4 billion
NVST · Envista Holdings Corp — $4 billion
ATRC · AtriCure Inc — $3 billion

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