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NASDAQ · Health careMerit Medical Systems Inc (MMSI)
Merit Medical Systems Inc brought in $1.6B of revenue over the twelve months to September 30, 2026, up 9.1% from a year earlier. Net income was $160.1M, a net margin of 9.9%. Operating cash flow minus capital spending left $215.7M of free cash flow in fiscal 2025. At September 30, 2026 it held $503.6M in cash against $737.4M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 29, 2026.
Key facts about Merit Medical Systems Inc
- Net worth
- Merit Medical Systems Inc has a market value (market cap) of $5.2B at the latest share price, and shareholders' equity of $1.7B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $1.5B (+11.8% year on year), with net income of $128.5M. Over the 12 months to September 30, 2026: revenue $1.6B, net income $160.1M.
- Cash flow
- In fiscal 2025 operations brought in $297.4M of cash; after $81.7M of capital spending, free cash flow was $215.7M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 29, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Merit Medical Systems Inc's next report is expected around January 7, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Merit Medical Systems Inc does
Merit Medical Systems Inc is registered with the SEC under industry code SIC 3841 (Surgical & Medical Instruments & Apparatus). Its shares trade on NASDAQ under the ticker MMSI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $1.5B | $128.5M | $2.13 | $215.7M |
| 2024 | $1.4B | $120.4M | $2.03 | $185.7M |
| 2023 | $1.3B | $94.4M | $1.62 | $110.9M |
| 2022 | $1.2B | $74.5M | $1.29 | $69.3M |
| 2021 | $1.1B | $48.5M | $0.84 | $119.3M |
| 2020 | $963.9M | -$9.8M | -$0.18 | $119.3M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MMSI ranks in Health care
Latest SEC filings
What Merit Medical Systems Inc has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 29, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 8.4% to $416.2M versus the same quarter last year; diluted EPS $0.70 versus $0.46.
- October 29, 2026
- August 20, 2026
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 9.5% to $418.8M versus the same quarter last year; diluted EPS $0.65 versus $0.54.
- July 30, 2026
- June 29, 2026
- June 26, 2026
- May 29, 2026
- May 19, 2026
- May 15, 2026
What is MMSI worth? A DCF from its reported cash flow
Insider trades
What the people running Merit Medical Systems Inc did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $678.4K worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 4, 2026 | Lewis SheriEVP of Global Operations | Received as pay | 8,371 | - |
| August 24, 2026 | Voigt Michel J.CHIEF HUMAN RESOURCES OFFICER | Gave as a gift | 650 | - |
| August 24, 2026 | Peterson Neil W.CHIEF OPERATING OFFICER | Sold | 7,500 | $678.4K |
| August 4, 2026 | Peterson Neil W.CHIEF OPERATING OFFICER | Sold | 21,449 | $1.8M |
| June 15, 2026 | Voigt Michel J.CHIEF HUMAN RESOURCES OFFICER | Gave as a gift | 65 | - |
| June 5, 2026 | Lloyd Brian G.CHIEF LEGAL OFFICER, SECRETARY | Gave as a gift | 2,000 | - |
| May 20, 2026 | Gunderson Thomas J.Director | Exercised options | 13,750 | $717.3K |
| May 20, 2026 | Gunderson Thomas J.Director | Exercised options | 7,500 | $391.3K |
Who owns MMSI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 6.01% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.23% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 404 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 9,464,542 | +630,227 |
| Vanguard Portfolio Management LLC | 3,473,833 | -49,255 |
| Vanguard Capital Management LLC | 2,590,454 | -65,709 |
| State Street Corp | 2,474,512 | +113,530 |
| Conestoga Capital Advisors, LLC | 1,979,790 | -187,723 |
| Geode Capital Management, LLC | 1,625,950 | +117,576 |
| Fuller & Thaler Asset Management, Inc. | 1,613,002 | -502,524 |
| Dimensional Fund Advisors LP | 1,458,823 | +221,525 |
| Nomura Asset Management International Inc. | 1,279,152 | +80,883 |
| Congress Asset Management Co | 1,184,337 | +155,088 |
| William Blair Investment Management, LLC | 1,137,790 | +360,296 |
| Greenhouse Funds LLLP | 1,072,098 | -50,349 |
| Citigroup Inc | 1,022,497 | -40,218 |
| Fmr LLC | 1,012,810 | +7,872 |
| Westwood Holdings Group Inc | 1,011,377 | +64,901 |
| Morgan Stanley | 1,006,891 | -254,068 |
| Neuberger Berman Group LLC | 1,002,168 | +996,617 |
| Maverick Capital Ltd | 978,617 | +264,536 |
| Citadel Advisors LLC | 909,863 | -52,921 |
| Royal Bank of Canada | 826,944 | -94,386 |
Insiders
17 insiders reported holding 1,473,173 shares in total, about $129.1M at the last price.
| Holder | Shares |
|---|---|
| Lampropoulos Fred P.Executive Chairman, Director | 1,019,955 |
| Lloyd Brian G.CHIEF LEGAL OFFICER, SECRETARY | 62,1322,000 held indirectly |
| Gunderson Thomas J.Director | 60,741 |
| Parra Raul Jr.CFO AND TREASURER | 58,843 |
| Aronson Martha GoldbergPresident and CEO, Director | 49,792 |
| Voigt Michel J.CHIEF HUMAN RESOURCES OFFICER | 47,6772,265 held indirectly |
| Millner F. Ann Ed.D.Director | 38,000 |
| Smith Christian AdamChief Commercial Officer | 32,5542,220 held indirectly |
| Carpenter Lonny J.Director | 20,824 |
| Peterson Neil W.CHIEF OPERATING OFFICER | 18,051 |
Questions about MMSI
What does Merit Medical Systems Inc do?
Merit Medical Systems Inc is a company in the Health care sector, listed on NASDAQ as MMSI. Its shares trade on NASDAQ under the ticker MMSI.
What is Merit Medical Systems Inc's net worth?
Merit Medical Systems Inc has a market value (market cap) of $5.2B at the latest share price, and shareholders' equity of $1.7B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Merit Medical Systems Inc profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $160.1M on revenue of $1.6B, a net margin of 9.9%.
How much revenue does Merit Medical Systems Inc make?
Over the twelve months to September 30, 2026 Merit Medical Systems Inc reported revenue of $1.6B. That is 9.1% more than a year earlier.
When did Merit Medical Systems Inc last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 29, 2026. It covers the period to September 30, 2026.
When is Merit Medical Systems Inc's next earnings report?
Merit Medical Systems Inc's next report is expected around January 7, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Merit Medical Systems Inc tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.