What is Merit Medical Systems Inc worth?
With the base-case assumptions below, a discounted cash flow model on Merit Medical Systems Inc's reported free cash flow gives $81.06 per share. The share price was $87.67 on November 10, 2026, 8% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 4.5% | 10.0% | $48.95 | -44% |
| Base | 9.5% | 9.0% | $81.06 | -8% |
| Bull | 14.5% | 8.0% | $145.07 | +65% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $105.21 | $112.65 | $121.73 | $133.08 | $147.68 |
| 8.0% | $87.15 | $91.97 | $97.66 | $104.50 | $112.85 |
| 9.0% | $73.97 | $77.26 | $81.06 | $85.50 | $90.74 |
| 10.0% | $63.94 | $66.28 | $68.94 | $71.97 | $75.48 |
| 11.0% | $56.07 | $57.79 | $59.71 | $61.87 | $64.32 |
Where the presets come from
Base: years 1 to 5 grow at Merit Medical Systems Inc's revenue growth rate over the last 5 fiscal years (9.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions