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 $80.17 per share. The share price was $87.50 on September 25, 2026, 9% 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% | $48.06 | -45% |
| Base | 9.5% | 9.0% | $80.17 | -8% |
| Bull | 14.5% | 8.0% | $144.19 | +65% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $104.33 | $111.76 | $120.84 | $132.19 | $146.79 |
| 8.0% | $86.26 | $91.08 | $96.77 | $103.61 | $111.96 |
| 9.0% | $73.08 | $76.37 | $80.17 | $84.61 | $89.85 |
| 10.0% | $63.05 | $65.40 | $68.05 | $71.09 | $74.59 |
| 11.0% | $55.18 | $56.90 | $58.82 | $60.98 | $63.43 |
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