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Merit Medical Systems

DB:MM3
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MM3
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Healthcare
Company description

Merit Medical Systems, Inc. manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The last earnings update was 54 days ago. More info.


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MM3 Share Price and Events
7 Day Returns
-4.6%
DB:MM3
3.1%
DE Medical Equipment
1.5%
DE Market
1 Year Returns
13.4%
DB:MM3
17.1%
DE Medical Equipment
-5.8%
DE Market
MM3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Merit Medical Systems (MM3) -4.6% 10.3% -2.9% 13.4% 205.7% 360.7%
DE Medical Equipment 3.1% 5.1% 6.8% 17.1% 109.3% 235.7%
DE Market 1.5% 1.3% 2.2% -5.8% 17.6% 8.7%
1 Year Return vs Industry and Market
  • MM3 underperformed the Medical Equipment industry which returned 17.1% over the past year.
  • MM3 outperformed the Market in Germany which returned -5.8% over the past year.
Price Volatility
MM3
Industry
5yr Volatility vs Market

Value

 Is Merit Medical Systems undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Merit Medical Systems to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Merit Medical Systems.

DB:MM3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MM3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 21%) (14.47%))
0.966
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.966 * 5.96%)
5.98%

Discounted Cash Flow Calculation for DB:MM3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Merit Medical Systems is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MM3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.98%)
2019 66.95 Analyst x2 63.17
2020 102.64 Analyst x2 91.38
2021 110.33 Analyst x1 92.68
2022 115.99 Est @ 5.13% 91.93
2023 120.23 Est @ 3.66% 89.91
2024 123.39 Est @ 2.63% 87.06
2025 125.74 Est @ 1.91% 83.72
2026 127.50 Est @ 1.4% 80.10
2027 128.84 Est @ 1.05% 76.37
2028 129.88 Est @ 0.8% 72.64
Present value of next 10 years cash flows $828.95
DB:MM3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $129.88 × (1 + 0.23%) ÷ (5.98% – 0.23%)
$2,261.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,261.81 ÷ (1 + 5.98%)10
$1,264.96
DB:MM3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $828.95 + $1,264.96
$2,093.90
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,093.90 / 55.00
$38.07
DB:MM3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MM3 represents 0.87392x of NasdaqGS:MMSI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87392x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 38.07 x 0.87392
€33.27
Value per share (EUR) From above. €33.27
Current discount Discount to share price of €51.43
= -1 x (€51.43 - €33.27) / €33.27
-54.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Merit Medical Systems is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Merit Medical Systems's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Merit Medical Systems's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MM3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.80
NasdaqGS:MMSI Share Price ** NasdaqGS (2019-06-25) in USD $58.85
Germany Medical Equipment Industry PE Ratio Median Figure of 10 Publicly-Listed Medical Equipment Companies 32.05x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.8x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Merit Medical Systems.

DB:MM3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:MMSI Share Price ÷ EPS (both in USD)

= 58.85 ÷ 0.80

73.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Merit Medical Systems is overvalued based on earnings compared to the DE Medical Equipment industry average.
  • Merit Medical Systems is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Merit Medical Systems's expected growth come at a high price?
Raw Data
DB:MM3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 73.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
33.1%per year
Germany Medical Equipment Industry PEG Ratio Median Figure of 7 Publicly-Listed Medical Equipment Companies 2.67x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:MM3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 73.22x ÷ 33.1%

2.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Merit Medical Systems is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Merit Medical Systems's assets?
Raw Data
DB:MM3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $17.09
NasdaqGS:MMSI Share Price * NasdaqGS (2019-06-25) in USD $58.85
Germany Medical Equipment Industry PB Ratio Median Figure of 13 Publicly-Listed Medical Equipment Companies 4.33x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:MM3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:MMSI Share Price ÷ Book Value per Share (both in USD)

= 58.85 ÷ 17.09

3.44x

* Primary Listing of Merit Medical Systems.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Merit Medical Systems is good value based on assets compared to the DE Medical Equipment industry average.
X
Value checks
We assess Merit Medical Systems's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check)
  5. Merit Medical Systems has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Merit Medical Systems expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
33.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Merit Medical Systems expected to grow at an attractive rate?
  • Merit Medical Systems's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Merit Medical Systems's earnings growth is expected to exceed the Germany market average.
  • Merit Medical Systems's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MM3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MM3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 33.1%
DB:MM3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 7.7%
Germany Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MM3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MM3 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,350 1
2022-12-31 1,267 1
2021-12-31 1,209 111 4
2020-12-31 1,114 173 93 9
2019-12-31 1,022 130 63 9
DB:MM3 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 918 92 43
2018-12-31 883 87 42
2018-09-30 840 82 40
2018-06-30 798 63 19
2018-03-31 760 55 18
2017-12-31 728 63 28
2017-09-30 695 61 28
2017-06-30 672 63 33
2017-03-31 637 57 31
2016-12-31 604 54 20
2016-09-30 580 49 19
2016-06-30 559 55 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Merit Medical Systems's earnings are expected to grow significantly at over 20% yearly.
  • Merit Medical Systems's revenue is expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MM3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Merit Medical Systems Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MM3 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.74 2.22 1.41 3.00
2020-12-31 1.57 1.97 1.15 7.00
2019-12-31 1.06 1.21 0.78 6.00
DB:MM3 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.80
2018-12-31 0.80
2018-09-30 0.78
2018-06-30 0.39
2018-03-31 0.36
2017-12-31 0.56
2017-09-30 0.60
2017-06-30 0.71
2017-03-31 0.69
2016-12-31 0.45
2016-09-30 0.43
2016-06-30 0.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Merit Medical Systems will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Merit Medical Systems's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Merit Medical Systems has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Merit Medical Systems performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Merit Medical Systems's growth in the last year to its industry (Medical Equipment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Merit Medical Systems's year on year earnings growth rate has been positive over the past 5 years.
  • Merit Medical Systems's 1-year earnings growth exceeds its 5-year average (138.7% vs 11.4%)
  • Merit Medical Systems's earnings growth has exceeded the DE Medical Equipment industry average in the past year (138.7% vs 3.2%).
Earnings and Revenue History
Merit Medical Systems's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Merit Medical Systems Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MM3 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 918.07 42.94 277.98 61.25
2018-12-31 882.75 42.02 262.82 59.53
2018-09-30 840.40 39.63 246.93 56.89
2018-06-30 798.08 19.45 236.26 55.20
2018-03-31 759.82 17.99 215.28 53.20
2017-12-31 727.85 27.52 209.93 51.40
2017-09-30 694.67 28.22 200.94 50.47
2017-06-30 672.31 32.77 199.42 49.05
2017-03-31 636.83 30.57 185.67 47.17
2016-12-31 603.84 20.12 182.80 45.23
2016-09-30 580.23 19.02 179.50 44.86
2016-06-30 559.34 22.87 165.50 43.95
2016-03-31 546.35 22.98 161.17 41.73
2015-12-31 542.15 23.80 156.35 40.81
2015-09-30 536.53 26.06 151.62 38.91
2015-06-30 529.25 29.01 148.75 37.09
2015-03-31 520.03 25.33 148.02 37.52
2014-12-31 509.69 22.97 147.89 36.63
2014-09-30 496.93 20.84 142.92 35.93
2014-06-30 483.33 18.69 137.94 34.55
2014-03-31 464.34 18.72 131.84 33.97
2013-12-31 449.05 16.57 126.84 33.89
2013-09-30 431.26 10.67 125.77 32.73
2013-06-30 411.96 12.29 123.30 32.52
2013-03-31 402.62 14.63 121.03 30.05
2012-12-31 394.29 19.71 119.41 27.80
2012-09-30 383.15 24.04 116.58 26.22
2012-06-30 377.72 21.38 113.41 24.52

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Merit Medical Systems has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Merit Medical Systems used its assets less efficiently than the DE Medical Equipment industry average last year based on Return on Assets.
  • Merit Medical Systems's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Merit Medical Systems's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Merit Medical Systems has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Merit Medical Systems's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Merit Medical Systems's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Merit Medical Systems is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Merit Medical Systems's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Merit Medical Systems's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Merit Medical Systems Company Filings, last reported 2 months ago.

DB:MM3 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 940.11 384.19 49.52
2018-12-31 932.78 395.15 67.36
2018-09-30 923.21 208.87 51.96
2018-06-30 699.25 413.57 43.51
2018-03-31 688.51 386.53 34.17
2017-12-31 676.33 278.47 32.34
2017-09-30 666.82 277.94 23.44
2017-06-30 666.48 241.91 37.85
2017-03-31 652.34 237.41 26.80
2016-12-31 498.19 324.37 19.17
2016-09-30 485.94 328.74 17.32
2016-06-30 479.99 232.60 10.49
2016-03-31 472.32 229.13 5.16
2015-12-31 466.10 207.59 4.18
2015-09-30 458.56 210.22 5.86
2015-06-30 452.80 209.77 12.10
2015-03-31 442.70 212.88 9.91
2014-12-31 435.26 224.49 7.36
2014-09-30 424.25 240.48 6.44
2014-06-30 415.90 248.38 9.40
2014-03-31 409.63 254.44 12.59
2013-12-31 405.71 248.85 7.46
2013-09-30 395.63 251.16 9.12
2013-06-30 389.55 256.83 13.14
2013-03-31 383.33 254.25 9.02
2012-12-31 381.58 237.57 9.72
2012-09-30 381.03 64.50 9.47
2012-06-30 370.55 56.62 9.92
  • Merit Medical Systems's level of debt (40.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (62.1% vs 40.9% today).
  • Debt is well covered by operating cash flow (24%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.7x coverage).
X
Financial health checks
We assess Merit Medical Systems's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Merit Medical Systems has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Merit Medical Systems's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Merit Medical Systems dividends. Estimated to be 0% next year.
If you bought €2,000 of Merit Medical Systems shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Merit Medical Systems's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Merit Medical Systems's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MM3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Germany Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MM3 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Merit Medical Systems has not reported any payouts.
  • Unable to verify if Merit Medical Systems's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Merit Medical Systems's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Merit Medical Systems has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Merit Medical Systems's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Merit Medical Systems's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Merit Medical Systems afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Merit Medical Systems has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Merit Medical Systems's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Fred Lampropoulos
COMPENSATION $3,680,580
AGE 68
TENURE AS CEO 31.9 years
CEO Bio

Mr. Fred P. Lampropoulos has been the President of BioSphere Medical, Inc. since September 2010. Mr. Lampropoulos serves as the Chairman and Chief Executive Officer of Merit Medical Systems Inc. He has been the Chairman, Chief Executive Officer and President of Merit Medical Systems, Inc. since July 1987. He served as Chairman of BioUtah until July 2014. He was Chair of the Board and President of Utah Medical Products, Inc. (medical device manufacturer), 1983 to 1987. He has been a Director of Vysera Biomedical Limited since October 2009. He is a recipient of numerous awards, including 2003 Utah Governor’s Medal for Science and Technology.

CEO Compensation
  • Fred's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Fred's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Merit Medical Systems management team in years:

4.7
Average Tenure
52
Average Age
  • The tenure for the Merit Medical Systems management team is about average.
Management Team

Fred Lampropoulos

TITLE
Chairman
COMPENSATION
$4M
AGE
68
TENURE
31.9 yrs

Raul Parra

TITLE
CFO & Treasurer
COMPENSATION
$1M
AGE
40
TENURE
1.1 yrs

Ronald Frost

TITLE
Chief Operating Officer
COMPENSATION
$1M
AGE
56
TENURE
5.4 yrs

Brian Lloyd

TITLE
Chief Legal Officer & Corporate Secretary
COMPENSATION
$1M
AGE
57
TENURE
3.2 yrs

Joe Wright

TITLE
President of International Division
COMPENSATION
$1M
AGE
48
TENURE
3.9 yrs

Jason Treft

TITLE
Chief Technology Officer

Joe Pierce

TITLE
Chief Information Officer
TENURE
13.4 yrs

Anne-Marie Wright

TITLE
Vice President of Corporate Communications

Louise Bott

TITLE
Vice President of Global Human Resources
TENURE
12.4 yrs

Justin Lampropoulos

TITLE
Executive Vice President of Commercial
COMPENSATION
$630K
AGE
35
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Merit Medical Systems board of directors in years:

3.9
Average Tenure
67
Average Age
  • The tenure for the Merit Medical Systems board of directors is about average.
Board of Directors

Scott Anderson

TITLE
Independent Director
COMPENSATION
$524K
AGE
71
TENURE
7.6 yrs

Fred Lampropoulos

TITLE
Chairman
COMPENSATION
$4M
AGE
68
TENURE
31.9 yrs

Nolan Karras

TITLE
Lead Independent Director
COMPENSATION
$567K
AGE
73
TENURE
2.1 yrs

F. Millner

TITLE
Independent Director
COMPENSATION
$524K
AGE
66
TENURE
3.9 yrs

Thomas Gunderson

TITLE
Independent Director
COMPENSATION
$524K
AGE
67
TENURE
2.1 yrs

Kent Stanger

TITLE
Director
COMPENSATION
$517K
AGE
63
TENURE
31.8 yrs

Franklin Miller

TITLE
Independent Director
COMPENSATION
$517K
AGE
77
TENURE
14.1 yrs

David Liu

TITLE
Independent Director
COMPENSATION
$517K
AGE
44
TENURE
2.9 yrs

Jill Anderson

TITLE
Director
COMPENSATION
$28K
AGE
58
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • Merit Medical Systems individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
02. Apr 19 Sell Kent Stanger Individual 29. Mar 19 29. Mar 19 -12,228 €54.39 €-665,138
29. Mar 19 Sell Kent Stanger Individual 26. Mar 19 28. Mar 19 -5,000 €53.94 €-268,800
X
Management checks
We assess Merit Medical Systems's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Merit Medical Systems has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Merit Medical Systems, Inc. manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. The company operates through Cardiovascular and Endoscopy segments. It provides peripheral intervention products, including access, angiography, intervention, and drainage and biopsy for diagnosis and treatment of diseases in peripheral vessels and organs; and cardiac intervention products, such as access, angiography, hemostasis, intervention, and electrophysiology and cardiac rhythm management products to treat various heart conditions. The company also offers cardiovascular and critical care products to treat patients with life-threatening diseases, protect healthcare providers from exposure to bloodborne pathogens, and provide medical devices. In addition, it provides interventional oncology and spine products comprising delivery system, embolotherapy, spine ablation, and vertebral compression fracture products to treat metastatic spinal tumors, liver cancer, uterine fibroids, benign prostatic hyperplasia, vertebral compression fractures, and arteriovenous malformations and hemostatic embolization, as well as breast cancer localization and guidance products for the treatment of breast cancer. Further, the company offers non-vascular stents to treat pulmonary and gastrointestinal diseases; dilation balloons to endoscopically dilate strictures; and kits and accessories for endoscopy and bronchoscopy procedures. Additionally, it provides coated tubes and wires; and microelectromechanical system sensor components. The company sells its products to hospitals and clinic-based physicians, technicians, and nurses through its direct sales force, distributors, original equipment manufacturer partners, or custom procedure tray manufacturers in the United States and internationally. Merit Medical Systems, Inc. was founded in 1987 and is headquartered in South Jordan, Utah.

Details
Name: Merit Medical Systems, Inc.
MM3
Exchange: DB
Founded: 1987
$2,843,415,275
55,004,915
Website: http://www.merit.com
Address: Merit Medical Systems, Inc.
1600 West Merit Parkway,
South Jordan,
Utah, 84095,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS MMSI Common Stock Nasdaq Global Select US USD 10. May 1990
DB MM3 Common Stock Deutsche Boerse AG DE EUR 10. May 1990
Number of employees
Current staff
Staff numbers
5,783
Merit Medical Systems employees.
Industry
Health Care Supplies
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 02:51
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.