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Merit Medical Systems MMSI
$ 90.49
1.06%
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Merit Medical Systems Income Statement 2025-2008 | MMSI
Brief overview of financial results at Merit Medical Systems
The conclusions below are based on five years of reported results. Revenue at Merit Medical Systems moved from 964 million dollars in 2020 to 1.5 billion dollars in 2025. Overall revenue changed by +57.3%, equal to an annualized rate of about 9.5%. This represents moderate business growth.
Gross profit changed from 401 million dollars to 738 million dollars (+84%). Direct costs grew more slowly than revenue and improved the economics of sales. The gross margin was 41.6% at the start and 48.7% at the end. The business retained more gross profit from each unit of revenue.
EBITDA changed from $92.5 million to $308 million (+232.8%). The operating result outpaced sales and points to improving efficiency. EBITDA margin moved from 9.6% to 20.3%. Higher profitability strengthens the quality of operating growth.
The net financial result changed from −$9.8 million to $128 million. The company restored profitability by the end of the period.
Market capitalization changed from $3 billion to $4.9 billion (+61.7%). Capitalization grew more slowly than the underlying results.
What the figures show
The indicators form a favorable picture of business development. The financial profile benefits from positive operating leverage, a stronger final result and a stronger gross margin. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Merit Medical Systems
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
4.85 B | 5.94 B | 4.57 B | 3.98 B | 3.11 B | 3 B | 2.04 B | 2.86 B | 2.28 B | 1.1 B | 729 M | 661 M | 622 M | 581 M | 551 M | 417 M | 401 M | - |
Shares |
59.2 M | 58.2 M | 57.6 M | 56.8 M | 56.1 M | 55.4 M | 55.1 M | 52.3 M | 48.8 M | 44.4 M | 44 M | 43.1 M | 42.6 M | 42.2 M | 39.1 M | 35.3 M | 35 M | - |
Historical Prices |
82.1 | 102 | 79.4 | 70.2 | 55.5 | 54.1 | 36.4 | 56.5 | 46.5 | 25.4 | 16.6 | 15.3 | 14.4 | 13.9 | 14.1 | 11.8 | 11.5 | 12.7 |
Net Income |
128 M | 120 M | 94.4 M | 74.5 M | 48.5 M | -9.84 M | 5.45 M | 42 M | 27.5 M | 20.1 M | 23.8 M | 23 M | 16.6 M | 19.7 M | 23 M | 4.21 M | 22.5 M | - |
Revenue |
1.52 B | 1.36 B | 1.26 B | 1.15 B | 1.07 B | 964 M | 995 M | 883 M | 728 M | 604 M | 542 M | 510 M | 449 M | 394 M | 359 M | - | - | - |
Cost of Revenue |
778 M | 713 M | 673 M | 632 M | 589 M | 563 M | 562 M | 488 M | 402 M | 339 M | - | - | - | - | - | - | - | - |
Gross Profit |
738 M | 643 M | 584 M | 519 M | 485 M | 401 M | 432 M | 395 M | 326 M | 265 M | 236 M | 225 M | 194 M | 182 M | 165 M | 128 M | 109 M | - |
Operating Income |
185 M | 156 M | 124 M | 87.6 M | 60.9 M | -1.56 M | 15.4 M | 58.6 M | 33.1 M | 34.9 M | 37.5 M | 40.2 M | 27.8 M | 29.6 M | 33.2 M | 17.2 M | 32.8 M | - |
Interest Expense |
-2.39 M | -711 K | 15.5 M | 6.34 M | 5.26 M | 9.99 M | 12.4 M | 10.4 M | 7.74 M | 8.8 M | 6.23 M | 8.83 M | 8.04 M | 604 K | 789 K | 596 K | 28 K | - |
EBITDA |
308 M | 258 M | 214 M | 169 M | 145 M | 92.5 M | 144 M | 129 M | 99.3 M | 79.2 M | 76 M | 76.6 M | 64.4 M | 54.6 M | 58.2 M | 32.1 M | 45.1 M | - |
Operating Expenses |
554 M | 488 M | 460 M | 432 M | 424 M | 403 M | 393 M | 336 M | 281 M | 230 M | 197 M | 185 M | 163 M | 150 M | 126 M | 111 M | 76 M | - |
General and Administrative Expenses |
455 M | 400 M | 374 M | 343 M | 336 M | 298 M | 327 M | 276 M | 229 M | 184 M | 156 M | 148 M | 129 M | 122 M | 105 M | 87.6 M | 64.8 M | - |
All numbers in USD currency
Quarterly Income Statement Merit Medical Systems
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
59.7 M | 59.5 M | 59.4 M | 59.2 M | 59.1 M | 58.9 M | 58.7 M | 58.2 M | 58.1 M | 58 M | 57.9 M | 57.7 M | 57.5 M | 57.4 M | 57.3 M | 56.8 M | 56.7 M | 56.6 M | 56.6 M | 56.3 M | 56.1 M | 55.7 M | 55.6 M | 55.5 M | 55.4 M | 55.2 M | 55.2 M | 55.2 M | 55 M | 54.9 M | 54.9 M | 53.4 M | 50.5 M | 50.3 M | 50.2 M | 50.2 M | 50 M | 44.8 M | 44.6 M | 44.4 M | 44.3 M | 44.3 M | 44.3 M | 44.2 M | 44.1 M | 43.7 M | 43.6 M | 43.2 M | 43.1 M | 42.9 M | - | 42.6 M | 42.6 M | 42.5 M | - | 42.2 M | 42 M | 42 M | 42 M | 41.9 M | 36.8 M | 35.6 M |
Net Income |
38.8 M | 41 M | - | 27.8 M | 32.6 M | 30.1 M | - | 28.4 M | 35.7 M | 28.2 M | - | 25.8 M | 20.2 M | 20.7 M | - | 15.3 M | 15.3 M | 10.5 M | - | 12 M | 4.92 M | 11 M | 15.4 M | -3.01 M | -19.1 M | -3.15 M | -4.2 M | -3.4 M | 6.86 M | 6.2 M | 9.19 M | 16.6 M | 10.9 M | 5.27 M | 6.81 M | -3.57 M | 9.48 M | 14.8 M | 7.51 M | 973 K | 7.29 M | 4.35 M | 6.41 M | 4.82 M | 7.4 M | 5.17 M | 8.67 M | 7.76 M | 3.72 M | 2.82 M | 6.54 M | 5.61 M | 3.75 M | 671 K | 641 K | 7.23 M | 6.1 M | 5.75 M | 4.97 M | 4.56 M | 6.87 M | 6.64 M |
Revenue |
419 M | 382 M | - | 384 M | 382 M | 355 M | - | 340 M | 338 M | 324 M | - | 315 M | 320 M | 298 M | - | 287 M | 295 M | 275 M | - | 267 M | 280 M | 249 M | 258 M | 244 M | 218 M | 244 M | 258 M | 243 M | 256 M | 238 M | 233 M | 222 M | 225 M | 203 M | 191 M | 179 M | 187 M | 171 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 91.1 M | 90.5 M | 91.2 M | 86.6 M |
Cost of Revenue |
204 M | 197 M | - | 198 M | 198 M | 183 M | - | 182 M | 177 M | 172 M | - | 173 M | 167 M | 159 M | - | 159 M | 160 M | 155 M | - | 147 M | 156 M | 137 M | - | 142 M | 134 M | 140 M | - | 139 M | 144 M | 134 M | - | 120 M | 125 M | 115 M | - | 98.8 M | 102 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
215 M | 185 M | - | 186 M | 184 M | 172 M | - | 158 M | 161 M | 152 M | - | 142 M | 153 M | 138 M | - | 129 M | 135 M | 121 M | - | 120 M | 124 M | 112 M | 111 M | 102 M | 84.2 M | 104 M | 112 M | 104 M | 112 M | 105 M | 105 M | 102 M | 100 M | 88.1 M | 85.7 M | 80.5 M | 84.1 M | 75.9 M | 70.3 M | 67.8 M | 66.9 M | 60.1 M | 60.3 M | 59.2 M | 60.9 M | 55.4 M | 60.1 M | 57.4 M | 55.6 M | 52 M | 53.4 M | 51 M | 47 M | 43 M | 45.5 M | 45.3 M | 47 M | 44.2 M | 42.1 M | 41.1 M | 42.5 M | 39.8 M |
Operating Income |
60.4 M | 44.2 M | - | 42.6 M | 46.9 M | 41 M | - | 37.3 M | 45.9 M | 35.9 M | - | 35.1 M | 28.8 M | 26.4 M | - | 18.7 M | 23.3 M | 15.2 M | - | 15.9 M | 8.9 M | 14.2 M | 16 M | 64 K | -19 M | 1.36 M | -3.41 M | -2.88 M | 12.2 M | 9.52 M | 13.7 M | 21.1 M | 15.1 M | 8.78 M | 13.2 M | 879 K | 13.4 M | 5.61 M | 12.6 M | 2.99 M | 11.6 M | 7.71 M | - | 8.55 M | 12.2 M | 8.7 M | - | 12.1 M | 7.38 M | 6.49 M | - | 8.39 M | 6.78 M | 1.76 M | - | 9.08 M | 8.22 M | 8.01 M | - | 6.51 M | 10.8 M | 10.2 M |
Interest Expense |
-723 K | 12 M | - | -933 K | -487 K | -297 K | - | 245 K | 15 K | -804 K | - | -255 K | -451 K | 2.01 M | - | 1.83 M | 1.35 M | 1 M | - | 1.23 M | 1.39 M | 1.54 M | - | 2.2 M | 2.72 M | 3.14 M | - | 3.42 M | 3.12 M | 2.76 M | - | 2.33 M | 3.34 M | 2.4 M | - | 1.59 M | 1.64 M | 2.71 M | - | 3.02 M | 1.77 M | 1.33 M | - | 1.49 M | 1.71 M | 1.57 M | - | 2.01 M | 2.35 M | 2.61 M | - | 1.92 M | 1.84 M | 1.54 M | - | 128 K | 112 K | 112 K | - | 19 K | 311 K | 425 K |
EBITDA |
91.4 M | 74.7 M | - | 73.9 M | 77.9 M | 70.3 M | - | 54.2 M | 70 M | 59.5 M | - | 50.5 M | 42.2 M | 46.9 M | - | 30.8 M | 35.4 M | 35.7 M | - | 79.1 M | 21.3 M | 35.6 M | 16 M | 70.5 M | 28 M | 24.7 M | -3.41 M | 65.6 M | 57.2 M | 31.9 M | 13.7 M | 71.5 M | 47.9 M | 24.1 M | 13.2 M | 40.3 M | 39.1 M | 18.4 M | 12.6 M | 34.6 M | 31.3 M | 17.4 M | - | 36.3 M | 30.5 M | 17.8 M | - | 38.8 M | 25 M | 15.2 M | - | 32.3 M | 22.5 M | 9.44 M | - | 25.8 M | 18.5 M | 12.8 M | - | 20.8 M | 20.3 M | 15 M |
Operating Expenses |
155 M | 141 M | - | 144 M | 138 M | 131 M | - | 120 M | 115 M | 116 M | - | 107 M | 124 M | 112 M | - | 110 M | 112 M | 106 M | - | 105 M | 115 M | 97.7 M | - | 102 M | 103 M | 102 M | - | 107 M | 99.8 M | 95.1 M | - | 81 M | 84.9 M | 79.3 M | - | 79.6 M | 70.8 M | 70.3 M | - | 64.8 M | 55.3 M | 52.4 M | - | 50.7 M | 48.6 M | 46.7 M | - | 45.3 M | 48.2 M | 45.6 M | - | 42.6 M | 40.2 M | 41.2 M | - | 36.3 M | 38.8 M | 36.2 M | - | 34.5 M | 31.6 M | 29.6 M |
General and Administrative Expenses |
129 M | 118 M | - | 120 M | 113 M | 107 M | - | 99.6 M | 94.6 M | 94.4 M | - | 86.9 M | 101 M | 90.1 M | - | 89.8 M | 85.5 M | 84 M | - | 86.5 M | 91.6 M | 81 M | - | 72.2 M | 66.8 M | 78.8 M | - | 86.9 M | 80 M | 78.3 M | - | 66.4 M | 69.1 M | 64.9 M | - | 54.7 M | 57.4 M | 57.8 M | - | 53.2 M | 43.7 M | 41.7 M | - | 39.2 M | 39.3 M | 36.9 M | - | 36.3 M | 38.6 M | 36.8 M | - | 31.4 M | 31.6 M | 32.1 M | - | 28.9 M | 30.2 M | 29.5 M | - | 25.7 M | 26.2 M | 24.6 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Merit Medical Systems (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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