“The increase in other expense for 2025 compared to 2024 was principally the result of a decrease in interest income associated with decreased average cash and cash equivalents during the period, partially offset by reduced interest expense associated with bor…”10-K · Feb 24, 2026 ↗
Merit Medical Systems, Inc.
MMSI
Market read
Merit Medical Systems, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
- Revenue increased 7.5% versus the comparable filing period.
- MMSI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if MMSI's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 20 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
- Revenue increased 7.5% versus the comparable filing period.
- Net income increased 36.0% versus the comparable filing period.
No thresholded adverse filing evidence is available yet.
- MMSI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +11.8% year over year.
- Operating cash flow covered net income at 2.31x in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 3 filings.
- EV/sales is 20% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
86.42Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“For the three and nine-month periods ended September 30, 2025, R&D expenses increased compared to the corresponding periods of 2024 primarily due to increased regulatory costs and clinical trials.”10-Q · Oct 30, 2025 ↗
“Gains and losses resulting from these translations are included in accumulated other comprehensive loss as a separate component of stockholders’ equity.”10-K · Feb 24, 2026 ↗
“The Company is the importer of record for certain raw materials and products that were previously subject to such tariffs under IEEPA.”10-Q · Apr 30, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.4× · EV/sales 3.6×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MMSI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-04-30 against the comparable filing from 2025-04-24.
What improved
- Revenue increased 7.5% versus the comparable filing period.
- Net income increased 36.0% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The increase in our net income for the three-month period ended March 31, 2026 was the result of several principal factors, including increased sales and other income, partially offset by increased SG&A expenses and income tax expense. LIQUIDITY AND CAPITAL RESOURCES Capital Commitments, Contractual Obligations and Cash Flows As of March 31, 2026 and December 31, 2025, our current assets exceeded current liabilities by $884.9 million and $800.4 million, respectively, and we had cash, cash equivalents and restricted cash of $490.2 million and $448.5 million, respectively, of which $65.1 million and $66.0 million, respectively, were held by foreign subsidiaries.”
“For the three-month period ended March 31, 2026, SG&A expenses increased compared to the corresponding period of 2025, primarily due to an increase in labor-related costs including (i) commissions associated with sales growth and (ii) headcount additions to support investment in the business and growth from acquisitions, including those in connection with the Biolife Merger.”
“The increase in income tax expense for the three-month period ended March 31, 2026, when compared to the prior-year period, was primarily due to increased pre-tax book income and rate impact items previously listed.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind MMSI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BLFSBioLife Solutions, Inc.supplierApr 30, 2026 ▾
“Sales for the three-month period ended March 31, 2026 were favorably affected by increased sales within our access platform, including sales of our StatSeal and WoundSeal products acquired from Biolife, and our vascular intervention platforms, partially offse…”
BLFSBioLife Solutions, Inc.partnerApr 30, 2026 ▾
“For the three-month period ended March 31, 2026, SG&A expenses increased compared to the corresponding period of 2025, primarily due to an increase in labor-related costs including (i) commissions associated with sales growth and (ii) headcount additions to s…”
ABTAbbott LaboratoriescompetitorFeb 24, 2026 ▾
“Our primary competitors in our cardiac intervention market are BD, Teleflex, Medtronic, Abbott Laboratories, Terumo Corporation, Edwards Lifesciences Corporation, Cook Medical, and Boston Scientific.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MMSI is currently a Follower in the organic co-movement group Medical Devices. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.