Merit Medical Systems, Inc. Income Statement
MMSI / Health Care|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
Merit Medical Systems, Inc. reported $1.5B in revenue and $128M in net income for FY2025. Revenue has grown at a 10.8% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.4B | $1.3B | $1.2B | $994.9M | $882.8M | $727.9M | $603.8M | $542.1M | $509.7M | $449.0M | $394.3M | $359.4M | $394.3M | $359.4M |
| Cost of Revenue | $777.6M | $713.2M | $673.5M | $631.9M | $562.5M | $488.0M | $401.6M | $338.8M | $306.4M | $284.5M | $254.7M | $212.3M | $194.0M | $212.3M | $194.0M |
| Gross Profit | $738.3M | $643.3M | $583.9M | $519.1M | $432.4M | $394.8M | $326.3M | $265.0M | $235.8M | $225.2M | $194.4M | $182.0M | $165.5M | $182.0M | $165.5M |
| SG&A Expense | $455.2M | $399.7M | $373.7M | $342.5M | $327.3M | $276.0M | $229.1M | $184.4M | $156.3M | $147.9M | $128.6M | $122.1M | $104.5M | $122.1M | $104.5M |
| R&D Expense | $97.4M | $87.5M | $82.7M | $75.5M | $65.6M | $59.5M | $51.4M | $45.2M | $40.8M | $36.6M | $33.9M | $27.8M | $21.9M | $27.8M | $21.9M |
| Operating Income | $184.7M | $155.7M | $123.9M | $87.6M | $15.4M | $58.6M | $33.1M | $34.9M | $37.5M | $40.2M | $27.8M | $29.6M | $33.2M | $29.6M | $33.2M |
| Interest Expense | - | - | $15.5M | $6.3M | $12.4M | $10.4M | $7.7M | $8.8M | $6.2M | $8.8M | $8.0M | $604.0K | $789.0K | $604.0K | $789.0K |
| Income Tax | $42.4M | $29.6M | $17.7M | $8.1M | -$3.3M | $7.5M | $8.4M | $5.3M | $7.4M | $8.6M | $3.3M | $7.9M | $9.8M | $7.9M | $9.8M |
| Net Income | $128.5M | $120.4M | $94.4M | $74.5M | $5.5M | $42.0M | $27.5M | $20.1M | $23.8M | $23.0M | $16.6M | $2.8M | $671.0K | $5.7M | $6.6M |
| EPS (Basic) | $1.64 | $1.31 | $0.86 | -$0.18 | $0.10 | $0.80 | $0.56 | $0.45 | $0.54 | $0.53 | $0.39 | $0.47 | $0.59 | $0.35 | $0.64 |
| EPS (Diluted) | $1.62 | $1.29 | $0.84 | -$0.18 | $0.10 | $0.78 | $0.55 | $0.45 | $0.53 | $0.53 | $0.39 | $0.46 | $0.58 | $0.35 | $0.63 |
| Shares Outstanding | 58.7M | 57.9M | 57.3M | 56.6M | 55.6M | 55.2M | 54.9M | 50.2M | 44.6M | 44.3M | 43.6M | 42.6M | 39.7M | 36.0M | 35.8M |
| Gross Margin | 48.7% | 47.4% | 46.4% | 45.1% | 43.5% | 44.7% | 44.8% | 43.9% | 43.5% | 44.2% | 43.3% | 46.2% | 46.0% | 46.2% | 46.0% |
| Operating Margin | 12.2% | 11.5% | 9.9% | 7.6% | 1.6% | 6.6% | 4.5% | 5.8% | 6.9% | 7.9% | 6.2% | 7.5% | 9.2% | 7.5% | 9.2% |
| Profit Margin | 8.5% | 8.9% | 7.5% | 6.5% | 0.5% | 4.8% | 3.8% | 3.3% | 4.4% | 4.5% | 3.7% | 0.7% | 0.2% | 1.5% | 1.8% |