Merit Medical Systems

Health clinics hospitals medical devices

Merit Medical Systems is a manufacturer and marketer of disposable medical devices used in a range of interventional, diagnostic and therapeutic medical procedures. The Company serves hospitals and clinic-based cardiologists, radiologists, neurologists, nephrologists, vascular and orthopaedic surgeons, interventional gastroenterologists and pulmonologists, physiatrists, general surgeons, thoracic surgeons, oncologists, electrophysiologists, technicians, and nurses.

Revenue(FY, 2017)

$727.9 M

Market capitalization(2018-04-25)

$2.3 B

Type

Public

South Jordan, US

Founded

1987

Size (employees)

4,150 (est)

Website

merit.com

Merit Medical Systems was founded in 1987 and is headquartered in South Jordan, US

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Key People/Management at Merit Medical Systems

Bernard Birkett

CFO

Jason Treft

CTO

Joseph Pierce

CIO

Brian Lloyd

Chief Legal Officer

Fred Lampropoulos

Chairman and Chief Executive Officer

John Knorpp

Chief Regulatory Affairs Officer

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Merit Medical Systems Office Locations

Merit Medical Systems has an office in South Jordan

South Jordan, US (HQ)

1600 Merit Pkwy

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Merit Medical Systems Financials and Metrics

Merit Medical Systems Financials

Merit Medical Systems's revenue was reported to be $727.85 m in FY, 2017

Summary

USD
Revenue (FY, 2017)	727.9 m
Gross profit (FY, 2017)	326.3 m
Gross profit margin (FY, 2017), %	44.8%
Net income (FY, 2017)	27.5 m
EBIT (FY, 2017)	33.1 m
Market capitalization (25-Apr-2018)	2.3 b
Cash (31-Dec-2017)	32.3 m
EV	2.5 b

Merit Medical Systems's current market capitalization is $2.3 b.

Source: SEC Filibgs

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	449 m	509.7 m	542.1 m	603.8 m	727.9 m
Revenue growth, %		14%	6%	11%
Cost of goods sold	254.7 m	284.5 m	306.4 m	338.8 m	401.6 m
Gross profit	194.4 m	225.2 m	235.8 m	265 m	326.3 m

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Revenue	119.2 m	128.9 m	128.8 m	129.6 m	138.1 m	136.1 m	138.1 m	151.1 m	157 m	171.1 m	186.5 m
Cost of goods sold	67.2 m	73.2 m	71.4 m	74.2 m	77.2 m	76.9 m	78 m	84.2 m	89.2 m	95.1 m	102.4 m
Gross profit	52 m	55.6 m	57.4 m	55.4 m	60.9 m	59.2 m	60.1 m	66.9 m	67.8 m	75.9 m	84.1 m
Gross profit Margin, %	44%	43%	45%	43%	44%	44%	44%	44%	43%	44%	45%

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Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	7.5 m	7.4 m	4.2 m	19.2 m	32.3 m
Accounts Receivable	3.3 m	7.5 m	6.8 m	5.4 m
Inventories	82.4 m	91.8 m	106 m	120.7 m	155.3 m
Current Assets	165.9 m	192.3 m	204 m	243.4 m	316.1 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Cash	9.1 m	12.6 m	9.4 m	6.4 m	9.9 m	12.1 m	5.9 m	5.2 m	10.5 m	17.3 m	26.5 m	37.7 m
Accounts Receivable	2.5 m	2.8 m	4 m	4.2 m	5.8 m	6.5 m	6.6 m	5.5 m	4.7 m	3.4 m	4.9 m	5.6 m
Inventories	81.1 m	84.7 m	86.5 m	92.9 m	88.3 m	92.7 m	100.3 m	110.7 m	109.9 m	116.9 m	134.3 m	136.7 m
Current Assets	162.5 m	177.5 m	180.1 m	186 m	187.9 m	192.4 m	194.3 m	210 m	220 m	234.3 m	272.2 m	295.6 m

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Source: SEC Filibgs

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	16.6 m	23 m	23.8 m	20.1 m	27.5 m
Depreciation and Amortization	32.5 m	35.9 m	37.4 m	43.8 m	53.6 m
Inventories	2.3 m	(9.4 m)	(13 m)	(3.7 m)	(17.8 m)
Accounts Payable	(5 k)	5.3 m	14.8 m	(6.8 m)	417 k

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Net Income	10 m	2.8 m	6.5 m	14.3 m	5.2 m	12.6 m	17.4 m	4.4 m	11.6 m	12.6 m	14.8 m	24.3 m
Depreciation and Amortization	23.9 m	8.7 m	17.6 m	26.7 m	9.1 m	18.3 m	27.7 m	9.7 m	19.7 m	31.6 m	12.8 m	25.7 m
Inventories	3.2 m	(2.4 m)	(4.1 m)	(10.6 m)	3.5 m	166 k	(7.4 m)	(2.3 m)	(1.4 m)	220 k	844 k	(2.2 m)
Accounts Payable	(4.1 m)	(485 k)	2.3 m	655 k	84 k	5.2 m	9.7 m	2.4 m	(5.1 m)	(9 m)	1 m	3.7 m