Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Merit Medical SystemsMMSI -0.31%83 Debt-to-EBITDA is 2.20 as of Mar. 2026, which is 26% below its 10-year median of 2.96. GuruFocus rates MMSI with a GF Score™ of 83/100 and a GF Value™ of $97.25 (Modestly Undervalued). Among 467 Medical Devices & Instruments companies, Merit Medical Systems ranks worse than 62.31% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Merit Medical Systems's Debt-to-EBITDA or its related term are showing as below:
MMSI'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.48 Med: 2.96 Max: 4.39
Current: 2.36
During the past 13 years, the highest Debt-to-EBITDA Ratio of Merit Medical Systems was 4.39. The lowest was 1.48. And the median was 2.96.
MMSI's Debt-to-EBITDA is ranked worse than 62.31% of 467
companies
in the Medical Devices & Instruments industry
Industry Median: 1.57
vs MMSI: 2.36
Merit Medical Systems (NAS:MMSI) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Merit Medical Systems Debt-to-EBITDA Related Terms
Merit Medical Systems Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Merit Medical Systems's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MMSI vs NVST, MMED, ICUI: Debt-to-EBITDA Comparison
For the Medical Instruments & Supplies subindustry, Merit Medical Systems's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Merit Medical Systems Debt-to-EBITDA vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Merit Medical Systems's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Merit Medical Systems's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Merit Medical Systems (MMSI) has a Debt-to-EBITDA of 2.20 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Merit Medical Systems. This is 26% below median its historical median of 2.96. Over the past decade, Merit Medical Systems' Debt-to-EBITDA has ranged from 1.48 to 4.39. According to the industry distribution chart, Merit Medical Systems ranks #291 out of 467 companies in the Medical Devices & Instruments industry, placing it in the top 62.3%.
Is Merit Medical Systems' Debt-to-EBITDA too high?
Merit Medical Systems' current Debt-to-EBITDA of 2.20 is 26% below median its 10-year median of 2.96. Over the past 10 years, this metric has ranged from a low of 1.48 to a high of 4.39. The Medical Devices & Instruments industry median Debt-to-EBITDA is 1.57. Merit Medical Systems' value of 2.20 is 40.1% above this industry median. Based on the distribution chart, Merit Medical Systems ranks #291 out of 467 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Merit Medical Systems has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merit Medical Systems' Debt-to-EBITDA compare to NVST and MMED?
According to the Medical Devices & Instruments industry distribution chart, Merit Medical Systems ranks #291 out of 467 companies for Debt-to-EBITDA. This places Merit Medical Systems in the lower half of its industry. The industry median Debt-to-EBITDA is 1.57. Merit Medical Systems' value of 2.20 is 40.1% above this benchmark. Historically, Merit Medical Systems' own Debt-to-EBITDA has ranged from 1.48 to 4.39 over the past decade. While the company's 10-year median is 2.96 vs. the industry median of 1.57, Merit Medical Systems has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Medical Devices & Instruments company?
The median Debt-to-EBITDA among Medical Devices & Instruments companies is 1.57, based on 467 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merit Medical Systems's current Debt-to-EBITDA of 2.20 is 40.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Merit Medical Systems. For the Medical Devices & Instruments industry, the median Debt-to-EBITDA is 1.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merit Medical Systems's current Debt-to-EBITDA is 2.20, which is 26% below median its own 10-year median of 2.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merit Medical Systems stock overvalued right now?
Based on GuruFocus' analysis, Merit Medical Systems (MMSI) is currently considered Modestly Undervalued. The stock's GF Value™ is $97.25, compared to a current price of $72.87 — trading 25.1% below its estimated fair value. The current Debt-to-EBITDA is 2.20, which is 26% below median its 10-year median of 2.96 and 40.1% above the Medical Devices & Instruments industry median of 1.57. Merit Medical Systems' overall GF Score™ is 83/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Merit Medical Systems (MMSI), the current Debt-to-EBITDA is 2.20 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Merit Medical Systems (MMSI) Overvalued in 2026?
Based on GuruFocus' analysis, Merit Medical Systems stock appears to be undervalued.
The current stock price of $72.87 is trading 25.1% below its estimated GF Value™ of $97.25.
GuruFocus considers Merit Medical Systems to be Modestly Undervalued.
Key valuation signals for MMSI:
Debt-to-EBITDA: 2.20 (26% below median its 10-year median of 2.96)
GF Value™: $97.25 vs. price of $72.87 (25.1% below fair value)
Industry Position: 40.1% above the Medical Devices & Instruments median (#291 of 467)
No single metric tells the full story. See the MMSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merit Medical Systems Inc is a medical equipment company that develops and manufactures products for interventional cardiology, radiology, and endoscopy procedures. The firm reports two segments which are Cardiovascular and Endoscopy. The majority of the revenue is earned from the Cardiovascular segment which consists of cardiology and radiology medical device products that assist in diagnosing and treating coronary artery disease, peripheral vascular disease, and other non-vascular diseases and includes embolotherapeutic, cardiac rhythm management, electrophysiology, critical care, and interventional oncology and spine devices.
83GF Score
Get the complete analysis for MMSI
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MMSI has been successfully added to your 
