MMSI (Merit Medical Systems) EBIT: $213 Mil (TTM As of Mar. 2026)


MMSI Merit Medical Systems Inc MMSI
83 GF Score
Price $69.20
GF Value $96.68
Valuation Modestly Undervalued
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What is Merit Medical Systems EBIT?

Merit Medical Systems MMSI +2.82% 83 EBIT is $213 Mil as of Mar. 2026. GuruFocus rates MMSI with a GF Score™ of 83/100 and a GF Value™ of $96.68 (Modestly Undervalued).

Merit Medical Systems's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $60 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $213 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merit Medical Systems's annualized ROC % for the quarter that ended in Mar. 2026 was 6.67%. Merit Medical Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 27.17%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merit Medical Systems's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.77%.


Merit Medical Systems  (NAS:MMSI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Merit Medical Systems's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=175.912 * ( 1 - 23.44% )/( (2010.877 + 2025.558)/ 2 )
=134.6782272/2018.2175
=6.67 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=2685.922 - 228.641 - ( 446.404 - max(0, 239.764 - 1040.154+446.404))
=2010.877

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=2719.284 - 205.646 - ( 488.08 - max(0, 216.874 - 1101.774+488.08))
=2025.558

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Merit Medical Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=240.288/( ( (516.001 + max(344.961, 0)) + (520.333 + max(387.493, 0)) )/ 2 )
=240.288/( ( 860.962 + 907.826 )/ 2 )
=240.288/884.394
=27.17 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(203.71 + 333.705 + 36.434) - (228.641 + 0.247 + 0)
=344.961

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(206.446 + 352.386 + 34.307) - (205.646 + 0 + 0)
=387.493

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Merit Medical Systems's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=212.944/4461.599
=4.77 %

* 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.


Merit Medical Systems EBIT Related Terms


Merit Medical Systems EBIT Historical Data

* Premium members only.

The historical data trend for Merit Medical Systems's EBIT 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.

Merit Medical Systems EBIT Chart

Merit Medical Systems Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 59.18 88.97 127.60 181.21 197.40

Merit Medical Systems Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 44.53 50.15 45.29 57.42 60.07

MMSI vs NVST, MMED, ICUI: EBIT Comparison

For the Medical Instruments & Supplies subindustry, Merit Medical Systems's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Merit Medical Systems's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Merit Medical Systems's EV-to-EBIT falls into.


MMSI
83GF Score
Merit Medical Systems Inc MMSI
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Merit Medical Systems EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $213 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $213 Mil mean?
Merit Medical Systems (MMSI) has a EBIT of $213 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merit Medical Systems.
Is Merit Medical Systems' EBIT too high?
Merit Medical Systems' current EBIT is $213 Mil. 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' EBIT compare to NVST and MMED?
Merit Medical Systems' EBIT of $213 Mil can be compared against companies in the Medical Devices & Instruments industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Medical Devices & Instruments company?
A good EBIT depends on the Medical Devices & Instruments industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merit Medical Systems. Merit Medical Systems's current EBIT is $213 Mil. 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 $96.68, compared to a current price of $69.20 — trading 28.4% below its estimated fair value. The current EBIT is $213 Mil. 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 EBIT calculated?
EBIT is calculated from a company's financial statements. For Merit Medical Systems (MMSI), the current EBIT is $213 Mil 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 $69.20 is trading 28.4% below its estimated GF Value™ of $96.68. GuruFocus considers Merit Medical Systems to be Modestly Undervalued.

Key valuation signals for MMSI:

  • EBIT: $213 Mil
  • GF Value™: $96.68 vs. price of $69.20 (28.4% below fair value)
  • GF Score™: 83/100

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 Business Description

Other Exchanges MM3:Germany
Address 1600 West Merit Parkway, South Jordan, UT, USA, 84095
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

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$69.20
Price
$96.68
GF Value