Merit Medical SystemsFRA:MM3 +2.50%86 Net Current Asset Value is €0.13 as of Mar. 2026, which is 100% below its 10-year median of 328.23. GuruFocus rates FRA:MM3 with a GF Score™ of 86/100 and a GF Value™ of €83.98 (Modestly Undervalued). Among 568 Medical Devices & Instruments companies, Merit Medical Systems ranks worse than 99.47% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Merit Medical Systems's net current asset value per share for the quarter that ended in Mar. 2026 was €0.13.
The historical rank and industry rank for Merit Medical Systems's Net Current Asset Value or its related term are showing as below:
FRA:MM3'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 68.21 Med: 328.23 Max: 3072.5
Current: 473.08
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Merit Medical Systems was 3072.50. The lowest was 68.21. And the median was 328.23.
FRA:MM3's Price-to-Net-Current-Asset-Value is ranked worse than 99.47% of 568
companies
in the Medical Devices & Instruments industry
Industry Median: 5.1
vs FRA:MM3: 473.08
Merit Medical Systems (FRA:MM3) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Merit Medical Systems Net Current Asset Value Related Terms
Merit Medical Systems Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Merit Medical Systems's Net Current Asset Value 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 Net Current Asset Value Chart
FRA:MM3 vs NVST, MMED, ICUI: Net Current Asset Value Comparison
For the Medical Instruments & Supplies subindustry, Merit Medical Systems's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Merit Medical Systems's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Merit Medical Systems's Price-to-Net-Current-Asset-Value 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.
What does a Net Current Asset Value of €0.13 mean?
Merit Medical Systems (FRA:MM3) has a Net Current Asset Value of €0.13 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Merit Medical Systems and its competitors. This is 100% below median its historical median of 328.23. Over the past decade, Merit Medical Systems' Net Current Asset Value has ranged from 68.21 to 3,072.50. According to the industry distribution chart, Merit Medical Systems ranks #565 out of 568 companies in the Medical Devices & Instruments industry, placing it in the top 99.5%.
Is Merit Medical Systems' Net Current Asset Value too high?
Merit Medical Systems' current Net Current Asset Value of €0.13 is 100% below median its 10-year median of 328.23. Over the past 10 years, this metric has ranged from a low of 68.21 to a high of 3,072.50. Based on the distribution chart, Merit Medical Systems ranks #565 out of 568 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Merit Medical Systems has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merit Medical Systems' Net Current Asset Value compare to NVST and MMED?
According to the Medical Devices & Instruments industry distribution chart, Merit Medical Systems ranks #565 out of 568 companies for Net Current Asset Value. This places Merit Medical Systems in the lower half of its industry. The industry median Net Current Asset Value is 5.10. Historically, Merit Medical Systems' own Net Current Asset Value has ranged from 68.21 to 3,072.50 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 5.10, based on 568 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value 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 Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Merit Medical Systems and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merit Medical Systems's current Net Current Asset Value is €0.13, which is 100% below median its own 10-year median of 328.23. 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 (FRA:MM3) is currently considered Modestly Undervalued. The stock's GF Value™ is €83.98, compared to a current price of €61.50 — trading 26.8% below its estimated fair value. The current Net Current Asset Value is €0.13, which is 100% below median its 10-year median of 328.23. Merit Medical Systems' overall GF Score™ is 86/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Merit Medical Systems (FRA:MM3), the current Net Current Asset Value is €0.13 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 (FRA:MM3) Overvalued in 2026?
Based on GuruFocus' analysis, Merit Medical Systems stock appears to be undervalued.
The current stock price of €61.50 is trading 26.8% below its estimated GF Value™ of €83.98.
GuruFocus considers Merit Medical Systems to be Modestly Undervalued.
Key valuation signals for FRA:MM3:
Net Current Asset Value: €0.13 (100% below median its 10-year median of 328.23)
GF Value™: €83.98 vs. price of €61.50 (26.8% below fair value)
No single metric tells the full story. See the FRA:MM3 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.
86GF Score
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