5-Year Return on Invested Incremental Capital (5-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 5-year.
Merit Medical Systems's 5-Year ROIIC % for the quarter that ended in Dec. 2025 was 18.57%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Merit Medical Systems's 5-Year ROIIC % or its related term are showing as below:
MMSI's 5-Year ROIIC % is ranked better than 72.44% of 733
companies
in the Medical Devices & Instruments industry
Industry Median: 1.04
vs MMSI: 18.57
Merit Medical Systems (NAS:MMSI) 5-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Merit Medical Systems 5-Year ROIIC % Related Terms
Merit Medical Systems 5-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Merit Medical Systems's 5-Year ROIIC % 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: 5-Year ROIIC % Comparison
For the Medical Instruments & Supplies subindustry, Merit Medical Systems's 5-Year ROIIC %, along with its competitors' market caps and 5-Year ROIIC % 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 5-Year ROIIC % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Merit Medical Systems's 5-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Merit Medical Systems's 5-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 5-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Merit Medical Systems (MMSI) has a 5-Year ROIIC % of 18.57 as of Dec. 2025. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Merit Medical Systems and its competitors. According to the industry distribution chart, Merit Medical Systems ranks #202 out of 733 companies in the Medical Devices & Instruments industry, placing it in the top 27.6%.
Is Merit Medical Systems' 5-Year ROIIC % too high?
Merit Medical Systems' current 5-Year ROIIC % is 18.57. The Medical Devices & Instruments industry median 5-Year ROIIC % is 1.04. Merit Medical Systems' value of 18.57 is 1685.6% above this industry median. Based on the distribution chart, Merit Medical Systems ranks #202 out of 733 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Merit Medical Systems has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merit Medical Systems' 5-Year ROIIC % compare to NVST and MMED?
According to the Medical Devices & Instruments industry distribution chart, Merit Medical Systems ranks #202 out of 733 companies for 5-Year ROIIC %. This puts Merit Medical Systems in the upper half of its industry. The industry median 5-Year ROIIC % is 1.04. Merit Medical Systems' value of 18.57 is 1685.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 5-Year ROIIC % for a Medical Devices & Instruments company?
The median 5-Year ROIIC % among Medical Devices & Instruments companies is 1.04, based on 733 companies in the industry. Companies in the top quartile (top 25%) have a 5-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 5-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merit Medical Systems's current 5-Year ROIIC % of 18.57 is 1685.6% 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 5-Year ROIIC % mean?
A high 5-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Merit Medical Systems and its competitors. For the Medical Devices & Instruments industry, the median 5-Year ROIIC % is 1.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merit Medical Systems's current 5-Year ROIIC % is 18.57. 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 $96.98, compared to a current price of $71.46 — trading 26.3% below its estimated fair value. The current 5-Year ROIIC % is 18.57 and 1685.6% above the Medical Devices & Instruments industry median of 1.04. Merit Medical Systems' overall GF Score™ is 79/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 5-Year ROIIC % calculated?
5-Year ROIIC % is calculated from a company's financial statements. For Merit Medical Systems (MMSI), the current 5-Year ROIIC % is 18.57 as of Dec. 2025. 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 $71.46 is trading 26.3% below its estimated GF Value™ of $96.98.
GuruFocus considers Merit Medical Systems to be Modestly Undervalued.
Key valuation signals for MMSI:
5-Year ROIIC %: 18.57
GF Value™: $96.98 vs. price of $71.46 (26.3% below fair value)
Industry Position: 1685.6% above the Medical Devices & Instruments median (#202 of 733)
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.
79GF Score
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