Merit Medical Systems Inc (MMSI)

Surgical & Medical Instruments & Apparatus

Latest Price

$93.53

TTM P/E

38.49

Normalized P/E

50.77

TTM Div Yield

Fwd Div Yield

Book Value

28.16

P/B Ratio

3.32

Valuation metrics

EPS: $2.13

Book value / share: $26.66

Formula: √(22.5 × EPS × BVPS)

Graham Number

$35.75

62% downside

Norm. op. income: $88M (median of 7yr)

Tax rate: 16%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$7.57

92% downside

Base FCF: $119M (median of recent 5yr)

Growth: 16%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$73.50

21% downside

EPS: $2.13

Target P/E: 51×

Formula: EPS × P/E

P/E Fair Value

$108.63

+16% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	9.46M	$656.0M	15.85%	+630.2K	2026-06-30
Vanguard Portfolio Management LLC	3.47M	$240.0M	5.82%	-49.3K	2026-06-30
Vanguard Capital Management LLC	2.59M	$179.0M	4.34%	-65.7K	2026-06-30
State Street Corp	2.47M	$171.0M	4.14%	+113.5K	2026-06-30
Conestoga Capital Advisors, LLC	1.98M	$137.0M	3.32%	-187.7K	2026-06-30
Geode Capital Management, LLC	1.63M	$112.0M	2.72%	+117.6K	2026-06-30
Fuller & Thaler Asset Management, Inc.	1.61M	$111.0M	2.70%	-502.5K	2026-06-30
Dimensional Fund Advisors LP	1.46M	$101.0M	2.44%	+221.5K	2026-06-30
UBS Group AG	1.36M	$94.0M	2.27%	+155.0K	2026-06-30
Nomura Asset Management International Inc.	1.28M	$88.0M	2.14%	+80.9K	2026-06-30