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Merit Medical Systems, Inc. (MMSI)

NEUTRAL
HealthcareMedical Instruments & SuppliesUnited States

ファンダメンタル

72

株価

$91.70

時価総額

$5.42B

パート1 · 企業の価値

概要

Merit Medical Systems, Inc. designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States, China, Japan, Germany, France, the United Kingdom, and internationally. It operates through two segments, Cardiovascular and Endoscopy. The company offers micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention products comprising angiography, drainage, delivery systems, and embolotherapy products; oncology products, such as soft tissue biopsy products and accessories; cardiac intervention products consisting of cardiac access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention products; and spine products, including vertebral augmentation, radiofrequency ablation, and bone biopsy systems. It also provides custom procedural solutions, including critical care products, syringes, manifold kits, and trays and packs; coating services for medical tubes and wires; and sensor components for microelectromechanical systems. In addition, the company offers gastroenterology products, such as esophageal stents, cryoballoon and inflation devices, gauges, and balloon dilators; pulmonary products consisting of laser-cut tracheobronchial stents, and over-the-wire and direct visualization delivery systems; and kits and accessories for endoscopy and bronchoscopy procedures. It sells its products to hospitals, alternate site-based physicians, technicians, and nurses through direct sales force, independent distributors, original equipment manufacturer partners, and custom procedure tray manufacturers. The company exports its products to Canada, Western Europe, Australia, Brazil, Malaysia, South Korea, the United Arab Emirates, India, New Zealand, and South Africa. Merit Medical Systems, Inc. was incorporated in 1987 and is headquartered in South Jordan, Utah.

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貸借対照表と流動性

売上高

$1.58B

直近12か月(2026/6/30まで)

純利益

$146M

直近12か月(2026/6/30まで)

フリーキャッシュフロー

$216M

自己資本合計

$1.58B

負債合計

$1.10B

流動比率

4.20

利払い倍率

6.34

負債/EBITDA

2.66

一株当たり利益(EPS)

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

負債の重さ

成長率グリッド

成長率 — 売上高

適正価値の推定

General case割高

適正価値

$74.50

現在株価

$91.70

安全マージン

-23.1%

適正価値レンジ

$48.43 - $100.58

推定方法

Analyst price target:$100.27
Discounted cash flow (DCF):$92.48
Earnings multiple (P/E):$47.60
Graham growth formula:$39.56
Earnings power value (EPV):$33.13
Justified P/B:$31.85
Dividend discount (Gordon):Not enough data to compute it
P/FFO, funds from operations:Not enough data to compute it
Mid-cycle earnings:$39.47
Revenue multiple:Not enough data to compute it
アナリスト・コンセンサス:強い買い (14B / 3H / 0S)
直近の決算サプライズ:+21.65%

バリュエーション指標

P/E レシオ

37.15

ROE

8.1%

P/B レシオ

3.21

P/FCF

26.53

粗利益率

49.5%

ROIC

6.1%

収益性レーダー

Value Creation (Economic Moat)

ROIC

6.1%

WACC

7.3%

ROIC − WACC

-1.2 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

ファンダメンタル分析基準

合格(21)

  • EPS shows upward trend
  • EPS CAGR 7.91%
  • Price CAGR 13.10%
  • ROIC 6.1%
  • Gross Margin 49.5%
  • P/FCF 26.53
  • Debt/Equity ratio
  • Operating Margin 12.8%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 9.1%
  • Revenue Growth 5Y 9.5%
  • Analyst Consensus 82% Buy
  • Earnings Surprise avg 11.9%
  • Earnings Quality (OCF/NI) 1.95
  • Share Dilution 1.7%
  • Net Margin Trend 9.2% vs 8.3%
  • Piotroski F-Score 7/9

不合格(5)

  • P/B Ratio 3.21
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

データなし(2)

  • Dividend Payout NaN%
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-スコア

7/9

財務健全性が高い

score
criteria

利益の質

1.95

高品質:利益はキャッシュに裏付けられている

株式希薄化

1.7%

株式数は安定している

ガバナンス

経営陣

氏名役職年齢
Ms. Martha Goldberg AronsonPresident, CEO & Director58
Mr. Raul Parra Jr., CPACFO & Treasurer46
Mr. Brian G. Lloyd J.D.Chief Legal Officer & Corporate Secretary64
Mr. Michel J. VoigtChief Human Resources Officer52
Mr. Jason TreftChief Information Officer-
Ms. Sarah ComstockVice President of Global Communications-
Mr. John KnorppChief Regulatory Affairs Officer-
Mr. Ricardo AlvarezManaging Director of Operation Merit Medical Tijuana-
Mr. Mark ButlerExecutive Vice President of Merit Medical EMEA-
Ms. Alisha JerauldSustainability Council Chair and Vice President of Environment, Social & Governance-

監査リスク

2

取締役会リスク

2

報酬リスク

1

株主権利リスク

4

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

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