MMSI Merit Medical Systems margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 68

Gross margin

49.4%

Operating margin

13.5%

EBITDA margin

23.6%

Net margin

9.9%

Based on the latest figures, Merit Medical Systems reports a gross margin of 49.4%, an operating margin of 13.5%, an EBITDA margin of 23.6%, and a net margin of 9.9%. The company's available margins all improved, with EBITDA margin showing the strongest expansion of 2.4 percentage points.

MMSI margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Merit Medical Systems recorded average margins of 47.84% gross, 11.65% operating, 21.46% EBITDA, and 8.68% net. Compared with their three-year averages, all four current margins are higher.

MMSI margin expansion

Year-over-year margin changes in percentage points

The biggest expansion was in EBITDA margin, which rose by 2.4 percentage points. The other available margins also improved.

Gross margin expansion

0.9pp

Operating margin expansion

2.2pp

EBITDA margin expansion

2.4pp

Net margin expansion

1.9pp

MMSI Gross margin

Merit Medical Systems's gross margin averaged 47.84% in the last 3 years. Compared with its three-year average, Merit Medical Systems's current gross margin is 49.4% and is 1.6 percentage points above its three-year average. Over the last 3 years, Merit Medical Systems's gross margin peaked at 49.5% in Jun 2026 and reached a low of 46.4% in Dec 2023.

MMSI Operating margin

Looking at the last 3 years, Merit Medical Systems had an average operating margin of 11.65%. Against its three-year average, Merit Medical Systems's operating margin is currently 13.5%, 1.9 percentage points above its three-year average. Looking back over the last 3 years, Merit Medical Systems's operating margin reached 13.5% at its highest point in Sep 2026 and 9.9% at its lowest in Dec 2023.

MMSI EBITDA margin

Merit Medical Systems recorded an average EBITDA margin of 21.46% across the last 3 years. Merit Medical Systems currently reports an EBITDA margin of 23.6%, 2.1 percentage points above its three-year average. Looking back over the last 3 years, Merit Medical Systems's EBITDA margin reached 23.6% at its highest point in Sep 2026 and 18.2% at its lowest in Dec 2023.

MMSI Net margin

Looking at the last 3 years, Merit Medical Systems had an average net margin of 8.68%. Merit Medical Systems's current net margin is 9.9% and is 1.2 percentage points above its three-year average. Looking back over the last 3 years, Merit Medical Systems's net margin reached 9.9% at its highest point in Sep 2026 and 7.5% at its lowest in Dec 2023.

MMSI margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 49.4%, MMSI ranks lower than the Healthcare sector, the industry and its peers average. In comparison with the Healthcare sector average of 68.3%, Merit Medical Systems's gross margin is 28% lower.

MMSI margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Merit Medical Systems's gross margin?

As of Sep 30, 2026, MMSI has a gross margin of 49.4%.

What is Merit Medical Systems's operating margin?

For the period ending Sep 30, 2026, MMSI recorded an operating margin of 13.5%.

What is Merit Medical Systems's EBITDA margin?

For the period ending Sep 30, 2026, MMSI recorded an EBITDA margin of 23.6%.

What is Merit Medical Systems's net margin?

The current net margin for MMSI is 9.9% as of Sep 30, 2026.

What are the average margins of MMSI?

Merit Medical Systems's average margins over the last 3 years were 47.8% gross, 11.7% operating, 21.5% EBITDA, and 8.7% net.

What are the highest historical margins of MMSI?

Over this 5-year history, MMSI peaked at 49.5% gross in Jun 2026, 13.5% operating in Sep 2026, 23.6% EBITDA in Sep 2026, and 9.9% net in Sep 2026.

What are the lowest historical margins of MMSI?

Within the 5-year period, MMSI recorded its lowest margins at 44.9% gross in Mar 2022, 5.6% operating in Mar 2022, 14% EBITDA in Mar 2022, and 4.4% net in Mar 2022.