Stock fact sheet · data as of
Merit Medical Systems, Inc. (MMSI): fair value, margin of safety and Wheel Score
Healthcare · Medical - Instruments & Supplies · United States · High Growth
Is MMSI undervalued?
Merit Medical Systems, Inc. (MMSI) closed at 89.57 on 16 Oct 2026, 36% above the GLS average fair value of 65.92. 5 of the 8 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
The 8 models disagree widely: Lynch gives 15.56 while Payback Time gives 111.08. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files MMSI under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for MMSI
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 109.77 | +23% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 39.30 | -56% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 50.70 | -43% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 15.56 | -83% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 81.24 | -9% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 92.62 | +3% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 111.08 | +24% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 27.10 | -70% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1.03 | -101% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 101.88 | +14% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - MMSI passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 7.4 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are moderate - ROIC 5.2%, ROE 8.1%, ROA 4.8% - with debt at 0.57 times equity and a free-cash-flow yield of 3.8%.
Merit Medical Systems, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Therapeutic 99%, Product and Service, Other 1% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 2/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 5.2% |
|---|---|---|---|
| GLS Moat | 7.4 / 10 | ROE | 8.1% |
| Debt / equity | 0.57 | ROA | 4.8% |
| Free-cash-flow yield | 3.8% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 2 · 5 / 10 |
Wheel Score 59: Fair
MMSI scores 59 out of 100 on the Wheel Score (Fair band, 50-64): a usable but unremarkable fit for the wheel strategy. The parts: Value 0/25, Health 13/20, Moat 11/15, Premium 19/20, Stability 16/20. Value (0/25) is where the points are missing.
Implied volatility is 34% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (19 of 20 points). Chain open interest is thin - 811 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 707k shares a day on a market cap of $5.3B, with a beta of 0.51 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 16 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -36% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 11 / 15 | moat 7.4/10 | |
| Premium | 19 / 20 | implied volatility 34% | |
| Stability | 16 / 20 | 707k shares/day, $5.3B cap, beta 0.51 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Merit Medical Systems, Inc. reports earnings on 29 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Medical - Instruments & Supplies
The 12 companies below are the closest to Merit Medical Systems, Inc. by market cap within the Medical - Instruments & Supplies industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| STVN Stevanato Group S.p.A. | 19.31 | 10.82 | -79% | 58Fair | $5.3B |
| TFX Teleflex Incorporated | 123.29 | 85.49 | -44% | 45Weak | $5.2B |
| BLCO Bausch + Lomb Corporation | 16.66 | 10.95 | -52% | 45Weak | $6.0B |
| ICUI ICU Medical, Inc. | 167.23 | 60.82 | -175% | 50Fair | $4.2B |
| NVST Envista Holdings Corp | 23.50 | 20.52 | -15% | 65Good | $3.8B |
| ATR AptarGroup, Inc. | 124.26 | 102.12 | -22% | 60Fair | $7.9B |
| PLSE Pulse Biosciences, Inc. | 46.32 | 1.06 | -4275% | 38Weak | $3.3B |
| ATRC AtriCure, Inc. | 57.78 | 12.55 | -361% | 58Fair | $2.9B |
| AVTR Avantor, Inc. | 16.09 | 17.57 | +8% | 45Weak | $10.9B |
| COO The Cooper Companies, Inc. | 57.40 | 51.06 | -12% | 65Good | $10.9B |
| RGEN Repligen Corporation | 178.20 | 25.50 | -599% | 58Fair | $11.3B |
| BAX Baxter International Inc. | 25.76 | 24.77 | -4% | 45Weak | $13.3B |
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Start free See the Sunday ScanQuestions about MMSI
Is MMSI undervalued right now?
No: at 89.57 the stock trades 36% above the GLS average fair value of 65.92 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of MMSI and what does it mean?
MMSI scores 59 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for MMSI?
65.92 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Merit Medical Systems, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (after the close), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does MMSI have listed options, and how liquid are they?
Yes. The nightly snapshot found 192 listed contracts with 811 open interest across all expiries and implied volatility of 34% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.