Merit Medical Systems Inc
NASDAQ:MMSI
Income Statement
Earnings Waterfall
Merit Medical Systems Inc
Revenue
|
1.3B
USD
|
Cost of Revenue
|
-686.1m
USD
|
Gross Profit
|
597.2m
USD
|
Operating Expenses
|
-463.8m
USD
|
Operating Income
|
133.4m
USD
|
Other Expenses
|
-31.6m
USD
|
Net Income
|
101.9m
USD
|
Income Statement
Merit Medical Systems Inc
Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
464
N/A
|
483
+4%
|
497
+3%
|
510
+3%
|
520
+2%
|
529
+2%
|
537
+1%
|
542
+1%
|
551
+2%
|
564
+2%
|
585
+4%
|
604
+3%
|
637
+5%
|
672
+6%
|
695
+3%
|
728
+5%
|
760
+4%
|
798
+5%
|
840
+5%
|
883
+5%
|
918
+4%
|
949
+3%
|
970
+2%
|
995
+3%
|
1 000
+1%
|
963
-4%
|
964
+0%
|
964
+0%
|
969
+1%
|
1 031
+6%
|
1 054
+2%
|
1 075
+2%
|
1 101
+2%
|
1 116
+1%
|
1 136
+2%
|
1 151
+1%
|
1 173
+2%
|
1 198
+2%
|
1 226
+2%
|
1 257
+3%
|
1 283
+2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(261)
|
(271)
|
(279)
|
(285)
|
(291)
|
(295)
|
(301)
|
(306)
|
(310)
|
(317)
|
(330)
|
(339)
|
(356)
|
(374)
|
(384)
|
(402)
|
(421)
|
(444)
|
(465)
|
(488)
|
(507)
|
(526)
|
(545)
|
(563)
|
(569)
|
(559)
|
(562)
|
(563)
|
(560)
|
(582)
|
(587)
|
(589)
|
(607)
|
(611)
|
(623)
|
(632)
|
(637)
|
(644)
|
(658)
|
(673)
|
(686)
|
|
Gross Profit |
203
N/A
|
212
+4%
|
218
+3%
|
225
+3%
|
229
+1%
|
234
+2%
|
236
+1%
|
236
+0%
|
241
+2%
|
247
+2%
|
255
+3%
|
265
+4%
|
281
+6%
|
298
+6%
|
311
+4%
|
326
+5%
|
338
+4%
|
354
+5%
|
376
+6%
|
395
+5%
|
411
+4%
|
423
+3%
|
425
+0%
|
432
+2%
|
432
0%
|
404
-6%
|
402
-1%
|
401
0%
|
409
+2%
|
449
+10%
|
468
+4%
|
485
+4%
|
494
+2%
|
505
+2%
|
513
+2%
|
519
+1%
|
537
+3%
|
554
+3%
|
568
+2%
|
584
+3%
|
597
+2%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(171)
|
(179)
|
(180)
|
(184)
|
(186)
|
(187)
|
(192)
|
(198)
|
(204)
|
(211)
|
(225)
|
(230)
|
(247)
|
(261)
|
(276)
|
(290)
|
(300)
|
(315)
|
(316)
|
(335)
|
(352)
|
(366)
|
(390)
|
(393)
|
(397)
|
(379)
|
(356)
|
(348)
|
(347)
|
(376)
|
(400)
|
(410)
|
(416)
|
(417)
|
(423)
|
(429)
|
(437)
|
(449)
|
(446)
|
(455)
|
(464)
|
|
Selling, General & Administrative |
(133)
|
(140)
|
(145)
|
(148)
|
(148)
|
(149)
|
(152)
|
(156)
|
(161)
|
(166)
|
(180)
|
(184)
|
(199)
|
(212)
|
(213)
|
(227)
|
(235)
|
(248)
|
(260)
|
(276)
|
(289)
|
(300)
|
(321)
|
(327)
|
(328)
|
(315)
|
(300)
|
(298)
|
(300)
|
(325)
|
(339)
|
(336)
|
(339)
|
(333)
|
(336)
|
(343)
|
(349)
|
(364)
|
(361)
|
(369)
|
(378)
|
|
Research & Development |
(34)
|
(35)
|
(36)
|
(37)
|
(38)
|
(37)
|
(40)
|
(42)
|
(43)
|
(45)
|
(45)
|
(46)
|
(48)
|
(50)
|
(63)
|
(64)
|
(65)
|
(68)
|
(57)
|
(60)
|
(62)
|
(63)
|
(66)
|
(66)
|
(65)
|
(62)
|
(59)
|
(58)
|
(59)
|
(63)
|
(66)
|
(71)
|
(72)
|
(80)
|
(82)
|
(82)
|
(86)
|
(83)
|
(83)
|
(84)
|
(84)
|
|
Other Operating Expenses |
(4)
|
(4)
|
1
|
1
|
1
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
0
|
(2)
|
(3)
|
0
|
(4)
|
(2)
|
3
|
8
|
13
|
11
|
6
|
(3)
|
(5)
|
(5)
|
(5)
|
(5)
|
(3)
|
(2)
|
(2)
|
(2)
|
(1)
|
|
Operating Income |
33
N/A
|
33
+2%
|
38
+14%
|
41
+9%
|
42
+3%
|
47
+11%
|
44
-8%
|
38
-14%
|
37
-3%
|
36
-2%
|
30
-15%
|
35
+15%
|
34
-3%
|
37
+9%
|
35
-5%
|
37
+4%
|
39
+6%
|
39
+1%
|
60
+53%
|
59
-1%
|
59
+0%
|
58
-3%
|
36
-38%
|
39
+10%
|
35
-11%
|
25
-28%
|
46
+83%
|
54
+16%
|
63
+17%
|
73
+16%
|
68
-7%
|
75
+11%
|
78
+4%
|
88
+13%
|
91
+3%
|
90
-1%
|
99
+11%
|
105
+6%
|
122
+16%
|
129
+6%
|
133
+3%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(9)
|
(9)
|
(10)
|
(9)
|
(8)
|
(7)
|
(6)
|
(6)
|
(6)
|
(6)
|
(8)
|
(9)
|
(10)
|
(10)
|
(8)
|
(12)
|
(7)
|
(9)
|
(9)
|
(5)
|
(10)
|
(10)
|
(9)
|
(13)
|
(10)
|
(10)
|
(12)
|
(9)
|
(9)
|
(6)
|
(5)
|
(5)
|
(4)
|
(4)
|
(5)
|
(6)
|
(7)
|
(9)
|
(12)
|
(13)
|
(12)
|
|
Non-Reccuring Items |
0
|
0
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
11
|
9
|
8
|
8
|
(4)
|
(2)
|
(1)
|
(1)
|
0
|
(1)
|
(3)
|
(24)
|
(28)
|
(49)
|
(67)
|
(55)
|
(51)
|
(34)
|
(13)
|
(14)
|
(16)
|
(12)
|
(12)
|
(2)
|
(1)
|
(1)
|
(1)
|
(5)
|
0
|
|
Total Other Income |
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
(1)
|
4
|
(1)
|
(2)
|
(1)
|
(4)
|
0
|
1
|
(2)
|
(0)
|
(4)
|
(4)
|
(2)
|
(2)
|
(1)
|
(2)
|
(3)
|
(3)
|
(2)
|
(3)
|
(2)
|
1
|
2
|
3
|
2
|
1
|
(1)
|
|
Pre-Tax Income |
24
N/A
|
24
+0%
|
28
+17%
|
32
+15%
|
35
+12%
|
41
+15%
|
37
-9%
|
31
-16%
|
30
-5%
|
29
-2%
|
22
-23%
|
25
+13%
|
35
+38%
|
36
+4%
|
34
-6%
|
36
+5%
|
27
-25%
|
27
+1%
|
49
+80%
|
50
+2%
|
50
+1%
|
47
-5%
|
22
-53%
|
2
-90%
|
(7)
N/A
|
(38)
-467%
|
(35)
+9%
|
(13)
+62%
|
1
N/A
|
31
+2 086%
|
47
+54%
|
54
+15%
|
56
+3%
|
69
+25%
|
73
+5%
|
83
+14%
|
94
+14%
|
98
+4%
|
111
+13%
|
112
+1%
|
121
+8%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(5)
|
(5)
|
(7)
|
(9)
|
(10)
|
(12)
|
(11)
|
(7)
|
(7)
|
(6)
|
(3)
|
(5)
|
(4)
|
(4)
|
(6)
|
(6)
|
(7)
|
(5)
|
(7)
|
(4)
|
(4)
|
(5)
|
(0)
|
3
|
3
|
8
|
5
|
3
|
3
|
(2)
|
(4)
|
(6)
|
(7)
|
(11)
|
(11)
|
(8)
|
(9)
|
(9)
|
(11)
|
(18)
|
(19)
|
|
Income from Continuing Operations |
19
|
19
|
21
|
23
|
25
|
29
|
26
|
24
|
23
|
23
|
19
|
20
|
31
|
33
|
28
|
30
|
20
|
22
|
42
|
45
|
46
|
42
|
22
|
6
|
(4)
|
(30)
|
(30)
|
(10)
|
4
|
28
|
43
|
49
|
48
|
58
|
62
|
75
|
85
|
90
|
100
|
94
|
102
|
|
Net Income (Common) |
19
N/A
|
19
-1%
|
21
+12%
|
23
+11%
|
25
+10%
|
29
+15%
|
26
-10%
|
24
-9%
|
23
-3%
|
23
0%
|
19
-17%
|
20
+5%
|
31
+52%
|
33
+7%
|
28
-14%
|
28
-2%
|
18
-35%
|
19
+8%
|
40
+104%
|
42
+6%
|
43
+2%
|
39
-9%
|
19
-51%
|
6
-71%
|
(4)
N/A
|
(30)
-667%
|
(30)
+1%
|
(10)
+67%
|
4
N/A
|
28
+558%
|
43
+53%
|
49
+12%
|
48
-1%
|
58
+22%
|
62
+6%
|
75
+21%
|
85
+14%
|
90
+6%
|
100
+12%
|
94
-6%
|
102
+8%
|
|
EPS (Diluted) |
0.44
N/A
|
0.44
N/A
|
0.49
+11%
|
0.53
+8%
|
0.59
+11%
|
0.67
+14%
|
0.6
-10%
|
0.53
-12%
|
0.52
-2%
|
0.51
-2%
|
0.42
-18%
|
0.45
+7%
|
0.67
+49%
|
0.64
-4%
|
0.56
-13%
|
0.54
-4%
|
0.34
-37%
|
0.37
+9%
|
0.71
+92%
|
0.77
+8%
|
0.75
-3%
|
0.68
-9%
|
0.34
-50%
|
0.1
-71%
|
-0.08
N/A
|
-0.54
-575%
|
-0.53
+2%
|
-0.18
+66%
|
0.08
N/A
|
0.51
+538%
|
0.77
+51%
|
0.84
+9%
|
0.84
N/A
|
1.02
+21%
|
1.08
+6%
|
1.29
+19%
|
1.45
+12%
|
1.53
+6%
|
1.73
+13%
|
1.62
-6%
|
1.75
+8%
|