Merit Medical Systems (MMSI) Operating Margin (2010 - 2026)
Merit Medical Systems recorded quarterly Operating Margin of 11.56% in Q1 2026, up 148.14% quarter-over-quarter from 24.02% in Q4 2025, and up 2.0% year-over-year from 11.34% in Q1 2025.
Merit Medical Systems' Operating Margin history runs 17 years deep, the most recent figure standing at 11.56% for Q1 2026.
- In Q1 2026, Operating Margin rose 2.0% year-over-year to 11.56%; the TTM figure through Mar 2026 stood at 2.53% (down 11.0% YoY), while the FY2025 annual figure was 2.37%, up 5.0% from the prior year.
- Operating Margin came in at 11.56% for Q1 2026 at Merit Medical Systems, up from 24.02% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 13.59% in Q2 2024 to a low of 24.67% in Q4 2024.
- A 5-year average of 4.24% and a median of 10.37% in 2022 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin soared 471 bps in 2022 and plunged 3095 bps in 2023, its largest moves.
- Merit Medical Systems' Operating Margin stood at 10.37% in 2022, then slumped by 299 bps to 20.58% in 2023, then dropped by 20 bps to 24.67% in 2024, then grew by 3 bps to 24.02% in 2025, then surged by 148 bps to 11.56% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 11.56%, 24.02%, and 11.09% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 156.17 Bn | 151.78 Bn | 1.83 Bn | 30.87% |
| 2 | Becton Dickinson | 41.51 Bn | 40.49 Bn | 2.15 Bn | 1.97% |
| 3 | Resmed | 30.43 Bn | 28.77 Bn | 890.98 Mn | 34.92% |
| 4 | West Pharmaceutical Services | 22.78 Bn | 22.26 Bn | 296.40 Mn | 20.96% |
| 5 | Solventum | 13.39 Bn | 13.39 Bn | 1.10 Bn | 4.04% |
| 6 | Cooper Companies | 12.33 Bn | 12.20 Bn | 695.20 Mn | 20.78% |
| 7 | Align Technology | 11.65 Bn | 10.59 Bn | 736.59 Mn | 13.65% |
| 8 | Baxter International | 9.81 Bn | 7.77 Bn | 891.00 Mn | 2.44% |
| 9 | Aptargroup | 7.39 Bn | 7.19 Bn | 351.91 Mn | 10.94% |
| 10 | Merit Medical Systems | 3.79 Bn | 3.30 Bn | 184.80 Mn | 11.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 11.56% |
| Dec 31, 2025 | -24.02% |
| Sep 30, 2025 | 11.09% |
| Jun 30, 2025 | 12.26% |
| Mar 31, 2025 | 11.55% |
| Dec 31, 2024 | -24.67% |
| Sep 30, 2024 | 10.96% |
| Jun 30, 2024 | 13.59% |
| Mar 31, 2024 | 11.10% |
| Dec 31, 2023 | -20.58% |
| Sep 30, 2023 | 11.15% |
| Jun 30, 2023 | 9.00% |
| Mar 31, 2023 | 8.87% |
| Dec 31, 2022 | 10.37% |
| Sep 30, 2022 | 6.50% |
| Jun 30, 2022 | 7.88% |
| Mar 31, 2022 | 5.53% |
| Dec 31, 2021 | 7.86% |
| Sep 30, 2021 | 5.97% |
| Jun 30, 2021 | 3.17% |
| Mar 31, 2021 | 5.70% |
| Dec 31, 2020 | 6.20% |
| Sep 30, 2020 | 0.03% |
| Jun 30, 2020 | -8.70% |
| Mar 31, 2020 | 0.56% |
| Dec 31, 2019 | -1.32% |
| Sep 30, 2019 | -1.19% |
| Jun 30, 2019 | 4.77% |
| Mar 31, 2019 | 4.00% |
| Dec 31, 2018 | 5.86% |
| Sep 30, 2018 | 9.50% |
| Jun 30, 2018 | 6.72% |
| Mar 31, 2018 | 4.32% |
| Dec 31, 2017 | 6.92% |
| Sep 30, 2017 | 0.49% |
| Jun 30, 2017 | 7.16% |
| Mar 31, 2017 | 3.28% |
| Dec 31, 2016 | 7.99% |
| Sep 30, 2016 | 1.90% |
| Jun 30, 2016 | 7.67% |
| Mar 31, 2016 | 5.58% |
| Dec 31, 2015 | 5.82% |
| Sep 30, 2015 | 6.28% |
| Jun 30, 2015 | 8.87% |
| Mar 31, 2015 | 6.72% |
| Dec 31, 2014 | 10.71% |
| Sep 30, 2014 | 9.38% |
| Jun 30, 2014 | 5.73% |
| Mar 31, 2014 | 5.44% |
| Dec 31, 2013 | 9.10% |
| Sep 30, 2013 | 7.28% |
| Jun 30, 2013 | 6.17% |
| Mar 31, 2013 | 1.69% |
| Dec 31, 2012 | 4.24% |
| Sep 30, 2012 | 9.47% |
| Jun 30, 2012 | 8.18% |
| Mar 31, 2012 | 8.37% |
| Dec 31, 2011 | 6.18% |
| Sep 30, 2011 | 7.19% |
| Jun 30, 2011 | 11.89% |
| Mar 31, 2011 | 11.79% |
| Dec 31, 2010 | 6.80% |
| Sep 30, 2010 | -4.70% |
| Jun 30, 2010 | 11.71% |