Merit Medical Systems (MMSI) Research & Development (2010 - 2026)
Merit Medical Systems' Research & Development was $22.39 million in Q3 2026, down 6.6% from $23.97 million a year earlier and down 11.8% from the prior quarter.
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Analysis
Merit Medical Systems (MMSI) Research & Development (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Merit Medical Systems' Research & Development was $96.93 million through Sep 30, 2026, up 1.0% year-over-year; for FY2025, it came in at $97.35 million, up 11.3% from FY2024.
- Research & Development has now increased for five consecutive years, with a five-year compound annual growth rate of 11.1% (FY2020 to FY2025).
- In earlier years, Research & Development was $87.47 million in FY2024 (+5.7%), $82.73 million in FY2023 (+9.6%), $75.51 million in FY2022 (+6.0%) and $71.25 million in FY2021 (+23.8%).
- The Q3 2026 figure marks the lowest quarterly Research & Development since Q3 2024.
- Compared with a year earlier, Research & Development was higher in seven of the last eight quarters, with growth averaging 7.7%.
- The best year-over-year quarter for Research & Development over five years was Q4 2021 (growth of 34.8%); the worst was Q3 2026 (a decline of 6.6%).
- Per Business Quant data, MMSI's Research & Development in the three quarters before Q3 2026 was $25.39 million (Q2 2026), $22.61 million (Q1 2026) and $26.54 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 265.71 Bn | 242.23 Bn | 5.13 Bn | 348.00 Mn |
| 2 | Abbott Laboratories | 189.37 Bn | 163.23 Bn | 7.39 Bn | 920.00 Mn |
| 3 | Danaher | 164.78 Bn | 144.43 Bn | 3.84 Bn | 433.00 Mn |
| 4 | Intuitive Surgical | 157.85 Bn | 138.13 Bn | 2.08 Bn | 408.30 Mn |
| 5 | Medtronic | 129.66 Bn | 94.91 Bn | 6.34 Bn | 771.00 Mn |
| 6 | Stryker | 121.82 Bn | 108.01 Bn | 4.25 Bn | 433.00 Mn |
| 7 | Boston Scientific | 63.42 Bn | 58.86 Bn | 3.43 Bn | 520.00 Mn |
| 8 | Edwards Lifesciences | 59.49 Bn | 42.69 Bn | 1.35 Bn | 281.40 Mn |
| 9 | Becton Dickinson | 58.38 Bn | 55.53 Bn | 2.32 Bn | 258.00 Mn |
| 10 | Merit Medical Systems | 5.24 Bn | 3.36 Bn | 200.63 Mn | 22.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 22.39 Mn |
| Jun 30, 2026 | 25.39 Mn |
| Mar 31, 2026 | 22.61 Mn |
| Dec 31, 2025 | 26.54 Mn |
| Sep 30, 2025 | 23.97 Mn |
| Jun 30, 2025 | 24.37 Mn |
| Mar 31, 2025 | 22.48 Mn |
| Dec 31, 2024 | 25.19 Mn |
| Sep 30, 2024 | 20.53 Mn |
| Jun 30, 2024 | 20.26 Mn |
| Mar 31, 2024 | 21.48 Mn |
| Dec 31, 2023 | 21.64 Mn |
| Sep 30, 2023 | 19.65 Mn |
| Jun 30, 2023 | 20.13 Mn |
| Mar 31, 2023 | 21.31 Mn |
| Dec 31, 2022 | 20.44 Mn |
| Sep 30, 2022 | 19.22 Mn |
| Jun 30, 2022 | 18.47 Mn |
| Mar 31, 2022 | 17.39 Mn |
| Dec 31, 2021 | 20.41 Mn |
API Access
Merit Medical Systems Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=MMSI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "MMSI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=MMSI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();