Merit Medical Systems Inc (MMSI)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	2,325,240	1,808,500	1,837,570	1,684,110	1,663,970	1,632,740	1,631,520	1,629,740	1,648,290	1,643,170	1,642,390	1,651,720	1,664,400	1,670,510	1,715,870	1,749,270	1,757,320	1,761,700	1,736,270	1,689,790
Total stockholders’ equity	US$ in thousands	1,202,000	1,229,880	1,203,700	1,171,660	1,144,400	1,088,840	1,073,310	1,056,520	1,039,800	1,013,380	992,434	976,692	958,575	933,837	928,847	939,798	949,944	949,241	950,675	940,111
Financial leverage ratio		1.93	1.47	1.53	1.44	1.45	1.50	1.52	1.54	1.59	1.62	1.65	1.69	1.74	1.79	1.85	1.86	1.85	1.86	1.83	1.80

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,325,240K ÷ $1,202,000K
= 1.93

The financial leverage ratio of Merit Medical Systems, Inc. has shown some fluctuation over the past eight quarters. In Q4 2023, the ratio stood at 1.93, indicating that the company's reliance on debt to finance its operations and growth was relatively high. This represents an increase compared to the previous quarter, Q3 2023, where the ratio was 1.47, suggesting a significant jump in leverage.

Looking further back, the trend in financial leverage has been somewhat erratic. In Q2 and Q3 2022, the ratios were 1.52 and 1.50, respectively, showing relatively stable leverage levels. However, in Q1 2022, the ratio increased to 1.54, which was followed by a slight decrease in the subsequent quarters.

Overall, the financial leverage ratio of Merit Medical Systems, Inc. has displayed variability, with occasional spikes and declines. It is crucial for stakeholders to monitor this ratio closely to assess the company's debt management and financial risk levels.