Which has the lower trailing P/E, MMSI or WAY?

MMSI has the lower trailing P/E: MMSI trades at 35.11 and WAY at 37.71. P/E is one valuation measure and does not by itself establish which business is cheaper.

Is MMSI or WAY more profitable?

WAY runs the higher net margin — MMSI at 9.22% versus WAY at 11.18%.

Merit Medical Systems, Inc. (MMSI) vs Waystar Holding Corp. (WAY)

A side-by-side comparison of Merit Medical Systems, Inc. and Waystar Holding Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

MMSI

Merit Medical Systems, Inc.

$5.07B

$84.96HealthcareDelayed quote: Oct 6, 2026, 4:00 PM EDT

WAY

Waystar Holding Corp.

$5.06B

$26.40HealthcareDelayed quote: Oct 6, 2026, 4:00 PM EDT

Total return — MMSI vs WAY

growth of $100 · dividends reinvested · last 2y

MMSI +8.3% (+4.1%/yr)WAY +27.9% (+13.1%/yr)WAY compounded faster over this window

MMSI WAY

MMSI vs WAY: by the numbers

•MMSI is the larger company ($5.07B vs $5.06B market cap).
•MMSI trades at the lower trailing earnings multiple (35.11 vs 37.71 P/E), one valuation lens rather than an overall verdict.
•WAY converts more revenue to profit (11.18% vs 9.22% net margin).

Metrics side by side

Valuation

Metric	MMSI	WAY
P/E ratio	35.11	37.71
Forward P/E	19.75	15.81
P/S ratio	3.21	4.20
P/B ratio	3.02	1.27
EV / EBITDA	16.14	15.10
FCF yield	4.01%	4.86%

Profitability

Metric	MMSI	WAY
Gross margin	49.52%	69.11%
Operating margin	12.75%	22.87%
Net margin	9.22%	11.18%
ROE	8.67%	3.38%
ROIC	5.80%	3.38%

Growth (annualized)

Metric	MMSI	WAY
Revenue CAGR (5Y)	8.90%	N/A
FCF CAGR (5Y)	8.96%	N/A
Total return CAGR (5Y)	3.88%	N/A

Frequently asked

Which has the lower trailing P/E, MMSI or WAY?: MMSI has the lower trailing P/E: MMSI trades at 35.11 and WAY at 37.71. P/E is one valuation measure and does not by itself establish which business is cheaper.
Is MMSI or WAY more profitable?: WAY runs the higher net margin — MMSI at 9.22% versus WAY at 11.18%.

Go deeper

Full MMSI analysis Full WAY analysis Interactive comparison tool

Dig into the metrics

Merit Medical Systems P/E ratio Waystar P/E ratio Merit Medical Systems ROE Waystar ROE Merit Medical Systems operating margin Waystar operating margin Merit Medical Systems revenue growth Waystar revenue growth Merit Medical Systems free cash flow Waystar free cash flow

Merit Medical Systems & Waystar appear in these rankings

Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.