Skip to content
stoqly

LeMaitre Vascular

LMAT Nasdaq Health Care Equipment Financials FY2016–FY2025

LeMaitre Vascular's revenue rose 13.5% to $250 million in fiscal 2025. Its operating margin was 27.2%, up from 23.8% a year earlier. Free cash flow was $74 million, up 100.4%. It paid out $20 million in dividends and buybacks, 27% of free cash flow. The diluted share count rose 0.7%.

Last close · Oct 23, 2026

$84.45

1.0%
Value it Compare
Revenue Total sales reported in the income statement.
$250M
13.5% vs prior year
Operating margin Operating income as a share of revenue.
27.2%
3.4 pts
Net income Profit after all expenses, interest and tax.
$57.7M
31.1%
Free cash flow Cash from operations minus capital spending.
$74.5M
100.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
25.5%
5.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
29.6x
On $2.85 EPS (TTM)

What LeMaitre Vascular does

No business description yet.

Legal name
LEMAITRE VASCULAR, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-073360
0001158895

Revenue and margins

LeMaitre Vascular had $250M of revenue in fiscal 2025, up 13.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 18.4% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $74.5M in fiscal 2025, 29.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

LeMaitre Vascular returned $19.9M to shareholders in fiscal 2025, 27% of free cash flow. The diluted share count rose 0.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value LeMaitre Vascular yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $191M and divides by 22.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 29.6x · peers 24.1x · sector 27.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably LeMaitre Vascular can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $70.0M$82.7M$105M$300M$359M
Debt incl. finance leases ——$0.0M$168M$169M
Net debt / EBITDA ——−2.3x−2.1x−2.4x
Debt / equity ——0.0x0.5x0.4x
Interest coverage 16.4x——254.9x13.1x
Current ratio 6.4x6.4x6.5x13.1x12.9x
Quick ratio 5.3x5.3x5.5x12.0x11.9x
Total assets $293M$311M$347M$552M$616M
Total liabilities $38.7M$42.3M$48.9M$215M$222M
Shareholders' equity $254M$268M$298M$337M$394M
Net debt (− = net cash) ——−$105M−$132M−$191M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$30.0M

5 insiders

Of sales under plans

73%

$22.0M

DateInsiderTradeSharesPriceValueFiling
May 8, 2026 George W LeMaitreChairman and CEO, Director Sold 27,881 $108.69 $3.0M Form 4
May 8, 2026 Trent G KamkeSenior V. P., Operations Sold 2,928 $107.00 $0.3M Form 4
May 7, 2026 Bridget A RossDirector Sold 5,044 $111.10 $0.6M Form 4
May 7, 2026 George W LeMaitreChairman and CEO, Director Sold 18,600 $107.64 $2.0M Form 4
May 7, 2026 Lawrence J JasinskiDirector Sold 3,943 $110.00 $0.4M Form 4
Mar 11, 2026 David B RobertsPresident and Director, Director Sold 3,312 $107.68 $0.4M Form 4
Mar 11, 2026 Trent G KamkeSenior V. P., Operations Sold 2,625 $108.50 $0.3M Form 4
Mar 2, 2026 George W LeMaitreChairman and CEO, Director Sold plan 55,930 $107.81 $6.0M Form 4
Feb 27, 2026 David B RobertsPresident and Director, Director Sold 8,464 $106.80 $0.9M Form 4
Feb 27, 2026 Trent G KamkeSenior V. P., Operations Sold 1,044 $110.29 $0.1M Form 4
Feb 26, 2026 George W LeMaitreChairman and CEO, Director Sold plan 150,000 $106.76 $16.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — ✕ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 97 / 95 / 9
Accruals ratio −2.0%−0.0%−4.0%
Altman Z'' 11.317.568.18

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
LeMaitre Vascular LMAT $2.1B 13.5% 27.2% 29.8% 25.5% 29.6x 5
Artivion AORT $1.1B 13.6% 7.7% 0.2% 3.9% — 7 Compare →
Glaukos GKOS $10.5B 32.3% −39.3% −4.4% — — — Compare →
Inspire Medical Systems INSP $2.1B 13.6% 5.6% 8.6% 14.2% 15.7x 5 Compare →
CONMED CNMD $1.5B 5.2% 7.5% 11.0% 3.7% 32.6x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $89.2M $101M $106M $117M $129M $154M $162M $194M $220M $250M
Gross profit $62.9M $70.7M $73.9M $79.9M $84.6M $101M $105M $127M $151M $179M
Research and development $6.1M $6.6M $8.2M $9.3M $10.1M $11.8M $13.3M $17.0M $15.6M $14.1M
Operating income $16.3M $21.1M $28.2M $21.2M $28.8M $36.4M $26.8M $36.7M $52.3M $67.9M
Interest expense $0.0M $0.0M $0.0M $0.0M $1.3M $2.2M $0.0M $0.0M $0.2M $5.2M
Pretax income $16.2M $21.1M $28.4M $21.7M $27.4M $34.3M $27.5M $39.5M $56.9M $75.2M
Income tax $5.7M $3.9M $5.5M $3.7M $6.1M $7.4M $6.9M $9.4M $12.8M $17.4M
Net income $10.6M $17.2M $22.9M $17.9M $21.2M $26.9M $20.6M $30.1M $44.0M $57.7M
Diluted EPS $0.55 $0.86 $1.13 $0.88 $1.04 $1.25 $0.93 $1.34 $1.93 $2.52
Diluted shares 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations $16.9M $22.9M $19.5M $14.2M $34.8M $35.1M $25.4M $36.8M $44.1M $81.3M
Capital expenditure $2.8M $6.4M $3.1M $3.8M $3.0M $4.9M $3.2M $7.3M $7.0M $6.8M
Free cash flow $14.1M $16.5M $16.5M $10.4M $31.8M $30.2M $22.2M $29.5M $37.2M $74.5M
Depreciation and amortization $3.6M $4.1M $4.3M $5.4M $8.4M $11.1M $9.4M $9.5M $9.6M $10.4M
Stock-based compensation $1.7M $2.3M $2.3M $2.6M $3.0M $3.5M $4.2M $5.3M $6.6M $7.8M
Acquisitions $14.4M $0.0M $12.3M $21.2M $72.6M $0.0M $0.0M $0.9M $0.0M $1.9M
Share buybacks $0.3M $0.8M $0.7M $0.7M $0.6M $0.8M $0.6M $0.9M $1.7M $1.8M
Dividends paid $3.3M $4.2M $5.4M $6.7M $7.7M $9.3M $11.0M $12.4M $14.4M $18.1M
Dividends and buybacks $3.6M $5.0M $6.2M $7.4M $8.3M $10.1M $11.6M $13.3M $16.1M $19.9M
Balance sheet
Cash and short-term investments $24.3M $19.1M $26.3M $11.8M $27.0M $70.0M $82.7M $105M $300M $359M
Total debt — — — — — — — $0.0M $168M $169M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $59.0M $80.3M $94.0M $92.1M $94.3M $140M $162M $195M $402M $468M
Current liabilities $10.5M $13.2M $19.8M $20.9M $25.1M $21.8M $25.3M $29.9M $30.6M $36.3M
Inventory $19.6M $12.3M $16.4M $23.0M $28.1M $25.3M $26.7M $31.1M $34.7M $34.4M
Property and equipment, net $8.0M $12.4M $14.1M $14.9M $15.0M $17.1M $17.9M $21.8M $24.8M $27.0M
Total assets $102M $126M $153M $188M $253M $293M $311M $347M $552M $616M
Total liabilities $14.4M $16.6M $22.9M $40.2M $80.2M $38.7M $42.3M $48.9M $215M $222M
Shareholders' equity $87.5M $110M $130M $148M $173M $254M $268M $298M $337M $394M
Margins
Gross margin 70.6% 70.1% 70.0% 68.1% 65.4% 65.7% 64.9% 65.7% 68.6% 71.5%
Operating margin 18.3% 20.9% 26.7% 18.1% 22.3% 23.6% 16.6% 19.0% 23.8% 27.2%
EBITDA margin 22.4% 24.9% 30.8% 22.7% 28.7% 30.8% 22.4% 23.9% 28.1% 31.4%
Net margin 11.9% 17.0% 21.7% 15.3% 16.4% 17.4% 12.8% 15.6% 20.0% 23.1%
FCF margin 15.8% 16.3% 15.6% 8.9% 24.6% 19.6% 13.7% 15.2% 16.9% 29.8%
Returns
Return on capital — — — — — — — — 20.3% 25.5%
Return on capital employed 19.0% 20.6% 22.9% 14.1% 14.6% 14.6% 9.7% 12.2% 12.5% 12.3%
Return on equity 12.8% 17.4% 19.1% 12.9% 13.2% 12.6% 7.9% 10.6% 13.9% 15.8%
Return on assets 11.0% 15.1% 16.4% 10.5% 9.6% 9.9% 6.8% 9.2% 9.8% 9.9%
Growth
Revenue growth 13.8% 13.1% 4.7% 11.1% 10.4% 19.4% 4.7% 19.7% 13.6% 13.5%
Net income growth 36.5% 62.2% 33.6% −21.8% 18.3% 26.8% −23.3% 45.9% 46.3% 31.1%
EPS growth 31.0% 56.4% 31.4% −22.1% 18.2% 20.2% −25.6% 44.1% 44.0% 30.6%
FCF growth 53.4% 17.1% 0.0% −36.7% 205.4% −5.0% −26.7% 33.1% 26.0% 100.4%
Share count change 5.1% 4.1% 1.0% 0.4% 0.8% 4.9% 3.2% 1.1% 1.6% 0.7%
Financial health
Net debt / EBITDA — — — — — — — −2.3x −2.1x −2.4x
Debt / equity — — — — — — — 0.0x 0.5x 0.4x
Interest coverage 1,166.9x 1,004.9x 14,104.5x — 22.0x 16.4x — — 254.9x 13.1x
Current ratio 5.6x 6.1x 4.8x 4.4x 3.8x 6.4x 6.4x 6.5x 13.1x 12.9x
Quick ratio 3.8x 5.2x 3.9x 3.3x 2.6x 5.3x 5.3x 5.5x 12.0x 11.9x
Capital allocation
Capex / revenue 3.2% 6.4% 2.9% 3.2% 2.3% 3.2% 2.0% 3.8% 3.2% 2.7%
Stock comp / revenue 1.9% 2.2% 2.2% 2.3% 2.3% 2.3% 2.6% 2.8% 3.0% 3.1%
Payouts / FCF 25.9% 30.1% 37.6% 71.2% 26.0% 33.6% 52.5% 45.1% 43.3% 26.8%
Quality scores
Piotroski F-score — — — — — — — — 7.0 5.0
Altman Z'' 11.1 12.3 11.4 8.1 5.7 11.4 11.2 11.3 7.6 8.2
Accruals ratio −6.6% −5.0% 2.5% 2.2% −6.2% −3.0% −1.6% −2.0% −0.0% −4.0%

Source: SEC EDGAR XBRL filings (CIK 0001158895). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move · ↵ to open