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LeMaitre Vascular, Inc.

LMAT Healthcare Medical Instruments & Supplies

LeMaitre Vascular, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $249.6 million, up 13.5% from fiscal 2024.

Revenue
+11.3%
EPS
−14.3%
Free cash flow
−25.8%
Total debt
+0.53%

Quarter to September 2026, against a year earlier

80.93 2.56 −3.07%
Market cap
$1.9B
P/E
29.7×
Fwd P/E
28.2×
Dividend yield
1.15%
F-score
6/9
Altman Z
6.99
Beneish M
−2.61
Dividend safety
93/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 30.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 3 2 — 4 — — — — — —
Insider Ownership 6.91%

Capital & Financial Ratios $m

Size
Market Cap 1,910.00
Revenue ttm 269.36
Net income ttm 63.34
Free cash flow ttm 67.00
Net debt Q (220.40)
Valuation
P/E 29.70
Forward P/E 28.20
Price / sales 7.04
Forward P/S Powerpack
Price / FCF 28.30
Price / book 4.39
Financial health
Current ratio Q 14.60 (at or above 1.5: strong)
Debt / equity Q 0.39 (at or below 0.5: strong)
Interest coverage Q 13.57
Growth
Revenue growth Q +11.34% (above 0%: growing)
Operating income growth Q −12.88% (below 0%: shrinking)
EPS, this year +11.19%
EPS, next year A +12.42%
Revenue, next year A +10.78% (at or above 10%: strong)
EPS, past 5 yrs +19.36% (at or above 15%: strong)
EPS, next 5 yrs A +11.03%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.2×, against a ten-year median of 6.2×; over the ten years it ranged from 2.8× in 2016 to 10.8× in 2024.
P/E against its own 10 years 11.70%
10-year low 10-year high
P/S against its own 10 years 61.42%
10-year low 10-year high
P/B against its own 10 years 36.45%
10-year low 10-year high
EV/Sales against its own 10 years 50.31%
10-year low 10-year high
EV/FCF against its own 10 years 10.01%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.15%
Annual rate
0.95
Payout ratio
34.6%
Growth, 2017–25
+17.5%/yr
  1. 0.22 ’17
  2. 0.28 ’18 +27
  3. 0.34 ’19 +21
  4. 0.38 ’20 +12
  5. 0.44 ’21 +16
  6. 0.50 ’22 +14
  7. 0.56 ’23 +12
  8. 0.64 ’24 +14
  9. 0.80 ’25 +25
  10. 1.00 ’26e +25
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 105 300 359 390
Receivables 25 30 34 36
Inventory 58 65 70 —
Other — — — —
195 402 468 506
2023 2024 2025 Q'26
Payables 4 2 4 4
ST’ Debt — — — —
Other 0 1 0 —
30 31 36 35

Compound Annual Growth %

10y 5y 3y
Sales 12.28% 14.05% 15.58%
Cash Flow 21.66% 18.48% 47.39%
Earnings 22.23% 22.16% 40.91%
Book Value 17.58% 17.92% 13.63%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.81 Actual 0.74

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.57 0.62 Beat by 0.05
Q4 FY25 0.67 0.68 Beat by 0.01
Q1 FY26 0.66 0.68 Beat by 0.02
Q2 FY26 0.81 0.74 Miss by 0.07
Q3 FY26 0.69 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.68 0.74 0.65 — —
’25 0.48 0.60 0.75 0.68 2.52
’24 0.44 0.52 0.49 0.49 1.93
’23 0.27 0.36 0.33 0.38 1.34
’22 0.27 0.16 0.25 0.25 0.93
’21 0.28 0.40 0.30 0.28 1.25
’20 0.16 0.17 0.37 0.34 1.04
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 67 70 68 — —
’25 60 64 61 64 250
’24 53 56 55 56 220
’23 47 50 47 49 193
’22 40 42 39 41 162
’21 36 41 38 40 154
’20 31 25 36 38 129
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 15 16 22 — —
’25 9 20 29 23 81
’24 5 10 14 15 44
’23 2 12 12 11 37
’22 5 9 7 4 25
’21 6 10 14 5 35
’20 1 5 14 14 35
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 12 14 20 — —
’25 8 19 26 21 74
’24 4 8 13 13 37
’23 0 9 11 9 29
’22 4 8 7 4 23
’21 5 8 12 4 30
’20 0 5 16 13 34
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 89 101 106 117 129 154 162 193 220 250 269 +12.1% 277 303 328 +9.5%
Gross margin, % 70.59 70.09 70.04 68.12 65.41 65.65 64.89 65.66 68.63 71.53 72.04 +0.9 pt
EBT 16 21 28 22 27 34 27 39 57 75 82 +18.6%
EBT margin, % 18.22 20.92 26.94 18.49 21.15 22.20 17.01 20.40 25.87 30.12 30.38 +11.9 pt
Net income 11 17 23 18 21 27 21 30 44 58 63 +20.7%
Per share, $
Per share, $ Revenue 4.82 5.32 5.43 5.92 6.39 7.30 7.36 8.71 9.79 11.03 11.78 +9.6%
Earnings 0.57 0.91 1.18 0.91 1.05 1.27 0.94 1.36 1.96 2.55 2.79 +18.1%
Cash flow 0.91 1.21 1.00 0.72 1.72 1.66 1.15 1.65 1.97 3.59 3.33 +16.4%
Capex (0.15) (0.34) (0.16) (0.19) (0.05) (0.23) (0.11) (0.33) (0.31) (0.30) (0.40) +7.7%
Free cash flow 0.76 0.87 0.85 0.53 1.67 1.43 1.05 1.33 1.66 3.29 2.93 +17.7%
Book value 4.73 5.79 6.70 7.48 8.52 12.01 12.20 13.41 15.02 17.38 18.89 +15.6%
Shares, m 18 19 19 20 20 21 22 22 22 23 23 +2.3%
Valuation, ×
Valuation, × P/E 44.26 34.58 20.03 39.94 38.57 39.55 47.82 42.01 46.77 31.68 29.70 38.5
P/S 5.23 5.85 4.35 6.08 6.34 6.88 6.18 6.51 9.41 7.36 7.04 6.4
P/B 5.33 5.38 3.53 4.81 4.75 4.18 3.72 4.23 6.13 4.67 4.39 4.7
EV/Sales 4.96 5.44 3.90 5.93 6.42 6.54 5.77 6.06 8.82 6.60 6.23 6.0
EV/FCF 31.51 33.39 25.03 66.90 24.57 33.44 40.61 39.78 52.23 22.14 25.05 37.0
Cash, $m
Cash, $m Operating cash flow 17 23 20 14 35 35 25 37 44 81 76 +19.1%
Capex (3) (6) (3) (4) (1) (5) (2) (7) (7) (7) (9) +10.1%
Free cash flow 14 16 16 10 34 30 23 29 37 74 67 +20.4%
Balance, $m
Balance, $m Working capital 49 67 74 71 69 118 136 165 372 432 471 +27.5%
Net debt (24) (42) (48) (17) 11 (56) (68) (105) (132) (190) (220) +25.7%
Shareholders’ equity 88 110 130 148 173 254 268 298 337 394 432 +18.2%
Returns, %
Returns, % ROA 11.00 15.05 16.42 10.51 9.62 9.86 6.84 9.16 9.80 9.89 10.10 (1.1) pt
ROIC 16.15 19.36 21.44 10.09 9.80 11.48 8.37 11.90 15.91 20.90 22.05 +4.7 pt
ROE 12.81 17.41 19.12 12.88 13.23 12.61 7.90 10.64 13.87 15.80 15.62 +3.0 pt
People
People Employees 397 423 483 479 403 488 617 630 664 655 — +5.7%
Revenue/emp, $m 0.22 0.24 0.22 0.24 0.32 0.32 0.26 0.31 0.33 0.38 — +6.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

LeMaitre Vascular, Inc. vs peers in Medical Instruments & Supplies (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PLSE Pulse Biosciences, Inc $3.9B — (loss-making) — (loss-making) +359.30% (above 0%: growing) n/m −1,180.54% (below 0%: shrinking) 51.65% (6,149.87%) Compare
STVN Stevanato Group S.p.A. $3.6B 22.4× 30.2× +5.91% (above 0%: growing) +17.53% (above 0%: growing) +4,089.92% (above 0%: growing) 29.12% 18.51% Compare
WRBY Warby Parker Inc. $3.2B 434× 208× +10.40% (above 0%: growing) −20.00% (below 0%: shrinking) −30.28% (below 0%: shrinking) 54.41% 1.45% Compare
ATRC AtriCure, Inc. $3.1B 199× 573× +15.03% (above 0%: growing) n/m −0.73% (below 0%: shrinking) 77.27% 2.82% Compare
XRAY DENTSPLY SIRONA Inc. $2.0B — (loss-making) 24.5× −7.52% (below 0%: shrinking) n/m −17.95% (below 0%: shrinking) 52.99% 4.43% Compare
LMAT LeMaitre Vascular, Inc. $1.9B 29.7× 28.2× +11.34% (above 0%: growing) −14.29% (below 0%: shrinking) −25.78% (below 0%: shrinking) 71.66% 26.03%
KMTS Kestra Medical Technologies, Ltd. $1.7B — (loss-making) — (loss-making) +59.88% (above 0%: growing) n/m −17.75% (below 0%: shrinking) 56.50% (121.59%) Compare
AZTA Azenta, Inc. $1.6B — (loss-making) — (loss-making) +12.04% (above 0%: growing) n/m −134.69% (below 0%: shrinking) 44.89% (2.59%) Compare
STAA STAAR Surgical Company $1.3B — (loss-making) 84.4× −11.95% (below 0%: shrinking) −38.89% (below 0%: shrinking) +1,378.70% (above 0%: growing) 70.90% 6.54% Compare
Median of peers $2.6B 199× 84.4× +11.22% −20.00% −17.85% 53.70% 2.14%

All 53 Medical Instruments & Supplies stocks →

Pay and ownership Proxy statement filed 14 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.78b 4.21b 210,000.00
2024 3.24b 8.32b 236,000.00
2023 2.22b 4.43b 144,000.00
2022 1.94b 2.43b 116,000.00
2021 1.98b 5.34b 125,000.00

Ownership

Directors and executive officers, together 7.40%
BlackRock, Inc. 13.60%
Conestoga Capital Advisors, LLC 6.70%
George W. LeMaitre 6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

LeMaitre Vascular, Inc. (LMAT) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com transcript

4 Nov

Impact 3 · · MarketBeat transcript
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Impact 3 · · GlobeNewswire

24 Sep

Impact 3 ·

13 Aug

Impact 3 ·

11 Aug

Impact 3 · · The Motley Fool transcript

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5 Aug

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4 Aug

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29 May

Impact 3 · · Simply Wall St.

13 May

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7 May

Impact 3 · · Simply Wall St.
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6 May

Impact 4 · · Moby

5 May

Impact 4 · · MarketBeat
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4 May

Impact 3 · · StockStory

1 May

Impact 4 · · Simply Wall St.

28 Apr

Impact 3 · · Insider Monkey

16 Apr

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29 Mar

Impact 3 · · Insider Monkey

2 Mar

Impact 4 · · Simply Wall St.MT NewswiresStockStoryMT Newswires

1 Mar

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LMAT metrics, ten years each

stockrow.com/LMAT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com