LeMaitre Vascular, Inc. (LMAT) vs Pulse Biosciences, Inc (PLSE)

LeMaitre Vascular, Inc. and Pulse Biosciences, Inc are both Medical Instruments & Supplies companies. Pulse Biosciences, Inc is the larger, with a market value of $3.8B against $1.9B — 2.0× the size. Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; LeMaitre Vascular, Inc. trades at 28.1×. LeMaitre Vascular, Inc. grew revenue faster over the last twelve months: 11.9% against −23.3%. LeMaitre Vascular, Inc. has the higher net margin (25.0% vs −6,755.8%) and the higher return on invested capital (22.7% vs 0.00%). Across the 18 metrics below, LeMaitre Vascular, Inc. leads on 17 and Pulse Biosciences, Inc on 1.

Valuation

Metric LMAT PLSE Medical Instruments & Supplies median
P/E 28.11 n/m 34.17
P/S 7.10 3,023.78 2.83
P/B 4.43 36.01 2.82
Price to free cash flow 25.25 n/m 25.69
EV/EBITDA 18.70 n/m 16.08
EV/Sales 6.32 2,945.94 3.06
Earnings yield 3.56% (2.28%) (1.84%)
Free cash flow yield 3.96% (1.71%) 0.17%

Profitability

Metric LMAT PLSE Medical Instruments & Supplies median
Gross margin 72.90% 0.25% 54.62%
Operating margin 29.46% (7,007.76%) 1.64%
Net margin 25.02% (6,755.78%) 0.00%
Free cash flow margin 28.13% (5,180.42%) 1.61%
Return on equity 16.77% (78.49%) 0.00%
Return on assets 10.78% (67.90%) 0.00%
Return on invested capital 22.67% 0.00% 0.00%

Growth

Metric LMAT PLSE Medical Instruments & Supplies median
Revenue growth (TTM) 11.85% (23.25%) 9.20%
EPS growth (last fiscal year) 30.57% (17.39%) —
Revenue growth, 5-year CAGR 14.05% — 9.48%
Net income growth, 5-year CAGR 22.16% 0.00% 0.00%

Health

Metric LMAT PLSE Medical Instruments & Supplies median
Debt to equity 0.40 0.00 0.08
Current ratio 16.31 9.63 2.49
Net debt to EBITDA (2.40) 1.06 0.83

Dividend

Metric LMAT PLSE Medical Instruments & Supplies median
Dividend yield 0.92% — 0.99%
Payout ratio 0.47 0.00 0.00

Size

Metric LMAT PLSE Medical Instruments & Supplies median
Market cap 1.85b 3.77b 938.39m

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