LeMaitre Vascular, Inc. (LMAT) vs Warby Parker Inc. (WRBY)

LeMaitre Vascular, Inc. and Warby Parker Inc. are both Medical Instruments & Supplies companies. Warby Parker Inc. is the larger, with a market value of $3.2B against $1.9B — 1.7× the size. LeMaitre Vascular, Inc. trades at the lower P/E: 29.7× against 434×. LeMaitre Vascular, Inc. grew revenue faster over the last twelve months: 11.8% against 9.89%. LeMaitre Vascular, Inc. has the higher net margin (23.5% vs 0.80%) and the higher return on invested capital (22.1% vs 0.83%). Across the 22 metrics below, LeMaitre Vascular, Inc. leads on 16 and Warby Parker Inc. on 6.

Valuation

Metric LMAT WRBY Medical Instruments & Supplies median
P/E 29.70 434.17 30.28
P/S 7.04 3.48 2.49
P/B 4.39 8.05 2.34
Price to free cash flow 28.30 152.61 23.49
EV/EBITDA 18.92 50.18 14.87
EV/Sales 6.23 3.17 2.75
Earnings yield 3.37% 0.23% 0.00%
Free cash flow yield 3.53% 0.66% 0.59%

Profitability

Metric LMAT WRBY Medical Instruments & Supplies median
Gross margin 72.04% 54.75% 53.60%
Operating margin 27.73% 0.16% 1.97%
Net margin 23.51% 0.80% 0.00%
Free cash flow margin 24.87% 2.28% 2.36%
Return on equity 15.62% 1.93% 0.00%
Return on assets 10.10% 1.00% 0.00%
Return on invested capital 22.05% 0.83% 0.13%

Growth

Metric LMAT WRBY Medical Instruments & Supplies median
Revenue growth (TTM) 11.83% 9.89% 8.97%
EPS growth (last fiscal year) 30.57% 105.88% 6.51%
Revenue growth, 5-year CAGR 14.05% 17.23% 8.85%
Net income growth, 5-year CAGR 22.16% 0.00% 0.00%

Health

Metric LMAT WRBY Medical Instruments & Supplies median
Debt to equity 0.39 0.00 0.10
Current ratio 14.60 2.26 2.47
Net debt to EBITDA (2.40) (5.92) 0.97

Dividend

Metric LMAT WRBY Medical Instruments & Supplies median
Dividend yield 1.15% — 1.02%
Payout ratio 0.35 — 0.27

Size

Metric LMAT WRBY Medical Instruments & Supplies median
Market cap 1.91b 3.22b 1.71b

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